All Countries and All Sectors

Featuring a tax and accounting interview with OBG partner Peter Markey of Ernst & Young, this chapter offers guidance on the local tax system to those interested in opening a firm or investing in Mongolia.

Visitor arrivals have jumped substantially in recent years, topping 475,000 in 2012, up 3.4% from the previous year and from less than 150,000 in 2000. As of mid-2013 the government has been working with the private sector to overhaul the country’s tourism regulatory regime and development strategy. In March 2013 the minister of culture, sports and tourism announced that the government had...

In 2012 the ICT sector as a whole posted total revenues of MNT650bn ($390m), up more than 17% from the previous years, according to the Information Technology, Post and Telecoms Authority. In the telecoms segment, the country’s four mobile operators are making plans for a considerable amount of capital expenditure in order to meet the needs of Mongolia’s rural population and to develop new higher...

Agriculture, which accounts for 16% of GDP and 40% of employment, benefitted from good climatic conditions in the first half of 2013, allowing the industry to grow 20.6% year-on-year. The government has concentrated its efforts on developing the sector in a sustainable fashion with a series of programmes such as the Mongolian National Livestock Programme and the State Policy on Food and...

Mongolia faces significant challenges in manufacturing, as neighbouring China has a prominent edge in production of many goods. The northern country can also be an expensive country for manufacturers, with high transportation and labour costs. In May 2013, the minimum wage was raised from $87.75 per month to $120 per month. Government investment in textiles manufacturing in 2012 saw $68.8m...

Although the construction sector faces a number of challenges, such as the lack of a well-trained local workforce and low levels of domestic materials production, the sector is expected to benefit from increasing government investment in housing and infrastructure. Mongolia has a severe lack of affordable housing, and addressing this shortage is expected to be a major driver of construction...