German engineering federation Verband Deutscher Maschinen und Anlagenbau (VDMA) in cooperation with VF Messe GmbH and with the support of the Mongolian and German governments will hold the inaugural Future Mongolia fair in Ulaanbaatar from May 16-19, 2012.
During the 4-day event companies from the investment goods industry, including manufacturers of mining equipment along with construction equipment and building material machinery, will be presenting their latest products and services.
With economic growth of 6.1% last year, Mongolia is regarded as one of the up-and-coming developing countries. Prior to the financial crisis, from 2004 to 2008, the average figure was even above 9%. Last year the GDP generated by the population of just around 3.1 million people in a country of almost 1.6 million square metres, which ranks 10th largest in the world in terms of surface area, was US$11 billion.
The highland region mainly consisting of desert is rich in mineral deposits such as coal, copper, crude oil, gold, diamonds and silver. Some time ago, in the south of the Gobi desert, coal and copper deposits were discovered, which are some of the largest in the world. Today mining is already the country’s most important source of revenue, while agriculture, and in this area in particular, cattle breeding, also continues to play a key role.
Almost 1 million people or nearly one-third of the country’s total population, live in the capital Ulaanbaatar. According to Klaus Stöckmann, who is responsible for the fair at the VDMA, “Future Mongolia is aimed at supporting the country in its rapid development.” The fair will be held at Buyant Ukhaa sport complex in the immediate vicinity of the capital’s airport.
The country is in urgent need of new roads, housing, sewer systems and railway lines. Only around 5000 of the country’s road network totalling 51,000km have been surfaced so far and the railway network is just 1900km-long. There is also a great deal to be done in the areas of agriculture, energy and water supply as well as in the sector generating the most important source of revenue for Mongolia, mining. According to Klaus Stöckmann, Future Mongolia is directed at international suppliers, who are offering the country modern and sustainable technical solutions aimed at handling its future tasks.