The southern region of Mongolia has the potential for long-term growth if green development, renewable energy, and tourism investments are combined with large infrastructure projects in the energy, transportation, and extractive sectors, according to ADB and Mongolian stakeholders at a meeting today. They were at an ADB-hosted provincial-level regional conference with the Mongolian government to discuss rural development difficulties and on-the-ground project experiences.
The first of four provincial-level regional conferences commemorating the 30th anniversary of the ADB–Mongolia collaboration began with virtual site visits to featured projects to demonstrate their beneficial influence on the province’s economic and social growth.
Following the video visits, high-level representatives from project executing agencies, including the state secretaries of the Ministries of Construction and Urban Development, Food, Agriculture and Light Industry, and Health, praised ADB’s long-term collaboration, stressing the need for timely operations to expand the capacity of social and urban services in a region where the population is rapidly growing.
The event’s second half focused on the region’s long-term growth and the necessity for ADB assistance. Trade facilitation, logistics, connectivity, and job creation were among the important areas of ADB’s participation in the region, according to a panel discussion with government authorities. Governors from the four provinces met to discuss development priorities, policies for ensuring socially and environmentally sustainable growth in the region, and the role of the Asian Development Bank in promoting rural development.
The ancient Gobi desert spreads over Mongolia’s southern portion, which has recently seen a mining boom. Large mineral reserves and new mining ventures boosted the region’s investment, employment creation, and tax revenue. The Russia–PRC transport and commercial corridor pass through a section of the southern region, making Dornogobi province the busiest border crossing point in the country.
The Asian Development Bank is dedicated to establishing a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while continuing to fight extreme poverty. It was founded in 1966 and is owned by 68 members, 49 of them are from the region.
Photo Credit: https://www.selenatravel.com/mongolian-culture