AKIPRESS.COM - Mongolia is now ranked at 81 in Doing Business 2020 by World Bank Group, the 17th in a series of annual studies investigating the regulations that enhance business activity and those that constrain it, Montsame reported.
Governments of 115 economies around the world launched 294 reforms over the past year to make doing business easier for their domestic private sector, paving the way for more jobs, expanded commercial activity, and higher incomes for many, according to the World Bank Group’s Doing Business 2020 study.
This latest edition of the study documents reforms implemented in 10 areas of business activity in 190 economies over a 12-month period ending May 1, 2019. The goal of the Doing Business series is to provide objective data for use by governments in designing sound business regulatory policies and to encourage research on the important dimensions of the regulatory environment for firms.
In terms of regulation of employment, the World Bank report states that, in the Asia and the Pacific region and income group, Mongolia allows the use of fixed-term contracts for permanent tasks with no limit on their renewal.
Other rankings on Mongolia in the Doing Business report include 78.2 percent in ‘Dealing with Construction Permits’ category, ranking at 29th and a score of 80 in ‘Getting credit’ to place at 25th ranking. Also, Mongolia was ranked at 25th place in ‘Protecting Minority Investors’ category by gaining 74 points. The report indicated that Mongolia made enforcing contracts easier by reducing the fees that are advanced by the plaintiff to enforce a judgment this year.