PRESENTATION

1. Ladies and gentlemen,
It’s my pleasure to speak at this significant event as the person who get involved business related
issues in Mongolia quite long time including the SIDA’s mission during the 2003-2007 when I
worked for the Mongolian National Chamber of Commerce and Industy.
I always appreciated the SIDA and Swedish gov’s effort for Mongolian economics growth which
is started from the time that the current mining and other giant investors in Mongolia actually
almost did not want to hear about the country’s market . To be honest, I feel not really
satisfactory with Swedish investors/businessmen recent intention or actual potential business
projects in Mongolia if compare with the above mentioned condition. I am sorry if I missed
some of it.
Business Council of Mongolia is the coalition of more than 160 domestic and foreign investors,
international organizations, donors and diplomatic missions in the country and we are aiming to
promote the country’s pleasant investment atmosphere since it’s creation in 2007. I hope one of
you guys will join to BCM as the first Swedish entity at the Council.
Obviously, I can not provide you the fluent info about the doing business in Mongolia related
matters within 10 mnutes but let me try to give you some general background.
There’s approximately 40.000 private sector entities are actively working from the 60.000
registered companies including foreign invested and joint ventures and they produce 65-72
percent of the GDP as of recent 4 years period.
The Mongolian economy is set to grow rapidly in the coming few years. The rate until 2020 is
predicted to be 14%-15% and GDP will reach the level of those of Malaysia, Indonesia and
Taiwan. The Governments projection is that in 2020, GDP per capita will be 12.000 USD and
GDP itself will be 41 billion USD.
More than 800.000 employees working in a private sector which takes more than 70 percent of
the active working force.
GoM’s 2008-2012 Action plan includes the phase which indicated “will compose pleasant
investment and business atmosphere through the actions on banking and financial system

2. reform, credit loan interest deduction in order to promote service and industry based export
oriented private sector development”
According to the mission, the Government announced the 2010 as a “year of business
environment reform” and the related ministries and other stakeholders working together
according to the actual plan and strategy. Actually it is impossible to reform in one year but I
hope we will create at least some concrete fundamental tools for the future development. I am
indicating this as one of the member of National Vocational Education Council and Private
Sector Development Strategy Steering Committee which is the based on Private and public
sector equal seats. I would say Mongolia is becoming more transparent on this kind of strategic
document making.
According to the World Bank’s “Doing business” report Mongolia is ranked 58th
from the 181
countries in 2009 and ranked number 60 from the 183 countries in 2010. It shows doing business
in Mongolia is easier than in many countries in the region.
But obviously should consider the general recommendation and comments from the international
organizations and related NGOs in recent 10 years which says “Legal sustainable business
environment is not stabled, duplicated and conflicted jurisdiction exists, comprehensive financial
service is poor, Gov’s related decision making procedure and service is not clear or not
transparent”
I should say that Mongolia is very young population generated country and a lots of western
educated comprehensive minded young people are coming back from the movement or the
intention to developed countries which started from the beginning of 1990th
. They are willing to
work for international standard working atmosphere, communication and technology based
employers in the home country according to the booming trends of the near future. Well just as
for instance, recently we announced an admin assistant’s job announcement and received more
than 70 applications and found that more than 50 percent of them was from the guys who
graduated in western universities. I hope your future company creation in Mongolia fits with this
strong working force need.
Let me finish my speaking by our Chairman Laurenz Melchers, Director of Mongolian Star
Melchers who is one of the very successful businessman in Mongolia’s word during the

3. “Discover Mongolia- 2010” Mining Conference. He said “I can tell you from my own
experience that the early bird does catch the worn and I appeal to you to be ahead in the line”
At the end I should encourage you guys to bring Roxette the most famous rock band in Mongolia
in order to promote your business image in here.