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Mongolia’s “TOP-100” Businesses of 2024 Recognized www.montsame.mn
The Government of Mongolia, jointly with the Mongolian National Chamber of Commerce and Industry announced the “TOP-100” enterprises for 2024, marking the 24th consecutive year of recognizing the country's leading companies.
Prime Minister Zandanshatar Gombojav attended the ceremony and expressed gratitude to businesspeople, enterprises, and producers. Mongolia’s economy grew by 4.9 percent last year, with GDP reaching MNT 80 trillion. The sales revenue of enterprises accounted for about 70 percent of the economy and generated approximately 30 percent of tax revenue. The Prime Minister emphasized that the role and contribution of enterprises were significant in driving economic growth and providing thousands of jobs.
Prime Minister Zandanshatar also noted that the Government plans to submit a package of laws to the State Great Khural to support producers. This package will include the Public-Private Partnership Law, Tax Reform, and the Procurement Law. Additionally, the Prime Minister stated that the Government will carry out comprehensive reforms to eliminate barriers in licensing and bureaucracy through laws on the Mongolian National Chamber of Commerce and Industry and professional associations.
Pledging the Government’s full cooperation with enterprises and producers in supporting human development, creating quality jobs, increasing employment, and transitioning from welfare to labor, the Premier called for leadership in strengthening public-private partnership cooperation for the country’s development, prosperity, and the improvement of people’s quality of life.
The amount of tax paid by Mongolia’s 2024 “TOP-100” enterprises increased by MNT 1.4 trillion compared to the previous year, reaching MNT 7.6 trillion—constituting 28 percent of total tax revenue. The sales revenue of the “TOP-100” enterprises rose by MNT 4.5 trillion, reaching MNT 54.9 trillion, which is about 69 percent of GDP. The number of employees reached 87,500, equal to 6.5 percent of total employment.
Companies in the mining and extraction sector led the 2024 “TOP-100” enterprises, followed by those in trade, manufacturing, services, and the banking and finance sectors. Fourteen joint-stock companies with publicly traded shares were included in this year’s list—marking the highest number of listed companies ever in the ranking.
The list also included 27 foreign-invested companies and among the 25 export-oriented enterprises, five were noted for exporting non-mineral products.
Published Date:2025-07-04
