Foreign Investment Lawyer in Uzbekistan

Investment projects in Uzbekistan

Over recent years Uzbekistan has opened its economy to foreign capital and launched a broad programme of investment in energy, mining and metallurgy, manufacturing, transport, utilities and social infrastructure. Investors are offered a growing set of legal guarantees, special economic zones and project-specific arrangements with the state. Turning these opportunities into bankable, well-protected projects, however, requires careful structuring and a clear understanding of how Uzbek law and administrative practice work in reality.

LEXGLOBAL is a law firm in Uzbekistan advising local and international companies on doing business in the country. Our lawyers have long-term experience with international companies and cross-border projects in Uzbekistan and Central Asia, including work with China Petroleum Pipeline Engineering, Sinohydro and AMIKAM International Group. As foreign investment lawyers in Uzbekistan, we focus on the issues that matter most to investors and their financiers: security of rights, predictability of the regulatory environment and enforceability of contracts.

Legal framework for foreign investors

Law “On Investments and Investment Activities”

The Law “On Investments and Investment Activities” (2019) is the core statute governing investment in Uzbekistan. It defines forms of investment, the rights of investors and a set of state guarantees, including guarantees relating to the transfer of funds, protection against unlawful expropriation and stability in certain cases of adverse changes in legislation. We analyse how these guarantees apply to a particular project and how they can be reinforced through contractual arrangements.

Incentives and special regimes

Investment projects may qualify for tax and customs incentives, special economic zone regimes or support established by individual government decisions. The availability and conditions of such measures change over time and often depend on the sector, location and size of investment. We review the current framework for each project and help clients understand the obligations that come with incentives, such as investment commitments and localisation targets.

Structuring and implementation

Investment vehicle and holding structure

We advise on the choice of local vehicle, the holding structure, financing arrangements and the interaction between Uzbek corporate, currency and tax rules and the investor's home jurisdiction. Early decisions on structure affect the ability to repatriate profits, bring in co-investors and exit the project.

Agreements with the state

Many large projects involve investment agreements, agreements with ministries, regional authorities or state-owned companies, and commitments regarding land, utilities and offtake. We draft and negotiate these documents so that the obligations of the state are clearly defined and supported by appropriate remedies and dispute resolution mechanisms.

Public-private partnership

The Law “On Public-Private Partnership” (2019) provides the framework for PPP projects in Uzbekistan. We assist private partners at each stage: analysis of the tender documentation, consortium arrangements, negotiation of the PPP agreement, risk allocation, termination and compensation provisions, and the interface with lenders' requirements.

Project documentation

We prepare and review the contracts that make up a project: EPC and construction agreements, equipment supply, offtake and purchase agreements, operation and maintenance contracts and shareholder arrangements. Our task is to ensure that these documents are consistent with each other and with the commitments made to the state and to lenders.

Protecting the investment

Investment disputes rarely begin as disputes. They usually start with a delayed permit, an unexpected inspection or a disagreement on contract performance. We help investors respond early, engage constructively with state authorities and preserve their rights under Uzbek law and applicable international instruments. Where a dispute cannot be avoided, we support clients in negotiations, court proceedings and arbitration.

Why investors work with LEXGLOBAL

• Experience with international investors and contractors on cross-border projects in Uzbekistan and Central Asia
• Practical, commercially relevant advice aligned with project timelines and financing requirements
• Services in Uzbek, Russian and English
• A long-term legal partner from feasibility stage to operation

If you are evaluating an investment opportunity or preparing for negotiations with Uzbek counterparties, our lawyers in Tashkent can provide comprehensive legal services in Uzbekistan for your project.