Mongolia Set to Establish World Class Mining Potential in Coming Years

Posted by Alex Deluce

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It was announced on June 24th that the Mongolian People’s Party would retain a strong parliament majority. The election result marks the first time a single party has retained an absolute majority in consecutive elections.

This is excellent news for Mongolian mining investors as the Mongolian Prime Minister Ukhnaa Khurelsukh pledged to put more considerable effort to promote national development and improve livelihoods for the citizens of Mongolia. 

On Thursday the prime minister emphasized on four goals to be achieved in the coming four years with one notable goal which was to: “Increase and diversify its exports”.

“The way for the Mongolian economy to become debt-free, competitive, and an active participant in regional trade is to increase exports,” he said. 

“To achieve the goal to become an exporter, Mongolia will provide policy support to domestic producers, develop mining, food and agriculture, organic food production, energy, tourism, creative industries, information technology, transportation and logistics as priority sectors, and strengthen the partnership between the public and private sectors,” the prime minister said. “In particular, we will work hard to support agriculture, meet domestic food demand, and become a food exporter.” CLICK for complete article