State Investment has increased 7 times

May 21 • Economy, News, State Affairs • 554 Views • No Comments on State Investment has increased 7 times

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“General Guideline to Register State Investment”, developed by the National Development and Innovation Committee, was approved by the resolution of the Government. Within the framework, the General Manager of the State Budget ordered to submit the report of investment, prioritized by their importance based on the project research and feasibility, to the National Development and Innovation Committee by February 5 every year.

According to the guideline, the National Development and Innovation Committee (Ch.Khashchuluun) is entitled to develop the investment program for 5 years, with annual modification basis, together with the Principle Development of the Mongolian Economy and Society to submit by April every year.
All Ministries and Agencies are ordered to submit the necessary information and reports to the National Development and Innovation Committee in order to strengthen the planning basis of the state investment program projects and improvement of implementation. Also Mongolbank, Financial Regulatory Committee, National Auditing Authority and National Statistics Committee were advised to do so.

Total investment has been increasing last 10 years and it equals to 25-35% of GDP. In 2005, the budget investment reached 90 billion MNT, but it has increased to 620 billion MNT in 2008, by 7 times

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