Uzbekistan and the United States Business and Investment Council Established

Tashkent, Uzbekistan (UzDaily.com) — President Shavkat Mirziyoyev has signed a decree establishing the Uzbek-American Business and Investment Council, a new platform aimed at strengthening strategic economic partnership between Uzbekistan and the United States.

The council will operate under co-chairmanship, with the head of the Presidential Administration of Uzbekistan representing the Uzbek side and a U.S. presidential representative representing the American side.

The decree outlines the council’s key areas of activity, including coordinating major investment and trade projects, creating a special investment fund with participation from the U.S. International Development Finance Corporation (DFC) and leading international financial institutions such as the EBRD, IFC, and ADB. The fund will finance infrastructure and strategic projects while sharing investment risks.

The council will also promote Uzbekistan’s export potential, particularly in IT services, continue negotiations on tariff reductions, and develop proposals to diversify the country’s investment portfolio, including the use of part of the Central Bank’s foreign exchange reserves.

To strengthen coordination with American partners, as of January 1, 2026, the Uzbek Embassy in the U.S. will introduce the position of Advisor-Envoy—a representative of the Presidential Administration—responsible for implementing major investment projects and coordinating the council’s work.

Additionally, the Ministry of Foreign Affairs and the Ministry of Investments, Industry, and Trade have been tasked with expanding the embassy’s staff in Washington and exploring the opening of additional consulates in major U.S. cities, including Philadelphia, Chicago, Orlando, and Seattle. These new offices will focus on strengthening ties with the Uzbek diaspora and promoting the country’s economic interests.

According to the decree, starting from 1 January 2026, Uzbek residents will be allowed to transfer funds without restrictions for investment purposes and to replenish the working capital of their companies and branches in the United States. The Central Bank has been instructed to make the necessary legislative amendments.

The Ministry of Economy and Finance, together with the Central Bank, has been tasked with preparing proposals to enhance the profitability of investment assets and foreign exchange reserves, including placement in profitable and liquid instruments on the U.S. market.

The creation of the Uzbek-American Business and Investment Council marks a significant step in strengthening strategic partnership between Uzbekistan and the United States, attracting investment, and expanding trade and economic ties.