International Commercial Court To Be Set Up In Uzbekistan

TASHKENT (UZBEKISTAN), April 28 (Bernama) -- Uzbekistan is actively continuing its reforms to ensure investors' rights are protected, said President Shavkat Mirziyoyev in his address at the Second Tashkent International Investment Forum 2023 (TIIF-2023) on Thursday.

“We will continue our reforms in protecting the rights of entrepreneurs. In particular, the International Commercial Court will start its activities for the first time in our history. It has become possible thanks to the support of international experts”, the president further said.

The government, he noted, has greatly simplified the conditions for foreign investors to buy real estate, enter and leave the country, as well as residence permit procedures.

Significant steps are being made in terms of guaranteed judicial protection of investors’ rights.

Administrative courts, in this regard, are equipped with significant powers and more competent.

“From now on, entrepreneurs and investors do not need to prove their claim in court. Now, the state agency will need to prove the legality of its decision”, the president noted.

According to him, any arising uncertainities will be resolved in favour of investors.

Uzbekistan set the mechanisms for enforcing the decisions of international arbitration courts in national legislation.

-- BERNAMA