Several provisions of the 17-year-old
Competition Law have  recently been
amended. D.Mandakh, Head of the Department for Fair Competition and Consumer
Rights, has said the new regulations ensuring fair competition will apply to
all the nearly 40,000 registered business entities in the country, of which 160
are considered to be monopolies. The amendments are aimed at restricting these
from deriving unfair trade advantages by exploiting their monopoly status,
especially in matters of pricing. The maximum fine for violation of the law was
MNT250,000, and had long ceased to be a deterrent. This has now been raised to
MNT10 million.