Ulaanbaatar
MNCCI organizes online discussion on revised draft of Foreign Investment Law
Economy
Ulaanbaatar /MONTSAME/ 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.
Source:
MNCCI
