Apr. 6 – The Mongolian National Chamber of Commerce and the Mongolian Government recently released the 10th annual list of the top 100 businesses in Mongolia. Like in previous years, this year’s list is dominated by private enterprises.
During 2010, workers for private enterprises accounted for 88 percent of all those currently employed. Private businesses also contribute to around 80 percent of Mongolia’s GDP. Moreover, 2010 saw the first IPO by a Mongolian company. Continue reading
Apr. 1 – As was predicted by Chris Devonshire-Ellis in his recent article Putting the Wolf to Work – Reform in the Mongolian Economy, the government of Mongolia has stated today that every citizen is indeed an owner of the state-owned Erdenes TT deposit, and that shares in this will be distributed to every citizen. The format will be as follows:
- Each Mongolian (2,796,341 citizens) will receive 536 shares, 1.5 billion shares will be divided
- Strategic deposits will be put into production in stages and profits from natural resources will be distributed in fair, equal and inclusive manner to every citizen Continue reading