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GOVERNMENT TO FOCUS ATTENTION ON SUSTAINABLE INVESTMENT ENVIRONMENT OF PRIVATE SECTOR


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GOVERNMENT TO FOCUS ATTENTION ON SUSTAINABLE INVESTMENT ENVIRONMENT OF PRIVATE SECTOR

31 Aug, 2020
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On August 25, some members of the Cabinet and Ministers headed by Deputy Prime Minister Ya.Sodbaatar and Chief of the Cabinet Secretariat of the Government L.Oyun-Erdene held a meeting with business delegation at the Mongolian National Chamber of Commerce and Industry (MNCCI).

 

At the start of the meeting, Deputy PM Ya.Sodbaatar conveyed greetings of the Prime Minister and emphasized Government’s intent to exchange views with entrepreneurs on its Action Program for 2020-2024 during the meeting.

 

In his remarks, Chief of the Cabinet Secretariat of the Government L.Oyun-Erdene highlighted that the Government is giving significance to 8-12 year long-term development goals. As a result, development programs will give their yields alongside major changes.

 

Underlining that the Government’s second largest goal is to draw investment, the Chief of the Cabinet Secretariat said that the funding would be used for large-scale projects, programs, infrastructure works and upgrade of business legal environment for private sector promotion. The Government will encourage wealth creators, foreign and domestic investment and maintain a policy to partner as much as possible. "In terms of it, we are heading towards a policy reform that aims to create sustainable business environment." He then informed that a unit in charge of foreign invested projects and programs is to be established at the Cabinet Secretariat of the Government.

 

The Government would also focus attention on the areas of tourism, transportation, intellectual information technology, innovation-based production, agriculture, especially, heavy and medium-scale industry as well as electricity export in the coming year. In doing so, more significance will be given to education sector, vocational training and production and working force required for the next 10-20 years will be prepared within it, noted Mr.Oyun-Erdene. 

 

“On the other hand, construction works will be carried out in accordance with regional development vision. There are 120 construction projects and programs and 70 percent of them have feasibility studies so far. Since it is impossible for government to fulfill all the works with state budget, national-level goals will be accomplished with sustainable investment of private sector,” said Chief of the Cabinet Secretariat of the Government L.Oyun-Erdene.

 

 

Ministers of Road and Transport, Construction and Urban Planning, Food, Agriculture and Light Industry, Mining and Heavy Industry attended the meeting, hearing business owners' position, views and suggestions. And nearly 130 business people and delegates from Business Council of Mongolia, MNCCI, Ulaanbaatar Chamber of Commerce, business professional associations and NGOs took part in the event.

 

 

Source: https://montsame.mn/en/read/234584


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