ANNOUNCEMENT 19 Apr 2013In April 2013, the government of Mongolia announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Mongolian Ministry of Economic Development, Government Resolution No 75/2013, Regulation on Filling and Review of Applications of Economic Entities Operating in Strategic Sectors:
Mongolian Ministry of Economic Development, Law of Mongolia on the Regulation of Foreign Investment in Entities Operating in Strategic Sectors:
On April 19, 2013, the Mongolian Parliament amended with the Resolution No 75/2013 the Law of Mongolia on the Regulation of Foreign Investment in Entities Operating in Strategic Sectors (SFI Law) enacted on May 17, 2012. This resolution aims at easing the investments of foreign private companies in three sectors considered as strategic by Mongolia: mining; banking and finance; media, information and communication.
According to the director of foreign investment at the Mongolian Ministry of Economic Development, non-state-owned foreign companies will no longer need a parliamentary review of their investments; however, approval from the government remains.