(MENAFN- IANS) Ulan Bator, July 8 (IANS) The ruling Mongolian People's Party (MPP), the main opposition Democratic Party (DP), and the Hun Party, meaning "Person" in Mongolian, signed a memorandum of understanding (MoU) on Monday to form a coalition government, following regular parliamentary elections held on June 28.
In the ninth parliamentary elections, the MPP secured a narrow margin of victory, winning 68 of the 126 seats, while the DP obtained 42 seats. The Hun Party secured eight seats, with the Civil Will-Green Party and the National Coalition each securing four seats, reported Xinhua news agency.
The decision to form a coalition government aims to swiftly address Mongolia's development challenges, consider the critical international relations and geopolitical situation, and emphasise national unity, according to the parties.
After signing the MoU, Luvsannamsrai Oyun-Erdene, Mongolian Prime Minister and chairman of the MPP said, "Our country's government has had an average life expectancy of 1.5 years, and development policy planning has been unstable since 1990. Many projects that have been initiated remain unfinished and undergo continuous changes without reaching completion."
"The memorandum aims to change this situation, quickly solve the problems of development, and send a message to foreign investors that Mongolia is a more stable and trustworthy country," he said.
Luvsannyam Gantumur, chairman of the DP, affirmed their coalition participation with a focus on economic growth, livelihood improvement, a healthy business environment, and individual freedoms.
Togmid Dorjkhand, leader of the Hun Party, expressed his confidence that Mongolian politics, especially at the government level, is now adopting a completely new attitude, culture, and structure.
"Over the past 30 years, our country has operated under a two-party system marked by excessive partisanship and mutual blackmailing, which has resulted in lost development opportunities. Today's decision prioritises the interests of the country over those of individuals and parties," said Dorjkhand.
In May 2023, the Asian country's parliament, also known as the State Great Khural, passed amendments increasing the number of legislators from 76 to 126.
The elections were conducted under a mixed electoral system, with 78 legislators elected through majority representation and 48 through proportional representation.
The Asian country's parliament operates under a unicameral system with a four-year term.
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