With new law, Mongolia opens to investors
By Stewart K Diana and Battushig Batsuren
The Great Hural, Mongolia’s Parliament, has ratified a new investment law, already in effect since 1 November, that dramatically alters the investment landscape in Mongolia.
‘The new investment law is one of the first steps in reversing the current slowdown of Mongolia’s economy and increasing the inflow of foreign direct investment,’ said Zandaakhuugiin Enkhbold, the speaker of Parliament.
The investment law eliminates current restrictions on private foreign investment, narrows Mongolian government approval requirements for state-owned foreign investment, offers a simpler and more open investment process, establishes a new agency to assist with the process and provides an array of investment incentives…
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