In Mongolian The current drive in Mongolia to promote growth and foreign investment appears likely to yield results, as a key breakthrough in a long-running dispute over the expansion of a mine will help act as a stimulus for a 10-year, $1bn sovereign issue in the coming months. While growth is expected to ease to 5.3% this year, down from 7.8% in 2014, the economy is on course for a rebound in…
In Mongolian An improving investment climate, supported by a raft of transport infrastructure upgrades, should help to boost Mongolia’s tourism sector this year, with the upper end of the market set to enjoy above-average growth. Business sentiment is expected to improve in Mongolia, following the news that the government and Rio Tinto have reached an agreement on the expansion of the Oyu Tolgoi…
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In Mongolian A shift by Chinese buyers away from foreign suppliers to Mongolian coking coal, combined with increased optimism over a return of foreign investors, may offset the sharp global downturn in both demand for commodities and in coal prices, though it will be some time before the effects of any rebound are felt in the industry. Despite the slowing of the Chinese economy, demand for energy,…
As is the case in many developing markets, insurance inclusiveness is becoming an area of interest in Mongolia. After years of pilots, experiments and one-off commercial efforts – and some notable successes – momentum is building and micro-insurance is set to go from a concept to a business. Considerable institutional and regulatory support is being offered and an environment is being created to…
Recording steady expansion, the Mongolian insurance sector’s prospects are good despite the difficulties faced more generally in the economy. Premiums hit MNT93.9bn ($56.3m) in 2013, up from MNT79bn ($47.4m) in 2012 and MNT6.32bn ($3.8m) in 2003, according to the Financial Regulatory Commission (FRC). Other sector indicators, such as premiums per person, premiums per capita, capital and total compensation,…
Interview:D. Bolormaa How has compulsory insurance increased awareness of products amongst the general population? What more can be done to raise awareness? D. BOLORMAA: As a rule, government decisions and policies that support insurance firms have a significant effect on the industry. It has been observed that the insurance industry of Mongolia has a tendency to prosper in connection with…
As is the case in many developing markets, insurance inclusiveness is becoming an area of interest in Mongolia. After years of pilots, experiments and one-off commercial efforts – and some notable successes – momentum is building and micro-insurance is set to go from a concept to a business. Considerable institutional and regulatory support is being offered and an environment is being created to…
A fledgling producer of iron ore, molybdenum, fluorspar and zinc alongside its big three minerals – copper, gold and coal – Mongolia’s extensive deposits hold significant promise for further diversifying output. However, moving from exploration to mining for new minerals such as uranium and rare earths will depend on high-level government support. While output of resources such as iron ore, molybdenum…
A perfect storm of falling commodity prices and policy changes since May 2012 has taken its toll on mining investment, heightening fiscal pressure on the state to rebuild investor confidence. Having repealed the restrictive Strategic Entities Foreign Investment Law (SEFIL) with the new Investment Law of October 2013, which grants equal treatment to local and foreign investors, an investor-friendly…
