Ulaanbaatar
‘State Housing Corporation of Mongolia’ State-owned enterprise restructured to be LLC
Politics
Ulaanbaatar/MONTSAME/ At its regular meeting on October 31, the Cabinet made a decision to restructure ‘State Housing Corporation of Mongolia’ State-owned Enterprise into State-owned Limited Liability Company (LLC) with a purpose to improve its accountability, control system, management and efficiency. The company will have a Board of Directors that will implement a corporate governance, it will be possible to oversee executive management team and make a joint decision.
It had
implemented several housing projects ‘Buyant-Ukhaa-1’, ‘Buyant-Ukhaa-2’, ‘Apartments
for 1000 households in every province’ and ‘State rental housing program’ in
2013-2016. In the process of implementing the projects, there were some
complications, including authorities made decisions with conflict of interest under
political and other influences, financing for implementing the projects was
insufficient, possible risks were not assessed, incomes were not accurately
expensed and control system was lost. Due to such problems, currently it has
had debts over MNT370 billion.
