Source: Zuunii Medee, Ardiin Erkh                         Date: 1 September, 2010

The Mongolian Stock Exchange (MSE) celebrated on August 27 the 15th anniversary of the country’s first bond sales. Executive Director R.Sodkhuu congratulated all individuals and institutions that have participated in and contributed to the growth of the capital market and recalled the early days of the transition from a planned to a market economy.  There were only two brokers in the stock exchange then, while today Mongolia has busy and thriving primary and secondary markets. Things are moving fast, he said, as shown by the fact that the capital market, valued at MNT88 billions in 2008, is now worth MNT944 billion.

Speaking at the same ceremony, Mr. S.Davaasambuu, an advisor at MSE, said 15 years ago most Mongolians considered a share certificate as just a piece of paper not worth a second look. Things have certainly changed since then, but many more public companies, with shares held by the people, have to come up to provide the platform for the country’s economic diversity. The capital markets will be the catalyst in this, Mr. Davaasambuu said, if the Prime Minister’s plans are to be fulfilled.