About Us

Your Gateway to Uzbekistan

Every new market is a journey — full of opportunities, but also challenges. At Yasdar Consulting, we guide foreign businesses through every step of entering Uzbekistan, turning uncertainty into a clear path forward.

Yasdar Consulting is a strategic advisory firm specializing in guiding foreign businesses through successful market entry into Uzbekistan

We provide end-to-end support — from market research, regulatory compliance, and partner identification to operational setup and growth strategy.

We turn market potential into measurable results, enabling clients to establish a sustainable, profitable presence in Central Asia.

Our Mission

With deep local expertise, strong government and industry connections, and a commitment to cultural and business alignment, we help international companies navigate Uzbekistan’s evolving economic landscape with confidence.

Our Services

At Yasdar Consulting, we specialize in helping international companies enter and succeed in Uzbekistan’s dynamic market.

From in-depth market research and regulatory guidance to strategic partnerships and business setup, we provide a complete range of services to ensure a smooth and compliant market entry.

Our team combines deep local knowledge with global business expertise to deliver tailored solutions for foreign investors and enterprises.

Unlock New Markets with Confidence — Our Market Entry Services are designed to help international companies establish a strong, compliant, and profitable presence in emerging markets, particularly across Uzbekistan and Central Asia.

Meet Our Team

Don Nicholson

Managing Partner

AmCham Uzbekistan President Emeritus and Wharton alumnus, Don is a seasoned investor and global business advisor.

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Valentin Kotov

Partner

PhD economist, with 40+ years’ expertise in economic policy, banking, education, and project management.

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Uzi Malul

Senior Executive Advisor

Seasoned financial strategist with 35+ years’ expertise in consulting, corporate finance, and strategic growth.

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Sabina Zakirova

Partner

Ensures financial feasibility through forecasting, risk assessment, and analysis

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Marat Nurmukhametov

Partner

18+ years’ experience in international projects, leadership, strategy, and communication.

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Albina Daminova

Partner

Compliance Partner, ensures legal adherence, smooth market entry, and minimizes risks.

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Kamila Dekhkanbaeva

Partner

Over 20 years’ expertise in travel, hospitality, strategy, growth, and market expansion.

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Marat Khamidullin

Consultant

Marat is a business consultant advising companies on investment and market entry.

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Zokhidjon Khamidov

Consultant

Expert in cross-border projects and investment partnerships in Central Asia.

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Unlock Uzbekistan’s Potential

Uzbekistan is opening its doors to global business. With Yasdar Consulting, you gain a trusted partner to navigate the market with confidence — from strategy to execution.

Start Your Market Journey​
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Don Nicholson

Managing Partner

Donald Nicholson is an American businessman with over two decades of experience investing in Central Asia. With residence in Tashkent he served for fourteen years as president of the American Chamber of Commerce in Uzbekistan. He is a graduate of the Wharton School at the University of Pennsylvania and his earlier experience included being managing director of ADELA Investment Company, a multinational private equity fund that operated throughout Latin America. He has also served as a director of the American Management Association and the Brazilian American Chamber of Commerce in New York. Mr. Nicholson currently manages Top Star International, Inc,, providing advisory services from offices in both Tashkent and Miami, FL

Kotov Valentin

Partner

Valentin Antonovich Kotov is a PhD in Economics and Chief Manager of the Union of Economists of Uzbekistan. He has over 40 years of experience in economic policy, banking, and higher education, holding senior roles such as Deputy Mayor of Tashkent city for Economic Affairs, executive positions in major banks, and Advisor to the Rector of Samarkand International Technological University.

Dr. Kotov is an international project management professional (Prince II, UK) and a recognized academic, authoring 1 textbook, 5 monographs, 6 study guides, and over 150 scientific publications in leading journals worldwide. Mr.Kotov established and led the first Department of Securities Market in Central Asia and contributed significantly to the development of Uzbekistan’s financial and economic system.

His expertise includes economic strategy, financial sector development, international cooperation, and project management, making him a highly regarded expert in both academia and practice.

Uzi Malul

Senior Executive Advisor

Uzi Malul is a seasoned financial strategist with over 35 years of experience in international business consulting. Since founding his financial consulting firm in 1986, he has advised corporations and entrepreneurs across diverse sectors, providing expert guidance on corporate finance, strategic growth, and representation before the Israeli Tax Authority.

Recognized for his extensive professional network and proven leadership, Mr. Malul has built a strong reputation for driving business performance, enhancing operational results, and creating long-term value for his clients.

Sabina Zakirova

Partner

As Financial Analyst, Sabina evaluates the financial feasibility of market entry strategies, conducts detailed cost–benefit analyses, and develops accurate forecasts to support client decision-making. With expertise in financial modeling, investment appraisal, and risk assessment, Sabina ensures that every project is backed by solid data and aligns with both client objectives and local market realities.

Marat Nurmukhametov

Partner

Marat Nurmukhametov is a multilingual business leader with over 18 years of proven experience managing teams, driving international projects, and delivering results for clients in more than 10 countries. Skilled in strategic thinking, cross-cultural communication, and building high-performing teams, he has successfully led operations involving 50+ professionals and served 20+ global clients. Combining his leadership expertise with recent training in MBA, Marat brings a unique combination of management acumen and technical capability, enabling him to bridge business goals with technological solutions while fostering collaboration, innovation, and efficiency.

Albina Daminova

Partner

As Local Compliance Partner, Albina ensures that all client operations fully adhere to local laws, regulations, and industry standards. With in-depth knowledge of legal frameworks, licensing requirements, and government procedures, Albina safeguards smooth market entry while minimizing regulatory risks and delays.

Kamila Dekhkanbaeva

Partner

Kamila brings over 20 years of experience in travel and hospitality industries with a strong track record of advising companies and organizations on strategy, growth, and market expansion. Known for a results-driven and client-focused approach, she specializes in market entry, business development, financial consulting, public-private partnerships.

Throughout her career, Kamila has supported international and local clients in achieving sustainable growth by combining deep market knowledge, strategic insights, and a global perspective. With a reputation for professionalism, integrity, and innovation, she plays a key role in building long-term partnerships and driving successful outcomes for clients.

Marat Khamidullin

Consultant

Marat Khamidullin is a business consultant providing strategic advisory across investment, market entry, and corporate development projects in emerging markets. With a strong background in international business and investment consulting, Marat supports companies in expanding operations, building partnerships, and achieving sustainable growth.

Zokhidjon Khamidov

Consultant

Zokhidjon Khamidov is a business development and operations professional with expertise in investment facilitation, market entry, and project coordination across Central Asia. He supports international clients in establishing and managing successful ventures in Uzbekistan and the wider region.