• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 30
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Fostering Stronger Business Ties Between Mongolia and the United States 
Finance

Fostering Stronger Business Ties Between Mongolia and the United States 

January 16, 2025No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Mongolia, US Seek to Advance Economic Ties  
Share
Facebook Twitter LinkedIn Pinterest Email

On January 20, President-elect Donald Trump will start his second term in the White House. As an incoming president, Trump’s policies toward Mongolia in particular, and the greater Asia-Pacific region in general, will likely be dictated by business connections and personal ties. During the Biden administration, Mongolia-U.S. relations have expanded; however, there are more opportunities for American businesses to enter Mongolia’s market.

When U.S. President Joe Biden took office in 2021, Mongolia’s investment landscape presented a mix of opportunities and challenges for foreign businesses. To American investors and businesses, Mongolia was viewed as a profitable destination, but some key barriers persisted. In promoting U.S. businesses in Mongolia, the American Chamber of Commerce in Mongolia (AmCham) has consistently championed Mongolia as an investment destination, highlighting its strategic potential and fostering bilateral trade and economic cooperation. 

During the Biden administration, Mongolia and the United States have continued to strengthen business mechanisms between Ulaanbaatar and Washington, but improving the investment climate was a crucial task. In response to the challenging investment climate, AmCham has played a proactive role and has been working closely with policymakers to advocate for reforms that support U.S. business interests. 

Since 2014, AmCham has been hosting the U.S. Trade Doorknock Mission to encourage business leaders from Mongolia to engage with a range of high-level policymakers in Washington, D.C. These policy dialogues help support Mongolia-U.S. joint advocacy for a private sector-driven, free market economy to attract investment. Through Doorknock, AmCham has facilitated connections with key financial institutions like the U.S. Development Finance Corporation (DFC) and Export-Import Bank. These efforts unlock direct access to U.S. financing for businesses, women-owned entrepreneurial projects, fintech, financial services, and telecommunications.

See also  Smart Business Tools For Smart Businesses

Moreover, in 2023, AmCham submitted over 80 detailed comments on proposed amendments to the Investment Law and now leads a sub-taskforce, in collaboration with the Deputy Prime Minister’s Office, to drive comprehensive legal reforms. Other key initiatives include engaging in government consultations to strengthen the FDI legal framework, launching a public foreign direct investment promotion campaign, and organizing discussions such as the 2022 U.S. State Department Investment Climate Statement panel.  

As strategic partners, Mongolia and the United States have expanded major projects such as the Millennium Challenge Corporation (MCC) Compact. The MCC’s $462 million pledge is designed to address the critical water supply challenges in Ulaanbaatar, the Mongolian capital. As of September 2024, $305.5 million (87.3 percent of the grant) has been committed to projects. As a joint endeavor, the Mongolian government has pledged up to $111.8 million to support these investments. 

Major investments and projects like MCC highlight the U.S. commitment to addressing Mongolia’s pressing social and economic challenges. As AmCham put it, “The MCC Compact not only improves essential infrastructure but also strengthens the broader U.S.-Mongolia partnership.”

On January 14, 2024, the DFC approved a $150 million loan to the Mongolian Mortgage Corporation (MIK). According to the Embassy of Mongolia in Washington, “This investment is designed to support women borrowers and low- to middle-income households, with the primary objective of enhancing housing accessibility in Mongolia.”

Beyond these examples of financial assistance, one of the major win for Mongolia-U.S. ties during the Biden administration was the 2023 Open Skies Agreement, which will allow a direct flights starting in May 2025. 

See also  NY Times reporter quickly exposes glaring hole in KJP's answer about Biden's role in Hunter's business dealings

Despite these positive trends, during the Biden administration, there was no substantial increase in U.S. businesses entering Mongolia. Instead, General Electric, a major U.S. corporation, shuttered its office in Ulaanbaatar. American investors have repeatedly pointed to bureaucratic inefficiencies, unpredictable regulatory changes, and lengthy dispute resolution processes as major challenges in entering and operating in the Mongolian market. In addition, Mongolia’s corruption index did not improve in the last two years. 

Another major obstacle AmCham has noted is that Mongolia’s investment is somewhat closed to American businesses. A minimum investment of $100,000 is required for foreign investors to establish ventures, unlike Mongolian businesses, which face no such threshold. Additionally, only Mongolian citizens are entitled to land ownership, with foreign investors restricted to renewable use rights.

Furthermore, though business registration has been streamlined in theory, with provisions allowing foreign businesses – including U.S. companies – to complete the process online through the State Registration Office, the implementation leaves something to be desired. Many U.S. businesspeople believe that the process is not only challenged by bureaucratic inefficacies but also still requires massive manual paperwork, reviews, and approvals, which often extend over weeks or months. 

Closing a business is even more challenging, often requiring 18 to 24 months to navigate administrative and judicial hurdles. Regulatory inconsistencies at provincial and municipal levels, compounded by a lack of expertise among inspectors, further complicate operations. 

While Mongolia’s strategic location and rich natural resources offer tremendous investment and businesses opportunities, there are domestic issues the government can improve. Issues such as regulatory unpredictability, corruption, bureaucracy, and judicial weaknesses remain significant obstacles. By addressing these issues – through improved transparency, streamlined processes, and regulatory consistency – Mongolia’s traditional and emerging sectors can benefit from investment and business opportunities.  

See also  Canada Gave $200,000 to Group Accused of Chinese Police Ties

To Mongolia, the incoming administration of Donald Trump can be a fresh start. The president, who signed the United States’ strategic partnership with Mongolia in 2019, will play a key role in strengthening investment profiles and expanding business opportunities between the two countries. 

As Mongolia strives to diversify its exports and investment profiles, emerging sectors such as fast food franchises, convenience stores, organic products, and cashmere luxury goods can benefit from U.S. business ties. In the United States, Mongolia’s traditional industries like cashmere apparel and agriculture show strong promise; brands such as Gobi and Quince have successfully entered the U.S. market. 

Mongolia-U.S. business and investment relations during the Biden administration have seen important developments, but they have also been tempered by the challenges of Mongolia’s investment climate. AmCham has consistently supported initiatives that align with U.S. development priorities in Mongolia. With a new administration coming to the Oval Office, it is crucial to advocate investments in infrastructure, business climate reforms, and sustainable development projects. 

Business Fostering Mongolia states stronger ties United
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

May 27, 2025

Business Experts Sound Alarm On DEI Initiatives In Corporate America

April 22, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Russia Launched Large Series of Missiles on Ukraine Amid Wagner Mutiny

June 29, 2023

Indian drug manufacturers benefit from Big Pharma interest beyond China

November 27, 2023

Jonas Vingegaard Wins Tour de France Again After Vanquishing His Rival

July 23, 2023

Time Announced for Every Cellphone, TV, Radio, in America to Sound Alarm

October 3, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Hannity Presses DeSantis: What Happened Between You and Donald Trump?

April 26, 2023

US Questions Shein, Adidas, Nike Over Forced Chinese Labour Concerns

May 3, 2023

Tips To Avoid The January Blues

January 24, 2024
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.