Business


Currency
Tugrug (MNT), 1$ USD was about 1174 MNT as of August, 2006
No limit on foreign currency but must be registered at Mongolian customs. Exchanging bureaus available at most hotels. Some hotels, tourist shops and restaurants accept credit cards(American Express mainly and Visa, Mastercard, Diners Club)

Fiscal year
January 1 - December 31

Main ports
Chinggis Khaan (airport in Ulaanbaatar), Sukhbaatar (railway station on Mongolian-Russian border) and Zamyn Uud (railway station on Mongolian-Chinese border)

Air links
Moscow, Irkutsk (Russia), Berlin, Frankfurt (Germany), Tokyo, Osaka (Japan), Beijing, Huhhot, Hongkong (China) and Seoul (Republic of Korea).

Airport Tax
US $12 is levied on all departing passengers.

Rail links
Irkutsk, Moscow (Russia) and Beijing (China)

Sea access
Tianjin/China (1.344 km) and Nakhodka/Russia (4.037 km)

Public holidays
January 1 - New Year, 3 days in January/February - Mongolian New Year (Tsagaan Sar), June 1 - Mother and Child day, July 11-13 National Holiday (Naadam), November 26 - Independence Day.

Time
Add 8 hours to Greenwich Mean Time

Working hours
09.00-13.00 and 14.00-18.00

Communications
International telephone available in hotels. Country code - 976, area code for Ulaanbaatar - 11, E-mail connections are avalable.

Electric current
The standard voltage is 220 volts/50 HZ. Sockets require a two pin type plug or an adapter.

Weight and measures
Metric System

Visa arrangements
Visa shall be issued by Mongolia Embassies and Diplomatic Missions as well as Honorary consuls of Mongolia. For more information turn to section on Consular Information.

Business Resources
Here are business resources and legal documents related to running a business in Mongolia.

• Certificate of Origin
• Customs Procedures and Regulations for Importation of Goods Into Mongolia
• Foreign Citizens Labor Regulations
• Labor Law
• Mongolian Map
• Mongolian Taxation Guide
• Value Added Tax Law of Mongolia
• Mongolian Business Development Agency
• UB Tour Business Infromation Center
• Bizinfo Center

Mongolia-Canada Business Links
The Canadian Companies that are currently active in Mongolia :

• Ivanhoe Mines Corp.
• Entree Gold Inc.
• AMEC Corp.
• QGX Gold Ltd.
• Erdene Gold Inc.
• International Uranium Corp.
• Cameco Gold Corp.
• BHP World Exploration Inc.
• Can-Asia Drilling Services Ltd.
• Bell Coast Capital Corp. 1-800-570-8733, 1-604-689-1810
• Cascadia Endeavours Inc.
• UGL Enterprises Ltd. 604-683-7361
• Magnum d'Or Recources Inc.
• Canadian Shield Resources
• Planet Exploration Inc.
• Barrick Gold Corp.
• Major Drilling International
• Tyhee Development Corp.
• Bayfield Ventures Corp.

Canadian Exporters to Mongolia

• Praire Agriculture Machinery Institute
• Bourgault Machinery
• Flexicoil (Holland) Machinery
• STEP, Saskatchewan
• NSI Communication System Inc.

Mongolian Exporters to Canada

• Gobi Cashmere Corporation
• Erdenet Carpet (Khivs)
• Textile garment manufacturers
• Mining companies

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