The 2025 World Financial Discussion board Annual Assembly took place in Davos, Switzerland from January 20-25. To Mongolia, this 12 months’s theme – “Collaboration for the Clever Age” – aligns with its digitalization, technological, and funding objectives. On the sidelines of Davos, Mongolia signed a number of Memorandum of Understandings (MOU) and agreements to broaden and diversify Ulaanbaatar’s financial and enterprise partnerships significantly within the fields of digitalization, synthetic intelligence (AI), and renewable vitality.
At the moment in lots of industries, the event and utilization of AI is sort of unavoidable. As main tech industries in each developed and creating nations pour hundreds of thousands in funding into the worldwide AI race, non-public and public entities have grown exponentially on this particular area and are searching for main investments. What may this imply to creating nations like Mongolia is that the event and the assimilation of AI is coming extra shortly than policymakers can formulate insurance policies to help, handle, and mitigate these newer improvements.
At Davos, Mongolia confirmed the world that it isn’t getting left behind. In accordance to the Ministry of Digital Development, Innovation, and Communications, “Mongolia will formally announce its ‘Nationwide Technique for Synthetic Intelligence’ to the world in February.”
From authorities companies and companies, Mongolia’s tech-savvy younger era calls for fixed innovation, maintaining tempo with the quickly altering tech world, and digitalization.
In response to Oxford Perception’s 2024 Government AI Readiness Index, Mongolia ranked 98th out of 188 nations – advancing 11 positions compared to the earlier 12 months. Within the final 5 years, Mongolia has made large efforts in technological development in AI, digitalization, and even launching its personal satellite tv for pc station with world companions.
The emergence of the AI sector itself has grow to be an vital factor in Mongolia’s financial and third-neighbor partnerships. As Ulaanbaatar promotes and expands AI and area associated partnerships, Mongolia is searching for investments and dependable partnerships to develop its crucial minerals and grow to be a participant within the world provide chain for these industries.
Whereas creating and exporting crucial minerals will nonetheless hold Mongolia’s economic system depending on the mining sector, studying to maximise use of AI and creating world partnerships that may spend money on human capital are extra vital. Bolor-Erdene Battsengel, the previous vice minister of digital growth who not too long ago based the AI Academy Asia, highlighted the necessity to educate and practice the youthful era in AI. Bolor-Erdene told CNN that her academy “goals to practice 500 lecturers to supply AI schooling to rural communities in Mongolia.”
Along with increasing partnerships in AI, on the sidelines of Davos, Mongolia signed an MOU with Envision Energy, a worldwide renewable vitality already contracted to function in Ulaanbaatar. In November 2024, Envision Vitality was contracted to construct Ulaanbaatar’s first battery storage station, utilizing home capital. An expanded MOU will assist speed up Mongolia’s vitality transition, decarbonization, and inexperienced workforce growth.
At Davos, Mongolia was represented by Dorjkhand Togmid, the deputy prime minister, who can be the chairman of the Nationwide Committee on Vitality Reforms. Dorjkhand instructed reporters attending Davos that Mongolia is dedicated to the vitality transition and is prepared to associate with world know-how leaders in pursuing local weather funding tasks. Highlighting Mongolia’s partnership with Envision, he stated, “Envision’s observe file and options will allow us to maximise the potential of Mongolia’s renewable assets and construct a sustainable vitality infrastructure that advantages the area.”
Additionally at Davos, Mongolia and the European Financial institution for Reconstruction and Growth (EBRD) signed a collaboration settlement that see them cooperate on photo voltaic, wind, and vitality storage tasks. Key initiatives below the deal embrace technical help, feasibility research, and complete environmental assessments for hydroelectric powerplants. The objective is to assemble and graduation of as much as 300 megawatt (MW) of solar energy vegetation and 200 MW of wind energy vegetation with vitality storage, together with transmission infrastructure, by 2028. In 2024, the EBRD provided 264 million euros for tasks in Mongolia.
The Mongolian authorities’s objective to realize “sustainable financial progress, vitality safety, and growth of inexperienced industries” is a long-term ambition, however leaders are beginning now with the help of Mongolia’s world companions, who can present each funding and know-how.
On the 2025 World Financial Discussion board, Mongolia’s delegation pursued alternatives to draw funding in all issues AI, together with schooling, coaching, and the event of AI in companies and authorities companies. Nevertheless it stays a problem to draw and allocate investments towards Mongolia’s digital sector and cut back the digital divide. The profitable implementation of those newer initiatives and AI-related engagements will little doubt diversify Mongolia’s mining-dependent economic system and may have immense impression on its human capital.
