Minister of State M.Enkhsaikhan made an announcement just after the Head of the Office of the Government submitted the Tavantolgoi Resolution Draft to the Speaker of the Parliament.
Legally Cabinet has the rights to make decisions to move the project, but Parliament had insisted on discussing the project. In that regard, cabinet has submitted the draft of the resolution, which needs to look at three basic documents:
- Investment Agreement
- Concession Agreement
- Cooperation Agreement
What is our wish? We wish for Parliament to come up with a right decision not only regarding the Tavantolgoi, but the decision which will raise the credibility in front of other investors. We wish to show others that Mongolia is capable of implementing mega projects. We are trying to monitor every concern raised in regards with this mega project and we are trying to address every issue. Lately we are disseminating infromation on how the criticism should be understood and addressed through our website.
Cabinet submitted the project related documents openly. Nothing is hidden from the public. Open discussions will be held to discuss the certain provisions of the project agreement. As all the parties of the concession are publicly listed comapnies at Tokyo, Shanghai and Hong Kong Stock Exchanges, there might be accusations that shareholder rights are being violated. Therefore, it is essencial to take all those aspects into consideration.
Minister of State M.Enkhsaikhan made an announcement just after the Head of the Office of the Government submitted the Tavantolgoi Resolution Draft to the Speaker of the Parliament.
Legally Cabinet has the rights to make decisions to move the project, but Parliament had insisted on discussing the project. In that regard, cabinet has submitted the draft of the resolution, which needs to look at three basic documents:
- Investment Agreement
- Concession Agreement
- Cooperation Agreement
What is our wish? We wish for Parliament to come up with a right decision not only regarding the Tavantolgoi, but the decision which will raise the credibility in front of other investors. We wish to show others that Mongolia is capable of implementing mega projects. We are trying to monitor every concern raised in regards with this mega project and we are trying to address every issue. Lately we are disseminating infromation on how the criticism should be understood and addressed through our website.
Cabinet submitted the project related documents openly. Nothing is hidden from the public. Open discussions will be held to discuss the certain provisions of the project agreement. As all the parties of the concession are publicly listed comapnies at Tokyo, Shanghai and Hong Kong Stock Exchanges, there might be accusations that shareholder rights are being violated. Therefore, it is essencial to take all those aspects into consideration.