Submitted by MONTSAME on

During his working visit to UAE, Prime Minister of Mongolia Mr Saikhanbileg met with Mr Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates.
Mongolian Prime minister emphasized that the visit had opened up many opportunities for the business sector of both countries. For example, the two sides have agreed to establish investment fund in Ulaanbaatar aimed at supporting the development projects that are expected to be carried out in Mongolia.
Prime minister Mr Saikhanbileg has also expressed his intention to cooperate in the fields such as industry, infrastructure and energy by attracting investment from the UAE.
The two prime ministers have exchanged views on possibility of opening direct flights from Ulaanbaatar to Dubai, on the need to sign the agreement on investment protection and the agreement for the avoidance of Double taxation.
In the framework of the visit, the Memorandum of Understanding was signed with CIB Financial Group on establishing in Ulaanbaatar the investment fund worth 1 bln dollars in order to support the development projects.

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