The three-day World Economic Forum has come to a close. Mongolia participates actively at the World Economic Forum where global political and business leaders and decision makers of public organizations meet at the beginning of each year. Parties discuss future perspectives and the year’s goals and express their stances over several significant meetings and discussions.

Discussion on Mongolia`s development strategy at Davos

The World Economic Forum (WEF) has always conducted a discussion on the development strategy of a particular country for past 44 years since it was first created. Last year WEF discussed the development strategy of Russia. This year the WEF conducted a discussion on “Scenarios of development strategies” for Mongolia. Mongolia, one of the world’s fastest-growing economic regions, is the focus of a World Economic Forum report.

During the discussion on development strategies of Mongolia, President Ts.Elbegdorj delivered a speech:

“We appreciate that WEF chose Mongolia to discuss its development issues this year. We will further consider the report and suggestions issued by the WEF. But Mongolia`s development will likely depend more on socio-economic trends than scenarios for Mongolia. We are undertaking a transition from a bigger state to smarter state. I believe that development scenarios for Mongolia forming a smarter state based on research, directed services and respect for the law will be more optimistic.”

The President also commented on the sufficient economic growth of Mongolia during his speech.

The Founder and Executive Chairman of the World Economic Forum, Professor Klaus Schwab said during a meeting with President Ts.Elbegdorj; “A previous World Economic Forum in Davos aimed to bring Mongolia to global focus but now Mongolia has become an active participant country. I am glad that Mongolia forms a space at WEF and is an active participant on anti-corruption issues, strong governance, water problems and responsible mining policy.”

During the meeting President Ts.Elbegdorj expressed an offer to host the World Economic Forum on East Asia in 2016 in Ulaanbaatar and Professor Klaus Schwab accepted the offer.