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Investing in Mongolia: A Comprehensive Guide

Mongolia has been actively promoting foreign direct investment (FDI) since adopting a market economic system. In this article, we will explore the country’s investment environment, trade policies and practices, international indexes, investment laws and regulations, and investment types.

Investment Environment

Mongolia has been working to create a favorable business environment for investors. Some key points to consider include:

  • Market Economic System: Mongolia has adopted a market economic system, which has led to an increase in foreign direct investment.
  • Government Support: The government has implemented policies to stabilize the legal environment and provide favorable conditions for investors.
  • Comprehensive FDI Strategy: A comprehensive FDI strategy is necessary to attract more investments.

Trade Policies and Practices

Mongolia’s trade policies and practices have been reviewed by international organizations such as the World Trade Organization (WTO). Some key points include:

  • WTO Review: In 2014, the WTO conducted a review of Mongolia’s trade policies and practices, highlighting the importance of establishing a comprehensive FDI strategy.
  • Economic Partnership Agreement (EPA): Mongolia has completed negotiations with Japan for an Economic Partnership Agreement (EPA), which will increase market access and competitiveness.

International Indexes

Mongolia’s economic performance is reflected in various international indexes. Some key points include:

  • Doing Business Report: According to the 2020 Doing Business Report by the World Bank, Mongolia ranked 81st out of 190 economies.
  • Index of Economic Freedom: According to the Index of Economic Freedom 2019 by the Heritage Foundation, Mongolia scored 55.9% out of 100, with areas for improvement in property rights and government integrity.

Investment Laws and Regulations

Mongolia has passed a new law on investment (2013), which provides an open investment environment. Some key features of the law include:

  • No Approval Required: No approval is required to enter the market or buy a local company.
  • Non-Discrimination: There is no discrimination between foreign and local investors.
  • Fast Registration Process: The registration process is fast and efficient.
  • Stability Guarantees: Stability guarantees, including tax stabilization certificates, are provided to investors.
  • Flexibility and Friendly Conditions: Flexibility and friendly conditions for investors are available.

Investment Types

Mongolia offers a range of investment types, including:

  • Joint Ventures: Joint ventures, consortiums, mergers and acquisitions, concessions (PPP), product sharing, management contracts, bonds, securities, financial leasing, franchising, and other types of investments.

Concession Law

The Concession Law (2010) regulates matters related to the organization of tenders for granting investors concessions over state and local property. The purpose of the law is to promote public-private partnerships (PPPs), attract investment projects prioritized by the government, and increase private sector participation in the economy.

Overall, Mongolia appears to be actively promoting foreign direct investment through various policies and laws, aiming to create a favorable business environment and increase competitiveness.