Mongolia economic forum to explore post-pandemic growth sources-Xinhua

Mongolia economic forum to explore post-pandemic growth sources

Source: Xinhua| 2023-07-09 17:40:30|Editor: huaxia

ULAN BATOR, July 9 (Xinhua) -- The 2023 Mongolia Economic Forum kicked off Saturday to promote post-pandemic economic growth by attracting more foreign investors and tourists.

More than 1,700 domestic and foreign officials, investors and entrepreneurs are participating in the two-day event under the motto "Welcome to Mongolia" to explore how to accelerate Mongolia's economic growth after the COVID-19 pandemic and create a favorable environment for foreign investors and tourists.

"Today, countries worldwide strive to develop together, not alone. As for Mongolia, it has to look in the same direction as other countries to keep up with development and develop an economy based on its own characteristics," Mongolian Prime Minister Luvsannamsrai Oyun-Erdene said at the opening ceremony of the annual event held at the country's State House.

"To do this, investment and business activities must be sustainable and mutually beneficial. So, we are working to create a friendly environment for investors," he said.

Currently, Mongolia's economy is mainly dependent on its export-oriented mining sector. Developing tourism and attracting more investors is seen as the most viable way to diversify its economy.

Therefore, the country has declared 2023, 2024 and 2025 as "The Years to Visit Mongolia" under the official motto "Welcome to Mongolia" and hopes to diversify and develop its economy through tourism.