Uzbekistan Offers Robust Guarantees to Foreign Investors
Attracting Foreign Investment with Strong Protections
The government of Uzbekistan has introduced a package of guarantees aimed at attracting foreign investors and ensuring their protection in the country. These guarantees are designed to provide a favorable business environment that encourages foreign investment and promotes economic growth in Uzbekistan.
Protection for Foreign Investors
Suspension of Repatriation
According to Article 17 of the Law on Investments, the state may suspend the repatriation of funds of a foreign investor in cases of:
- Insolvency and bankruptcy of an enterprise with foreign investment
- Violation of the rights of creditors
- Criminal acts or administrative offenses committed by the investor
The suspension will be applied non-discriminatorily and in accordance with judicial or arbitral awards.
Right to Terminate Investments
Foreign investors have the right to terminate their investment activities in Uzbekistan at any time, without prejudice to their obligations towards the country or other creditors. Upon termination, they can freely repatriate their investments in cash or in-kind, without any restrictions.
Transparency and Openness
Information Access
Uzbekistan ensures transparency and openness in its investment activities by:
- Publishing information on state and local government bodies’ participation and decisions in the field of investment through official media channels
- Providing unimpeded access to information on state bodies’ and local government bodies’ activities and decisions
Investment Protection
National Laws and International Treaties
Uzbekistan guarantees investments protection in accordance with national laws and international treaties. The law aims to create a favorable business environment that encourages foreign investment and promotes economic growth.
Commitment from the Government
“We believe that our country offers significant opportunities for investors, and we are confident that these guarantees will help to attract more foreign investment and promote economic growth,” said [Name], Minister of Investment and Foreign Economic Relations. “These guarantees demonstrate the government’s commitment to attracting foreign investors and ensuring their protection in Uzbekistan.”
Effective Date
The validity of these guarantees starts from the date of establishment of an enterprise, acquisition of property or intellectual property rights, signing of a concession agreement, or investing with simultaneous securing of investment commitments.
By providing robust guarantees for foreign investors, Uzbekistan is committed to creating a favorable business environment that encourages investment and promotes economic growth in the country.