By Elena Fehrbach
May 7 – One of the most important laws in Mongolia, a Strategic Foreign Investment Law (SFIL) has been approved by the Government. The amendment is effective from 19 April 2013.
Article 4.7 was amended and now stipulates that the Parliament will be an approval authority for transactions where non- Mongolian State- owned enterprises initiate acquisition of more than 49% of the issued shares of a Mongolian entity. The current amendment no longer includes deals initiated by private investors that since now do not require Parliamentary approval and 100 billion MNT (equivalent to approximately 70 million USD) threshold in its entity. Continue Reading