On May 20, the Government of Mongolia and Mongolian National Chamber of Commerce and Industry announced this year’s rankings of TOP-100 business enterprises online. The rankings are based on 2019 data on the companies’ revenues, state budget contributions of their tax payments, the number of their employees paying social insurance premiums, net profit and total assets.
The total amount of sales revenues of the TOP-100 enterprises grew by 3.4 percent since previous year, reaching MNT 34.3 trillion, which is already 93 percent of the country’s total GDP. The recognized companies also paid a collective MNT 6.3 trillion in taxes, which showed an increase of 54 percent compared to last year and equaled to 65 percent of the country’s tax revenues, 15 percent higher than last year’s. In 2018, tax collected from the top 100 companies accounted for 50 percent of the total tax collected.
The number of people employed by the enterprises increased by 6,000 thousand to reach 89,000, making up for 8 percent of all job places, and the enterprises are estimated to pay around 27 percent of the total revenues of social insurance premiums.
And the top 10 enterprises are:
1. Erdenet Mining Corporation LLC
2. Erdenes Tavan Tolgoi LLC
3. Oyu Tolgoi LLC
4. Khaan Bank
5. Energy Resources LLC
6. NIC LLC,
7. Golomt bank
8. Ulaanbaatar Railways JSC
9. Mongoliin Alt (MAK) LLC
10. TTJVCO LLC
Among group companies, MCS Group, Petrovis Group, Nomintav Trade LLC, Shunkhlai LLC and Tavan Bogd Group took the highest positions in the top list. The full list of the TOP-100 enterprises and their key financial indicators are available here.