Economic Forum kicks off today
The Mongolian Economic Forum kicked off today and will continue until May 22, as the forum convenes leaders and representatives from public, private sectors, academics and civil society to discuss economic and social issues impacting the development of Mongolia...
The Mongolian Economic Forum kicked off today and will continue until May 22, as the forum convenes leaders and representatives from public, private sectors, academics and civil society to discuss economic and social issues impacting the development of Mongolia.
Held annually since 2010, with the exception of 2017 when the forum was postponed due to the Presidential election, the forum is designed to provide a platform for constructive discussion among key stakeholders, including government, business, civil society and academia, with added input from potential foreign investors and donors.
The organizers, including the Mongolian National Chamber of Commerce and Industry (MNCCI), have underlined that this year’s forum will highlight the importance of privatepublic cooperation and will cover a myriad of topics both political and economic.
In addition, this year’s forum will seek to incorporate more technological mediums outside of the major television broadcasts. For instance, CEO of Ard Financial Holdings Ch.Gankhuyag reported that participants of the forum will be able to send in questions and receive answers through a
designated app.
After an opening speech by Prime Minister U.Khurelsukh, a World Bank representative will put on a keynote speech on “International trends and Mongolia’s opportunity”.
The forum will host 12 sessions on the following topics:
1. Cabinet’s Trilateral Development Policy 2. Policy to develop economy by regions 3. Welfare to productivity 4. Development of Agriculture - Investment 5. Technological shift Blockchain 6. Current state of finance and securities markets and the future 7. Responsible mining – inclusive growth 8. Mega projects and state-owned corporations, privatization policies
9. Tourism - Aviation 10. Our values, morals and society’s consensus 11. Ulaanbaatar’s economy - Investment 12. Mongolia’s branding
The forum will conclude with an agreement on investment and cooperation between the relevant parties in addition to memorandums of understanding.
“This year’s forum will be geared towards discussing ways to overcome the current difficulties in our economy. We will openly discuss both the advantages and shortcomings of the current policies in place,” said U.Khurelsukh.
The prime minister said that the main target focus of Cabinet is the one million lower-income class individuals and the 122,000 actively seeking employment. He added that Cabinet will work closely with the private sector in order to decrease unemployment.
“We will work to support and protect the businesses that pay their taxes and provide employment. This is how we will help facilitate 122,000 into jobs and help create income,” U.Khurelsukh added.
He added that since 2017, Mongolia has fallen into a 2.8 trillion MNT debt and interest payments, which has prevented the government from increasing the salaries of teachers and doctors.
“We are introducing Cabinet’s proposal to initiate and begin implementing mega projects to the Mongolian People’s Party caucus in Parliament on the day that the forum starts. Cabinet believes that we need to get the ball rolling on Tavan Tolgoi as soon as possible and if Parliament does not want to implement the project, they must be clear on their stance,” U.Khurelsukh added.