Le Figaro – Executive Insights : Mongolia is emerging as a strategic partner for Europe

Mongolia is increasingly positioning itself as a strategic partner for Europe, at a time when European companies are seeking to diversify supply chains, secure critical resources, and invest in stable, long-term markets.

In Le Figaro’s Executive Insights section, Batchimeg Dashtseren, CEO of Step By Steppe shares her perspective on Mongolia’s growing economic and geopolitical relevance. The country’s recent announcement of a €1.6 billion investment by Orano in uranium processing has acted as a catalyst, highlighting Mongolia’s ambitions far beyond the mining sector and bringing international attention to a nation often overshadowed by its two powerful neighbors, China and Russia.

Mongolia offers tangible opportunities across several key sectors. In the textile industry, the country is the world’s second-largest exporter of cashmere and is actively moving up the value chain through its national White Gold program, which aims to expand local processing, create skilled jobs, and support responsible and traceable production aligned with ESG standards. For European fashion and luxury brands, Mongolia represents a competitive and ethical alternative sourcing destination.

Beyond textiles, Mongolia benefits from a highly educated and internationally oriented workforce, with near-universal literacy, a strong presence of university graduates, and widespread English proficiency. This human capital enables companies to manufacture finished products locally and export directly to Europe and the United States, reducing logistical complexity and time-to-market.

The country is also emerging as a promising player in renewable energy, hydrogen, engineering, and advanced technologies, supported by exceptional natural conditions and growing cooperation with European and French industrial leaders, including in the space and telecommunications sectors.

From an investment perspective, Mongolia offers a relatively stable and transparent fiscal environment, ongoing regulatory reforms, and a democratic and politically stable position in the heart of Asia. In an era of trade tensions and rising tariffs, it can also serve as a strategic platform for international exports.

Finally, successful market entry in Mongolia relies on a deep understanding of local dynamics, where trust, reputation, and strong partnerships are essential in a closely connected business ecosystem.

Read the full article in Le Figaro: https://www.lefigaro.fr/economie/la-mongolie-nouvel-eldorado-du-cachemire-et-de-l-energie-pour-les-entreprises-francaises-20251219