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6 Things you should know about Mongolia

Article - November 19, 2014

MONGOLIA

The Switzerland of Asia is at its investment turning point. Mongolia’s mineral resources boom has slowed down; however, 80% of its territory remains unexplored and the revenues from mining are allowing for the economic diversification that the country needs, upgrading education, developing infrastructure and encouraging social programs.

The Oyu Tolgoi mine is the largest financial undertaking in Mongolia’s history and is expected to account for more than 30% of the country’s GDP.

Mongolia is a role model of democracy in the region and an international peacekeeper. The Mongolian Armed Forces participate in UN operations, such as in South Sudan, as well as NATO’s Partnership for Peace program in Afghanistan, for example.

The country is branding itself as the investment gateway of continental Asia – a horse between two giants with tremendous logistics advantages.

The government has reviewed its foreign investment policy and a new investment law was adopted by the Parliament on the 3rd of October, 2013 to capitalize on the urgent need of funds and investment to ensure the sustainable growth of the country.

Mongolia recently signed in New York an agreement on transparency in matters related to international trade and investment.

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