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| Seminar held on investments |
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 A seminar themed "Possibilities of making investments and trade in Mongolia" has been held in Prague, the Czech Republic (CR). This seminar was co-organized by the Czech Economic Chamber and the Czech-Mongolian Commercial Chamber under auspices of the Embassy of Mongolia in the CR. The seminar gathered some 50 businessmen of mining, geology, water
resource exploration, construction, agriculture and freight forwarding
companies. It was also attended by O.Enkhtor, the Ambassador of Mongolia to the CR; Ts.Nyamsuren, an advisor to the Ambassador; B.Ganzorig, head of the Foreign Investment and Foreign Trade Agency (FIFTA); Milan Hovorka, Vice-Minister of the Czech Industry and Trade; J.Cilek, Vice-President of the CR's Economic Chamber and other officials. "Mongolia-Czech trade and economic traditional ties were in depression in the beginning of 1990s, the transformation period for the two countries. But, it seems that the ties are reviving in recent years", director of a department of the Czech Ministry of Industry and Trade V.Lorenz says. According to him, the trade turnover between the countries reached USD 16.5 million as the year 2008. The FIFTA head B.Ganzorig said that Mongolian economy's growth was 8.9 per cent in the year 2008. He said however the economy is under the negative influence of the global crisis, the economy of Mongolia will approach 4-5 per cent by the end of this year, and added that investments amounting to USD 708 million were made by foreign companies in Mongolia in 2008. According to him, a total of 63 Czech companies are currently working in Mongolia. The previous year, they made investments of USD 6.3 million in Mongolia. The two countries have a great opportunity to deepen the bilateral economic collaboration in mining, construction, urban development, infrastructure and agricultural sectors. At the seminar, some delegates of the Czech's Export Bank gave a report about financing some projects implemented in Mongolia, and said the bank is ready to render financial assistance for projects in those sectors.
Source: Montsame
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