People who own land in Ulaanbaatar can extend their license by up to 15 years from now on, under a new capital city directive. Originally, land owners were allowed to extend licenses by five years at most. During a press conference about the extension, city officials announced that the change ensures the long-term stability of companies operating on the land and keeps them free from state bureaucracy and control. “This decision is aimed to provide prompt state services without bureaucracy to the public. Land is a valuable capital used to attract investment. While the economy is facing difficulties, we must support companies and individuals constructing apartments, factories and offices. I’m confident that this was an accurate decision for eliminating bureaucracy and corruption among land management department,” Ulaanbaatar Mayor S.Batbold stated. He added that online land ownership issuance will be resumed after resolving some issues, and that authorities will establish a land exchange system for land ownersLicense holders can renew their license and have it extended by 15 years through an application, which doesn’t require any additional or special condition.