Mongolia has been called to several courts in alien territory due to many claims raised by foreign companies and institutions, such as Golden East Mongolia case has been luring at international arbitrage court recent years. Hence, the Government made resolution to hire internationally recognized and well-known legal company.
On September 9 2010, the Cabinet Meeting made resolution to hire internationally recognized and reputable legal consultancy company to represent the Government of Mongolia at the foreign courts and arbitrage courts and provide legal support and assistance to the Government of Mongolia in making agreement on the major projects and newly planned initiatives.
The consultancy company will be selected according to the related laws and regulations and MP Ch.Khurelbaatar, Minister for Cabinet Secretariat, was assigned in selecting such company
Minister Ch.Khurelbaatar has more on the decision.
Q: What is the main reason of hiring internationally recognized consultancy company?
Ch.Khurelbaatar: There are many important projects that are crucial for the development of Mongolia, such as Oyu Tolgoi and Tavan Tolgoi, Railway transportation, Sainshand Industrial Complex. It is necessary to partner with legal consultancy company in order to achieve all these works. Of course, Mongolia is interested in implementing and hosting businesses that meet with the international norm and laws and arranged by the international laws.
Therefore, Mongolia will hire an internationally recognized legal company to build agreements with international companies under same treatments where the disputes can be solved according to the international laws. In doing so, Mongolia will minimize its future risks and mistakes. Previously, Mongolia underwent several legal claims initiated by Golden East Mongolia, Rostov Oil and Gas, Marubeni and so on. Mongolia hired legal companies for each cases spending millions over the case. Such temporary arrangements will be ended and in reverse, long term partnership relations will develop.