NAMBC Chairman Frank Herbert and a delegation of the NAMBC board of directors held meetings over a period of four days with senior Mongolian Government leaders in late October and came away cautiously optimistic about Mongolia’s economic recovery and the government’s commitment to welcome back foreign direct investment. Chairman Herbert said he was “impressed” with the sincerity of the government’s “renewed commitment to stability, consistency, and transparency.” Herbert also noted with approval the extent of sharp official focus on moving forward on essential infrastructure and big mining projects, ratifying the Mongolia-Canada Foreign Investment Protection and Promotion Agreement (FIPA), implementing the US-Mongolia Transparency Agreement, improving the regime for the mining sector, revising the 2009 Customs Law to remove WTO-inconsistent language requiring Certificates of Origin for all imports, improving the nation’s image for foreign investors and dealing with the nation’s debt and fiscal situation.
In addition to State Secretary D. Davaasuren and other senior officials at the Foreign Ministry (pictured above), the NAMBC leadership met with President Ts. Elbegdorj, Parliament Chairman M. Enkhbold, Prime Minister J. Erdenebat, Mining Minister Ts. Dashdorj, and Chairman of the Mongolia-U.S. Parliamentary Group MP G. Zandanshatar, among others. The group also met with US Ambassador Jennifer Galt and Canadian Ambassador Ed Jager and well as the leadership of the Business Council of Mongolia and the UB AmCham. NAMBC officers participating included former Canadian Ambassador to Mongolia Anna Biolik, Chris Melville, Managing Partner of Hogan Lovells (Mongolia) LLP, Sean Park of 5.11 Tactical, Undraa Buyannemekh, Executive Director of Nomadic Expeditions Inc, and NAMBC President Steve Saunders.