Life in Rural Kyrgyzstan
Mongolia|economy|September 23, 2019 / 02:43 PM
Mongolia, Japan might develop mutually beneficial cooperation in mining sector

AKIPRESS.COM - Minister of Mining and Heavy Industry of Mongolia D.Sumiyabazar visited Japan last week, Montsame reported. 

During his visit, Mongolian Mining Investment Forum was held and Mongolia’s investment climate, opportunities and Government implementing policies in mining sector were introduced to over 300-business delegation.

Foreign direct investment of USD 23.9 billion has been made to Mongolia in 1990-2018. 73 percent of them were made to mining sector and it shows the role of the sector in the economy. The Mongolian Government is pursuing policy to create open and transparent environment to investors and protect interest of business people.

“Mongolia’s mining projects started being registered in stock exchange. An exploration company that listed on Toronto Stock Exchange has enlisted in Mongolian Stock Exchange in 2018. I am underlining that this process has been intensifying and the companies are submitting their requests of double registration. Preparation works are being done since the Mongolian Parliament resolved to sell up to 30 percent of the total shares of Erdenes Tavan Tolgoi JSC at foreign and domestic stock exchanges. The Government set a goal to increase volume and quality of coal export of Mongolia in a way of financing projects and programs in railroad, energy, auto road and coal preparation plants and supplying coking coal to Northeast Asian countries through Chinese and Russian territories. Cooperation proposals in these directions are open to investors. It is calculated that financing of USD 20.4 billion is required in 149 development projects of Mongolia. Therefore, mutually beneficial cooperation and joint efforts of businessmen and investors are crucial for us,” said the Minister.

“Trade turnover between Mongolia and Japan reached USD 600 million. The Japanese side has made huge investment in energy sector of Mongolia in the past. Now, there is possibility for producing high quality final products with the help of Japan technologies and run mutually beneficial cooperation,” Director ‘Erdenes Mongol’ LLC P.Gankhuu highlighted.

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