CABINET SECRETARIAT MEETS CHINESE INVESTORS TO DISCUSS INVESTMENT ENVIRONMENT
On Monday, Cabinet Secretariat J.Munkhbat met with representatives of Chinese entrepreneurs doing business in Mongolia to discuss the government’s investment policy and challenges facing Chinese businessmen.
During the meeting, as the head of the Investors’ Protection Council of the government, J.Munkhbat introduced the Chinese representatives to the council’s operations, and efforts to protect foreign investor rights and address challenges facing them.
He noted that the government is taking some measures to enhance the legal and regulatory environment for foreign investors and entrepreneurs in Mongolia, and will keep making other initiatives to promote foreign investment.
J.Munkhbat added that the government of Mongolia is working to strengthen bilateral economic cooperation by improving cohesion between the major development strategies of the two countries, such as China’s Belt and Road Initiative and Mongolia’s Development Road Project.
Chinese businessmen noted that several sections of some laws are in conflict with each other. Specifically, they claim that the legal and regulatory environment and government policies are arbitrarily changed; state authorities receiving complaints from foreign investors regarding regulations always make slow decisions; and Chinese businesses always face challenges in obtaining employment visa.
The Cabinet Secretariat emphasized that the Investors’ Protection Council is set to cooperate with foreign diplomatic mission offices in Ulaanbaatar to listen to foreign investors’ opinions to improve Mongolia’s investment environment and to deal with challenges facing them by receiving complaints from them.