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Wednesday, July 6, 2011

Mongolia Briefing is a magazine and daily news service about doing business in Mongolia. We cover topics relating to the Mongolian economy, the market in Mongolia, foreign direct investment and Mongolian law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates

Average Salary Rate Raised in Mongolia

By Elena Fehrbach

May 6 – Followed by the discussion in the Parliament, the decision has been made to increase the average salary rate from 140,400 MNT to 192,000 MNT (approximate equivalent to 130 USD). This increase marks 36.7 percent growth from the previous level.

The decision is still to be approved by the Prime Minister. The minimum monthly wage must be reviewed and increased every 2 years, in accordance with the Labor Law of Mongolia. Last time minimum monthly wage has been amended on 4 April 2011. This year’s review is already overdue, probably partially due to required approval of the actual increase rate. Different authorities in Mongolia were suggesting different amounts ranging from 154,440 MNT to 239,400 MNT. The compromise of 192,000 MNT has been reached at the end of discussion.

The Confederation of Mongolian Trade Unions was actively involved in this process aiming to increase the minimum monthly wage rate and subsidies for Mongolians.

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