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| Investment Agency of Mongolia | |
|---|---|
| Name | Investment Agency of Mongolia |
| Formed | 2013 |
| Jurisdiction | Ulaanbaatar |
| Headquarters | Ulaanbaatar |
Investment Agency of Mongolia The Investment Agency of Mongolia is a state-sponsored institution responsible for attracting foreign direct investment into Mongolia and facilitating public–private partnerships across key sectors. It operates from Ulaanbaatar and coordinates with ministries, regional authorities, and international financiers to promote projects in mining, energy, agriculture, and infrastructure. The Agency engages with multilateral development banks, sovereign investors, and multinational corporations to align inward investment with national development strategies.
The Agency functions as a national investment promotion agency linking Ministry of Finance (Mongolia), Ministry of Economic Development (Mongolia), and provincial administrations such as Darkhan-Uul Province and Dornod Province to investors from countries including China, Japan, Russia, South Korea, and members of the European Union. It serves as a one-stop shop for licensing and facilitation comparable to counterparts like Invest in Canada, UK Trade & Investment, and ProChile. The Agency engages with private sector actors including Rio Tinto Group, Turquoise Hill Resources, Erdenes Tavan Tolgoi, Coca‑Cola, and regional banks such as Golomt Bank.
The Agency was established amid reforms following agreements with institutions such as the World Bank and the Asian Development Bank to improve Mongolia's investment climate after the commodity-driven boom of the early 2010s. Its creation reflected policy debates involving figures and entities like Tsakhiagiin Elbegdorj, Chimed Saikhanbileg, and policymakers tied to the Democratic Party (Mongolia) and Mongolian People's Party. Early initiatives referenced international models from Singapore, Chile, and the United Arab Emirates to streamline processes affected by laws including the Foreign Investment Law (Mongolia) and amendments to mining legislation.
The Agency's mandate includes promoting foreign direct investment, facilitating Public–Private Partnership procurement, and improving the implementation of flagship projects such as cross-border rail and power links with Trans‑Mongolian Railway, China National Petroleum Corporation, and Rosatom. It administers investor services, coordinates environmental assessments with the Ministry of Environment and Tourism (Mongolia), liaises on land lease matters involving provinces like Selenge Province and Orkhon Province, and supports compliance with standards promoted by organizations such as the International Finance Corporation and United Nations Conference on Trade and Development.
The Agency is typically organized into departments for investment promotion, project facilitation, legal affairs, and international cooperation. It reports to cabinet-level authorities and works alongside entities such as the State Great Khural, Prime Minister of Mongolia, and regulatory bodies like the Financial Regulatory Commission (Mongolia). Senior officials coordinate with bilateral partners including Japan International Cooperation Agency, KfW, and export credit agencies such as Export‑Import Bank of China.
Services include market intelligence, matchmaking with strategic investors like Fortescue Metals Group and BHP, assistance with licensing comparable to procedures used by Singapore Economic Development Board, and support for project financing with institutions such as the Asian Infrastructure Investment Bank and European Bank for Reconstruction and Development. The Agency organizes roadshows, investor forums, and participates in exhibitions alongside delegations from ASEAN, BRICS, and forums like the World Economic Forum.
Key initiatives have targeted the Oyu Tolgoi mine value chain, coal development in Tavan Tolgoi, renewable energy projects with partners like Siemens and GE Renewable Energy, and transport corridors linking to Trans‑Siberian Railway and ports on the Bohai Sea. Projects also include agro-processing ventures engaging companies such as Nestlé and Cargill, and urban infrastructure pilots collaborating with cities like Erdenet and international donors including the Asian Development Bank.
Governance includes statutory reporting to the State Great Khural and oversight from the Auditor General of Mongolia and central bodies like the Ministry of Justice and Home Affairs (Mongolia) on compliance. Funding sources comprise state budget appropriations, project-based fees, and donor grants from entities including the World Bank and Swedish International Development Cooperation Agency. Anti-corruption frameworks reference conventions such as the United Nations Convention against Corruption and national anti-corruption bodies interacting with agencies like Transparency International.
The Agency engages bilaterally with counterparts in China Council for the Promotion of International Trade, Japan External Trade Organization, and Enterprise Singapore, and multilaterally through UNCTAD, OECD dialogues, and regional mechanisms like the Shanghai Cooperation Organisation. Its efforts have influenced foreign investment flows from states and corporations such as Kazakhstan, India, Turkey, Mitsubishi Corporation, and TotalEnergies, shaping outcomes in mining, energy trade, and supply chain integration with markets like South Korea and the European Union.
Category:Economy of Mongolia Category:Organizations based in Ulaanbaatar