Mongolia's Energy Sector Booming
Mongolia’s rising mineral and fuel production is transforming the nation’s economy. The European Bank for Reconstruction and Development (EBRD) predicted last month that the economy will grow by 9 percent in 2011, with this rate accelerating to 12 percent in 2012 due to increasing foreign direct investment (FDI) in the country’s mining sector, which the EBRD says made up 26 percent of Mongolia’s GDP in 2010.
Mongolian governmental policy has not made all foreign investors happy, however. Earlier this year the U.S. Department of State wrote in a review of Mongolia’s investment climate, “Specific governmental acts regarding foreign involvement in Mongolia’s
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Mongolian governmental policy has not made all foreign investors happy, however. Earlier this year the U.S. Department of State wrote in a review of Mongolia’s investment climate, “Specific governmental acts regarding foreign involvement in Mongolia’s
Read more...
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