MEF 2018: Government drafts investments of 113 projects

ZGM DAILY

2018-05-23 08:32 GMT+8

Mongolia Economic Forum-2018 commenced at the State Palace yesterday. The two day forum has attracted Members of the Government, State Secretaries of all ministries, Governors of aimags and other representatives. On the first day of the Forum, Manager of Investment Climate, Trade and Competitiveness Global Practice of the World Bank Group, Christine Qiang delivered a speech as a keynote speaker in the “Investment Policy: Global Trends and a New Path for Mongolia” panel discussion after the opening remarks of the Prime Minister Khurelsukh Ukhnaa.

Before the plenary session of the forum, Chief of Cabinet Secretariat Zandanshatar Gombojav noted in his remarks, “In terms of territory and mineral wealth, Mongolia is in the top 20 countries, but ranked 136 out of 140 countries of the world in Happy Planet Index. Every third person in Mongolia lives in poverty. We determined the development policy of Mongolia according to global trends and economies of the neighboring countries. We should establish fair and accountable governance, which is the most crucial factor for the investment environment.

Representatives of public and private sector gather for upcoming policies 

We will take advantage of the new technology, and combat bureaucracy and corruption. We will submit laws that will support the creators of national wealth. We will register citizens who are living in poverty and implement projects for them. Therefore, we will be able to achieve the Sustainable Development Goals in 2030. The Government of Mongolia drafted the 2018-2021 Investment Program. According to this document, a total of 113 projects will draw about MNT 38.3 trillion. These projects will increase economic growth to 15 percent and create 263 thousand jobs.”

Prime Minister Khurelsukh Ukhnaa emphasized, “It is important to discuss our previous mistakes and take immediate actions and implement the future projects. Political conflicts led us to economic downturn. It is time for us to end political conflicts and competitions and move towards the development of our country. It is almost too late for us to combine our efforts and streamline policy. We should lead the world with our competitive economy and the latest technological advancements. We should let the foreign investors know that Mongolia is an attractive investment. Mongolia is obliged to pursue international treaties and jurisdictions and we fulfill every agreement or promise that we made. Currently, trade, mining, and agricultural sector growth stands at 35 percent and the economy grew 6.1 percent. Our Government has paid back MNT 2.8 trillion debt since October 2017, which is a historic achievement. We pay close attention in creating a favorable business environment for private companies and investors and reduce economic risks”. 

Dashtseren.J

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