Ending plutocracy: Oyun-Erdene's plan

Harvard-educated Mongolian Cabinet Secretary Oyun-Erdene (third most popular politician after Khurelsukh and Battulga) gave extensive interviews on print and on national TV before the election, in which he won more 70% popular support on June 24.

Oyu-Erdene (aged 40) was picked by Khurelsukh in Feb 2019 when a cabinet secretary's position was vacated by Zandanshatar who replaced M.Enkhbold as a new parliamentary speaker.

Oyun-Erdene is largely viewed as Khurelsukh's protege and is expected to keep his key position or even promoted to Deputy Prime Minister's position. 

Below are the key points of Oyun-Erdene's interviews:   

- Super-wealthy few private individuals and firms (especially banks and mining companies) have controlled state policies and laws in their favor for the past 15 years.

- They have bought and bribed top politicians from MPP and DP (Enkhbold, Elbegdorj, Saikhanbileg). Parties turn to them to raise political financing because money is concentrated in banks and mining. It's our resource curse.

-Elbegdorj (benefited from Erdenet kickbacks) is now indicted while ex-PM Saikhanbileg is now on the run in the US - both of them bought by Trade Development Bank (TDB). Elbegdorj received kickback from Erdenet Mining's copper sales and he will be indicted and tried soon.

- They also captured a wide range of state institutions, including the legislature, executive, ministries and the judiciary. For example, the National Security Council was wiretapped and the President, the PM and the Speaker had to exchange written notes to each other during the NSC meeting (Oyun-Erdene didn't specify when it happened) alleging that the intelligence office was bought by private interests.

- MPP dropped their own 22 MPs from re-election to drain the swamp. We're cleaning up state institutions step by step.

- Today TDB bank captured and corrupted DP'snomination process by sponsoring a dozen young candidates.

-Privatization and deregulation over the past 30 years have failed. Private ownership does not necessarily translate into improved efficiency. I stopped TDB's attempts to privatize public lands next to Sukhbaatar square and UB hotel. They crossed the line.

- Erdenet's leveraged buyout of 49% from Russians in 2016 was illegal. TDB tried to register Mongolian Mining Corporation in Singapore to bring disputes with the government at the international arbitration court. I stopped it by decreeing a special regime on Erdenet Mining last year.

Oyun-Erdene focused mainly on the example of how TDB bank captured the state over the past decade signalling he was ready to go after other large businesses that allegedly "bought" government, such as MCS and MAK.

Source: Mongolian Business Database

What is clear today is that from the 10 richest people of Mongolian President Battulga is so far getting upper hand while others either are persecuted (e.g. Erdenebileg), shattered (Odjargal), harassed (Nyamtaishir) and losing parliamentary election (Lu.Bold).

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