Opening the three-day event, the Minister of Mining and Heavy Industry Sumiyabazar Dolgorsuren assured that the Government of Mongolia is committed to the longterm sustainable development of the mining sector, maintain economic growth, increase competitiveness and to become a manufacturer rather than a raw material supplier. “The mining sector plays an important role in the country's economy, singlehandedly forming 90 percent of exports, 74 percent of industrial products, 22 percent of GDP and 64 percent of foreign investments in 2017,” informed the minister and remarked that Mongolia Sustainable Development Vision 2030 states to intensify geological survey and exploration in mineral deposits, commence new constructions of major mining projects and develop infrastructure.
“The restoration in mining sectors intensified supplying businesses as several mining equipment suppliers have participated in the event to demonstrate their cutting-edge technology. For instance, the distributor of Transwest and Komatsu brands have introduced their brand new bulldozer at the event. This is one of the significance of the event as it help manufacturers to learn advanced technology without having to study the practices of other countries and receive wide range of information in one place,” emphasized Battulga Tumurdash, CEO of Minex Mongolia LLC, the organizer of the event.
“Although commodity prices are flourishing in the global market after plunging for 5-6 years straight, the growth remains sluggish due to several internal factors. This includes the instability of policy and lack of infrastructure, which are limiting the investment in the sector,” noted Purevsukh Purevsuren, Sales Manager of Mekhlopat LLC.
Marko Dimitrijevic General Manager of B&R Enclosures Co.,Ltd
Thanks to the fast growth in Mongolia's mining sector, we plan on expanding operations in not only Oyu Tolgoi, but other directions. We are interested in expanding scope in Mongolia. We have operated here for around half a year. Sales are good so far. Our customers are satisfied with the product quality. Demand is surging not only in the mining, but in other sectors.
Enkhdelger Enkhbold Director of RUN Division of Wagner Asia Equipment LLC
Statistics show that mining equipment market has doubled in 2017. Our sales also exceeded expectation by 20 percent. Since the economy is performing better than the early 2017; thus, we planned our target positively. However, the number of new customers are still low. We serve around 800-900 customers annually. The number fell to 500-600 in 2015 and 2016 respectively. It only grew by 10 percent last year