The Investment Law was enacted in 2013 and was relatively progressive, offering several incentives to investors. However, numerous challenges in its implementation have created burdens for investors, including the inconsistency of provisions related to tax incentives offered by the law and tax law and a capital requirement of 100,000 USD for each investor. The long-awaited amendments were drafted by the newly established Ministry of Economy and Development (MED). It is commendable that the ministry, under the personal leadership of its minister, convened a series of inclusive and participatory consultations, provided English and Mongolian versions of the draft, and responded with detailed feedback to comments from stakeholders. The draft has several progressive features, including removing the 100,000 USD capital requirement and using arbitration as a dispute resolution mechanism. [...]
Policy & Advocacy
The Minerals Law amendments are one of a few critical pieces of legislation investors are closely monitoring. The Minerals Law was first adopted in 2006. The mining sector has faced boom-and-bust cycles, with regulations related to exploration and mining permits changing radically in recent years. The Ministry of Mining and Heavy Industry (MIHI) plans to develop comprehensive legislation to address inconsistency and overlaps in other legislation related to the minerals sector. The MIHI organized a series of public consultations on the amendments in March 2023. AmCham Mongolia provided its members with an English version of the amendments, submitted 120 comments—highlighting 16 critical comments, and attended the public consultations organized by the MIHI. [...]
The real estate brokerage industry is relatively new to Mongolia but has grown rapidly. The value of the Real Estate market is projected to reach US$36.07bn in 2023. Residential Real Estate dominates the market with a projected market volume of US$26.45bn in 2023. The value is expected to show an annual growth rate (CAGR 2023-2028) of 10.38%, resulting in a market volume of US$59.09bn by 20281. Eighty-eight companies, or 31 percent of all licensees registered with the Financial Regulatory Commission (FRC), are international franchisees. Sixty-six firms have RE/MAX franchise licenses, 21 companies hold Century 21 licenses, and one company has a Keller Williams franchise license. [...]
We are pleased to share with you our "Position Paper on Effective Internet Governance" in English and Mongolian, which was developed by our ICT and Digital Economy Committee, chaired by A.Byambajaa (META). We thank the chairwoman and members of the ICT and Digital Economy Committee including the U.S. embassy for their constructive feedback and comments on this paper. This paper analyzes the impact of social media crimes and proposes effective strategies to keep the internet safe and protect fundamental human rights, including the freedom of speech. Social media platforms have become integral to people’s lives worldwide, enabling communication, information sharing, and social interaction on an unprecedented scale. However, along with the numerous benefits, the rise of social media has also brought about significant challenges related to digital crime. Like many other countries, Mongolia faces the urgent need to govern and legislate concerns associated with social media, including fraud, child pornography, the dissemination of false information, and related crimes. While doing so, Mongolia must also ensure that new laws and policies do not infringe upon personal freedoms and free speech or cause commercial harm. [...]
AmCham Mongolia's latest position paper on Mongolia's Trade and Investment Policy (in English), covers the government's previous policy framework to attract and retain foreign direct investment (FDI), including Vision 2050, as well as the most recent New Recovery Policy, with a focus on Mongolia's need to increase FDI from third-country investors. [...]
This position paper was developed by American Chamber of Commerce in Mongolia (AmCham Mongolia) to explore areas of opportunity in Mongolia, specifically its film industry to boost investment, promoting the country as a global destination for international film-makers and studios. This policy paper provides a review of the global regulatory environment surrounding the film and production industry and a set of recommendations that Mongolia’s policy makers should consider putting in place so the world’s top studios will choose Mongolia for their film and television projects. [...]
This position paper, titled â€œEnvironmental Damage of Old Car Batteries and Recommended Solutionsâ€, was developed by the American Chamber of Commerce in Mongolia (AmCham Mongolia), the Mongolian Automobile Distributorsâ€™ Association (MADA), and Authority for Fair Competition and Consumer Protection of Mongolia (AFCCP). The position paper outlines the environmental damages and health hazards for the population of Mongolia caused by old car batteries and proposes certain policy recommendations based on local initiatives and international best practices in handling these issues. The challenges and recommendations were developed with input from key stakeholders, raised and discussed during the Environmental Damage of Old Car Batteries and Recommended Solutions policy workshop held on October 13, 2020. The workshop was organized by AmCham Mongolia, MADA, and AFCCP, in cooperation with the Ministry of Road and Transport Development of Mongolia, Ministry of Nature and Environment of Mongolia, and the Ulaanbaatar Specialized Inspection Agency. AmCham Mongolia, namely its Auto and Machinery Committee, and MADA stand ready to discuss these challenges and suggested solutions with the stateâ€™s authorities to make sure that necessary actions are taken to minimize risks and to avoid their potential negative impact on people and the environment. Position Paper on Recycling Old Car Batteries ENG Position Paper on Recycling Old Car Batteries MONÂ [...]
