Monday, July 7, 2014

New report highlights Mongolia’s untapped potential

Oxford Business Group (OBG)’s new report, which marked OBG’s third analysis of Mongolia’s economy, was launched at Best Western Premier Tuushin Hotel, Ulaanbaatar, on July 1st.

The Report: Mongolia 2014 charts the country’s new infrastructural development, which, together with new legislation governing foreign direct investment and a regulatory overhaul, is expected to be instrumental in building investor confidence. There is also extensive coverage of Mongolia’s bid to encourage growth in lesser-developed areas of the economy, such as manufacturing, tourism and agriculture.

The report features contributions from President Ts. Elbegdorj and Prime Minister N. Altankhuyag, together with a detailed, sector-by-sector guide for investors. It also contains a wide range of interviews with leading political, economic and business representatives, including Japan’s Minister of Foreign Affairs Fumio Kishida, President of the European Commission José Manuel Barroso, and Canadian Governor General David Johnston.

Andrew Jeffreys, CEO of OBG, said that Mongolia’s efforts to diversify its economy were evident, while new, clearer rules for investing would bring benefits.

“In many ways, 2013 was a challenging year for Mongolia, although the country still managed to achieve double-digit growth, despite the difficult economic climate,” he said. “The legislative changes under way bode well for the country, especially if it can combine these reforms with political, macroeconomic and regulatory stability.”

OBG’s Country Director, Anne Delarue, said she was confident that The Report: Mongolia 2014 would serve as a useful tool for investors eyeing the country’s potential.

“Our publication highlights not only the wealth of untapped business opportunities which are ripe for development, but also the government’s commitment, through legislative change, to encouraging new investment,” she said. “It’s a pleasure to share our findings with the global business community and relay, in our new publication, Mongolia’s efforts to overcome the hurdles it faces and the country’s achievements.”
The Report: Mongolia 2014 marks the culmination of more than six months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments.

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