Ulaanbaatar
Draft Law on State-Owned Enterprises and Locally Owned Companies to Be Finalized
Politics
Ulaanbaatar, November 13, 2024 /MONTSAME/. At the regular session of the Cabinet of Mongolia on November 13, 2024, Minister of Mongolia and Head of the Cabinet Secretariat Uchral Nyam-Osor presented the current situation and challenges facing state-owned enterprises and measures to be implemented to improve their performance. Minister Uchral was tasked with finalizing the draft Law on State-Owned Enterprises and Locally Owned Companies and submitting it for discussion at the Cabinet meeting.
By Resolution No. 44 of 2024 of the Prime Minister of Mongolia, a Working Group has been established under the leadership of Minister Uchral to develop a draft amendment to the Law on State and Local Property, as well as a draft of the initial Law on State-Owned Enterprises and Locally Owned Companies.
The Working Group is currently working on regulations related to the activities of state-owned enterprises. Specifically, the Working Group is focused on improving financial discipline, strengthening control and accountability, ensuring transparency and openness, developing corporate governance, clarifying the basis and criteria for establishing state-owned enterprises, and reflecting regulations to address the challenges to the Law under policies aimed at expanding the space for private sector business activities.
