Erdenes Industrial and Technology Park
The Erdenes ITP LLC was established as a 100 percent subsidiary of Erdenes Mongol LLC by Government Resolution No.257 of 2023. In accordance with the Law on the Legal Status of Industrial and Technological Parks, approved by the State Great Khural in 2022. As the management company for industrial and technological parks, it serves as a development platform for park units, offering consulting services at all stages, including planning, investment, construction, and operation.
Vision
To play a leading role in Mongolia’s industrial development by
efficiently advancing the industrial chain and driving national growth through
the production of value-added, technology-driven products from mineral
resources.
Mission
To positively impact the quality of life for all citizens by fostering independent and sustainable economic development, introducing advanced technologies, implementing environmentally friendly green production, and enhancing the social and cultural environment through the training of a highly skilled workforce.
Vision 2050
Mongolia’s long-term development strategy, Vision 2050, designates the period from 2021 to 2030 for economic structural reforms aimed at enhancing competitiveness and developing both heavy and light industries to substitute imports and increase exports. This phase will emphasize responsible mining practices and the expansion of mineral processing capacities.
“2021-2030” This is a period for initiating economic structural reforms, enhancing competitiveness, and developing heavy and light industries aimed at import substitution and export.
“2031-2040” During this time, the goal is to fully meet the domestic needs for heavy, light, energy, and construction materials production while intensively developing export-oriented production.
Industrial Revitalization
3.1 Fully digitize the granting of mineral resource special permits to reduce costs, increase investments, and enhance the volume of value-added mining products based on advanced technology, thereby increasing guaranteed mineral reserves.
3.2 Develop value-added heavy industry to meet domestic construction needs and increase exports.
14 Mega Projects
9. Commission the coal-chemical and coke-chemical complex.
10. Commission the copper processing complex.
11. Commission the steel complex.
3.3.1.5 Commission heavy industries such as the coke-chemical complex, coal-chemical complex, copper processing complex, steel production complex, tungsten ore processing complex, and construction material production complex to process value-added products.
FAVORABLE ENVIRONMENT FOR INVESTMENT
The ITP projects, established across six locations by the Erdenes Mongol Group, aim to create a stable and conducive business environment by offering favorable infrastructure conditions, including legal frameworks, taxation, human resources, water, and energy supply, to both foreign and domestic investors, as well as surrounding deposits and private sector enterprises.
The same standards, incentives, and support will apply equally to public, private, foreign, and domestic investors operating within the parks.
These Industrial and Technology Parks will foster industrial integration by establishing a production chain among them, creating opportunities to produce value-added end products using both raw materials and intermediate products generated within the parks.
About 80% of the total investment in ITP projects is planned to be executed by the private sector, as well as foreign and domestic investors.
INDUSTRIAL AND TECHNOLOGY PARK
GENERAL PRINCIPLE
INDUSTRIAL AND TECHNOLOGY PARKS RESOURCES 6 CITIES – 6 ITP’s
ECONOMIC GROWTH
With the implementation of six industrial and technology park project, Mongolia’s gross domestic product (GDP) is projected to grow by 39.2 percent above normal growth levels by 2035.
