Fostering Economic Growth in Mongolia .

With underdeveloped laws and regulations, Mongolia has had to make great strides in tax policy and reform to foster economic growth. The USAID Mongolia Business Plus Initiative (BPI) strengthened the private sector’s role in the country’s economic growth, developing laws and procedures to improve the legal and institutional environment in which businesses formed and expanded. BPI also enhanced professional business associations and increased foreign and domestic private sector investment to make Mongolia’s private sector more competitive. Other project activities focused on improving the financial sector’s capacity and enabling environment, in part, by developing a strong financial market structure and regulatory infrastructure enforced by a capable, independent regulator.