EPCRC launches the Mongolia in World Competitiveness 2011 Report

March 05, 2011 – Over 40 guests joined the EPCRC to
officially release the inaugural Mongolia in World Competitiveness
country report, the first of its kind for Mongolia.

Chairman P. Tsaagan was joined by Director Otgochuluu Chuluuntseren
and senior staff to showcase the report and announce preliminary
findings of the report which provides the most in-depth analysis of
Mongolia’s economic and social competitiveness across the areas of
infrastructure, business efficiency, government efficiency and the
macroeconomic environment.

The report establishes new findings about Mongolia’s overall policy
environment and national indicators not previously covered by
alternative benchmark reports including institutional framework
assessments, labor market indicators and international investment data.

The report clearly illustrates that as an emerging economy, many
policy challenges remain that require change if Mongolia’s
competitiveness is to be enhanced. This includes heavy subsidization of
industry which stifles innovation, significant labour skills shortages,
local finance capabilities, infrastructure/ utility bottlenecks and low
results across a number of human development index indicators.

EPCRC Director Otgochuluu
Chuluuntseren noted that such challenges are some of the more entrenched
problems of Mongolia’s national economic and social structure. “As we
expected, the results reveal that no single area of our socio-economic
make up performed better than the other. Macro and microeconomic issues
are equally important, and need to be addressed in Unison. Our report is
a comprehensive tool that will greatly assist this process”.

A few positive notes emerged from the report however, with Mongolia
ranking high against a number of social indicators such as female
workforce participation and social cohesion policies. The report also
clearly indicates Mongolia’s current major inward investment flows, a
significant driver of any emerging market.

“The
next step for us is to now engage with the public and increase their
awareness of how this applies to not just business, but everyone in the
country” said Mr. Otgochuluu. “As a research agency, the EPCRC now has a
mandate to work with our partners to continue our long road towards
development”.