More than 120 participants, among them the South Korean Ambassador, attended the “Western Region: Investors Forum-2009” in Hovd in the province of the same name on August 28. The Ministry of Foreign Relations and Trade and FIFTA jointly organized the forum to discuss how to attract foreign investment to help in the region’s development, and the opportunities and advantages the region offered. Among the speakers were Deputy Prime Minister M.Enkhbold, five provincial Governors – of Bayan Ulgii, Gobi Altai, Zavkhan, Uvs and Khovd provinces – the Head of the Western Economic Region Council, the Deputy Chairman of FIFTA, Trade and Investment Policy Advisor of JICA and Director of Mon N Co (Coal) company.

Speakers emphasized the need for the authorities to be more investor-friendly and to take their role in development as more than obstructive regulators. The provinces are seeking investment in ecotourism, steel rolling, cement factory, agriculture, livestock, wool and leather processing and irrigation. Those interested in any of these investment areas can contact the BCM office for more information and/or help.