Mongolia woos Kuwaiti investors

By Nisreen Zahreddine, Staff Writer


KUWAIT: Mongolian Prime Minister Sokhbater Botbold and an accompanying delegation visited Kuwait's Chamber of Commerce yesterday with the goal of strengthening the two countries economic ties. The prime minster explained that the delegation's visit is an attempt to promote investment in Mongolia's private and public sector, especially in mining, food security, energy, banking, infrastructure and real estate.

Botbold explained the characteristics of foreign investment in his country, stressing the Mongolian government's interest to attract Kuwaiti capital to the basic projects their cabinet is planning to carry out. He explained that Mongolia's huge natural wealth, limited population and previously signed free trade agreements with international markets such as Europe, the United State, China and Japan make investing in Mongolia very promising.

He invited investors to visit his country and take a close look at the investment opportunities offered by his country and to take advantage of the bilateral agreement signed between the two countries.

Chairman of Kuwait's Chamber of Commerce, Ali Al-Ghanim welcomed the Mongolian delegation and asserted that the Chamber of Commerce gives special attention to encourage increasing the amount of Kuwaiti investors in Mongolia, especially in the fields that serve the business sectors of both countries. He added that the private sector in both countries fall under a free economic regime that is distinguished for its open nature and interest in encouraging foreign investment.

He pointed out that Kuwait's Chamber of Commerce is following up on Mongolia's current efforts to execute an ambitious economic plan that will encourage development. Al-Ghanim stressed the importance of the strong bilateral relations between Kuwait and Mongolia and pointed out that trade between the two countries is unjustifiably modest.

Source:www.kuwaittimes.net (Daily Newspaper of Kuwaiti)