The State Property Committee (SPC) created the Mongolian Stock Exchange (MSE) in 1991 as a vehicle for privatising state assets during the transition to a market economy. Despite early attempts to broaden the share ownership in state firms, shares became concentrated in the hands of a few, and, by 2010, it was estimated that 80% of the market’s capitalisation was owned by a dozen individuals....
Mongolia
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Chapter | Capital Markets from The Report: Mongolia 2013
The main event for Mongolia’s economy in 2013 will be the opening of the Oyu Tolgoi copper and gold mine, which many see as a make-or-break moment. Coal, presently the country’s most important commodity, declined in price by some 15% in 2012, with volumes slipping by around 22%. In 2012 the current account deficit reached 16.7%, excluding mining-related imports, according to the IMF, compared...
Chapter | Country Profile from The Report: Mongolia 2013
With a population of 2.8m inhabiting its wind-swept, grassy steppes and vast expanses of desert, Mongolia is the world’s most sparsely populated country. Its primary religion is Buddhism, though it is estimated that 40% of the population does not practise religion. Ninety per cent of the population speaks Mongolian, most using the Khalkha Mongol dialect, which shares lineage with Turkic,...
Economic update | Mongolia: Year in Review 2012
4 Jan 2013
While Mongolia can look back on a year that began with high expectations for a steady rise in mining-generated wealth, reports of slowing growth and concerns among investors about the risk of resource nationalism cast a shadow over the second half of 2012.
Confidence that Mongolia’s resource wealth will generate unprecedented expansion in its real estate market has seen prices rise and many of Ulaanbaatar’s prime properties snapped up. However, the experience of other countries that have had similar resource-related property growth suggests it may not last forever.
The mobile telephony market in Mongolia is fast maturing, with expanding 2G and 3G coverage set to drive up connections and penetration surpassing 100% by the end of the year.