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Mongolia to open free trade zone, near Chinese border |
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Thursday, 27 April 2006 |
As part of the Northeast Asia Conference, top Mongolian government and Winwheel Bullion officials will announce the creation of the Zamiin Uud Free Economic Zone, a new international free trade zone, strengthening the position of Mongolia and Northeast Asia in the global economy.
Located 350 miles northwest of Beijing, China, the Zamiin Uud (pronounced ZA-meen OOD) Free Economic Zone will be the result of an unprecedented partnership between the Mongolian government and the U.S.-based real estate developer, Winwheel Bullion. The Mongolian government will provide 104,000 acres of land for development of a master-planned commercial center, Phase I of which will be a 2,224 acre development that will include a base infrastructure of hotels, casino resorts, a convention center, shopping complexes, banks and financial institutions, and other industrial complexes. In addition, they will construct Odonchimed International Airport to service the region.
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