Tax Reform Package to Reduce Tax Burden by MNT 2.7 Trillion www.montsame.mn

The tax reform package will gradually reduce the tax burden by a total of MNT 2.7 trillion.

Of this amount, the tax burden on citizens will be reduced by MNT 2 trillion, while the burden on business entities will decrease by MNT 700 billion, according to information provided by the Ministry of Finance and the General Department of Taxation during a meeting on the tax reform package.

Under the revised draft law, the corporate income tax brackets will be adjusted, imposing a 15 percent tax on annual income between MNT 6 billion and MNT 10 billion, and a 25 percent tax on income exceeding MNT 10 billion. The simplified tax threshold for micro and small businesses will be raised to MNT 400 million, allowing them to pay a 1 percent tax.

In addition, the threshold for small and medium-sized enterprises to receive a 90 percent tax refund will be set at MNT 2.5 billion. For companies with outstanding debts, 20 percent of future incoming revenue in bank accounts will remain unseized. Businesses will also be allowed to defer VAT payments at customs for up to two months, and the deadline for correcting tax reports will be extended by one to two years.

For citizens, VAT paid on purchases of up to MNT 500,000 per month will be refunded in full, 50 percent for purchases between MNT 500,000 and MNT 1 million, and 20 percent for purchases exceeding MNT 1 million. Additionally, 100 percent tax relief will be provided on the monthly income of up to MNT 500,000 for all employed citizens.

The reform will also grant tax deductions of up to MNT 15 million to citizens who purchase their first home in rural areas or buy energy-efficient housing.

EU–Mongolia Cooperation on Green, Sustainable Investment Strengthens www.montsame.mn

Deputy Prime Minister Dorjkhand Togmid participated in the Mongolia–European Union Investors Roundtable held in Brussels, where he met with European policymakers, financial institutions, and investors to discuss supporting Mongolia’s energy transition and expanding opportunities for European investment in the country. The event was organized within the framework of the European Union’s Global Gateway initiative.

During the meeting, the Mongolian side highlighted the country’s vast potential in renewable energy and expressed its interest in working closely with international partners to implement energy sector reforms, one of the government's priority objectives. The participants also exchanged views on expanding cooperation in renewable energy, infrastructure, and sustainable financing, as well as on implementing concrete investment projects.

Deputy Prime Minister Dorjkhand noted that during the first Mongolia–European Union Investment and Business Forum held in Ulaanbaatar last year, the European Investment Bank signed a Memorandum of Understanding with the Government of Mongolia to provide financing of up to EUR 1 billion to support the country’s green transition. Within this framework, the sides have been cooperating to attract European companies to participate in renewable energy and modern energy infrastructure projects.

On the sidelines of the event, Deputy Prime Minister Dorjkhand also held meetings with Peter De Roover, Speaker of the Chamber of Representatives of the Belgian Federal Parliament, and Jozef Síkela, European Commissioner for International Partnerships of the European Commission. The parties exchanged views on expanding cooperation between Mongolia and the European Union, as well as between Mongolia and Belgium, particularly in trade and investment, renewable energy, rare earth elements, tourism, and digital infrastructure.

The sides also discussed opportunities to cooperate with European partners in strengthening Mongolia’s energy security, including through the introduction of advanced solutions such as battery energy storage technologies.

Oyu Tolgoi Management Fee Reduction Talks to Be Finalized in March www.montsame.mn

The Ministry of Industry and Mineral Resources announced that negotiations to reduce the management fee of the Oyu Tolgoi Project are expected to be finalized within March.

A working group tasked with lowering the management fee of the Oyu Tolgoi project, established under Resolution No. 68 of the Prime Minister of Mongolia, held a meeting with representatives of the investor, Rio Tinto, on March 12, 2026. During the meeting, both sides continued discussions on proposals previously exchanged through official channels.

The investor side presented a revised proposal to the Mongolian side; however, it did not meet Mongolia’s requirements. The parties therefore agreed that the investor would further improve its proposal and present new calculations aimed at meeting the Mongolian side’s demands in the near future.

The two sides agreed to conclude the negotiations within this month.

Mongolia, U.S. to Mark 40th Anniversary of Diplomatic Relations Next Year www.montsame.mn

Mongolia and the United States will mark the 40th anniversary of diplomatic relations in 2027.

