Mongolia ranked at 76 on Doing Business Study

Oct 24 • Business, News • 706 Views • No Comments on Mongolia ranked at 76 on Doing Business Study

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Mongolia has been considered as one of the 10 economies that improved most in business climate and regulatory environment according to the World Bank’s Doing Business 2013 report. First published in 2003, the report now measures 185 countries with 11 indicator sets that look at the factors affecting the ease of doing business – setting up a business, construction permits, paying taxes, registering property, access to credit, protecting investors and enforcing contracts.

Among the other most improved economies are Poland (55), Kazakhstan (49), Greece (78) and Sri Lanka (81). In case of Mongolia, progress has been made in reduction of regulatory barriers in starting a business, getting a credit and protecting the rights of investors. Also, the fact that the minimum amount required to set up a limited liability company in Mongolia is no longer effective was considered too.

In Doing Business 2012, Mongolia was ranked at 88.

More details on the findings of the report can be found at http://www.doingbusiness.org/.

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