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The Mongolian Economy Forum 2016 started today at the Parliament House. Two day event gathers over 1500 representatives of the state, private sector, academia, civil society organizations and media. The forum of this year runs under the title “Lessons, challenges, solutions”. The Forum was opened by Ch.Saikhanbileg, Prime Minister of Mongolia.

In his opening remarks the PM highlighted that “The Mongolian economy facing difficulties not due to the economy but they way we think. We clearly understood that natural resources by itself shall not make the country wealthy. We learnt not to spend, but to save. If our manufacturers shall be called swingers, then who will be producing? We need to stand against and combat with the internal power that collapses Mongolia.  One Government can’t afford to restore what was destroyed by a single person. We can overcome this crisis if can work together with the responsible and accountable parties.  

Last four years we’ve seen that we can create if will raise funds. In 2012-2014 we’d built 700 km road. The power capacity was increased by 323 MW. Although the economy goes down, all information was disclosed, whether good or bad. Perhaps you’ve heard that Mongolia’s debt reached US$21 billion topping the global list. But even the state and any household gets loan. We’ve turned down foreign investors saying the Mongolia can move on by itself. If we had move Oyu Tolgoi on time, we’ve been twice better than now. If Tavantolgoi was finalized in 2012 when coal price was much higher, the coal exports were much better than today. We slipped down because of us. I would call everyone to get out from this devil’s circle where we pulling down each other”.

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