U.KHURELSUKH: GOVERNMENT TO FOCUS TO STRENGTHEN ECONOMIC INDEPENDENCE

Ulaanbaatar /MONTSAME/ Mongolia Economic Forum 2018 began on March 28 with a consultative meeting between Government and private sector at the State House. At the beginning of the 8th forum, attendees are touching upon current state of economy of Mongolia, Three Pillar development policy and reform in tax law. Prime Minister U.Khurelsukh stated in his opening remarks that Government has taken many actions to stabilize macro economy, improve budget responsibility and restore investors trust. Three Pillar development policy was adopted at the Cabinet meeting in January, 2018 and is under implementation. Government will pay special attention to strengthen economic independence. Moreover, it is our priority objectives to fully provide our population with healthy food, petrol and energy and to free from debt burden to secure economic independence. “Government will fulfill actions targeted to reduce economic susceptibility on sharp fluctuation in raw materials price and dependency on mining. It is crucial to diversify economy, to have multi-pillar economy, to ensure coherence between food, agriculture, tourism and industrial fields and to enhance economic competitiveness. Government will realize the goal to make Mongolia a food exporter country through providing population with healthy and safe food and developing agricultural products and food production that meet demands of neighbor countries,” the Prime Minister added. This time economic forum highlights significance of strengthening political system that honors justice, discipline and responsibility, intensifying economic stable growth and upgrading people’s quality of life, providing with jobs. Speakers marked that the business confidence index of Mongolia reached 51.8 unit as of March, 2018, while it was 30 unit in 2016, reported by the Organization for Economic Cooperation and Development and it is an indication of economic environment improvement. At the forum, Chief of the Cabinet Secretariat G.Zandanshatar reported on how to fulfill Three Pillar development policy. Within the framework of the policy, Government is focusing attention to develop agriculture, tourism and infrastructure sectors. A policy to back private sector will be realized creating favorable working condition to them. Three Pillar development policy targets to enhance livelihood of citizens and the Government set objectives to create 263 thousand jobs by 2020. In addition causes leading to poverty will be defined and provide people with jobs. B.Batchimeg