Turning problems of Ulaanbaatar city into business opportunities

2019-08-21 13:45:39

Ulaanbaatar /MONTSAME/. On August 20, to the guests of the Boao forum, Mayor of Ulaanbaatar city S.Amarsaikhan introduced projects open for execution in cooperation with UB, the city developing as an economic, social, business and financial hub of Mongolia. Emphasizing that 46 percent of the total population of Mongolia is residing in Ulaanbaatar city, which accounts for 64.7 percent of the country’s GDP.

“With a view to create sustainable development, favorable living conditions and business and investment environment, the Ulaanbaatar city has formulated a new concept ‘CITY’. The rapid population growth demands creation of new residential areas. Therefore, we are planning to resettle the residents to new cities Aero and Maidar. In addition, apartment complexes for 22 thousand families are projected to be built in eight areas around the city. In order to implement large-scale projects with business entities, Ulaanbaatar Development Corporation and Ulaanbaatar Investment management companies are founded, allowing for the implementation of necessary projects with private companies when problems arise in state and Ulaanbaatar city budgets”. 

He then underlined that the challenges encountered by the Ulaanbaatar city, such as air pollution, unemployment, shortage of schools and kindergartens and health services, traffic congestion, demand of re-planning, green space and landscaping and others could be new opportunities of business.