CITY OF LONDON PLEDGES TO SUPPORT ESTABLISHING INT’L FINANCIAL CENTER HERE

Ulaanbaatar /MONTSAME/ On August 20, L.Bold and G.Batkhuu MPs received Sir Paul Judge, Alderman of the City of London. G.Batkhuu MP invited Sir Paul Judge to have a convenient stay in Mongolia and highlighted his satisfaction with the fruitful cooperation between London’s international financial center “The City of London” and the Financial Regulatory Committee of Mongolia. In response, Sir Paul thanked the MPs for their time and noted that the United Kingdom was the first western country to establish diplomatic ties with Mongolia, and that the ties have endured for 50 years now. Mentioning that Mongolia is a role model for strengthening its democracy and cherishing rule of law and human rights, he said that the meeting’s main purpose is to offer Mongolia a support for establishing an international financial center in Ulaanbaatar. He underlined that Mongolia has not only a rapidly growing economy but also a suitable location. L.Bold MP presented some information on the previous studies completed on establishing such a financial center in Ulaanbaatar, and noted that it will be of great importance in the economic conditions of our country and the region.