Prime Minister introduces 2014 plans for ‘Let’s Construct and Create in Mongolia’

On January 9, the Prime Minister of Mongolia, N.Altankhuyag, introduced plans and projects for 2014 for construction, support for industrialization, improving household income by increasing employment opportunities, and combating corruption and bribery.


The year 2013 was a year that challenged Mongolians, the Mongolian state and government. The global economy suffered, the economic growth of China slowed, and investments oriented towards developing countries were drawn back. It was the year when direct foreign investment in Mongolia decreased.

The Prime Minister has stated that recovery can be created with the support, initiation and participation of citizens, listing the following projects:

The Chinggis Bond was raised and construction projects were successfully launched. A price stabilization program was conducted in collaboration with Mongolbank, and N.Altankhuyag pointed out that the low interest mortgage loan project was successfully implemented. Around 17 thousand citizens have been covered by the eight percent housing loan so far.

A total of 51 thousand new businesses were created in 2013. Some 20 thousand citizens bought new apartments and houses, the construction sector doubled in growth, economic growth reached 12 percent, livestock counts reached 45 million, the centers of four provinces were connected to Ulaanbaatar with paved roads, and 1,800 kilometers of roads were newly constructed.

Although economic growth has been strong, Mongolia imports 88 percent of its total consumer goods and produces only 12 percent domestically. Despite producing 45 million heads of livestock, the nation buys 74 percent of foreign dairy products, 41 percent of flour-based products, and 62 percent of its textiles and clothing from overseas. The Prime Minister believes that the time has come, and demand has been created, to create and produce domestically. In order to reach the government’s goals, exports need to be increased by one trillion in 2014 and support for manufacturing should replace support for imports. N.Altankhuyag has declared that the year 2014 will carry the motto “Let’s Create and Construct in Mongolia”.

The government is planning to launch an apartment housing project for 1,000 households in every province, building up paved roads from Dornod, Sukhbaatar, Omnogovi, Hovsgol, Gobi-Altai, Zavkhan to Ulaanbaatar, and building medical diagnostic centers in 12 provinces with funding totaling 150 trillion MNT. N.Altankhuyag introduced these objectives at a meeting with the province governors of all 21 provinces.

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