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B.Lkhagvasuren: The Bank of Mongolia fully supports foreign investment www.mongolbank.mn
The Prime Minister's morning meeting with the management of Bank of Mongolia, Ministry of Finance, and domestic commercial banks, and representatives of foreign investment banks and investment funds is ongoing.
In his opening remarks, the Prime Minister extended his heartfelt wishes for a happy Naadam Festival to the attendees and provided a brief overview of Mongolia's macroeconomic situation.
He stated, "COVID-19 has presented one of the toughest challenges for us. Our economy contracted by -4.7% during the pandemic, but it is now in a phase of recovery. In 2022, we achieved an economic growth rate of 4.8%, and we expect it to reach approximately 6% this year."
The Prime Minister emphasized, "Our country recently amended the Constitution, increasing the number of members in Parliament to 126. This is a significant step to ensure policy stability for investors. The introduction of a mixed electoral system will promote wider representation and gender equality, and provide greater opportunities for other political parties. Additionally, the Government of Mongolia is actively combating corruption and intensifying the digital transition to create a more transparent and business-friendly environment."
Published Date:2023-07-16
