Ulaanbaatar, October 30, 2024 /MONTSAME/. The Government of Mongolia declared 2024 as the “Year of Regional Development” and reflected regional development policy in its Action Plan. Furthermore, the 2024 Regular Election of the State Great Khural of Mongolia was organized in enlarged constituencies on a regional basis for the first time. The “National Forum on Regional Development” was held on October 26, 2024, to define the development policies for seven regions, including Ulaanbaatar, Western, Khangai, Northern, Central, Gobi, and Eastern.

At the Forum under the theme “New Standard,” members of the State Great Khural, government officials, governors of the Capital City and aimags, public and private enterprises, business owners, experts, and researchers participated. The Forum facilitated joint and plenary sessions while also displaying exhibitions highlighting the unique features of each region.

Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai opened the Forum with a presentation “Regional Development Reform” and highlighted the purposes of implementing the “New Revival Policy,” its achievements, and future goals. The Premier underlined that the Government has introduced policies to accelerate regional development, bolster the participation of the private sector, facilitate favorable tax conditions, slow the centralization of the Capital City, expand economic development, and facilitate the conditions for regions to define development policies according to their characteristics. Prime Minister Oyun-Erdene noted that 14 mega projects have been formulated, which will be implemented in every region of Mongolia.

Prime Minister Oyun-Erdene noted the economic growth resulting from the “New Revival Policy,” with the GDP increasing from MNT 43.6 trillion in 2021 to MNT 70.4 trillion in 2023, with an expectation to reach MNT 79.2 trillion this year. He emphasized that with the successful implementation of the 14 mega projects, Mongolia’s GDP is expected to reach MNT 132.3 trillion by 2028.

Prime Minister Oyun-Erdene stated, “Looking ahead, three key transitions need to be addressed when defining the next strategy for Mongolia’s development. First, the regional impacts of the rapidly developing artificial intelligence and advanced technology transition. Second, green transitions of countries economically reliant on mining, similar to Mongolia. And third, human resources transition. These transitions are significant in the “Transition Economy.” Mongolia needs to define these transitions when planning regional development policies, and when implemented soundly, Mongolia will welcome development instead of chasing it.” 

Prime Minister Oyun-Erdene stated, “Additionally, the 2025 State Budget formulated by the Government is the first budget in line with Mongolia’s regional development concept, aiming at implementing regional development reforms.  In the past, Mongolia initiated around 450-500 new projects annually, with funding allocated across approximately 1,062 projects from each year’s budget. The 2025 State Budget draft includes financing for 640 new projects, 38 of which are infrastructure projects, marking a significant shift from the traditional approach of evenly dividing budget allocations.”

The Head of Government expressed confidence that the National Forum on Regional Development would yield results in the fields of governance, legal environment, economy, tax, population, social development policy, infrastructure, regional development, and transition.