More than 120 foreign investors, along with representatives of the Bank of Mongolia and Mongolia's private sector, participated in the expanded "Unlock Mongolian Economy" meeting of the Economic Council under the Prime Minister of Mongolia.

Key outcomes of the meeting include:

Six investment agreements and memorandums of understanding worth a combined USD 545 million were signed.
Phillip Capital, a Singapore-based investment management firm overseeing USD 65 billion in assets, announced plans to open an office in Mongolia.
Hungary's OTP Bank formally submitted its application to establish a branch in Mongolia to the Prime Minister.
Addressing the meeting, the Prime Minister of Mongolia said the discussions held during the Summer Davos Meeting in Dalian on policy stability, economic diversification, and Mongolia's development opportunities had now been translated into more detailed talks. He briefed investors on the country's efforts to improve its legal and investment framework, including the government's "Liberate" reform agenda, emphasizing that the meeting had already produced tangible results in attracting investment to Mongolia.

During the discussion, László Wolf, Member of the Board of Directors of OTP Bank, said that if the bank enters the Mongolian market, it would be prepared to finance large-scale projects and is also interested in offering mortgage products. He noted that Mongolia's current legal framework is not yet particularly favorable for foreign banks but welcomed the Prime Minister's commitment to legal reforms and market liberalization. "The government's reforms and planned liberalization will create greater opportunities for us to invest in Mongolia. Investors highly appreciate the reforms that have been implemented and those currently being planned."

Meanwhile, Luís Santos, co-founder of European investment management company Alpac Capital, which specializes in technology and renewable energy investments, said Mongolia has established the necessary conditions to attract Western investors.

"Mongolia has moved beyond being a destination primarily for tourists and is now becoming an attractive destination for international investors. We see the country strengthening investor confidence, creating a stable business environment, and consistently reinforcing the foundations of good governance. It gives us confidence to return to Mongolia and pursue long-term cooperation," Santos said.

Published Date:2026-07-01