This chapter outlines the Mongolian legal environment, focusing on changes that include a new Investment Law, Petroleum Law and an amendment to the Minerals Law that is expected to boost FDI. It also contains a viewpoint from David Beckstead, Foreign Legal Consultant at Lehman, Lee & Xu.
This chapter outlines the tax environment in Mongolia, focusing on the new investment law, account regulations, corporate income taxation and other subjects. It also contains a viewpoint from D. Onchinsuren, Country Managing Partner, Deloitte Onch LLC.
The tourism industry has taken on an increasingly central role in Mongolia in recent years. In 2013 the country saw more than 415,000 incoming visitors and reported market turnover of $263m, which represented about 4% of GDP at the end of the year. These moves are in line with the government’s ambitious short-term and medium-term objectives, which include increasing international arrivals to...
Over the past decade or so the agriculture sector – one of Mongolia’s oldest industries – has remained integral to the country’s long-term development strategy. Until just a few years ago the majority of Mongolia’s population was involved in herding or farming in one way or another, and as recently as 2011 more than 30% of the country’s workforce was employed in agriculture. While this figure...
Holding up during difficult times and helping to take the edge off the commodity cycle, industry in Mongolia has contributed significantly to the economy. While resource prices have been dropping and related economic activity and foreign direct investment are not at expected levels, manufacturing and processing have been growing, with industrial production up almost 15% in 2013, providing a...
Since it was liberalised in the early 1990s, Mongolia’s telecommunications sector has grown rapidly. As of the first half of 2014 the four major mobile operators reported more than 4.3m registered users in total. This figure is considerably higher than the population, which means many residents own more than one SIM card. Increases in mobile penetration have facilitated rapid technological...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×