L.Bold: The economy is taking off. Therefore, there is a lot of room to expand. Diversification and all these issues are important. But today we are talking about turning those big projects into reality. This is the stage we have no time for other things. This is something we have to deal with and do.
CNN: Another issue is IPO share of major mine which has been delayed. There have been issues, battles between companies, who will take part in these mines. Is that a growing pain for Mongolia? And you are going to sort this? Is this something, you think, is going to worry investors. You have not got sorted yet?
L.Bold: Of course, investors are always nervous everywhere, especially at this time of economic turmoil.Mongolia is an open, democratic country. We have so many advantages. Nobody knows this. However, everybody who comes here realizes that is the place you can to invest in and can be sure and rely on the legal framework and everything. Therefore, we have no worries.
L.Bold: Mongolia is transparent and the most open country.
CNN: Somehow, Central Asian countries would never be called transparence and democracy. But you say Mongolia is different.
L.Bold: Yes, Mongolia is totally different. To some degree, we are at the level of East European country. You can consider Mongolia like an East European country. We are also an Asian country. It is our advantage. It was disadvantage, but that was in 20th century. Now it is advantage because everything we do is bringing growth.
CNN: I mean beinggiven where you are, you are sitting on the top of China. Vast majority of your trade is made with China. Are you trying to diversify from that. You are relying much on China.
L.Bold: Well the Chinese growth has gained a chain in the world. Everythinggoes around China. In the past, we would have been worried. But today, it is a very important opportunity for us. We can be sure that if China will develop and grow, Mongolia will grow. So, that means every dollar spent in Mongolia is spent well. Therefore, we don’t worry about it.
CNN: World Bank said that many basic services for Mongolians are not there yet. And you are getting the wealth, but it is not going to everybody.You say this is value thatis going to change.
L.Bold:if we will value only few deposits, few mines, these will worth trillions dollars. The population is only three million people. If we’ll divide the value, every Mongolian is a millionaire. Therefore, poverty is the first issue we will tackle and solve. Then, it will be a different country. I think, it will take less than ten years.
CNN: Then every Mongolian will be a millionaire, you say.
L.Bold:Yes. This is our dream.