Mongolia to investors: I want you back - BUSINESS NEW EUROPE: "The government of minerals-rich Mongolia is beginning to exhibit a return of warm feelings towards foreign investors with winter's thaw.
After nearly 10 months of increasingly frosty relations with foreign investors that began with the passing of the Strategic Entities Foreign Investment Law (SEFIL), the government is making noises about drawing up an amendment to the law that relaxes restrictions on private investors.
SEFIL's passage was initially a defensive strike by government against a $926m bid from state-owned Aluminum Corporation of China Ltd. (Chalco) for a majority of coalminer SouthGobi Resources last year. Many Mongolians saw it as a step towards shackling their country to their southern neighbour, even as it was experiencing a mining boom that helped propel economic growth to 17.3% in 2011, cited by many as the highest in the world that year."
'via Blog this'
