other
IMPACT OF THE FATF GREY LISTING ON FDI INTO MONGOLIA
November 18, 2019
In October 2019, the Financial Action Task Force (“FATF”) included Mongolia into its watchlist (the so called “Grey List”). From the outset, this could increase the concerns of investors around economic stability, smooth international transactions, and free flows of currency. If the Grey List status lasts for a significant length of time, this could develop into more serious problems, but we believe this status should be corrected within a short-term period and do not expect that it will have a material medium or long-term impact on FDI. Some of the potential short-term risks and the main points underpinning this are set out below.
Chris Melville and Erdenedalai Odkhuu
OVERVIEW OF THE MONGOLIAN LEGAL SYSTEM AND LAWS
November 18, 2019
Since the establishment of the Mongol Empire in 1206, the development of the Mongolian legal system can be divided into four main historical stages: Mongol Empire Period this is the period of the formation of the roots of Mongolian legal system. Chinggis Khan's Ikh Zasag Law, commonly known as Yassa, written sometime between 1206 and 1218, was for the most part a codification of the general principles of law already held by the tribes under his command.
UPDATE: OVERVIEW OF THE MONGOLIAN LEGAL SYSTEM AND LAWS
November 18, 2019
In cooperation with New York University, M&E’s article “Overview of the Mongolian Legal System and Laws” has been published at the website GlobaLex, an electronic legal publication dedicated to international and foreign law research. Please see the link below:
Erdenedalai Odkhuu
PRIVATE INVESTMENT FUNDS IN MONGOLIA
November 18, 2019
As of spring 2017, Mongolia needs foreign and domestic investments more than ever. This is because Mongolia is on the verge of a severe economic crisis. Since 2012, Mongolian economic growth has decreased from 17.8% to 0.8%. The main causes of this economic crisis were fiscal indiscipline, weak rule of law, unnecessary and wrong political promises to gain or retain political powers. Furthermore, outside factors, such as falling commodity prices and China’s economic slowdown, accelerated the impact.
