FAQs

Archives: FAQs

Q: Where are most of the banks in Ulaanbaatar located?

March 25, 2016
A: One block to the left of Sukhbaatar Square lies the heart of the Mongolian banking system, where the majority of the country’s largest financial enterprises are headquartered. Here the central offices of Golomt Bank, Trade and Development Bank, Capital Bank, Ulaanbaatar Bank, Savings Bank and State Bank surround the imposing Central Bank of Mongolia. Buried amongst the financial institutions are an assortment of foreign embassies, including those of France, Germany, and Turkey

Q: Is there a university in Ulaanbaatar?

March 25, 2016
A: The National University of Mongolia, established in 1942, is the oldest in the country. Originally the university was a training ground for the communist party’s executive class. Now offering a variety of competitive programs, approximately a third of university educated Mongolians graduate from the institution, with an estimated 11,000 undergraduates, 2000 graduate students, 800 faculty members, and 400 academic support staff registered at any one time.

Q: What is one of the favorite places for people to gather in Ulaanbaatar?

March 25, 2016
A: Located directly in the center of the Central Business District of Ulaanbaatar is Millies Café. Established in 1998 by café founder / owner Millie Stoda, Millie’s Café has become an institution in Ulaanbaatar with expats and locals. Lunchtime is always crowded, and sometimes if guests have an empty chair at their table it is often filled with another guest. Ambassadors, Ministers of the Mongolian Parliament, miners and businessmen all mingle and network over excellent coffee and good service. Located directly on the west side of the Choijin Lama Museum, in back of the Blue Sky Tower, Millie’s has the ambiance

Q: Which district in Ulaanbaatar is the preeminent one?

March 25, 2016
A: If one district may be considered representative of modern Ulaanbaatar, it is without a doubt Sukhbaatar District. Despite being just 218 hectares in size, the area acts as the epicenter of both political and economic activity within the city.

Q: How are the wholesale and retail industries doing in Mongolia?

March 25, 2016
A: In response to these increasing levels of demand, the wholesale and retail industry within Mongolia has experienced solid growth over recent years. The number of establishments operating nationally within the retail industry increased by over 33% over two years, from 27,113 in 2008 to 36,297 in 2010, whilst the gross domestic product generated by these establishments more than doubled between 2008 and 2011, from 472,226 to 1.051,804.

Q: Who are some of the people that have entered the housing market in Ulaanbaatar?

March 25, 2016
A: Expatriates and temporary visitors to Ulaanbaatar make up a large section of the city’s rental-market. Many just come for the summer, as consultants and temporary staff to both Mongolian and international operations, designed to give advice and implement western best practice. Most are young, with few commitments to tie themselves down in their countries of residence. A slightly smaller, but equally important grouping is the growing class of executives, upper management and diplomats based permanently in the city. Demographically characterized as older males often tied down by family commitments, substantially more incentives are usually offered by firms to encourage them
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