Mr. Narantsogt S., the Vice Minister of Economy and Development has received the delegation of the ‘’Doorknock 2022”, headed by James Liotta, Board Chairman of the American Chamber of Commerce in Mongolia.
The Ministry of Economy and Development presented the New Recovery Policy and the revised draft Investment Law, including current steps taken by the Government to improve the investment environment through investor protection, and digitalization of services as comprehensive reform.
During the meeting, delegation from AmCham and investors elaborated on three key pillars for positive change in the investment environment of Mongolia. Namely, easing the miscommunication between the public and private sector and the involvement of the state in the free market, advancing the implementation of the Transparency Agreement between the two countries, as well as the challenges being imposed on investors due to the incoherence between certain provisions of the Labor Law, the General Law of Taxation, other laws and the judicial body, and the practical need to address these problems.
Vice Minister Narantsogt expressed his thanks to AmCham which acts as a bridge for efficient cooperation between the US and Mongolia, and stated that the Ministry of Economy and Development, within its function of defining investment policy, will pragmatically focus on the issues mentioned above and work on supporting to extend cooperation for a tangible outcome.
