BCM with the assistance of BCM's Legislative Committee collaborated with the North America Mongolia Business Council (NAMBC) with respect to the proposed Foreign Investment Law (FIL) amendments submitted to the Parliament in late 2007. Our joint letter was submitted to each of the 76 members of Parliament. In addition it was sent to the Ministers of Industry and Trade, Foreign Affairs, Finance and Justice as well as advisors to the Prime Minister and the President. Our comments focused on the fact that the amendments seek to cure problems related to immigration through the FIL. We pointed out that the proposed amendments will act to discourage, not encourage, new direct foreign investment, especially by small-and-medium sized foreign businesses. We also suggested foreign investors in a variety of sectors are concerned about the future business climate in Mongolia. These proposed amendments send the wrong message to potential foreign investors. We believe the Government of Mongolia should continue developing ways to encourage foreign investment.


BCM-NAMBC Comments Proposed FIL Amendments.pdf