The Government of Mongolia is committed to further improving the business environment in Mongolia. According to the World Bank “Doing Business – 2014” report, Mongolia stands at #25 in the ranking of 189 economies on the ease of starting a business.
- As specified in the Law on Investment of Mongolia(2013), investors shall have the a right to transfer their following assets and revenues out of Mongolia without hinderance. This is on the condition that investors of having have properly fulfilled their tax payment obligations in the territory of Mongolia.
- The Government of Mongolia has consistently pursued policies that improve the business environment and increase the country’s competitiveness. In the World Bank’s “Doing business” 2014 report, Mongolia is rated at #76 and in “Best countries for business” by Forbes, Mongolia is rated #54.
- All foreign employees, apart from employees of embassies or organizations set up through special treaties, must be paid in Mongolian tugrik bank accounts in Mongolia, per the Law of Mongolia on Conducting Settlement in National Currency of July 9, 2009. Foreign workers are free to transfer their salaries overseas.
- The fast pace of Mongolia’s economic and business growth fuelled by such industries as natural resources, construction, agriculture in the recent years have been attracting significant attention from investors worldwide.
- As a WTO member, Mongolia may has the obligation to offer most favored nation (/MFN)/ treatment to imports from all trading partners, including non-WTO members.
DOWNLOAD INVESTMENT GUIDE TO MONGOLIA 2014