After two years of relative misery, foreign investors are beginning to feel more optimistic about Mongolia as attention swings back to the business of extracting the country's ample natural resources and away from its extravagant domestic politics.
With Tsakhiagiin Elbegdorj re-elected as president this summer and a new parliament chosen a year earlier, there are now no more national elections due until 2016, setting the scene for a recovery in foreign investment, speakers at the Mongolian Investment Summit in Hong Kong said on Tuesday.
“We’re optimistic on all Mongolian assets,” said James Passin, co-founder of Firebird Management, which has invested more than $100 million in Mongolia....
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