Archives: FAQs

A: Its largely unexploited mineral wealth. There are approximately 6,000 known deposits of over 80 different minerals in the country, including coal, copper, and gold. Only 27% of Mongolia has been surveyed to a scale of 1:50,000.

A: Currently,  93% of Mongolia’s exports go to China.

A: Currently, just under 50%.

A: Mongolia’s extraordinarily harsh winters (‘Dzud’) are a major cause. There are three types of Dzud: Black, White and Ice.  A ‘Black Dzud’ occurs after an exceptionally hot, dry summer, leaving low-lying grasses weak. This makes it difficult for herd animals to find fodder, and many starve.  A ‘White Dzud’ from unusually heavy snowfall which prevents animals from reaching fodder. An ‘Ice Dzud’ is when freezing rain covers the ground, making grazing impossible. In 2009/2010 a Dzud killed an estimated 17% of all of Mongolia’s livestock, leading many rural Mongolians to leave the countryside and relocate to the city.

A: The Democratic Party  currently holds 31  Ikh Khural seats; a plurality, but not a majority.  They have formed a coalition government with the Mongolian People’s Party, who hold 25 seats. (Until a few years ago, the MPP was the Mongolian People’s *Revolutionary* Party; 99.3% of its members approved the name change). The DP tends to have a free market outlook, while the MPP leans toward “resource nationalism”; greater regulation and taxation of foreign businesses.  32% of Ikh Khural members are women.

A: Excellent. The Mongolian political system provides for “separation of powers”: the Ikn Khural’s members select the Prime Minister to preside over the Cabinet, while the Mongolian people directly elect the President, who serves as Head of State and Commander-in-Chief of the Armed Forces. He has veto power over new laws, which requires a super majority to override. He serves a maximum of two four year terms.

A: Since 1990, Mongolia has been a multi-party democracy. It has a unicameral parliament (the Ikn Khural) with 76 members.

A: Very favorably. Mongolia’s personnel income tax is a flat 10%. In China the rate ranges from 3% to 45%, and in Russia the flat tax is 30%. The Mongolian corporate tax rate ranges from 10% to 25% for firms incorporated in Mongolia; 20% otherwise. The Chinese and Russian rates are 25% and 20% respectively. Mongolia’s Value Added Tax is 10%; in China, the VAT is 17% and in Russia 18%.

A: One block to the left of Sukhbaatar Square lies the heart of the Mongolian banking system, where the majority of the country’s largest financial enterprises are headquartered. Here the central offices of Golomt Bank, Trade and Development Bank, Capital Bank, Ulaanbaatar Bank, Savings Bank and State Bank surround the imposing Central Bank of Mongolia. Buried amongst the financial institutions are an assortment of foreign embassies, including those of France, Germany, and Turkey

A: The National University of Mongolia, established in 1942, is the oldest in the country. Originally the university was a training ground for the communist party’s executive class. Now offering a variety of competitive programs, approximately a third of university educated Mongolians graduate from the institution, with an estimated 11,000 undergraduates, 2000 graduate students, 800 faculty members, and 400 academic support staff registered at any one time.