Legislative changes in early 2012, like the Strategic Entities Foreign Investment Law (SEFIL), combined with a global trend of capital outflow from developing countries, unnerved investors and led to 17% and 47% year-on-year drops in foreign direct investment (FDI) in 2012 and the first three quarters of 2013, respectively. In November 2013, the...
Following a mining-related boom in exports and foreign direct investment (FDI), from mid-2012 Mongolia’s rapid economic growth faced the challenges of trade deterioration and falling commodity prices and demand on the one hand, and global and regional uncertainty on the other. The Oyu Tolgoi (OT) gold and copper mine that had emerged as a beacon...
For a relatively young democracy, Mongolia has taken giant steps in developing its socioeconomic and political system. The values of democracy are today very much instilled in Mongolian society, which is significant given the country’s socialist past. Economic development has also been a major achievement in recent years, as the country has seen a significant inflow of...
The government in Mongolia has revealed plans to support domestic export manufacturers, with the aim of reducing a burgeoning import bill and boosting the country’s economic foundations. Prime Minister N. Altankhuyag said at a press conference in January 2014 that the government would allocate $216m from the $1.5bn raised by the sale of “...
Mongolia is striving to establish a coherent investment regime, following two years that have damaged investor sentiment. Authorities recognise the need for foreign direct investment (FDI) to develop and leverage its estimated $1.3trn in mineral endowment to develop a diversified economy. Adjacent to two of the world’s largest economies, trade...
Since Mongolia emerged from the break-up of the Soviet Union two decades ago, it has developed a strong commitment to democratic governance and economic liberalism, a commitment that it has demonstrated via six presidential elections and seven parliamentary ones, and its democratic institutions have rapidly matured, despite the substantial...
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