World Bank to Join the Mongolia Economic Forum

Ulaanbaatar, Mongolia, May 17, 2018—Christine Zhenwei Qiang, PhD, Practice Manager for the Global Investment and Competition Unit of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice, will attend the Mongolia Economic Forum (MEF) in Ulaanbaatar on May 21 and 22. During her visit, she will be presenting key findings of the World Bank Group’s recent foreign investment policy analysis to a broad audience, including academia, businesses, government agencies, and development partners in Mongolia. 

On May 18, Qiang will have a discussion on the challenges and opportunities for Mongolia’s FDI policies with students and faculty at the National University of Mongolia and with Women Corporate Directors. On May 21, she will join a panel with Minister Gombojav Zandanshatar  entitled ‘Investment Policy: Global trends and a new path for Mongolia’ at the MEF. 

Qiang emphasized, “Smart policies can help Mongolia maximize the benefits of foreign investment for the country’s businesses and people.” She added, “In particular, investors have emphasized the importance of having stable investment protection in Mongolia. We are committed to supporting the government of Mongolia in optimizing business conditions for all.” 

The World Bank Group has been providing policy advice and technical support to Mongolia to enhance investment policy, restore investor confidence, and build capacity through the International Finance Corporation’s (IFC) Mongolia Investment Policy and Agriculture Promotion advisory project since 2014. In April 2017, IFC, a member of the World Bank Group, completed a comprehensive report with recommendations on how Mongolia’s agriculture sector can draw foreign direct investment to enter the global value chain. IFC has been conducting trainings since April 2018 to promote and attract FDI, with the first session benefiting more than 50 staff in various government agencies. 

“While the National Development Agency (NDA) has been involved in a range of activities with regard to the IFC/WBG Investment Policy and Agriculture Promotion project, the Investment Reform Map has become a milestone,” – said B. Bayarsaikhan, Director General of NDA.  “Further, research and recommendations from consultations on the Map will lay the foundation for joint efforts — to formulate a new investment policy and an Investment Policy Statement. Establishing a PPD mechanism, the Public Private Consultative Committee, with IFC’s support is good progress in terms of working with the private sector to improve Mongolia’s investment climate and increase investor protection.”