Rubio’s planned Samarkand visit: where U.S.–Uzbekistan business could move next

Which companies belong on the research list?

There is a useful starting point in earlier, documented meetings. Uzbekistan’s Ministry of Energy reported participation by Air Products, Cove Capital, Boeing, BlackRock, Visa, JPMorgan and Meta, among others, in a June 2026 presidential business roundtable. A February Foreign Ministry release named Traxys, Valmont Industries, Aviagen, John Deere and Oppenheimer among participants in a separate Washington business programme. These are evidence of previous engagement, not confirmations of the October delegation.

For a local business, the practical shortlist depends on its need: an industrial technology partner, an equipment supplier, a customer, a lender or an equity investor. Those roles are different. CAPPA would first establish whether a company’s relevant division covers Uzbekistan and whether the proposed project fits its commercial criteria, then seek confirmation of its visit plans.

The market case: growth with work still to do

The IMF’s June 2026 Article IV assessment projected real GDP growth of about 6.8% in 2026 and 6.0% in 2027. These are forecasts, not completed-year results. Its assessment also identifies exposure to global conditions, domestic demand pressures and unfinished structural reforms. The report calls for stronger competition, governance and a reduced state footprint. A growing economy supports the opportunity, but project economics still require their own evidence.

In CAPPA’s assessment, the investable question is where additional capital or technology can solve a documented commercial problem: reliable industrial utilities, efficient production, water productivity, logistics capacity, digital operations or access to export customers. Site-level evidence matters more than a national growth headline. Buyers, power and water availability, workforce, logistics costs and the sponsor’s contribution should be checked for each opportunity.

Five types of transaction worth preparing — CAPPA scenarios

Energy and industrial infrastructure: equipment supply, engineering and maintenance contracts, efficiency upgrades or partnerships around new capacity. A credible brief needs a named asset or site, demand or offtake assumptions, connection requirements, capital costs and responsibilities for delivery.

Critical minerals and processing: technical studies, equipment, processing partnerships, offtake discussions or a staged investment. The deciding evidence includes the resource and licence position, test work, power and water requirements, environmental obligations and a realistic customer. An early memorandum and a financed development are different milestones.

Agriculture, water and food production: irrigation systems, machinery, poultry and food-processing capacity, storage and distribution partnerships. Commercial discussions should start with farm or factory productivity, water availability, servicing, inputs and the route to customers. Equipment sales may precede any equity investment.

Digital services and finance: payments, enterprise software, cybersecurity, AI applications and infrastructure supporting business operations. Initial transactions could be pilots, service agreements or local partnerships. A useful proposal identifies the buyer, data requirements, integration work and how the supplier will be paid.

Transport and logistics: fleet and equipment procurement, maintenance services, warehousing and supply-chain coordination. Demand, utilisation, operating costs and the local delivery partner should support the proposal. These five categories are possible commercial pathways; CAPPA has not verified an October award, tender or financing commitment in any of them.

What to prepare before a meeting in Uzbekistan

An incoming company can make local meetings more useful by sending a short, non-confidential brief: its business unit, sectors, preferred regions, intended role, typical project size and the decision it wants to make. It should state whether it needs project owners, distributors, suppliers, customers or technical information. If travel is planned, proposed dates and the appropriate commercial contact help coordinate preparation.

An Uzbek project owner should prepare a concise English introduction covering the sponsor, location, present stage, customer or demand evidence, required capital or technology, its own contribution and the specific partnership sought. Supporting materials should distinguish verified figures from assumptions. Confidential documents can follow only through an agreed process.

A productive first meeting should end with an owner for the next action: technical information, a site visit, a feasibility scope, commercial terms or a financing discussion. This gives both sides a way to judge progress after the delegation leaves.