CHIEF OF PRESIDENT’S OFFICE OPENS G7 FAST TRACK PARTNERSHIP CONFERENCE

Ulaanbaatar /MONTSAME/ Such a conference took place on November 18 at the Best Western Tuushin hotel bringing together representatives of Mongolia, Germany, Vietnam, Laos, Myanmar and Cambodia. A chief of the Presidential office P.Tsagaan delivered opening remarks at the conference. He greeted the gathered noting that the G7 Fast Track Partnership Conference has been co-organized by the Government of Mongolia, Extractive Industries Transparency Initiative and German Agency for International Cooperation (GIZ). "Germany is one of the countries that extended its support to Mongolia during the transition to democracy and a market economy in 1990s, and I express my appreciation to Germany for choosing Mongolia as a regional partner to share experience and support countries in the South East Asia," he said. "Mongolia’s private sector produces some 80 percent of the country’s GDP. Private property and private production was illegal 25 years ago. As part of the economic reforms the Government started privatizing the state-owned enterprises and we have no doubt that we made the right decision", he said.