It is now impossible to imagine the economy of Mongolia without Oyu Tolgoi. A number of changes have occurred since the Oyu Tolgoi project began. It was Oyu Tolgoi that played a significant role in the 17 per cent growth in the economy as it infused 7.8 trillion MNT into the economy before the start of operations. In addition, in 2011 an advance payment of 300 billion MNT was transferred to the Government of Mongolia and a total sum of 900 billion MNT will be transferred to the Government of Mongolia as taxes, payments and fees before 2013 when mine production is scheduled to start.
Mongolia is set to develop and grow as more citizens are employed and earning wages. Oyu Tolgoi has been contributing to the business development in Mongolia by creating thousands of new employment opportunities. As of today 9,621 Mongolians have a hand in this massive project. Half of the employees in all company departments are now Mongolian nationals. Further, it is expected that 90 per cent of the overall workforce in the operational phase will be Mongolian. All company employees receive an above average salary and more than 73 per cent of the total employees are highly specialized. Also, according to the figures, Oyu Tolgoi procured 1.7 trillion MNT from over 1000 Mongolian business entities in 2011.
The most appropriate course of action is not to help a man just once, but to train him and enable a lifetime of income opportunity. Similarly, Oyu Tolgoi invests in education and has started to train and prepare the workforce of the future. In this regard, Oyu Tolgoi initiated a training program that cost 110 billion MNT, the largest ever in Mongolia. For the first time, the company is building three Vocational Training Centres and rehabilitating 4 Vocational Training Centres in 7 cities and settlement areas across the country. Oyu Tolgoi has trained 3,300 young Mongolians nationwide and is carrying out a capacity building training programme for 1,200 Vocational Training Centre teachers. As such, the successive programs, characterised by its emphasis on words such as ‘the first’ and ‘the most’ are in order for successive implementation.
If we take a family analogy, Oyu Tolgoi has already assembled its Ger and the secured the Crown Cover ('Orkh') on top of the structure. Oyu Tolgoi is making a large investment in construction and development projects. This is just the beginning…
Leave a Reply
You must be logged in to post a comment.