Attachment
The American Independent Capital Group, Inc (AICG) and a group of three other individuals reached agreement on January 14, 2010 to open a branch office of AICG in Ulaanbaatar, the capital of Mongolia. AICG expects the new location to be operational in March of 2010. AICG is an international company that provides assistance to enterprises seeking capital funding for business projects.
AICG will own 51% of the new enterprise. The remaining 49% is owned by Ms. Si Qin, a Mongolian citizen, Mr. David Borjiking, a Mongolian residing in the United States, Mr. HaSi Bateer, a Chinese citizen and ethnic Mongolian, and Mr. Chen, a Chinese citizen. AICG and its partners believe that now is the right time to enter into a market that is expected to be a hotbed of international investment in the near future.
Mongolia offers an abundance of natural resources, a stable and democratically elected government, and proximity to huge markets in Northeast Asia. The current president of Mongolia, Tsakhiagiin Elbegdorj, received his advanced education in the United States and is actively promoting foreign investment in Mongolia. According to the Mongolian Ministry of Foreign Affairs the country offers the following competitive advantages to foreign investors:
• A stable political environment and an open economy;
• Strategic and easy access to the giant markets of Russia and China;
• Extensive natural resources;
• Favourable legal environment;
• Relatively young and educated population;
• Vast territory, clean and undisturbed nature
Currently the main areas for foreign investment in Mongolia are mining, tourism, infrastructure, and agricultural processing.
AICG plans to utilize the cultural understanding, local knowledge, and language skills of its Mongolian partners to provide access to funds for companies doing business in Mongolia.
Photo:
http://www.prlog.org/
