For the 20th year in a row, the Government of Mongolia and the Mongolian National Chamber of Commerce and Industry (MNCCI) have organized an online event to rank Mongolia's top 100 companies.

The ranking of the top 100 enterprises includes the Ministry of Finance, the General Department of Taxation, the General Department of Customs, the General Department of Social Insurance, the General Department of State Registration, and the official data, reports, and figures of the National Statistics Office. The five main indicators are taxes, social security contributions, profits and assets.

TOP-100 BUSINESS ENTITIES BY SECTOR:

Trade and services 28

Mining and quarrying 24,

Oil supply 10,

Construction and roads 9,

Food production 7,

Banking and finance 6,

Communications 6,

Heavy industry 5,

Electricity and heat production, water supply 2,

Transport and logistics 1,

Light industry 1

TOP 10 PLACES OF TOP 100 COMPANIES IN 2020:

Erdenet Mining Corporation,

Erdenes Tavan Tolgoi JSC,

Oyu Tolgoi LLC,

Khan Bank

Energy Resources LLC,

Ulaanbaatar Railway,

Trade and Development Bank

TTGVCU LLC,

Golomt Bank

APU.

Erdenet, a state-owned enterprise that leads the top 100 enterprises, is included in the list for 19 of the last 20 years and paid 743.9 billion MNT in taxes last year. In 2020, the plant produced 11,700.00 tons of copper concentrate.

TOP 100 BUSINESS ENTITIES

87 are limited liability companies, 9 joint stock companies, 2 state-owned joint stock companies and 2 state-owned companies.

Last year, Mongolia's GDP shrank by 5.3 percent. Mining, quarrying, services, transportation, telecommunications, and wholesale and retail trade declined. This has led to a decline in GDP.

Foreign direct investment fell 29 percent, while according to the General Department of Taxation, 27,000 businesses closed. 132 thousand companies submitted tax returns, but 98 thousand or 74.2 percent of them submitted X reports. For businesses, 2020 has been a challenging and uncertain year with historic challenges and uncertainty. According to risk analysts at the World Economic Forum, the current economic crisis caused by the spread of the coronavirus is the worst since World War II, according to the Mongolian National Chamber of Commerce and Industry.