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The economy of Uzbekistan is dependent on a range of commodities such as oil and gas, gold, uranium and cotton. With low exposure to financial markets and relative isolation, the economy escaped the rigors of the financial crisis. As a result, the country has enjoyed significant growth, which is expected to continue. Furthermore, the recently elected Uzbek leaders have implemented a wide and ambitious program to create a more favorable environment for businesses and investors which has had a positive impact on the foreign investment.

In order to take advantage of this market, you need a partner with deep knowledge of the country’s legal, political and economic issues.

Dentons understands this market. A pioneer in the CIS and Central Asia region, we have been working in Uzbekistan since 1995. Dentons negotiated one of the first mining contracts in the country. In 2000, Dentons opened a permanent office in Tashkent.

In June 2017, we expanded our office in Tashkent through a combination with highly ranked Uzbek firm Avent Advokat, adding a team of ten lawyers who are fluent in Uzbek, Russian and English. Currently Dentons’ office in Tashkent is one of the top legal practices in Uzbekistan.

Dentons’ clients in Uzbekistan benefit from our thorough knowledge of the laws and business practices of the country gained through many years of experience in the country. We support clients from a broad range of industries, including oil and gas, mining, transportation and infrastructure, banking, automotive, telecom, and FMCG. We regularly advise on a wide variety of transactions and matters, including mergers and acquisitions, company law, finance and capital markets transactions, dispute resolution, construction, employment, health, safety and environmental matters, licensing and permits and other regulatory compliance issues etc.

The legal sector has high regard for the experience and professionalism of our Tashkent office, ranked as "top tier" in the most recent editions of The Legal 500 and Chambers Global.

Recognition

Chambers Asia-Pacific 2025 - Dentons unrivalled in Central Asia

December 12, 2024

In the 2025 edition of the Chambers Asia-Pacific guide, Dentons has received Band 1 rankings across all practices assessed in Azerbaijan, Kazakhstan, and Uzbekistan, retaining its leading position in Central Asia. 

Dentons' offices in Central Asia top-ranked in IFLR1000 2024

November 14, 2024

In the 2024 edition of IFLR1000, Dentons' offices in Kazakhstan and Uzbekistan have maintained Tier 1 ratings across all practices assessed in those jurisdictions, confirming the firm’s leading position in Central Asia. 

Dentons boosts its quality rankings in The Legal 500 EMEA 2024

April 3, 2024

The Legal 500 EMEA 2024 has awarded Dentons 260 practice and sector rankings across Europe, Middle East and Africa, including 82 Tier 1 and 82 Tier 2 standings. The Firm earned 35 new or improved practice rankings, confirming the ever-strengthening scope and quality of client services. In addition, we received a total of 282 individual rankings for 234 Dentons lawyers in 37 jurisdictions placing them among the leaders in their respective practice areas. 

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Insights

Uzbekistan’s digital overhaul: Digital platforms regulation

May 14, 2025

Uzbekistan: Regulation of the digital sphere in Uzbekistan moves a step closer to European standards. On 12 May 2025, the Agency for Information and Mass Communications under the Administration of the President of the Republic of Uzbekistan has proposed a draft regulation on online platforms for public consultations.

Uzbekistan approves new privatization law

March 26, 2024

Uzbekistan: A new law that will impact purchases of state-owned property has been approved. The Law LRU-907, “On privatization of state property” was approved by the President of the Republic of Uzbekistan on February 14, 2024 and will go into effect from May 16, 2024. 

Exporting pharmaceutical products to Uzbekistan: 10 key factors to consider

March 18, 2024

Uzbekistan: The pharmaceutical market in Uzbekistan was estimated in 2022 to be worth UZS 19.9 trillion (approximately US$1.8 billion), with prescription drugs accounting for 78 percent and over-the-counter medicines making up the remaining 22 percent. Every aspect of a medicine’s lifecycle—from development and manufacturing to distribution, advertising and sales—is subject to Uzbekistan regulations.

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News and Events

Recent Press Releases

Dentons advises on US$300 million equivalent Syndicated Term Loan Facility for Asakabank

May 8, 2025

Dentons is proud to announce the successful closure of a US$300 million equivalent senior unsecured dual-currency term loan facility for Asakabank. The syndication was met with overwhelming interest, achieving a substantial oversubscription of 3.5 times the facility's launch amount. A total of 22 institutions from across the globe participated in the facilities, underscoring the strong international confidence in Asakabank and the Uzbek market.

Dentons advises Korzinka on US$ 110 million equity capital investment

April 3, 2025

Global law firm Dentons has advised Korzinka, Uzbekistan’s leading supermarket chain, on securing a US$110 million equity investment from Abu Dhabi Uzbek Investment and a consortium of Omani sovereign investment funds, led by Uzbek-Oman Investment Company.  The deal represents one of the largest private investments in Uzbekistan in recent years.

Fayzulla Khusankhodjaev joins Dentons’ team in Uzbekistan

March 27, 2025

Global law firm Dentons has strengthened its Corporate and M&A practice in Tashkent with the recruitment of partner Fayzulla Khusankhodjaev, who joins effective April 1, 2025. Fayzulla Khusankhodjaev has more than 13 years’ legal experience in both external and in-house counsel roles. He advises both foreign investors and domestic clients on commercial, corporate, investment, intellectual property, antitrust and banking law.

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