Ulaanbaatar Mayor’s Office and the Ulaanbaatar Chamber of Commerce is organizing the 4th Ulaanbaatar Investment business meeting today in the State House.
The annual business meeting is a designated platform to introduce infrastructure development and upcoming projects to be implemented in the capital city to prospective investors. According to the organizers, this year’s meeting redirects the focus of investors on infrastructure developments aiming to improve the living environment of the over a million residents of the capital city.
In specific, major projects including the ‘BUK -1’ precast factory project of Erel group, ‘Service Center’ project in ger areas and ‘Smart City’ project were presented to investors at the meeting.
The 2017 Budget of the capital city saw surplus of MNT 19.3 billion, according to officials. Moreover, infrastructure development works worth MNT 338.3 billion were implemented last year.
In 2018, the capital city authority will spend MNT 414.1 billion on infrastructure development works, financed by the state and the capital city budgets and foreign investment. “We selected the 2018 projects based on the opinion of the people,” said the Mayor. Majority of the 2018 projects will be realized in social infrastructure.
“Ulaanbaatar offers big opportunities to investors”, remarked Ulaanbaatar Mayor S.Batbold during his opening speech, while adding that 2018 will be a year to see serious growth in the improvement of investment environment, broadening of promotions, development of infrastructure, and conversion of ger areas into apartments.
The Mayor also called for closer cooperation between the public and private sector and the citizens saying, “The role of citizens is crucial in improving the livelihood, therefore, 2018 has been announced as a Year of Living Environment Improvement with Citizen Participation.”