World Economic Forum to host its first Strategic Dialogue on the Future of Mongolia on 14-15 September- Mongolian government and leading domestic and international business leaders will take part
- Leaders will explore sustainable pathways for Mongolia’s future economic prosperity
- For more information about the meeting, please visit http://wef.ch/Mongolia13
Geneva, Switzerland 12 September 2013 –The World Economic Forum in cooperation with the Government of Mongolia will be holding its first “World Economic Forum Strategic Dialogue on the Future of Mongolia” which will take place on 14-15 September in Ulaanbaatar. The meeting will bring together the Mongolian government and other leading domestic and international stakeholders to explore sustainable economic pathways for the country. The President of MongoliaElbegdorj Tsakhia, Prime Minister Altankhuyag Norov, Parliamentary Speaker Enkhbold Zandaakhuu and several members of the Cabinet and Parliament will take part.
Mongolia, one of the world’s fastest-growing economies, is benefitting from an expanding mining industry, which is still far from realizing its potential. The country hopes to direct the wealth generated from this industry to improve infrastructure and foster growth across sectors. The number of Mongolians living in poverty has already decreased from 39.2% in 2010 to 27.4% in 2012. While the country’s future prosperity will be determined by the actions of leaders in government, business and civil society, it will also be affected by a range of highly uncertain and external drivers of change. This meeting will explore a variety of potential policies that could take advantage of these drivers.
“Mongolia has all the right ingredients for future growth and prosperity. It is now crucial to tap into that potential in a way that benefits the maximum number of its citizens, because ultimately the success of a country’s development has to be measured in the good it brings to its people. The World Economic Forum is proud to be part of the discussion on suitable policy options and the best way forward. And personally, I’m excited to work with a government that understands the need for long-term thinking,” said Børge Brende, Managing Director and Member of the Managing Board, World Economic Forum.
Throughout 2013, the World Economic Forum has conducted interviews and meetings with nearly 150 domestic and international stakeholders and experts to develop a set of scenarios that explore the different ways in which Mongolia’s future context may develop. The meeting will use these scenarios to discuss three key strategic decisions important for securing Mongolia’s prosperity. These are:
- How should the development of the mining industry and its potential revenues be managed to maximize their benefit for the country?
- What forms of economic diversification should be pursued and how?
- What relationships (for trade and investment) need to be effectively pursued to achieve both?
By discussing these strategic decisions, participants will have the opportunity to contribute to the country’s forward-looking policy agenda. The outputs of this meeting will also inform ongoing discussions between local and international stakeholders and the World Economic Forum’s Scenarios for Mongolia project. This dialogue will be continued at the World Economic Forum’s Annual Meeting in Davos-Klosters in January 2014.