MINING MINISTER MET AUTHORITIES OF INDUSTRIAL PARKS

Ulaanbaatar/MONTSAME/ Mining and Heavy Industry Minister D. Sumiyabazar held a meeting with authorities of industrial and technological parks in Mongolia. At the meeting held on November 30, the Minister said, “Parks are just on the start and currently impotent to attract investment. It is because of present difficulties in Mongolian economy and declines of interest of foreign and domestic investors. It indicates necessities to reconsider existing legislations and regulations in the operations of industrial and technological parks, analyze the regional conditions to develop parks and study foreign experience and technology.” “Moreover, the ministry is holding a principle to efficiently spend money from mining sector on developing other sectors evenly, in particular to make substantial changes in developing processing industries,” he pointed out. At the meeting, authorities of some industrial and technological parks expressed their opinions. O. Khurelbaatar, head of the project, ‘Bayangobi Industrial and Technological Park’ said that state organizations need to improve interrelations and stable environment of attracting investment and managing business needs to be created. R. Duurenbayar, chief of the office, ‘Emeelt Industrial and Technological Park’, said that tanneries operating in Ulaanbaatar city have to be get out from the city, locate them on one site. To do it, logistics must be resolved and a formulation of relevant Feasibility Study is almost complete. Firsthand, it requires investment worth MNT100 billion. During the meeting, D. Sumiyabazar handed over to ‘Darkhan Industrial and Technological park’ LLC a license of operation, issued under the Government’s resolution on August 23, 2017. To conclude the meeting, the Minister expressed his agreement with the opinion that state organizations must have interrelations and coherence. “Heavy industry needs to be harmonized with light industry. The light industry needs to be harmonized with SMEs. In this case, they can be tied under one hat. This issue will be arranged. We can attract confidence of investors if we have a unified system,” he said. M. Unurzul