The concession law, approved by Parliament last month, will come into effect on March 1. MP Ts.Munkh-Orgil (MPRP), a member of the working group to draft the law, MPs S.Byambatsogt (MPRP) and D.Odkhuu (DP), and G.Bailishuu, adviser in the Government Property Bureau, told journalists yesterday that this would open up state and regional property for better investment opportunities without being privatized. That would reduce the Government burden of spending on infrastructure, releasing money to develop infrastructure and provide improved social services to citizens.

The law will cover state and regional property as well as property of government organizations, and assets of state owned industrial entities. Investors will be able to select property where they wished to get the concession.

The law allows seven types of concession, such as construct-transfer, construct-use-transfer and construct-own-use.

The Government will soon publish a list of pieces of state property that is to be offered on concession. Provincial governors will have the right of selection in their regions.