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.
As one would expect of Mongolia, six of the list’s top 20 businesses are mining companies while another six are involved in energy; or petroleum, more specifically. A few are involved in oil and gas exploration – a different part of the energy life cycle. The remaining companies, MCS for example, provide internet or strategic solutions, but also are likely supported by energy firms’ demand for operational services.
Although Erdenet leads the list for revenue, MCS has consistently led the list for the past five years for employment, investment, taxes paid and its contribution to social responsibility, according to the rankings compiled by the Mongolian government and chamber of commerce.
The top 20 companies can be found here: