During the World Investment Forum, President Battulga Khaltmaa addressed Mongolia’s efforts in improving investment climate and developing win-win investment agreements. President remarked, “We are in the middle of formulating an integrated investment policy in strict conformity with Sustainable Development Goals. The new policy will help enhance the structure of the relevant authorities and their coordination, and increase the effectiveness of investment.” He highlighted that Mongolia has learnt lessons from this bitter experience and given it special attention at all levels of government by taking step-by-step targeted measures at both national and international levels. “To illustrate, Mongolia established an Investor Protection Council and a Public-Private Consultative Committee mandated to improve the legal environment for investment, promptly resolve complaints and grievances related to bureaucracy and illegal actions and take precautions against any risks,” noted President Battulga and added, “We also focused on developing a win-win investment agreement that ensures our country’s interests on an equal footing by formulating a benchmark bilateral investment agreement in accordance with the recommendations made by UNCTAD.”

Mongolia ranked 53rd out of 126 economies in the 2018 Global Innovation Index
Mentioning that the summit should come up with ways to increase the effectiveness and quality of investment and to modify investment protection mechanisms, President pointed out that Mongolia has set to develop renewable energy and tourism along with agriculture. On this regard, President stressed “Mongolia has proposed “Northeast Asian Energy Super Grid” initiative designed to supply electricity to Northeast Asian countries using Mongolia’s potential to produce renewables such as solar and wind energy. We invite you to work together with us in these sectors and make investments that will introduce new eco-friendly technologies.”

President clarifies patent acquisition of low-emission stoves

On the sidelines, President Battulga met with Francis Gurry, Director General of the World Intellectual Property Organization (WIPO) and Umberto de Pretto Secretary-General of the International Road Transport Union (IRU). Highlighting the distribution of low-emission stoves in Mongolia in recent years and the current discussion on distributing smoke-filtering stovepipes, President expressed his wish to know whether if patent rights had been already granted to similar products during his meeting with WIPO and inquired information related to Mongolia. Mr. Francis Gurry informed that Mongolia was ranked 53rd in the 2018 Global Innovation Index. As for meeting with the IRU, the President disclosed the nearing completion of construction works to connect Mongolia’s capital city Ulaanbaatar with capitals of all 21 provinces which has yielded a number of positive outcomes, including shortened transport duration and promotion of tourism sector. He then discussed opportunities for cooperation, including a plan to construct a highway connecting Altanbulag, Selenge Aimag, with Zamiin-Uud, Dornogobi Aimag, while mentioning that the project is open to investment from third countries.

Published Date:2018-10-25