DOCSLIB.ORG

Fast Book Nom.Indd

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fast Book Nom.Indd FACT BOOK 2007 MONGOLIAN STOCK EXCHANGE MONGOLIAN STOCK EXCHANGE TABLE OF CONTENTS MESSAGE FROM THE CEO 5 2007 ECONOMICAL REVIEW 6 MSE INTRODUCTION Mission statement 10 History 10 Company structure 10 Organizational chart 11 MSE Highlights 13 FINANCIAL STATEMENT Balance sheet 14 Income statement 15 HISTORICAL TIMELINE 16 LISTING AT MSE Listing procedures 18 Listing criteria 18 Listing fee 19 Listed companies 20 TRADING Trading process and mechanism 24 Market highlights 25 Stock trading 26 30 Active Traded Stocks 26 Bond trading 27 Clearing and Settlement 28 MSE INDEXES Top-20 indexes, 2006-2007 30 MEMBER COMPANIES Legislations and Rules 34 Application for membership 34 Membership fee 34 Member broker & dealer companies 34 Stock trading volume of broker & dealer companies 34 Contact information 36 MSE`S OTHER ACTIVITES Information center 38 Training center 38 Sports competition 38 Publications 38 STOCK PRICE TRENDS 39 3 MONGOLIAN STOCK EXCHANGE MONGOLIAN STOCK EXCHANGE 4 MONGOLIAN STOCK EXCHANGE MONGOLIAN STOCK EXCHANGE MESSAGE FROM THE CEO On behalf of Mongolian Stock Exchange (MSE), I am pleased to present to you the Fact book of 2007. This booklet provides comprehensive information on performance of the Mongolian Stock exchanges and Mongolian securities market during 2007. In 2007 MSE has placed increased emphasis on such activities as: improving securi- ties trading system, technology, providing utilizing beneficial, transparent, trustwor- thy trading environment, developing information disclosure and dissemination proce- dures, systematically educating investors, issuers and all capital market participants, also establishing connections with international financial and capital market partici- pants and professional organizations. In 2007 Mongolian Stock Exchange has achieved impressive results. The total trad- ing value has reached 102 576.8 mln MNT (Mongolian National Tugrug) that is 5.7 per cent increase compared to the same period last year. The total trading value con- sisted from 62 126.8 million MNT worth of stock trade and from 850.7 million MNT company bond trade and from government bond trade that summed at 39 599.3 MNT. Market capitalization of the listed companies reached 717.6 billion MNT which rep- resents some 5.5 times increase compared to 2006. By the end of 2007 MSE’s top-20 index reached 10256.13 units. Highlights of our accomplishments can be noted as follows: Organized event named “Capital Market development” with securities market professional organizations in order to introduce securities market operations to the public. 3000th trading has commenced with total transaction value of 1 billion MNT “Dornod Autozam”, “High-B-Oil”, “Olloo” and “Tuul-Songino usni Noots” joint stock companies were listed on MSE and issued securities. “Bats”, “CCP”, “Global Asset”, “Frontier”, “Bloomsbury Securities” broker dealer companies addmited for membership. Renewed Trading Regulation and MSE’s Listing Rule. A Memorandum of Understanding with Hong Kong Stock Exchange was signed. Also discussed further cooperation possibilities with Taiwan GreTai Securities Market in terms of developing and implementing “Mongol Bond” project. Conducted preliminary studies on “Mongolian Stock Exchange technology, software reform and human resource capacity building” project with Korea Stock Exchange. Established connections with Bloomberg and Reuters agencies, in order to dis- seminate MSE information to the world. Successful discussions were held on signing the Data Supply Agreements with both organizations. Celebrated 17th Anniversary of MSE by organizing seminars, conferences, sponsored a movie called “Khubilai Khaan’s Decree” and screened to the pub- lic. Letter of Intent signed with Korea Exchange on implementing “Mongolian Stock Exchange technology, software reform and human resource capacity building” project Participated at both international and domestic seminars, trainings and orga- nized joint seminars and trainings with foreign specialists. This year Mongolian Stock Exchange will be focusing on consolidating above suc- cessful results also on expanding the market, improving