The Business Council of Mongolia (BCM), in collaboration with Invest Hong Kong and with the support of the Hong Kong Stock Exchange (HKEX), organized a seminar on 14 March 2025 to explore business and investment opportunities in Hong Kong for Mongolian enterprises. The event served as a platform for industry leaders to discuss access to capital markets, trade and logistics advantages, professional services for market entry, and the benefits of listing on HKEX. Key discussions centered on strengthening partnerships between Mongolian and Hong Kong businesses to enhance global competitiveness and economic growth.

In his opening remarks, BCM Chair Ts. Tumentsogt highlighted Mongolia’s significant market growth, noting that market capitalization has expanded 8.7 times over the past decade and 4.7 times in the last five years. Several Mongolian companies are already listed on major international exchanges such as the TSX and HKEX, demonstrating the country’s growing presence in global financial markets. He emphasized that Hong Kong offers vast opportunities across multiple sectors and that the seminar aimed to provide practical insights into overcoming market entry barriers and developing effective strategies for expansion.

Hong Kong as a Gateway for Business Expansion

Leonid Orlov, Principal Consultant at Invest Hong Kong, presented on the advantages of using Hong Kong as a business expansion hub. He highlighted the city’s position as the world’s leading free economy and a premier global financial center, home to over 10,000 companies with parent organizations outside Hong Kong. With its low and simple tax system, strong intellectual property protections, and extensive free trade agreements, Hong Kong remains a prime destination for businesses looking to scale internationally. Key priority sectors include financial services, fintech, maritime trade, education, cultural industries, and advanced manufacturing. Additionally, Invest Hong Kong offers free advisory services to businesses seeking expansion into the region.

Hong Kong’s Capital Market and Fundraising Potential

Jacqueline Jiang, Vice President of Global Issuer Services at HKEX, joined the meeting online from her Hong Kong office and outlined the city's dynamic IPO market, which saw 71 new listings in 2024, raising USD 11 billion. She underscored the role of the "Stock Connect" program in linking Hong Kong with the Shanghai and Shenzhen markets, facilitating cross-border investment. Companies considering a listing in Hong Kong can benefit from a transparent and efficient listing process, with a completion timeline of approximately six months. Hong Kong also offers diverse listing options, including primary, dual primary, and secondary listings, providing flexibility for international issuers.

Panel Discussion: "Mongolia-Hong Kong: Connecting Markets, Expanding Trade"

Moderated by BCM Chair Ts. Tumentsogt, a panel discussion was held on strengthening trade relations between Mongolia and Hong Kong.

On the panel were:

• B. Dulguun, Acting CEO, Mongolian Stock Exchange
• Randolph Koppa, Chair, Trade and Development Bank of Mongolia
• Jon Lyons, Chief Development Officer, Erdene Mongol LLC
• E. Mendtuvshin, Partner, White Crest Partners

B. Dulguun emphasized MSE’s efforts to modernize its technology in collaboration with major global exchanges and its plans to introduce derivatives trading. E. Mendtuvshin highlighted the strong leadership within Mongolian companies and their potential to attract global investment, while Randolph Koppa discussed TDB’s successful fundraising efforts in Hong Kong and the importance of aligning Mongolian businesses with international investment benchmarks. Jon Lyons addressed challenges within the mining sector, noting that Hong Kong has become increasingly receptive to smaller firms and urging Mongolian companies to emphasize their governance and competitive advantages.

During the Q&A session, participants explored investment opportunities available through Hong Kong’s major annual forums, such as the Asian Financial Forum held in January and the Belt and Road Summit held in September. The event also highlighted Hong Kong’s ability to provide direct business matchmaking services for foreign investors, enhancing networking opportunities for Mongolian enterprises.

MoU signing ceremony

On 14 March 2025, the Business Council of Mongolia (BCM) and the Mongolian Stock Exchange JSC (MSE) officially signed a Memorandum of Understanding (MoU), reinforcing collaboration between Mongolia’s business and capital markets sectors. The MoU was signed by BCM Chairman Ts. Tumentsogt and MSE Acting CEO B. Dulguun.

This partnership aims to strengthen cooperation in enhancing investment opportunities, supporting corporate governance, promoting financial literacy, and facilitating knowledge exchange to drive sustainable economic growth. Under this agreement, BCM and MSE will collaborate on market development, investor engagement, policy advocacy, and industry research.

BCM extends its appreciation to the Mongolian Stock Exchange GSC for their commitment to strengthening Mongolia’s financial ecosystem.

On 7 March 2025, the Business Council of Mongolia (BCM) and the National Committee for Energy Reform of Mongolia (NERC) held a signing ceremony for a Memorandum of Understanding (MoU) between the two organizations, with BCM Managing Director N. Suvd and NERC Executive Director L. Jambaa signing the document.

The MoU entails cooperation between BCM and NERC in improving the energy sector and investment environment, facilitating information exchange to mitigate sectoral risks, and promoting research collaboration.
BCM extends its appreciation to the National Committee for Energy Reform of Mongolia (NERC) for their commitment to advancing energy sector reform and fostering a sustainable and investment-friendly energy landscape in Mongolia.


Links:

1. Editor's notes
2. "Hong Kong – Your Prime Business Expansion Outpost" - presentation by Leonid Orlov, Principal Consultant at InvestHK