Vice Minister of Mining explains the opportunities for investors allocating to Mongolia at Mines and Money Hong Kong 2014
The fourth annual Mongolia Investment Summit in Hong Kong was a great success! Over 350 senior level delegates gathered at the Four Seasons hotel for the two day summit on 19-20 November 2013.
The delegate audience consisted of senior level government officials, such as Minister Gansukh of Roads and Transportation and State Secretary Tsogtsaikhan of Foreign Affairs, plus a great number of business leaders and international investors. Over 238 organisations from 15 countries were represented and 36% of the audience was made up of professional investors interested to learn more about Mongolia’s investment climate and investment opportunities.
Key topic of interest was the new Investment Law, which has replaced the controversial SEFIL law and has made it easier for foreign investors to invest in Mongolia. Javkhlanbaatar Sereeter of the Invest Mongolia Agency outlined the new law and, together with the other government officials present at the event, emphasized that Mongolia is back open for business.
James Passin, managing director of Firebird Mongolia Fund, remarked that Mongolia can expect to see an uptake in asset valuations from January 2014 onwards, when the new Securities Law takes effect. This was echoed by other investors as well during the investor panel discussions.
Overall, the sentiment at the summit can be described as ‘cautiously optimistic’. It will be interesting to discuss what impact the new Investment law and other policies have had on FDI inflow in a year from now.
Click here to view what delegates said about the Mongolia Investment Summit 2013
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