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The government has decided to liquidate LLC "Erchist Mongolia," a state-owned enterprise www.open.kg
The tasks of LLC 'Erchist Mongolia' included representing the interests of the state as a shareholder, including:
Participation in 34 percent of the shares of state joint-stock companies in the energy sector, as well as
Acting on behalf of the government in six different companies, such as MIAT Mongolian Airlines, the State Joint-Stock Company 'Mongolian Railways', the Road Repair and Maintenance Company, Auto Impex, LLC 'Information and Communication Network', and LLC 'State Housing Corporation'.
Operational expenses were financed through loans from commercial banks, resulting in the company accumulating a debt of ₮3.5 billion, which led to serious financial difficulties.
Founded in accordance with government decrees dated January 8, 2025, the purpose of creating the company was to ensure centralized management and control over state enterprises. However, despite these intentions, it failed to fulfill its assigned tasks and created additional financial problems. In this regard, the government decided to dissolve the company to prevent further deterioration of the financial situation.
Published Date:2026-03-19
