Ministry of Foreign Affairs establishes Investment Research Center for economic corridor
The Ministry of Foreign Affairs announced that it had established the Investment Research Center as part of the implementation of projects within the framework of the economic corridor between Mongolia, China, and Russia.
The second trilateral meeting between President Ts.Elbegdorj, Russian President Vladimir Putin and Chinese President Xi Jinping saw the Mongolian side propose to establish a research center in Ulaanbaatar to implement feasibility studies and investment opportunities for the three countries to launch joint projects in infrastructure and investment.
A trilateral meeting on August 29, 2017 in Moscow saw three sides agree to the establishment of the center in Ulaanbaatar.
As a part of this, Cabinet decreed the establishment of the center to operate as a subdivision of the Ministry of Foreign Affairs on September 13 in order to ensure the implementation of the projects as part of the economic corridor.
The research center will work on the preparation of the 32 projects to be implemented as part of the economic corridor. The center’s activities will include drafting feasibility studies and conduct research into the rules and procedures of the project between the three countries. Russian and Chinese counterpart centers will be working together with the center in Mongolia to advance the projects.
The establishment of the research center sets the foundation for a joint research center of the three countries to further the economic corridor.