AKIPRESS.COM - President of Mongolia Khurelsukh Ukhnaa, who is paying a state visit to France, delivered a speech at the Mongolian-French Business Forum on October 12, Montsame reports.

In his opening speech, the President expressed his deep gratitude to the Mongolian and French entrepreneurs and enterprisers who attended the Forum aimed at expanding trade and economic cooperation between the two countries.

"Presently, there are 66 French companies registered in Mongolia and about 80% of their investments are in the mining sector. We believe that today's Business Forum is important for the further development of mutually beneficial cooperation between the two countries," the President stated.

He added that the government of Mongolia is making comprehensive legal and institutional reforms in the investment policy to improve the investment climate and protect investors' interests. In particular, the Ministry of Economy and Development has been newly established.

The President mentioned that special attention will be paid further to improving the legal environment for foreign investment in Mongolia and creating an investment climate for stable operations for investors.

Khurelsukh Ukhnaa emphasized that Mongolia has a stable tax environment, and tax rates are relatively low compared to other countries in the region. Mongolia has established a bilateral Agreement on Foreign Investment Protection and Promotion with 43 countries and Double Taxation Treaties with 26 countries.

Agreement on Foreign Investment Protection and Promotion was established with the French Republic in 1991 and the Double Taxation Treaty in 1996.