B.Batjargal: South Gobi Sands requires a permission of government
The Mongolian Parliament last week approved a law on Regulation investment by foreign state-owned firms in strategic assets.
By the new law regulation if South Gobi Sands will sale license of Ovoottolgoi to Chalco, state owned company, is required Government’s permission said B.Batjargal, head of Budget Department of Finance Ministry. “In case of violation the law the government has a right to cancel license. This is issue not only for SouthGobi Sands. This is requirement for all foreign investors” he added.
By the new law regulation if South Gobi Sands will sale license of Ovoottolgoi to Chalco, state owned company, is required Government’s permission said B.Batjargal, head of Budget Department of Finance Ministry. “In case of violation the law the government has a right to cancel license. This is issue not only for SouthGobi Sands. This is requirement for all foreign investors” he added.
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