Mongolia’s 8th International Mining and Oil Expo opened on Wednesday at the Buyant-Ukhaa sports complex, an event that showcases the latest technologies in the sector and seeks new investments.

Representatives of 130 companies from 20 countries are participating in the Expo that will run until 6 April. The event is considered of great importance for Ulaanbaatar to strengthen projects that generate value-added products and jobs, the Ministry of Mining and Heavy Industry said in a statement.

The ministry highlighted that this sector is growing rapidly followed by construction, transport and energy thanks to open cooperation with companies, the strengthening of public-private partnership and the confidence of investors in applying a policy that provides a legal stable environment.

The Mongolian mining sector makes up 90 percent of exports, 77 percent of industrial products, 22 percent of Gross Domestic Product and 64 percent of the foreign investment.