Ulaanbaatar, March 27, 2026 /MONTSAME/. By Resolution No. 48 of 2026, the Government of Mongolia has decided to organize a nationwide deliberative polling, “Mongolians – Stewards of Their Wealth,” aimed at engaging citizens and building consensus on how to centralize revenues from natural resources into the National Wealth Fund and ensure their fair and equitable distribution to both current and future generations. The polling seeks to identify solutions for increasing the fund’s income, growing its assets, and ensuring proper and efficient spending.

The first stage of the Deliberative Polling will be conducted nationwide from March 27 to April 3, in cooperation with the National Statistics Office. The second stage will take place on April 11-12 at the State Palace in Ulaanbaatar. The sampling methodology has been developed and approved by the National Statistics Office in accordance with international standards. A total of 1,570 citizens will participate, including 740 from Ulaanbaatar and 830 from the rest of the nation. 

As part of the preparatory process, the following has been conducted to ensure a balance of information, increase awareness of issues surrounding the National Wealth Fund, and ensure diverse opinions are being reflected in the information on policy options: 

• Research Conference on “Current State and Challenges of the Wealth Fund” involving researchers, academics, and policymakers (March 17)
• Consultation with representatives of the mining sector (March 26)
• Consultation with participants from the banking and financial sector, as well as young researchers and scholars (March 27)

These discussions focused on the current situation, key challenges, potential improvements, and policy solutions related to the National Wealth Fund.

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“Mongolians-Stewards of Their Wealth” Deliberative Polling.

Within the framework of the National Wealth Fund, several key policy issues have attracted public attention. These include:

• Ways to balance current spending needs and long-term savings
• Ways to define fair mechanisms for distributing benefits to citizens
• Ways to establish governance and oversight systems that ensure transparency and accountability

In this context, the nationwide deliberative poll holds particular importance. It provides citizens with balanced information, an opportunity to discuss policy options, and a platform to express informed opinions on the management of Mongolia’s natural wealth. 

Notably, citizen participation in decisions that directly affect their lives is highly significant. The deliberative polling effectively places the decision-making process in the hands of citizens, creating an opportunity for their voices to be reflected at the policy level. This principle forms the foundation for citizens to be true owners of their wealth, to benefit equitably from natural resources, and ultimately to ensure that future generations live in a better society.

Moreover, capital- and return-based markets are gradually developing in Mongolia. The previous practice of the “1072 shares” gave us an understanding that citizens can directly benefit from national wealth and use their portion for their own needs. Within the framework of the National Wealth Fund reforms, if the system is implemented effectively, citizens will not only receive higher returns but also have a voice in their management and expenditure.

International experience highlights the importance of strong governance in managing natural resource wealth. The International Monetary Fund emphasizes that transparency and good governance are essential for fair and sustainable management of resource revenue. The World Bank stresses the importance of accountability and oversight in effective sovereign wealth fund management. Research shows that a lack of transparency in extractive industries increases risks of corruption and mismanagement, and studies by the OECD and others demonstrate that citizen participation improves policy quality and strengthens public trust in government.

Mongolia’s earlier experience of deliberative polling proved that, given the right information and a well-organized environment, citizens can ensure active and quality participation. Deliberative polling is not merely a process of collecting opinions; it is an important mechanism for strengthening the legitimacy of democracy and building consensus at the national level.

Thus, citizen participation is significant to the successful implementation of the National Wealth Fund, and its outcome will determine how Mongolia will manage its wealth in the future.

Researchers believe that investing the revenues accumulated in the National Wealth Fund in the primary needs of the people, such as health, education, and accommodation, through the Future Heritage Fund is an optimal solution. For instance, the returns of Norway’s sovereign wealth fund, “Government Pension Fund,” finance the country’s health, education, and infrastructure sectors, ensuring long-term sustainability.

Studies indicate that investment in policies aimed at improving human development, i.e., health, education, and quality of life, is the foundation of economic growth, social stability, and equality. Thus, a wealth fund serves not only as a savings tool but also as an investment mechanism aimed at improving citizens’ well-being.

All of this aligns with the fundamental principles of the “Tsegtsrekh” (“Orderly”) Movement, proposed by Prime Minister Zandanshatar Gombojav, forming the basis for translating economic growth into tangible improvements in citizens’ quality of life.

Citizens’ participation is crucial in the successful implementation of the National Wealth Fund. The results of the process will define how Mongolia will manage its wealth in the future, forming the conditions for citizens to become stewards of their wealth.

In other words, your voice as a citizen is of the utmost value in the “Mongolians—Stewards of Their Wealth” deliberative polling.

What is the significance of conducting a deliberative poll?

Nationwide deliberative polls were organized in Mongolia in 2017 and 2023, respectively. The government will now consult with citizens on the issues of increasing the income of the National Wealth Fund and distributing the benefits of natural resources more equally and fairly to the citizens.

Researchers consider deliberative polling to be a methodology for the practical implementation of deliberative democracy—a form of democracy where deliberation or discussion plays a primary role in the political decision-making process. In other words, this methodology is a democratic procedure that allows citizens, selected through random sampling, to express their positions after receiving balanced information on a given issue, asking questions of experts, and discussing the matter among themselves. It is characterized by the fact that citizens not only vote, but also participate in an information-based, deliberative decision-making process.

DETAILED EXPLANATION: Deliberative polling is a comprehensive activity to involve citizens in state affairs by obtaining opinions through specially prepared questions from citizens selected by random sampling. This occurs before decisions are made or regarding the implementation and compliance of existing decisions by decision-making authorities on issues affecting the public interest—including all levels of legislative and executive power, other public law entities authorized by law to issue administrative norms, and local self-governing bodies at all levels. Relevant legislation states that the purposes of a deliberative poll are: 1) To identify pressing socio-economic issues with the assistance of citizens, 2) To consult with citizens regarding the prioritization of the issue, methods for its resolution, and the decision to be made, 3) To provide knowledge and information to citizens and the public regarding pressing issues, and 4) To ensure the participation of citizens in state affairs as specified in the Constitution of Mongolia. (Law on Deliberative Polling)

Principles of the Wealth Fund

The 2019 amendments to the Constitution of Mongolia legislated the principle of citizens receiving equal and fair benefits from natural resources. However, as of today, this principle is not fully implemented, and the fact that citizens are only receiving a certain portion of the benefits remains a pressing issue.

Within the framework of the National Wealth Fund, MNT 6 trillion has been concentrated in the Future Heritage Fund and approximately MNT 1 trillion in the Accumulation Fund, with the gap between these funds reaching MNT 5 trillion.

Furthermore, although every citizen now has a nominal account in the Accumulation Fund, the average balance is MNT 175,000, which indicates that the principle of equal distribution of wealth benefits is being lost.

The "Mongolians – Stewards of Their Wealth" deliberative polling organized by the Government will focus on making the National Wealth Fund policy and the distribution of natural resource benefits more fair, transparent, and accessible based on citizen participation. This will be an important step toward strengthening the management system of natural resource income according to transparent and clearly established methodologies and regulations, ultimately making it beneficial for citizens in the long term. It will also create the opportunity to turn the implementation of the law related to Mineral Resource Royalties (AMNAT) into a reality.

The National Wealth Fund will establish the foundation of the system for distributing, accumulating, and spending income derived from natural resources. It will operate according to the principle that wealth is the property of the people and must take into account the public interests of both current and future generations.