Bcm Summit Addresses Business Sector Development

By Ch.KHALIUN

The Business Council of Mongolia (BCM) held the 1st Annual Business Council of Mongolia Summit last Thursday at Blue Sky Hotel, to discuss and exchange views about how the business community can resolve issues plaguing Mongolia's business sector under the banner "Supporting sustainable business growth and development in Mongolia".

Executive Director of Erdenes Mongol B.Byambasaikhan presented opening remarks at the meeting.

The BCM highlighted that some of Mongolia's top businesses and analysts spoke at the event, including Board Chairman of American University of Mongolia Peter Morrow, Executive Director of the National Council of Private Sector Support Ch.Khashchuluun, and Chief Executive Officer of Oyu Tolgoi Andrew Woodley.

At the summit, Managing Partner of Price Waterhouse and Coopers Mongolia Matthew Pottle gave advice on how businesses can best manage today's economic slowdown. International Finance Corporation's Resident Representative for Mongolia Tuyen Nguyen noted that the IFC still has in hand an austerity plan that focuses on cutting unnecessary public spending along with assistance for managing today's tough economic conditions. "There is room for flexibility," he said.

At the end of the meeting, the summit's participants presented their conclusions, and President of the Institute for National Strategy Cameron McRae underlined, "Over the past four years, many strange and...