Bill on establishing Khushig Valley Free Economic Zone presented

2022-01-17 11:36:42

Ulaanbaatar /MONTSAME/. On January 14, Deputy Prime Minister S.Amarsaikhan presented a bill to Speaker G.Zandanshatar on a resolution for establishing a Free Economic Zone at Khushig Valley.

With an area of 1,000 hectares in the territory of Sergelen soum, Tuv aimag, the Free Economic Zone will be based around the new Chinggis Khaan International Airport.

By establishing the Khushig Valley Free Economic Zone:

• A specialized zone will be established for tourism, business, and financial operations through production and services, such as tourism services focusing on nomadic culture, betting games and associated services, cultural and creative industry, trades, and international bank and financing services,

• A zone will be created for export-oriented production and innovation based on science, advanced technology, and artificial intelligence,

• Opportunities will be created for the country to become ‘Transit Mongolia’ by utilizing the geographical advantage of being located between Asia and Europe in facilitating trade and transportation and creating more favorable conditions for investment.