The Ministry of Foreign Affairs of Mongolia organized for foreign
diplomats brief introduction of Law on Regulation investment by foreign
state-owned firms in strategic assets yesterday, on May 22.

G.Zandanshatar, minister of
Foreign Affairs of Mongolia explained purpose of law. The officials from FIFTA
answered a question. By the law Mongolia defined a three strategic sectors-
mining, banking, media and communication. Foreign companies who investing more
than 49 percent in mentioned sectors should ask the government’s approval. But
this only for foreign private companies. “If state owned companies invest even
1 percent have to ask the government’s approval” explained officials.

Our reporter interviewed some people
on the new law.

R.Bud, MP (MPP): “While encouraging
economic growth we also have consider reliable proportion of foreign
investment. This law is not new. Some countries have a similar law. National
security is most important”

Ch.Khashchuluun, Head of National
Development and Reform Committee: “By the previous law foreign companies applied
to FIFTA. Now FIFTA will receive relevant documents than will check and if it
against the law can give back. I’ll say the new law encouraging foreign
investment to the Mongolian economy”.