NAMBC delegation meets President Elbegdorj and other officials to discuss economic cooperation

Representatives from the Ministry of Foreign Affairs meeting with the NAMBC delegation

President of the North America-Mongolian Business Council (NAMBC) Steve Saunders and his accompanying delegation were received by President Ts.Elbegdorj and other government officials to discuss how to expand their relations and cooperation, and the directions and tendencies of future cooperation.

The main purpose of the NAMBC is to boost investment and economic cooperation between the U.S., Canada, and Mongolia. NAMBC was the first business organization established to build a bridge between Mongolia and the North American region, and has helped to increase Mongolian international trade and develop investment.

The NAMBC delegation met with State Secretary of the Ministry of Foreign Affairs D.Davaasuren to discuss economic cooperation. D.Davaasuren introduced the Government of Mongolia’s plan to restore its credibility with foreign investors and entrepreneurs, and to encourage them to pursue their interests in Mongolia. He stated that creating a suitable legal and regulatory environment for foreign investors and entrepreneurs in Mongolia is important. The NAMBC delegation said they hope that Mongolian investment will increase and that they will continue to collaborate with Mongolia.

The delegation also met with Chairman of the Mongolia-U.S. Parliamentary Group G.Zandanshatar, delving into ways to attract foreign investment to Mongolia.

Saunders pointed out that the new Mongolian government seems to be working actively, and said that the key to attracting foreign investment is ensuring government stability and having a vision for the future. Mongolia needs to pay attention to creating a favorable investment environment and ensuring transparency, Saunders added.

G.Zandanshatar highlighted Mongolia’s efforts to increase investment. “Mongolia has an immense amount of resources and opportunities to attract foreign investors. I’d like to highlight that Mongolia is already paying a great deal of attention to bringing stability to the nation and creating a favorable business environment. Our main target is not just developing mining, but to comprehensively develop agriculture and boost export volume,” he said.

Finishing their meeting, Steve Saunders invited G.Zandanshatar to attend the NAMBC’s forum scheduled to take place in Washington, D.C., in April 2017.