Ulaanbaatar
Discussion takes place on economic dependence of Mongolia on minerals
Economy
Ulaanbaatar /MONTSAME/. An international
conference on “Economic Dependence of Mongolia on Minerals: Challenges and
Suggestions” is taking place at Tuushin Hotel.
In 2016, the Japan International Cooperation
Agency (JICA) launched a policy-making and proficiency-building project in Mongolia aimed at creating terms for sustainable
economic development free from the fluctuations and dependence of the mining
industry.
The Economic Research Institute, JICA Mongolia Office,
and the National University of Mongolia are co-organizing today’s conference on the research conducted
within the framework of the project, efficient management of mining income, and the
impact of direct foreign investment and agreements.
The Senior Advisor for
Natural Resources of JICA, Dr. Yoshitaka Hosoi, was a keynote speaker and gave
his speech on “Technical cooperation between Mongolia and Japan in the mining
field,” and the Deputy Minister of Mining and Heavy Industry, O. Batnairamdal, led the
discussion on “Establishing a Development Fund in Mongolia” during the breakout
session.
The meeting emphasized that the Wealth and Development
Funds need to be established in Mongolia following the law and ensuring rights to create terms
for sustainable economic development free from the fluctuations and dependence
of the mining industry.
