Why Do Business in Mongolia?

In 2020, Mongolia is ranked as tenth country in the East Asia & Pacific by the World Bank in ease of doing business.

Mongolia is the fast growing region offering endless opportunities and dynamic experiences. PwC Mongolia helps to highlight our connectivity, depth and breadth of our people's skillsets & collaborative nature in which we bring our purpose to life. PwC's priority is to help clients succeed in this dynamic and ever-changing region & to build trust in society.

1. Close proximity to the biggest global resource markets

Mongolia is in excellent proximity to major industrial centers and closest destinations to the Chinese and Russian markets which are the leading countries with their economy and could become major resources in the Asia Pacific region such as Japan, South Korea and as well as India.

2. Abundant natural resources and minerals

Mongolia has substantial natural resources and minerals, which promise an unprecedented growth potential. Mongolia as a one of the world's leading mineral resources has over 8,000 occurrences and 80 types of minerals and metals in the 1170 minefield and high prospective for copper, base metals, gold, coal and uranium.

3. Potential and organic agricultural sector

Apart from mining resources, we have also broad opportunity to develop traditional agricultural sector and a great potential for exports of high value added industrial products.

4. A young growing and well educated smart people

Mongolia has relatively high percentage of young population (up to 30 year olds constitute 61% of all population) and more than 60% working force.

5. Flexible regulations relating to foreign investors

Mongolia has established Foreign Investment Protection and Promotion Agreement with 43 countries and Double Taxation treaties with 26 countries. Mongolia is the member of the Seoul Convention establishing the Multilateral Investment Guarantee Agency and Washington convention on the Settlement of Investment Disputes.

6. The lowest utility cost in the region

Mongolia has significantly low price for its water, electricity and mobile.