Draft law on Casino to be submitted to Parliament

Ulaanbaatar /MONTSAME/ The Cabinet on its meeting of February 2 resolved to submit the draft law on Casino to the Parliament. If adopted, the law will regulate the creation of casinos in Mongolia according to the global standards, permitting their operations with certain extent of state monitoring and will define the system and means of state monitoring over casinos. The law initiators said that the draft was developed in light of realizing the tourism sector goal to produce up to 14 percent of the GDP by 2020. Casino businesses will intensify the development of the tourism sector and promote the currency flows’ stability, they considered. According to the statistics, Mongolia ranks at 99th among 140 countries of the world with its competitiveness of tourism, and at 19th among 25 countries of Asia-Pacific region. Mongolia received over 417 thousand tourists in 2013, and the sector accumulated revenue of USD 263 million, which made up 5.29 percent of the total GDP of the year.