A senior official of the Vietnamese Ministry of
Agriculture and Rural Development (MARD) has pledged to encourage businesses to
invest in Mongolia in the principles of equality and mutual interest. Tran Kim
Long, Deputy Head of the MARD’s International Cooperation Department, told a
business forum in Hanoi the ministry will help businesses solve outstanding
problems and develop solutions to boost bilateral trade and investment
relations.

Ch. Bayarmunkh from the Mongolian embassy emphasized that
his country’s political stability and security make it ideal for foreign
investment. Foreign investment has been encouraged as an important factor in
sustaining the nation’s economic growth, said the diplomat. Long-term
agreements and financial stimuli for foreign investors, including tax reduction
and exemption as well as policies in favor of exports, have turned Mongolia
into a promising land for investors, he said.

Two-way trade revenues remained modest, at USD9.8 million
in 2009. That figure is expected to rise to USD10 million in 2010 with canned
vegetables, groceries, sweets, cooking oil and veterinary medicine to be
Vietnam’s major exports.