As stated on the project disclosure page, the IFC will provide support to the Ministry of Economy and Development (MoED) and other key stakeholders to improve Mongolia’s investment climate via amending Investment law, strengthening investment protection and resolving investors grievances by implementing the Systemic Investor Response Mechanism (SIRM). The SIRM is supported by online tracking tool that collects grievances through a special application form, and distributes the cases to the relevant authorities based on specific criteria and analysis. The authorities have to respond to the MoED and the investors within times specified by the SIRM bylaw. Operation of such system would allow timely response to investors grievances and resolve conflict before its escalation to an international arbitration which would save the country's reputation as well as prevent additional costs linked with arbitrations. The project will do capacity building of the relevant government authorities including local agencies in respect to screening their policies and regulatory requirements against potential breach of core investment guarantees, and provide advice in resolution of grievances based on international and national laws.
No project contacts available at the time of disclosure.
Implementing Agency - Ministry of Economy and Development:
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