Are foreign investors treated worse than Uzbek ones?

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Accepted Answer

The law says no, twice — national treatment, and a ban on discrimination by where you or your money come from. National treatment The regime for foreign investment may not be less favourable than for Uzbek investors. Fair and equitable And not less favourable than a treaty gives — with full and constant protection and security. No discrimination By citizenship, residence, place of economic activity, or the country the investor or investment comes from. Even the state Where the state is a co-founder it holds equal rights and obligations with the others. But Sectors may be restricted or closed to foreign investment — for national security, health, flora and fauna, the environment; the law does not list which. Two provisions carry this and they approach it from different directions. One guarantees foreign investors and their investments fair and equitable treatment with full and constant protection and security, no less favourable than a treaty provides and no less favourable than the regime for investments by Uzbek persons. The other bans discrimination between investors by citizenship, place of residence, place of economic activity, or the country of origin of the investor or the investment — and adds that where the state itself is a co-founder of a business it has the same rights and obligations as any other participant. The qualification is real but unspecific: legislation may restrict or prohibit foreign investment in particular areas of the economy, in public health, in the protection of animal and plant life and the environment, and to protect national security, in accordance with treaties and international law. The Investment Law states that such restrictions may exist and does not list them, so a sector question is answered from the sector’s own legislation.

Are foreign investors treated worse than Uzbek ones?

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