Ulaanbaatar
Mongolian delegation participates in Mines and Money London 2019
Economy | Mining
Ulaanbaatar /MONTSAME/ Minister of Mining and Heavy Industry D.Sumyabazar and other officials took part in the 17th Mines and Money London international event series for capital-raising and mining investment.
Minister
D.Sumiyabazar informed about the Mongolian Government’s policies on mining and development
trends in the sector, saying, “The Government of Mongolia is working towards
the goal of developing responsible, transparent,
environmentally-friendly/green, inclusive, and equitable mining and heavy
industry sectors. For Mongolia,
mining is an important economic sector that makes up 24 percent of the
country’s GDP, 72 percent of the total industrial production, 70 percent of
foreign direct investment, and 89 percent of export products."
"The rule of law equally applies to both foreign and domestic investors in Mongolia and the country’s tax system is internationally competitive. The stability of tax rate is ensured through stabilization certificates and investment agreements. We are working on eliminating overlaps and gaps in laws,” he added.
In addition,
Erdenes Tavan Tolgoi JSC, Erdenes Mongol LLC, and the Erdene Resource
Development Corporation introduced their activities at the event.
