Parts of Speech

“A financial crisis is just like a human illness.  When a person falls ill, his previous complaints show up again, if only as side effects. Similarly, the economic crisis is revealing the mistakes of our past policies. In this, it is like a test. Certain sectors are failing the test.”
S. Bayartsogt, Finance Minister.


“In today’s Mongolia Government banks are institutions devoted to wasting money in all directions. They give away money as instructed by the authorities, without any sense of commercial viability.”
O.Chuluunbat, member of Parliament.

“It is unfortunate that the Mongolian Government has not insisted on priority rights for domestic companies to provide services to the mining projects.  It should boldly tell the investor, ‘You do the mining according to  international standards. And leave the roads, and power grid construction to Mongolian companies. Catering and construction of buildings can be all done by Mongolians. What benefit do we get if 50,000 Chinese workers and Chinese row materials are used in the construction work for Oyu Tolgoi. All the profit would flow away from Mongolia.  The laws we pass should not have a one-month or one-year lifetime.”
L.Gantumur, member of Parliament.


“The banking sector and businesses suffer losses because of the Government’s wrong policies, not because of their own weakness.  When the Central Bank initiated its strict monetary policy in March, it decided to fix the exchange rate by any means, even if this meant letting the private sector go. It has now declined as far as it can. The economy we have today does not function, but the Central Bank leaders are happy that the exchange rate is stable.”
S.Demberel, Chairman of the Mongolia National Chamber of Commerce and Industry.
 

“Mongolia is an extended China play. The growth in Asia is going to drive the world economy...China is going to drive Asia, and China needs resources.  They’re going to come from Mongolia, which has everything that China needs. Mongolia now has a business-friendly government that’s just put its money where its mouth has been in the last decade and we’re ready to take off. Altogether Mongolia is a very, very attractive investment opportunity.
You are sort of going to be breaking the path going forward, but we don’t see too many political risks or policy risks or flip flops in that sense.”
Mandar Jayawant, of Frontier Investment & Development Partners.


 “It is sad to find that when we say the mining sector will be the engine for the country’s development, we create a wrong perception. Some fear that all mineral wealth will be exhausted by the present generation while others feel that mineral resources are inexhaustible. The state should implement policies for the gradual and efficient use of our mineral wealth.”
D.Demberel, Chairman of the State Great Hural.

“Infrastructure issues need to be resolved before anything else. If we don’t set up the proper infrastructure, we shall face more and negative effects from the mining industry.”
J.Badraa, Governor of Omnogobi aimag