On April 19, the Mongolian parliament passed amendments to the government’s controversial strategic sectors foreign investment law, which was introduced a year ago to block strategic assets falling into foreign hands.
The amendments’ passage is an important step because the law, in its original form, was seen as a backlash against foreign ownership of Mongolian companies that accomplished nothing but to scare off foreign investors.
Mongolia is not unique in having such a law, but it needs large amounts of foreign investment to spur its growth and development.
Foreign direct investment fell 17% year on year to $3.9
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