A high-level public-private forum was held last week to discuss Mongolia’s competitiveness and future development trajectory within the framework of the draft Five-Year Main Directions for Development for 2026 through 2030. The event was co-organized by the Ministry of Economy and Development and the Mongolian National Chamber of Commerce and Industry and brought together government officials, private sector leaders and economic experts.
Opening the forum, First Deputy Prime Minister and Minister of Economy and Development N.Uchral delivered a presentation on the state of the economy and the key elements of the draft plan. He noted that the country’s international competitiveness ranking currently stands at 61st and stressed that the government aims to advance by 11 places to 50th over the next five years. “This requires coordinated efforts across all state organizations and strong engagement from the private sector,” N.Uchral said, outlining measures to modernize governance, strengthen infrastructure and increase economic diversification.
The draft Five-Year Main Directions are considered one of the government’s most important policy documents, guiding economic, social and infrastructure development from 2026 to 2030. They build on Mongolia’s long-term “Vision-2050” strategy and are closely tied to the medium-term fiscal framework. Priority areas include boosting industrial output, diversifying exports beyond mining, accelerating the transition to renewable energy, improving digital connectivity, and enhancing transit corridors linking Asia and Europe.
During the discussion, representatives of private sector organizations presented specific proposals. Industry associations emphasized the need to strengthen national production by modernizing processing industries, particularly in agriculture and mining value chains. Business leaders called for more efficient use of natural resources, arguing that improved productivity and technological innovation are critical to competitiveness. Logistics and trade representatives pressed for accelerated development of transit corridors, including railway expansion and cross-border infrastructure, to position Mongolia as a key hub for regional trade.
Participants also raised concerns about persistent barriers to competitiveness, including bureaucratic inefficiency, a lack of consistent policy implementation, and limited access to investment capital. Several speakers called for reforms to reduce red tape for businesses, greater support for small and medium-sized enterprises, and clearer regulatory frameworks to attract foreign direct investment.
Government officials responded by pledging to integrate many of the private sector’s recommendations into the draft plan. They also highlighted the importance of international cooperation, noting that improving Mongolia’s competitiveness ranking requires alignment with global standards in governance, finance and technology.
