Mongolia: Economy outlook

In addition.... (2017)

• The Government of Mongolia is committed to regaining investors’ confidence and has created GOVERNMENT DIVISIONS:

- Council to protect investors’ interests

- National Development Agency

• MEMORANDUM OF UNDERSTANDING between the Cabinet Secretariat of the Government of Mongolia and the International Finance Corporation

• The Government plans to implement SYSTEMATIC INVESTOR RESPONSE MECHANISM (SIRM)

• The Government of Mongolia has taken actions in addressing THE COUNTRY OF ORIGIN CERTIFICATE issues

REASONS FOR CHOOSING MONGOLIA

INVESTMENT LAW HIGHLIGHTS:

• Mongolia has certain legal and treaty measures exist to provide protection to investments
• No approval to enter into market and buy a local company
• No discrimination between Foreign and Local company
• Fast incorporation process
• Stability certificate
• More liberalized and generous incentives /tax & non tax/ Investor friendly

• One of the fastest growing economy in the world
• Neighboring with two largest global economies and commodities market
• Large mineral resource base that can be leveraged for industrial use
• Industrial and infrastructure Mega projects underway
• Leading in land, livestock per capita
• Lowest taxing regulation in the region
• Attractive environment for FDI and Trade through an open policy

H.E. TUMUR “GEORGE” LKHAGVADORJ AMBASSADOR EXTRAORDINARY AND PLENIPOTENTIARY OF MONGOLIA TO THE REPUBLIC OF SINGAPORE

ECONOMIC CORRIDOR between MONGOLIA, RUSSIA AND CHINA

• FIRST SUMMIT (September, 2014) Focus on Economic Cooperation

• SECOND SUMMIT (July, 2015) Agreed to create ECONOMIC CORRIDOR

• THIRD SUMMIT (June, 2016) Signed the PROGRAM of Mongolia-China-Russia ECONOMIC CORRIDOR

INTERNATIONAL FRAMEWORK

External trade

MEMBER OF THE:

• Convention on the Recognition and Enforcement of Foreign Arbitral Awards

(New York Convention)

• Convention on the Settlement of Investment Disputes (Washington Convention)

In the first 7 month of 2017 , Mongolia traded with 145 countries from all over the world and total trade turnover reached USD 5,9 billion.

MONGOLIA:

The Economy Landscape

Member of Multilateral Investment Guarantee Agency (MIGA)

• Foreign Investment Protection and Promotion Agreements with 43 countries
• Tax treaties with 30 countries

• Mongolia-Japan Economic Partnership Agreement (1st FTA, 2016)
• Canada-Mongolia Foreign Investment and Protection Agreement (FIPA, 2017)
• Process of accession of APTA

BELT AND ROAD INITIATIVE AND MONGOLIA

Chinese President Xi Jinping said that Mongolia is welcome to actively participate in construction of the Belt and Road on May 12, 2017.

RAILWAY TRANSIT CORRIDORS

Ease of Doing Business in Mongolia - ranked 64 of 189 countries (2017)

ROAD TRANSIT CORRIDORS

FOREIGN INVESTMENT ENVIRONMENT

ECONOMIC OVERVIEW

32 PROJECTS to be implemented in scope of Mongolia-Russia-China Economic Corridor

China - 48,18%

Korea - 17,69%

Russia - 6,57%

Japan - 4,24%

Singapore - 1,54%

MONGOLIA is the 2nd largest landlocked independent country sandwiched between Russia and China.

MONGOLIA is the 6th largest country in Asia and 19th largest in the world.

Agreement between the Government of Mongolia and the Government of the Republic of Singapore on the Promotion and Protection of Investments (1995)

Agreement between the Government of Mongolia and the Government of the Republic of Singapore for the avoidance of Double taxation and the prevention of fiscal evasion with respect to taxes on income (2005)

Over the past 20 years, Mongolia has transformed itself from a socialist country to a vibrant multiparty democracy with a booming economy.

THANK YOU FOR YOUR ATTENTION

From Agriculture economy ...

FIELDS OF COOPERATION:

• Transportation infrastructure
• Cooperation in industrial sector
• Development of border-crossing points
• Facilitation of trade and inspection procedures
• Cooperation in energy sector
• Environment and Ecology
• Education, science and technology
• Humanitarian
• Agriculture

... To a booming commodity economy

Address: 600 North Bridge road

The Parkview Square #24-08 Singapore 188778

Tel: (+65) 6348 0745

Fax: (+65) 6348 1753

www.mongolianembassy.sg