Representatives from Mongolia’s key ministries met with Singaporean officials to discuss the Sovereign Wealth Fund and public policy practices from May 27 to 28, 2024.

TO ensure the effective implementation of the Sovereign Wealth Fund and intensify its activities, representatives from Erdenes Mongolia, the Ministry of Finance, the Ministry of Labor and Social Protection, the Ministry of Construction and Urban Development, the Cabinet Secretariat, and the Bank of Mongolia visited Singapore on May 27 and 28, 2024. The meetings were organized by the Mongolian Embassy in Singapore and attended by Chargé d’Affaires M. Bilguundemberel.

The delegation, led by Mr. S. Narantsogt, Executive Director of Erdenes Mongolia, was received by the Chief Executive Director of Singapore Cooperation Enterprise, Mr. Kong Wy Mun, along with North Asia and Middle East Director Tan Poh Teck, and other distinguished representatives from Singapore, including former Government Investment Corporation Chief Economist Mr. Freddy Orchard, former Central Provident Fund Board Finance Director Mr. Woo Siew Cheong, former Deputy Solicitor General Mrs. Owi Beng Ki, and various advisors.

During the visit, the consultants from the Singapore Cooperation Enterprise and Singaporean representatives presented the results and recommendations of their collaboration with the Mongolian Ministry of Labor and Social Protection, which began in 2022. The focus was on creating a Central Provident Fund system tailored to Mongolia’s needs, as well as sharing best practices in managing Singapore’s Sovereign Wealth Fund and public housing policies.

Source: Embassy of Mongolia in Singapore