The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Mongolia  
Rank: 89 · Score: 31.3  

Basic facts        
Population (millions) 3.4   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 16.1   M&A volume (quartile) Bottom
GDP per capita (US$) 4,730.8   Venture capital investments (quartile) Bottom
GDP growth (per cent) 4.5   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 89 30, 31, 33, 33, 36 31.3
1 Economic Activity 105 25, 19, 16, 18, 20 58.4
2 Depth of Capital Market 94 24, 27, 28, 30, 31 13.3
3 Taxation 74 61, 62, 58, 55, 51 87.7
4 Investor Protection and Corporate Governance 58 71, 69, 66, 67, 67 66.4
5 Human and Social Environment 91 36, 36, 36, 35, 34 25.7
6 Entrepreneurial Opportunities 94 31, 32, 31, 32, 31 35.0


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Mongolia  
Asia
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Russian Federation 88.0 35.5 103.3 9.8 37.0 69.2
Sri Lanka 66.4 31.9 65.1 63.8 24.5 41.6
Azerbaijan 71.7 10.6 103.3 95.0 27.5 39.2
Mongolia 58.4 13.3 87.7 66.4 25.7 35.0
Armenia 57.9 6.4 102.4 78.8 32.1 41.5
Kyrgyzstan 55.8 8.1 112.2 62.9 20.0 33.5
Cambodia 71.2 10.2 89.6 41.9 21.2 22.1
Last updated: 4 Nov 2023