its operations to the interna- tional standards. R.SODKHUU 5 Chief Executive officer MONGOLIAN STOCK EXCHANGE MONGOLIAN STOCK EXCHANGE 2007 ECONOMICAL REVIEW In 2007 Mongolia achieved high economic growth. Real GDP growth rate was 9.9 percent in 2007. Economic growth has been primarily driven by agriculture (which contributed 3.4 percentage points to economic growth), and services (which contrib- uted 4.3 percentage points). For the preliminary result of 2007, total revenue and grants of General budget amount- ed to 1851.2 billion MNT* and total expenditure and net lending was 1749.2 billion MNT. The General Government budget overall balance was a surplus 102.0 billion MNT. The share of total revenue and grants, total expenditure and net lending and overall balance amounted 40.6, 38.4 and 2.2 percent respectively to the GDP. Current revenue of General Government amounted to 1843.7 billion MNT and current expen- diture 1202.1 billion MNT. Inflation has picked up to reach 15.1 percent, the highest level in the decade. This marked increase in inflation is due to rapid monetary growth, public sector wage increases in the price of some main imports. Rapid monetary expansion continues. In 2007, money supply (M2) increased by 56.3% and currency issued in circulation by 48.5%. Total loans outstanding increased by 68.1% of which loans to private sector increased by 83.3%. Some monetization of the economy is still at work. Compared with other similar developing countries, the level of monetization in Mongolia is low. In 2006 for instance, low income countries have on average a ratio of M2 to GDP of 52 percent. Import growth has remained robust in 2007, led by strong economic growth which translated into sustained demand for consumption and investment goods. As a result, total external trade turnover equaled $4006.3 million and the total external trade bal- ance turned to a deficit of $228.3 million. Compared to previous year, exports grew by 22.5 percent (reaching $1,888.9 million) and imports rose by 42.5 percent (reaching $2,117.3 million). Compared to 2006, tax revenue increased by 33.0 percent or 372.6 billion MNT, taxes on foreign trade increased by 42.2 percent or 0.4 billion MNT, value added tax in- creased by 9.1 percent or 21.9 billion MNT and excise tax increased by 33.6 percent or 33.6 billion MNT respectively. 6 *MNT stands for abbreviation of Mongolian National Tugrug - currency. 1 USD = 1175 MNT MONGOLIAN STOCK EXCHANGE MONGOLIAN STOCK EXCHANGE ECONOMY OF MONGOLIA Basic Indexes ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 1. Annual growth -3,0 2,3 6,3 2,4 4,0 3,5 3,2 1,1 1,0 4,0 5,5 10,6 6,2 7,4 9,9 of GDP (%)* 2. Inflation rate 183,0 66,3 53,1 44,6 20,5 6,0 10,0 8,1 8,0 1,6 4,7 11,0 9,5 6,0 15,1 GDP growth rate Inflation rate 12.0 200.0 180.0 10.0 160.0 8.0 140.0 6.0 120.0 100.0 4.0 80.0 2.0 60.0 40.0 0.0 20.0 ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 -2.0 0.0 ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 -4.0 ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 3. Foreign trading Export (USD in mln.) 382,6 356,1 473,3 424,3 568,5 462,3 454,2 535,8 521,5 524,0 600,2 853,3 1064,9 1 542,8 1 889,0 Import (USD in mln.) 379,0 258,4 415,3 450,9 468,3 503,3 512,8 614,5 637,7 690,8 787,3 1011,6 1184,3 1 485,6 2 117,3 * In accordance with IMF methodology the volume and value of non-monetary gold is included in external trade export & import since 2002. The NSO have revised and estimated data of previous years accordingly, using Mon- gol Bank data 4. State budget Revenue**(MNT in bln.) 54,8 85,5 140,9 160,0 212,0 225,5 254,8 351,1 439,3 477,0 535,8 697,4 837,8 1360,4 1851,2 Expenditure***(MNT in 61,6 98,9 bln.) 143,9 176,6 287,6 342,2 361,7 429,7 489,7 548,6 616,5 713,8 764,5 1237,0 1749,2 ** Privatization income is excluded *** Social security contribution is excluded to avoid duplication 7 MONGOLIAN STOCK EXCHANGE Foreign trading State budget 2250 2100 2000 1950 1800 1800 1650 1600 1500 1400 1350 1200 1200 1050 1000 900 800 750 600 600 450 400 300 200 150 0 0 ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 5. Exchange rate MNT / US $ 473,6 693,5 813,2 902,0 1 209 1 072,4 1 097,0 1 102,0 1 125,0 1 168,0 1 221,0 1 165,0 1 170,0 