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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.
Interview with AUCC Chairperson Carolyn Lamm Before 2012 Uzbekistan-US Annual Business Forum
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BUSINESS OPPORTUNITIES IN UZBEKISTAN
The banking and finance sectors, including the stock exchange and insurance market as well as auditing are developing fast.
Currently Uzbekistan has a two-tier banking system based on the national currency, the soum, and consisting of the Central Bank and commercial banks. The national currency is the only unlimited legal currency used for payment on the territory of Uzbekistan.
At present there are 29 commercial banks in the republic: 2 are state-owned, 1 is a state joint-stock bank, 11 are private, 10 are joint-stock commercial banks and 5 are foreign-owned [Royal Bank of Scotland Uzbekistan, UzKDB Bank (Uzbek-Korean joint venture bank), Uzprivatbank, Uzbek Turkish Bank, and a subsidiary of Saderat Bank (Iran)]. The share of private sector and foreign investment in the banking sector is over 50%.
In addition, 8 representative offices of well-known foreign banks such as Bankgezelshaft Berlin AG, Drezdner Bank AG, Commerz Bank AG, Credit Swiss, JP Morgan-Chase, Societe General and others operate in Uzbekistan.
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