Mongolia's New Gov't Releases New 4-Year Plan
The new government of Mongolia has released its program for the next four years, pledging all-round economic reforms, local media reported Tuesday.
The blueprint is based on the platforms of the ruling Democratic Party, Civil Will-Green Party and Justice Coalition, which formed the coalition government.
The program raises five goals of the new government in the four-year term, including creating jobs, improving incomes, making Mongolians healthy, knowledgeable and free, and protecting the environment.
Major measures listed in the program include efforts to reform export policy, capital market and taxation system, reduce interest rates of loans, cancel export tariffs on commodities except mineral products as well as lower import tariffs on commodities by 80 percent except mineral products.
The program requires that Mongolia must own no less than 51 percent of shares of foreign-funded companies in the country.
In order to safeguard energy security and reduce inflation, the program proposes to build oil refineries and a Ulan Bator-Zamiin Uud expressway.
Mongolian Prime Minister Norov Altanhuyag said Mongolia faces great development opportunities and the country's economy is expected to grow 14 to 15 percent annually by 2020.
On foreign policy, the program says Mongolia will continue to develop strategic partnerships with Russia and China.
The blueprint is based on the platforms of the ruling Democratic Party, Civil Will-Green Party and Justice Coalition, which formed the coalition government.
The program raises five goals of the new government in the four-year term, including creating jobs, improving incomes, making Mongolians healthy, knowledgeable and free, and protecting the environment.
Major measures listed in the program include efforts to reform export policy, capital market and taxation system, reduce interest rates of loans, cancel export tariffs on commodities except mineral products as well as lower import tariffs on commodities by 80 percent except mineral products.
The program requires that Mongolia must own no less than 51 percent of shares of foreign-funded companies in the country.
In order to safeguard energy security and reduce inflation, the program proposes to build oil refineries and a Ulan Bator-Zamiin Uud expressway.
Mongolian Prime Minister Norov Altanhuyag said Mongolia faces great development opportunities and the country's economy is expected to grow 14 to 15 percent annually by 2020.
On foreign policy, the program says Mongolia will continue to develop strategic partnerships with Russia and China.
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