Ambassador Richard Buangan addresses the May Monthly Meeting
Ambassador Richard Buangan addresses AmCham Mongolia members and participants at the May Monthly Meeting.
In his remarks, the Ambassador addressed current affairs and emphasized that the call to advocate for the private sector has never been more needed.
"Mongolia faces many challenges – many of which come just by being a true democracy: an unwieldy, highly factionalized political system struggling to reconcile multiple, conflicting demands on state resources; geopolitical tensions among Mongolia’s primary trading partners; and realignment and rebalancing of the global trading order. This is where it has been helpful to have a private sector partner willing and able to speak truth to power."
Furthermore, he remarked "Turning to the investment climate, I think we can agree that government and parliamentary actions have a direct impact on the private sector, for good or for bad. That is why I strongly believe Mongolia’s economic growth needs to be private-sector led. None of these government actions can be realized without strong private-sector input. And, to get that support, there needs to be a legal, regulatory and investment framework which attracts serious, responsible domestic and foreign private sector investment. Unfortunately, we are hearing from many of you that this framework is not attractive at the moment. Mongolia keeps sinking in the business attractiveness rankings of countries at the critical time it needs to be rising. And when dark clouds start to form in Mongolia’s investment climate, that’s when AmCham and the U.S. Embassy - Ulaanbaatar, Mongolia need to work together to sound the alarm and offer solutions."
AmCham members, over 100+ participants joined this vital discussion and weighed in their questions and opinions as well.
AmCham Mongolia extend its heartfelt gratitude to His Excellency, Richard Buangan, Ambassador Extraordinary and Plenipotentiary of the United States to Mongolia, for graciously addressing our members during the May Monthly Meeting "Cracks in the Foundation: Investor Confidence in Mongolia".
Your insightful remarks and thoughtful reflections on the strengthening partnership between the United States and Mongolia were both inspiring and deeply appreciated by everyone in attendance.
Read the full remarks here:
English: https://mn.usembassy.gov/052925-amb-remarks/
Mongolian: https://mn.usembassy.gov/mn/052925-amb-remarks/