On February 27, Foreign Affairs Minister D.Tsogtbaatar attended as a panelist in the monthly meeting of the Business Council of Mongolia.  

Under the theme ‘Improving trade & investment and opportunities in 2018’, the Minister introduced actions of Mongolian government on increasing foreign direct investment and trade, creating favorable investment environment and protecting the interest of investors, as well as outcomes and further goals.

Foreign Minister D.Tsogtbaatar also noted that certain measures on recovering and diversifying economy and building sustainable environment of macro economy taken by the Government over the past one and half year have resulted in improving economic downturn.

“Mongolia’s economic growth for 2017 reached 5.1 percent. International banking and financial organizations such as the World Bank and IMF have perspectives for Mongolia’s economic growth in 2018-2020 to be around  4-8 percent,” he added.

“As of 2017, Mongolia’s foreign trade turnover reached USD 10.5 billion, an increase of 27.3 percent against the previous year. Mongolia’s export volume reached USD6.2 billion, increased by 26.1 percent as compared with the previous year. Moreover, effective economic policy restores the confidence of investors, causing the foreign direct investment to rise to USD1.3 billion by the end of 2017. It contributed to raising Mongolia’s foreign currency reserve and stabilizing Tugrug currency rate,” highlighted the Minister.

In addition, the Minister expressed a position of Mongolian government to pay a special attention on improving investment environment and satisfying stability. Moreover SMEs operating in non-mining sectors will be supported under the specific policy to diversify economy, he said.

Along with Foreign Affairs Minister D.Tsogtbaatar, German Ambassador Stefan Duppel, Australian Ambassador John Langtry and Italian Ambassador Andrea De Felip took part in the BCM monthly meeting.

Source: Montsame.mn