In Mongolia, citizens' economic freedom is guaranteed by Articles 16 of the Constitution, which obligates the State to protect and restore these rights in case of violations. However, there is currently no commonly shared metric to measure the implementation of economic freedom, highlighting the need for such frameworks. Additionally, outdated paradigms from the centrally planned economy still dominate thinking, necessitating a shift toward more progressive concepts. A dedicated working group focused on enhancing economic freedom and competitiveness in Mongolia's business sector must address several critical barriers. Chief among these are regulatory burdens that create complex and inconsistent frameworks, deterring investment and complicating business operations . Additionally, a weak legal framework for property rights and contract enforcement creates risks for investors and undermines confidence in the business environment . Access to finance remains a significant challenge, with limited credit options and high-interest rates restricting business growth and innovation. By tackling these issues collaboratively, the working group can promote a conducive environment for business development and economic growth in Mongolia.

The working group aims to identify economical issues affecting BCM membership and develop strategies that benefit both members and the broader business community. Key outputs will include action plans and position papers prepared in collaboration with the BCM Executive Committee. 

The group will provide input to the BCM Executive Committee and secretariat to support:

• Formal advocacy
• Political engagement
• Partnership development
• Public education and media outreach