By: Tselmuun Chinuukhei
The Law on the Prohibition of Monopolistic Activities and Unfair Competition Practices, sometimes known as the Antimonopoly Law, is the main piece of antitrust legislation in Mongolia. The legal basis for stopping and dealing with anti-competitive behavior in the nation is established by this statute.
A variety of actions that limit competition and abuse market dominance are prohibited by the Antimonopoly Law. Monopolistic, anti-competitive, and unfair business practices are a few of them.
Mongolia had been trying for many years, and the country adopted a new, transparent legal system that prevented government officials from taking bribes, but it had a blind side. Although the legislative framework aimed to end corruption, it was not entirely successful in implementing it. Public outrage erupted when high-level Mongolian officials were revealed to hold undisclosed assets, including millions of dollars in cash and property.
As Mongolia's international reputation grew, both government and non-government organizations worked to combat corruption. During the COVID-19 pandemic in 2020, Mongolia implemented e-governance; significantly, electronic services reduce lower-level corruption by eliminating interactions with bureaucrats. While these efforts have been made, Mongolia still ranks near the bottom of international corruption indices.
Sources:
Lkhaajav, Bolor. “Interview With Dashdavaa Zandraa, Mongolia’s Anti-Corruption Chief”. The Diplomat, Feb. 2022.
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