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Business / Featured News / Mongolia News / Politics / February 10, 2015

Draft law on privatization of state properties submitted for approval

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Member of Parliament and Head of the Cabinet Secretariat S.Bayartsogt has submitted a draft law on the privatization of state properties in 2015 and 2016 to the Speaker of Parliament, Z.Enkhbold.

To attract foreign and private investments to energy and the telecommunications sectors and reduce the participation of the state, it has been decided that additional shares of state energy and telecommunications companies will be issued and sold to the ┬ápublic. The move is in pursuit of policy to attract private investments to these sectors and to make structural changes meeting the market’s requirements.

As indicated in Article 8.1.15 of Section 8 in the Law on Ownership of State and Local Properties, “the Parliament of Mongolia, within its full power and authority, shall approve main directions for the privatization of state properties and make amendments to the regulations concerning the privatization of state properties.”

SOURCE: News.mn




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