Regulations on the procedure for concluding, amending, terminating and implementing investment treaties between the Government of the Republic of Uzbekistan and foreign investors

Regulations on the procedure for concluding, amending, terminating and implementing investment treaties between the Government of the Republic of Uzbekistan and foreign investors have been adopted and are annexed to Cabinet of Ministers decision 264 of 30 April 2020.

An investment treaty with the Government is concluded to provide the investor with additional guarantees and support measures (benefits and preferences) in addition to those provided by the legislation. This may be a government guarantee, a special custom, tax and payment regime, project promotion, investment programme, etc. However, it is prohibited to grant an investor exclusive rights giving him or her a dominant position in the market.

Additional tax, customs and other mandatory payments benefits are granted to established foreign investment enterprises only for a specified period of time and may not be open-ended.

The investment treaty, as well as its amendments and supplements, shall be concluded in writing. The procedure in both cases shall be the same. The Ministry of Investment and Foreign Trade signs the agreement on behalf of the Government. The initiator is an investor – independently or jointly with the State administration, local authorities, local authorities or local authorities.

Additional guarantees and support measures (benefits and preferences) shall terminate upon expiry of the investment contract or before expiry in the manner provided for in the treaty.

The arrangements described above do not apply to investment contracts concluded with regional authorities in the implementation of projects with a foreign investment share of no more than $10 million.

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