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As roads are being built, and as related infrastructure is developed, Mongolia’s connectivity and logistics are greatly improving. Significant investments in transportation have been made in recent years, especially in 2013, and more are expected. The government is spending $200m to revamp 33 intersections in Ulaanbaatar, and it has set the goal of connecting all of Mongolia’s 21 provinces to the...

Despite abundant reserves of coal and rich potential for wind, solar and hydroelectric power, Mongolia has lagged in exploiting its natural resources. From generation to transmission to distribution, the country’s power infrastructure is outdated, and reliance on foreign imports is growing. Aware of this, the government has been pushing to fast-track a range of projects that, if successful,...

The mining sector is a major contributor to the local economy, accounting for 22% of GDP, 61% of industrial value-added, 94% of exports by value and 85% of foreign direct investment in 2012, according to figures from the National Statistics Office. Mongolia’s main proven reserves include coal, copper, hard-rock and placer gold, silver, iron ore, molybdenum, fluorspar, zinc, tungsten, lead, tin,...

Mongolia’s insurance industry is expected to grow rapidly over the next few years as the economy expands and more firms and individuals become familiar with insurance products and the need to be covered. The market is open – a rarity in Asia – and international investors and strategic partners are taking a close look at potential acquisition targets and partners. With the state controlling the...

For the Mongolian Stock Exchange (MSE), 2013 was a year of transition. While performance remained weak and trading was exceedingly thin, preparations were being made for a comeback. The hope is that the foundation has been set to make 2014 a year of recovery for the market. Under previous legislation custodian banking was not available; however, under a new law, international investors will not...

Mongolia’s banking system is relatively young and untested, and, therefore, the Central Bank of Mongolia is facing a range of challenges. One such example is the rapid drop in the tugrik, which lost approximately 20% of its value over the past year, placing pressure on the banking system but also reducing the price of exports. Currently, there are no limitations placed on foreign ownership of...