AmCham Mongolia featured in The Diplomat article
On January 20, the 47th President of the United States, Donald Trump started his second term in the White House. As an incoming president, Trump’s policies toward Mongolia in particular, and the greater Asia-Pacific region in general, will likely be dictated by business connections and personal ties. During the Biden administration, Mongolia-U.S. relations have expanded; however, there are more opportunities for American businesses to enter Mongolia’s market.
U.S.-Mongolia relations from 2021 to 2025
When U.S. President Joe Biden took office in 2021, Mongolia’s investment landscape presented a mix of opportunities and challenges for foreign businesses. To American investors and businesses, Mongolia was viewed as a profitable destination, but some key barriers persisted.
In promoting U.S. businesses in Mongolia, the American Chamber of Commerce in Mongolia (AmCham) has consistently championed Mongolia as an investment destination, highlighting its strategic potential and fostering bilateral trade and economic cooperation.
Doorknock Mission
Since 2014, AmCham has been hosting the U.S. Trade Doorknock Mission to encourage business leaders from Mongolia to engage with a range of high-level policymakers in Washington, D.C. These policy dialogues help support Mongolia-U.S. joint advocacy for a private sector-driven, free market economy to attract investment. Through Doorknock, AmCham has facilitated connections with key financial institutions like the U.S.
Strategic partners
As strategic partners, Mongolia and the United States have expanded major projects such as the Millennium Challenge Corporation (MCC) Compact. The MCC’s $462 million pledge is designed to address the critical water supply challenges in Ulaanbaatar, the Mongolian capital. As of September 2024, $305.5 million (87.3 percent of the grant) has been committed to projects.
As a joint endeavor, the Mongolian government has pledged up to $111.8 million to support these investments.
Major investments and projects like MCC highlight the U.S. commitment to addressing Mongolia’s pressing social and economic challenges. As AmCham put it, “The MCC Compact not only improves essential infrastructure but also strengthens the broader U.S.-Mongolia partnership.” On January 14, 2024, the DFC approved a $150 million loan to the Mongolian Mortgage Corporation (MIK).
Read the full article here: https://thediplomat.com/2025/01/fostering-stronger-business-ties-between-mongolia-and-the-united-states/
By Bolor Lkhaajav, Egiimaa Tsolmonbaatar, and Adiya Oyungerel