Ch.Khashchuluun: This investment is not related with the development policy, thus it must be rejected.

Dec 18 • Economy, State Affairs • 361 Views • No Comments on Ch.Khashchuluun: This investment is not related with the development policy, thus it must be rejected.

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PhD KhashchuluunPhD Ch.Khashchuluun, Chairman of the National Development Innovation Committee (NDIC) shares his view towards 76 billion MNT allocated in the budget of 2010 as budget investment by MPs

– As of year 2010, the Mongolian economy will revive. There are three main reasons; First, world economy is recovering, which means good result for our economy, dependent to export. Second, domestic investment is increasing. Now, it is time to pursue policy to increase investment and spend budget in order to intensify and activate economy. Third, real estate and construction sectors, which worsen our economy, are booming. Once, construction sector recovers, workplace numbers will increase and private sector will flourish. Mining sector will contribute the biggest to the economy recovery. Only Oyu Tolgoi can attract huge investment in Mongolia.

Our expectation is confirmed by experts. Our committee predicts that economy will growth by 7,4%. This year economy has grown by 1,5%, but it will increase fivefold next year. IMF predicted our economy growth as 8%, which is almost close to our expectation.

-Our organization doesn’t connect with the budget directly. But, principally, I believe that “MP’s money” will disappear after election structure is renewed. I think ₮76 billion must be rejected because it doesn’t adapt with the development policy. As of today, there is no sovereign investment fund in aimags. Therefore, aimag’s investment will be made through their MPs. In the future, countryside investment shall be made in accordance with the development policy.

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