The Ministry of Mining announced that Parliament is to make changes to the Law on the Regulation of Foreign Investment in business entities operating in sectors of strategic importance (Strategic Investment Law) that was passed last May.
Under the Strategic Investment Law it requires the Government give approval for more than 100 billion MNT foreign investment in sectors of strategic importance.
The Ministry of Mining is to present an offer to have the 100 billion MNT increased by 3 or 4 times according to the Minister of Mining D.Gankhuyag.
The Minister says that the 100 billion MNT investments to be approved by Government are too small. There might be some changes to the Strategic Investment Law approval process in 45 days.
The Ministry of Mining is drafting the rules of the new amendment to the Strategic Investment Law.