6. Currency issued in circulation 107 119 29,8 46,1 56,8 61,8 91,6 (MNT in bln.) 134,6 152,8 168,5 191,7 245,0 364,1 Ì1 Money (MNT in bln.) 188 213 213 269 332 42,6 64,3 76,1 82,6 114,8 130,8 156,2 515,4 Ì2 Money (MNT in bln.) 1170 1537 102,0 128,4 170,1 167,2 220,2 258,8 331,1 470,1 703,3 847,0 2191,9 Source: monthly bulletin, yearbook of the National Statistical Office 8 MONGOLIAN STOCK EXCHANGE MSE INTRODUCTION Mission statement History Company structure Organizational chart MSE Highlights Financial statement Historical timeline MONGOLIAN STOCK EXCHANGE MONGOLIAN STOCK EXCHANGE MISSION STATEMENT The mission statement of Mongolian Stock Exchange is to work profitably as contrib- uting to the development of national economy by creating classical capital market, provide guaranteed protection for shareholders, build the opportunities for state and business entities to locate and utilize investment resources effectively through open and fair capital market in the long-term.
Load more

Recommended publications
  • Investment in Mongolia
    Investment in Mongolia KPMG in Mongolia 2016 Edition CONTENTS 1 COUNTRY OUTLINE 6 1.1 Introduction 6 1.2 Geography and climate 6 1.3 History 6 1.4 Political system 7 1.5 Population, language and religion 7 1.6 Currency 8 1.7 Public holidays 8 2 BUSINESS ENVIRONMENT 10 2.1 Mongolian economy overview 10 2.2 Economic trading partners 11 Exports 11 Imports 11 2.3 Business culture 11 2.4 Free trade zones 12 2.5 Foreign exchange controls 12 3 INVESTMENT CLIMATE FOR FOREIGN DIRECT INVESTMENT 14 3.1 Foreign investment opportunities 14 3.2 Foreign investment legislation 14 3.3 Commencing business in Mongolia 15 Practical considerations 15 Registration 15 Mergers, acquisitions and restructurings 16 Exit strategy 16 3.4 Financing 17 3.5 Intellectual property 17 Copyright 17 Trademarks and trade names 17 Patents 18 4 REPORTING, AUDITING AND THE REGULATORY ENVIRONMENT 20 4.1 Financial reporting 20 4.2 Auditing 21 4.3 Regulatory environment 21 Competition law 21 © 2016 KPMG Audit LLC, the Mongolian member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 2 / Investment in Mongolia Corporate governance 22 Land ownership and use 22 Anti-corruption law 23 Arbitration 23 5 TAXATION 25 5.1 General tax law 25 Overview 25 Rights and duties – taxpayers and tax authorities 26 Tax reporting and payments 26 Tax audits 26 Debt collection 27 5.2 Corporate tax 27 Overview of the corporate tax system 27 Taxable income 28 Losses 28 5.3 Transfer pricing 29 5.4 Double tax agreements
    [Show full text]
  • MONGOLIA CONSTRAINTS ANALYSIS a Diagnostic Study of the Most Binding Constraints to Economic Growth in Mongolia
    The production of this constraints analysis was led by the partner governments, and was used in the development of a Millennium Challenge Compact or threshold program. Although the preparation of the constraints analysis is a collaborative process, posting of the constraints analysis on this website does not constitute an endorsement by MCC of the content presented therein. 2014-001-1569-02 MONGOLIA CONSTRAINTS ANALYSIS A diagnostic study of the most binding constraints to economic growth in Mongolia August 18, 2016 Produced by National Secretariat for the Second Compact Agreement between the Government of Mongolia and the Millennium Challenge Corporation of the USA With technical assistance from the Millennium Challenge Corporation i Table of Contents Contents Table of Contents ............................................................................................................................................... i List of Figures ............................................................................................................................................... iv List of Tables ................................................................................................................................................ vi Glossary of Terms .......................................................................................................................................... viii 1. Executive Summary .................................................................................................................................
