Investors issued advisory document

Oct 9 • Business, Government • 390 Views • No Comments on Investors issued advisory document

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Investors forum, jointly organized by the Ministry of Foreign Affairs and Trade and FIFTA, has summoned. Senior officials from foreign invested companies exchanged their point of views and experiences during this two-day meeting. As of today, over 7700 foreign invested business entities are registered in Mongolia, with total investment of $3 billion in last 10 years. $700 million of it has been made in this year only. Regardless of world economy recession and badly affecting global financial crisis, not many foreign invested companies are closing their door in Mongolia or retreating from Mongolia.

As for today, Mongolia has made General Agreement on Trade and Economy with 24 countries, Agreement of Mutually Promoting and Protecting Investment with 42 countries and Agreement on Repealing Double Taxation with 33 countries.

Over 200 investors made advisory document addressing to the State Great Khural and Government of Mongolia. The document includes the following issues; to assure open, transparent, smooth, fair and ethical formality in the mining, infrastructure, banking and financial sectors, to strengthen mutual understanding and trust between public and private sectors, to allow investors and business community in bringing their comments and findings in the state policy changes and to enable investors to get introduced with the purpose and arrangements of new laws and regulations.

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