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Mongolian Prime Minister Norov Altankhyag said that Mongolia is making progress in a dispute with Rio Tinto Group that has stalled the expansion of its copper mine, and understands that the nation needs to become more welcoming to foreign investors. This remark was made following a visit to Beijing. This month Mongolian parliament approved a law that ended different rules for domestic and foreign non-state investors after the Mongolian tugrik fell 21 percent against the U.S. dollar this year, and foreign direct investment slumped by 47 percent.
The premier noted, a 15 percent drop in coal prices this year eroded earnings from Mongolia’s biggest export by 45 percent over the first nine months of 2013. The country is prioritizing the volume of coal exports to China, its biggest customer, rather than the price, as well as expanding the infrastructure of the Tavan Tolgoi coal mine.
| Mongolian Premier Salutes Foreign Investors | ||
| Үзсэн: 2387 | Mongolian National Broadcaster |
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