The Social Welfare Law (SWL) passed by Mongolia’s parliament in January 2012 will bring much-needed reform to a system of pay-as-you-go contributions that has proved unsustainable and hampered growth in private insurance provision. Ending universal cash handouts and targeting welfare spending to the most vulnerable, the new Ministry of Human...
The number of brokers and dealers more than doubled between 2009 and 2012, yet trading modernisation looks set to catalyse consolidation. In 2011 the top 10 of the 76 brokers performed daily trades amounting to more than 91% of the market, and the financial viability of most brokerages remains doubtful. As the World Bank and IMF noted in a June 2012...
Although the first life insurer licence was awarded to National Life Daatgal in 2008 and premium income has more than doubled every year since, the segment remains minor, accounting for a mere $244,000 in premiums in the first half of 2012, out of the industry total of $29.4m. Established by Mongolian Investment Holding Group, the underwriter has prompted others to announce...
THE COMPANY: The name APU comes from Arkhi Pivo Undaa (vodka, beer, drinks). Established in 1924, three years after Mongolia’s communist revolution, APU is the country’s largest beverage producer, and its first national brand. The company was partially privatised in 1992, with 51% of its shares being...
Vast and sparsely populated, landlocked Mongolia is situated between giant neighbours to its north and south: Russia and China. With a population of 2.8m people inhabiting its wind-swept, grassy steppes and vast expanses of desert, Mongolia is the world’s least densely populated country. The nation continues to emerge as a key centre for mining...
One of the most controversial topics in Mongolia during 2012 was the introduction in May 2012 of a new foreign investment law. Aimed at giving the government and parliament more control over foreign investment activity in the country, the law also led some foreign investors to suggest the investment climate in Mongolia had soured. In January 2013...
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