Proposed amendment to the SFI Law of Mongolia: not the cure-all as advertised

There has been much speculation during the past several weeks about a potential liberalisation of the Law of Mongolia on the Regulation of Foreign Investment in Business Entities Operating in Sectors of Strategic Importance (the Strategic Foreign Investment Law, or the SFI Law) that was enacted on 17 May 2012. On 8 April 2013, a proposal to amend the SFI Law appeared on Parliament’s official website. The draft amendment is reportedly scheduled for discussion this week by Parliament. This follows on from reports that the Cabinet approved a draft version of the Regulations on Receiving and Determining Applications by Business Entities Operating in Strategically Important Sectors (the Draft Implementing Regulations) in early March. The Draft Implementing Regulations have yet to be published in the official state gazette but have been circulated unofficially among Government departments and businesses in Mongolia…

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