The law of the free zone
The purpose of this law is to set out principles pertaining to establishment, reorganization and dissolution of Free Zone, their location, management powers, control systems, and determines the legal basis for taxes, customs, entry/exit clearance, registration of legal entities and individuals, and employment to be adopted at Free Zone and regulates the relations connected therewith.
New law on public – private partnership
The Parliament of Mongolia enacted the Public-Private Partnership Law (“PPP Law”) based on the research of model law on Public-Private Partnership and its handbook replacing the previous Law on Concession (2010) on 9th December, 2022 and coming into effect on 31st December, 2023.
Tax control and appealing its results in Mongolia
The Tax Administration shall conduct tax audits in accordance with both general and special guidelines. These audits will be assigned and carried out in a comprehensive or partial manner, ensuring compliance with international standards and legislation as specified in Article 41.2 of the General Law on Taxation.
Enforcement of foreign judgment and foreign arbitral awards for Mongolia
According to Article 116 of the Law on the Enforcement of Court Judgment, regulations for enforcing judgments of foreign courts, international courts, and arbitration awards in the territory of Mongolia shall be determined under this Law and international treaty in which Mongolia is Party to, and according to article 6.2 of this law, civil judgment enforcement operations shall be conducted on the basis of the decision of foreign courts, international courts or arbitration awards if stipulated in the international agreements of Mongolia.
German-Mongolian Business Association held an official election to appoint the new Board of Directors has taken place on June 8, 2023, and Bolormaa Volodya, Partner of GRATA International Mongolia LLP has been appointed as a member of the Board of Directors of the DMUV.
Alternative dispute resolution methods – arbitration
Arbitration is a consensual mechanism to resolve disputes by one or more private decision makers (arbitrators) selected by the parties pursuant to a mechanism agreed by them in an adjudicatory procedure, and resulting in a final and binding decision /arbitral award/ (Tony Andriotis, Emmanuel Jacomy, and Artis Straupenieks). It is one of the out-of-court alternative dispute resolution procedures in many countries, including Mongolia.
Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium to long-term foreign direct investment (FDI). The Gross Domestic Product (GDP) in Mongolia is worth 10.4 billion US dollars as of September 2021 according to the national statistics of Mongolia.
Bolormaa Volodya, Partner and Director of GRATA International Mongolia office has been received a medal of a Leading lawyer of Legal sector which is a government award and granted on basis of order NoA/50 dated 2023 of Minister of Justice and Home affair.
Medical advertising in Mongolia
Manufacturing, import, export, storage, sale, monitoring, distribution and use of medicine for human and veterinary use, including conventional medicine, bio preparations, diagnostics (hereinafter the “Medicine”), medical devices, and biologically active products are regulated by the Law of Mongolia on Medicines and Medical Devices. The Law also provides a few broad limitations on the advertising of medicines and biologically active products. In addition to this regulation, the Law of Mongolia on Advertisement governs advertising in health sector.