The 26th regular meeting of the Citizen’s Representative Council has held today. A document on the strategy of economic development in Ulaanbaatar, and the establishment of a city development corporation and approval of its charter were discussed and approved during the meeting.
 
The Development Corporation of Ulaanbaatar Co., Ltd will be founded to implement projects and programs under the economic development strategy of the capital, in joint cooperation with the private sector; to elaborate on development trends in Ulaanbaatar through 2030; and to review the general plan for development in Ulaanbaatar though 2020, which was approved under parliamentary Resolution No.23 in 2013.    

In addition to its own revenue, Development Corporation of Ulaanbaatar Co., Ltd will contribute to the city's development fund through donations from foreign and domestic companies, investment loans, revenue from the trading of securities of the company in domestic and foreign markets, and through funds allocated from the state and capital budgets for investment in projects.