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The Cabinet of the government of Mongolia met this week and agreed to initiate new pilot projects with the goal to alleviate poverty. The specific poverty reduction proposals originated in the governmental action plan for 2016-2020 and seek to improve access to long-term sustainable employment throughout Mongolia.
Foreign investment in a variety of economic sectors throughout Mongolia will be critical in meetings the government’s employment goals, and a stable economy with lower unemployment should be more attractive for foreign investment.
Also, this week the cabinet revised rules regarding evaluation of real estate values, with the intent to modernize the regulation to account for current industry best practices. The old rules had not been updated since 1996. The revised rules are expected to help rationalize the real estate market.