“Mongolia had recently approved a full repeal of the Strategic Entity Foreign Investment Legislation (SEFIL), implemented in May 2012 to protect its minerals, rail infrastructure, telecommunications, media and defence sectors.  This resulted in increased political and legal uncertainty and is linked to a 17% drop in foreign direct investment during 2012 and a further 47% during January – August 2013.  The new legislation was enacted on 4 October 2013 with full bipartisan support. Provided an investor is not 50% or more owned by a foreign government, there are no restrictions on investment.  It also includes provisions to ensure that any future changes must have 66% or more votes in favour by Parliament.”

http://www.proactiveinvestors.com.au/companies/news/49946/aspire-mining-poised-to-benefit-mongolia-open-for-business-49946.html

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