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Mongolia Growth Group Ltd. Publishes September 2013 Monthly Letter to Shareholders
Mongolia Growth Group Ltd. Publishes September 2013 Monthly Letter to Shareholders Ulaanbaat...
About this update from Mongolia Growth Group Ltd.
[{"type":"text","content":"Mongolia Growth Group Ltd. Publishes September 2013 Monthly Letter to ShareholdersMongolia Growth Group Ltd. Publishes September 2013 Monthly Letter to Shareholders\nUlaanbaatar, MONGOLIA, October 17, 2013 /FSC/ - Mongolia Growth Group Ltd. (YAK - TSX Venture),  is pleased to announce the release of its September 2013 letter to shareholders.\nSeptember 2013 Shareholder Letter\nTo the Shareholders of Mongolia Growth Group Ltd.,\nI'd like to start off by pointing out that this is the September letter to shareholders-there wasn't an August letter. \nThe big news over the past few weeks has been the extraordinary session of parliament which has led to the recent passing of the Foreign Investment Law which repeals the Strategic Entities Foreign Investment Law (SEFIL) which was passed in May 2012. SEFIL was a hindrance to foreign investment-now that it has been repealed we expect to see a number of substantial projects move forward that had previously been on hold. The repeal of SEFIL after a little more than a year shows that Mongolia is capable of recognizing a mistake and rapidly adjusting in order to continue attracting foreign capital. The new Foreign Investment Law has many provisions that make the law even more advantageous to foreign firms than the pre SEFIL law and shows Mongolia's continued commitment to being a preferred destination for foreign investment. \nOver the past year there has been a lot written about the macroeconomic climate in Mongolia-much of it uninformed. I felt that as an investor who is actively involved in Mongolia, I should also weigh in on the topic and I recently wrote an article for Marc Faber's Gloom Boom & Doom Report in regards to the macro climate in Mongolia and why I see it improving in the near future-this was before SEFIL passed-We have added a link to the article on our site under the Mongolia in the News section, for your enjoyment. \nSincerely,\nHarris Kupperman\nChairman & CEO\nMongolia Growth Group Ltd.\nFor further details on the foregoing document, please refer to the Corporation's filing on SEDAR.\nFor more information on Mongolia Growth Group Ltd., please see our website: www.MongoliaGrowthGroup.com\nOr contact:\nGenevieve Walkden [email protected]\nForward-looking Information Cautionary Statement\nInformation and statements contained in this Letter to...