D.Terbishdagva attends WEF’s ‘Summer Davos’


Mongolian Deputy Minister D.Terbishdagva joined hundreds of business and research leaders in the Chinese city of Tianjin for the annual World Economic Forum meeting known as ‘Summer Davos’, held from September 10 to 12.
D.Terbishdagva spoke to the attendees and said, “According to a World Bank study, Mongolia moved from socialist society organization to a multi-party democratic system with high economic growth. The mining sector is developing intensively and currently makes up 20 percent of Mongolia’s GDP, which is two times more than it has in the last ten years.
“Economic growth was 6.4 percent in 2010, 12.5 percent in 2013, and from 2013-2017 double-digit growth is expected to continue. The Mongolian population’s education, poverty and macroeconomic indicators, such as budget incomes and expenditures, have seen positive results.
“Even though Mongolia’s current economy is based on agriculture, in recent years, the industrial and mining sectors are intensively developing. Diversification in economic development, in industries like agriculture, mining, and telecommunication, should be a good foundation for sustainable development. Therefore, Mongolia is paying special attention to keeping up the rate of development, creating more resources and diversifying economic development.
“Though 2014 has been a very challenging year for us, we have preliminary estimates that suggest Mongolia will keep double-digit growth and increase economic growth by 11 percent. Moreover, economists see Mongolia’s economy as the one that will be rapidly increasing. Mongolia’s business environment has improved by four places in international rankings and its corruption index is now 11, but we will work towards bigger goals in the future.”

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Posted by on Sep 14 2014. Filed under Politics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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