Under the Protection of the Law
In any country investments constitute an important condition for the development of the economy, and improvement of investment climate guarantees the investment inflow growth. Among factors being attractive for investors, the factors of stability and predictability of legislation are of prime importance. Any investor, before investing to this or that country, studies its legislation, and, first of all, that one which is targeted at protection of his interests. For purposes of creating of favorable conditions for entrepreneurs and foreign investors, the legislative basis is constantly improving. Great part in stirring up the business environment belongs to the decrees and resolutions issued by the President: "On Measures for Speeding-up Implementation of Priority Trends in the Sphere of Intensification of Market Reforms and Further Liberalization of Economy", "On Measures for Further Improvement of System of Legal Protection of Entrepreneurship Entities", "On Additional Measures for Boosting of Development of Micro Firms and Small Enterprises", "On Improvement of System of Reporting to be Presented by Entrepreneurship Entities, and on Raising of Responsibility for its Unlawful Demand", "On Reduction and Simplification of Types of Permissive Procedures Applicable to Entrepreneurship" and "On Measures for Further Reduction and Improvement of System of Checks Applicable to Entrepreneurship Entities".
At present, issues of obtaining foreign capital investments and protection of the foreign investors' interests, as well as granting of incentives and guarantees to investors is being regulated by the laws "On Foreign Investments" and "On Guarantees and Measures of Protection of the Rights of Foreign Investors". Definitions of "foreign investors" and "foreign investments" are specified in the first of the mentioned laws, and the second law prescribes one of the key guarantees envisaged by Article 3 of the law "On Guarantees and Measures of Protection of the Rights of Foreign Investors"; in compliance with the article, if any subsequent legislation impairs the investment conditions, then the legislation impairs the investment conditions, then the legislation in force on the date of investment shall be applicable to foreign investments for ten years from the moment of investment. Any foreign investor, at his discretion, shall be entitled to apply those provisions of the new legislation which improve investment conditions.

Rules for Foreign Journalists
Resolution of the Cabinet of Ministers # 33 dated February 24, 2006 approves Basic Rules regulating professional activity of foreign mass media correspondents in the territory of the Republic of Uzbekistan. The Rules regulate issues of accreditation and activity of foreign mass media representations and their correspondents. Compared to the previously effective requirements, the new Rules have regulated, in particular:

• submission of documents required to establish press stations of any foreign mass media;
• changes in the system of extension of accreditation for foreignjournalists;
• issuance of multiple visas;
• additional responsibilities of foreign correspondents that prescribe to submit to tax authorities such bank documents which relate to computation and payment of taxes from revenues obtained after their journalist activity.

One Denunciation per Three Ratifications
Parliament of the country has adopted the laws which ratify:
- Allied Relations Treaty between the Republic of Uzbekistan and Russian Federation (signed in Moscow on November 14, 2005);
-  Protocol on Modifications and Addenda to the Treaty on Establishment of the Eurasian Economic Community dated October 10, 2000 (signed in Saint-Petersburg on January 25, 2006);
- Protocol on Uzbekistan Joining the Treaty on Establishment of the Eurasian Economic Community dated October 10, 2000 (signed in Saint-Petersburg on January 25,2006);
In compliance with these documents, the Republic shows strong commitment to fulfill its international liabilities. In accordance with Law # 3PY-23 dated March 9, 2006, the Convention of GUUAM Participating Countries on Mutual Assistance on Consular Matters (signed in Yalta on June 7, 2001) has been denounced. Uzbekistan has disclaimed its liabilities under this international treaty.

Material from published articles
compiled by Uzbek A. Rustamov,
General Representative, Interconcepts Inc.
Translation to English: Lyubov Belokon