More than 120 foreign investors, together with representatives of the Bank of Mongolia and Mongolia’s private sector, attended the Prime Minister’s Economic Development Board’s “Unlock the Mongolian Economy” meeting in Ulaanbaatar on June 29.

The meeting delivered several key outcomes:

–       Six investment agreements and memorandums of understanding worth a combined USD 545 million were signed.

–       Singapore’s Phillip Capital, which manages USD 65 billion in assets, announced plans to open an office in Mongolia.

–       Hungary’s OTP Bank formally expressed its interest in establishing a branch in Mongolia.

Addressing the meeting, Prime Minister N. Uchral said the discussions built on those held during the World Economic Forum’s Summer Davos in Dalian and highlighted the Government’s “Unlock” reform agenda to strengthen Mongolia’s legal framework and improve the investment climate.

Representatives of international investors welcomed the Government’s reform agenda. OTP Bank said ongoing regulatory reforms would improve opportunities to finance major projects and expand banking services in Mongolia.

Luís Santos, Founder of Alpac Capital, said Mongolia has established the foundations to attract more Western investment, citing the country’s improving governance, policy stability, and investment environment.

Prime Minister N. Uchral met with World Economic Forum President and Chief Executive Officer Alois Zwinggi on June 24 on the sidelines of the World Economic Forum’s Annual Meeting of the New Champions in Dalian, China.

Prime Minister N. Uchral welcomed Mr. Zwinggi on his appointment and reaffirmed Mongolia’s support for the World Economic Forum’s role in fostering international dialogue and cooperation.

He also expressed Mongolia’s interest in expanding cooperation with the WEF in innovation, green development, critical minerals, the energy transition, trade facilitation, and the digital economy.

The two sides also discussed preparations for the YGL Learning Journey Mongolia 2026, which will be held in Mongolia from August 3 to 7.

Prime Minister N. Uchral led Mongolia’s delegation to the World Economic Forum’s Annual Meeting of the New Champions (Summer Davos) in Dalian, China, from June 23 to 25.

Speaking at a World Economic Forum session on food systems, Prime Minister N. Uchral highlighted Mongolia’s efforts to strengthen food security, combat land degradation, and improve market access for small and medium-sized producers. He also outlined reforms under the Government’s “Unlock” initiative to reduce bureaucracy, encourage private investment, and promote growth in food production, processing, and logistics.

The Prime Minister also participated in a panel discussion on artificial intelligence and energy, where he emphasized that energy, digital infrastructure, and AI should be developed as an integrated ecosystem to support long-term economic growth.

He highlighted Mongolia’s efforts to establish a legal framework for data centers and invited global technology companies to invest in the country’s digital infrastructure and growing digital economy.

Prime Minister N. Uchral also invited participants to visit Mongolia during the 17th session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification, which the country will host from August 17 to 28.

Prime Minister of Mongolia N. Uchral attended the opening plenary session of the World Economic Forum’s 17th Annual Meeting of the New Champions, widely known as Summer Davos, in Dalian, China, on June 24.

Participants discussed global trends and challenges in the economy, trade, technology, innovation, manufacturing, energy transition, and regional cooperation, as well as opportunities emerging from shifting geopolitical and economic dynamics.

Mongolia’s high-level participation in the forum provides an opportunity to engage directly with global political and business leaders, promote the country’s investment environment, showcase the Government’s development priorities and flagship projects, and expand international partnerships.