“Regaining investors’ confidence is top priority for this Government”


2016-10-28 14:36 GMT+8

Head of the incumbent Government J.Erdenebat along with the cabinet members called a press conference on Thursday to report about the key actions taken by the Government in the first 100 days in power.

The population of Mongolia reached three million four thousand and two hundred by today, the Premier started his statement. In the past 100 days, Mongolia welcomed 28,938 newborns, said Mr J.Erdenebat.

He continued his speech about the newly launched “Paid Mothers” programme, which is offering monthly child care allowances to mothers with children aged 0-3 years. The government has also resolved to allow cash aid to single parents with three or more children. The government is pursuing “more of us means more power” principle, he went on.

Amidst the economic recession, the cabinet has revised 2016 Government Budget and the 2017 Government Budget assumptions in such a short period of time, along with the program for overcoming the economic difficulties and ensuring sustainble economic growth, to the Parliament.

In the past 100 days, tax accounts of 3,993 entities have been re-opened to enable them to compensate the social insurance and income tax payables.

The cabinet has also presented draft amendments to the law on companies’ income tax, designing tax discounts for companies with annual sales income of less than MNT 1.5 billion.

The economy faces numerous challenges as the foreign investments decline and businesses slow down. To restore the lost reputation of Mongolian economy is the top priority of this government, noted the Prime Minister. Therefore, the cabinet has set up a Council in charge of receiving and responding to the complaints and proposals of investors.
In order to practicing tangible support for livelihoods of families, especially, of students, the government directed the universities not to raise the tuition fee, and has established the Educational Loan Fund, which is capable of allowing tuition fee loans to 70 thousand students studying in tertiary education institutions.

This government decided to resume the mortgage loan for housing apartments, with an annual  interest rate of 8% and pre-payment that will depend on the size of the apartment.

In its first 100 days of operation, the Ministry of Health could decrease the retail price of the Harvoni medication for the patients with Hepatitis C, and launched the Whole Liver Mongolia Programme. The government is bearing all expenses of Mongolian citizens, who require the treatment of hemodialysis in the public hospitals.

Upon completing his statement, the Prime Minister answered questions from reporters. 

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