P.Ochirbat, Former President of Mongolia: Let the investors own majority

Nov 7 • Economy, Government, Interview, Laws, Mining, News • 472 Views • No Comments on P.Ochirbat, Former President of Mongolia: Let the investors own majority

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Q: What is your opinion towards the investors?
P.Ochirbat: They are waiting for the resolution of our Government. They are closely observing that how stable will be the legal environment. Also they are expecting how the Government of Mongolia support and encourage mutually beneficial cooperation.

Q: As you just mentioned, the new amendments in the Mineral Law of Mongolia is mutually beneficial alternative? P.Ochirbat: We don’t need to be stubborn to own 51%. Let the investors own 51% or bigger share. It is not that important, if the Government can tax well enough. It is very wrong that politicians are talking about owning. Right of ownership and using of the mineral belong to the State. It is also for exploitation. But the State can transfer its right to others. Then it will be correct wording. But if the Government wants to own 51%, then Government must be wealthy and provide that much portion of investment by itself. Therefore, it is important to clarify that what exactly the Government wants to own.

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