This monograph presents a rigorously structured inquiry into the interplay between the theoretical underpinnings and the practical application of the international legal regime governing investment relations. The study meticulously dissects the status of investors within the modern legal order, delineating their rights and obligations in relation to the broader system of public international law. Particular emphasis is placed on the emergence of the investor as an international legal personality, complemented by a critical review of the parallel legislative evolution within the Republic of Uzbekistan concerning investment protection. Furthermore, the work systematically explores the fundamental dichotomy between preserving state sovereignty and adhering to international investment commitments, substantiated by a critical analysis of relevant jurisprudence from international courts and arbitral tribunals. The final chapters delimit future trajectories for the discipline, proposing specific pathways for the refinement of bilateral and multilateral instruments aimed at achieving a more robust harmonization of conflicting interests. This volume is designed to serve as a definitive resource for legal scholars, university students, and practitioners specializing in the field of international economic law. Approved by the minutes of the meeting of the Council of Tashkent State University of Law No. 4 dated 23 December 2025.