Government pledges continued protection for investors’ interest
More than half of foreign investors in Mongolia are said to have left in the past 4 years.
Government pledges continued protection for investors’ interest. More than half of foreign investors in Mongolia are said to have left in the past 4 years. While on the one hand, the reason behind this is the current economic difficulties, on the other hand, inconsistent policy and government's withdrawal from contracts are what caused investors to lose their trust, noted the recently held first meeting of a Council to protect the interests of investors. The council was established under the ordinance of Mongolian Prime Minister aimed at urgent settlement of complaints and petitions regarding the interests and rights of investors and bureaucratic and illegal activities, as well as prevention and potential risks. The Council at its first meeting emphasized the importance of resolving any complaints and petitions made by investors before they are filed to court or arbitration. The government is working to protect the interests and rights of investors. It is indispensable for us to gain the trusts of investors and attract more investment in order to overcome the economic recession with the help of mutual understanding and creation of more favorable legal environment, noted Council’s Chair J.Munkhbat at the meeting.
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