Top 100 enterprises of 2019 revealed

The government and Mongolian National Chamber of Commerce and Industry announced the Top 100 Mongolian enterprises of 2019 on Wednesday through a live TV broadcast.

The 19th series of the Top 100 Mongolian Enterprises ranked businesses based on five indicators: annual revenue, tax contribution to state revenue, number of employees paying social insurance premiums, net profit and total assets. All of the data was collected from the Ministry of Finance, General Taxation Office, General Social Insurance Office, National Statistics Office, and Financial Regulatory Commission.

While Erdene Mining Corporation, Erdenes Tavan Tolgoi JSC and Oyu Tolgoi LLC were at the top of the ranking, Uniservice Solution LLC, Tavan Bogd Foods LLC and Blast LLC barely made it into the top 100.

The best performing 100 enterprises earned 34.3 trillion MNT in sales revenue in 2019, which is 3.4 trillion MNT higher than in 2018. Their total revenue accounted for 93 percent of the Mongolian GDP.

In terms of tax payment, these companies paid 6.3 trillion

MNT in taxes, surging by a whopping 54 percent yearoveryear. This made up 65 percent of total tax revenue to the state budget, also up by 15 percentage points.

The number of employees rose by 6,000 people to stand at 89,000 employees. This is equal to eight percent of total jobs in the country and generated 27 percent of social insurance premiums.

Top 10 enterprises of 2019

1. Erdene Mining Corporation

2. Erdenes Tavan Tolgoi

3. Oyu Tolgoi

4. Khan Bank

5. Energy Resources

6. NIK

7. Golomt Bank

8. Ulaanbaatar Railway

9. MAK

10. TTJVCo