Mongolia’s government recognizes its incapacity to accomplish its duties. So they started to hire foreign management in state-owned enterprises already. The question is, should Mongolia’s government continue in this approach or identify and remove the roots of the inaptitude?
For 14 million USD, our government invited a managing team from the London Stock Exchange as a replacement for the executives of Mongolia’s Stock Exchange with hope to awaken the national stock exchange from its long hibernation to raise to an international level.
The Korean Development Bank will manage the newly founded Mongolian Development Bank. The Korean government agreed to cover the costs. As the state owned monopoly in aviation, MIAT company recently parted company with the Irish management team from which they long struggled to rid themselves, but the government is planning to hire another foreign management team and pilots.
While we are at assiduously importing management teams from abroad, based on the logics of efficiency let us additionally propose replacing first of all heads of the Supreme Court, Prosecution, Anticorruption Agency, National Audit Agency, Constitution committee, and the capital city mayor with foreign directors as well. For an ambitious change, bringing the Prime Minister and several other Ministers from the UK or Singapore for example would be very productive. Indeed, many countries such as Poland, Estonia, Croatia to name a few have a history of inviting their ministers and leaders from abroad to keep away undesirable national factors.
It is a considerable idea. We could solve problems in public governance by allowing governments of highly developed nations tackle the issues. Mongolia’s budget would be significantly decreased, so would our corruption level if we entirely give the right to operate to foreign directors. Public investment would not disappear in part by little or big on its way to the final designation, productivity would grow as Mongolian public governance would begin to follow laws and standards. With reduced corruption number of politicians and their promises would decline, citizens would depend on themselves to provide for their families and collaborate to remove all obstacles standing in their way to progress. This would altogether deflate the influence of today’s politicians. That is why for them it is a bad idea.