The 12th Annual International Mining Investors Forum “Discover Mongolia 2014” kicks off today at the Mongolian Children's Palace.

The Ministry of Mining and the Mongolian National Mining Association are organizing the annual forum. Mining Minister D.Gankhuyag noted in his opening speech at the forum, that Mongolia is improving its legal environment to attract more investment.

Foreign direct investment (FDI) dropped by 70 percent in the first half of 2014, which was once 4 to 5 billion USD in 2011. FDI was equal to 53 percent of GDP but is now only 7 percent.

The parliament approved a new investment law in 2013 and made amendments to the Minerals Law and Petroleum Law in the last spring session.

The other good news for investors is that Mongolia is determined to maintain its policy in the minerals sector.

During the two-day forum, discussions on the legal environment, the current situation in the gold and coal markets, project finance, and geological research will be held. There will also be a sub-session on rare earth elements. 

Entrepreneurs and entities also display their work in an exhibition for investors. The 12th Annual International Mining Investors Forum “Discover Mongolia 2014” will end on Friday, September 5th.