The Cabinet of Mongolia held its regular session on April 23, 2025, to discuss several legislative proposals. Chief of the Cabinet Secretariat Uchral Nyam-Osor introduced a draft Law on Development Bank to Cabinet members. This proposal suggests changing the Development Bank of Mongolia into the Export-Import Bank of Mongolia.
Cabinet members actively reviewed the contents of the draft Law on Development Bank during the meeting. They requested revisions before resubmission. The final version of the draft Law on Development Bank will be presented at the next regular Cabinet session. After approval, officials will submit it to the State Great Khural, Mongolia’s Parliament.
To support this process, the Cabinet established a Working Group led by the Minister of Justice and Internal Affairs. This group will focus on enforcing intergovernmental agreements and protecting foreign investors’ interests. The group also aims to create a stable and sustainable investment environment in Mongolia.
Meanwhile, the Chief of the Cabinet Secretariat shared that the Working Group is preparing draft amendments to three major laws. These include the Tax Law, the Investment Law, and the Law on Legislation of Mongolia. Officials believe these changes will improve Mongolia’s legal and economic landscape.
During the same session, Cabinet members also addressed a different legislative matter. They decided to withdraw the draft Law on Amendments to the Law on Mining Products Exchange. The Cabinet had submitted this draft on March 28, 2025. However, Party Groups of the State Great Khural reached a decision to reject it on April 21, 2025.
Additionally, the Cabinet created another Working Group. This new group, led by the Chief of the Cabinet Secretariat, will oversee the Law on Sovereign Wealth Fund of Mongolia. Its main role involves ensuring full and proper implementation of this law.
Leaders emphasized the significance of these developments for Mongolia’s future economic direction. They view the draft Law on Development Bank as essential to enhancing financial institutions and promoting international trade.
As Mongolia moves forward, Cabinet members remain focused on modernizing the legal framework. Their efforts include boosting investor confidence and fostering long-term economic growth.
