Mongolian Economy and Finance

Board of Investment aims to push more Thai investment abroad

The Asian nation which is dependent on the mining sector to fuel growth late last year rewrote rules on foreign investment, but new data on Friday shows another steep fall-off in FDI during the first half of 2014.

Aug 1 (Reuters) - Foreign direct investment in Mongolia fell 70 percent in the first half of the year, central bank data showed on Friday, with investors wary of the country's position on the foreign ownership of its resources.

Northeast Asia is a tough neighborhood for a country to stand out in these days.

Welcome to the ‘Hotel Mongolia .’ It’s a lovely place. But you might not be able to leave.

It was only an April Fool’s day joke – but when an Ulaanbaatar website suggested that Mongolia go on a Genghis Khan-style “investor roadshow” across several continents on horseback to win back international investors, it hinted at the size of the image deficit the north Asian nation faces.

China, billed as the major investor in the exploration and production of Myanmar natural resources, is also a big player for mineral extraction in Mongolia, said S. Javkhlanbaatar, the director of Invest Mongolia Agency.

It was only an April Fool’s day joke – but when an Ulaanbaatar website suggested that Mongolia go on a Genghis Khan-style “investor roadshow” across several continents on horseback to win back international investors, it hinted at the size of the image deficit the north Asian nation faces.

WHAT: Samuel Tumiwa, Deputy Representative of the Asian Development Bank's North American Representative Office, will be visiting Toronto on April 2 and is available to speak on business opportunities for Canadian businesses with the Manila-based Asian Development Bank.

Mongolia has been listed as the world’s fast growing economy for the second year running, providing hope for industrial minerals companies working in the region.

Foreign investors abandoned one-time frontier-market darling Mongolia over the past 18 months amid a dispute over a mine development, but the country hopes a resolution and its new investment law can lure them back.

On November 3 Mongolia's new, friendlier foreign investment law came into force.

Melbourne (Platts)--8Nov2013/315 am EST/815 GMT

Aspire Mining ( ASX: AKM ) will gain a filip from the Mongolian Government’s new legislation that clearly signals the country is open for foreign investment.

Mongolia's new foreign investment law will reduce restrictions on investors, particularly in the mining sector, an expert has said.

South Africa's Standard Bank Group (SBK.JO) has agreed to sell its Asian loan portfolio, of around $1 billion, which includes financing of mining projects in Mongolia, Indonesia and other countries, to BNP Paribas SA ( >> BNP PARIBAS ) and others, Reuters reported Wednesday, citing two people familiar with the matter.

With the wind chill, temperatures in Ulan Bator, Mongolia, dipped below 10 degrees last week. Still, Harris Kupperman showed up for his job in a short-sleeve polo and Ray-Bans, an iced coffee in hand.

Mongolia will be easing restrictions on foreign investors looking to buy assets in the country in a bid to revive inflows and boost growth.

Mongolia is switching things up and have recently “passed a law aimed at reviving foreign investment by easing restrictions on investors in key sectors such as mining and by providing greater certainty on the taxes they must pay,” reports Reuters.

A sudden sense of economic crisis is spoiling the mood over Mongolia's three years of world-beating economic growth.