Монгол Улсын Эдийн засаг, хөгжлийн яам | |
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Agency overview | |
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Formed | 2022 |
Preceding agency |
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Jurisdiction | Government of Mongolia |
Headquarters | Government Building XI, J.Sambuu St, Chingeltei, Ulaanbaatar 15141, Mongolia |
Employees | 135 [1] |
Minister responsible |
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Deputy Minister responsible |
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Child agency | |
Website | med |
The Ministry of Economy and Development is a ministry of the Government of Mongolia. It was established in 2022 on the basis of the National Development Agency. Ministry has jurisdiction over a broad policy area, including national mid and long-term development policy planning, manage and coordinate the implementation of the integrated policy of development. [2] Ministry is headed by the Deputy Prime Minister of Mongolia and Minister of Economy and Development. The Agency for Investment and Trade operates under the jurisdiction of the minister.
The Ministry is organised into following departments and divisions: [1]
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On the eve of the 1921 revolution, Mongolia had an underdeveloped, stagnant economy based on nomadic animal husbandry. Farming and industry were almost nonexistent; transportation and communications were primitive; banking, services, and trade were almost exclusively in the hands of Chinese or other foreigners. Most of the people were illiterate nomadic herders, and a large part of the male labour force lived in the monasteries, contributing little to the economy. Property in the form of livestock was owned primarily by aristocrats and monasteries; ownership of the remaining sectors of the economy was dominated by Chinese or other foreigners. Mongolia's new rulers thus were faced with a daunting task in building a modern, socialist economy.
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