Mongolia is embarking on an ambitious journey to accelerate national progress through the 2024-2028 Action Plan. Crafted after the parliamentary elections, this plan reflects a coalition government where the Mongolian People’s Party (MPP), holding the majority, has invited the Democratic Party and HUN Party to join forces under a unified vision—"Rapid Development Goal." This collaboration marks a new era of unity, focused on building a prosperous and equitable future for all Mongolians.
Guiding Principles
The Action Plan is rooted in key principles that prioritize Mongolia’s national interests and long-term development:
- Strengthening national unity and advancing Mongolia’s best interests.
- Upholding the rule of law and fostering a transparent government.
- Placing national interests above party or individual concerns.
- Ensuring stable implementation of long-term policies like "Vision-2050" and the "New Revival Policy" to meet the country’s most pressing development needs.
Key Focus Areas
The 2024-2028 Action Plan covers a range of sectors essential to Mongolia’s progress. Here are some of the critical areas:
Regional Development
The government aims to promote diversified economic growth across Mongolia’s regions. Tailored tax policies will address each region’s strengths. For example, the Western Region will focus on renewable energy and industrial growth, while the Khangai Region will leverage its traditional animal husbandry expertise and urban development opportunities.
Infrastructure Expansion
Building a stronger foundation for Mongolia’s future starts with robust infrastructure. The plan prioritizes energy independence and improved transportation networks. A new 90 MW hydroelectric power plant in Erdeneburen is set to provide a reliable energy supply for the Western Region. In addition, a railway line connecting Ulaanbaatar to the Shiveekhuren border crossing will enhance trade routes and regional connectivity.
Industrial Self-Sufficiency
Mongolia is ready to expand its industrial capabilities. The government plans to launch a steel production complex to meet domestic demand for construction materials, like rebar, reducing reliance on imports and fostering economic self-sufficiency.
Human Development
Inclusivity and well-being are at the heart of Mongolia’s progress. The Action Plan focuses on enhancing social services, expanding affordable housing, and improving access to quality healthcare and education. Specific programs will address the needs of families, children, the elderly, and people with disabilities—ensuring that all Mongolians benefit from national growth.
Economic Growth
Mongolia’s economic vision aims for consistent growth, with a target of 6% GDP increase annually. The plan emphasizes keeping inflation below 5% and raising foreign currency reserves to $10 billion. Fiscal discipline, coupled with controlled government spending, will ensure sustainable economic progress and the responsible management of national debt.
Digital Transformation and Innovation
Looking to the future, Mongolia’s plan highlights the power of technology. A national satellite will be launched to improve internet access across the country. The "Smart E-Mongolia" platform, driven by artificial intelligence, will streamline government services, boosting efficiency and making the state more accessible to its citizens.
The Mongolian Government's 2024-2028 Action Plan offers a comprehensive roadmap for the country’s future. With a focus on unity, sustainable growth, and digital innovation, Mongolia is poised to achieve rapid development, ushering in an era of prosperity, inclusivity, and modernity for all its citizens. The coming years promise to be transformative as Mongolia rises as a regional leader on the global stage.
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