OT Investment Agreement expected to be signed shortly

Government of Mongolia is to ink the massive Oyu Tolgoi investment agreement agreement shortly.
Some analysts predict this will signal start of huge investment in Mongolia.
All the investments made in Mongolia before is insignificant compared to the scale of Oyu Tolgoi investment.

One time, John Macken, Director of Ivanhoe Mines Ltd described this investment as "honeybee" that will generate jobs and wealth in Mongolia.It will create jobs for ordinary Mongolians rather than take away jobs from Mongolians, said the executive.

Currently, many of Mongolian small business sectors such as restaurants, cafes, laundries, construction are dominated by Chinese and South Korean owned small businesses.

Large tourism companies based outside of Mongolia takes away huge chunks of tourism revenue generated in country.

We have to wait and see if Ivanhoe and Rio can really be the "honeybee" rather than "fly" that just buzzes around and does not benefit local Mongolians.....

By Ganbat, reporter of MonInfo News Service



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