Hundreds of businesses drawn to Mongolian free trade zone

Tue, 2008-11-25 10:41

Ceremonies marked the opening
of a free trade zone last week in Mongolia. 

Some 400 hectares have been
set aside for building businesses in Selenge aimag's Altanbulag soum.
Working as a group, hundreds of businesses from seven countries signed
a $600 million USD contract to build in the area. 

A variety of businesses, including
manufacturing facilities, will operate within the free trade zone. 

Attending the ceremony were
O.Chuluunbat, E.Bat-Uul MPs; V.A.Govorin, an Ambassador Extraordinary
and Plenipotentiary of the Russian Federation to Mongolia; J.Erdenebat,
a governor of Selenge aimag; and Mongolian and Russian businessmen.  

Some 10,000 Mongolian citizens
are expected to eventually work and live within the free trade zone
area.

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Archived Comments
INTJay
2008-11-25 20:00:47
Wow, seems like a great move for the country. Anybody out there got moe details or opinions on this?
roydongen
2008-11-26 01:26:10
Indeed another step forward for the sustainability of the Mongolian Economy. Also the probably even more important free trade zone in Zamin Uud at the Mongolian-Chinese border is well underway. Reason for the Netherlands (EU) Mongolian audit and accounting firm Panthere Midland Audit to open a branch office in the Provincial capital Shainshand to serve the national and international business in the area.

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See also

Mongolia OK’s agreement on regional business development