In the coming years, Mongolia is expected to become one of the fastest-growing economies in the world, thanks in large part to its significant mineral reserves, agricultural endowments and proximity to Asia. While mining accounts for a large portion of the country’s GDP, the government continues to seek opportunities to diversify the economy. Agriculture, infrastructure and cleantech are sectors that are expected to provide economic diversification along with opportunity for Canadian exporters. The government has begun to take positive steps to address fiscal stability, however, Mongolia’s budgetary environment continues to pose challenges due to persistent and low commodity prices that are expected to continue to undermine the country's macroeconomic performance. To help address fiscal constraints, Mongolia is strongly encouraging foreign direct investment into the country but requires further legislative and regulatory reforms in order to increase investment.
- Construction & Infrastructure
- Environmental Infrastructure & Waste Water
- Mining & Metals