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Interview

OBG talks to Jim Dwyer, Executive Director, Business Council of Mongolia
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Interview:Jim Dwyer How might the new investment law affect foreign direct investment (FDI) in 2014? Is the new law enough to bring back investors’ confidence? JIM DWYER: Foreign investment in Mongolia is key, as it should be a major part of the country’s development in coming years. The previous investment law dried up and stopped new foreign investments coming into the country. FDI levels,…
Interview

OBG talks to Jim Dwyer, Executive Director, Business Council of Mongolia
OBG
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Interview:Jim Dwyer How might the new investment law affect foreign direct investment (FDI) in 2014? Is the new law enough to bring back investors’ confidence? JIM DWYER: Foreign investment in Mongolia is key, as it should be a major part of the country’s development in coming years. The previous investment law dried up and stopped new foreign investments coming into the country. FDI levels,…
Interview

OBG talks to Randolph Koppa, President, Trade & Development Bank
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Interview: Randolph Koppa Could the Savings Bank case affect the reputation of Mongolia’s banking sector in the short term? RANDOLPH KOPPA: By late 2008 and early 2009, Savings Bank and Mongol Post Bank each had high levels of non-performing loans. They merged, although no real fresh capital was brought in, and Savings Bank was given a chance to keep going. It could not correct its problem loans…
Interview

OBG talks to Ayumi Konishi, Director-General, East Asia Regional Department, Asian Development Bank (ADB)
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Interview: Ayumi Konishi What sectors other than mining present big investment opportunities in the medium to long term? AYUMI KONISHI: With vast markets on its doorstep, Mongolia can benefit greatly from trade, but the key challenge will be to create jobs at home. We have seen that mining can bring rapid growth, but this does not benefit much of the labour force. While exports are currently dominated…
Interview

OBG talks to President Tsakhiagiin Elbegdorj
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Interview:President Tsakhiagiin Elbegdorj With a new investment law in place, what are the next steps for your administration to ensure the long-term stability of investments in Mongolia? TSAKHIAGIIN ELBEGDORJ: Mongolia is a country that is capable of fixing past mistakes. It is an open country, and we need investments if we want to avoid capital shortages, currency depreciation and inflation.…
Interview

OBG talks to Prime Minister Norovyn Altankhuyag
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Interview:Norovyn Altankhuyag What areas of Mongolia’s economy have the most potential to contribute to GDP growth and achieve greater diversification? NOROVYN ALTANKHUYAG: Since 2012, we have been trying to diversify our economy, and we are currently having discussions and taking actions in this direction. Agriculture is an area that has great potential for growth, especially in animal husbandry,…
Interview

OBG talks to Roger Gifford, Alderman and Former Lord Mayor of the City of London
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Interview: Roger Gifford Which sectors provide opportunities for cooperation between the City of London and Mongolia? ROGER GIFFORD: The opportunities for London-based services in Mongolia are mainly around financial services, banking, infrastructure financing and accounting law. In addition, there is also potential for design and project management service, but in any case, we need to have a better…
Interview

OBG talks to Fumio Kishida, Minister of Foreign Affairs for Japan
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Interview: Fumio Kishida Looking forward, what will be Japan’s strategy to developing its ties to Mongolia? FUMIO KISHIDA: As everyone in Mongolia is aware of, many Mongolian sumo wrestlers have had great success in Japan since the 1990s. Mongolia is therefore a country that Japanese people have a great affinity for. Additionally, will never forget that Mongolia has extended warm support to Japan…
Interview

OBG talks to Chultem Ulaan, Minister of Finance
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Interview: Chultem Ulaan What instruments are at your disposal to reverse the trend of depreciation in the turgik and ensure its stability in the long term? CHULTEM ULAAN: Providing stability for the national currency is one of our fundamental goals. Much of the government’s budgetary and economic activities are directed towards achieving this. The ministry of finance has conducted an in-depth…
Interview

OBG talks to Tsagaan Puntsag, Chief of Staff, Office of the President
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Interview: Tsagaan Puntsag What short-term impact might the “From Big Government to Smart Government” initiative have? TSAGAAN PUNTSAG: For the last 20 years, Mongolia has conducted a dual political and economic transition, and we have achieved quite a lot. Yet, we have failed to reduce government inefficiency. Today, we have an electoral democracy, though with shortcomings. After much deliberation,…