Ranked in the TOP100 enterprises of 2018
The Government of Mongolia and the Mongolian National Chamber of Commerce and Industry (MNCCI) have jointly ranked and honored Mongolia's top 100 enterprises for the 18th year in a row at the Government House. The Prime Minister of Mongolia, U.Khurelsukh, on behalf of the Government of Mongolia and on his own behalf, congratulated all the taxpayers, wealth creators and representatives of the top companies and entrepreneurs who are leading in the country, social and economic development and leading in all sectors. delivered and greeted. Bayan Airag Exploration LLC is ranked 90th in terms of success.
Source: https://www.mongolchamber.mn/p/114
He said, “The Government of Mongolia has successfully implemented the macroeconomic goals and the goal of improving the investment climate set out in the Action Plan and the Economic Recovery Program together with you, the business community. I would like to emphasize that our country's credit rating has improved and reached B3 in early 2018, which has created a very favorable basis for improving the credit rating of commercial banks and private companies. According to the preliminary results of the first quarter of 2018, Mongolia's GDP growth reached 8.6 percent, the highest level in the last 5 years. As the head of the government, I would like to emphasize that the contribution of the TOP-100 companies to the society and economy of Mongolia is growing year by year, and I would like to express my sincere gratitude to all of you. ”
Opening the event, O.Amartuvshin, President of the Mongolian National Chamber of Commerce and Industry, said, Congratulations and thanks on behalf of the members.
We all know that these top 100 companies, which are ranked year after year, carry most of the state tax revenue on their backs and are the main driving force of the Mongolian economy.
If the government wants to accelerate economic development and implement public-private partnerships in the true sense of the word, we have to support these top companies. In turn, it is important for large companies to support small and medium enterprises and develop their markets. While the top 100 enterprises form the basis of their taxes, small and medium enterprises must maintain and increase employment.
According to this year's list, the sales revenue of the TOP 100 enterprises in 2018 increased by 5 trillion and reached 30 trillion from the previous year, accounting for 96 percent of GDP. In addition, the amount of taxes paid increased by 29 percent from the previous year, reaching MNT 4.1 trillion, which is equivalent to 50 percent of Mongolia's total tax revenue.