Ulaanbaatar/MONTSAME/. Today, August 14, a ceremony has taken place to inaugurate the ‘Zamyn-Uud Free Economic Zone’.

During the ceremony, Deputy Prime Minister S. Amarsaikhan noted, “Although the decision to establish the free zone was initially adopted in 2004, there have not been any substantial construction works. Therefore, we are working to settle obstacles in establishing the free economic zone and intensify its activities.” He also emphasized that a bill was formulated to amend the Law on Free Zones with aims to approve related State Policy and improve legal environment. “The bill is expected to be considered and approved during the autumn session of the Parliament this year. The free economic zone is believed to serve as a bridge among Mongolia, China and Eurasia.”      

Within the framework of the project on infrastructure improvement of Zamyn-Uud free economic zone, sets of works were completed on 48 hectares with the soft loan of China. These include establishment of water supply, sewerage, power plant, road and communication.  

Favorable regulatory framework will enable increase in exports and imports, development of factories, creation in new sectors of trade and development and employment, boost in tourism and transit and logistics activities, bring new technologies, trade facilitation and regional development. For instance, the GDP is expected to grow by 10 percent over the years 2022-2034 and the number of jobs will increase by 9,400 by 2026, 15 thousand by 2030 and 18 thousand by 2034.

According to the master plan for the Zamyn-Uud free economic zone, 68 investors have been selected to operate activities on 101 hectares of land, of which 7 hectares are for tourism, 47 hectares for manufacturing, 20 hectares for trade and services, 25 hectares for warehousing and logistics, and 1.4 hectares for gas stations.

Present at the ceremony, there were MP and Deputy Prime Minister S. Amarsaikhan, MP and Chairperson of the Parliamentary Standing Committee on Industrialization Policy B. Choijilsuren, Chairperson of the Standing Committee on Economy J. Ganbaatar, MPs D. Sarangerel and T. Enkhtuvshin, Minister of Environment and Tourism N. Urtnasan, Minister of Energy N. Tavinbekh, Mongolia’s Ambassador to the People’s Republic of China T. Badral and Ambassador of the People’s Republic of China to Mongolia Chai Wenrui.