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Dawn in Mongolia was an amazing thing. In one instant, the horizon became a faint line suspended in the darkness, and then the line was drawn upward, higher and higher. It was as if a giant hand had stretched down from the sky and slowly lifted the curtain of night from the face of the earth. It was a magnificent sight, far greater in scale... than anything that I, with my limited human faculties, could fully comprehend.
Haruki Murakami: 'The Wind-Up Bird Chronicle'
The ministerial make-up of Mongolia’s new coalition government had been officially completed in August 2012, when parliament approved the appointment of the five remaining cabinet members. The Mongolian Prime Minister Altanhuyag emphasized the importance of foreign investment to Mongolia, noting in a post-election speech that foreign direct investment played ‘a significant role in the development of the economy. The new government will be open to foreign investment’ he continued, promising that the government would strengthen transparent, favourable legal frameworks for foreign investment. International investors had been waiting for some time for the new government to confirm its attitude towards foreign investment following a period of uncertainty since the June 2012 general election.
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- Political structure
- Main cities
- Languages spoken
- Industry and manufacturing
- Financial markets
- Banking and insurance
- Dress codes
- Entry requirements
- Health (for visitors)
- Credit cards
- Public holidays
- Working hours
- Social customs and useful tips
- Getting there
- Getting about
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Official name: Mongol Uls (The State of Mongolia)
Head of State: President Tsakhiagiyn Elbegdorj (since 18 Jun 2009, re-elected 26 Jun 2013)
Head of government: Prime Minister Chimed Saikhanbileg (since 21 November 2014), he replaced Norov Altankhuyag who was removed from his post following a no-confidence vote on 5 November 2014.
Ruling party: Coalition led by Ardchilsan Nam (Democratic Party) (DP) with Shudarga Yos Evsel (Justice Coalition) (JC) and Irgenii Zorig-Nogoon Nam (Civil Will-Green Party) (CWGP) (from 10 Aug 2012)
Area: 1,565,000 square km
Population: 2.92 million (2014)*
Capital: Ulaanbaatar (Ulan Bator) (formerly Urga)
Official language: Khalkha Mongolian
Currency: Tugrik (Tug)
Exchange rate: Tug1,994.50 per US$ (Nov 2015)
GDP per capita: US$4,096 (2014)*
GDP real growth: 7.82% (2014)*
GDP: US$11.98 billion (2014)*
Unemployment: 8.77% (2014)*
Inflation: 12.91% (2014)
Balance of trade: -US$1.31 billion (2013)*
Annual FDI: US$4.71 billion (2011)
* estimated figure