MNCCI organized an online discussion on the revised draft of the Foreign Investment Law

Within the framework of reforming the legal environment for investment, the Mongolian National Chamber of Commerce and Industry (MNCCI) organized an online discussion on the revised draft of the Foreign Investment Law.

The Foreign Investment Law was last amended in 2006 and since then the legal environment has remained in place.

The participants agreed that the most important thing is the implementation of the law, and it is necessary to evaluate the shortcomings in the implementation of the current law and it was considered appropriate to make changes.

In particular, conflicts arise, due to the inconsistency of the Investment Law with other laws.

For example, it was highlighted that it must be in line with the Tax Law. Also, the Foreign Investment Law need to be brought into line with international standards.

Comments on the draft law can be submitted in writing to the MNCCI.