    [Show full text]
  • Mongolian European Chamber Of
    MONGOL Since 1991 the MESSENGER 500 ¥ No. 07-08 (1076-1077) MONGOLIA’S FIRST ENGLISH WEEKLY PUBLISHED BY MONTSAME NEWS AGENCY Friday, February 17, 2012 Mongolia Economic Happy Tsagaan Sar! Forum planned for early March The Mongolian Economic Forum 2012 will run on March 5-6. At a February 10 press conference, organizers of the forum reported about the preparations and measures for the forum. As of information given by MP S. Oyun; Deputy Finance Minister Ch.Gankhuyag; Ch.Khashchuluun, head of the National Development and Innovation Committee; and P.Tsagaan, senior advisor to the President, the forum that is to be organized for the third time, will run this year under the motto ‘Together for Development’. The forum will have sub-meetings under themes on economic development, social policy and competitiveness, and bring together over 1000 foreign and domestic participants. During the forum, it is planned to publicly introduce Mongolia’s development forum until 2021 issued by Open Society. MP S. Oyun said, “In reality, why isn’t poverty decreasing while the economy has grown over the past five or six years. We believe that issues on how to decrease poverty and what should be done for the fruits of economic growth to improve livelihoods will develop into hot discussions during the forum. For instance, the statistical figures on poverty percentages are very confusing. The National Statistical Committee evaluates the poverty rate at 39 percent while the World Bank says it is lower using a different methodology to evaluate poverty. Therefore,
    [Show full text]
  • Access to Finance: Developing the Microinsurance Market in Mongolia
    Access to Finance Developing the Microinsurance Market in Mongolia Mongolia experienced a challenging transition from socialist economy to market economy from 1990 onwards. Its commercial insurance market is still at its infancy, with gross written premiums in 2013 amounting to only 0.54% of gross domestic production. ADB undertook this technical assistance study to support microinsurance development in Mongolia. The study provides an overview of the development of Mongolia’s insurance market in ACCESS TO FINANCE general and the microinsurance segment in particular, then identifies gaps in the insurance regulatory framework that need to be bridged to expand microinsurance coverage to more households. DEVELOPING THE MICROINSURANCE MARKET IN MONGOLIA About the Asian Development Bank ADB’s vision is an Asia and Pacific region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their people. Despite the region’s many successes, it remains home to approximately two-thirds of the world’s poor: 1.6 billion people who live on less than $2 a day, with 733 million struggling on less than $1.25 a day. ADB is committed to reducing poverty through inclusive economic growth, environmentally sustainable growth, and regional integration. Based in Manila, ADB is owned by 67 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance. ISBN Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines www.adb.org Printed on recycled paper Printed in the Philippines ACCESS TO FINANCE DEVELOPING THE MICROINSURANCE MARKET IN MONGOLIA Access to Insurance Initiative Kelly Rendek and Martina Wiedmaier-Pfister © 2014 Asian Development Bank All rights reserved.
