AmCham February Monthly Meeting held with His Excellency D. Sumiyabazar, Minister of Mining and Heavy Industry
ULAANBAATAR, Mongolia – The American Chamber of Commerce (AmCham) in Mongolia hosted its February Monthly Meeting with Sumiyabazar Dolgorsuren, Minister of Mining and Heavy Industry, Director of Mineral Resources and Petroleum Agency and other government officials, on Tuesday, February 13, at Shangri-La Hotel Ulaanbaatar.
The meeting convened representatives from AmCham member organizations, directors of departments and heads of divisions at the Ministry of Mining and Heavy Industry, other government organizations, and national and international businesses. The meeting’s attendees exchanged views on issues affecting the development of the mining and heavy industry sectors, and Minister Sumiyabazar provided updates on key legal reforms and plans for mining and heavy industry that will have the potential to bolster private sector development and promote foreign investment.
In his keynote address, Minister Sumiyabazar expressed his gratitude for AmCham Mongolia’s efforts to support and strengthen the private sector. He noted, “Today’s Monthly Meeting organized by AmCham is coming at a very timely moment. I, as the minister, representing the Government of Mongolia, am very much adhering to a principle of undertaking a stable and open policy for investors who have demonstrated great commitment and responsibility. In my opinion, policies and actions happening within this sector should definitely be grounded on key principles, such as human development and the environment, which is imperative for the country’s development. In addition to being transparent, mining activities should be carried out with a high degree of responsibility, and the Ministry of Mining and Heavy Industry is constantly striving to reflect these principles in its policy documents and decisions. The Ministry of Mining and Heavy Industry will be ready to collaborate with AmCham’s newly established Mining, Heavy Industry and Infrastructure Committee in order to build and implement policies and suggestions aimed at providing tangible support to responsible domestic and foreign investors.
Chairman of AmCham Mongolia Mr. Steve Potter, while wishing the ministry success in its upcoming participation in the Prospectors & Developers Association of Canada convention, stated, “The Minister’s attempts to update major policy documents relevant to mining production and heavy industry, including the elaboration of new Mining Law, is not only crucial to solving legal overlaps but also vital to reviving investor confidence and attracting more foreign investment. In order to support Mongolia’s efforts to develop these leading sectors and to protect the rights and interests of the private sector, AmCham is establishing a new Mining, Heavy Industry and Infrastructure Committee, to develop a responsible and competitive mining sector capable of creating a solid and reliable foundation for economic growth and the country’s development. AmCham Mongolia strongly believes in effective collaboration between the Ministry of Mining and Heavy Industry and AmCham by aligning itself with the government’s priorities and programs, as well as with the interests of our members
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.