Mongolia Recognizes Top 100 Enterprises for 2024 Amid Economic Growth

Mongolia's economy expanded by 4.9 percent in 2023, with its GDP reaching MNT 80 trillion. The top 100 enterprises generated approximately 30 percent of the country's tax revenue and accounted for about 70 percent of the economy's sales revenue. The Prime Minister, Zandanshatar Gombojav, acknowledged the significant role of these companies in driving economic growth and creating jobs, while also emphasizing the need for further government support and reforms to facilitate public-private partnerships.

Key Takeaways:

• The 'TOP-100' enterprises for 2024 contributed approximately 30 percent of Mongolia's tax revenue.
• The sales revenue of the 'TOP-100' enterprises accounted for about 70 percent of the country's economy.
• The number of employees in the 'TOP-100' enterprises reached 87,500, which is 6.5 percent of total employment.
• Companies in the mining and extraction sector led the list, followed by those in trade, manufacturing, services, and banking and finance sectors.
• The 'TOP-100' list included 14 joint-stock companies with publicly traded shares, marking the highest number of listed companies ever in the ranking.
• Fourteen joint-stock companies with publicly traded shares were included in the list.
• 27 foreign-invested companies were included in the list.
• Five export-oriented enterprises were noted for exporting non-mineral products.

Statistics:

• Mongolia's economy grew by 4.9 percent in 2023.
• GDP reached MNT 80 trillion.
• The sales revenue of the 'TOP-100' enterprises reached MNT 54.9 trillion, accounting for 69 percent of GDP.
• The amount of tax paid by the 'TOP-100' enterprises increased by MNT 1.4 trillion compared to the previous year.

Sources:

• The Government of Mongolia