Over the past five years Mongolia’s food security situation has improved dramatically. Current estimates put the country’s overall food self-sufficiency – a measure of the extent to which the nation can meet domestic demand for food – at 50-60%, which is up considerably on previous years. The steadily improving food security situation since the mid-2000s, in particular, can be attributed in…
In February 2014 Mongolia’s Ministry of Culture, Sports and Tourism – now the Ministry of Environment, Green Development and Tourism (MEGDT) – introduced a new tourism slogan: “Mongolia, Nomadic by Nature”. The tourism tagline was commissioned by the government and developed by CNN’s Tourism Advertising Solutions and Knowledge Group in preparation for Mongolia’s turn as the official partner…
Lodging options for incoming visitors to Mongolia have increased dramatically over the past decade. While current, comprehensive data on the number and type of hotels is haphazard at best, according to recent estimates, Mongolia was home to at least 20 four- and fivestar properties as of the end of 2013, in addition to an equal number of two- and three-star hotels, although the capital, Ulaanbaatar,…
This chapter contains useful facts for visitors, a list of suggested hotels, as well as phone numbers for important contacts, including ministries, foreign missions and airlines. It also contains features pieces on Mongolian fine artist, G. Zanzabar, and the country’s unique tourism opportunities in its rural expanses.…
This chapter outlines the Mongolian legal environment, focusing on changes that include a new Investment Law, Petroleum Law and an amendment to the Minerals Law that is expected to boost FDI. It also contains a viewpoint from David Beckstead, Foreign Legal Consultant at Lehman, Lee & Xu.…
This chapter outlines the tax environment in Mongolia, focusing on the new investment law, account regulations, corporate income taxation and other subjects. It also contains a viewpoint from D. Onchinsuren, Country Managing Partner, Deloitte Onch LLC.…
The tourism industry has taken on an increasingly central role in Mongolia in recent years. In 2013 the country saw more than 415,000 incoming visitors and reported market turnover of $263m, which represented about 4% of GDP at the end of the year. These moves are in line with the government’s ambitious short-term and medium-term objectives, which include increasing international arrivals to 600,000…
Over the past decade or so the agriculture sector – one of Mongolia’s oldest industries – has remained integral to the country’s long-term development strategy. Until just a few years ago the majority of Mongolia’s population was involved in herding or farming in one way or another, and as recently as 2011 more than 30% of the country’s workforce was employed in agriculture. While this…
Holding up during difficult times and helping to take the edge off the commodity cycle, industry in Mongolia has contributed significantly to the economy. While resource prices have been dropping and related economic activity and foreign direct investment are not at expected levels, manufacturing and processing have been growing, with industrial production up almost 15% in 2013, providing a measure…
