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Economy / Mongolia News / Others / August 9, 2016

Prime Minister calls for attracting more investment from home and abroad

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Prime Minister J.Erdenebat gave directions to the Ministers at the regular meeting on Wednesday, on attaching more focus to the attracting of more investment from inside and outside to every sector rather than receiving loans and aid.

Addressing the Ministers, the head of government gave obligation to prioritize attracting domestic and foreign investment into each respective sector rather than relying on credits and assistance, to attach importance to utilizing the national currency in commerce and all state procurements, and to monitor the implementation of laws and regulations in regards to these.

Moreover, in regard to the drawback in the allowance of the children’s cash benefits due to the lapse of financing of the benefits in the 2016 State Budget, the PM also assigned the related members of cabinet on forwarding the inclusion of the possible source of finance in the 2016 State Budget Clarifications. The working group on developing the State Budget Clarifications have commenced their work just recently.

Furthermore, the Minister of Road and Transport was give obligation to learn ways to improve immediacy and access of the 8% and 5% mortgage loan for housing apartments, and to present them to the Cabinet. The Premier also assigned the Minister of Justice and Domestic Affairs to evaluate and monitor over the cash flow outside, organize further investigation for the suspicious withdrawal of cash, and to take responsive actions toward the associated officials.


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