Mongolia aims to become more favorable country for investors
J.Munkhbat, Head of the Cabinet Secretariat for Government and head of the Investor Protection Council (IPC) addressed the August meeting of the American Chamber of Commerce in Mongolia.
Mongolia aims to become more favorable country for investors. J.Munkhbat, Head of the Cabinet Secretariat for Government and head of the Investor Protection Council (IPC) addressed the August meeting of the American Chamber of Commerce in Mongolia. The Mongolian economy which saw a downturn last year started increasing to 5.3%, and the budgetary income steadily growing up since 2017. Confidence of foreign investors in Mongolia is reviving, brining some profit to companies. Mongolia satisfied the IMF conditions, so the sustainable development policy and goals must be ensured. At the meeting, investors touched upon issues of instability of the Mongolian government, regular changes of laws, which leading dubious condition, and complained about bureaucracy of state servants. They also clarified some planned actions for backing investors through the tax policy, focusing attention to infrastructure of big projects and programs and attracting new investment. In addition, a draft law will be submitted to parliament soon on abolishment of contravention and duplication in laws. Head of the Cabinet Secretariat is expected to meet investors and businessmen of Australia and the UK in near future to hear their opinions and ideas.
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