Holding up during difficult times and helping to take the edge off the commodity cycle, industry in Mongolia has contributed significantly to the economy. While resource prices have been dropping and related economic activity and foreign direct investment are not at expected levels, manufacturing and processing have been growing, with industrial production up almost 15% in 2013, providing a measure of countercyclical support. More investment is needed in the industry and retail sectors, and many of the most promising industries have been largely ignored by investors and the government, crowded out by mining and minerals opportunities. Still, the events of recent years have demonstrated that a more diversified economy is needed and manufacturers are evolving to capture new opportunities.
This chapter contains interviews with M. Oyunchimeg, CEO, Mongolian National Chamber of Commerce and Industry; and Ts. Erdenebileg, CEO, APU Company.