Ulaanbaatar
Regional Development-Mongolian Economic Forum Kicks off
Economy
Ulaanbaatar, February 1, 2024 /MONTSAME/ The Regional Development-Mongolian Economic Forum kicked off today in the State House. Prime Minister of Mongolia L. Oyun-Erdene opened the forum. Half of the population is concentrated in the capital city, which occupies 0.3 percent of Mongolia's territory, and air pollution, traffic jams, and income inequality are all caused by the uneven development of urban and rural areas. This is a consequence of the failure to develop its economy regionally taking into consideration aimags’ population, geographical features, and resources, noted Prime Minister Oyun-Erdene in his opening remarks.
“Today the concept of
Regional Development is being discussed everywhere, and such a demand has never
arisen in our society. It is time to consider how we can develop together. We
can achieve the Regional Development, which has been slow for 20 years, in 2 or
4 years. It is possible that the state budget and investment which have been distributed
into 330 soums, can be shared into 7 regions. In this way, we can cut spending
and save a great amount of money. Therefore, the State Great Khural approved a
resolution supporting the concept of Regional Development, and the Government
has declared 2024 as the year to Support Regional Development. This will be the
beginning of a big development,” noted the Premier.
Minister L. Oyun-Erdene emphasized that the Government will develop a new concept of Regional Development based on the results of the conference, defining the economic priorities and implementing the multi-pillar economic expansion.
At the Forum the Minister of the Economy and Development Ch. Khurelbaatar reported on the economic situation of Mongolia and introduced the Regional Development Concept draft developed by the government to the participants of the forum. The Minister noted that the Mongolian economy has been growing for the last eight consecutive quarters and has grown by 6.8 percent as of 2023. This growth is considered high not only in the region but also in the world. The Forum will run for two days.
Translated by Sainzaya Davaajamts
