Amended Foreign Investment Law is passed

The amendment encourages foreign investment and protects the rights and property of foreign investors in Mongolia[1], removing restrictions on profit transfers, exemption from customs duties and sales tax and provision of tax holidays. Later amendments  (2001, 2002) removed export taxes, and included more investment stability and tax exemption for 10-15 years. This was followed by similar laws in the next three years. 1994: Securities Law; 1995: Introduction of the Stock market, and in 1996 the Banking Law.

[1], retrieved 7 September 2018