Dr. Fernando Bertoli, Chief of Party, USAID Economic Policy Reform and Competitiveness Project, with Mongolian lawmakers and government representatives at one of five tax retreats sponsored by the project."

GOAL

To support Mongolia’s efforts to accelerate and deepen the policy liberalization process and promote increased competitiveness of the Mongolian economy to achieve broad and sustainable, private–sector–led economic growth.

Situation and Solution

Among transition economies, and more broadly among lower GDP per capita countries, Mongolia has achieved remarkable progress in setting the foundations for a democratic, open–market economy. Since the breakup of the Soviet Union in 1989, the country has implemented broad economic and political reforms, changing from a state–controlled to a market–driven economy where the private sector now accounts for more than 70 percent of GDP. With the most difficult tasks of a democratic transition largely completed, Mongolia now needs to focus on a second stage of economic policy reform measures to improve its competitive participation in the world economy and provide for broad–based, equitable, private–sector–led economic growth. EPRC is assisting Mongolia in:

-Economic and trade policy. To: (a) improve the economic and trade policy environment; and (b) strengthen its trade capacity.

-Energy sector reform. To: a) improve coordination of national energy sector policies; b) make the energy sector regulatory environment more transparent, market-oriented, and efficient; and c) improve commercial orientation and practices of energy sector state-owned enterprises.

-Financial markets. To: a) strengthen the enabling legal and regulatory environment for business and finance; b) strengthen corporate governance; and c) facilitate transactions to improve the competitive environment of selected markets.

-Consensus building, public education and national dialogue. To: a) improve public disclosure; b) support mechanisms of public dialogue and citizen input on the enabling business environment; and, c) strengthen coordination and cooperation with partners, foreign investors, bilateral, and multilateral organizations.

Pages: 1 2