Mongolia

As the mining sector moves from potential to actual production, one of the main challenges is to streamline the licensing system. Decisions in the past have left the country exposed to licence hoarding, environmental concerns and corruption.

Since it first held a general election, back in 1990, Mongolia has had a series of nationwide ballots, both for its parliament, the State Great Khural (SGKh), and for its president. The year 2012 sees elections for the SGKh held once again, with a variety of parties, groups and factions vying for power.

In the two decades since Mongolia’s economy shifted to capitalism, it has endured several boom-bust cycles in its financial sector, as banking services professionals adjusted to their new paradigm and began learning the basics of risk management. Assets grew at a rapid pace nonetheless, with a compound annual growth rate (CAGR) of almost 32% from...

Forecast to be one of the world’s fastest-growing marketplaces over the next two decades, Mongolia’s economy is developing rapidly. The country’s resource wealth and open, liberalised market are attracting increasing interest from international investors and putting it in the global spotlight.