The main problem hindering the development of Mongolia today is the “poor” governance of the state and companies.
This is what all international and research organizations and researchers say. Here is a summary of the results of one study:
In the second half of 2017, the MNCCI and the School of Business of the National University of Mongolia conducted a business environment survey with a maximum possible score of “7”: Infrastructure and Technology 3.43; Business organization activities 3.37; Economic environment 2.96; Society and Culture 2.93; Governance has a legal rating of 2.69 or the lowest, with an average overall score of 3.03, which means that our business environment is extremely unsatisfactory, as well as the implementation of good governance principles in the operations of business organizations.
Our company was reorganized into a state-owned joint-stock company by the resolution of December 14, 1992. The company issued 242,464 shares, leaving 51% or 123,657 shares in state ownership and trading the remaining shares in the market. As of 2020, it has a total of 121 shareholders and 27 brokerage firms.
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