As may be expected in a fast-growing emerging market, Mongolia’s legal framework – like many other aspects of Mongolian society – is in a constant state of flux. At first blush, since foreign investors tend to crave legal certainty, this would appear to be a weakness of the country’s legal system. However, investors should take comfort in the...
ETIQUETTE: A handshake usually accompanies a first introduction in a business setting and is used both as a greeting and farewell. Although people in the urban centres are less strict about local customs when greeting, it is customary and seen as a sign of respect to offer things (business card, pen, etc) with your left hand under your...
The tourist season in Mongolia has always run from April through October. The country’s harsh winter climate is a big obstacle for tourism to be able to operate at a profit throughout the year, making it a seasonal sector. The challenge has therefore been to attract tourists in the months of November through March. It is not easy to lure...
Accounting for some 91% of employment, 57% of GDP and 20% of exports by value in 2012, according to Bank Indonesia (BI) statistics, micro, small and medium-sized enterprises (MSMEs) form the backbone of Indonesia’s economy. Yet the predominantly informal nature of such companies has constrained their access to funding and scope for growth....
People say that all is fair in love and war, and based on recent examples, it would appear that this true of business in Indonesia as well. There are currently criminal proceedings against at least three big corporations in Indonesia, including Chevron Pacific Indonesia – relating to an allegation of corruption in the firm’s bioremediation...
Banking remains a highly profitable sector in Indonesia despite being limited in its reach. Leading banks’ average profits were the highest amongst major economies in 2012, according to Bloomberg data, a remarkable feat in an era of falling bank profits globally. Credit and savings remain marginal, however, with loans accounting for 32.85% of...
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