Mongolia Economic Forum

The Mongolia Economic Forum is a Mongolian non-political and non-governmental organization which is designed to provide a platform for constructive discussion among key stakeholders, including Government, business, civil society and academia, with added input from potential foreign investors and donors. The Forum has a membership.

An annual conference of the Forum invites leaders and representatives from public, private sectors, academics and civil society to discuss economical and social issues impacting the development of Mongolia, and seeks ways to implement development policies in the country.

History

The inaugural Mongolia Economic Forum was held in February 8–9, 2010^[1] under auspices of the Prime Minister of Mongolia with active support of the President of Mongolia and the Parliament of Mongolia. The forum was organized under the motto “Together We Can”. During the two-day event, government officials, private sector actors, academics, foreign investors, donors, and civil society members discussed issues critical to the country's growth, including capital markets, competitiveness, state registration reform, budgetary reform, mining sector development, environment and green economy. Following the success of the first Mongolia Economic Forum in 2010, the MEF NGO is hosting the Mongolia Economic Forum 2011 to provide a creative platform for constructive discussion among key stakeholders, including Government, business, civil society and academia, with added input from potential foreign investors and donors.

The 2011 Mongolia Economic Forum is scheduled to be held in 2–3 March 2011.

Organization

Headquartered in Ulaanbaatar, Mongolia, the Mongolian Economic Forum is a non-governmental organization and was established in 2010. The NGO's highest governing body is the Board of Directors.

Chairman of the Mongolia Economic Forum NGO is S. Batbold, the Prime Minister of Mongolia. General Secretary of the Mongolia Economic Forum NGO is Ch. Ganhuyag, Deputy Minister of Finance. Mongolia Economic Forum NGO's highest governing body is the Board of Directors. The members of the Board of Directors include P. Tsagaan, Advisor to the President of Mongolia; D. Jargalsaikhan, CEO of Xac Leasing LLC; D. Zorig, Minister of Mineral Resources and Energy; S. Bayartsogt, Minister of Finance; S. Saikhanbileg, Member of Parliament; D. Enkhbat, Member of Parliament; S. Oyun, Member of Parliament; Yo. Otgonbayar, Minister of Education, Culture and Science; J. Zandanshatar, Minister of Foreign Affairs; Ch. Khashchuluun, Chairman of National Development and Innovation Committee and D. Tsogtbaatar, State Secretary of the Minister of Foreign Affairs.

Activities

The Inaugural Mongolia Economic Forum was held in 2010 and it brought together business leaders, politicians, representatives from academia, NGOs and civil society. The forum provided a platform for its speakers, participants to discuss critical issues tied to the development of Mongolia. The following is the briefing on each discussion panel: Results of discussion (MEF 2010)

Budget Reform:

• Mongolia has one of the most transparent budgets and planning process
• Parliament approved sustainable budget law
• Decentralization of the budget
• Increase in budget income to benefit all of the Mongolians
• Local authorities will have expanded power on their budget decision making

Development of the Mining Sector:

• Successful IPO listing of Mongolia Mining Corporation, Hunnu Coal and others
• Framework for the development of TT in place and selection of operators and contract miners underway
• Approved state policy on railway transportation
• Established the legal framework for the Sainshand Industrial Complex
• Various mining and infrastructure projects initiated

Environment and Green Economy:

• The cabinet of Mongolia held its meeting in Gobi desert for the first time
• Desertification prevention program approved and implementation initiated
• Widespread support for renewable energy
• Water program action plan approved
• Mining licenses are being rationalized and legislation on Water Source Protection approved
• Smokeless Ulaanbaatar program approved

State Registration Reform:

• The cabinet signed MOU with the Institute for Liberty and Democracy
• Population and housing census – necessary steps for equal wealth distribution
• Reform of public registration system and investment in upgrade
• Reduced the number of permits and signatures.

Capital Markets Reform:

• Net value of listed companies reached 1 billion USD
• Selection of qualified international management team to run MSE (interests from LSE, KSE, Deutsche Borse, Mosdaq/Nasdaq)
• Mongolian companies listed on HK exchange
• TOP-20 index reached 15,000 points
• Pension reform planned
• Survey of foreign listed companies

Competitiveness:

• Established the Economic Policy and Competitiveness Research Center with the initiative of the private sector. The Members include MCS Group, Just Group, TDB, Newcom Group, Mobicom Corporation, MAK, and Chinggis International Group.
• Co-organized "Mongolia with Competitive Advantage" open forum in July 5–6, 2010 with IMD World Competitiveness Center headquartered in Switzerland.
• Signed MOU between Economic Policy and Competitiveness Research Center and IMD World Competitiveness Center
• Mongolia's first Competitiveness Report was issued
• Fair Minerals Development Forum in cooperation with the World Economic Forum and Office of the President of Mongolia and Economic Policy and Competitiveness Research Center
• Co-organized Mongolia Economic Forum 2011

Participants and Keynote speakers

The inaugural forum opened with keynote remarks by Ts. Tsakhiagiin Elbegdorj, President of Mongolia. About the forum, he said in his remark:

I have just participated in Davos World Economic Forum. In last 40 years world’s most important policies and solutions have been started to be discussed at Davos with own participation of people by the volunteer basis with informal structures as attracting most interest. I understand that Mongolia Economic Forum that is being organized today for the first time has also such a purpose. Here is from one side Government, from another side representation of civil society and NGO-s, businessmen and citizen have come and express their opinion freely. A great beginning is being laid out by this forum for main proposals discussed here to reach public through the media, a direction being formed for solutions for the major challenges we face today, and many main political and economical problems in consequence become official and then resolved. This forum should be organized every year

Prime Minister S. Batbold and President Ts. Tsakhiagiin Elbegdorj both stated that the Forum’s primary objective is: “to build consensus around defining sustainable economic development policies and addressing pressing challenges faced by key economic sectors of Mongolia among policy makers, business communities, academia, and the civil society.”

The panel sessions were moderated and participated by well-known business leaders, politicians, civil society leaders in Mongolia. Panel participants include, to name a few, S. Bayartsogt, Minister of Finance, D. Sugar, Chairman of the State Property Committee, B. Bold, CEO of Newcom Group, Alisher Ali Djumanov, CEO of Eurasia Capital, Ganhuyag Ch Hutagt, CEO of Tenger Financial Group, Philipp Ter Woort, Country Director of EBRD, B. Unenbat, former President of Mongolbank etc.

Guest of Honor

Hernando de Soto, the President of the Institute for Liberty and Democracy, was invited to the Forum as the first Guest of Honor. The Peruvian Economist, Hernando de Soto, read a lecture “Significance of registration structure, validation of property rights is foundation of progress”. According to Hernando de Soto, only 20 per cent of property in Mongolians has official registrations. It means that a 7,5 billion USD worth of property is stuck without registration, validation and is outside of the economy.

In the speech, de Soto laid out what he described as five necessities to achieve economic success: rule of law, trust, respect for nature and man and the rule of law, value is not only related to labor but also documentation, and political will.^[2]

Sponsors

Sponsors for the Forum in 2010 include:

• World Bank
• Golomt Bank
• Eurasia Capital
• Hogan Lovells
• Mobicom Corporation
• Monnis International
• MCS Group
• Newcom Group
• Oyuny Undra
• Oyu Tolgoi LLC
• Petrovis
• Tenger Financial Group
• Khan Bank
• Xac Bank

References

External links

• Official website