    [Show full text]
  • U.S.$5,000,000,000 GLOBAL MEDIUM TERM NOTE PROGRAM the GOVERNMENT of MONGOLIA Bofa Merrill Lynch Deutsche Bank HSBC J.P. Morgan
    INFORMATION MEMORANDUM U.S.$5,000,000,000 GLOBAL MEDIUM TERM NOTE PROGRAM THE GOVERNMENT OF MONGOLIA Under this U.S.$5,000,000,000 Global Medium Term Note Program (the “Program”), the Government of Mongolia (the “Issuer”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined in “Subscription and Sale”). Notes may be issued in bearer or registered form (respectively, “Bearer Notes” and “Registered Notes”). The aggregate nominal amount of all Notes to be issued under the Program will not exceed U.S.$5,000,000,000 or its equivalent in other currencies at the time of agreement to issue. The Notes and any relative Receipts and Coupons (as defined herein), will constitute direct, unconditional, unsubordinated and (subject to the Terms and Conditions of the Notes (the “Conditions”)) unsecured obligations of the Issuer and rank pari passu without any preference among themselves and (save for certain obligations required to be preferred by law) equally with all other unsecured and unsubordinated debt obligations of the Issuer. The Notes may be issued on a continuing basis to one or more of the Dealers. References in this Information Memorandum to the relevant Dealer shall, in the case of an issue of Notes being (or intended to be) subscribed for by more than one Dealer, be to all Dealers agreeing to subscribe for such Notes. Approval in-principle has been granted for the listing and quotation of Notes that may be issued pursuant to the Program and which are agreed at or prior to the time of issue thereof to be so listed and quoted on the Singapore Exchange Securities Trading Limited (the “SGX-ST”).
    [Show full text]
  • BDSEC JSC Weekly Market Update Mongolia’S Largest Broker December 7, 2020
    BDSEC JSC Weekly Market Update Mongolia’s Largest Broker December 7, 2020 MSE Market Commentary MSE Top Movers • MSE Top-20 Index was up 0.42%, MSE A Index ended higher 0.18%, When will MSE delist some companies? (marketinfo.mn) and MSE B Index decreased 0.01% Market capitalization amounted to • Mongolian Stock Exchange was established 30 years ago, and 2,606.3 billion and average volume of 134,654 shares were traded at an currently 194 companies listed on MSE. Of which businesses of many Indexes Points % Change aggregate average value of MNT 20.4 million. companies have already been halted, some companies have not held MSE Top-20 Index 17.658.44 +0.42% • APU (APU) was the most actively traded stock with an aggregate value shareholders meeting and violated interest of their shareholders, of MNT 19.8 million. Following was Erdene Resource Dev. (ERDN) with and stocks of some companies have not been traded in the market. MSE A Index 8,117.58 +0.18% its total value of MNT 11.3 million. However, Mongolian Stock Exchange has not taken arrangement on MSE B Index 7,326.15 -0.01% • Tier 1 top gainers of the week were Mongolian Mortgage Corp. (MIK), the matter till now. LendMN (LEND), and Bayangol Hotel (BNG) on the other hand BDSec • Looking at the statistics of stock trading, stocks of 58% out of all Market Summary Value (USD) (BDS) lost as much as 8.07% of its value and closed at MNT 791.5. companies listed on MSE have not been traded on the market for last Market capitalization 914,491,673 Mongolia Headlines one year.
    [Show full text]
  • Mongolia Investment Climate Statement 2017
    MONGOLIA INVESTMENT CLIMATE STATEMENT 2017 U.S. Department of State 2017 Mongolia Investment Climate Statement | June 2017 Table of Contents 1. Openness To, and Restrictions Upon, Foreign Investment ........................................ 4 Policies Towards Foreign Direct Investment .................................................................. 4 Limits on Foreign Control and Right to Private Ownership and Establishment ............ 6 Other Investment Policy Reviews..................................................................................... 6 Business Facilitation ........................................................................................................ 7 Outward Investment ......................................................................................................... 7 2. Bilateral Investment Agreements and Taxation Treaties .......................................... 7 3. Legal Regime ....................................................................................................................... 8 Transparency of the Regulatory System ........................................................................ 8 Legal System and Judicial Independence .................................................................... 10 Laws and Regulations on Foreign Direct Investment ................................................. 11 Competition and Anti-Trust Laws ................................................................................ 12 Expropriation and Compensation ...............................................................................
