The Mongolia Economic Forum, inaugurated by President Ts.Elbegdorj on Monday and marked by a presentation from Hernando De Soto, ended yesterday, after discussing budgetary reform, development of the mining sector, problems facing the environment, adoption of a green economy, reforms in the registration system, overhaul of the financial market, and Improving competiveness.

Some important issues were discussed in detail at special meetings where participants included officials, researchers, and representatives of the private sector and the civil society. These meetings were closed to journalists. Prime Minister S.Batbold explained that this was the practice followed at international conferences and was only to help participants express their views freely. Some attendees agreed, saying many in decision-making and responsible positions feel inhibited at such open discussions if media people are present to report what they say. Most of them also expressed satisfaction that both the contents and the quality of the discussions were profitable.

The Government spent MNT50 million on the conference, with banks and companies bearing the rest of the expenses. After Minister for Minerals and Energy D.Zorigt, Finance Minister S.Bayartsogt, and the President’s advisers, P.Tsagaan and Ch.Gankhuyag, had suggested such a meeting at the end of last year a working group was set up to make arrangements.  Gankhuyag, who worked as General Secretary of the organizing committee, said even though the time they got was short, Mongolia has shown it can put up a big show without outside help.

An NGO called Mongolia’s Economic Forum will now be set up with responsibility to hold this meeting every year. A strategic policy council will monitor implementation of suggestions thrown up at the conference. Minister Bayartsogt has said, “This does not necessarily mean that all the suggestions will be accepted for implementation. But they will be carefully evaluated.”

The consensus was that the Forum had succeeded in bringing together decision makers, government officials, the civil society and the private sector to emphasize “Together we can”.