The Inner Mongolia Department of Commerce on June 4 issued an action plan to further optimize the foreign investment environment and attract and utilize foreign investment. It features 12 pragmatic measures and highlights three main initiatives.

First, by 2027, the Inner Mongolia Department of Commerce will annually allocate special funds for foreign economic and trade development to support key foreign investment projects that align with industrial policy guidelines, ensuring these projects are swiftly implemented.

Second, the plan focuses on attracting foreign investment projects within Inner Mongolia's eight major industrial clusters and 16 key industrial chains, employing innovative methods to draw in foreign capital.

Third, in conjunction with Inner Mongolia's integrity construction project, the plan aims to establish a robust mechanism for protecting the rights and interests of foreign investors. It will guide local governments to honor their policy commitments legally and protect the rights of foreign-invested enterprises in accordance with laws and regulations.

According to statistics, from January to April 2024, Inner Mongolia's actual use of foreign capital reached 770 million yuan ($105.48 million), a 49-percent year-on-year increase.

Additionally, 48 new foreign-invested enterprises were established in the region, a 26.3-percent year-on-year growth.