    [Show full text]
  • Doing Business with Mongolia
    Doing Business with Mongolia k u . o c . e d i u View of Ulaanbaatar from Zaisan Memorial G s s e n i s u B g n i o D . a i l o g n o M . w w w www.Mongolia.DoingBusinessGuide.co.uk Visit the Website and download the free Mobile App SUPPORTED BY: CONTENTS 8 Mongolia overview 9 Welcome from Lesley Batchelor OBE, FIEx (Grad) – Director General, Institute of Export & International Trade 12 Foreword from Philip Malone, Her Majesty’s Ambassador to Mongolia 14 Introduction from John Grogan, Chairman of the Mongolian British Chamber of Commerce 24 Why Mongolia? 16 About the Department for International Trade (DIT) 18 About UK Export Finance (UKEF) 22 About this Guide 2 34 Help available 24 Why Mongolia? for you 25 • Summary 26 • Geography 27 • Political situation 28 • Economic overview 30 • UK and Mongolia trade 34 Help available for you 36 • Support from the Mongolian British Chamber of Commerce (MBCC) • Support from the UK Department for International Trade (DIT) 40 • Support from the Institute of Export & International Trade (IOE&IT) 42 Getting here and advice about your stay 43 • Entry requirements 45 • Money • Local laws and customs 46 • Safety and security 47 • Health 52 Sector–specific opportunities 54 • Research • Government tenders 55 • Agriculture sector • Consumer goods sector • Education sector 56 • Legal and financial services sector • Mining sector 3 CONTENTS 42 58 Preparing to export 59 • Consultation and bespoke research 60 • Start-up considerations 62 • Direct exports and sales • Financial considerations 66 How to do business
    [Show full text]
  • Since 1991 the MESSENGER 500 ¥ No
    MONGOL Since 1991 the MESSENGER 500 ¥ No. 16 (1085) MONGOLIA’S FIRST ENGLISH WEEKLY PUBLISHED BY MONTSAME NEWS AGENCY Friday, April 20, 2012 ‘South S�Zorig would be 50 Gobi Sands’ Democratic leader remembered on his birthday licenses suspended B.Ooluun The Mineral Resources Authority of Mongolia (MRAM) suspended all exploration and mining licenses of the “SouthGobi Sands” Company for an indefinite period. The move to suspend the activity of this company was taken in connection with an agreement of SouthGobi Resources” LLC, the head company of “SouthGobi Sands”, to sell 57.6 percent of shares to ‘Chalco’ company, a state-owned of China until conclusion and notification by the government is issued, said acting MRAM chief M.Ariunbayar. Responding to a reporter’s question at an April 16 press conference pertaining to the “SouthGobi” agreement, M.Ariunbayar stated: “SouthGobi Sands” did not sell their exploration and mining licenses to ‘Chalco’ company. It is believed an agreement on the 57 percent stake sales of “SouthGobi Resources” head company is under discussion. The existing mining law has no regulation about it, but the revised draft law includes a provision saying that licensed business entities engaged in geological and mining activities in Mongolia are obliged to inform the government and get permission on change of ownership or exploitation On April 20, family and friends will gather to pay tribute at S.Zorig’s memorial across from the Central Post Office rights. The “SouthGobi Sands” licenses in force are suspended until an B.Ooluun Mongolia’s democratic revolution state leaders that the murderers who economy and free elections.
