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Mongolia to Launch 45 Percent Production Incentive www.hollywoodreporter.com
Mongolia has entered the race to attract big-budget global productions.
The central Asian nation unveiled in late August a range of competitive incentives for both domestic and international studios that use Mongolia for their film and television production projects. The generous nature of the program is certain to make Mongolia a competitive territory in the global race to attract high-profile Hollywood shoots.
Mongolia’s new incentives include a 30 percent cash rebate for qualifying film and TV productions that take place in the country; an additional 10 percent cultural rebate for projects that showcase Mongolian culture and heritage; a 5 percent foreign crew and talent incentive; a 30 percent postproduction incentive for approved projects that use a substantial number of personnel during postproduction; and a 20 percent incentive for Mongolian productions or co-productions that promote the country and its culture. Altogether, the incentives can be taken separately or together for a total 45 percent cumulative incentive.
The generous nature of the program seems likely to lure more large-budget projects to make use of Mongolia’s striking natural landscapes.
Nomin Chinbat, Mongolia’s minister of culture who spearheaded the effort to draft the legislation and build the support in the Mongolian Parliament to get it approved, notes: “I’m so pleased Parliament took action and approved this new law. We must now work to ensure this initiative is launched in a way that demonstrates we are serious about developing a world-class production sector in Mongolia.”
The Mongolian Film Council and its various incentive programs will be launched and operational in January.
This story first appeared in The Hollywood Reporter’s Sept. 1 daily issue at the Venice International Film Festival.
Published Date:2021-09-02
