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Analysis

Refined developments: Moving to reduce costly imports by building domestic production
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When it comes to petroleum products, Mongolia is completely dependent on imports from its neighbours – and particularly its northern neighbour, Russia. Meanwhile, its domestic crude oil production currently heads south to refineries in China. Recognising that this arrangement is far from optimal for Mongolia, the oil and gas downstream sector is gearing up for some big changes in the years ahead.…

Analysis

Prepare for take-off: Aviation is set for rapid growth in both public and private sectors
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Given Mongolia’s large territory and the natural barriers that cross it, along with a low density of road and railway, air transport has provided a vital link within the country ever since civil aviation began in 1946. Yet Mongolia’s thinly spread population and its relative isolation from the rest of the world have meant air transport has remained relatively undeveloped. Of the country’s…

Analysis

Renewable results: Using open space to generate wind and solar power
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With much of Mongolia’s current electricity and heating needs being met by coal, energy planners have in recent times been looking much more closely at diversifying the mix. A front-runner for future generating capacity is renewable energy (RE), with solar and wind power both likely to be major providers. Indeed, the country’s first new power generation project in 30 years, now under way, is…

Analysis

Modern times: The cashmere segment is set to introduce new solutions to old problems
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With the capacity to produce 30% of global supply, Mongolia is the world’s second-largest producer of cashmere. Cashmere is perhaps Mongolia’s most important industry, and efforts are now under way to modernise, market and organise it. Cashmere sales average about $180m, according to the Mongol Cashmere Association (MCA). The industry is of major importance, as around a third of the labour…

Analysis

Beyond the capital: A number of regional centres are growing rapidly
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Though investors have tended to focus solely on Ulaanbaatar when it comes to real estate development, the country also has a number of potentially promising second- and third-tier conurbations. Indeed, the nation’s mining surge is increasingly a determining factor in the development of urban centres outside the capital, both as new settlements spring up and old ones expand. The government’s…

Analysis

A new direction: New and improved marketing for the sector
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One of the most common concerns about the Mongolian tourism industry is that the country lacks a coordinated strategy and has not sufficiently promoted itself abroad. However, with the country looking to make tourism a major long-term economic driver, supporting diversification from mining and encouraging greater development – particularly in the countryside – sector leaders and officials are…

Analysis

Better connections: Improvements to infrastructure allow for greater accessibility
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Infrastructure is one of the hot topics in Mongolia and with good reason – noticeable improvements have been made in recent years, and considerable investments are ongoing. The tourism industry is no exception, intricately linked as it is to the transport sector. ROADS: For its size, Mongolia has a relatively small network of paved roads – around 1500 km according to the World Bank – reflecting…

Analysis

Striking black gold: Going underground to maximise oil potential
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While Mongolia is rapidly becoming world famous for the large deposits of gold, copper and coal at its mines, a less well-known investment story is that of the country’s hydrocarbons sector. Recent surges in exploration promise significant expansion of the sector, and the government is also looking at developing its own downstream operations. The hope is that Mongolia will be able to supply a…

Analysis

Capacity and competition: To meet market demand, the hotel segment is set to grow rapidly
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The next several years are likely to see the Mongolian hotel market become considerably more competitive and dynamic as major international chains open in the country and existing institutions look to strengthen their positions in the industry. Investments in both planned and existing hotels have come after several years of steady improvement in quality, which has been driven by overall rising…

Analysis

Network news: Boosting mobile penetration looks like a challenge
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So many opportunities in Mongolia are just that – potential yet to be fully explored. That is what makes the mobile market so unique – it is one of just a handful of mature segments. Mobile telephony in 2010 attracted approximately 73% of all telecoms investment. There were 91.3 mobile subscribers per 100 people according to the Communications Regulatory Commission (CRC), the regulator for…