Written in Mongolia and read by professionals
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Wednesday, July 6, 2011




Mongolia Briefing is a magazine and daily news service about doing business in Mongolia. We cover topics relating to the Mongolian economy, the market in Mongolia, foreign direct investment and Mongolian law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates


Monthly Archives: March 2011

Mongolia Connects to Hong Kong with Direct Flights and Consulate

May 31 – Mongolia has strengthened its ties with Hong Kong through the creation of a new consulate, and the establishment of bi-weekly direct flights to Ulaanbaatar. The links bring increased exposure to the financing and business opportunities in the country as Mongolia seeks to attract investors to help the nation develop its new-found wealth. Continue reading

Posted in Aviation, Business, Science & Technology, Shipping & Logistics | Leave a comment

South Korean Consortium Signs US$3 Billion Rail Deal with Mongolia

Mar. 28 – A major consortium of South Korean companies has signed a US$3 billion preliminary rail deal with Mongolian Railway in Seoul on Thursday to help transport coal out of Mongolia’s Tavan Tolgoi – the world’s largest untapped coal mine with an estimated 6.4 billion tons of reserves.

The consortium, consisting of state-run Korea Rail Network Authority and top manufacturing companies including Lotte Engineering & Construction, Hyundai Engineering & Construction, and Daewoo Engineering & Construction, looks to begin work in the first half of next year on a 1,040-kilometer railway connecting Tavan Tolgoi in the Gobi Desert to eastern Mongolia’s Choibalsan. Continue reading

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Mongolia’s Opportunities and Legal, Tax and Economic Developments

Seminar in Beijing on Wednesday, March 23 featuring Chris Devonshire-Ellis

Mar. 17 – This event will analyze the emerging investment climate taking place in Mongolia as a result of the massive mineral reserves and wealth found in the country. Prompted by the recent governmental reforms discussed at the Mongolia Economic Forum held at the beginning of the month in Ulaan Baatar, this event will showcase investment opportunities and challenges in Mongolia, including mining, in addition to new secondary industries. The event will provide an introduction to the “Wolf Economy”, as well as an overview of the applicable legal and tax regulations. Continue reading

Posted in Business, Finance, Legal and Regulatory, Services, Tax and Accounting | Leave a comment

Bidders Line Up to Purchase World’s Largest Coal Deposit

Mar. 9 – Seven bidders, including Arcelor Mittal, Vale, Xstrata, Peabody, Shenhua and Mitsui, plus a Japanese, Korean and Russian consortium have been shortlisted to develop Mongolia’s massive Tavan Tolgoi reserves.

The site, owned by Mongolia’s state-owned Erdenes, has 6 billion tons of coal reserves and is capable of producing 15 million tons annually for over 30 years. The site is expected to require an initial US$7.3 billion investment to get it ready for development. A separate IPO is also being planned for the mine, with estimates this could raise at least US$15 billion. Continue reading

Posted in Business, Energy, Foreign Trade, Markets, Mining | Leave a comment

Mongolia Watch: A Nation of Millionaires Emerges

Mar. 8 – This week China Briefing offers a special feature on the development of Mongolia – a nation the size of Western Europe with some of the world’s largest mineral deposits located just 90 minutes north of Beijing by plane.

By 2015, its nationals will be wealthier than the Shanghainese. Reports from Chris Devonshire-Ellis this past week outline the potential opportunities in the nation. Continue reading

Posted in Business, Energy, Finance, Foreign Trade, Manufacturing, Markets, Mining, Politics | Leave a comment

Putting the Wolf to Work. Reform in the Mongolian Economy

The average Mongolian to become U.S. dollar millionaire by 2014

Op-Ed Commentary: Chris Devonshire-Ellis

ULAAN BAATAR, Mar. 8 – As we have seen over the last few days, the Mongolian economy is about to take off in a very big way. Massive mineral reserves are about to transform the wealth of this landlocked country and the implications both for the Mongolians and for foreign investors are huge. Continue reading

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What if the Wolf Snarls? Mongolia’s Macro-Economic Risks

Emerging economies all have risks. But what about virtually unknown Mongolia, whose GDP is set to grow at 30 percent a year by 2013?

Op-Ed Commentary: Chris Devonshire-Ellis

ULAAN BAATAR, Mar. 7 – Attending the Mongolian Economic Forum last week was not just a welcome occasional foray into an interesting, yet relatively small and obscure Asian country, it was an insight into two main issues. Firstly, for me, it provided a snapshot back in time of a country just emerging from years of depression – much as I found China in fact when I first began working in the country 25 years ago. But secondly, and more importantly, it provided the recognition that what is happening in Mongolia is going to change the way the world sources its most in-demand raw commodities. Mongolia possesses the world’s largest copper reserves, the second-largest coal reserves, significant onshore oil and gas fields, the world’s second-largest deposits of rare earths, massive gold and iron ore reserves, and many other hugely significant deposits of minerals ranging from uranium to tungsten and zinc. Put simply, Mongolia’s minerals will provide the world with supplies of many of its most valuable raw minerals for the rest of this century. That’s why the country is suddenly gaining attention, and that is why the Mongolia issue is important. Continue reading

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Mongolia’s Wolf Economy Comes in from the Cold

The investment opportunities are all about mining, minerals, and entrepreneurial adventures

Op-Ed Commentary: Chris Devonshire-Ellis

ULAAN BAATAR, Mar. 4 – The main focus of what is going to be a decade of massive change for the Mongolian economy is going to be mining. In fact, the massive reserves that the nation possesses are such that there is talk of a “mining mania” and serious concern about how this young nation can cope with the implications this natural bonanza will bring. Continue reading

Posted in Business, Culture & History, Featured, Finance, Legal and Regulatory, Markets, Mining, Politics, Regulatory Update, Tax and Accounting | Leave a comment



Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at mongolia@dezshira.com, download our corporate brochure or visit at us www.dezshira.com


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