Ulaanbaatar
National Wealth Fund Law to be Presented to State Great Khural
Politics
Ulaanbaatar, March 21, 2024 /MONTSAME/ At the regular session of the Cabinet on March 20, D. Amarbayasgalan, Minister of Mongolia and Head of the Cabinet Secretariat presented the draft law on the National Wealth Fund. Following the presentation, the Cabinet decided to submit the draft law to the State Great Khural for consideration.
The proposed legislation aimed at establishing a National
Wealth Fund to ensure the equitable and sustainable distribution of income
generated from Mongolia’s subsoil resources to all citizens, both present and
future.
The draft law outlines the sources of revenue for the
National Wealth Fund, its designated purposes, and the structure for managing
its assets. Additionally, it regulates the control of the fund activities and reporting.
The establishment of the National Wealth Fund, comprised of
income from Mongolia’s natural resources, including underground resources will
ensure the Amendments to the Constitution to be realized.
