Research On Legal System Of Mining Investment In Mongolia

Mongolia is located in northeast Asia between Russia to the north and China to the south,east,and west.The geographical position is important.In the last century of after 90 s,Mongolia carried out democratic reforms and is now a country with a democratic parliamentary system.Its overall political situation is stable.Mongolia is sparsely populated and rich in mineral resources,such as Coal,copper,gold and other mineral products with the highest rank in the world.By the end of 2015,the proven reserves of mineral resources in Mongolia have risen to the seventh place in the world,and the room for improvement is still huge.In recent years,Mongolia has relied on mining development and exports of minerals;the rapid development has brought a promising future for economic advancement in this country.Mongolia was one of the first countries to establish diplomatic relations with China.Moreover,The development of mineral resources is the top priority of the economic and trade cooperation between China and Mongolia and one of the core contents of the "China-Mongolia-Russia Economic Corridor".In June 2016,China,Russia and Mongolia signed the third summit of the three heads of state "Outline of the Plan for Building ChinaRussia Economic Corridor".This indicates that a new window period for the cooperation between the two countries in minerals has been opened.The relationship between China and Mongolia has maintained a sound momentum of development to the present day reaching the best level in their history.In August 2014,the president of China,Mr.Xi Jinping,paid a state visit to Mongolia to establish the bilateral relations to a new height of the all-round strategic partnership with the purpose of creation a favorable environment for cooperation in the policy,economy,trade and cultural fields.Chinese Premier Li Keqiang took an official visit to Mongolia and attended the 11 th ASEM Summit.The leaders of the two countries reached broad consensus on deepening pragmatic cooperation in all fields in an all-round way.Since 1990 s,due to the economic restructuring and also in order to attract foreign capital,Mongolia has promulgated the “Foreign Investment Law of Mongolia” and the “Mineral Resources law of Mongolia” involving mining.In order to adapt to the changes in the international economic environment and some domestic conditions,the Mongolian government constantly revised these two laws with the continuous improvement of mininginvestment laws and the expansion of the scope of encouragement policies,a large number of domestic and foreign capital in Mongolia have poured into the fields of mining and greatly promoted the development of the mining industry in Mongolia.Since China's "going global" enterprises have been expanding their investment in Mongolia,the economic and trade cooperation between China and Mongolia has also achieved good results.However,ChinaMongolia mineral resources development cooperation is often blocked due to Mongolia's diplomatic balance strategy,investment,laws and regulations,other changeable policies,highly competitive mining market,increase in development and investment costs,and other factors,Moreover,Mongolia is facing a lack of professional team in geological prospecting,backward technical equipment,low level of geological exploration,backward infrastructure,shortage of hydropower,restricted development of the mineral industry to a large extent,especially in recent period,Mongolia's economic growth is in a state of continued downturn.There are still many shortages in the local investment environment.Therefore,on the basis of collecting and analyzing the domestic and foreign literatures on mining investment in Mongolia,this paper is based on the current mineral resources and the foreign investment in the mining industry in Mongolia and the law relating to mining investment in Mongolia.The mining assets Law and investment law as the starting point,with some cases of mining investment as an example to support the study of Mongolia's accession to the foreign investment in the mining market,the actual operation of mining investment system and exit from the mining market,thus summarizing the mining investment in Mongolia related At the same time,it also proposed some suggestions for further improvement in the relevant laws.We hope that Chinese enterprises that plan to invest in Mongolian-Chinese mining market or Mongolia's mining market will abide by local policies and laws and will provide legal aid according to local laws.The government of the country further perfected mining investment law,attracted excellent foreign investors for development of economy and protected the environment,and achieved some enlightenment on the mutual benefit and win-win between Mongolia and investment countries.The contributions of this paper are as follows:(1)The mining assets law and the investment law should be considered at the same time,and the accession,operation,and exit of the mining market should be considered simultaneously.The new research perspectives and research contents have enriched the research on mining investment in Mongolia(2)The combination of theoretical research and case study research methods,the research results and the final recommendations provide a certain enlightenment for enterprises with Chinese-funded or planned investment in Mongolian mining market.This article ismainly divided into the following five chapters to carry out research and analysis: The first chapter,the introduction part,introduces the research background and significance,research ideas and research methods,and organize the relevant papers at home and abroad.Finally,literatures related to this study are Summarized.Chapter II summarizes the legal system of mining investment as well as the current mineral resources in Mongolia and the foreign investment in mineral resources.This chapter focuses on Mongolia mineral resources law and investment law related to mining investment in Mongolia.Chapter III,IV,and V cover the case analysis of the mining investment access system to exit the system.Chapter VI contains the findings of this article with some suggestion to Mongolia's mining investment access system,operating system and exitsystem.