On April 20, the Mayor’s office and National Chamber of Commerce and Industry joined and held UB International Investment and Partnership Forum (UBIIPF) under New Revival-Ulaanbaatar slogan. It is held at the Central Administrative complex of and over 380 representatives of government officials, diplomats, and foreign and domestic enterprises participated. The forum aimed to stimulate the economy of Ulaanbaatar, attract foreign and domestic investors, and present major projects, programs, and developments.

 At the forum, Board Director of Premium group A.Gankhuyag. He said, “Although 70 percent of all businesses concentrate in Ulaanbaatar, only 33 percent of the state budget is spent here. Therefore, it is full of possibilities to invest and develop. The nearest example of a successful development and investment project is the new international airport. Ulaanbaatar is under dire need of funding and the investment possibilities rise with it.”

 During the forum, topics of ‘Selbe’ project, project of Bicycle and Scooter, building material production-technology park in Nalaikh, ‘Transport and logistics center of the eastern region of the city’ project and housing projects planned to be implemented in the capital were presented. Also, they presented the activities and preparations for the East Asian Youth Sports Games to be held in Ulaanbaatar.

 According to First Deputy Head of Economy of the Mayor’s office J.Sandagsuren, if the construction of the sky ride to be implemented at the contractual level, then the feasibility study of the light train is ready to be approved. These were openly presented to the citizens and discussed with local and foreign investors. It is believed that the open presentation of major projects related to the capital city would attract the attention of domestic and foreign investors.

 Also, Prime Minister L.Oyun-erdene gave a speech at the forum. He presented the current social and economic situation of the country, possible solutions for the development of the capital, and the government’s support for Ulaanbaatar.
Currently the amount of land per person is high in the world. About 48 percent of all citizens live in 0.3 percent of the total land. The total lost opportunity cost of congestion will reach 10 percent of GDP in 2024. He said that the citizens of Ulaanbaatar spend 2.5 hours a day and 35 days a year in traffic jams, and mentioned the measures implemented by the
government to solve all this.

 The government began to carry out the “Ring Road Project or Linkless Road Connections”, the “Selbe” project, and the reform of public transport. In particular, the premier presented a statistic that a construction of 225 km of roads are needed to connect the 1,213 km of roads that are currently used in the capital and that it should be done in the near future. The unplanned and unconnected roads are one of the main reasons for congestion and therefore it should be connected. All forms of financing, including public and private partnerships, will be used for the implementation of this development.