Ulaanbaatar, Mongolia, May 17, 2018
—Christine Zhenwei Qiang, PhD, Practice Manager for the Global Investment and Competition Unit of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice, will attend the Mongolia Economic Forum (MEF) in Ulaanbaatar on May 21 and 22. During her visit, she will be presenting key findings of the World Bank Group’s recent foreign investment policy analysis to a broad audience, including academia, businesses, government agencies, and development partners in Mongolia.
On May 18, Qiang will have a discussion on the challenges and opportunities for Mongolia’s FDI policies with students and faculty at the National University of Mongolia and with Women Corporate Directors. On May 21, she will join a panel with Minister Gombojav Zandanshatar entitled ‘Investment Policy: Global trends and a new path for Mongolia’ at the MEF.
Qiang emphasized, “Smart policies can help Mongolia maximize the benefits of foreign investment for the country’s businesses and people.” She added, “In particular, investors have emphasized the importance of having stable investment protection in Mongolia. We are committed to supporting the government of Mongolia in optimizing business conditions for all.”
The World Bank Group has been providing policy advice and technical support to Mongolia to enhance investment policy, restore investor confidence, and build capacity through the International Finance Corporation’s (IFC) Mongolia Investment Policy and Agriculture Promotion advisory project since 2014. In April 2017, IFC, a member of the World Bank Group, completed a comprehensive report with recommendations on how Mongolia’s agriculture sector can draw foreign direct investment to enter the global value chain. IFC has been conducting trainings since April 2018 to promote and attract FDI, with the first session benefiting more than 50 staff in various government agencies.
“While the National Development Agency (NDA) has been involved in a range of activities with regard to the IFC/WBG Investment Policy and Agriculture Promotion project, the Investment Reform Map has become a milestone,” – said B. Bayarsaikhan, Director General of NDA. “Further, research and recommendations from consultations on the Map will lay the foundation for joint efforts — to formulate a new investment policy and an Investment Policy Statement. Establishing a PPD mechanism, the Public Private Consultative Committee, with IFC’s support is good progress in terms of working with the private sector to improve Mongolia’s investment climate and increase investor protection.”
The project team has also been working with the Government of Mongolia to support the Investor Protection Committee, including the development of a systemic mechanism to respond to investor grievances.
Mr. Ganhuyag Chuluun, President of the CEO Club of Mongolia, noted, “We strongly believe that the World Bank Group’s presentation of its findings on the Mongolian investment environment will be one of the key components of the MEF. At the age of technological development there is little left to be considered as secret information, thus purpose of the forum was and continues to be a an open and straightforward dialogue platform between government officials, wealth generators, academia and foreign investors on available internal and external policy-making, business-driving data.” The CEO Club is the organizer of MEF.
IFC will soon publish a report, Investment Reform Map, that would serve as a basis for short and medium-term action plans to further improve Mongolia’s investment climate.
Based in Washington, D.C., Qiang leads a team of international experts, which advises client governments in 90 countries on catalyzing reforms that foster private investment and jobs, and create open, competitive markets. Qiang will be accompanied by Jigjidmaa Dugeree, project manager, and Xavier Forneris and Dongwhook Chun, Senior Private Sector Specialists of the World Bank Group.
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit