Foreign direct investments (FDI) mostly occur in a form of mergers and acquisitions (M&A) – about 90%; other two forms are joint venture and greenfield investment. Which form is the most important and efficient one for various FDI-recipient countries? The choice of any form of transnational investment depends on very large scale of factors, as an economic development level of a country, aims and rate of economy’s transformation, national government policy, etc. For example, M&A as a form dominates in developed countries, in 90s Hungary succeeded to attract significant greenfield FDI volumes. Creating a joint venture appears as the most efficient form in attracting FDI in many developing and some of CIS countries. The paper examines the particularities of FDI trends in Uzbekistan