Mongolia has undergone drastic political, economic and social changes since its simultaneous adoption of both market economy and liberal democracy in 1990. An unprecedented number of new laws and regulations, including those regulating business and commerce, have been, and are still being adopted, by the Mongolian legislature and other agencies. Speed of such changes has been breakneck – Mongolia currently has about 1000 statutory laws in effect and counting, many related to private sector and doing business.
With such high-speed reform, the Government and its donor partners have oftentimes outsourced development of new laws and regulations to private sector, including legal professionals and legal firms. Areas of specific outsourcing include drafting legislation in specific business and regulatory areas, evaluation of implementation or impact of specific laws, research of legal policies and options in fields ranging from human rights to doing business to banking regulations.
KhanLex Partners have over combined 10 years of work experience in the government agencies of Mongolia. For examples, one of our partners, Enkhbat Batsukh, is a former government lawyer – specifically as a desk officer in the Business Law Section of the Ministry of Justice of Mongolia. His responsibilities at the Ministry of Justice included drafting the Civil Code of Mongolia, Foreign Investment Code of Mongolia and Bankruptcy Code of Mongolia, all successfully passed by the parliament later on.
The KhanLex lawyers have contributed to various legislative-related assignments ranging from comparative legal analysis to drafting laws and regulations to consultancy reports on legal topics for clients such as the Government of Mongolia or foreign donor programs. Specific highlights of these assignments include advice for the Government of Mongolia (via a Millennium Challenge Corporation’s project in Mongolia) in respect of drafting legislation on registration of property rights, advice for the Financial Regulatory Commission of Mongolia (via a Government of Luxembourg’s capacity building program) in respect of drafting the Securities Custodian Regulation of Mongolia, advice for the Credit Guarantee Fund of Mongolia (via a TA project of Asian Development Bank) in respect of draft laws and regulations applicable to the Credit Guarantee Fund of Mongolia, or advice for the Central Bank of Mongolia (via a consultancy project of European Bank of Reconstruction and Development) in respect of reviewing and reporting on Mongolian legislation with the aim of identifying gaps and necessary amendments for the successful resolution of non-performing loans.
Our Legislative Policy practice is headed by Enkhbat Batsukh.