Uzbekistan Strengthens Economic Ties With US Through New Business and Investment Council

Uzbekistan will establish a permanent business and investment office in the United States, according to a presidential decree.

The U.S.-Uzbekistan Business and Investment Council will be created jointly with the U.S. to coordinate strategic business initiatives and oversee major trade and investment projects, The Caspian Post reports, citing Uzbek media.

The decision was finalized during President Shavkat Mirziyoyev’s visit to the United States from November 4-6 as part of the C5+1 summit, reflecting Uzbekistan’s efforts to strengthen economic ties and promote investment opportunities with international partners.

On the Uzbek side, the composition, regulations, and procedures of the council will be approved by the head of the Presidential Administration.

Priority tasks include:

• coordinating and monitoring strategic initiatives, as well as major investment and trade projects;
• creating a special investment fund to attract additional investments to Uzbekistan with the involvement of DFC, EBRD, IFC, and ADB;
• continuing negotiations on mutual tariff reductions;
• promoting IT Park residents’ products and services in the U.S. market;
• developing proposals on investment portfolio diversification, including foreign exchange reserves.

Starting January 1, 2026, the position of Adviser-Envoy of the Presidential Administration will be introduced at Uzbekistan’s Embassy in Washington, D.C. (appointment to be made by the head of the Presidential Administration).

The Ministry of Foreign Affairs and the Ministry of Investments, Industry and Trade have been instructed to prepare proposals for expanding the embassy’s staff and establishing additional consulates in priority cities such as Philadelphia, Chicago, Orlando, and Seattle, as well as to develop an effective model of cooperation with the Uzbek diaspora in the U.S.

From January 1, 2026, resident operations related to investment activities in the U.S. - including participation in charter capital and other transactions - will be carried out without restrictions within resident accounts at Uzbek banks (the Central Bank will prepare the necessary amendments).

The Ministry of Economy and Finance, together with the Central Bank, will submit proposals on directing the structure of the country’s investment assets and reserves toward profitable and liquid assets, including those in the U.S.

A permanent executive office of the council will be established in the United States with the participation of American specialists. The regulations and procedures will be developed within 20 days to one month, and negotiations will begin on a bilateral agreement for the protection of mutual investments.