Mongolia - Алтанбулаг чөлөөт бүс
Altanbulag Free Zone is on the border with Russia. It was established with purposes of attracting tourism and investment in Mongolia. The zone claims that 108 entities have registered in Altanbulag. However, only a few of them are actively running their operations due to the poor infrastructure.
Brief History of Altanbulag Free Zone
The Ministry of Industry and Trade established the Governor`s Office of the “Altanbulag” Free Trade Zone. This was in connection to the formation of a legal framework. Its aim to establish free zones in Mongolia in order to attract foreign and domestic investments. Also to properly decide the directions and planning of the works to be implemented in the free zones. In addition, to commence their implementation.
The establishment of the Governor’s Office was essential for determining the directions of development. Plus building the free zones, starting their operations, refining the relevant laws, and perfecting the relevant regulations as the concept of a free zone is completely new for our country.
In 2002, the structure of the Governor`s Office of the “Altanbulag” Free Trade Zone was approved.
Law on Free Zones relating to Altanbulag Free Zone
When the Law on Free Zones was developed and adopted in 2002. The concepts of establishing the infrastructure of the free zone with the state budget funds, signing contracts with investors in the trade, production and service sectors, and implementing the management by the Governor`s Office of the free zone were complied with, and the legal framework of the free zone was formed under the scope.
In 2003, it was decided to take management and organizational measures to commence the construction works in the “Altanbulag” Free Trade Zone. To attract foreign and domestic investments and to intensify the development of master plans and investment projects. It started its operation by developing the General and Master plans of “Altanbulag” Free Trade Zone.
This task was jointly developed by the JV of “Mips” LLC and “Ideal Group” LLC in 2003. The General Plan of Altanbulag Sum was approved by the Citizens` Representatives Council of Selenge province. Then the General Plan of the Free Zone was approved by the Cabinet meeting and handed over to the Ministry of Industry and Trade of Mongolia.
By Resolution No. 126 of the Government of Mongolian dated on 2015, the structure and number of employees of the Governor’s Offices of the “Altanbulag”, “Zamyn-Ude” and “Tsagaannuur” free zones were newly approved.
In 2015, the Law on “Free Zones” was amended and restated.
Altanbulag town
Altanbulag is a small, peaceful border town in the Selenge Province of Mongolia. It is located just 24 kilometers east of Sukhbaatar, the capital of the province. On the other side of the border is the Russian city of Kyakhta.
Altanbulag has a long and rich history. It was a major trading center during the Qing Dynasty, and it was the site of several important historical events, including the signing of the Treaty of Kyakhta in 1915, which granted Mongolia limited autonomy.
In recent years, the Mongolian government has designated Altanbulag as a Free Trade Zone. This is an area where businesses can operate without being subject to certain taxes and regulations. The goal of the Free Trade Zone is to promote trade and economic development between Mongolia and Russia.
In addition to its historical and economic significance, Altanbulag is also a popular tourist destination. The town is home to several historical sites, including the abandoned Kyakhta Cathedral. There are also several hiking trails in the area, which offer stunning views of the surrounding countryside.
If you are looking for a peaceful and historic town to visit in Mongolia, Altanbulag is a great option. It is a charming town with a lot to offer visitors.