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Welcoming message
Dear Investor,
While sending you our best greetings I am very glad to welcome you to
Mongolia, a country of blue sky in the heart of Central
Asia. On behalf of Government's Committee on Organizing the Investors'
Forum I would like to invite you to participate in the forum entitled
"Mongolia: Investors' Forum - 2002", which will be held on the
17-19-th of September, 2002 in Ulaanbaatar, the capital ofMongolia.
This foreign investors' forum will be held for the 3-rd time in Mongolia
and will be organized within frames of priority economic
sectors of Mongolia such as banking, finance and privatization; infrastructure;
mining and oil industry; food and agro-processing. Supporting and developing
national industry of export orientation is vital in implementing the plans
of the Government of Mongolia
to reach 6% of economic growth and we are holding on the policy of supporting
investors in this direction.
The Government of Mongolia is constantly carrying out complex and interrelated
measures to establish a more favorable
environment for foreign direct investment. For instance, a concept of
"Stability agreement of foreign investment" was formulated
in the Foreign Investment Law and Minerals Law of Mongolia.
This forum will provide you with first hand and newest information about
what Mongolia has done to create better climate for
business, while acquainting with potential investment seeking projects
in the above-mentioned sectors and matchmaking with
Mongolian business people via bilateral meetings.
Come and seize the great opportunities to be found in Mongolia during
this major event of the year. I wish you every success in
your business.
Minister for Industry and Trade of Mongolia,
Chairman of the Government's Committee
on Organizing the Investors' Forum
Chimeddorjiin Ganzorig
This Forum will focus on the priority economic sectors for foreign investment
as:
1.Banking, financing and privatization - Due to the Government complex
set of measures towards stabilization
of the banking sector, including a sound medium and long-term development
strategy for financial sector, and the
privatization policy on state-owned assets; this sector has a particular
potential to attract foreign investors.
2.Infrastructure (road, transportation; tourism; ICT; construction)
- Rapid development of Mongolia's
infrastructure sector is of decisive importance in accelerating the country's
social and economic development. The
Government envisages substantial measures to support this comparatively
weak developed sector such as
granting various incentives to investors making an investment into the
sector.
3.Mining and oil - Mongolia's large territory and incompletely-tested
mineral potential make it an attractive
prospect for exploration, especially for copper, gold and oil, which have
international commodity market.
4.Food and agro-industry - Comparative advantage to cultivate on abundant
reserves of 1.3 million hectares of
unfertilized arable land gives a big chance to Mongolia to enter the international
market with ecologically clean
products. As well, with its 30 million livestock, Mongolia has a great
potential to explore the opportunities on
processing of animal originated raw materials such as cashmere, wool,
skins and hides, production of these raw
materials goods, and production of animal originated food products like
meat and meat products, milk and diary
products and etc.
The 3-day Forum will consist of 2 main parts: General Conference and
Sub-Conferences on above sectors individually.
Investment-seeking projects to be introduced to foreign investors will
be compiled with the assistance of the UNIDO.
The Government Preparatory Committee for organizing the Forum was established
headed by Mr. Ch. Ganzorig, the Minister of
Industry and Trade. The Foreign Investment and Foreign Trade Agency /FIFTA/,
the Government authority responsible for
promoting and facilitating foreign investment and foreign trade in the
country, is the main organizing agency of this Forum.
This Investors' Forum will be the third one, following the two previous
forums, which have been organized in Mongolia in the
frame of "Mining, Oil and Gas sectors" in 1997 and "Agro-industry
and Tourism sectors" in 1998. Having organized these forums
brought greater outcome, resulting in the increase of FDI in particular
sectors mentioned. Meanwhile, the total amount of foreign
direct investment registered in Mongolia since 1990 is accounted for 480
million USD, which was made by 2000 companies from
72 countries over the world.
In addition, the year of 2002 was announced by the Government of Mongolia
as "The Year of Investment Promotion", in which
frame a set of activities towards promoting and facilitating domestic
and foreign investment have been approved to be
undertaken.
The Government of Mongolia is welcoming you to "Mongolia: Investors'
Forum - 2002" to seize the great opportunities to be
found in Mongolia.
If you are interested in knowing more about this Forum,
please refer to the following contacts:
Ms. Kh. Oyuntsetseg
Director
Foreign Trade and Cooperation Department
Ministry of Industry and Trade
Tel: 976-11-321095
Fax: 976-11-321095
Email: [email protected]
Web: http://www.mit.pmis.gov.mn
Mr. B. Ganzorig
Chairman
Foreign Investment and Foreign
Trade Agency /FIFTA/ #9;
Tel: 976-11-326040, 310599
Fax: 976-11-324076
Email: [email protected]
Web: http://www.investmongolia.com
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