Press Release – AmCham Releases Nationwide Survey Results on Mongolian Business Environment
ULAANBAATAR, Mongolia–The American Chamber of Commerce (AmCham) in Mongolia, with the support of the USAID-funded Business Plus Initiative (BPI) project released the results of a national public opinion survey titled, “Nationwide Survey Results on Mongolian Business Environment.” The survey was conducted in late November 2014 by the Sant Maral Foundation in Ulaanbaatar and is a national representative sample of 1500 adult Mongolian citizens.
This survey aims to provide a better understanding of public perceptions toward the economy, business, foreign investment, and politics in Mongolia. The survey findings underscore the overall negative perception of the business environment in Mongolia, provide insights that Mongolians predominantly regard the U.S. as its Third Neighbor and believe that the U.S.-Mongolia commercial relationship has significant potential, and recommend measures that need to be taken to improve confidence in Mongolia’s economy.
Moreover, the survey reveals that the economy, unemployment, and corruption are the paramount concerns of Mongolians. Almost half of the respondents believe that the country is going in the wrong direction. Two thirds of the people are assessing the current business environment negatively and only a fifth of respondents think that the economy will improve in the next six months. In addition, more than half of the population views instability – as measured by macroeconomic instability, inflation, high fiscal deficits and high foreign debt – as the main obstacle to business development in the near future. The survey also shows a strong support on the part of Mongolian population for the Government promotion and facilitation of foreign investment.
AmCham Mongolia encourages bold action by the Mongolian Government to restore confidence and improve the conditions for accelerated and inclusive growth.
Jackson Cox, Chairman of AmCham Mongolia, said, “We are happy that the survey data show the broad recognition by the Mongolian public that American companies offer the best quality, management, and community partnerships. Yet, Mongolians also have little knowledge about specific American businesses operating in Mongolia today, which demonstrates that we have a lot of work to do to better promote the American companies that are working in Mongolia and also advocate for greater commerce between the United States and Mongolia.”
About AmCham Mongolia
AmCham Mongolia is an independent membership-driven organization that seeks to build, strengthen, and protect business between the United States and Mongolia and to actively promote Mongolia as a destination for American investment. AmCham Mongolia is the official local affiliate of the U.S. Chamber of Commerce. Based in Washington, DC, the U.S. Chamber of Commerce is the largest business federation in the world with over 3 million member companies.
Since 1991, USAID has provided over $230 million worth of technical and humanitarian assistance in support of Mongolia’s democratic, economic and social transition.
Download the complete survey results here: