Mongolia

Mongolia

Passes a new Investment Law

01 Nov 2013

The Parliament of Mongolia passed a new Investment Law which took effect on 1 November 2013. The new law eliminates restrictions on private foreign investment, reduces Government approval requirements for state-owned foreign investment, offers a simpler and more open investment process, establishes a new agency to assist with the process, and provides several investment incentives. Under the new Investment Law, any domestic or foreign investor may invest in any industry or sector without any limitation or Government approval, except for any foreign state-owned enterprise (SOE) investing in more than 33 percent of an entity in the minerals, communication or financial sectors, which must obtain approval from the newly established Invest Mongolia Agency. A foreign SOE is defined as an entity of which a foreign sovereign state directly or indirectly owns more than 50 percent.

Nature of measure:
  • Liberalization
  • Facilitation
  • Promotion
Type:
  • Entry and establishment (Ownership and control, Approval and admission - screening)
  • Promotion and facilitation (Investment facilitation , Investment incentives)
Industry:
  • Not industry specific
Inward FDI:
No
Outward FDI:
No
Sources: