The “Mining Week 2022” joint forum, which was opened in Ulaanbaatar on September 19-23, the vision of Mongolia’s mineral resources sector was discussed, including the government policy, legal reform, investment environment, green development, industrialization, good governance, local community, labor safety, mining supply, women’s participation, mine closure, rehabilitation, and exploitation of derivative deposits were discussed openly.James Liotta, Chairman of the Board of Directors of the American Chamber of Commerce in Mongolia, explained the lack of a legal framework to limit the encroachment of privately owned assets in the mineral resources sector to the inconsistency between laws.
"A legal ecosystem is needed to attract FDI. Even if there is a good investment and mineral law, a favorable investment ecosystem will not be formed if the labor law is bad. In the right environment, the private sector is always ready to operate. Investors can be found. But the environment in which these investors can be at ease is non-existent in Mongolia.
If we manage to reduce corruption, the investment will come to Mongolia.
Also, it is good to show the world that the country can correct its previous mistakes and support the existing investors"
Mining Insight Magazine, October 2022
