Ulaanbaatar
President Khurelsukh Addresses the Mongolian-French Business Forum
Economy
Ulaanbaatar, October 12, 2023 /MONTSAME/. President of Mongolia Khurelsukh Ukhnaa, who is paying a state visit to the French Republic, delivered a speech at the Mongolian-French Business Forum on October 12, 2023.
In his
opening speech, the President expressed his deep gratitude to the Mongolian and
French entrepreneurs and enterprisers
who attended the Forum aimed at expanding trade and economic cooperation
between the two countries.
“Presently, there are 66 French companies registered
in Mongolia and about 80 percent of their investments are in the mining sector.
We believe that today's Business Forum is important for the further development
of mutually beneficial cooperation between the two countries.”
“The government of Mongolia is making comprehensive
legal and institutional reforms in the investment policy pursuing the principle of
being “a trustworthy and reliable partner’, for improving the investment
climate and protecting investors’ interests. In particular, the Ministry of
Economy and Development has been newly established.”
The President
mentioned that special attention will be paid further to improving the legal
environment for foreign investment in Mongolia and creating an investment
climate for stable operations for investors. Also, President
Khurelsukh emphasized that Mongolia has a stable tax environment, and tax rates are
relatively lower compared to other countries in the region. Up to now, Mongolia
has established a bilateral Agreement on Foreign Investment Protection and
Promotion with 43 countries and Double Taxation Treaties with 26 countries.”
Agreement on Foreign Investment Protection and Promotion was
established with the French Republic in 1991 and the Double Taxation Treaty in
1996.
