The U.S. Embassy in Mongolia, represented by an unnamed ambassador, has reiterated its commitment to strengthening economic ties between the United States and Mongolia through collaboration with the American Chamber of Commerce (AmCham) in Mongolia. In a recent address at the Blue Sky Hotel in Ulaanbaatar, the ambassador highlighted the mutual benefits of this partnership and commended AmCham for its role in advocating pro-business initiatives.
The ambassador noted that both the U.S. Embassy and AmCham aim to increase American investment and trade in Mongolia while facilitating easier access for Mongolian companies to enter the U.S. market. "We commend AmCham for their continued dedication to strengthening the economic and business ties between the United States and Mongolia," said the ambassador.
A significant part of AmCham's influence is attributed to its vocal stance on issues affecting businesses, such as travel bans, detainment, expropriation, and dispute resolution systems. The ambassador praised AmCham's assertive voice: "Your effective and assertive voice brings issues to the forefront."
Addressing challenges within Mongolia’s investment climate, including regulatory burdens and concerns about government favoritism towards state-owned entities, was another focal point of the speech. The ambassador emphasized that these factors discourage investment: "Mongolia keeps sinking in business attractiveness rankings... when dark clouds start to form in Mongolia’s investment climate."
In light of these challenges, upcoming legislative solutions are being monitored closely by both AmCham and the U.S. Embassy. There is hope for an agreement that would remove expropriation risks associated with strategic deposits.
Highlighting opportunities for cooperation under President Trump's America First Policy, particularly in energy generation reforms that could benefit both nations' commercial interests, was also discussed. Treasury Secretary Bessent’s remarks were cited: “Energy abundance sparks economic abundance.”
The speech concluded with a call for securing investor confidence as a priority: "The first step is to secure investor confidence." The embassy assured ongoing support alongside AmCham to advocate for improved investment conditions.
This partnership aims not only at enhancing bilateral relations but also at creating a more stable economic environment conducive to private-sector growth.