Legal Alert: Law on Cyber security
On June 30, 2021, the Government of Mongolia submitted a draft Law on Cyber security and supplementary draft laws to the State Great Khural(or the Parliament). On December 17, 2021 at the plenary session, the State Great Khural approved the draft Law on Cyber security. The law has adopted the first time in Mongolia and has been discussed and developed 7 times over the past decade.
22.04.2022
On April 16, 2022, Department of Private Law of the Law school of National University of Mongolia held a Student Research Conference on “International Business Transactions: Governing Law, and Dispute Settlement Issues” dedicated to the 80th Anniversary of the University.
Legal alert: New Law on protection of personal data in Mongolia
The Parliament of Mongolia (State Great Khural) passed a new Law on Protection of Personal Data on December 17, 2021. The law will become effective from May 1, 2022. The Law on Personal Secrets which was adopted in 1995 provides very general provisions that individuals were to determine and protect their secrets themselves. Compared to this law, the new law is featured that it provides more comprehensive regulation on the Protection of Personal data.
"Procedure for determining the average salary" and "for granting annual leave and calculating annual leave pay"
Based on the Article 24.2 of the Law on Government of Mongolia and article 103.1.1 of the Labor Law (revised version), the “Procedure for determining the average salary” was approved and entered into legal force on January 1, 2022.
GRATA International Mongolia held a webinar on Doing Business
On March 4, 2022, the Mongolian office held a webinar on Doing Business online.
The speakers were: Bolormaa Volodya, Partner; Buyanjargal Tungalag and Solongo Gansukh, Associates.
The speakers were: Bolormaa Volodya, Partner; Buyanjargal Tungalag and Solongo Gansukh, Associates.
Draft law on Licensing
A working group has been established by Resolution No.38 by the Chairman of the State Great Khural (the Parliament) dated 2021 with responsibilities of preparing the draft law on Licensing which was submitted by the Government, approving the license list and other draft laws submitted together with it for discussion at the plenary session, and drafting proposals.
21.02.2022
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. The GDP value of Mongolia represents 0.01 percent of the world economy.
GRATA International’s Mongolian office in Legal 500 Asia-Pacific 2022 rankings
The Legal 500, which is widely acknowledged as the world’s largest legal referral guide, has recently released their Asia-Pacific rankings. GRATA’s office in Ulaanbaatar was ranked in Tier 3 and identified among the leading law firms and experts in the country.
30.12.2021
The Law on Workforce migration was adopted to determine the relationship, management and organization of workforce migration from Mongolia to foreign country and from foreign country to Mongolia on basis of national labor market data, in a unified and comprehensive manner in order to protect human rights and legitimate interests. The implementation of labor migration policies and regulations will have positive social and economic consequences, including increased employment, sustainable population growth, family stability and more specialized and skilled human resources.
Amendments to the law of Mongolia on investment
On the plenary session of the State Great Khural (the Parliament) dated October 7, 2021, the draft law on amending the Investment Law submitted by MP Kh.Gankhuyag was discussed and 51.9 percent of the members who participated at the plenary session voted in favor and transferred to the Standing Committee on Economic Affairs to prepare for the first discussion.
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Ulaanbaatar, Mongolia