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Interview

OBG talks to L. Purevdorj, Governor, Bank of Mongolia (BOM)
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Interview:L. Purevdorj As banks enter a bullish cycle, what will be the new centres of growth in the sector? PUREVDORJ: As of the third quarter of 2011, total banking assets stood at MNT8.1trn ($6.32bn), an increase of 54% from the previous year, whereas the total loans outstanding grew by 56% to MNT4.9trn ($3.82bn) in the same time period. Total liabilities also grew by 46.7% to MNT7.2trn…
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OBG talks to Ch. Ganhuyag, Vice-Minister of Finance and Founder, Mongolia Economic Forum
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Interview:Ch. Ganhuyag How will policy makers ensure that the rapid growth in the sector will not lead to a bubble? GANHUYAG: The growth is not driven by an artificial rise in demand, but rather by physical foreign capital and investments. Whether the increase in demand will lead to a bubble is not entirely up to us, because the growth is driven by commodities exports. As long as China and…
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OBG talks to B. Bold, Chairman, Mongolia Stock Exchange (MSE)
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Interview:B. Bold How significant is the MSE’s joint venture with the London Stock Exchange Group (LSEG)? BOLD: One needs to look at the events of 20 years ago, when the country transitioned from a planned economy to a process of rapid privatisation of all state-owned enterprises. This created over 340 listed companies, but most of these did not survive, as they were not competitive on the…
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OBG talks to B. Enebish, CEO, Erdenes Tavan Tolgoi
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Interview:B. Enebish What key issues are being addressed in shaping the Mineral Law of Mongolia? ENEBISH: The workings of Mongolia’s mining law started during the exploration boom. Initially there were only small to medium-sized private companies involved in mining. The discoveries of Oyu Tolgoi and Tavan Tolgoi, and the development of these deposits, were extremely important for Mongolia.…
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OBG talks to D. Achit-Erdene, President and CEO, MICC
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Interview:D.Achit-Erdene How do you assess the Mongolian Stock Exchange’s (MSE) performance in 2010 and first half of 2011? ACHIT-ERDENE: The MSE Top 20 Index companies occupy over 90% of the MSE’s total market. These top 20 grew 138% in 2010, dramatically outperforming stock markets globally. The top five companies, each of which experienced growth rates ranging from 200-519%, made…
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OBG talks to D. Zorigt, Minister of Mineral Resources and Energy
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Interview:D. Zorigt How sustainable is the current rapid rate of growth we are seeing in the mining industry? ZORIGT: The mining sector’s status as an engine of healthy growth for Mongolia depends on legal, political and social stability. In terms of the legal environment, we are currently looking at amendments to the Minerals Law, seeking to improve the overall framework of regulation. We…
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OBG talks to Prime Minister S. Batbold
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Interview:Prime Minister S. Batbold What are the top priorities as far as domestic reform and economic development is concerned? BATBOLD: Mongolia is at a very important stage of development, having gone through a transitional period embracing a new system of democracy and a market economy. During this period we have learnt a lot and we must now progress from this phase towards a more sophisticated…
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OBG talks to Xavier Rolet, CEO, London Stock Exchange Group (LSEG)
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Interview:Xavier Rolet What are you trying to achieve with your partnership with the Mongolian Stock Exchange (MSE)? XAVIER ROLET: In 2011 we signed an exclusive strategic partnership agreement with the MSE to prepare the local capital markets for substantial privatisation programmes. The LSEG is bringing specialists in to work on all operational aspects of the exchange, from trading, clearing…
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OBG talks to Tom Albanese, CEO, Rio Tinto
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Interview:Tom Albanese Production at Oyu Tolgoi is now expected to commence in August 2012. What is your assessment of the progress in completion of phase one? TOM ALBANESE: Oyu Tolgoi is being developed in phases. Phase one, which includes the development of an open-pit mine and a 100,000-tonne-per-day concentrator is progressing well. We passed the halfway point in September 2011, which is…
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OBG talks to B. Ganzorig, Chairman, Foreign Investment and Foreign Trade Agency
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Interview:B. Ganzorig What government incentives are in place to encourage foreign investments into non-mining sectors? GANZORIG: It has already become obvious that investments in Mongolian mining sector are profitable. Now our objective is to bring foreign investment in non-mining sectors to help diversify the economy. The corporate tax rate in Mongolia is between 10% and 25%, depending on…