Asia Economy

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Chapter | Economy from The Report: Mongolia 2014

Having an estimated $1.3trn in mineral deposits at current market prices, Mongolia holds great promise for investors. With GDP standing at just $10.3bn in 2012, a single large project has the potential to significantly boost foreign direct investment and growth. The core budget deficit declined from $319m in 2012 to $178m in 2013, equal to 1.7% of GDP; however, off-budget spending was rising. The...

Chapter | Trade & Investment from The Report: Mongolia 2014

With its position adjacent to two of the world’s largest economies, Russia and China, Mongolia’s trade potential holds significant appeal for foreign investors. Furthermore, just as it strives to diversify the sources of its foreign direct investment, the country’s policy of cultivating “third neighbours” is set to broaden trade patterns geographically and should gradually improve the terms of...

Chapter | Country Profile from The Report: Mongolia 2014

Mongolia is home to a vast desert in the south, large freshwater lakes in the north-west and dry, grassy plains throughout most of the rest of its territory. Although its borders stretch 8220 km, its only neighbours are the superpowers Russia and China, a fact that has shaped much of Mongolia’s political and economic history. The country has a vast wealth of mineral resources – over 6000 deposits...

HOTEL ULAANBAATAR Grand Chinggis Square, 14 Ulaanbaatar 14192 T: (+976) 1132 0620 F: (+976) 1132 4485 info@ubhotel.mn www.ubhotel.mn Rooms: 22 standard single rooms, 20 standard twin rooms, 20 superior rooms, 35 deluxe rooms, seven junior suites and a presidential suite. Business & Conference: Four private dining rooms and four conference...

Sports in Mongolia have long been dominated by three activities closely related to the country’s traditions: wrestling, archery and horse racing. However, as the country began to develop economically, there was an influx of Western culture, including sports. Today, a number of sports are becoming more popular among Mongolians, especially in...

ETIQUETTE: A handshake usually accompanies a first introduction in a business setting and is used both as a greeting and farewell. Although people in the urban centres are less strict about local customs when greeting, it is customary and seen as a sign of respect to offer things (business card, pen, etc) with your left hand under your...

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