Mongolia Hosts "Japan Investment Day" Event
Montsame, Ulaanbaatar, February 27 - According to the Ministry of Economic Development, the Center for Protection of Investors' Rights under the Ministry held the "Japan Investment Day" event on February 25.
Deputy Minister of Economic Development S. Davaasuren stated that the "Japan Investment Day" marks the beginning of effective cooperation between the two countries and will open up opportunities to infuse economic content into the special strategic partnership between Mongolia and Japan. He pointed out, "Introducing Japanese advanced technology, quality standards, and management experience is crucial to accelerate renewable energy and energy transition, promote production with value-added tax in key mineral resources and agriculture, and ensure sustainable development of infrastructure."
He also emphasized that the Mongolian government highly values signing trade agreements to expand foreign trade opportunities and expand export markets. Mongolia and Japan are continuously expanding their cooperation within the framework of the "Special Strategic Partnership for Promoting Peace and Prosperity," with economic and investment cooperation becoming an important pillar of bilateral relations. The government is working to create a stable, transparent, and predictable environment for investors and is developing amendments to the "Economic Freedom Law," "Investment Law," and "Licensing Law."
Japanese Ambassador to Mongolia, Haruhisa Iikawa, stated in his speech that the Japanese embassy in Mongolia will continue to serve as a bridge for entrepreneurs from both countries and closely cooperate to create an efficient cooperation mechanism and a stable legal environment. Japan emphasized the need to ensure a stable and predictable tax environment, improve tax and related policies for foreign investors, and clarify investment incentive mechanisms. At the same time, it proposed deepening mining cooperation, regularly holding B2B meetings in the wool and cashmere sectors, and strengthening coordination of equipment financing and export insurance mechanisms. Japan also raised issues regarding the preparation period, standards, and requirements faced in large-scale infrastructure projects and pointed out that it is necessary to strengthen coordination to deepen cooperation.
Currently, Japan accounts for 4.1% of Mongolia's total foreign trade, with exports accounting for 0.1% and imports for 9.6%. In the first half of last year, Japan's direct investment in Mongolia reached $1.7 billion, accounting for 3.5% of the total foreign direct investment. The "Japan Investment Day" event aims to elevate the economic cooperation between the two countries to a new level, enhance mutual understanding and trust, and inject momentum into the implementation of specific projects.
Original article: toutiao.com/article/1858279202186252/
Statement: This article represents the personal views of the author.