2 days ago
Humans Group initiates arbitration proceedings against the Republic of Uzbekistan
Humans Mobile Ltd (Singapore), part of Humans Group, an international holding company and owner of Humans' business in Uzbekistan, has formally initiated arbitration proceedings against the Republic of Uzbekistan before the World Bank's International Centre for Settlement of Investment Disputes (ICSID Case No. ARB/25/24).
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The grounds were a violation of the provisions of the bilateral Agreement between the Governments of the Republic of Uzbekistan and the Republic of Singapore on the Encouragement, and Protection of Investments dated 15 July 2003.
The reason behind the arbitration proceedings lies in the actions of several state authorities and state-owned companies, including the Central Bank of the Republic of Uzbekistan and the state-owned operator AK "Uzbektelecom". In September 2024, the Central Bank, in violation of established legal procedures, effectively paralyzed the operations of one of the leading players in the digital transactions market, payment organization AO "Maroqand", a key element of the Humans ecosystem. Simultaneously, AK "Uzbektelecom" began exerting pressure on the company and its management, systematically abusing its dominant position by restricting Humans' capabilities as a virtual operator, and imposing discriminatory limitations on Humans' customers.
Humans Mobile seeks compensation for the damage caused to it by the actions of several state authorities in order to restore justice and the rule of law.
'We have always believed and continue to believe in Uzbekistan and its citizens. We sincerely admire the efforts made by the President of the Republic to modernise the economy, digitalize it, and expand entrepreneurial freedoms.
'We realise that on the path of transformation, we meet opponents who nullify efforts to create a free market, increase openness and accelerate growth. We are in favour of transforming Uzbekistan with the rule of law, and without arbitrary bureaucracy.
'Arbitration is a common tool that allows investors to protect their interests from unfair treatment by the host states. Our position is that the damage caused should be compensated and the proceedings should be a step toward strengthening the principles of fair, predictable regulation and support for entrepreneurship. We believe that Uzbekistan can maintain a strong investment climate, and realize its huge economic potential,' Vladimir Dobrynin, CEO and founder Humans Group, said.
