An international conference entitled “Competition and Corporate Responsibility” was held on Tuesday at the Ikh Tenger complex in Ulaanbaatar. The event was organized by a German NGO and other organizations.

Chief of the President’s Office D.Battulga opened the conference. He said Mongolia is embarking on a new phase in its development, primarily by exploiting the country’s abundant mineral resources.  He said the economy is growing at a rate of about 14.3 percent. But he said business competition in Mongolia is not good, because of poor legislation, onerous regulations, and bureaucracy.

On the other hand, he pointed out that, too often, private companies damage the environment solely for profits. He said companies need to be environmentally responsible, and recognize their obligations to the larger society.

After reading reports, Battulga concluded by saying that Mongolians need to take the time to solve their country’s problems. He added that the conference was a good opportunity to exchange ideas on the best ways to further development. And he underlined that justice is a key to democracy.

Conference participants discussed ways to increase corporate responsibility.