Parliament to cancel two laws to boost FDI

Aug 16 • Featured, News, State Affairs • 2454 Views • 1 Comment on Parliament to cancel two laws to boost FDI

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In the coming month,  the SGK or Mongolian parliament will have a special session due to the current foreign investment condition. The session will be held from 2nd to 6th of September.

The controversial Strategic Investment Law (Strategic Enterprises Foreign Investment Law) will be repealed along with the old Foreign Investment Law. Also, the parliament will discuss the Law on Investment to stabilize tax to protect and boost the investment coming from both abroad and domestic.

Moreover, there will be a discussion on necessary measures to be taken to tackle the economic difficulties the country is facing.

The Mongolian National Broadcaster confirmed that 63 of OT LCC employees has been given notification of redundancy, and over 300 of underground development contractor RedPath staff will no longer be employed.

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One Response to Parliament to cancel two laws to boost FDI

  1. The week foreigners are welcome to Mongolia says:

    Great news.
    Now with so many foreigners in town that week for conferences (and more afterwards in UB and overseas),
    I just hope all (not only with GOM and MPs) will take that very seriously and it goes smoothly, very smoothly,
    so that when foreigners board the planes on the way back home, they leave with only very positive impressions of Mongolia on ALL counts … so that it translates into FDI inflow at the earliest!!
    A magic window of opportunity for Mongolia!!
    Fingers crossed.

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