The TOP-100 enterprises posted combined sales revenue of 65.7 trillion MNT last year, an increase of 10.8 trillion MNT from the previous year and equivalent to 73 percent of the country’s Gross Domestic Product, according to the annual ranking released jointly by the Government and the Mongolian National Chamber of Commerce and Industry (MNCCI).
The companies contributed 8 trillion MNT in tax revenue to the state budget, up by five percent year-on-year and accounting for 30 percent of the country’s total tax collection. They also sustained 85,000 guaranteed jobs, representing 6.1 percent of the nationwide workforce.
Oyu Tolgoi LLC, MAC LLC, Khaan Bank JSC, Energy Resources LLC, and Golomt Bank JSC claimed the top five positions overall. Mining, extraction, trade, finance, insurance, processing and information and communication emerged as the leading sectors. Among the ranked companies, 86 are organized as limited liability companies and 14 as joint-stock companies, with 67 headquartered in Ulaanbaatar and 19 in Umnugovi Province.
Speaking at the awards ceremony, Prime Minister N.Uchral pointed to major legal reforms underway to safeguard private sector freedom and improve the investment climate. He cited a draft Law on Business Freedom and 99 accompanying amendments submitted to Parliament, aimed at reducing special licenses and inspections and curbing state intervention in business activity. He further stated that Mongolia’s tax system, unreformed for years, will be restructured into a transparent, support-based framework designed to ease the burden on businesses.
MNCCI President B.Lkhagvajav highlighted the role TOP-100 companies play in advancing major strategic projects through public-private partnerships and driving economic growth, pledging that the Chamber will work to maintain a stable legal environment and support fair competition. Together accounting for 30 percent of national tax revenue and 73 percent of GDP, the TOP-100 enterprises stand once again as the principal pillar behind Mongolia’s economic independence and sustainable growth.
The list was compiled by a joint working group comprising the Ministry of Finance, the General Department of Taxation, the Customs General Administration, the General Department of Social Insurance, the Financial Regulatory Commission, the General Department of State Registration and the National Statistics Office, drawing on legally certified official data and open criteria. This year’s edition introduced a new feature, expanding beyond the core TOP-100 to include data on the next 200 competing companies.
