In May, Mongolia’s parliament passed a law that caps foreign ownership in strategic industries, including all-important mining. From now on, foreign investors will be allowed to own a maximum of 49% of companies in mining, finance, media and telecommunications, after which they will be subject to scrutiny by a government panel.
New restrictive legislation was not at the top of anybody’s wish list but the prevailing opinion among foreign investors has been that it could have been worse.
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