We would like to thank UBCC , AmCham (Mongolia), Business Council Mongolia for making this a successful launch.
#understandpolitics Read more about what happened in the exclusive event here:
(In the photo from L to R: Ms. Enkhzul Orgodol, Founding president of DBiAA; Dr. Robin Michael Garcia, CEO of W&R; Mr. Luis Arcangel, Chairman of W&R partner firm Montgomery Fitch + Associates; Mr. Batsugar Tsedendamba, Executive Director, Independent Research Institute Mongolia)
Ulaanbaatar, Mongolia – Looking to enlighten potential corporations and investors on the business and economic environment of Mongolia, Warwick & Roger partnered with the Independent Research Institute of Mongolia to launch the inaugural report, entitled Political Risks and Outlook for Businesses in Mongolia 2019. Held last January 16, the exclusive event was attended by representatives of various chambers of commerce as well as delegates from major businesses already established in Mongolia.
Founder and CEO of Warwick & Roger, Dr. Robin Garcia discussed the main risks the current political climate of Mongolia poses for prospective businesses. Garcia highlighted the important role of understanding the different domestic political institutions and how they impact the success of businesses. This can be broken down into two thematic streams – domestic conditions and international strategies.
(The esteemed panel: Professor Byambasuren Yadmaa of IRIM, Dr. Robin Garcia, and Mr. Batsugar Tsedendamba.)
Evidently, the condition of the domestic political environment largely determines the risks that businesses will face. These conditions include volatile leadership occupation resulting in officials seeking legitimacy in office over pushing for reform initiatives, the statutory limitations and protectionist policies in place that gives less incentive for businesses and investors to participate in the Mongolian markets, and the increased civil unrest in the capital that shows real threats to the safety of workers as well as the security of company facilities.
Focus on international strategy is also important to discuss. Currently, Mongolia’s trade structure is primarily, if not exclusively, reliant on China. However, due to sinophobic economic populism prevalent in the Mongolian polity, there is room for new economic partners such as Japan and the United States.
The pace of evolution in the Mongolian political environment only highlights the benefits of understanding the political risks for successful business operations.
Written by Alicia Sabarre
If you are interested in getting a full copy of the 2019 Political Risks and Outlook Mongolia, or would like to discuss what you have read here, send us an email support@wradvisory.co