Country: Mongolia
Duration: 2021-2022
Themes: Strengthening the Business Enabling Environment
Cross Cutting Themes: Gender, Digital
Anticipated Impact Areas: Quality Jobs, Private Investment, Productivity
The Challenge:
Mongolia¡¯s economy has become highly dependent on commodities exports, especially coal and copper with weak linkages between mining and the rest of the economy. A stronger foundation for a sustainable recovery from COVID-19 should be based on a more diversified and resilient economy. This requires upgrading the investment climate and implementing programs geared towards innovation such as technology adoption and digitalization to help accelerate firms¡¯ transformation and the creation of more and better jobs. Several recent government initiatives aim to promote an improved regulatory and digital environment for businesses in the country.
The Mission:
C-JET is funding a grant that is being implemented by the World Bank in Mongolia to assess and diagnose key binding constraints to private investment and growth, with a focus on business environment and investment climate, and firms¡¯ digitalization and technology adoption. The grant will also support the drafting of a knowledge product with programmatic and policy recommendations. Through the implementation of these activities and more, this grant aims to support the promotion of jobs and economic transformation beyond mining, and foster productivity growth through technology adoption in line with resilient COVID-19 recovery and the Mongolian government¡¯s initiatives.