Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

Within the framework of the 5th Anniversary Tashkent International Investment Forum, a prestigious panel session dedicated to one of the most critical areas of international commercial and investment law was held on the topic “Putting Uzbekistan on the Global Arbitration Map.”

The following leading experts from international arbitration centers, foreign law firms, and the legal sector participated in this prestigious strategic dialogue platform:

• Charles Thay - Managing Director at IDR Chambers Singapore (Moderator)
• Joanne Lau - Secretary-General of the Hong Kong International Arbitration Centre (HKIAC)
• Carolyn Lamm - Partner at White & Case international law firm
• Diana Bayzakova - Director of the Tashkent International Arbitration Centre (TIAC)
• Hussam Al Talhuni - Partner at MAS LAW law firm
• Michael Davar - Partner at Squire Patton Boggs international law firm
• Mark Ludwikowski - Partner at Clark Hill PLC international law firm

The session focused on Uzbekistan’s growing role in the global arbitration landscape and the importance of establishing a predictable, transparent, and investor-friendly dispute resolution framework. Participants discussed the evolution of international arbitration, the enforcement of arbitral awards, modern dispute prevention mechanisms, and the institutional reforms strengthening investor confidence in Uzbekistan.

Speaking during the session, Diana Bayzakova, Director of the Tashkent International Arbitration Centre (TIAC), highlighted the rapid development of the institution and its contribution to building a modern arbitration ecosystem in the country.

“During the first five months of 2026 alone, TIAC registered cases with a total claim value exceeding USD 75 million. However, institutional growth is driven not only by innovative features such as our zero administrative fee policy and strict conflict-of-interest safeguards, but also by the strong ecosystem we have built through cooperation with businesses, legal professionals, academic institutions, and government bodies,” she noted.

According to the speakers, one of the most significant developments in recent years has been the establishment of strategic international partnerships aimed at strengthening Uzbekistan’s position as a regional arbitration hub. Particular attention was paid to the cooperation between TIAC and the Hong Kong International Arbitration Centre (HKIAC), including the introduction of the TIAC-HKIAC Cross-Institutional Rules.

Joanne Lau, Secretary-General of HKIAC, described the initiative as a groundbreaking example of cooperation between arbitration institutions.

“The cross-institutional rules represent a genuine and structured form of collaboration between two arbitral institutions. They allow parties to benefit simultaneously from HKIAC’s extensive international experience and TIAC’s regional expertise and accessibility. This partnership demonstrates that Uzbekistan is innovative, forward-looking, and willing to introduce new solutions that better meet the needs of investors and businesses,” she emphasized.

Participants also discussed the establishment of the Tashkent International Financial Centre and its potential role in strengthening the country’s attractiveness for international investors.

Drawing on the experience of Hong Kong, Joanne Lau stressed the importance of accessibility and predictability within the legal framework.

“When investors are familiar with the legal system and can reasonably predict how commercial disputes are likely to be resolved, confidence grows significantly. Predictability remains one of the most important factors influencing investment decisions,” she noted.

Sharing the experience of the United Arab Emirates, Hussam Al Talhuni emphasized that investor confidence depends on the existence of reliable institutions, internationally recognized legal standards, and effective dispute resolution mechanisms.

“Investors do not only assess commercial opportunities. They also evaluate how their rights will be protected. Strong institutions, predictable legal frameworks, and judicial support for arbitration play a decisive role in creating a trusted investment environment,” he said.

The issue of due process and enforcement of arbitral awards was another central theme of the session. Speakers noted that international investors place particular importance on legal certainty and confidence that disputes will be resolved fairly and efficiently.

Michael Davar highlighted that Uzbekistan has already established a solid legal foundation through the adoption of international arbitration legislation based on the UNCITRAL Model Law and its commitment to the New York Convention.

“International investors are ultimately looking for reliability, predictability, and fairness. Uzbekistan has already built much of the legal architecture required to support these principles. The continued development of judicial practice and institutional capacity will further strengthen confidence in the country as a seat for international arbitration,” he stated.

Summing up the discussion, participants agreed that the ongoing institutional reforms, development of modern arbitration mechanisms, expansion of international partnerships, and strengthening of legal infrastructure are steadily positioning Uzbekistan as an emerging center for international arbitration and dispute resolution in the wider Eurasian region.