Economy

Mongolia Economy 2012
Mongolia’s resource-based economy is forecast to be one of the fastest growing in the world over the next two decades. The two big stories of 2011 were Tavan Tolgoi, a coal mine now ramping up its production, and Oyu Tolgoi, a copper and gold mine that should begin operations in 2013. The IMF expects investment in these projects, and growth in spinoff industries, to drive GDP growth to 12% in 2012, and the government projects even higher growth, at 25%. However, economists are warning of “Dutch disease” whereby overreliance on resource exports crowds out manufacturing and boosts inflation. Investing in infrastructure and educating citizens to participate in a modern economy will be key to achieving diversified growth. This chapter features interviews with Ch. Ganhuyag, Vice-Minister of Finance and Founder, Mongolia Economic Forum; B. Ganzorig, Chairman, Foreign Investment and Foreign Trade Agency; Jim Dwyer, Executive Director, Business Council of Mongolia (BCM); and J. Odjargal, Chairman, MCS Group. It also includes a viewpoint from B. Byambasaikhan, CEO, Newcom Group.
Cover of the The Report: Mongolia 2012

The Report

This chapter is from the Mongolia 2012 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of B. Byambasaikhan, CEO, Newcom Group, on the role of innovation and clean technology in building national infrastructure
B. Byambasaikhan, CEO, Newcom Group, on the role of innovation and clean technology in building national infrastructure

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×