Mongolia signed memorandum of understanding with IFC
The MoU aims to improve investment policies, promote economic diversification, enhance investor protection — thus inspiring investors’ confidence — and further attract and retain private investments.
Mongolia signed a memorandum of understanding with IFC. The MoU aims to improve investment policies, promote economic diversification, enhance investor protection — thus inspiring investors’ confidence — and further attract and retain private investments. Over the next three years, the Government of Mongolia will design a coherent investment policy and launch a Systemic Investor Response Mechanism (SIRM) to deal with investors’ grievances in a systematic manner. It will also promote the country’s agribusiness sector to domestic and foreign investors. IFC will provide policy recommendations and implementation support. “Investing in agribusiness will help diversify Mongolia’s mining-driven economy, thus creating more job opportunities. However, attracting new investments is not enough. We also need practical tools to protect investments, ensuring that the investors stay on in Mongolia and scale up investments,” said Munkhbat Jamiyan, Minister, Chief of the Cabinet Secretariat. “Stable investment policies — including the early mechanism to effectively address investors’ grievances — are crucial for Mongolia to attract and retain private investments, which are both essential for sustainable growth. With the Government of Mongolia’s full support, IFC will continue to help implement global best practices, supporting Mongolia’s long-term development objectives,” said Tuyen D. Nguyen, IFC Resident Representative for Mongolia.
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