Mongolian President  Elbegdorj Tsahia  expresses some concerns about the protection of foreign direct investments in the mining sector of Mongolia on a proposal “Mongolia ready for rethink on investment law” to Energy Charter Secretariat. Urban Rusnбk, Secretary-General of Energy Charter Secretariat welcomed  the proposal by the president of Mongolia to engage with the international community and combine efforts to further improve investment legislation in creating a level playing field for domestic and foreign investors.  He says that t is important in this context to emphasise that states have the sovereign right to regulate foreign investment, which should be subject to certain conditions as stipulated by their domestic laws and the states’ obligations under international law. At the same time, it is important to ensure a balance between the public interest and the investors that are willing to participate in the development of the Mongolian economy. This is consistent with international obligations under the Energy Charter Treaty, to which Mongolia has been a contracting party since 1999. The Energy Charter Secretariat stands ready to co-operate with the authorities of Mongolia in promoting an open dialogue related to the investment climate and development of the energy sector that has to support the population, the country’s booming economy and its dynamically developing mining sector.

The article touched upon important aspects related to dangers associated with mineral wealth, which is known as “Dutch disease”. In this context, I consider that it would be important to promote international dialogue and experience-sharing within the ECT constituency, where a number of oil and gas-producing countries have similar challenges.