Last Wednesday, April 9th, the Global Chamber® hosted another of its ongoing Globinar® series, this time focusing on “Opportunities in Uzbekistan”and including Central Asia. The event brought together business leaders, advisors, and global minds to explore Central Asia’s strategically positioned and promising markets.
š„ Missed the event? Watch the full recording HERE
A Strategic Hub at the Heart of Central Asia
Leading the session was Daniel Zaretsky, a seasoned Global Chamber advisor with deep experience in Central Asia. Daniel painted a vivid picture of Uzbekistan as an emerging regional powerhouse. With an unofficial population approaching 40 million, it now ranks as the second-largest country by population in the former Soviet Union. Its capital, Tashkent, is not only the third-largest city in the region but is also growing rapidly, bolstered by the construction of a new modern city nearby.
Daniel emphasized Uzbekistan’s strategic location, high literacy rates, and abundant critical raw materials as key reasons the country is gaining traction as a hub for regional business headquarters and foreign investment. He also pointed to improving relationships with neighboring countries, further enhancing its regional standing.
Central Asian Trade on the Rise
One of the most exciting trends discussed was the increasing cooperation and trade among Central Asian countries. Daniel highlighted new transport corridors, border crossings, and the pivotal role of the Middle Corridor that connects China to Central Asia. Uzbekistan is positioning itself as a logistics and manufacturing node in this evolving trade network, working to climb the value chain and attract foreign partners in technology, agriculture, and energy.
Daniel also touched on the ease of travel and visa requirements, calling the region safe and welcoming, especially for those seeking new markets in emerging economies.
Technology, Talent, and Untapped Potential
The Globinar also spotlighted Uzbekistan’s untapped tech potential. Following the EU–Central Asia Summit, interest in Western technology and investment has grown significantly. Daniel spoke about the country's youthful population hungry for education and innovation, as well as an influx of skilled Russian professionals—a demographic shift that’s energizing sectors like HR, tech, and mental health services.
He encouraged attendees to take a serious look at outsourcing opportunities, startup incubation, and digital infrastructure development, describing Uzbekistan as a promising yet underexplored tech frontier.
Franchising and the Demetra Projects
Another exciting topic was franchise potential in Uzbekistan. While some American brands are already present, Daniel stressed that there is still room for growth, especially in sectors like retail, education, and logistics. He discussed his collaboration with Demetra, a Dubai-based company working on projects related to franchising, training, and import/export. Daniel invited interested investors—local and international—to explore these high-impact opportunities.
Offsets, History, and Regional Diversity
In an engaging exchange, attendee John raised the topic of offset policies in international sales contracts—a strategy that could attract foreign investment while boosting local industry. While Daniel wasn’t aware of such policies currently in Uzbekistan, he expressed interest in exploring the idea further.
The conversation also took a cultural turn, with discussions about the Korean diaspora in the Russian Far East, historical movements during the Stalin era, and the deep ties between Turkey and Central Asia, reinforced by shared cultural and religious elements.
Daniel highlighted the region’s religious diversity, which includes Sunni Islam, Christianity, Judaism, Hinduism, Buddhism, and even Manicheanism. He also pointed out the potential for tourism and hospitality development, noting that only around 15,000 U.S. tourists visit Uzbekistan annually—leaving plenty of room for growth in that sector.
Looking Ahead: Expansion Opportunities and Global Connections
The session concluded with a forward-looking discussion on business expansion in Turkey and Uzbekistan, and upcoming events, including a meeting in Istanbul and a young global leaders program. Doug, the moderator, encouraged participants to revisit earlier Global Chamber® sessions, such as the one on global marketing, for added insight.
Daniel, who is actively engaged on the ground in Uzbekistan and the surrounding region, reiterated his openness to connect with businesses looking to explore or expand into Central Asia.
Speaker:
Daniel Zaretsky - Global Advisor at Global Chamber Uzbekistan (Tashkent)
Daniel Zaretsky is a global professional who has for many years lived abroad and worked in and around the private, government and NGO sectors.
Currently, Mr. Zaretsky is based both in Uzbekistan and his native USA and is Global Advisor, Tashkent, for the Global Chamber. Global Chamber supports exporting, importing and cross-border investment in 525 metros around the world. In addition, he consults with CIPE (Center for Private Enterprise) on the IBECA (Improving Business Environment in Central Asia) program, and on the new B5+1 project to connect the private sectors of the US and Central Asia.
In Tashkent, Mr. Zaretsky is starting a consulting firm that will, among other things, help local companies to enter international markets and also assist foreign entities in entering Central Asia.
Previously, in Tajikistan, Mr. Zaretsky was a Member of the Board of Directors of AmCham Tajikistan, the American Chamber of Commerce, where he was involved with international trade and investment issues and where he also sat on the Secretariat of the Extractive Resources Transparency Initiative (EITI) Tajikistan (AmChams exist in approximately 100 countries and EITI works in approximately 40 countries).
Mr. Zaretsky is also Founder and Country Host of Global Entrepreneurship Week Tajikistan (GEW). GEW takes place in 180 countries and is a celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth and expand human welfare. GEW Tajikistan’s 2014 Campaign was nominated for the Best Rookie Country award by the Global Entrepreneurship Network (GEN).
About Global Chamber
Global Chamber® is a diverse, innovative and positive worldwide platform for CEOs, executives, investors and industry leaders across 195 countries and 525 regions around the world to find opportunities and effectively empower growth, success and progress. We're the only chamber of commerce operating in hundreds of locations that delivers strategic connections, information and resources to facilitate exporting, importing and investing across regions and borders, while addressing climate change and advancing sustainability. Be global and UNSTOPPABLE! Global Chamber® is a registered trademark of Global Chamber, LLC since 2014.
