Ulanqab /MONTSAME/ In frames of Mongolia-China Expo, Regional Cooperation, Economic and Investment Forum was held in Ulanqab city, Inner Mongolia where investment climate and priority projects of Mongolia and Inner Mongolia were introduced to some 650 investors.  

Specifically, 15 major projects of the Government of Mongolia and 56 projects of private sector were presented to businesses and investors from China and other countries, seeking investment and trade partners. Of which 24 were projects on agricultural and animal origin product manufacturing and food industry, 3- on equipment manufacturing, 5 - on building material manufacturing, 3 - in tourism industry, 9 - in light industry, 1 - in mining, 2- in information technology, 1- in hydropower plant, 6- in social service sector and another 2- in strategically developing sector.  

Furthermore, the sides signed over 50 cooperation agreements and memorandums, which were a result of partnership within Mongolia-China Expo held in 2017. The officials consider that it will advance bilateral trade and investment cooperation and partnership at regional level.  

Trade turnover between Mongolia and Inner Mongolia reached USD 4.96 billion in 2018, showing an increase of 27 percent. it takes up 62 percent of the total trade turnover between Mongolia and China, which was USD 8.4 billion in 2018 and the two countries are striving to bring the trade turnover to USD 10 billion in 2020.

“Around 14 thousand foreign invested entities have been registered in Mongolia since 1990 and 50 percent of them were Chinese invested. Direct investment of China reached USD 5.1 billion in this period, making up 20 percent of total foreign investment and was written in the first place out of 120 countries with its investment volume. The fact shows that bilateral trade and investment cooperation has been expanding. The Governments of the two countries officially signed an agreement on the Construction of Erenhot-Zamyn-Uud Economic Cooperation Zone in June, 2019. This would be the first Mongolia-China Economic Cooperation Zone and also one of the important steps that connected ‘Belt and Road’ Initiative of China and ‘Development Road’ strategic policy of Mongolia,” said B.Bayarsaikhan, Head of the National Development Agency of Mongolia.

Chairman of the National Development and Reform Commission of Inner Mongolia Gun Min Zhun noted that Inner Mongolia’s investment to Mongolia has been increasing permanently. "As of June, 2019, we negotiated to make investment of USD 19.52 billion to 226 projects of Mongolia. Big construction projects have shown positive progress and we have been actively encouraging works to establish Erenhot-Zamyn-Uud Economic Cooperation Zone. Concurrently, the sides are promoting collaboration in directions of green environment, livestock industry, modern energy economics, and using big data.