Улаанбаатар
Zamyn-Uud free economic zone opens for regular operation
Politics
Ulaanbaatar/MONTSAME/. Today, August 14, a ceremony has
taken place to inaugurate the ‘Zamyn-Uud Free Economic Zone’.
During the ceremony, Deputy Prime Minister S. Amarsaikhan noted, “Although the decision to establish the free zone was initially adopted in 2004, there have not been any substantial construction works. Therefore, we are working to settle obstacles in establishing the free economic zone and intensify its activities.” He also emphasized that a bill was formulated to amend the Law on Free Zones with aims to approve related State Policy and improve legal environment. “The bill is expected to be considered and approved during the autumn session of the Parliament this year. The free economic zone is believed to serve as a bridge among Mongolia, China and Eurasia.”
Within the framework of the project on infrastructure
improvement of Zamyn-Uud free economic zone, sets of works were completed
on 48 hectares with the soft loan of China. These include establishment of
water supply, sewerage, power plant, road and communication.
Favorable regulatory framework will enable increase in
exports and imports, development of factories, creation in new sectors of trade
and development and employment, boost in tourism and transit and logistics
activities, bring new technologies, trade facilitation and regional
development. For instance, the GDP is expected to grow by 10 percent over the
years 2022-2034 and the number of jobs will increase by 9,400 by 2026, 15
thousand by 2030 and 18 thousand by 2034.
According to the master plan for the Zamyn-Uud free economic
zone, 68 investors have been selected to operate activities on 101 hectares of
land, of which 7 hectares are for tourism, 47 hectares for manufacturing, 20
hectares for trade and services, 25 hectares for warehousing and logistics, and
1.4 hectares for gas stations.
Present at the ceremony, there were MP and Deputy Prime
Minister S. Amarsaikhan, MP and Chairperson of the Parliamentary Standing
Committee on Industrialization Policy B. Choijilsuren, Chairperson of the
Standing Committee on Economy J. Ganbaatar, MPs D. Sarangerel and T.
Enkhtuvshin, Minister of Environment and Tourism N. Urtnasan, Minister of
Energy N. Tavinbekh, Mongolia’s Ambassador to the People’s Republic of China T.
Badral and Ambassador of the People’s Republic of China to Mongolia Chai
Wenrui.
