Top 100 National Locomotives

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The Government of Mongolia, along with National Chamber of Commerce and Industry selected Top 100 entities of the year 2007. According to the main criterion of the selection-tax payment, Mongolia-Russia joint enterprise “Erdenet” ranked first. Copper price in the world market has gone up. Its success could be drawn back by saying it is the public enterprise of which 51 percent is owned by Mongolia and 49 percent by Russia, though there is no way other than respecting efforts and contribution of the staff of this giant enterprise which paid MNT127 billion for entities tax, recording the sales of MNT820 billion in 2006. MCS followed the giant for the second time. Since Erdenet is a state enterprise, it means MCS led the private sector. It is said that through high level of tax payment, the company shows how transparent it is. MCS group paid tax and fee of MNT 13.5 bln in 2004, MNT23.1 bln in 2005, MNT32.5 bln in 2006 and MNT47.8 bln in 2007. Out of MNT 47.8 bln, MNT 24.7 bln go for excise tax and MNT 23.1 bln for other taxes and bills. It demonstrates that the group has dug not only into food industry but also into other businesses. MCS has paid MNT 116.9 bln taxes for last 4 years. If we assume over MNT2 billion is necessary for constructing a secondary school complex, this group alone paid taxes equal to building such 2 or 3 complexes. Following these two enterprises, major national investors such as Mobicom, Petrovis, Mongolian Telecommunication, Magnai trade, Tsairt mineral, Boroo Gold, NIC and Just rank in the first ten.

The next selection criterion for Top 100 enterprises was job places created. It is said that Erdenet has 6000 employees and MCS has about 3000. Statistical data shows that the number of unemployed people, actively seeking job, has declined by 3.0 thousand in 2007 as compared to that of the previous year. MCS group created 616 new job places in the same year. If national giant entrepreneurs expand intensively like this, shadow of unemployment and poverty will shrink.

Another important criterion of the selection was a brand new one-social liability of the company. MCCI puts a lot of effort to bring this principle, which has become a standard for other in terms of its marketing policy of Akio Morita, founder of SONY Corporation, Japan that a brand must be famous and liable, into national companies. In 2006, the Government and the MCCI selected Top5 enterprises according to social liability of the company for the first time, and the tops were Erdenet and MCS. They confirmed their rank this year, too, in the Top 100. Among mining companies in Mongolia, Erdenet formulated its report on social liability at first and social liability report has become a routine for MCS. Three enterprises, including Erdenet, MCS and Mobicom, ranking at the first three do not give much importance to business profit. They spend their time and money on changing dark colors of the nation into brighter ones by reducing poverty, unemployment and pollution.

According to history of highly developed countries, the state encouraged national locomotive companies that draw the nation forward. We could say those selected in Top 100 could be named our National LOCOMOTIVES.

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