Yesterday, representatives discussed about future state of the Mongolian development during the “Development Region” meeting of the Democratic union. The meeting started with the speech of MP D.Odkhuu and he reported that areas of North-West borders (Bayan Ulgi and Uvs provinces) to the South region of the country are rich of oil commodity. Uvs, Zavkhan, Khovd, Bayankhongor, Gobi-Altai, Umnugobi, Dundgobi, Dornogobi, Khentii, Sukhbaatar and Dornod provinces are included in the areas with rich resources of oil.
The next step is to manufacture products and goods out of these oil commodities in order to reduce oil and petrol importing. D.Odkhuu also made plans to build railway roads across the country to link the West and the East. This railway project will ensure faster economic growth and will open ways to export coals to South Korea and Japan. B.Ganbat, Advisor of Construction and Urban Development Minister said that this project will secure Mongolia to reach its Macro Economic targets. The cost of the Railway project is calculated to be around USD 14 billion.


Prime Minister S.Batbold presented a draft resolution on the main direction of privatizing state properties in year 2010 – 2012 to D.Demberel, the Speaker of the State Great Khural. He stated a new concept of privatization, such as increasing the involvement of people and improving the activities and governance of state owned companies. Capital market and the Stock Exchange shall develop along with it. When privatizing state properties, they will be privatized through the Stock Exchange, securing transparency of the privatization.




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