Forbes: Two Brothers Conquer Mongolia’s Free-Market Wild West

The wristwatch is the first giveaway. A solid gold Piaget surrounded by a corona of diamonds. This is no ordinary Mongolian businessman. Tserenjigmed Dagvadorj and his younger brother Ganbaatar preside over the Max Group, a blossoming conglomerate. They began in the late 1980s to trade underground in skins and furs amid waning Soviet domination. Today in Mongolia’s free-market Wild West you find their Max Supermarkets and milk bottler, Berlinburger fast foods, Maxipot restaurants, Max Roads (construction), Max Windows (windows and doors factory), Max Urguu (real estate development and construction), hotels (including the capital Ulaanbaatar’s newest, the Ramada, whose first guests were the 100-member advance party for Vice President Joe Biden), retail shops from clothing to furniture, the new Max Center shopping mall, with a second on the way (to house their retailing enterprises) and, of course, Max Mining, a couple of gold digs. To read the full article, click hereTwo Brothers Conquer Mongolia’s Free-Market Wild West

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