Mongolia: Investing in Asia's New Frontier
Since communism collapsed more than 20 years ago, Mongolia’s political and economic systems have undergone profound change as this young democracy has moved to a market-driven economy. Foreign investors and advisers who have chartered the country’s path of reform and liberalisation have often been surprised by the erratic course of progress, and observers have expressed concern regarding certain shifts in economic and political policy.
However, for the first time in its democratic history, the four most important political positions in Mongolia are in the control of one party – giving hope for a period of political stability. The President, Prime Minister, Chairman of the Great State Khural (Parliament) and the Mayor of the City of Ulaanbaatar are all from the Democratic Party. With no elections due for approximately the next three years, the government will be able to focus on addressing critical issues through objective analysis, rather than by reacting to public sentiment.