Mongolian Province to Attract Foreign Investment

A two-day investment forum aimed at boosting development in Mongolia's Dornogobi province will be a new start to attract investors to the landlocked Asian nation, a senior official has said.

"Many companies are interested in investing in our province as we are going to have a large infrastructure project in the province," Dornogobi governor P. Gankhuyag said at the forum, which ended Saturday. He was referring to the Mongolian government's plan to develop a heavy-industrial park in Sainshand that includes a cooking coal plant, a copper smelter plant and an oil refinery.

Dornogobi, which borders China, has Mongolia's only railroad running through its provincial capital Sainshand to China. Known for its rich mineral resources, the province has seen operations of many international companies such as Dongsheng Petroleum of China and Areva Group of France.

As Mongolia is also going to build new railways from large mining sites in South Gobi region to eastern province, "Sainshand is going to be a key hub of railroad and motor-road," Gankhuyag added.

Chinese Ambassador to Mongolia Wang Xiaolong, who also attended the forum, hailed Dornogobi's rich natural resources, saying he believed the province would have a bright future.

"Development of the province not only contributes to Mongolian economy, but also to the development of China and strengthening of friendly relations between China and Mongolia," Wang said.

Cooperation between the two sides goes beyond the mining sector, said the ambassador, adding it has also covered humanitarian and other valued-added production fields.

Source:Xinhua News Agency of China