CoverMongolia NewsWire
Mogi: my apologies, meant to send this breaking development this morning when the decision was made.
Mongolia's Parliament Approves Changes to Foreign Investment Law
April 19 (Bloomberg) Mongolia's parliament approved an amendment to its foreign investment law, easing some restrictions on overseas private companies while maintaining controls on state-owned groups, after a slump in investments.
The changes remove the need for parliament to review investments by non-state owned companies, said Sereeter Javkhlanbaatar, director of foreign investment at the Ministry of Economic Development, by phone from Ulaanbaatar. Deals involving state-owned companies or companies with government equity will still need to be reviewed if the investment is more than 49 percent.
The amendments may help to boost investor confidence following protracted disputes with key Mongolian investors, including Rio Tinto Group. Foreign direct investment in Mongolia declined 17 percent last year and is down 58 percent in the first two months of this year.
"The amendments are welcome but the damage has been done, and many investors' appetites have moved on to more stable jurisdictions," James Liotta a partner at Mahoney Liotta LLC in Ulaanbaatar, said by e-mail. "Those who are locked in are likely to take a much more conservative approach toward investing in Mongolia."
The law applies to companies in the strategic sectors of mining, banking and media, Chimed Saikhanbileg, the government's cabinet secretary, said by phone from Ulaanbaatar. Today's changes only apply to parliamentary reviews for non-state owned foreign companies and don't remove the need for both state and private companies in those sectors to get approval from the government, the prime minister and his cabinet, for investments, he said.
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Cover Mongolia Fundraising Proposals
Dear subscribers,
Here are 3 fundraising ideas I'm launching:
<![if !supportLists]>1) <![endif]>Donation Scheme for Individuals: To pilot the donation scheme starting in the near future. I will set up a PayPal account for anyone residing overseas, and a local bank account for individuals residing in Mongolia.
<![if !supportLists]>a. <![endif]>Starting from May, I would run two different versions of the newswire. One to donors the current version, and a cut version to non-donors. A cut version would mean just the headlines and first few paragraphs with no links.
<![if !supportLists]>b. <![endif]>Donations could be on a quarterly basis
<![if !supportLists]>2) <![endif]>Banner Advertising: Also, I'm proposing an opportunity to advertise on the newswire as well. A top banner as you see above and 6 Middle Banners seen below, positioned between sections 1. Overseas Market 2. Domestic Market 3. Economy 4. Politics 5. Business 6. Diplomacy and 7. Social, Environmental, Others. Pricing proposals could be:
<![if !supportLists]>a. <![endif]>₮50,000 per issue for Top Banner,
<![if !supportLists]>b. <![endif]>₮45,000 per issue for Middle Banner 1,
<![if !supportLists]>c. <![endif]>₮40,000 per issue for Middle Banner 2,
<![if !supportLists]>d. <![endif]>₮35,000 per issue for Middle Banner 3,
<![if !supportLists]>e. <![endif]>₮30,000 per issue for Middle Banner 4,
<![if !supportLists]>f. <![endif]>₮25,000 per issue for Middle Banner 5, and
<![if !supportLists]>g. <![endif]>₮20,000 per issue for Middle Banner 6
<![if !supportLists]>3) <![endif]>Corporate Subscription: Since the newswire is going to be split into a full and a cut version, I thought perhaps this would create an incentive for individuals to convince their companies to pay for the subscription. Pricing scheme could be in the range of ₮100,000-₮500,000 a month depending on company size and relevance of my newswire to their business.
<![if !supportLists]>a. <![endif]>Best way for companies to take it would be: Wouldn't it be much more expensive than ₮500,000 to hire a person to do this type of market research?
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Mogi Munkhdul Badral Bontoi
Cover Mongolia
Email: mogi@covermongolia.mn
Mobile: +976 9999 6779
Skype: mogibb
P Please consider the environment before printing this e-mail.
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