Diplomatic relations between Mongolia and the United States were officially established on January 27, 1987, when Mongolia’s Permanent Representative to the United Nations, Nyamdoo Genden, and U.S. Secretary of State George Shultz signed a memorandum of understanding. Later, the U.S. Embassy in Ulaanbaatar opened on April 17, 1988, and the Embassy of Mongolia in Washington, D.C. opened in March 1989, strengthening relations between the two countries.

In preparation for the anniversary, Mongolia and the United States aim to enrich their strategic third neighbor” partnership with economic content and to promote cooperation focused on practical results. This was discussed at a meeting of Deputy Prime Minister and Minister of Economy and Development Enkhbayar Jadamba with U.S. Ambassador to Mongolia Richard Buangan.

During the meeting, the minister introduced Mongolia’s current state of key economic sectors, macroeconomic indicators, and the government policies and ongoing efforts aimed at ensuring stable economic growth and improving the business and investment environment.

He also spoke about efforts to increase energy capacity and expand key economic infrastructure, as well as opportunities for cooperation. The discussion also covered the importance of expanding cooperation with North America, particularly in intensive livestock farming and the development of the meat industry, to improve the competitiveness of agricultural goods under the interim trade agreement with the Eurasian Economic Union and its member states, and to promote value-added production in the sector.

The parties also reviewed the Second Compact Agreement between the Mongolian government and the Millennium Challenge Corporation (MCC) of the United States, which aims at increasing Ulaanbaatar’s water supply. They discussed the possibility of establishing a third compact agreement.

In addition, the two sides exchanged views on cooperation in civil aviation, renewable energy, critical minerals, artificial intelligence, and clean energy.

According to a 2023 U.S. study, about 50 thousand people of Mongolian origin live in the United States, of whom about 30 thousand are registered as Mongolian, and 75 percent were born in Mongolia and later immigrated to the U.S. 

'Khurdan' Service Points Deliver Government Services in 31 Countries www.montsame.mn

Government services are being delivered through 596 “Khurdan” service points located across Mongolia, including in all 21 aimags, 330 soums, two border checkpoints, and 47 diplomatic missions in 31 foreign countries.

Through these service points, 451 types of services from 43 government institutions are provided in operator-assisted mode, enabling citizens to quickly obtain frequently required references, certificates, and other public services, according to the Regulatory Agency of Government Digital Services.

The agency, through its branches in the capital city and all 21 aimags, has been implementing the digital transformation of public services in stages, introducing advanced technologies and international best practices.

Mongolia Tops Chess Gender Equality Index www.montsame.mn

 The International Chess Federation has released a new report on the Gender Equality in Chess Index (GECI), which measures equality in participation between female and male players in chess.

The index evaluates the level of gender equality among national chess federations worldwide on a scale from 0 to 100 points. It is calculated based on three main indicators: participation, performance, and progress.

According to the study, Mongolia ranked first in the world for the participation and development of women chess players among 119 member countries registered with FIDE.

Nearly 40 percent of Mongolia’s active FIDE-rated chess players are women, which is a figure higher than the global average. Mongolia topped the index with 89.26 points, followed by Sri Lanka (86.99 points) and Uganda (84.62 points).

Meanwhile, the United Arab Emirates made the biggest improvement, climbing 73 places from 77th to 4th. The Maldives also rose significantly, moving up 50 places to rank 13th.

FIDE uses the GECI index as a statistical tool to help chess federations worldwide increase women’s participation, develop policies, and set development goals. Although women’s participation in chess has increased, the number of female players worldwide remains relatively low compared to the total number of players, and FIDE continues to implement international programs aimed at reducing this gap.

Mongolia’s Orkhon Valley among CNN’s ‘Best places to visit in 2026’ www.heraldnews.com

 When CNN releases its Best Places to Visit, the list is more than inspiration – it is a declaration of the world’s most extraordinary destinations. This year, the spotlight falls on a place that seems untouched by time: the Orkhon Valley of Mongolia. “Here, far from the markers of civilization such as traffic and reliable internet access, it feels like one of the rare places on earth where you can actually get away from it all,” CNN writes.

The Orkhon Valley is nothing less than the spiritual heart of Mongolia – a vast, open cradle of nomadic civilization. Endless horizons stretch across lush grazing lands where wild horses roam freely, and where nomads have gathered for centuries to ride, compete, and preserve traditions older than written history. To experience this land is to understand Mongolia itself – and there is no better way to do so than on a transformative Mongolia tour, crossing the country’s immense distances by road. With meticulously designed routes by Explorer.Company, travelers can reach the Orkhon Valley on journeys of varying lengths, whether through a guided expedition or a self-drive adventure with premium Mongolia car rental options that invite travelers to truly drive in Mongolia.

