Mongolia
Capital: Ulaanbaatar HDI: 0.727 (90th)
Language: Mongolian
GDP (PPP): $36.6 billion
Currency: Togrog
Population: 3,081,677
Mongolia is a landlocked sovereign state in East Asia. Its area is roughly equivalent with the historical territory of Outer Mongolia, and that term is sometimes used to refer to the current state. It is bordered by China to the south and Russia to the north. While it does not share a border with Kazakhstan, Mongolia is separated from Kazakhstan by only 36.76 kilometres (22.84 mi).
At 1,564,116 square kilometres (603,909 sq mi), Mongolia is the 19th largest and the most sparsely populated fully sovereign country in the world, with a population of around 3 million people. It is also the world’s second-largest landlocked country. The country contains very little arable land, as much of its area is covered by grassy steppe, with mountains to the north and west and the Gobi Desert to the south. Ulaanbaatar, the capital and largest city, is home to about 45% of the country’s population.
Approximately 30% of the population is nomadic or semi-nomadic; horse culture is still integral. The majority of its population are Buddhists. The non-religious population is the second largest group. Islam is the dominant religion among ethnic Kazakhs. The majority of the state’s citizens are of Mongol ethnicity, although Kazakhs, Tuvans, and other minorities also live in the country, especially in the west. Mongolia joined the World Trade Organization in 1997 and seeks to expand its participation in regional economic and trade groups.
RESEARCH
Economic Overview
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Mongolia Overview – World Bank
http://www.worldbank.org/en/country/mongolia/overview
Economic overview from the World Bank
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Mongolia: Economy | Asian Development Bank
http://www.adb.org/countries/mongolia/economy
Economic growth in Mongolia decelerated sharply in 2015, but so did inflation, and the current account deficit narrowed. Growth will stagnate in 2016 under lower mining output and necessarily tight macroeconomic policies.
Industry Trends & Business Climate
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MONGOLIA INVESTMENT CLIMATE STATEMENT 2016
http://photos.state.gov/libraries/mongolia/5/business/2016-ICS-English.pdf
Since December 2014, Prime Minister Saikhanbileg has committed his coalition government to restoring Mongolia’s battered economy. He has made renewed FDI and economic diversification the center of these efforts.
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2015 Investment Climate Statement – Mongolia
http://www.state.gov/e/eb/rls/othr/ics/2015/241667.htm
Some 80 percent of FDI into Mongolia annually targets the mining sector and falling global coal and copper prices have dampened investor interest. Mongolia’s elected leaders readily accept, however, that government missteps (confiscating selected mining licenses, levying a mining-specific windfall profits tax, assuming veto rights over mining company business decisions, etc.) collectively amounted to a far greater disincentive to investment
Establishing a Presence
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Doing Business in Mongolia – World Bank Group
http://www.doingbusiness.org/data/exploreeconomies/mongolia
This page summarizes Doing Business 2016 data for Mongolia.
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Doing Business in Mongolia – World Bank Group
http://www.doingbusiness.org/data/exploreeconomies/mongolia
This page summarizes Doing Business 2016 data for Mongolia.
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Starting a Business in Mongolia
http://www.doingbusiness.org/data/exploreeconomies/mongolia/starting-a-business
This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Mongolia.
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Starting a Business in Mongolia
http://www.doingbusiness.org/data/exploreeconomies/mongolia/starting-a-business
This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Mongolia.
Taxes
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Mongolia Sales Tax Rate | VAT Forecast 2016-2020
http://www.tradingeconomics.com/mongolia/sales-tax-rate/forecast
In the long-term, the Mongolia Sales Tax Rate | VAT is projected to trend around 10.00 percent in 2020, according to our econometric models.
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Mongolia Corporate – Taxes
http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/JDCN-89HT8T
10% applies to the first MNT 3 billion of annual taxable income. 25% applies to any excess of MNT 3 billion of annual taxable income.
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Mongolia – Taxes on personal income
http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Mongolia-Individual-Taxes-on-personal-income
A non-resident taxpayer of Mongolia is subject to tax on the income earned in the territory of Mongolia during the tax year.
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Mongolia Corporate Tax Rate | 2012-2016
http://www.tradingeconomics.com/mongolia/corporate-tax-rate
The Corporate Tax Rate in Mongolia stands at 25 percent.
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Mongolia Personal Income Tax Rate | 2013-2016
http://www.tradingeconomics.com/mongolia/personal-income-tax-rate
The Personal Income Tax Rate in Mongolia stands at 10 percent.
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Mongolia Sales Tax Rate | VAT | 2014-2016
http://www.tradingeconomics.com/mongolia/sales-tax-rate
The Sales Tax Rate in Mongolia stands at 10 percent.
Visas
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Mongolia Visa Information
http://www.mongoliavisa.com/
This website contains all the information you need about getting a Mongolian visa, including different types of visa, requirements, places to apply for the visa and fees.
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Mongolia Visa: Application, Requirements
https://mongolia.visahq.com/
Comprehensive Information on Mongolia Visa Requirements
Infrastructure
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To Mongolia: Public Transportation
http://tomongolia.blogspot.com/2009/08/public-transportation.html
Some tourist travel with an organised tour, some share the cost of a hired jeep, and few use public transport.
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Mongolia Telecom Company
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=44439261
Mongolia Telecom Company operates as a telecommunications company in Mongolia. Its services include international telephone service, long distance and local telephone services, facsimile service, leased circuits, telegraph service, TV and radio broadcasting service, public card payphones, Internet service, prepaid phone and prepaid card service, and wireless local loop system’s service.
