Investment contract

04.04.2019 3088

The investment contract concluded by the Government of the Republic of Uzbekistan with foreign investors when they are granted additional guarantees and protection measures (benefits and preferences) established by law should include:

object and amount of investment;
term and conditions of the investment agreement;
rights and obligations of the investor, including the volume of investment, ensuring a certain volume of production, a guaranteed level of localization of production and product quality, the volume of exports of goods and services of own production, ensuring the return of loans attracted under the guarantee of the Government of the Republic of Uzbekistan, compliance with environmental legislation rational use of natural resources, labor laws and safety, on other aspects of the production activities;
rights and obligations of the Government of the Republic of Uzbekistan, including the provision of additional guarantees and protection measures established by law;
information on the timing of the preparation of design estimates, the conclusion of contracts for contract work, sources of financing, project implementation schedules, the procedure for technical supervision of the implementation of the investment project;
the procedure and deadlines for the foreign investor to provide reports on the progress of the fulfillment of his obligations;
responsibility of the parties for non-compliance with the terms of the investment contract; the procedure for making changes; termination procedure; resolution procedure and place of consideration of disputes arising from the investment contract. The investment contract may contain other conditions depending on the specifics of the investment project, including: mutual obligations of the parties for the development of the industrial and social infrastructure of the region;
the right of the investor to export from the Republic of Uzbekistan the products produced by him as a result of the fulfillment of the contract and the profit (income) received;
obligations of a foreign investor to hire and train employees from among individuals of the Republic of Uzbekistan, conditions for the use of technology, as well as investor’s obligations to train employees of an established organization after the completion of an investment project.