Mongolia revises its regulatory framework for foreign and domestic investment

The Government of Mongolia has proposed to amend its regulatory framework for investment activities in a bid to reverse a decline in foreign investment and to revive the economy. Last week, the Government submitted the draft Law of Mongolia on Investment ("Draft Investment Law") to Parliament for consideration during an extraordinary session to be held from 16 September to 27 September 2013. If adopted, the Draft Investment Law will replace the Law of Mongolia on Foreign Investment, enacted on 10 May 1993, as amended ("Foreign Investment Law") and the Law of Mongolia on the Regulation of Foreign Investment in Business Entities Operating in Sectors of Strategic Importance, enacted on 17 May 2012, as amended ("SFI Law").

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