"Investment environment and its legal term should be stable and understandable"

Ulaanbaatar /MONTSAME/ Chief Financial Officer of the Aabar Investments, a private joint stock company Mr Andrew Thornber said it when a headed by him a delegation was received Thursday by P.Tsagaan, the head of the Presidential Office of Mongolia. The delegation also included Mr Mo Munshi, a director of Gobi Coal and Energy LLC; Mr Joseph Borovsky, a consultant to the Aabar Investment PJS and president of the “Razia” Group; Mr M.Choidorj, the director-general of the “Gobi Coal and Energy” LLC; and Mr James Hen, a foreign relations manager of the company. The Aabar’s delegation noted that it has been cooperating with Mongolia in investments for the mining and financial sectors and expressed a willingness to make additional investments. "The investment environment is not very stable in Mongolia", noted Mr Thornber and said they are visiting in specific times when one government resigned and a new one has started working. In response, Mp Tsagaan pointed out that the Mongolian state is working on creating more stable environment for investors. The visitors said it highly value Mongolia’s democracy and expressed a hope that the collaboration will continue. Aabar Investments is a private joint stock company registered and incorporated in Abu Dhabi, UAE. The company is engaged in investing activities in various industries including infrastructure, aviation, real estate, automotive, commodities, energy and financial services. Aabar was delisted from the Abu Dhabi Securities Exchange (ADX) effective 14 September 2010 and subsequently converted from a public joint stock company (PJSC) to a private joint stock company (PJS). The company’s parent is the International Petroleum Investment Company (IPIC), wholly owned by the Government of Abu Dhabi. As per IPIC’s semi-annual financial statements, IPIC's ownership in Aabar stood at 95.52% as of 30 June 2012.