Mongolia: Retail therapy

Expectations that Mongolia’s retail industry will be transformed by the nation’s rapidly growing mining sector appear on track, although rising inflation and a lack of human resources could threaten the sector’s potential. In mid-June, Mongolia made its first appearance in the AT Kearney Global Retail Development Index, earning a creditable ninth place in a survey […]

Mongolia: Overcoming insurance challenges

As government programmes expand basic insurance coverage in Mongolia, economic growth spurred by resource revenues is expected to create surging demand in the private insurance market. However, ensuring the latter is managed by appropriate legislation represents a challenge to regulatory bodies. In June, Mongolia’s Insurance and Human Development Fund (HDF) reported that 555,000 people out […]

Mongolia: Volatility in cashmere

Unexpected fluctuations in cashmere prices in 2012 have dampened optimism in Mongolia’s textiles sector, despite the introduction of incentives from the government aimed at streamlining the industry. However, industry players say a planned commodities exchange will resolve the issue. After opening at MNT70,000 ($52) per kg in the March-April buying season for the country’s pivotal […]

Mongolia: Shoring up technology gaps

The information and communications technology (ICT) sector has been boosted in recent months by measures to enhance local online content and implement e-bidding systems for investors. However, technological glitches during the elections in June have highlighted issues with internet coverage. On June 22, the country took a step towards increasing Mongolian content on the internet […]

Mongolia: Growing pains for agriculture

Although Mongolia’s agriculture sector is feeling the benefits of new management approaches and seeing intensified production thanks to technological advances, it is still struggling to overcome issues created by under-investment and a transition from a planned to a market economy. In mid-June T. Badamjunai, the minister of food, agriculture and light industry, told the cabinet […]

Mongolia: Focus On Investment In Tourism

With the 2015 target date by which Mongolia hopes to welcome 1m visitors per year drawing nearer, officials are calling on the government to channel investment into the country’s tourism industry and take specific steps to encourage greater private sector participation. Mongolia’s wealth of attractions, such as its fossil fields in the Gobi Desert and […]

Mongolia: Setting the tone for investment

Concerns that a new foreign investment law would severely impact Mongolia’s natural resource sector and economy as a whole are beginning to ease, as industry players now see that reformed legislation is necessary for the country’s economic evolution. Reports in early May that the Mongolian government was planning to enact wide-ranging limits on foreign ownership […]

Mongolia: Boosting local construction

A wave of new infrastructure and phased housing projects in Mongolia looks set to give the country’s construction sector a huge boost while also generating wide-ranging opportunities for foreign investors in the building industry. Mongolia is rolling out an extensive programme of developments that includes the construction of roads, bridges and homes as it gears […]

Mongolia: Ringing the changes

Underlining the rapid evolution under way in Mongolia’s telecommunications sector, the state-run, land-line telecoms provider is cutting back while the main mobile players are introducing new features and announcing major international partnerships. In January, Mongolia Telecom Company (MTC) announced it would need to lay off 200 workers due to “an increase in cell-phone usage”. It […]