This is a contentious problematic issue affecting foreign investors and points out at how control of profile and direction of foreign investment is carried out by Uzbek government. Therefore, policies for foreign investment are not controlled by principles of market economy. Many strategic government enterprises have not been privatized including utilities and production of hydrocarbon and major minerals. The government is therefore interested in joint-venture promotion where state enterprises partner with foreign investors who provide technology and the required capital.Law for foreign investment provides impartial treatment rights assurances, and guaranteed protections on issues which include repatriation of profit and expropriation which are important to any foreign investor. Protections assure investors that legislation which negatively affects the status of foreign are not implemented for a period of ten years from the time investment is set. In addition foreign investors are given a chance to select favourable terms in the future subsequent legislations .Law for foreign investment have provisions that are exclusive for foreign investment enterprises in regard to export and import rights and arrangements for foreign currencies. There is only one instance where the law for foreign investment is unfavourable. This is where it stipulates that in instances where chartered fund is not constituted within a year, the company in question will be deemed insolvent. In addition, provisions in the previous legislation which allowed national shareholders to acquire shares of foreign investors at the current market price in situation where they are disposed have been removed.Conversion of Som to hard currency is not easily and is rationed by. Implementation of International Legal Standards in The Investment Legislation of Uzbekistan.
United Nation. United nation conference on trade and development: investment policicy review of uzbekistan.Newyork and Geneva, 1999:2-65.
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