Science, technology, and innovation (STI) are recognized as major contributors to economic and social development by leading authorities and developed economies. The greatest growth in Asian economies has been experienced by those countries aligning STI with their social and economic priorities over the long term and integrating them into overall policy decision-making. Regrettably, Mongolia has not followed this practice and, as a result, its economic growth has lagged behind leaders in the region. In line with the constantly changing business environment due to the rapid development of information and communications technology (ICT) and COVID-19, AmCham Mongolia established its ICT and Digital Economy Committee in June 2020. The AmCham ICT and Digital Economy Committee will advance the development of information and communications technology (ICT) infrastructure and services in Mongolia, and will promote cooperation, information sharing, and the development of effective ICT policies and regulations. It also aims to enhance social and economic development through the effective use of ICT, as well as to promote a secure and trusted ICT environment for businesses at various levels. The Committee will work to bring together leaders of member companies in telecommunications and information technology, along with other sector leaders, to exchange and nurture a better business and investment environment in Mongolia. The new Parliament and Cabinet are planning to digitalize public services by establishing the Digital Policy and Innovation Standing Committee and implementing the nationwide Digital Mongolia program. There are lots of opportunities for AmCham Mongolia and its newly established ICT and Digital Economy Committee to lead these government initiatives by sharing their experience and know-how. AmCham Mongolia Position Paper on Digital Transformation & Economy ENG AmCham Mongolia Position Paper on Digital Transformation & Economy MON [...]
As a result of the 2020 parliamentary election, new Cabinet led by Prime Minister U.Khurelsukh is formed in July, 2020, and it oï¬ƒcially requested the American Chamber of Commerce in Mongolia (AmCham Mongolia) to submit its proposals for Cabinet's 20202024 action plan.
AmCham Mongolia ï¬rmly believes that Mongolia's current social and economic issues can be addressed through the growth of a strong and competitive private sector. Moreover, a private sector-led economy will provide sustainable development for the country and for the well-being of current and future generations of Mongolians.
Based on input from AmCham Mongolia's members and our Roadmap for Growth 2020, AmCham Mongolia is making the following policy recommendations for Cabinet's 2020-2024 action plan.
The global outbreak of COVID-19 and unprecedented precautionary measures around the globe, and in Mongolia, have had a significant impact and brought tremendous challenges to businesses, their supply chains, employment, cash flows, and contractual obligations.
This policy paper reviews the pandemic situation in Mongolia, highlighting AmCham Mongolia's policy efforts to support its members during this challenging time, and defines ways forward in operating in the post-COVID19 world, based on international experience and best practices.
Please see the following Position Paper for your reference.
Through it's Auto and Machinery Committee, AmCham Mongolia has developed a Position Paper titled "The Critical Issues of the Auto Industry and Recommended Solutions". The Position Paper outlines key challenges in promoting an environmentally friendly auto sector in Mongolia, and proposes certain policy recommendations based on local initiatives and international best practices in handling these issues. The challenges and recommendations were developed with input from key stakeholders, raised and discussed during the Eco-friendly Auto Industry Policy workshop held on November 14, 2019. The workshop was organized by AmCham Mongolia and the Mongolian Automobile Distributors' Association (MADA), in cooperation with the Ministry of Road and Transport Development of Mongolia and the Ministry of Nature and Environment of Mongolia. AmCham Mongolia, namely it's Auto and Machinery Committee, stands ready to discuss the challenges and suggested solutions with the state's authorities to make sure that necessary actions are taken to minimize risks and avoid potential negative impact on the industry and the environment, and to improve progress toward developing an eco-friendly auto industry in Mongolia. Please see the following Position Paper for your reference. AmCham Position Paper: The Critical Issues of the Auto Industry and Recommended Solutions [...]