Oman Daily Observer: Investors wary of polls

Mongolia’s mining boom has transformed the former Soviet state into one of the world’s hottest economies, but an uncertain political outlook before parliamentary polls is making foreign investors wary. With huge untapped reserves of natural resources in the form of coal, copper and gold, and economic growth of 17 per cent last year, Mongolia has become a major draw for foreign investment. But most of Mongolia’s 2.7 million people remain desperately poor, despite the expensive cars that now crowd the streets of the capital, Ulan Bator, where property prices are rising by 25 to 30 per cent a year. The government now faces mounting pressure to grab a larger stake of the resources ahead of parliamentary polls on June 28, and investors have placed new projects and deals on the back burner as they await the result. To read the full article, click hereInvestors wary of polls

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