The “Mongolian Economic Forum 2023,” the largest forum in Mongolia, successfully concluded on July 10. This annual event, held since 2010, brought together a diverse range of participants. Under the theme “Welcome to Mongolia,” the forum saw the attendance of Rio Tinto’s board members and executive management team, along with representatives from top global banks and financial institutions such as JP Morgan, Citibank, Goldman Sachs, and Morgan Stanley.
The carefully selected topics of the general and sub-sessions enabled discussions on timely issues that are of great interest to investors. This focus further enhanced the significance of the two-day forum. The management of Rio Tinto expressed their confidence in the effectiveness of the “Mongolian Economic Forum 2023,” emphasizing its potential to provide a significant boost in attracting more investors to the region.
From 2012 to 2022, Mongolia’s economy experienced an average annual growth rate of 5.1 percent. The country’s export volume has been consistently rising, reaching USD 12.5 billion. Moreover, in 2022, Mongolia’s GDP surpassed pre-pandemic levels, while inflation, which had peaked at 16.2 percent, has been decreasing and is expected to continue on a downward trajectory. Additionally, Mongolia’s credit rating has remained stable for the past five years.
To further promote investment and facilitate trade, the Investment and Trade Agency was established. This agency plays a crucial role in attracting investment, safeguarding the legal interests of investors, implementing trade policies, and providing comprehensive one-stop services.
Overall, the successful conclusion of the “Mongolian Economic Forum 2023” has reinforced Mongolia’s position as an attractive destination for investment, showcasing its stable economic growth and commitment to creating a favorable business environment.