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

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

He addedthat Mongolia , which borders Russia and China , can serve as abase for Vietnamese businesses to expand into these two giant markets.

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

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

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

The forum provided a good chance for Mongolian businesses to studyVietnamese market, especially HCM City as well as for Vietnameseenterprises 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