Mongolia: change of tack to get foreign investors back | beyondbrics: "Mongolia’s parliament passed an amendment on Friday to its controversial foreign investment law of last year, which should allow over 100 pending investment deals in the country to now progress.
The Strategic Entities Foreign Investment Law (SEFIL) was rushed through parliament in May 2012 as protests grew about the increasing foreign (ie Chinese) control over the country’s vast mineral wealth. But the wide-ranging nature of the law caused foreign investment to fall through the floor.
The new amendment to SEFIL exempts private sector foreign companies from the full scope of the law, which demands government approval for the purchase of any stake in a Mongolian company operating in the mining, banking and finance, communications and media sectors in Mongolia."
'via Blog this'
