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Overview

Mongolia's tourism sector looks to its natural assets to secure its future
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The tourism industry has taken on an increasingly central role in Mongolia in recent years. In 2013 the country saw more than 415,000 incoming visitors and a reported market turnover of $263m, which represented around 4% of GDP at the end of the year, according to data from the government and Internationale Tourismus-Börse (ITB) Berlin. Indeed, in 2015 Mongolia served as the partner country at ITB…

Overview

Key details about the tax environment in Mongolia
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Foreign investors that are looking to engage in business in Mongolia must be aware of the local tax code and regulations. The following provides an overview of the common concerns and questions facing those who engage in business in the country and are attracted to the wide range of opportunities afforded by Mongolia’s rich mineral resources. Accounting Regulations The Mongolian Accounting Law…

Overview

Attracting foreign investment to Mongolia the motivation for new laws
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With the dramatic decrease of foreign direct investment (FDI) over the past year or so, Mongolia’s lawmakers have done much – including consulting with various stakeholders – to kick-start the economy. A number of new laws and regulations have been passed in the hope of creating a legal framework that will be more appealing to foreign investors. As may be expected in a fast-growing emerging…
Interview

G. Batsukh, Chairman, Oyu Tolgoi: Interview
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Interview: G. Batsukh Could you update us on production and sales during phase one of the Oyu Tolgoi mining project? G. BATSUKH: We have a strong open pit up and running, and production and sales are progressing well. We made a smooth transition from construction to operation, and we are continuing to work on safely optimising production and ramping up sales. Oyu Tolgoi produced 148,400 tonnes of…
Interview

George Lloyd, Managing Director, Xanadu Mines: Interview
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Interview: George Lloyd From an exploration standpoint, what is your opinion on the overall potential of Mongolia? GEORGE LLOYD: It is widely recognised that Mongolia has huge exploration potential, but it is still vastly under-explored relative to more established resource-rich countries like Australia, Canada and Chile. While the country has substantial deposits of bulk commodities such as coal…
Interview

J. Oyungerel, Chairman, Petrovis: Interview
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Interview: J. Oyungerel How has the economic downturn affected demand for petroleum products? J. OYUNGEREL: Mongolia’s mining sector is heavily dependent on demand from China, especially for coal, which has decreased sharply over the past two years. As a result, the petrol market has seen a substantial reduction in wholesale volumes. That said, this negative trend has been largely offset by a…
Interview

Gérard Mestrallet, CEO, GDF SUEZ: Interview
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Interview: Gérard Mestrallet How will the major power projects currently under way impact Mongolia’s energy infrastructure? GERARD MESTRALLET: Along with domestic and international investors, the Mongolian authorities have identified several projects that would help the country to meet its growing energy needs. Multinational corporations are uniquely placed to support these projects with…
Interview

Batsaikhan, Former CEO, Mongolian Railways (MTZ): Interview
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Interview: P. Batsaikhan What impact will the standard gauge bill have on plans to expand the country’s rail network? P. BATSAIKHAN: As the state-owned enterprise responsible for implementing the government’s railway policy, MTZ will build according to the specifications set out by Parliament, whatever they may be. That said, there are various issues still to be resolved, such as how much money…
Interview

T. Lkhagvasuren, Director-General, Civil Aviation Authority of Mongolia: Interview
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Interview: T. Lkhagvasuren How can Mongolia’s potential as a regional aviation hub be developed? What is currently being done to attract greater volumes of air traffic? T. LKHAGVASUREN: Mongolia is one of the world's largest land-locked countries and therefore the development of the air transport industry will have a major positive impact on economic growth. The sector is considered strategically…
Interview

G. Batdorj, Executive Director, Khutul Cement Shohoi JSC: Interview
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Interview: G. Batdorj What is the importance of increasing Mongolia’s cement production capacity? G. BATDORJ: Mongolia has a sizeable cement market thanks to booming commercial and residential construction sectors, as well as the new airport and highways. The country’s vast territory and corresponding infrastructure needs (e.g., roads and railways) require a steady supply of high-quality cement.…