Speaker meets ADP president

Ulaanbaatar /MONTSAME/ The Speaker of parliament Z.Enkhbold met Tuesday a delegation led by Mr Takehiko Nakao, the ADB President and Chairperson of ADB's Board of Directors. He has given to the delegation a brief about the 2013 spring session of the State Great Khural. The parliamentary spring session discussed and approved issues on keeping socio-economic stability, intensifying the great construction works and on the legal reforms, the Speaker said. The session also focused attention to refining upon legal environment for stocks, mortgage loan, construction, infrastructure and developing small- and middle-sized productions. It intends to adopt primary laws on economics including the package law on land, bills on tax environment and fund of mineral income as well. Mr Enkhbold underlined that the ADB has implemented many projects and programmes for the socio-economic sector and has become the biggest partner of Mongolia. For example, the ADB has realized 50 projects with loans of USD 954.6 million, and 12 projects with non-refundable aid of USD 172.2 million. The Speaker noted that the Mongolia’s government has worked out the investment plan for 2014-2018, and submitted it to parliament. By this plan, a list of projects to be financed with the state budget, loans, assistance and concession will be adopted, he added. In response, Mr Nakao expressed thanks to Mongolia for appreciating the ADB’s support and assistance and for attaching a great importance to the cooperation, and then pledged to seek opportunities of increasing financial aid and support for Mongolia. He supported the Speaker’s proposal on widening the collaboration in the private sector, emphasizing an importance of certainty and stability of legal environment for this sector. The Speaker said that the forthcoming autumn session of parliament is expected to amend the laws on foreign investment and others. He hopes that the environment for foreign investors will improve by altering these laws.