The 6th Mongolia Economic Forum is being carried out at a time when the country is facing an economic crisis and foreign direct investment has gone, in addition to revenue from the mining sector failing to meet expectations.
In comparison with previous years, the forum is being organized under very modest circumstances, and the main topic was how to bring back foreign investment which has left Mongolia.
It was evident that many of the forum's participants have lost their faith and trust in the state, and representatives of the private sector are also dissatisfied.
Many participants complained that the instability of the state is negatively influencing the economy. Head of the Cabinet Secretariat S. Bayartsogt pointed out that these problems stem from the Constitution of Mongolia. President of the Mongolian National Chamber of Commerce and Industry B. Lkhagvajav stressed that the participation of the private sector is crucial to making changes to the constitution.
Forum attendees asked the representatives of Parliament and Government who sat on the panel stage, if those who represent the state do not believe in the state, how can it win the public's trust? The question went unanswered.
Fresh topics were discussed at this year's forum. The presentation made by Minister M.Enkhsaikhan which was given during the working lunch session drew an attentive audience. He gave a presentation on “Super Cycles: Rich and Poor”.
Another topic of interest was discussion of the tax law and pressure from the State put on the business sector. According to Chairman of the Investigation Department of the National Anti-Corruption Agency U.Enkhtur, the organization investigates almost 300 people in tax cases each year. Ten percent of these cases are considered financial crime.
Disputes have arisen due to these issues, but they have been related to the Expert of the Court Research Institute. An investigator appoints an expert to a case, but critics debate whether these appointed experts meet all criteria and requirements to be objective towards the claimants and defendants.
U.Enkhtur and state prosecutor Erdenebat assured the forum's attendees that everything is taking place according to the law. However, MP Ts. Oyungerel stressed that she is very disappointed in the work of the experts and that they have dragged down the reputation of Mongolia. She stressed that because of this, the investments made in Mongolia are passing the nation by.
The MP added, speaking frankly, that she was very doubtful that there are professionals now working for the Court Research Institute and General Taxation Authority.