    [Show full text]
  • Mongolia 101 Mongolia
    Res ource Investment Res Cap Capital January 2 4 2011 Res Cap Mongolia 101 Initiating country coverage on one of the last remaining mining frontiers Res ource Investment Res Cap Capital January 24 2011 ResCap Mongolia 101 – One of the Last Remaining Mining Frontiers Mongolia - One of the Key Global Economic and Mining Stories of 2011 Nestled between two political giants - China and Russia, Mongolia is a vastly undeveloped resource rich country on the brink of an economic transformation. Thanks to positive recent political and economic developments, Mongolia is set for spectacular growth which is becoming noticed globally. And backed by its resource rich landscape of world class deposits, Mongolia has been coined the “Saudi Arabia of Coal” with strong parallels to previous natural resource booms around the world. The Mongol Rally Has Literally Just Begun A rally to attract foreign investment, re-develop the stock exchange, re-urbanize much of the population into sustainable housing and reignite a process to unlock much of the country’s wealth in state owned mineral assets, has brought many foreigners rallying into Ulaanbaatar. The potential for discovery of more world class assets such as Oyu Tolgoi has unlocked a wave of financiers and geologists flooding into Mongolia. But quite simply the fascination of the unknown in a country not very well understood but linked with enormous potential has naturally played into human nature and curiosity – root to many visitors arriving in Ulaanbaatar, financiers and tourists alike. Patriotism and History Underpinning Development Modern humans first arrived in Mongolia over 40,000 years ago and battled through waves of liberation, bloodless democratic revolution and one of the harshest climates on earth, now prospering through a young but developing free- market economy.
    [Show full text]
  • Data Collecting Survey for Development of Financial And
    Data Collecting Survey for Development of Financial and Capital Market, and Capacity Building of its Regulation and Supervision in Mongolia Final Report Data Collecting Survey for Development of Financial and Capital Market, Capacity Building its Regulation Supervision Mongolia Financial Regulatory Commission Data Collecting Survey for Development of Financial and Capital Market, and Capacity Building of its Regulation and Supervision in Mongolia Final Report March 2014 March 2014 Japan International Cooperation Agency (JICA) Japan Economic Research Institute Inc. Tokyo Stock Exchange, Inc. 3R JR 14-006 Data Collecting Survey for Development of Financial and Capital Market, and Capacity Building of its Regulation and Supervision in Mongolia Final Report Data Collecting Survey for Development of Financial and Capital Market, Capacity Building its Regulation Supervision Mongolia Financial Regulatory Commission Data Collecting Survey for Development of Financial and Capital Market, and Capacity Building of its Regulation and Supervision in Mongolia Final Report March 2014 March 2014 Japan International Cooperation Agency (JICA) Japan Economic Research Institute Inc. Tokyo Stock Exchange, Inc. Table of Contents 1. Introduction ······································································································· 1 2. Current situation of macro economy and financial/capital markets in Mongolia ················· 3 2.1 General situation of the macro economy ······························································ 3 2.2
    [Show full text]
  • Capital Market Development in Mongolia
    The Northeast Asian Economic eview Vol. 3, No. 2, October 2015 17 Capital Market Development in Mongolia V. Danaasuren* Abstract With its natural resource abundance, Mongolia is considered as an emerging market with potential for economic development. The growing economy needs money which is mostly generated by the financial sector, comprised of monetary and capital markets. This paper aims to introduce the capital market development in Mongolia through an analysis of its role in the financial sector, and its constituents and market performance. Keywords: capital market, Mongolia, development 1. Introduction With its natural resource abundance, Mongolia is considered an emerging market with potential for economic development. The country is one of the fastest growing economies, as its GDP growth ranged between −1.3% (in 2009) to 17.5% (in 2011) and averaged 7.7% over the last 15 years. Although the country has experienced volatile growth, its average growth is comparable to other fastest growing countries.The growing economy needs money which is mostly generated by the financial sector, comprised of monetary and capital markets. Although the capital market provides the majority of the long-term financing for economic development in developed countries, this is not the case in Mongolia. Therefore, the monetary market consisting of commercial banks performs the predominant role in the economy by disbursing the necessary financing for businesses.This paper aims to introduce capital market development in Mongolia through an analysis of its role in the financial sector, capital market participants, market performance and primary capital market performance in Mongolia. 2. Overview of Mongolia Mongolia is home to a population of three million and is a landlocked country with diverse landscapes and vast natural resources.
    [Show full text]