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Transport in Mongolia – Lonely Planet
http://www.lonelyplanet.com/mongolia/transport
This site provides transportation information including Help Cab and Tours, MIAT, AeroMongolia there are over 72 transport options.
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Mongolia – Telecoms, Mobile and Internet
https://www.budde.com.au/Research/Mongolia-Telecoms-Mobile-and-Internet
Mongolia possesses a liberalised and competitive telecoms market served by multiple competing players and an incumbent operator that no longer holds a dominant share of its market.
Employer Obligations
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Labor Market Regulation in Mongolia
http://www.doingbusiness.org/data/exploreeconomies/mongolia/labor-market-regulation
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, improve job quality for workers, or make workers redundant for economic reasons in Mongolia
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MONGOLIA. LABOUR CODE, 1999
http://www.ilo.org/dyn/natlex/docs/WEBTEXT/57592/65206/E99MNG01.htm
The purpose of this law is to define the general rights and duties of the employer and employees, who are parties to a labour relationship based on a labour contract
Culture/Living
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Mongolia – Education
http://countrystudies.us/mongolia/49.htm
A history of the education system in Mongolia
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Cost of Living in Mongolia.
http://www.numbeo.com/cost-of-living/country_result.jsp?country=Mongolia
Average prices of more than 40 products and services in Mongolia. Prices of restaurants, food, transportation, utilities and housing are included
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Mongolia climate info
http://www.selenatravel.com/80/mongolia_climate
Mongolian climate is one of extremes – hot summers and freezing cold winters. Table of monthly temperatures on this site.
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Demographics of Mongolia – Wikipedia
https://en.wikipedia.org/wiki/Demographics_of_Mongolia
This site provides information on the demographics of Mongolia, including population density, ethnicity, education level, health of the populace, economic status and religious
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The World Factbook — Central Intelligence Agency
https://www.cia.gov/library/publications/the-world-factbook/geos/mg.html
See “People and Society” on this CIA web site
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Mongolia – Labor Force
http://countrystudies.us/mongolia/56.htm
History of the labor force in Mongolia
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Mongolia – Culture, Customs & Etiquette
http://guide.culturecrossing.net/basics_business_student.php?id=138
Guide to travel, doing business, and studying in Mongolia – culture, greetings, gestures,etiquette, taboos, negotiations, gift-giving, and more.
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Mongolia Public Holidays 2016
http://holidayyear.com/holidays/Mongolia
Mongolia holidays 2016, bank holidays, national holidays, official holiday calendar, religious festivals and celebrations for the year 2016
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Mongolia Travel Climate – Weather in Mongolia
http://mongolian-ways.com/climate.htm
Mongolia is high, cold, and dry. It has an extreme continental climate with long, cold winters and short summers, during which most precipitation falls.
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Mongolia Public Holidays 2016 and 2017
http://publicholidays.asia/mongolia/
The complete list of Mongolia’s public holidays for 2016 and 2017
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Mongolia Education System
http://www.classbase.com/Countries/Mongolia/Education-System
Mongolia continues to adhere to the Soviet model of 10 years of school education of which 8 are compulsory, although this is being gradually extended in the direction of the European model.
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Mongolia – Department of Foreign Affairs and Trade
https://www.dfa.ie/travel/travel-advice/a-z-list-of-countries/mongolia/
Travel advice from the government of Mongolia including safety advice.
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Cost of Living in Mongolia. 2016 prices
https://www.expatistan.com/cost-of-living/country/mongolia
Cost of living comparisons in more than 1,600 cities all over the world.
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Mongolia travel advice – GOVUK
https://www.gov.uk/foreign-travel-advice/mongolia/safety-and-security
Latest travel advice for Mongolia including safety and security, entry requirements, travel warnings and health
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Business Etiquette Tips – Mongolia
https://www.moveoneinc.com/blog/relocations/enbusiness-etiquette-tips-mongolia/
A look at a couple of business etiquette tips from Mongolia.
Trade
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Trade and Investment – Embassy of Mongolia
http://mongolianembassy.us/trade-and-investment/#
Since the commencement of diplomatic relations between Mongolia and the United States in 1987, bilateral trade and economic ties have expanded, with Mongolia offering business opportunity the gateway into fast-growing and giant markets of its neighbors, China and Russia.
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Mongolia Customs Regulations
https://mongolia.visahq.com/customs/
Customs regulations and procedures for importing and exporting goods at border.
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Mongolia | Export.gov
https://new.export.gov/countries/MN
Information for US exporters to Mongolia
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WTO | Mongolia – Member information
https://www.wto.org/english/thewto_e/countries_e/mongolia_e.htm
This site provides key information on Mongolia’s participation in the WTO. Mongolia has been a member of WTO since 29 January 1997.
Housing and Rentals
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Mongolia Guesthouses and B&B – Lonely Planet
http://www.lonelyplanet.com/mongolia/hotels/guesthouses
Mongolia guesthouse reviews from independent authors and book Mongoliaguesthouse accommodation online with Lonely Planet
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Mongolia Accommodations
https://www.tripadvisor.com/SmartDeals-g293955-Mongolia-Hotel-Deals.html
A listing of available hotels in Mongolia
Travel
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Mongolia Guide — National Geographic
http://travel.nationalgeographic.com/travel/countries/mongolia-guide/
A guide to Mongolia with articles, photos, facts, videos, and news from National Geographic.
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Mongolia 2016: Best of Mongolia Tourism
https://www.tripadvisor.com/Tourism-g293955-Mongolia-Vacations.html
15,830 reviews of Mongolia Hotels, Attractions, and Restaurants making it your best Mongolia resource.
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