EDB Meeting Secures $545 Million in Investment and Cooperation Projects
Economic Development Board Meeting Concludes with Agreements to Launch USD 545 Million in Investment and Cooperation Projects
The regular meeting of the Economic Development Board under the Prime Minister of Mongolia was held with the participation of more than 120 domestic and international businesses and investors. The expanded session was jointly organized by the Economic Development Board and the Mongolian Economic Forum NGO.
The meeting focused on key topics and proposals aimed at strengthening partnerships and cooperation between Mongolia and regional as well as international stakeholders. During the session, six Memoranda of Understanding (MoUs) were signed in the fields of energy, banking and finance, real estate, and international institutional investment. These agreements are expected to initiate investment and cooperation projects totaling USD 545 million.
Among the key agreements, the Mongolian Stock Exchange and Phillip Capital Group of Singapore signed a long-term strategic cooperation MoU. The partnership is expected to play a significant role in enhancing the development of Mongolia's capital market by improving its international competitiveness, diversifying financial products, and increasing market liquidity.
In addition, Newcom Property LLC signed a cooperation agreement with Beijing Chinagas Sencreate Technology Co., Ltd. of China to jointly invest in advanced heating technologies and real estate development projects.
Furthermore, MAX Group entered into an agreement with Singapore-based WisdomWin Energy LLC to collaborate on domestic energy projects. The partnership aims to implement these projects in line with the best international practices, advanced technologies, and the principles of responsible infrastructure development.
The meeting also featured presentations and discussions on several strategic topics, including the development of renewable energy sources, securing the next "Oyu Tolgoi-scale" project, sovereign Wealth Fund, creating a Housing Finance Bank, developing economic free zones, and transforming Ulaanbaatar into an international financial center.
Under the Government of Mongolia's "Unlock" (Chuluulye) policy initiative, participants engaged in constructive dialogue on diversifying the economy, identifying new channels of Revenue generation, promoting export-oriented industries, and addressing existing economic challenges. Discussions also focused on responding to evolving geopolitical and geoeconomic trends, attracting investment in clean energy, advancing artificial intelligence, developing data centers, and strengthening data security through enhanced cooperation between the government, investors, and the private sector.
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