LEGAL BASIS FOR INITIATING AN INVESTMENT DISPUTE IN ACCORDANCE WITH THE LEGISLATION OF THE COUNTRY OF UZBEKISTAN

Abstract

The article examines the justified bases for a large-scale reform of the legislation for legal basis for initiating an investment dispute in accordance with the legislation of the country of Uzbekistan. A review of the updated legal regulation of the resolution of investment disputes is being carried out on the basis of the Law of the Republic of Uzbekistan “On Investments and Investment Activities”, which entered into force on January 26, 2020 and other legislative acts. The main factors that led to the need to develop and adopt in the above mentioned Law new legislative norms for resolving investment disputes, as well as its main novelties on the part of the international community are studied. Particular attention is paid to the legal framework for investment arbitration based on international treaties, as well as a multi-level procedure for resolving investment disputes. A comparative analysis of this legislative approach to resolving investment disputes is carried out with international experience.

In addition, the specific provisions of the new Law of the Republic of Uzbekistan “On Investments and Investment Activity” in terms of norms for resolving investment disputes are analyzed.