Speaker of the Parliament N.Uchral met with Oliana Valigura, Director for Asia of the Extractive Industries Transparency Initiative (EITI), to discuss measures to strengthen transparency in Mongolia’s extractive sector.

Mongolia joined the EITI in 2007 and the Open Government Partnership in 2013, committing to international standards of openness in mining and natural resource management. In his remarks, Speaker N.Uchral emphasized the country’s aim to improve its ranking on Transparency International’s Corruption Perceptions Index. He highlighted the need for an independent law, “On the National Wealth Fund and Extractive Industries Transparency,” which would define sector responsibilities, establish a unified database, and regulate the rights and duties of all stakeholders. The draft law, developed by a working group led by parliament member B.Uyanga, is expected to be submitted for consideration during the spring session.

The speaker stressed that the adoption of the draft law would make payments, contracts, licenses, and financial information of mining companies publicly accessible, reducing opportunities for corruption. The legislation is intended to cover not only mining but also other resource sectors, including wildlife, water, forests, and natural plant resources, with provisions for public discussion and comment to ensure broad societal engagement.

Oliana Valigura commended Mongolia for its existing transparency practices in the extractive industry and exchanged views on introducing international standards and assessment methods. She emphasized the importance of collaboration between the government and civil society and expressed her readiness to support the legislative process with guidance and recommendations.

According to the Parliamentary Press and Public Relations Department, 55 resource-rich countries worldwide have joined the EITI. Speaker N.Uchral noted that the new law will significantly contribute to Mongolia’s progress in the Corruption Perceptions Index and strengthen public trust in the management of the country’s natural wealth.