Mongolia-Japan government and private business consultative meeting II is to be held in UB in the upcoming month. The first consultative meeting was held on last November in Tokyo. Initiated and organized by the Ministry of Industry and Commerce, this business consultative meeting aims to bridge businessmen and increase trade turnover of two countries. With reference to the upcoming II consultative meeting, representatives of Mongolian Private Sector held a meeting with the MIC and its Agency for Foreign Investment today, discussing and consulting on how to attend the consultative meeting and how to achieve the desired results in the MIC. Private sector representatives highlighted the roles of the two institutions on identifying ways of integrating business interests.
Government representatives suggested private sector to be initiative and reminded it would not be easy to attract Japanese investment unless the projects are good enough. During the meeting, the parties agreed that collaboration with Japanese small and medium enterprises would be effective since we have a small market. FYI, there are 8 Japanese private companies in the mining sector, holding 66 exploration licenses.