MINISTER DAMDINNYAM HIGHLIGHTS MONGOLIA’S COMMITMENT TO STRENGTHENING LEGAL FRAMEWORK FOR INVESTMENT

Minister of Industry and Mineral Resources G. Damdinnyam received H.E. Sandra Choufani, Ambassador of Canada to Mongolia.

During the meeting, Minister Damdinnyam emphasized that the comprehensive partnership between Mongolia and Canada is based on shared values such as democracy, human rights, and the rule of law. He noted that Canada is one of Mongolia’s third neighbors and a leading investor in the mining sector.

The Minister highlighted that around 80 percent of all foreign investment in Mongolia between 2015 and 2024 was directed toward the mining sector, with the Oyu Tolgoi project playing a major role in boosting Mongolia’s economic growth and business activity. He also pointed out the successful implementation of projects by Steppe Gold and Erdene Mongol LLC, both listed on the Toronto Stock Exchange.

Ambassador H.E. Sandra Choufani expressed Canada’s readiness to strengthen and expand cooperation in the mining sector and reaffirmed support for the Mongolian Government’s policies and measures aimed at creating a favorable investment climate.

Minister Damdinnyam underlined that the State Great Khural (Parliament) and the Government of Mongolia will prioritize improving the legal environment for investment, ensuring the protection of investors’ rights in line with international standards, and enhancing the system for resolving potential disputes and breaches related to investment agreements in a fair, effective, and timely manner.