On 22 September 2014, the Chairman of the Parliament of Mongolia ("Parliament") adopted Order #147 which approved those matters which will be discussed  at the autumn session of Parliament.

The Order provides that the following draft laws and resolutions will be discussed in the following  order:

  1. Law on the Ratification of the Agreement on Transparency in Matters Related to International  Trade and Investment between the United States of America and Mongolia;
  2. Resolution on Measures to Ensure the Implementation of the State Policy on Railway  Transportation;
  3. Motion to dismiss a certain cabinet minister from office;
  4. Resolution on the Approval of the State Policy on the Road Transportation Sector; 5.
  5. Law on Fire Safety;
  6. Law on the Budget of Mongolia for 2015;
  7. Law on the Budget for 2015 of the Human Development Fund;
  8. Law on the Budget for 2015 of the Social Insurance Fund;
  9. Resolution on the Approval of Main Directions for State Monetary Policy for 2015;
  10. Law on Trade;
  11. Law on Amendments to the Tax Laws;
  12. Law on the Pledge of Movable Properties and Intangible Assets;
  13. Law on the State Registration of Legal Entities;
  14. Law on Crimes;
  15. Law on Minor Offences;
  16. Law on Combatting Domestic Violence;
  17. Law on the Mongolian Language;
  18. Resolution on the Revision of the State Policy on Education;
  19. Law on Amendments to the Law on Procedures for the Implementing the Law on Prohibition of  Exploration and Mining in Headwater Areas, Protected Zones for Water Reserves and Forest Lands;
  20. Law on Inspections;
  21. Consolidated Law on Elections;
  22. Law on Political Parties and the Law on the Financing of Political Parties; 
  23. Resolution on the Approval of the Long Term Development Policy of Mongolia;
  24. Law on Amendments to the Minerals Law;
  25. Laws and other draft decisions of Parliament that have been under discussion by Parliament;  and
  26. Others.

Other laws and resolutions that are not listed in the above can be included with the approval of  the Council of the Chairman of Parliament.

The autumn session of Parliament will commence on 1 October 2014 and end on 10 February 2015.

Of particular interest to investors are the following potential developments.

Ratification of the US-Mongolia Agreement on Transparency

One of the significant benefits of ratification of the Transparency Agreement is the joint  undertaking to provide opportunities for public comment on proposed laws and regulations and to  publish final laws and regulations in English, which should facilitate the ability of not only U.S. but other foreign enterprises to do business in, and invest in, Mongolia.

Law on the Pledge of Movable Properties and Intangible Assets

Access to finance is one of the major challenges faced by many Mongolian businesses. Current  weaknesses of the Mongolian system include lack of clear legal framework and the absence of a  registration regime for taking security over movable assets such as equipment, machinery and  certain types of intellectual property rights, and over shares or securities in unlisted Mongolian  companies. Reforms in this sector should improve access to finance by enabling lenders to take a  broader range of collateral as security.

Law on the State Registration of Legal Entities

Whilst improvements were made to the process for incorporating companies by foreign investors in  Mongolia by the passage of the Investment Law in October 2013, amendments to the law will introduce  an online registration process for incorporation of legal entities and registration of subsequent  changes in the registered details of a legal entity as well as provision of services by the Legal  Entities Registration Office. The amendment will hopefully make the registration process and other  related services more efficient and increase the level of transparency and openness of the state  register.

Long Name Law (Item 19)

While historically this legislation has been controversial, appropriate and balanced amendments to  the Law on Procedures for the Implementing the so-called Long Name Law would assist to bring  much-needed clarity and opportunity to continue operation to investors in the mining sector (mainly  in the alluvial gold sector) whose exploration investments and activity have in practice been on  hold since the initial passage of the law in 2009.