RE: Law submitted March 27th, 2013
The updated version of "Minerals Law" initiated by the President to present at State Ikh Khural would be coherent to this environment. It appears your Mongolian Business Council was working closely in the debate regarding this draft law. How much was your involvement?
First of all, it is proper to thank to Presidential Office that the draft law is being openly debated for the first-time for judgment and review before it should pass onto State Ikh Khural.
Our legal working group developed 250 pages of analysis and advice based on the key points of draft law which was developed by team members and those from 5-6 Embassies. In the process, we gathered what is necessary comparing above with several developed countries' corresponding investment review laws and regulations and organized open-debate within mining branches cooperating with Mining Association before we handed it over to the Presidential Office