Interview: BoldsaikhanUsukh What efforts are being made by the government to capitalise on Mongolia’s agriculture potential? BOLDSAIKHAN USUKH: Today, special emphasis is given to the farming of crops, with investment of between $100m-200m over the next few years set to improve crop farming technology and make it more environmentally friendly. To this end, concepts such as zero tillage and…
Interview: Sambuu Demberel How is the government supporting cooperation with the private sector? What else can be done? SAMBUU DEMBEREL: Public-private dialogue, collaboration or cooperation is a long and tireless process. Without regular and meaningful consultation with the private sector it is not possible to make successful and effective policies, regardless of the industry. Such consultations…
Interview:Norolkhoojav Battulga What challenges could local IT companies face with the arrival of more foreign players in Mongolia? NOROLKHOOJAV BATTULGA: Before talking about foreign involvement, we have to talk about the size of the local market. Currently, the Mongolian market does not have room for a large-scale expansion of foreign IT companies. At this point, big foreign players open…
Interview:Oyungerel Tsedevdamba How can cooperation between different tourismbodies be improved to raise international awareness of Mongolia as a tourism destination? OYUNGEREL TSEDEVDAMBA: Our efforts are guided towards realising this. Mongolia is going to be the partner country for ITB Berlin 2015. We have tourism authorities established in everyprovince and the ministry…
Interview:David Holliday Which value-added services will drive growth for Mongolian mobile operators in the medium term? DAVID HOLLIDAY: As tablet and smartphone penetration levels become more prevalent, the demand for data will grow exponentially. People are gravitating much more towards new applications for their mobile devices, and this shows that many Mongolians are hungry for cellular…
Interview:Peter Markey How does Mongolia’s corporate tax structure compare to other developing countries in the region? PETER MARKEY: Mongolia has a two-tier corporate tax structure where the first MNT3bn ($1.8m) of taxable income is taxed at 10% and above that at 25%, which is unusual. The 10% rate is very low on an international level. Most countries are between 10% and 20%. The 20% to…
Viewpoint: David Johnston Though separated by vast physical distance, Canadians and Mongolians are united by common bonds that transcend geography. This happy state of affairs was evident during my state visit to Mongolia in 2013, undertaken on the 40th anniversary of diplomatic relations between our two countries and the fifth anniversary of the opening of the Canadian Embassy in Ulaanbaatar. One…
Viewpoint:José Manuel Barroso Over the centuries, Mongolia and Europe have been much closer than you would think from looking at a map. Our destinies were tied together in the 13th and 14th centuries when the Pax Mongolica enabled East and West to meet for the first time in history and to travel freely along the silk route which the Khan dynasty secured as a free trade route. Despite the historic…
Viewpoint:Bayanjargal Byambasaikhan The economy has made great strides, having grown tenfold over the past decade. In 2013, Mongolians were able to find the answer to a key question: “Where will Mongolia be in 2020, 2030, 2040 and 2050?” For the first time, there is a consensus amongst businesses, media, central and local governments, politics and academia on Mongolia’s roadmap for economic…
I am often asked by foreign investors about my perception of Mongolia’s economic prospects. In the short term, there are a number of hurdles that need to be overcome in order to improve the country’s legal framework and facilitate greater economic activity. Over the long run, however, there seems to be a strong political will to continue strengthening Mongolia’s legal structure in the effort…
