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Investment Agency to launch operation soon

By M.ZOLJARGAL

The Mongolian government is planning to commence a state Investment Agency, another state implementing agency, with the aim to take comprehensive action to attract investors and increase foreign investment while protecting interests and rights of both investors and the public.

The agency will also aspire to set up a favorable legal framework for investors in Mongolian market to increase investment inflow.

According to officials, the Foreign Investment Regulation and Registration Authority of the Ministry of Economic Development will be merged to the Investment Agency.

The agency will comprise of three divisions: Commercial and Advisory Service Division, Investment Assessment Division, and Administration and Human Resources Division with a total of 21 employees. The proposal to fund the agency through the state budget has been submitted and is currently pending approval from the parliament.

The governed agreed to form the agency in its last regular meeting as similar organizations proved effective throughout the world. There are over 250 agencies around the world that are devoted to attracting investors.

Short URL: http://ubpost.mongolnews.mn/?p=6673

Posted by on Nov 19 2013. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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