PM AT ECONOMIC FORUM

Ulaanbaatar /MONTSAME/ The Mongolian Economic Forum kicked off in the State Residence on Monday. Opening the two-day event, the Prime Minister N.Altankhuyag delivered a speech, mostly focusing on industrialization projects of the Government aimed at increased domestic production. “Last year, the forum discussed the creation of unique Mongolian brands, but this time it will emphasize production in Mongolia,” he said. “Today, the nation is rarely manufacturing final products, importing 88% of commodities, and mostly exporting raw materials, in turn. This wrong traffic must be fixed in near time, in order to avoid an economic deadlock”. “The Government for Reforms has announced this year to be year of production in Mongolia, when the Government will be consistent in implementing policies to eliminate any bureaucracy and burdens ahead of doing business,” the PM noted. “Unless we learn manufacturing, we will stay forever like a circus animal in a cage”. Mr Altankhuyag also highlighted increased domestic production as the only way to get out from that “cage”. After that, the Premier briefed on projects planned this year by his Government, noting that the Government is planning to spend MNT one trillion for its industrialization programs, launching ventures for building materials, leather and woven clothes, food industry and mining. He then talked about housing and construction projects, including those of thousand apartments in every province.