The document summarizes Mongolia's financial regulatory reforms and plans to develop its capital markets. It discusses challenges faced by Mongolia's market historically including macroeconomic instability, high deposit rates, weak investor protections, and inefficient infrastructure. Recent reforms include new laws, decreased regulatory constraints, and risk-based supervision. Plans are outlined to privatize state-owned companies, develop the bond market, allow trading of new derivatives, and increase institutional investors. The strategy involves integrating financial industries and creating a sustainable market according to a national strategy by 2025, including establishing an international financial zone in Ulaanbaatar.
The document outlines Mongolia's plans to establish an International Financial Zone in Ulaanbaatar to serve as a financial hub for Central Asia. Key points include:
- Ensuring strong investor protections and reducing regulatory burdens to attract foreign investment.
- Using Dubai as a model given similarities between Dubai and Mongolia's heavy reliance on natural resources and geographical isolation.
- Potential economic benefits include diversifying the economy, increasing foreign direct investment, jobs, and tax revenues as seen in Dubai's experience establishing an offshore financial center.
- The region has demand for a secure platform connecting to world markets for trade, infrastructure development, and world-class financial services.
The document summarizes Mongolia's financial regulatory reforms and plans to develop its capital markets. It discusses challenges faced by Mongolia's market historically including macroeconomic instability, high deposit rates, weak investor protections, and inefficient infrastructure. Recent reforms include new laws, decreased regulatory constraints, and risk-based supervision. Plans are outlined to privatize state-owned companies, develop the bond market, allow trading of new derivatives, and increase institutional investors. The strategy involves integrating financial industries and creating a sustainable market according to a national strategy by 2025, including establishing an international financial zone in Ulaanbaatar.
The document outlines Mongolia's plans to establish an International Financial Zone in Ulaanbaatar to serve as a financial hub for Central Asia. Key points include:
- Ensuring strong investor protections and reducing regulatory burdens to attract foreign investment.
- Using Dubai as a model given similarities between Dubai and Mongolia's heavy reliance on natural resources and geographical isolation.
- Potential economic benefits include diversifying the economy, increasing foreign direct investment, jobs, and tax revenues as seen in Dubai's experience establishing an offshore financial center.
- The region has demand for a secure platform connecting to world markets for trade, infrastructure development, and world-class financial services.
