Mining and Legal Committee delegates pays a courtesy call to the Minister of Industry and Mineral Resources
Business executives from AmCham's Mining and Legal Committees convened with the Minister of Industry and Mineral to present AmCham's stance on emerging issues within the mining sector, including the legal framework, licensing, specific challenges related to mining projects and investment agreements, as well as the contentious topic of 'strategic deposits' in relation to the sovereign wealth fund.
During the discussion, both parties shared perspectives on enhancing investment in the mining sector and refining the legal and regulatory framework. AmCham Mongolia put forth several proposals designed to bolster Mongolia’s economic development and enhance the business climate by promoting private sector investment.
The proposals included:
• Ensuring transparency and stability in the investment legal environment, along with improving mechanisms to safeguard the rights and interests of the private sector;
• Minimizing state interference and accelerating reforms for state-owned enterprises; and
• Redefining the term 'strategic deposits', and enhancing both the content and execution of the Minerals law.
AmCham underscored that these proposals are essential for boosting investor confidence and establishing a conducive business environment.
Minister G. Damdinnyam remarked that the government is in the process of developing a comprehensive legislative package aimed at attracting investment and enhancing the business environment.
He also conveyed his willingness to collaborate with AmCham in refining the Minerals Law and promoting social consensus within the mining sector.
Photo by: Аж үйлдвэр, эрдэс баялгийн яам / Ministry of Industry and Mineral Resources