Mongolia’s Parliament Approves Changes to Foreign Investment Law
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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.