Mongolia on the move
To ensure an increasing domestic supply of the rapidly-expanding Mongolian cement market, existing producers are expanding and modernising their production base and new players are entering the market. In a transformation process not seen in the past three decades, Mongolia’s cement industry is clearly going places.
While Mongolia remains among the world’s fastest-growing economies – GDP expanded by 11.7 per cent in 2013 – a deceleration is expected for this year. In the first half of 2014, growth was recorded at 5.3 per cent, and for the full year the government is anticipating expansion of 9.1 per cent while the Asian Development Bank (ADB) and IMF have forecast a slightly higher rate of 9.5 per cent.