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.

Prime Minister N. Uchral met with private sector representatives and investors on May 6, outlining a series of reforms aimed at improving Mongolia’s investment climate, reducing bureaucracy, and expanding economic freedom.

The government plans to gradually phase out energy sector subsidies by 2029 and has approved a “green resolution” aimed at reducing dependence on imported fuel and energy. Tenders will soon be launched for privately financed solar power and battery storage projects in Orkhon, Uvurkhangai, Khentii, Dundgovi, and Govisumber provinces, the Prime Minister noted.

The Prime Minister also announced planned tax reforms aimed at easing the burden on businesses and citizens, alongside a proposed Economic Freedom Law designed to limit government restrictions on business activity. Under the framework, restrictions could only be imposed on the grounds of national security, public interest, or fair competition.

Prime Minister N. Uchral said existing regulations across 41 laws currently restrict foreign investment in multiple sectors. Amendments are planned in 16 sectors to remove unnecessary barriers and create a more investor-friendly environment.

Planned legal reforms would also strengthen the independence of the Mongol Bank and open the door for foreign banks to enter the market.

Mongolia is additionally preparing to launch major industrial projects, including steel and copper processing complexes, a gold refinery, an aluminum industrial park, and oil refinery facilities.