Online system to resolve investor grievance launchedEconomy
Ulaanbaatar/MONTSAME/. An institutional platform — the Systemic Investor Response Mechanism (SIRM) started operating in Mongolia with the support of IFC, a member of the World Bank Group. The National Development Agency is in charge of the platform.
The platform enables investor to register and track resolution of grievances at an early stage. With the help of the platform, the NDA receives investor grievances digitally and resolves efficiently and transparently by way of collaborating with relevant government organizations.
At a virtual conference 'Trade Facilitation and Investor Protection,' organized on December 2 by AmCham and IFC, N. Dashdemberel, Direcator of Investment Policy, Coordination Department at NDA, introduced the role and importance of the platform including what kind of complaints can be submitted and monitoring of the solving process through SIRM system, during his presentation on 'Investment protection and SIRM system'.
He said that if an investor wants to settle his/ her grievance caused by wrongful actions of a government agency, the investor can go to www.ipc.gov.mn to file a complaint online and have a multi-stakeholder and transparent monitoring of the resolution. By doing so, it will create a unified database of issues facing investors. The database will provide an opportunity to analyze the current state of the business and investment environment and its regulations, and will be the basis for further policy changes.