Mongolia considers protecting investors’ rights
Legal protection of investors’ rights is one of the priorities of the Government and a special council in charge of protecting investors’ rights is established.
Mongolia considers protecting investors’ rights. Legal protection of investors’ rights is one of the priorities of the Government and a special council in charge of protecting investors’ rights is established, said Mr. Munkhbat, Head of the Cabinet Secretariat at a meeting with World Bank representatives, headed by Mr. Jason Allford, the Executive Director of the World Bank Group. Mr. Jason Allford noted that it would be a good example to other countries that the Government of Mongolia has established a certain structure for the protection of investors’ rights at a policy level. Furthermore, he noted that restriction of the investors’ transaction, making it to pass only through Mongolian banks has much negative impact on the economy and asked whether parliament is reconsidering its decision concerning the matter and if parliament makes its decision certain, IMF and WB are prepared to conclude their decision within a short period. Mongolia’s Minister J. Munkhbat made it clear that the majority group in parliament has made its political decision to reconsider and change the parliamentary resolution, which regulates income from some big projects to pass through Mongolian banks. The parliament will finalize the issue by the end of this week.
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