World Bank collaborating with Ulaanbaatar to protect investors' rights

Ulaanbaatar /MONTSAME Officials of the World Bank Representative office in Mongolia and the capital Ulaanbaatar Administration exchanged information and views on how to collaborate to support a capital’s council to protect investors’ rights within the framework of a project being implemented by the World Bank in cooperation of the Government of Mongolia. Last Friday, March 31, Governor of the Capital and Mayor of Ulaanbaatar S.Batbold met delegates of the World Bank to discuss the issue. The World Bank delegates of the Department of Trade and Competition introduced that the project would collaborate with the capital in creating a mechanism to resolve complaints and proposals of investors through developing and introducing IT programs to receive investors’ complaints and proposals and to make analysis on them and monitor the solution, based on the existing system of receiving complaints and proposals in the capital city as well as developing related regulations. The World Bank delegates underlined the importance of collaborating with Ulaanbaatar as over 50 per cent of the population of Mongolia resides in the city as well as sustaining a policy to attract investors for a longer period. Governor S.Batbold said “ – It is difficult to resolve pressing issues of the capital and the country without investors. For that, the way of cooperation between investors, businessmen and the capital should be clear. We are ready to support you on utilizing some existing structure, mechanism and experiences of the capital”.