Comparative Analysis Of Interaction Of Norms Of International Law And The National Legislation Of Uzbekistan,Regulating Investment Activity

The principal objective of this thesis is to examine the scope of investment treaty protection against the host state's interference with foreign investment, and to identify the frontiers of state responsibility under international investment agreements in light of the decline of expropriation and the rise of non-expropriator standards of treatment, including the standard of national treatment, air and equitable treatment and umbrella clauses. In making a foray into the stormy relationship between the protection of foreign investment and the host state's freedom to intervene in the marketplace in the exercise of its regulatory functions, this study is embedded in the wider context of the ongoing debate about the design of the mechanism of investment protection, as well as its function in practice. It is argued that the expropriation standard does not provide an adequate framework for determining investor claims against host states. The thesis puts forward a proposal to abandon expropriation and to adopt a unified standard of treatment based on the guarantees of non-discrimination, non-arbitrariness and due process of law.This thesis seeks to identify distinctive inhibitions in the implementation of international legal; standards in international laws of Uzbekistan. This study is necessitated by the continued disparity between implementation of international commerce laws and their dismal efficiency in draw foreign investment. Despite the country's effort towards enforcement of international trade laws, there is persistent low FDI in the country compared to other central Asia countries. This is happening despite the central placing of Uzbekistan in the region, the superior human resource base, compared to its neighbors, and the expansive indigenous resources in the country. This highlights the need to identify the cause of these inhibitive phenomena. In sight of decreasing GDP and the global continued pressure on fossil energy, more investment in oil the nation is a priority.Western investors are not eager to invest in the country, while trade volumes with china are low. This study focuses on relationship between Uzbekistan and PRC. A proposed cause of this problem was the disproportion between the domestic laws in both countries. The researcher evaluates the possibility of the differences in the source and nature of domestic laws in both countries as being an inhibitor in the development of effective international investment law that meet international standards, and are efficient in attracting FDI. The research employs comparative law research methodology. This involves the evaluation of the two legal systems, and identifying disparities in local laws that could be detrimental to effective implementation of international law.The investment law of the Republic of Uzbekistan with the short character is resulted. Come to light similar and distinctive features of principles of the investment right with principles of other branches of the right. Unclear ideas about investing in international business relations as an economic phenomenon, have led to the fact that the doctrine of international relations, and international law there is no indisputable legal definition of international investment.The practice of legal regulation of investment processes is on the way, when the concept of "international investment" is defined each time a specific piece of legislation pursuing that goal or any other regulation. At the same regulatory objectives, in different cases can vary significantly, resulting in the different legal models, and the concept of "investments" that are placed in one or another normative act.This article is divided into five chapters.Chapter one is ready for the theory research of specific performance, to clear the connotation and extension of the General description of the legal regulation of international investment. First of all, it should be noted that an important source of regulatory investment activities are acts of international law multilateral international conventions, bilateral investment treaties and agreements on mutual protection and promotion of investment, international custom, and well as resolutions that are adopted by international organizations as well.The sources of international law are reviewed in Chapter Two in order to assess whether, and under what circumstances, international law obliges states to pay compensation for regulatory expropriation. The paucity of sources demonstrates that international law has failed to develop clear rules to determine what government measures amount to expropriation.Chapter Three draws on the analysis in Chapters One and Two to develop a framework for how international law should treat claims of regulatory expropriation. I argue that the development of a legal framework for the treatment of foreign investment, including the treatment of claims for regulatory expropriation, is best founded on a policy that views the level of investment protection as instrumental to the maximization of global social welfare resulting from foreign investment flows. Investment protection is primarily an instrument of economic policy and reference solely to the respect for property rights does not serve as a compelling basis for the development of international law on investment protection.Chapter four also addresses the complex interrelationship between international investment law and international trade law. Finally, the chapter will discuss the concerns and problems of the foreign investors have to deal with. And The final chapter in is about regulations fragmented in the full text, including laws of the international law countries, the legal regulation of foreign investment and dispute resolution in the legislation of the CIS.