News

22.06.13

future mongolia

BOOTH E 21 German Presentation

www.future-mongolia.german-pavilion.com 

Capital Goods Trade Fair “Future Mongolia” to be held in Ulan Bator again in June

Ulan Bator/Mongolia – After its remarkable success last year the capital goods trade fair “Future Mongolia” will once again be held in the Mongolian capital of Ulan Bator from 19 to 22 June. The organiser expects approximately 120 exhibitors from various nations.

Posting double-digit annual growth rates for its gross national product, Mongolia is one of the fastest developing economies in the world. For 2013 alone leading economic research institutes forecast another increase of between 15% and 18%. Finance experts are already speaking of the future “Dubai of the East”. What they mean here is the state capital Ulan Bator with its roughly 1.2 million inhabitants – the centre of the economic and cultural life of the country with its just under three million inhabitants.

The reason for this immense growth is the country’s so far scarcely assessable wealth in natural resources – especially coal, copper, gold and rare earths. A large proportion of the billions of revenue flowing to the state from the raw materials sector year after year is invested in the country’s development, especially in its infrastructure. Required are nearly all types of capital goods in addition to mining technology. Existing machinery and equipment still often date back to Soviet times, are completely obsolete and spare parts are hard to obtain if at all. Which is why investment in new – and to replace old – equipment in many a sector is financially supported by the state by means of tax concessions or other subsidies.

The Trade Fair is supported by VDMA, the German Machinery and Plant Manufacturers’ Association, that acts as a conceptual sponsor for “Future Mongolia”.

IWG Isolier Wendt is participating in 2013 for the first time and will delighted to host all participants and guest on booth 21, German Pavilion.