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The director of IFC in charge of East Asia and Pacific Vivek Pathak’s speech on Mongolian economy and beyond attracted interests of the participants of Mongolian Economic Forum today. In his speech he highlighted that Mongolia is very much dependent from the mining products which is the area of the Government to focus on, bringing mix to the economy. He said that there is a high confidence for Mongolia’s prospects for 2016.

Copper price decline, slowdown of Chinese economy impacts to Mongolia to a great extent but the Oyu Tolgoi phase II investment which shall be finalized in 2^nd half of 2016 will bring more positive results including employment as well as attracting more foreign investment he said. Along with that the current inflation rate which is comparatively low also creates a very positive investment environment.

President of the Central Bank of Mongolia N.Zoljargal said that 2% inflation for Mongolia which is 95% dependent from the mining is indeed very good result which makes Mongolia to be the country with the lowest inflation in Asia. Ch.Khashchuluun, lecturer of the National University of Mongolia, economist addressing the outlook for 2016 said that the construction sector policy must be in the loop of the Government and Mongolia needs to implement without delay the Stand-By-Arrangement of the IFC. The participants of the forum emphasized that the current state of global economy and commodity price decline gives a warning to Mongolia.

Today’s session to continue with sub sessions covering mining, government, legal system and more.

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Монгол эхийг унших бол энд дарж орно уу