Legal Framework for Green Investments in Uzbekistan: Analysis, Challenges AND Development Perspectives

This article analyzes the evolving legal framework for green investments in Uzbekistan within the context of the country's economic reform agenda and transition toward environmental sustainability. Through comprehensive examination of existing legislation, recent legal developments, and comparative analysis with International best practices, this study identifies critical gaps in Uzbekistan's legal regime governing environmentally sustainable investments. The research reveals that while Uzbekistan has made significant progress in establishing foundational investment legislation and implementing initial green economy strategies, the legal framework remains fragmented, with inconsistencies between general investment laws and sector-specific environmental regulations. The article demonstrates how inadequate definitional clarity of "green investments" in national legislation, limited enforcement mechanisms, and insufficient legal incentives hamper the mobilization of capital for environmental projects. Based on these findings, the study proposes specific legislative reforms including the adoption of a comprehensive Green Investment Law, strengthening of procedural rights for environmental protection, implementation of green public procurement legislation, and development of specialized dispute resolution mechanisms for environmental matters. This legal analysis contributes to both scholarly discourse on environmental law in transition economies and provides practical recommendations for legislative reforms to accelerate Uzbekistan's sustainable development objectives.

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