AKIPRESS.COM - The United Arab Emirates and Bahrain will collaborate on the exploration and production of oil, natural gas, and mineral resources in Mongolia, with an initial investment of $500 million, GoGo reported.

Additionally, discussions have highlighted the potential for up to $10 billion in investment for a major renewable energy export project.

Negotiations are currently underway to conduct research and feasibility assessments.

According to First Deputy Prime Minister T. Dorjkhand, the interest of Gulf countries in investing in Mongolia is growing due to large-scale construction projects proposed by the joint government, as well as the country's political and policy stability.