The Government of Mongolia invited all its foreign partners in the last 20 years for a meeting on March 4, which was attended by Ministers, Ambassadors to Mongolia, Permanent Representatives of international organizations, and some 100 representatives of foreign organizations working for Mongolia’s development.

The meeting was intended to mark the end of the transition period and the beginning of a new stage of development. Mongolia has asked for and received grants and soft loans from donor countries and organization since 1992 but now it would need less of both, with its economy set to grow stronger. However, foreign partners were told that their advice and suggestions on proper use of natural resources would be welcome.

The meeting had three main themes: new financial opportunities, defining mid-term priorities of development that can be financed with revenue from resources, and ensuring good governance. As far as the first is concerned, 15 billion shares of the Tavantolgoi deposit will be issued to citizens and economic entities; four foreign banks have been selected to arrange for raising capital in the international market for Erdenes Tavantolgoi: and foreign partners will soon be selected for developing the deposit after considering who will be most suitable for transit transportation, port utilization, and advance payment. The Government has initiated large programs and projects that would benefit the domestic market in the long term, such as construction of 100,000 household apartments  new auto roads, new railway, and an industry complex in Sainshand.

Chief of the Cabinet Secretariat Ch.Khurelbaatar spoke on efforts being made to streamline work in Government offices.

Among Ambassadors who spoke were Wang Shyaolun of China and Asi Arar of Turkey.