According to leading Mongolian  daily “Udriin Sonin” today, Prime Minister of Mongolia S.Batbold briefed extensively local media last Thursday:


Regarding main achievements of Coalition Government he said

  • Mongolian state policies must have continuity
  • All have approved action program of Coalition Government
  • OT is a project that is putting Mongolia on a new level of investment and economic production
  • We have no doubt whatsoever that its successful implementation must be continued, perhaps Governments to come too will have no such doubts
  • We are working to increase further in stages benefits to impact development of Mongolian people
  • Goal of my Government is to make economic change real. Economic growth should become lever for development of Mongolia
  • It should be not only about implementing projects but new level of economic growth
  • Development of capital markets means culture and mentality of economic relations, open governance, improvement of profitability
  • We have laid the foundation for major projects of productive development and infrastructure

Regarding OT IA and controversy surrounding it

  • We should discuss well internally before letting it burst outside
  • We are not denying issues put forward by MP-s , we understand their reasoning and that they don’t want to stop the project
  • Therefore it is necessary to thoroughly discuss with them, we are actually doing that, we are not refusing that there is no need to make negotiations
  • Indeed we have not said that OT IA is perfect, however, I firmly state that OT work must progress without distractions
  • Mongolian people should think that they have now five Erdenet mines
  • We have made negotiations with OT investors in last spring and achieved major results
  • We support increase in interests and participation of Mongolian people in OT
  • Issues proposed by MP-s will be discussed with investors, it has been stressed that this will be respected by both parties. However, if sudden changes are made in the agreement there are likely to be difficulties in funding condition, there could be a tendency for project work to postpone.
  • Two parties have agreed on a principle that improvement of issues of the IA will be resolved in stages
  • Any country must have a reputation. In order to achieve that I think everything is possible if negotiations are done in civilized, with principles and market manner.


Regarding Mongolia’s economic growth of 17%

  • Economists estimate that economic growth this year will be 18-20%
  • Our goal is to keep it that way in stable manner
  • We should reduce dependence on commodities and increase processing and industrialization, national production

Regarding election promises

  • There is no way to refuse that political parties did make exorbitant promises in elections. Election promises fulfillment should be done properly in accordance with real economic possibilities
  • Political parties have agreed that next elections must be done without impossible in market environment promises. On the other hand issue to be resolved when economically possible must be resolved

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Chief Investment Strategist

Dale Choi

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