The Ministry of Foreign Affairs and Trade and FIFTA jointly organized the “Eastern Region: Investors Forum-2009” in Choibalsan in Dornod province on August 06. More than 220 participants, including the Turkish and South Korean Ambassadors, exchanged views on how to attract foreign investment to help in the region’s development, and the opportunities and advantages the region offered. Among the speakers were Foreign Minister Batbold, three provincial Governors, the Head of the Eastern Economic Region Council, the Chairman of FIFTA, and the Director of PetroChina Daqing Tamsag.

Speakers emphasized the need to change the authorities’ regulatory-oriented mindset if investors’ interests were to be promoted and the three regional Governors – of Dornod, Khentii and Sukhbaatar – were urged to follow up the ideas expressed and ensure that proposed projects conformed to sustainable development criteria. The provinces are seeking investment in steel rolling, cement, steel and glass, paper recycling, roads, slaughterhouse, piggery, wool washing and combing, cheese making, seed farms, sea buckthorn, and irrigation. Those interested in any of these investment areas can contact the BCM office for more information and/or help.

Foreign Minister Batbold made a special mention of the several BCM members present and invited more of them to attend the next regional forums. The one for the western region will be held in Khovd on August 28, and will include presentations on the Tsagaan Nur Free Trade Zone as well as opportunities in agriculture, raw materials, natural resources and tourism.