Ulaanbaatar to Develop With Private and Foreign Funding

On July 23, Chief of the Ulaanbaatar City Governor’s Office, Yo.Gerelchuluun, reported the implementation of a new regulation to introduce and adapt in-demand, advanced technology and know-how funded not only by the state and city budget, but also by the foreign and domestic private sector.

The regulation is expected to accelerate the introduction of usable advanced technology without dependence on the state or city budget. It states that with their own funding, any foreign or local citizen or business entity is permitted to introduce new technology that will advance the city’s development. If it is proven to be efficient, the private developers may transfer ownership to state and be reimbursed for their expenses.

According to the regulation...