Supportive Environment
Uzbekistan’s transformation offers real opportunities for foreign investors to expand their presence in the country. Uzbekistan has made significant strides in creating a business-friendly environment through various reforms, infrastructural improvements, and changes in governance.
Central Asian International Financial Center
The Foreign Investor Council under the President of Uzbekistan was established in 2019. Operating under a presidential decree, it facilitates dialogue between the government and major foreign investors. Meeting quarterly, the Council is composed of representatives from international corporations, diplomatic missions, and financial institutions. Members can discuss and propose changes to laws and regulations. The Council has helped resolve investor disputes, advised on investment strategy, and supported public-private partnership frameworks. Uzbekistan's ongoing reforms, infrastructural development, and improved governance have significantly boosted its ranking in international business indices and attracted foreign investment.
Tashkent International Arbitration Center
The Tashkent International Arbitration Center (TIAC), established in 2018, was created to improve Uzbekistan's investment climate. Operating under the 2021 International Commercial Arbitration Law it is also compliant with the UNCITRAL Model Law. TIAC offers tax exemptions and work permit waivers for foreign arbitrators, and allows the application of foreign laws. Arbitrators can operate without local law licenses, and TIAC’s decisions are enforceable globally under the New York Convention. TIAC conducts multilingual and online arbitrations, and has handled nearly 70 international cases. Some key incentives include zero administration fees, a strategic partnership with HKIAC, and specialized rules for technology disputes.
Foreign Investor Council under the President of Uzbekistan
The Foreign Investor Council under the President of Uzbekistan was created in 2019. Operating under presidential decree, it facilitates dialogue between the government and major foreign investors. Meeting quarterly, the Council compromises of representatives from international corporations, diplomatic missions, and financial institutions. Members can discuss and propose changes to laws and regulations. The Council has helped resolve investor disputes, advised on the investment strategy and supported public-private partnership frameworks. It has played a role in improving Uzbekistan's ranking in international business indices and attracting new foreign investment.