Prime Minister Saikhanbileg’s global message: “Mongolia is back in business”

Prime Minister Ch. Saikhanbileg’s energetic campaign to reignite foreign direct investment has reached around the globe during the first seven months of 2015. His successes include a US$1 billion Mongolia investment fund from the government of India,  creation of a $1 billion  fund by the Arab CIB Finance Group in the United Arab Emirates (UAE), and  increased interest by Japanese corporations following the signing of the Mongolia-Japan Economic Partnership agreement in February. Along the way, the Prime Minister also achieved a landmark agreement in May with Rio Tinto and Turquoise Hill Resources of Vancouver  to move forward expeditiously on the underground phase of  the huge Oyu Tolgoi mine and has laid the groundwork for development of the state-owned Tavan Tolgoi coal fields, which includes new rail links to foreign markets.

In June and July, he carried this message to Washington, DC, New York and London, accompanied by intensive news media coverage. In Washington, he met with Vice President Joe Biden in the White House and other senior UJS officials and was feted at a well-attended US-Mongolia Business Forum dinner co-sponsored by four NAMBC member companies and the US Chamber of Commerce. He also met with US-based existing and potential investors. In London, he met with Prime Minister David Cameron as well as leaders of the financial community.