Mongolia’s Parliament Approves Changes to Foreign Investment Law - Bloomberg: "Mongolia’s parliament approved an amendment to its foreign investment law, easing some restrictions on overseas private companies while maintaining controls on state-owned groups, after a slump in investments.
The changes remove the need for parliament to review investments by non-state owned companies, said Sereeter Javkhlanbaatar, director of foreign investment at the Ministry of Economic Development, by phone from Ulaanbaatar. Deals involving state-owned companies or companies with government equity will still need to be reviewed if the investment is more than 49 percent.
The amendments may help to boost investor confidence following protracted disputes with key Mongolian investors, including Rio Tinto Group. Foreign direct investment in Mongolia declined 17 percent last year and is down 58 percent in the first two months of this year."
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