Mongolia's Democratic Party (DP), which failed to win enough seats in last month's elections to govern alone, has agreed to form a coalition with populist fringe parties in a move that could worry foreign investors, local media said.
The broadly free-market DP won 31 of the 76 seats available in the June 28 poll, eight short of an overall majority, causing concern among foreign investors that the party would be forced to make concessions to the growing number of "resource nationalists" in the country's parliament.
The new government, to be led as prime minister by DP chief Norov Altanhuyag, will include minority parties such as the Mongolian People's Revolutionary Party and Mongolian National Democratic Party, which both want to limit foreign investment in the booming mining sector, said local news portal news.mn late on Thursday. The coalition deal was struck earlier in the day. . .View Full Article