Ulaanbaatar
Bayanzurkh District Signs MoU to Attract Investment of USD 25 Million
Economy
Ulaanbaatar, July 3, 2023 /MONTSAME/. The “Development Map” policy document of Bayanzurkh District until 2030 was developed in corporation with citizens, academics, and senior officials of the district. In this Development Map, Bayanzurkh District has set major goals, proposing a Production Innovation Center and a Green Agro Park. On June 30, a Memorandum of Understanding on Cooperation was signed with China’s Zhongchen Guofa Technology Industry Company to attract the USD 25 million needed to implement these two projects. On the occasion, the Chairman of the Bayanzurkh District Citizen’s Representatives’ Khural, said, “Bayanzurkh District has a big ambition to be a district that is friendly to investors, supports entrepreneurs, and is connected with its citizens. We effectively collaborate and engage with representatives and members at all levels to make this ambition work. As a result, we have successfully taken the first step by attracting investment from a large Chinese company while participating in the World Export Forum. In the future, we will cooperate with international organizations and domestic and foreign organizations to foster development of the healthcare and educational organizations in the district.”
Breaking down of the USD 25 million investment:
USD 22 million will be spent on the Industrial Innovation Center
project. So far, this project’s Feasibility study has been completed. With the
implementation of the project, the development of start-up companies will be
intensified, creating opportunities for these companies to develop each of the
five operational areas and systems within their organization.
USD 3 million will be spent on the Green Agro Park project. So
far, the Feasibility study and other required estimates have been completed. With
the implementation of the project, Bayanzurkh district will enable its citizens
to access and consume healthy food.
Source: BZD
