The Government of Mongolia and the Mongolian National Chamber of Commerce and Industry (MNCCI) unveiled the country's Top 100 Enterprises of 2025. Here's a closer look at the contribution these corporate heavyweights make to Mongolia's economy.

🔄 In Brief

Last year, the combined sales revenue of the TOP-100 enterprises rose 19.7% year-on-year to ₮65.7 trillion. As a result, their revenue reached the equivalent of 73% of Mongolia's GDP, up 4 percentage points from the previous year. Meanwhile, the amount of taxes paid by these companies increased 5.2% to ₮8 trillion, accounting for 30% of total tax revenue collected by the state.

• 📉 Workforce: Despite growth across most indicators, the total number of employees at the Top 100 enterprises declined by 2,800 to 84,700. This may be partly explained by the fact that the 19 companies newly added to the ranking employed fewer people than the 19 companies that dropped out.
• 🏬 Trade Takes the Lead: Historically, mining companies have dominated Mongolia's TOP-100 list. This year, however, trading companies outnumbered mining firms by 2, reaching a total of 27 companies in the ranking.

⭐️ Inside the TOP-10

Among the top 10 companies, 4 moved up in the rankings, 2 slipped, and four maintained their positions. Oyu Tolgoi retained the No. 1 spot for a fourth consecutive year, leading all companies in revenue, taxes paid, workforce size, and profitability. Mongol Alt (MAK) ranked second, while Khan Bank (KHAN) secured third place.

⚡️ Biggest Movers

The companies posting the largest gains in this year's ranking included Altangadas Trade LLC, which climbed 21 places, Tavan Bogd Foods Pizza LLC, up 18 places, and both Khan Altai Resource LLC and Netcapital Finance Corporation NBFI LLC, which advanced 17 positions each.

Looking Ahead… That wraps up this year's overview of Mongolia's TOP-100 enterprises, the country's corporate heavyweights. It will be interesting to see how the rankings evolve next year. Which company do you think has the greatest potential to climb the list? 🤔