Mongolia always keeps its door open to Vietnamese businesses in order to boost bilateral economic and trade cooperation, Mongolian President Tsakhiagiin Elbegdorj said at the Vietnam-Mongolia Business Forum in Ho Chi Minh City on November 22.

The President, who is on a State visit to Vietnam from November 21-24, said his country boasts a vast land area and a developed animal husbandry sector with 50 million animals, so Mongolia and Vietnam can cooperate in meat trading, as well as in other sectors of great potential in Mongolia, such as coal mining, oil exploration and tourism.

He added that Mongolia , which borders Russia and China , can serve as a base for Vietnamese businesses to expand into these two giant markets.

The President emphasized that his country has issued the Investment Law with many favourable policies for foreign investors.

For her part, Deputy Chairwoman of the municipal People’s Committee Nguyen Thi Hong said Mongolia and Vietnam in general and Ho Chi Minh City in particular can boost cooperation in hi-tech husbandry, farm produce processing and export, rice production and tourism, taking into account their respective strengths.

She quoted statistics that HCM City ’s exports to Mongolia reached over 1.5 million USD in the first half of this year,, which, she said, was a modest figure compared to the two sides’ potential.

The forum provided a good chance for Mongolian businesses to study Vietnamese market, especially HCM City as well as for Vietnamese enterprises to seek business opportunities with Mongolian partners, Hong said.

She affirmed that HCM City always welcomes Mongolian leaders, businesses and tourists to the city.-VNA