PUBLIC-PRIVATE SECTOR CONSULTATIVE BODY TO BE ESTABLISHED

Ulaanbaatar /MONTSAME/ The Investment Protection Council of Mongolia held its regular meeting on December 4 to discuss its progress and future actions. “The Government aims to improve Mongolia’s competitiveness in order to attract investment. To make this possible, we must ensure transparency in our policy and decision, and accountability and consistency in listening to investors and responding to their requests with immediacy,” noted G.Zandanshatar, Head of the Council and Cabinet Secretariat during the meeting. Based on these principles, the Council agreed to create a database and single-window service center for investors and establish a permanent public-private sector consultative body, affiliated with the Council. The Council also discussed reports on recommendations on improvement of legal environment surrounding investment which are being drafted, and actions taken to examine alleged bureaucracy and pressure towards investors and enterprises by government and law enforcement bodies and remove errors of corresponding laws. The Investment Protection Council was established in 2016 to restore the faith of foreign investors and attract investment to Mongolia. The new Cabinet led by Prime Minister U.Khurelsukh states it will ensure continuity of the Council’s policy and functions. Kh.Aminaa