AmCham convenes a critical meeting between Mongolia’s Investment Protection Council and the private sector
ULAANBAATAR, Mongolia – The American Chamber of Commerce (AmCham) in Mongolia hosted its August Monthly Meeting with Mongolia’s Investment Protection Council (IPC) on August 29, 2017, at Shangri-La Hotel Ulaanbaatar. The keynote speakers for the meeting included His Excellency J. Munkhbat, Minister and Head of the Cabinet Secretariat, and Chair of the Investment Protection Council; the Honorable Jennifer Zimdahl Galt, United States Ambassador to Mongolia; and Mr. Jay Liotta, Chairman of AmCham Mongolia.
The speakers discussed Mongolia’s investment protection environment and an in-depth review of Mongolia’s Investment Protection Council, including its mission, objectives, challenges, and ways forward to promote Mongolia as a global investment destination.
The meeting convened AmCham members and representatives from Mongolia’s leading businesses, senior representatives from the Ministry of Justice and Internal Affairs, Ministry of Finance, Ministry of Foreign Affairs, Cabinet Secretariat of Mongolia, Prime Minister’s Office, World Bank, and International Financial Corporation.
Minister J. Munkhbat highlighted the bilateral partnership between the U.S. and Mongolia during his keynote remarks and said, “The Government of Mongolia’s foreign policy toward the United States of America has always been to develop a comprehensive partnership in various industries based on strategic interests. As of 2015, there were 303 companies, U.S. and U.S.-invested, registered in Mongolia.”
Ambassador Galt highlighted the importance of the IPC during her welcoming remarks and noted, “I am pleased that International Finance Corporation, AmCham Mongolia, and the Government of Mongolia are working together to create an Investment Protection Council which promises to offer an improved dispute resolution mechanism, among other activities.”
Mr. Liotta concluded the meeting and said, “AmCham is pleased to host today’s event, as meetings such as this create a bridge between policy makers and private sector; allowing for productive discussions to achieve real progress in creating an improved and enabling business environment in Mongolia.”
About AmCham Mongolia
AmCham Mongolia is an independent membership-driven organization that seeks to build, strengthen, and protect business between the United States and Mongolia, and to actively promote Mongolia as a destination for American investment. AmCham Mongolia is the official local affiliate of the U.S. Chamber of Commerce, the largest business federation in the world with over 3 million member companies. AmCham Mongolia is also a member of the Asia-Pacific Council of American Chambers of Commerce, consisting of 29 American Chambers of Commerce in the Asia-Pacific region.