On the May 11, Prime Minister L.Oyun-Erdene held a meeting with representatives of entrepreneurs.
At the meeting, the PM briefed on works to recover the economy and society and exchanged views on how to cooperate within the framework of public-private partnership.
The Government plans to implement 100+ projects to revive the economy and improve the quality of life after the pandemic. In order to make them actual works, the PM said that the private sector would be supported in all possible ways. However, it is impossible for the Government to be responsible for everything.
President of the Mongolian National Chamber of Commerce and Industry O.Amartuvshin said, “It is necessary to establish the Ministry for Economy and Trade. The World Bank forecast that the economy of China will grow the most. One percent growth in China’s economy will affect Mongolia’s economy by 0.83 percent. Enterprises might pay attention to make the growth a big opportunity. Due to the pandemic, 27,000 entities have stopped their operations. It is necessary to re-consider the amount of value added tax and social insurance premiums. There is also a need to reduce the number of around 1,000 permissions and let the professional associations be responsible for them. Let’s recover the economy, attract investment and develop the country together by encouraging all enterprises.”