National Wealth Fund Law to be Presented to Parliament of Mongolia
At the regular session of the Cabinet, Minister of Mongolia and Head of the Cabinet Secretariat presented the draft law on the National Wealth Fund.
At the regular session of the Cabinet, Minister of Mongolia and Head of the Cabinet Secretariat presented the draft law on the National Wealth Fund. Following the presentation, the Cabinet decided to submit the draft law to the parliament for consideration. The proposed legislation aimed at establishing a National Wealth Fund to ensure the equitable and sustainable distribution of income generated from Mongolia’s subsoil resources to all citizens, both present and future. The draft law outlines the sources of revenue for the National Wealth Fund, its designated purposes, and the structure for managing its assets. Additionally, it regulates the control of the fund activities and reporting. The establishment of the National Wealth Fund, comprised of income from Mongolia’s natural resources, including underground resources will ensure the Amendments to the Constitution to be realized.
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