BlackRock Expresses Interest in Supporting the Improvement of Corporate Governance at Mongolia’s State-Owned Enterprises.

BlackRock Expresses Interest in Supporting the Improvement of Corporate Governance at Mongolia’s State-Owned Enterprises.

Representatives of BlackRock expressed their interest in working with the Mongolian Government to gradually enhance the governance, management, and asset management of Mongolia’s state-owned enterprises, while providing professional expertise and support.

During a meeting with the State Secretary of the Ministry of Industry and Mineral Resources, BlackRock representatives highlighted the potential to develop the institution into an internationally benchmarked organization, similar to Singapore’s Temasek, over the long term.

The Government of Mongolia is preparing to transform Chinggis Khaan Wealth Fund United LLC into a national investment and asset management company. As part of these efforts, preparations are underway to consolidate a certain portion of the shares of state-owned enterprises into the Fund and have them managed by an international investment management company.