Mongolia aims to stimulate economic growth

In order to enhance growth and increase foreign investment, Mongolia intends to sell stakes in 10 state-owned enterprises over the next two years. This includes selling Mongolia’s largest coal mine.

According to CEO of the bourse, Angar Davaasuren, the government intends to offload holdings in power plants and other businesses, including a stake in the Tavan Tolgoi coal mine (worth US$ 4 billion).

Economic growth in Mongolia was 7.8% in 2014, among weak commodity prices and high-profile dispute with foreign investors. In an interview with Bloomberg, Prime Minister Chimed Saikhanbileg, “We are seeing the next year with much more optimism” after growth slows to 5.3% in 2015.

Edited from Source: Bloomberg by Harleigh Hobbs

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