Mongolia seeks to limit restrictions on foreign investment - BUSINESS NEW EUROPE: "The Mongolian government has drawn up an amendment to the country's controversial Strategic Foreign Investment Law that would relax restrictions on private investors.
The move is a reaction from the government to rising problems provoked by the recent resurgence in resource nationalism in both Mongolia and the wider Central Asian region. Protectionist forces pushed through the original legislation in 2012; it currently requires foreign companies secure permission from parliament before acquiring a stake greater than 49% in any company in a strategically important sector of the economy.
The proposed amendment would limit this restriction to foreign state-owned companies, thereby exempting private companies, Prime Minister Norov Altankhuyag announced, according to reports in the Mongolian press. The law applies to companies in the mining, finance and communications sector. "
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