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Mongolia Signs MoU with BlackRock FMA www.montsame.mn
The Government of Mongolia has signed a Memorandum of Understanding with BlackRock Financial Markets Advisory (BlackRock FMA), the financial markets advisory unit of the New York-headquartered BlackRock Financial Management, Inc.
The Memorandum was signed by Enkhbayar Battumur, the Minister of Mongolia and Chief of the Cabinet Secretariat, and Matthias Wyrwoll, Managing Director in charge of International Sovereign Wealth Fund Advisory Services at BlackRock FMA.
Within the framework of the Government's "Chuluulye" (Liberate) initiative and this Memorandum of Understanding, the parties outlined a general framework for exchanging information on consolidating a portion of state-owned enterprises' shares through investment instruments and offering them on domestic and international capital markets.
BlackRock FMA is an industry leader in investment and asset management, risk management, and technology, and advises government institutions worldwide on capital markets, supporting the national development and investment funds of countries around the globe.
Preparations for the talks are being carried out by a Working Group established by a decision of the Cabinet meeting on June 10, 2026. Led by Minister Enkhbayar, the Working Group includes representatives of the Ministry of Finance, the Government Agency for Policy Coordination on State Property, and Chinggis Khaan Sovereign Wealth Fund Holding LLC.
To carry out this comprehensive reform in line with international best practice, the Working Group sent proposals for cooperation to 12 of the world's leading asset management firms, and BlackRock FMA has expressed interest in taking part. Following mutual agreement between the Government and BlackRock FMA to explore possible areas of cooperation, the Memorandum was signed to exchange knowledge and experience and to establish a framework for further cooperation.
Successfully carrying out this initiative would not only improve the governance and operational efficiency of state-owned enterprises but would also accelerate the development of the domestic capital market and help build a new, sustainable channel for long-term foreign investment directed toward Mongolia.
Published Date:2026-09-10
