Ulaanbaatar
Cabinet to Submit a Draft Law to Change the Development Bank of Mongolia to the Export-Import Bank of Mongolia
Politics
Ulaanbaatar, April 23, 2025 /MONTSAME/. During the regular session of the Cabinet of Mongolia on April 23, 2025, Chief of the Cabinet Secretariat Uchral Nyam-Osor presented a draft Law on the Development Bank of Mongolia to Members of the Cabinet.
The draft Law includes the introduction of provisions for changing the Development Bank of Mongolia to the Export-Import Bank of Mongolia. The final version of the draft Law will be presented again at next week’s regular session of the Cabinet and subsequently submitted to the State Great Khural (Parliament) of Mongolia.
A Working Group, headed by the Minister of Justice and Internal Affairs, was established to oversee the implementation of intergovernmental agreements adopted by the State Great Khural, and in doing so, protect the interests of foreign investors and facilitate a sustainable investment environment. The Chief of the Cabinet Secretariat underlined that the Working Group is formulating draft Amendments to the Tax Law, the Investment Law, and the Law on Legislation of Mongolia.
During the regular session, the draft Law on Amendments to the Law on Mining Products Exchange, which was submitted to the State Great Khural by the Cabinet on March 28, 2025, was decided to be withdrawn due to the decision made at the regular session of Party Groups of the State Great Khural on April 21, 2025.
Additionally, a Working Group, headed by the Chief of the
Cabinet Secretariat, was established to ensure the implementation of the Law on
Sovereign Wealth Fund of Mongolia.
