Saker Resources Mongolia LLC Plays a Pivotal Role in the “New Recovery Policy”
In line with the ambitious “New Recovery Policy” proposed by the Government of Mongolia, an impactful event unfolded on December 15, 2023 – the “INVEST BAYANKHONGOR: Investment Conference.” This conference aimed to amplify economic growth, fortify public-private partnerships, and cultivate a favorable investment climate conducive to production and increased local employment. Saker Resources Mongolia LLC proudly participated in this significant gathering.
The conference, held in Bayankhongor, brought together key stakeholders, including the National Assembly, government members, ministry heads, representatives from China’s Gansu and Ningxia Hui provinces, along with investors, manufacturers, and entrepreneurs.
At the conference, N. Surenragchaa, Deputy General Director and Operations Director of Saker Resources Mongolia, took center stage. He presented the Khotgor deposit project situated in Shinejinst sum of Bayankhongor Province and inked a memorandum of understanding with the Province’s Governor, D. Mon
khsaikhan. This agreement solidifies a commitment to collaborate on long-term local development projects.
The Khotgor project, once operating at full capacity, is poised to generate more than 3,000 new jobs across mining, transportation, and infrastructure sectors. This flagship initiative is projected to inject 5.9 trillion MNT (USD 1.7 million) into the state budget. Furthermore, the Khotgor project underscores its dedication to local development by allocating 0.25 percent of total sales revenue, amounting to 655.5 million MNT (USD 200,000) per month starting from 2024, to a fund for the upliftment of families residing in the area affected by the Shinejinst bullet.
Saker Resources Mongolia sets the benchmark for responsible practices within the industry. In adherence to social responsibility principles, the company envisages establishing a coal transportation subsidiary company with local families, holding a 51:49 percent ownership stake.
The “INVEST BAYANKHONGOR – Investment Conference,” orchestrated by the Governor’s Office of Bayankhongor Province, emerged as a forum where lucrative opportunities across various economic sectors were discussed. Presentations on mining, construction, infrastructure, food, agriculture, small and medium industry, and foreign relations showcased promising projects and programs. The stakeholders pledged unwavering support to both domestic and foreign investors and entrepreneurs.
Moreover, the post-conference resolution emphasizes the crucial need to support citizens and enterprises relocating from the capital to local areas. A unified policy and stable cooperation will be championed to enhance the competitiveness and economic potential of the region, driving collective progress in tandem with the “New Recovery Policy.”
Saker Resources Mongolia stands committed to advancing responsible practices and contributing to the economic vitality of Bayankhongor Province, aligning with Mongolia’s vision for a robust and sustainable future.
Deputy Director General, N. Surenragchaa, signed an MoU with the Bayankhongor Province’s Governor, D.Munkhsaikhan