The South, Seen Through a Filmmaker’s Lens
Documentary filmmaker Emad Rashidi has traveled the world, yet it was Mongolia that claimed his imagination. For Explorer.Company, he created the iconic South Mongolia Gobi Tour – a route where every mile feels cinematic. On the 22-day expedition, the journey unfolds into the Orkhon Valley itself. Travelers drive along raw, untamed tracks that follow the restless Orkhon River, carving through a landscape of rising mountains and widening valleys.
Ancient lava fields – silent witnesses to volcanic eras long past – give way to a dramatic canyon, where Mongolia’s highest waterfall crashes down sheer cliffs in a display of elemental power. When engines fall silent at day’s end, adventure continues on horseback, riding along the riverbanks where legends were born. The South Mongolia Gobi Tour is available in 9-, 13-, and 22-day itineraries and can be booked at: https://explorer.company/tour/gobi-tour/.

Northward into the wild
Those drawn north are rewarded with a different kind of awe. Designed by Mongolian photographer Khasar Sandag, on North Mongolia Khusvgul Loop travelers encounter nomads, reindeer herders, crystal-clear lakes, rolling dunes, and the deep green silence of taiga forests. Designed with a photographer’s precision, the route celebrates symmetry, light, and bold natural color. Here too, the Orkhon Valley emerges as a defining highlight – a moment where landscape and history collide.
Offered in 12-, 16-, and 22-day versions, this northern expedition reveals the country’s stark beauty in every season and is especially compelling as a Mongolia winter tour, when frozen rivers and snowbound plains transform the land into something almost mythic. It is a powerful invitation to travel to Mongolia at its most raw and authentic. More details at: https://explorer.company/tour/north-mongolia-taiga-loop/.

Five-star 4×4, edge-of-the-world freedom
Across deserts, valleys, forests, and frozen steppe, Explorer.Company delivers uncompromising adventure with refined execution. Aboard the luxuriously equipped 4×4 TOYOTA Land Cruiser 78 Troopy, guests glide effortlessly across the impressive terrain. Built for long-distance adventures, the vehicle features dual diesel tanks, seating for four, a heated aluminum rooftop tent, and much more. The tour features a blend of hand-picked lodges, ger camps, and wilderness stays, combining rugged exploration with comfort. All accommodations blend seamlessly with Mongolian culture while offering an authentically luxurious experience. In addition to the Shangri-La Ulaanbaatar – a true gem overlooking the capital – travelers stay at the unique lodges, which offer spectacular views of the vast landscape, gently interrupted by softly flowing rivers and winter wonderlands. Guided by local experts, the route includes cultural visits, photography opportunities, and immersive encounters curated by Khasar Sandag.

How the New Gulf War Is Impacting Mongolia www.thediplomat.com

Countries like Mongolia, despite being distant from the conflict, are already feelings its impact on their economic activities, not to mention how the war disrupts future possibilities. 

