Mark your calendar for the “Invest Gobi 2023” investment forum, taking place in Umnugobi province on the 28th and 29th of this month. Wondering why Gobi is a prime destination? Here’s why.

#1: Ever bigger economy

Mongolia's GDP surged 4.5 times, with Umnugobi's growth even higher at 4.8 times, reaching ₮1.1 trillion in 2010-2021. Interestingly, it now constitutes 2.6% of the nation's GDP. Mining made up 69.5% of Umnugobi's GDP in 2010. But by 2021, it reduced to 29.8%, while the manufacturing sector surged to 44.9%.

• BIG Budget: Additionally, Umnugobi alone generated an impressive 43.7% of the total budget income of 21 Mongolian provinces as of the first 7 months this year. In this sense, Umnugobi has secured the highest revenue contribution to the state budget, amounting to ₮385.1 billion.

#2: Competitive edge

While each of the 21 provinces has its own distinctive features, Umnugobi holds an astonishing 4th position in the overall provincial competitiveness evaluation with 85.3 points, 20.3 points higher than what most provinces got on average.

• Why?: The province stands out because it has one of the world's biggest copper-gold mines and has strategic border proximity with China. Across the key categories of economy, governance, infrastructure, and business efficiency, it surpasses the provincial averages significantly.

#3: Buying power

Umnugobi stands strong, securing the 2nd among 21 provinces for a balance of both individual and business accounts. And that balance in both MNT and foreign currency accounts’ equally is influenced by the presence of foreign-invested mining sectors in Umnugobi. Moreover, due to the province's income surpassing its expenses, Umnugobi ranks 3rd out of the 21 provinces with savings of ₮148 billion.

"Invest Gobi 2023" investment forum aims to enlighten both local and international businessmen and investors about Umnugobi province. It's a platform to discuss specific concerns, explore solutions, and share vital information. Access the forum program details HERE.