US–Uzbekistan Business and Investment Council to be established

The United States and Uzbekistan will establish the US-Uzbekistan Business and Investment Council to further expand and strengthen mutually beneficial trade, investment, and commercial relations, improve the business environment, and support entrepreneurship. The corresponding decree of President Shavkat Mirziyoyev was issued today, November 12.

According to the decree, during the President of Uzbekistan’s visit to the United States on November 4–6, 2025, an agreement was reached — within the framework of the C5+1 summit — to establish the US-Uzbekistan Business and Investment Council. The Council will be co-chaired by a representative of the US President and the Head of the Presidential Administration of Uzbekistan, based on mutual consent between the two sides. The Head of the Presidential Administration of the Republic of Uzbekistan, Saida Mirziyoyeva, has been authorized to approve the composition, regulations, and operational procedures of the Council on behalf of the Uzbek side.

According to the decree, the Council will prioritize the development and consideration of the following issues:

• coordinating the development and approval of strategic business initiatives, major investment and trade projects, as well as ensuring constant monitoring of their implementation;
• establishing a special investment fund to attract additional investments to Uzbekistan, identifying the U.S. International Development Finance Corporation (DFC) and Uzbek representatives as major investors, and involving major financial institutions — such as the EBRD, IFC, and ADB — in financing and risk-sharing of key infrastructure and strategic projects;
• continuing negotiations on the mutual reduction of tariff rates;
• systematically promoting the products and services of companies that are residents of the IT Park (Technological Park of Software Products and Information Technologies);
• submitting proposals to diversify the country’s investment portfolio, including part of the foreign exchange reserves of the Central Bank of Uzbekistan and other national assets.

In addition, to enhance the effectiveness of coordinating foreign policy and state initiatives, starting from January 1, 2026, a new position of Counselor–Envoy — Representative of the Presidential Administration of the Republic of Uzbekistan in the United States will be introduced within the structure of Uzbekistan’s Embassy in Washington. The appointment and dismissal of the Counselor–Envoy, as well as the approval of regulations governing their activities, will be carried out by the Head of the Presidential Administration of the Republic of Uzbekistan. The Counselor–Envoy will report directly to the Head of the Presidential Administration and will be responsible for supporting the head of Uzbekistan’s diplomatic mission in the United States in matters related to the development of bilateral relations.

The Counselor–Envoy will be entrusted with the following duties:

• Taking direct initiative and holding discussions on the implementation of major and strategic investment and trade projects between Uzbekistan and the United States;
• ensuring comprehensive coordination of the Council’s activities on behalf of the Uzbek side.

At the same time, to strengthen the investment and trade sector, expand business cooperation, ensure the successful implementation of the Council’s projects and initiatives, and support the activities of the Councilor–Envoy, the Ministry of Foreign Affairs of the Republic of Uzbekistan has been instructed to:

• jointly with the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan, submit proposals within three weeks on increasing the number of staff positions at Uzbekistan’s Embassy in the United States;
• within one month, develop proposals for the opening of additional consulates in the United States, ensuring broader geographical coverage by including personnel and specialists working with major U.S. regional hubs, and taking into account areas with large Uzbek diaspora communities — such as Philadelphia, Chicago, Orlando, and Seattle.

In addition, developing and effectively implementing a model of productive cooperation with Uzbek diaspora communities across all U.S. states will be defined as one of the main tasks of the newly established consulates.

According to the decree, starting from January 1, 2026, operations by residents related to investment activities in the United States — including the formation of the charter capital of foreign companies or participation in their equity — will be carried out without restrictions, using funds transferred from resident accounts in banks of the Republic of Uzbekistan to finance U.S. branches with working capital, within the limits of the balances in resident accounts. The Central Bank of the Republic of Uzbekistan will, within one month, introduce the necessary amendments to legislation to reflect these requirements. Together with the Ministry of Economy and Finance, the Central Bank will submit proposals to the Council on improving the structure of the country’s investment assets and foreign exchange reserves, to maximize returns and direct investments toward the most profitable and highly liquid assets, including those located in the United States.

The Ministry of Investments, Industry, and Trade of the Republic of Uzbekistan, together with the Ministry of Foreign Affairs, will:

• within two weeks, study the issue of forming a permanent staff for the Council’s executive body in the United States, including specialists from the U.S.;
• within twenty days, submit the regulations and operational procedures of the Council for approval on behalf of Uzbekistan;
• within one month:
• approve the Council’s composition on behalf of Uzbekistan, including inviting prominent representatives of the U.S. business and investment community;
• initiate negotiations with the United States on an agreement regarding the mutual support and protection of investments.

The Ministry of Foreign Affairs of the Republic of Uzbekistan, together with the relevant ministries and agencies, will submit proposals within one month to amend and supplement legislation in accordance with the provisions of this decree.

The responsibility for overseeing the implementation of this decree has been assigned to Saida Shavkatovna Mirziyoyeva, Head of the Presidential Administration of the Republic of Uzbekistan.

It should be recalled that on November 6, President Shavkat Mirziyoyev met with U.S. President Donald Trump in Washington and participated, together with the leaders of Central Asian countries, in the C5+1 summit.