Mongolia retains high ranking as a country to conduct business

There was good news and bad
news with the release of the annual report on conducting business in
Mongolia, entitled, “Doing Business 2009.” 

Issued by IFC and the World
Bank, the report identifies reforms in business regulations and climates
for those companies conducting business internationally. 

Mongolia found its global ranking
dropping from 55th last year to 58th in 2008.
However, the country maintained its 2007 seventh place in the East Asia
& Pacific region, well ahead of China (83), Vietnam (92), Cambodia
(135) and the Lao PDR (165).  

More good news found that Mongolia
continued to outperform most countries of the former Soviet Union, including
Russia (120), Kazakhstan (70) and Uzbekistan (138).  

Doing Business ranks economies
using ten measures of business regulation that evaluate the time and
cost to meet government requirements in starting and operating a business,
trading across borders, paying taxes, and closing a business. 

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