Mining Week-2023 Highlights Transparent and Responsible Mining

Densmaa 2023-10-12 04:10

Economy

"Mining Week-2023", a conference to share the latest news and information on the mining industry, which is a pillar of Mongolia's economy is taking place on October 9-13

"Mining Week-2023", a conference to share the latest news and information on the mining industry, which is a pillar of Mongolia's economy is taking place on October 9-13. The Ministry of Mining and Heavy Industry and the Mongolian National Mining Association are jointly organizing this year's conference. The conference aims to attract investment, provide investors with government policy and legal reforms of the industry, present new projects, market trends, and the investment environment, openly discuss and seek solutions for the issues facing the industry, and to outlook future development. More than 300 representatives from 20 countries and more than 3,000 from enterprises and organizations of Mongolia are participating in the conference. Minister of Mining and Heavy Industry J. Ganbaatar called on investors to invest in the mining sector of Mongolia for mutual benefits, noting that the Government of Mongolia is working to create a favorable environment for long-term stable investment. In addition to investment, Mining Week-2023 is highlighting transparent and responsible mining. Within the framework of the "New Revival Policy", the Government is focusing on increasing ports, building paved roads, improving infrastructure and logistics, expanding the railway network, shifting the mining sector from extraction to processing, and intensifying industrialization. At the Conference, representatives of the Government and the private sector made presentations for discussion on the international competitiveness of the mineral resources sector, the investment environment, legal reforms, transportation of mining products, responsible mining, and the environment. The mining sector dominates the economic sector, making up 23.6 percent of Mongolia's gross domestic product, 24.8 percent of budget revenue, 93.7 percent of total exports, and 82.5 percent of foreign direct investment alone.