Tashkent, Uzbekistan (UzDaily.com) -- On 28 April, the second day of the Tashkent International Investment Forum included a panel session: "Justice for Business: Present and Future".

The speakers of the session were Mary-Anne Birken, former General Councel of the EBRD; Dilmurod Kasimov, Business-ombudsman in the Administration of the President of the Republic of Uzbekistan; Willem Douw, Acting Manager of IFC Market Creating Markets Advisory projects; Hansel Pham of White and Case and Anton Konnov of Allen & Overy. Diana Bayzakova, General Director of Tashkent International Arbitration Centre (TIAC), moderated the session.

It was noted in the session that various mechanisms help businesses to protect their interests in court proceedings. But, as practice shows, not all of them work effectively and provide justice. Often, bureaucracy and slow litigation slow down business development and result in high costs.

The speakers raised the issue of organizing an efficient dispute resolution system for business, discussed measures to speed up case handling to reduce costs, and the impact of the digital age on the speed and fairness of dispute resolution.

Diana Bayzakova began the panel session by stating that investors need a stable judicial system.

- As you know, it is important for investors and entrepreneurs to have legal protection for their businesses. Protection of rights has grown in Uzbekistan, and we've started defending and supporting people in business and preventing corruption,- noted Dilmurod Kasimov, business-ombudsman in Administration of the President of the Republic of Uzbekistan.

The economy has reached a new level, and the measures taken for business have been welcomed by other countries, Kasimov added.

He also spoke about the activities of the Business Ombudsman Institute. Thus, it is aimed at resolving complaints of businessmen who have been affected by problems. Over 600 complaints were received during the last year and now they are being considered. Protection of medium and small businesses is a priority task, emphasized Dilmurod Kasimov.

Mary-Anne Birken, former General Councel of the EBRD, shared details of the future activities of an international commercial court, the plans for which were announced by Uzbek President Shavkat Mirziyoyev during the first day of the Tashkent International Investment Forum.

- Today, such courts are widespread around the world. Now the process of developing it in Uzbekistan is already underway. The court's task is to resolve international business disputes. This institution will operate on the basis of English, rather than local law.  Documents could be submitted in English. The judges will be international. The selection will consider their experience in solving investment cases and their language skills. Usually, foreign investors have high confidence in such courts," explained Mary-Anne Birken.

Willem Douw, Acting Manager for IFC Creating Markets Advisory projects, stressed the importance of the forum: "Issues related to law and arbitration can only be solved in such forums".

Hansel Pham, partner at White and Case, also commented on the importance of a legal framework to protect investors' rights and interests:

- Of course, there is a need for a legislative framework. When entrepreneurs are going to invest, the first thing they look at is the law. But the importance is not only on how the law is written, but also on how it is implemented. There are international agreements between Uzbekistan and other countries. It is very important for investors to have access to these arrangements and protections through separate investment contracts.