Mongolia gives investors their day

There are signs that foreign investors are returning to the country following what appears to be an about-face for the government, which has retreated from the most contentious issues in its investment and mining laws
Oyu Tolgoi is expected to account for about one-third of Mongolia's GDP once it is fully up and running.
Oyu Tolgoi is expected to account for about one-third of Mongolia's GDP once it is fully up and running.

When KFC opened its first fast-food restaurant in Mongolia at the end of May it was one of the more visible signs that the confidence of foreign investors is returning. And if the long line of people queuing up on Chinggis Khan Avenue for a chance to taste Colonel Sanders' chicken on day one is any indication, Mongolia is open to foreign investment.

Of course, that is to be expected for a country that is heavily dependent on foreign capital to achieve its growth and development goals. Last year Mongolia's GDP only just exceeded $10 billion, which is on par with Laos but significantly below Myanmar at about $50 billion....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222