CHAPTER THREE: OPERATION OF BUSINESS ENTITIES WITH FOREIGN INVESTMENT

Article 13. Powers of the Central Administrative Organization in charge of foreign investment issues

1.The Central Administrative Organization in charge of foreign jnvestment issues shall have the following powers:

1) To develop a comprehensive state policy with respect to the promotion of foreign investment in Mongolia,  and to implement the policy following its approval,

2) To submit  proposals with respect to Mongolia's accession to existing multilateral investment agreements and to monitor the implementation of  bilateral investment treaties and multilateral investment agreements to which Mongolia is a signatory,

3) To conduct research  on the  investment climate in Mongolia, to provide investors with information, materials and legislation  affecting investment,s and to provide consultancy services to investors,

4)  To render to foreign investors various types of assistance with respect to their dealings with Mongolian state agencies and organisations as well as in establishing  business relationhips with Mongolian business entities and citizens,

5) To organise promotional activities aimed at attracting foreign investors to Mongolia,

6) To approve the establishment and dissolution of  business entities with foreign investment,

7) To invite foreign investors to participate in tenders with respect to projects to be implemented through local and foreign investment,

8) To register representative offices of foreign companies. The registration regulations of foreign representatives offices shall be approved by the government,

9) To register investments that will be made in the forms set forth in Paragraphs 5 of Article 6.1 of this Law and, at the request of investors, to protect their interests and to provide various other services for their benefit,

10) To prepare and analyze reports and statistics with respect to foreign investment,

11) To monitor  implementation of the foreign investment Law,

12) To suspend and terminate the operations of business entities with foreign investment.

2.  In providing the services  for investors set forth in Paragraph 1.3 of this article of the present law, the Central Administrative Organization in charge of foreign investment issues may establish a self-financing entity as its unit.