Click here to view the original newsletter!
Mongolians and foreign businesses with a presence in Mongolia will be glad to see the latest rankings for Mongolia by the World Justice Project (WJP). According to the WJP, Mongolia’s rule of law ranking has increased by four places in comparison to other nations of the world. Mongolia is now ranked at 51 out of 113 countries in the index.
The index measures how closely law enforcement and regulatory agencies adhere to the law. Its methodology includes surveys of households and international experts. The index attempts to show public perceptions of enforcement of the rule of law based on everyday situations.
Mongolia was ranked according to 44 indicators established by the WJP that reflect key values in 8 main areas of law enforcement. Such factors include:
- Constraints on Government Powers;
- Absence of Corruption;
- Open Government;
- Fundamental Rights;
- Order and Security;
- Regulatory Enforcement;
- Civil Justice; and
- Criminal Justice.
Mongolia’s rank in 2017 is four places higher than in the previous year, reflecting improvements in promoting the rule of law in daily life, and reducing corruption. Mongolia ranks seventh of the fifteen East Asia and Pacific countries, and ranks fourth of the 30 countries in the low-middle income range.
To the extent Mongolia’s rise in ranking reflects better overall knowledge and application of the law, and lower rates of corruption, it is a big positive for the country and its people. Businesses to, foreign and local, will benefit from greater certainty that laws and regulations will be applied fairly. Corruption can be a major drag on economic performance and prevent investment and growth. The higher ranking in 2017 bodes well for business in Mongolia in 2018. We hope the gains can be continued with further improvements in 2018.