Wednesday, January 27, 2016

CEO E. Temuulin Sets Out Role of UBDC and PPPs in Ulaanbaatar City Development

CEO of UB Development Corporation JSC Mr. E.Temuulin set out the role of “UBDC” and “Public-Private Partnerships” in the UB City’s development.

January 26 -- The “UB Procurement 2016” business forum, organized by the UB City Administration in cooperation with the UB City Chamber of Commerce was successfully held for the second year at Shangri-La Hotel on January 20th, 2016.

The Forum was attended by over 1,000 delegates including Cabinet members, UB City Council representatives, and members of the UB City Chamber of Commerce, as well as international organizations, investors and business representatives.

During the Forum, CEO of “UB Development Corporation” JSC (UBDC) Mr. E.Temuulin set out the role of “UBDC” and “Public-Private Partnerships” in UB City’s development.

Explaining the background to UBDC’s establishment, Mr. E.Temuulin outlined the corporation's three main purposes.

The corporation will focus on the implementation of development projects under the principle of Public-Private Partnership through cooperation with the private sector. This aims to improve the economic competitiveness of UB City in support of the “UB City Master plan” which runs until 2030. It also aims to develop the city in a sustainable way in line with the UB City’s economic development strategy.

The corporation will also focus on establishing a Development Fund as well as issuing domestic and international bonds in order to implement UB City’s development projects utilizing some city properties.

UBDC also aims to build a one-stop shop services for the UB City’s business and promotional activities, increasing investment and driving the development of UB’s economy.

Also during the Forum, CEO of “UBDC” JSC Mr. E.Temuulin signed three MOUs. These were with Korean firm HC Corporation LLC, Russian Morton Euroasia LLC, and Bureau Veritas from France. The Memorandums relate to road, bridge, infrastructure construction, and professional quality control in the construction sector and food industry.

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