The platform launched to help Mongolia resolve investor grievances.
We would like to thank the Монголын Yндэсний Худалдаа Аж Yйлдвэрийн Танхим for inviting us to the launch of the ‘Systematic Investor Response Mechanism’ on Tuesday. The protection and attraction of FDI will be key to economic recovery. Congratulations to all the parties that have been involved.
It is a major step in the right direction and AustCham Mongolia fully supports this initiative.
The International Finance Corporation, a member of the World Bank Group, and Mongolia’s National Development Agency on Tuesday launched a platform to help resolve investor grievances.
The platform – the Systemic Investor Response Mechanism – will enable investors to register and track resolution of grievances at an early stage, according to the WBG.
“The Mongolian government recognizes the need for a robust and transparent investment climate that is conducive to Mongolia’s economic growth,” said Banzragch Bayarsaikhan, chairman of the development agency, at an on-line launching ceremony.
“Our collaboration with the WBG will help create a more favorable business environment for investors, retaining and expanding existing foreign direct investment as well as domestic investment in Mongolia,” he said.
Rufat Alimardanov, IFC’s country representative for Mongolia, said: “At a time when economies across the world are impacted by COVID-19, it is even more important to develop innovative ways to attract and retain investment and protect jobs.”
The new platform affirms the Mongolian government’s efforts toward investment climate reforms and restoring investor confidence, Alimardanov added. Enditem