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. [...]
Policy & Advocacy
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 [...]
In April 2019, Amcham's Financial Services Committee ('AFSC') was presented with the draft Law on Setting Maximum Legal Rate of Loan Interest and Combatting Usury ('Draft Law') - (translated into English from the original Mongolian version). Based on the information disclosed, we are now formulating our position about the draft regulation ('Policy Document'). Please see the following Position Paper for your reference. Position Paper on Draft Law on Interest Rates [...]
The American Chamber of Commerce (AmCham) in Mongolia successfully organized its annual U.S. Doorknock to Washington, D.C., from June 23-26, 2019. AmCham has been hosting its U.S. Trade Mission (Doorknock) annually since 2014 to strengthen the commercial relationship between Mongolia and the United States. AmCham Mongolia's Annual Doorknock is aimed to allow business leaders from its members and the general business community in Mongolia to engage with a range of high-level policymakers in Washington, D.C., as well as American businesses, and to present Mongolia as a destination for American investments, to provide a more accurate perspective on the business environment in Mongolia, to engage in discussions of broader-scale cooperation. AmCham Mongolia's delegation included 10 executive representatives from leading American, international, and Mongolian companies, including Woodmont International, DB>S Advocates, General Electric, Gobi, Rio Tinto, Seruun Group, South Gobi Sands, Ta Chi Mart, and Trade and Development Bank. For more information please see below AmCham Doorknock 2019 Report. AmCham Doorknock 2019 ReportÂ [...]
Mongolia has been engaging an extensive tax reform discussion over the past few months. As a consequence, key tax laws including General Law on Taxation, Corporate Income Tax Law, Personal Income Tax Law, and VAT Law have been substantially revised by Mongolian Parliament, under Governmentâ€™s tax reform packages.
The new tax laws require the Cabinet, Ministry of Finance and Mongolian Tax Authority to release a number of implementing guidelines in the coming months. As these regulations largely play an important role to set the tone of the taxing rules, we encourage you to monitor these developments in a timely manner.
The new tax rules shall take effect on 1 January 2020.
A number of important changes that may have a big impact on taxpayers, requires taking appropriate actions to comply with the new requirements.
This Position Paper highlights key changes in this alert. If you have any questions in regards to tax reforms summarized in this Position Paper, feel free to contact any of the persons at AmCham Mongolia.AmCham Position Paper: Update on Tax Amendments ENGÂ [...]
IFC, a member of the World Bank Group, is joining the UN FAO, Mercy Corps, and AmCham Mongolia in launching an initiative to promote modern livestock technologies in Mongolia, thereby boosting the sector's productivity and competitiveness. The initiative created a first-of-its-kind platform to bring together beef and dairy business leaders, industry experts, and policymakers, who shared their expertise to bolster the country's livestock sector. Livestock has long been a priority sector for Mongolia, because of its contributions to inclusive economic growth and export diversification. The adoption of modern technologies will allow herders and farmers to reach much higher yields. Artificial insemination, for example, allows local dairy farms to supply high-quality milk all year round, ensuring constant cash flow through longer contracts with processors. Cattle farms have also used such technology for improving the quality of breed stock, increasing meat output by three times. This policy paper outlines key challenges in the beef and dairy sectors in Mongolia and proposes certain policy recommendations based on local and international best practices in handling these issues. The challenges and recommendations were developed with input from key stakeholders, raised and discussed during the Pioneers in Beef and Dairy Development in Mongolia forum, held on March 21, 2019. AmCham Position Paper on Competent Beef and Dairy Sectors ENG AmCham Position Paper on Competent Beef and Dairy Sectors MON [...]