| Project Detail |
The knowledge and support TA will improve the capacity of Mongolias non-mining sectors to participate in the global and regional economy. It will complement government efforts to diversify its economy and expand trade by (i) promoting strategic development of border ports and free zones through integrated planning, (ii) enhancing capacity of SMEs to trade including cross-border e-commerce, and (iii) strengthening trade institutions and policy coordination among Mongolian agencies and their counterparts in the PRC through cooperation mechanisms and capacity-building.
Project Name Supporting Sustainable and Inclusive Integration in the Regional and Global Economy
Project Number 55210-001
Country / Economy Mongolia
Project Status Approved
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 10007-MON: Supporting Mongolias Sustainable and Inclusive Integration in the Regional and Global Economy
Technical Assistance Special Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector
Industry and trade / Industry and trade sector development - Small and medium enterprise development - Trade and services
Gender Equity and Mainstreaming Some gender elements
Description The knowledge and support TA will improve the capacity of Mongolias non-mining sectors to participate in the global and regional economy. It will complement government efforts to diversify its economy and expand trade by (i) promoting strategic development of border ports and free zones through integrated planning, (ii) enhancing capacity of SMEs to trade including cross-border e-commerce, and (iii) strengthening trade institutions and policy coordination among Mongolian agencies and their counterparts in the PRC through cooperation mechanisms and capacity-building.
Project Rationale and Linkage to Country/Regional Strategy
Economic diversificationa long-standing priority of the governmentis crucial for Mongolias sustainable growth and inclusive recovery. As part of Vision 2050, Mongolia aims to improve its participation in regional and global value chains by aligning with international quality standards, developing e-commerce, and promoting the private sectors international competitiveness. In December 2021, the government adopted a 10-year medium-term planthe New Recovery Policyto strengthen economic resilience, mitigate the impact of the COVID-19 pandemic, and address multifaceted development barriers._The plan includes priority actions to recover operations of border ports and public productivity.
Established in January 2022, the Ministry of Economy and Development, now has the policy mandate on trade, economic cooperation, border port development, and free zones. As a new ministry of important functions, MED needs TA to implement priority actions under the New Recovery Policy, such as enhancing development plans and capacities of border ports, resolving trade issues through bilateral cooperation, streamlining trade licenses, modernizing border facilities, and developing free zone and cross-border tourism in key border ports. It is important to comprehensively address the issues that limit Mongolias capacity to participate in global and regional value chains.
Impact
Mongolias trade increased and export diversification promoted |
