Mongolian
Mongolia’s Prime Minister, L. Oyun-Erdene, submitted the Sovereign Wealth Fund bill to Parliament Speaker G. Zandanshatar on April 3.
Prime Minister L. Oyun-Erdene underscored that “the bill on the Sovereign Wealth Fund has been crafted in consultation with the political parties represented in Parliament.”
The main goal of this legislation is to guarantee that all Mongolian citizens, including both current and future generations, receive the benefits from the revenues generated by the country’s subsoil resources, ultimately strengthening the state budget.
Additionally, the bill seeks to outline the processes for identifying the origins, categories, and objectives of the wealth fund, setting up the organizational framework for overseeing the fund’s assets, and implementing systems for reporting and supervising its operations.
