Government announces 100 economic recovery projects

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Prime Minister L.Oyun-Erdene on Monday presented the government’s 100-day operations report, promising to carry out 100 projects.

The government plans to implement 100 projects to revive the economy after the pandemic, according to the prime minister. Of these, 50 are economic expansion projects, 25 are quality improvement projects, and 25 are governance reforms.

Noting that discussions will be held starting May 11 to reflect the views of citizens and businesses on these projects, the prime minister said that the government will openly carry out 100 projects to boost the country’s economy starting from 2021 to 2030, as this government will not be able to implement major projects.

“This government will not be able to implement even the first five projects. The Gashuunsukhait railway will be commissioned on July 1 next year. The Tavan Tolgoi power plant and oil refinery pipeline will be built. The government’s reserves are running out only with the implementation of the expansion of Erdeneburen hydropower plant, Thermal Power Plant No. 5 and No. 3, and the Ulaanbaatar-Darkhan road project. But these 100 projects must be implemented. The government does not need to do this alone,” the prime minister said.

“Coal accounts for 37 to 40 percent of Mongolia’s total exports. However, the price of coal is expected to fall by 33 percent from 300 million to 200 million USD from 2020 to 2040. China has said it will reduce its coal consumption by 50 percent by 2030. As the world moves in this direction, we only have 10 years to be businesslike. If we miss these 10 years, the question will arise as to whether Mongolia’s budget will be formed in the future. Therefore, it is important to start 100 projects. It is estimated that the successful implementation of the project will triple the existing economy and increase GDP per capita to from 8,000 to 10,000 USD,” he continued.

“The government decided to carry out major reforms in the mining sector in 100 days. The construction of Tavan Tolgoi coal washing plant is the beginning of this policy. Major construction projects, such as a copper concentrate plant, an oil refinery and a steel plant will be completed. In addition, a minerals exchange will be established to improve sales. The exchange will openly trade mineral resources of large deposits on the international market. Through the National Wealth Fund, in the Development Fund and Unified Savings Fund, the benefits of wealth will be distributed to citizens and businesses in the form of education, health, pensions, and small and medium business support. A bill in this area is being developed,” he added.

Prime Minister L.Oyun-Erdene underscored that art and culture must be within the scope of the creative industry, and said that agriculture, energy, information technology and creative industries will be developed.

“100 projects will focus on transportation, logistics and social reform. It will also address the issue of improving the quality of life, merging universities, reforming education, transitioning to a one-year health check-up system, and 25 improvements in governance,” he highlighted.

The minister also reported on bills on digital development. He noted, “Four bills on e-development will be submitted to Parliament. If these bills are passed, we will have an e-signature. There will also be legal opportunities to protect personal information. This means that the government will not be able to access personal information. Moreover, each citizen will have a single 10-digit code. There will be no registration or driver’s license numbers or health insurance certificate numbers.” 

Misheel Lkhasuren