Interview with: Bolormaa Volodya, Executive Director, Partner

Bolormaa Volodya, Partner at GRATA International Mongolia, explains how the firm is adapting to clients’ changing needs.

 

What do you see as the main points that differentiate GRATA International from your competitors?

Our competitive advantage lies in our in-depth understanding of the local mentality of doing business enabling us to offer highly practical yet legitimate advice for cross-border projects. We have extensive expertise in assisting and advising foreign investors to start and manage businesses across various sectors, including mining, trading, pharmaceuticals, cosmetics, jewellery, logistics, real estate, telecommunications, project management, education, consumables and petroleum. Moreover, we provide legal guidance on day-to-day business operations, resolves employment issues, advices on taxation matters, obtains government approvals and licenses, advises on various commercial contracts, and successfully negotiates with both public and private local partners.

 

Which practices do you see growing in the next 12 months? What are the drivers behind that?

Over the next decade leading up to 2030, Mongolian government aims to establish investment-friendly environment and foster the development of public-private partnership, contemplating it in the Vision 2050 Policy adopted by the Government of Mongolia in 2020. Following this, a new law on Public-Private Partnership has become effective from December 31, 2023. The new law replaces the previous Law on Concession which lack adequate legal framework for promotion of partnership, underlying principles and understanding of PPP, etc. It is considered that the new law encompasses basic legal framework for implementation of public infrastructure and public service projects by private enterprises under mutually beneficial conditions. It fosters enhanced interconnection between responsible institutes; brings PPP in line with international practices; ensures comprehensible and transparent selection and bidding; secures state backing; and establishes dispute resolution mechanism, etc.

Given the Government’s focus on promoting investment, we anticipate increase in the presence of foreign investment companies either through incorporation or M&A strategies.

Another promising area that could experience growth is employment practices. Following the update of employment legislation of Mongolia in 2021, many new challenges have emerged including but not limited to significant variance in salary – especially in mining industry – as a result of the new procedure for calculation of average salary, escalating to collective agreement disputes. Consequently, employees have begun to recognize the significance of labor unions and collective agreements.

Owing to the factors above, we anticipate potential growth in practices over the next 12 months, including Public-Private Partnership; Corporate and M&A; and Employment.

 

What’s the main change you’ve made in the firm that will benefit clients?

• Technology Integration: We made major updates to the website structure making it easier to navigate and promptly locate essential information.
• Increased Transparency: We are offering more detailed invoices and fee estimates upfront to help clients understand the cost of legal services.
• Alternative Fee Arrangements: To provide more flexibility and cost-effectiveness, we are offering alternative fee arrangements such as fixed fees, contingency fees, and capped fees.
• Access to Legal Resources: We provide clients with access to legal resources and educational materials to empower them with knowledge and information about their legal rights and options.

 

Is technology changing the way you interact with your clients, and the services you can provide them?

Technology has enabled us to enhance our client services through client portals, online appointment scheduling, and virtual legal consultations. For instance, prospective clients from anywhere around the world can easily access our website and social media accounts (e.g. Facebook, LinkedIn, etc.) and promptly send their enquiries. We primarily engage with them by simple exchange of emails. If necessary, clients are able to reach us virtually to discuss their legal enquiries.

 

Can you give us a practical example of how you have helped a client to add value to their business?

Effective risk management is a key to optimal business operation. Legal risks among other factors could carry substantial weight depending on the nature of each business. Thus, we firmly believe that every project or initiative we undertake contributes value to our clients’ operation. To highlight some examples without potentially neglecting the value brought by other cases, we engaged in collective bargaining with a client’s trade union, successfully averting a potential strike through our advisory on a collective agreement, which we meticulously drafted from the ground up. Additionally, we provided counsel on reinstating business operations amidst a scenario where the company was undergoing liquidation proceedings.  As client requested, we have assisted them to do negotiation on capping liabilities under the agreement which is restricted potential unseen liabilities to them. Through advising taxation consequences within framework of existing double taxation avoidance treaties between the country and Mongolia, the client has incorporated its local subsidiary in Mongolia that leads prevention of notable  taxation payment.

 

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

As a number of confidential matters are exchanged, clients prefer long term cooperation with their law firm. We see ourselves still playing in the legal market in the next 3 years. We are planning to expand our team and practice area such as securities law, litigation, etc. Data protection is crucial for law firms especially when it comes to reliability and confidentiality. We constantly enhance our data security system to prevent any data disclosure which will also be in our agenda over the next 3 years. We will implement diversity and inclusion initiatives such recruiting a more diverse workforce to create a more inclusive work environment and better serve clients from diverse backgrounds.