A business forum entitled ‘The Investment Potential of the Republic of Buryatia’ was held on January 18 in the Blue Sky Hotel, Ulaanbaatar.
Co-organized by the Mongolian National Chamber of Commerce and Industry (MNCCI) and the Trade Representative of Russian Buryatia Republic within an ongoing working visit of Alexey Tsydenov, Head of Republic of Buryatia to Mongolia, the business forum was attended by some 30 officials including the Buryatia’s Ministers of Agriculture and Industry, and businessmen.
“Republic of Buryatia has set an ambitious goal to become a main center of startup and innovations in Russia. As our Republic borders with Mongolia, we have potential to cooperate in many spheres such as environment, agriculture, transportation and logistics. We are visiting today to present several mega-project and programs to you. I hope we could see fruitful cooperation in these projects,” Alexey Tsydenov said.
B.Lkhagvajav, Chairman of the Board and President of the MNCCI, emphasized the business forum aimed at making the traditional near border cooperation more fruitful and focusing attention to matters on augmenting investments and expanding the trans-boundary collaboration.
“The Mongolia-Russia cooperation has been intensifying recent years. From 2015 to 2017, we successfully organized several events. As for Mongolian businessmen, making investments to Buryatia is the same as they do to Mongolia. We are geographically located close each other have beautiful Lakes Baikal and Khuvsgul. It means we have the potential to work together in attracting investments from the global market,” B.Lkhagvajav said.
During the forum, information was given to Mongolian businessmen about collecting required documents for doing sustainable business in the Russian market and the guarantee for security. They also were informed about instructions to establish cooperation agreements, new construction works, enjoying support from funds, taxation and insurance discounts.
According to 2017 statistics, the Mongolia-Russia trade turnover reached 1.2 US dollars, increasing by 37 percent against the same period of 2016.