Crafting a positive image of the nation for international business

By Zulbayar.B

(published on 13th Aug 2013, The UB Post, a national English newspaper in Mongolia) 

I am currently reading a book titled, From Third World to First: Singapore History-1965- 2000 by Lee Kuan Yew, the first prime minister and founding father of modern Singapore. Some say that he is controversial figure and suspect that he purged his political and the party’s opponents, along his way to building the world’s fourth highest per capita income nation of  Singapore which was once a former British colonial trading post in South East Asia. Having said that, in my view, Yew”s book not only teaches how to govern and develop a tiny state with multiple nationalities and big neighbors, how to deal with international investors, it also teaches how to skillfully create and manage a nation’s image on the international stage. Mongolia must project the most favorable image of itself as soon as possible to the world. This is critical to Mongolia’s future in the coming days and months ahead. It is time for Mongolia to “strut its stuff” on the world stage and announce that it is here to stay, and that it has much to offer to anyone who will take the time to have a good look.  Mongolia is open for business!

Mongolia as a country admittedly currently suffers from a much less than positive image in the world and this can readily be seen in international business media. No doubt you may have recently seen a number of very negative news reports about Mongolia’s deteriorating financial outlook by some credit rating agencies, the drop in FDI, depreciating national currency, and travel bans on expats in a few international newspapers and on some websites. Even though, behind any story there are always fact checkers, editors, co-editors along with reporters in the international media, these sporadic negative reports do not represent the true nature of what is happening in Mongolia, or present an accurate or full picture to the world.

Mongolia is a nation with great potential and it is capable of playing an important and vital role on regional and international stages; economically, socially and politically. The recent actions, taken by the government and the Mongolian parliament, such as mega deals with China, improving economic relations with Russia and China, Mongolia’s currency swap agreement with China , and the recently announced state assets’ privatization, in addition to the improved investment environment, all represent a historic, positive shift in momentum for Mongolians and foreign investors who have already placed their bets on Mongolia. 

As I have heard and said many times, Mongolia’s long term prospects look stunning. But the world will not come to Mongolia unless the world is dramatically made aware of what Mongolia has to offer it. Mongolia has to loudly “toot its own horn”!

In short, Mongolians need a more structured approach to promoting their country, just as the Singaporeans did in the 1970s. Lee Kuan Yew’s decisions to create a green Singapore, a zero-tolerance country on corruption, one of the global financial centers, and the home of multinational corporations were not easily implemented, but he succeeded by dramatically reshaping the country’s image on the international scene. He was right. Having great minds and believing in them is not enough to achieve excellent results without creating a positive image for the nation. Accordingly, the recently approved pro-investment policy of Mongolia needs more promotion and support by Mongolia’s own citizens, in addition to strong, meaningful advertising on influential international business media.

Sometimes when I look at social media it seems that many Mongolians, mostly young, educated ones who studied natural and social sciences abroad and mastered several languages, tend to moan about the country’s current economic problems such as the exchange rate, trade statistics and business regulations. And yes, it is true that some Mongolian commentators and investment analysts have a professional duty to report whatever happens in Mongolia, bad or good, to their clients and audiences with their own in-depth analysis if it is required.

However, I believe that if foreign audiences and international investors did not have any interest in Mongolia’s development and progress, then they would not constantly be asking to be informed about the country and be so eager to know more about Mongolia.Therefore, all I am asking is that these professionals be fair and unbiased about what they report, and whenever possible report positive things about Mongolia to the world.  

Nothing great was ever achieved without enthusiasm.  So, instead of excessively reporting about bad news, as torch bearers for Mongolia’s future, we should be reporting and disseminating whatever positive news and events we observe and are aware of in Mongolia to international audiences through all available means of media. By doing this, we can definitely accelerate the creation of a future we would all like to live in.

Obviously, what I discussed above is easier said than done. But we can do it! Furthermore, creating a positive image of Mongolia for the world to see is not just the government’s job, it is the job of every Mongolian citizen who benefits from the success of the nation.Hence, finding ways to project an attractive and positive image of Mongolia for international business audiences is the number one task for all. So, Mongolia may once again become the darling of international investors.

Zulbayar Badral works for Lehman Bush LLC, a consulting firm which provides business consulting, market intelligence and corporate services. Lehman Bush LLC has affiliate offices in Beijing, Shanghai, Hong Kong and Houston, Texas, USA. For more information, please visit www.lehmanbush.mn. You can reach Mr. Zulbayar through Zbadral@lehmanbush.com