for your investment decisions in Mongolia.
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INVEST IN MONGOLIA
Why Mongolia?
Mongolia is a resource-rich developing country with an abundance of untapped natural resources. Over 8,000 known occurrences of 80 types of mineral deposits have been identified across 1,170 registered deposits. This includes vast reserves of gold, copper, coal, uranium, iron ore, and oil, making Mongolia one of the world’s last frontiers for mining.
INVEST IN MONGOLIA
About Mongolia
Mongolia is located in the north-eastern part of Asia and borders Russia and China. The country has a vast territory, nomadic culture, and rich mineral resources. Having adopted the democratic model, the country became an exemplary case in the region. Demographically, the majority of the population is made up of a rapidly growing young generation. Mongolia’s GDP per capita has tripled over the last 30 years, rapidly assimilating new advanced technologies, broadly displaying transparent governance, and being very future-oriented.
INVEST IN MONGOLIA
COUNTRY RISK
Mongolia offers significant investment opportunities, particularly in the mining sector, due to its vast untapped mineral wealth and strategic location next to China, the world’s largest commodity consumer. However, investors must carefully evaluate the country’s risk landscape to navigate potential challenges effectively.
INVEST IN MONGOLIA
GOVERNANCE
The executive branch of the state is the Government of Mongolia. The government is usually headed by the leader of the party with the majority of seats in the parliamentary elections, or by the Prime Minister. Following a 2019 constitutional amendment, the government was given more political power, giving the Prime Minister the ability to form its cabinet and submit to the parliament for approval.
Companies list
INDUSTRIES
Industry Background
Mongolia’s mining industry is the backbone of its economy, contributing significantly to GDP, government revenues, and employment. Rich in mineral resources, the country is a major producer of copper, gold, coal, and other minerals. Its strategic geopolitical location next to one of the world’s largest commodity markets, China, further enhances its economic potential.
INDUSTRIES
Key commodities
Mongolia ranks 23rd globally in terms of coal reserves and 17th in coal mining. The largest consumer of this vast coal resource is China. In 2023, Mongolia alone supplied 50% of China’s coking coal demand, becoming one of the leading competitors in China’s market.
DOING BUSINESS
VISITING MONGOLIA
All visitors to Mongolia require a visa unless they come from a visa-exempt country. Depending on the purpose of visit, 62 categories of visa classified under nine types are issued, according to the Mongolia Immigration Office.
A foreign national can apply for a visa at the invitation of a Mongolian citizen or business entity.
Organizations, business entities, and citizens inviting foreign nationals must apply for the appropriate category of “visa permit” to the Office of Foreign Citizens and Naturalization in advance and obtain a visa for entry from the Diplomatic Mission and Consulate of Mongolia overseas.
A foreign national can apply for a visa at the invitation of a Mongolian citizen or business entity.
Organizations, business entities, and citizens inviting foreign nationals must apply for the appropriate category of “visa permit” to the Office of Foreign Citizens and Naturalization in advance and obtain a visa for entry from the Diplomatic Mission and Consulate of Mongolia overseas.
DOING BUSINESS
HOW TO INVEST IN MONGOLIA
The Mongolian government has initiatives in place to welcome foreign investment and in general, Mongolian law prohibits any discrimination against foreign investors. This is in line with the Mongolian government’s efforts to support economic growth by ratifying a new investment law effective in 2013.
DOING BUSINESS
SETTING UP A BUSINESS IN MONGOLIA
Investors are provided with the same conditions when setting up a new business within the territory of Mongolia.
DOING BUSINESS
OPERATING A BUSINESS IN MONGOLIA
For stays in Mongolia of more than 30 days, or for the purposes of obtaining double entry or multiple-entry visas for work or study, an official approval from the Immigration Agency of Mongolia is required. A representative in Mongolia may make the request for approval on your behalf. Visas are valid for entry within 90 days upon the date of issue and the duration of stay commences on the date of arrival into Mongolia.