The new Gulf War, which started on February 28 with the United States and Israel attacking Iran, is sending geopolitical shockwaves across continents. The actions of large state actors in situations like these severely limit the capacities and the opportunities of small states that rely on stability and soft power. Countries like Mongolia, despite being distant from the conflict, are already feelings its impact on their economic activities, not to mention how the war disrupts future possibilities.
Most immediately, the war has impacted Mongolians living in the Middle East. When the Israeli-U.S. strikes began, the Foreign Ministry of Mongolia urged Mongolian nationals in the region to get in touch with the Mongolian embassies in Egypt, Kuwait, Turkiye, and the United Arab Emirates (UAE). 
On February 28, Mongolia’s Foreign Minister Battsetseg Batmunkh stated publicly that there were total of 281 Mongolian citizens currently residing in  the Middle East, specifically in the UAE (80), Egypt (45), Israel (40), Kuwait (38), Bahrain (33), Saudi Arabia (23), Qatar (19), Oman (2) and Jordan (1). The Office of the Foreign Ministry also highlighted there were no Mongolian citizens known to be in Iran. 
As the war escalated with Iran’s counter-strikes on U.S. allies in the Middle East, Mongolian nationals in the region sought to return home. 
On March 6, the Foreign Ministry of Mongolia released an official statement:
Mongolia is deeply concerned that the situation in the Middle East has severely deteriorated, with armed conflict escalating and resulting in the loss of many precious lives. These developments not only seriously undermine the norms of international law but also pose a grave threat to regional and global peace and security. As tensions intensify, the space for diplomatic engagement between the parties continues to narrow, and prospects for constructive dialogue are reaching an impasse.
Mongolia called for a peaceful and open dialogue. 
Following the official statement, on March 10, the Zandanshatar Gombojav government announced an effort to safely bring Mongolian citizens home via Dubai-Ulaanbaatar flights conducted by Mongolian Airlines or MIAT. As of March 11, the government announced that 91 Mongolian citizens had returned home safely. 
In the last several years, Mongolia has been strengthening its bilateral relations with the Middle Eastern countries, particularly with the Gulf states. To Mongolia, the region represents a new frontier of partners with financial and investment capabilities. These relationships mean diversified investment options for Mongolia. 
On the bilateral level, Mongolia and Iran’s historical ties were just recently refreshened. During talks between their respective foreign ministries in May 2025, Ulaanbaatar and Tehran expressed the desire to expand their relations, particularly in the economic field. Mongolia was seeking deeper connectivity with Tehran via the North-South Transport Corridor (INSTC), which would allow Mongolia  to send its exports to the Persian Gulf using Russia and Central Asian connections. 
The current war interrupts those possibilities. While Mongolia is not expected to alter its diplomatic approach to any of the countries involved, certain economic engagements – not only with Iran, Israel, and the Gulf states, but presumably with a newly distracted United States – will need to be placed on the backburner, and not by Mongolia’s choice. 
As a small state with limited military power, Mongolia has refrained from becoming involved in most of the Middle East conflicts and complications. However, when the Israel-Hamas war escalated in 2023, Mongolia’s position became more clear: its foreign policy and global engagements support peaceful dialogue and negotiations. 
Mongolia has voted in the United Nations in favor of demanding ceasefire in Gaza as well as offering full support to the UNRWA, the United Nations Relief and Works Agency for Palestine Refugees. Watching the escalation of the humanitarian catastrophe in Palestine, Mongolia voted in favor of demanding that Israel uphold its legal and humanitarian obligations. In 2024, Mongolia voted in favor of the U.N. General Assembly resolution ES-10/23, which included Palestine’s bid for full membership. Mongolia views these actions as part of its own international obligation to speak up for and support peace and security around the globe.
The current Gulf War certainly dampens Mongolia’s optimism in the Middle East, especially as the conflict escalates. Surely when Mongolia joined the Trump-led Board of Peace as founding member in Davos in January the government did not expect the United States and Israel to start a war with Iran. 
As of now, Mongolia is carefully watching how each nation is responding to the geopolitical shockwave and will continue to support the end of the conflict through dialogue. 

By Bolormaa Lkhaajav

Two Interpol-wanted suspects arrested in Kazakhstan www.gogo.mn

Two suspects wanted under Interpol Red Notices were located and detained in Kazakhstan during a special operation on March 10, 2026.

The suspects, identified as M and Ts, were wanted internationally for separate criminal cases. M had previously been convicted multiple times and is accused of intentionally causing serious bodily harm in 2024. Ts allegedly fled abroad while under investigation for large-scale fraud.

Their location was identified through international police cooperation, and they were detained in a joint operation involving Mongolian authorities and Kazakhstan Interpol. 

Mongolia in $500 Million Debt Offering and Concurrent Tender Offer www.clearygottlieb.com

Cleary Gottlieb represented the government of Mongolia in a Rule 144A/Reg S offering of $500 million 5.95% bonds due 2032 and its concurrent tender offer for its outstanding dollar-denominated 5.125% bonds due 2026, 8.65% bonds due 2028, and 7.875% bonds due 2029.

HSBC, Morgan Stanley, and Standard Chartered Bank were joint lead managers and dealer managers for the transactions. The transactions closed on March 9, 2026, and the new bonds were listed on the Singapore Stock Exchange.

The issuance allowed Mongolia to refinance a substantial portion of its debt maturing in 2026 and 2028, and also extended the maturity profile of a portion of its indebtedness.

The Cleary team included partner Shuang Zhao, counsel Robert Williams and Daisy Yan, and associate Jitong Liu. Partner Matthew Brigham and associate Michael Hughes advised on tax matters.