Prime Minister of Mongolia Zandanshatar Gombojav met with members of the Economic Development Board under the Prime Minister on August 5, 2025.
At the outset of the meeting, Prime Minister Zandanshatar underscored the vital role of the private sector in shaping foundational reforms aimed at improving the business environment and attracting investment, emphasizing the need for close cooperation with taxpayers, scholars, and researchers—particularly in reforming budget and tax policies. The Prime Minister announced that the Government is preparing several key draft legislative proposals, including the Comprehensive Tax Package Law and the Law on Supporting Wealth Creators, to be submitted to Parliament in the upcoming autumn session.
President of the Mongolian National Chamber of Commerce and Industry (MNCCI), Lkhagvajav Baatarjav, noted, “Article 6.2 of the Constitution of Mongolia mandates that 'the state policy on use of the natural wealth shall be based on the long-term development policy and aim to ensure rights of each citizen in current and future generations to live in healthy and safe environment, and to fairly and equitably distribute benefits from land subsoil wealth by accumulating them into the National Sovereign Wealth Fund.' It has become necessary to provide a clear explanation of this provision to investors.”
Chairman of the Board of the Business Council of Mongolia, Tumentsogt Tsevegmid, remarked, “Creating a legal environment that reflects both domestic and international investor needs and incorporates global best practices will increase investor interest in Mongolia.”
The President and CEO of “Mongolyn Alt” (MAK) LLC, Tselmuun Nyamtaishir, highlighted longstanding challenges in the mining exploration sector stemming from rigid regulations, and stressed the need for more flexible and transparent legal frameworks to facilitate business operations.”
Board members also expressed concerns about current distortions in the social insurance system and the unequal implementation of the Value-Added Tax Law, recommending legal reforms to address these issues and improve fairness for businesses.
Prime Minister Zandanshatar stated, “The voices of business leaders, professional associations, and researchers must be reflected in decision-making and legal reform. The active engagement of members of the Economic Development Council will be key to this process. Therefore, the Government has resolved to institutionalize the Board as a permanent body.” Prime Minister Zandanshatar further instructed Minister of Finance Javhlan Bold to present upcoming legislative drafts to Council members for feedback and to ensure transparency by reporting about the reasons and justifications for rejected proposals. “The Board’s recommendations must not remain at the level of discussion—they must translate into policy decisions and concrete actions,” the Prime Minister concluded.
Representatives from the MNCCI, the Business Council of Mongolia, the American Chamber of Commerce in Mongolia, leading business enterprises, and scholars in finance and economics attended the meeting.

Published Date:2025-08-06