Two issues facing any prospective investor in a developing nation are what activity is permitted and whether the laws of that country will protect their investment. For several years Mongolia’s tremendous potential has been recognised, not just in terms of its mineral resources, but also in agriculture and renewable power generation. The country treasures its independence, but as a functioning…
Currently, Mongolian legislation allows for several forms of business entities, which include joint stock, joint venture and limited liability companies. Economic and business activities in Mongolia are regulated by a variety of laws, including the Law on Foreign Investment of 1993 and the Company Law of 1999. To establish a registered presence in Mongolia, foreign companies may also choose to operate…
Opportunities for new media outlets blossomed following the fall of the one-party communist regime in 1989-90, with private print and broadcast players entering the market soon after. As of the start of 2012 there were 469 media outlets nationwide. Mongolia has a vast range of outlets, from national newspapers and TV channels to local radio stations broadcasting to herding communities. The country’s…
While it is much improved from its state of near-collapse following the end of the Soviet period, health care has failed to truly recover. Thanks to the work of a number of donors, a few local doctors, and small investments made by international medical groups, it has experienced some improvements. However, the health care industry is underfunded, lacking in qualified doctors, and almost devoid of…
Forty per cent of Mongolia’s population is employed in the agricultural sector, which makes up 15% of GDP. The sector, which involves the raising of livestock for meat and wool, as well as the cultivation of grains and vegetables, has the biggest impact on the lives of average Mongolians. What is particularly encouraging for Mongolia is the possibility of becoming self-sufficient in terms of food,…
Endowed with isolated, unspoilt nature and nomadic Buddhist culture, Mongolia has managed to develop a small but potentially profitable tourism sector that is expanding through support from the government and a focus on the adventure and nature segments. The country’s main sources of genuine leisure tourism over the past decade have been more affluent countries, including Japan, South Korea, North…
Mongolia’s real estate sector is likely to feature fast-rising rents, land values and sales prices for at least the next several years. Per capita GDP is forecast to triple by 2016, creating a jump in buying power that will add to an already short supply of homes in the capital. Thus Ulaanbaatar seems poised to experience major price hikes. There is an increasing demand for housing as the nation’s…
With an overall population density of only two people per square mile, and 40% of the nation living nomadically, providing 3G services has been more challenging than in other countries. However, as of December 2012, 3G services became available in all provinces. With 27% of the population under the age of 15 and a GDP that grew 15.7% per capita in 2011, the number of 3G users is expected to increase…
Although it may never compete with neighbours with well-established manufacturing sectors and economies of scale, Mongolia has the potential to meet domestic needs and produce goods, such as meat and cashmere for export. The move into mass production faces a host of constraints: Mongolia has a small domestic market, poor infrastructure, a growing minerals sector competing for labour and capital, and…
Its sparse population, landlocked location and extreme climate make developing Mongolia’s transportation and logistics infrastructure a challenge. The government is tapping into international markets to address its transportation and infrastructure issues, and in late November 2012 the country raised $1.5bn in a two-part bond offering. Diverse efforts are under way to improve transportation and…
