UK Government Pledges Funding for Mongolian Civic Space and Youth Voter Education www.streamlinefeed.co.ke

The British Embassy in Ulaanbaatar has launched a targeted funding initiative to strengthen civic space and youth voter education in Mongolia, reinforcing democratic institutions amid shifting geopolitical dynamics in Central Asia.

The call for proposals, with a strict submission deadline of July 29, 2026, signals a strategic deepening of the United Kingdom's diplomatic footprint in a nation sandwiched between two authoritarian superpowers: Russia and China. The intervention highlights the critical global pivot toward youth engagement as the primary defense against democratic erosion, a strategy closely mirroring governance programs deployed across East Africa.

Strategic Objectives of the Fund

The Foreign, Commonwealth & Development Office (FCDO) grant is specifically designed to counteract the contraction of civil liberties frequently observed in emerging democracies. The project scope mandates actionable, measurable interventions across three core pillars:

• Expansion of Civic Space: Defending the operational environment for independent media, non-governmental organizations, and human rights defenders.
• Civic Participation: Creating institutional frameworks that allow marginalized communities to influence regional and national policy.
• Youth-Centered Voter Education: Developing digital-first, culturally resonant campaigns to combat political apathy among Mongolia's massive youth demographic ahead of future electoral cycles.

The initiative follows high-level diplomatic maneuvers. In March 2026, UK Parliamentary Under-Secretary of State for the Indo-Pacific, Seema Malhotra MP, visited Ulaanbaatar to conduct the second annual Political Dialogue with Mongolia's Deputy Foreign Minister, Gombosuren Amartuvshin. Both leaders explicitly committed to elevating the bilateral relationship to a Comprehensive Partnership anchored in shared democratic values.

The Geopolitical Calculation

London's financial commitment to Mongolian democracy is inextricably linked to broader economic and security imperatives in the Indo-Pacific. Mongolia possesses vast, largely untapped reserves of rare earth elements and critical minerals—commodities essential for the global transition to electric vehicles and renewable energy, currently dominated by Beijing.

By fostering a transparent, democratically robust governance structure in Ulaanbaatar, the UK aims to secure a stable, rule-of-law environment conducive to foreign direct investment. This alignment ensures that as Western mining conglomerates compete for extraction rights—such as the fierce bidding war over Mongolia's Borteeg deposit—they operate within a system insulated from localized corruption and external coercion.

Parallels in African Democratic Development

The UK's methodology in Mongolia mirrors its extensive governance programming across the African continent. In nations like Kenya and Nigeria, the UK FCDO heavily subsidizes civil society organizations tasked with monitoring electoral integrity and mobilizing young voters through digital platforms.

The challenges facing Ulaanbaatar—voter fatigue, disinformation campaigns, and the structural exclusion of youth from legacy political parties—are universal friction points in developing democracies. By prioritizing "youth-centered" education, the British Embassy acknowledges that traditional, top-down civic instruction fails to resonate with a hyper-connected demographic.

As Mongolia navigates rapid domestic political shifts—evidenced by the abrupt March 2026 resignation of Parliament Speaker Uchral Nyam-Osor to pursue the Prime Ministership—the resilience of its civic space remains critical. The UK's targeted grant injection serves not merely as an act of diplomatic goodwill, but as a calculated investment in the survival of a democratic buffer state in a volatile region.

The Judicial Engagement and Transparency (JET) project, funded by the European Union has successfully concluded www.eeas.europa.eu

Closing ceremony marks the successful completion of the Judicial Engagement and Transparency Project (2024-2026), implemented by IDLO in partnership with the Judicial General Council.

The Delegation of the European Union to Mongolia and the International Development Law Organization (IDLO) today held the closing ceremony of the Judicial Engagement and Transparency (JET) Project, marking the conclusion of two years of sustained work to strengthen the relationship between Mongolia's judiciary, media, and civil society.

Launched on 15 July 2024 and implemented by IDLO with the Judicial General Council (JGC) as the primary national partner, the JET Project was designed to address a clear gap identified through surveys and media analysis: a lack of mutual understanding and trust between judicial institutions, journalists, and civil society organizations. Over its two-year lifespan, the project brought together these actors through training, structured dialogue, and joint activities aimed at building the foundations for a more transparent and accountable justice system.

The closing ceremony was opened by remarks from Judicial General Council Chairperson P.Zolzaya, EU Ambassador to Mongolia H.E. Ms. Ina Marciulionyte, and IDLO Country Representative Mr. Charles Bolland. IDLO Programme Lead Ms. N.Odontuya presented the project's overall results, while Intellectual Innovation NGO Executive Director Mr. B.Turbold delivered a comparative analysis of baseline and endline survey findings, illustrating the measurable progress achieved over the implementation period.

The event also featured a two-panel discussion with representatives of partner organizations, reflecting on best practices, lessons learned, and pathways for continued collaboration between the judiciary, media, and civil society beyond the project's conclusion.

Key project results:

• Over 100 presiding judges and court public relations officers completed a "Courts and Media Relations" training course developed with the Judicial Academy, accredited by the Academy's Training Board. The training introduced Mongolia's first Judge-Press Spokesperson model, drawing on best practices from Germany.
• 8 "Journalist Roundtables" brought together representatives from the judiciary, media, and civil society, engaging a total of 277 participants and establishing a new platform for sustained dialogue and collaboration.
• 59 civil society and media representatives completed capacity-building training, resulting in a 47% increase in legal knowledge among CSO representatives and a 30% increase among journalists.
• A pilot Paralegal service deployed 30 legal guides across four courts, providing information, advice, and referrals to 6,462 citizens. Based on the pilot's findings, the Judicial General Council is now exploring the permanent institutionalization of the service within the court system.

Speaking at the ceremony, EU Ambassador H.E. Ina Marciulionyte emphasized the rationale behind the EU's investment in the project:

"Our goal was to foster better mutual understanding between the judiciary, media organizations, and civil society. Surveys clearly indicated that there was a lack of understanding, and even a lack of trust, between these sectors. The project's objective was therefore to bring them together, to open a better dialogue, and to help them understand each other's roles and responsibilities. When you know what others do and appreciate the complexity of their work, trust follows naturally."

Ambassador Marciulionyte noted the concrete shifts in behaviour she observed on both sides: "I am genuinely glad that judges came to understand the importance of communicating with the media and the general public. For journalists and civil society, it was perhaps equally eye-opening to learn how many cases a judge handles and what that responsibility entails. Today, I believe they are meeting somewhere in the middle."

On the broader question of judicial transparency, the Ambassador pointed to the importance of continuity: "We know from experience, including in many European countries - that this is a long process. What matters most is that it is a continuous one."

IDLO Country Representative Charles Bolland echoed this sentiment at the close of the ceremony: "This project has been successful in increasing public trust in Mongolia's judiciary. Strengthening collaboration and mutual understanding between judicial institutions, the media, and civil society has been a key contribution to that result."

Background

The JET Project is part of the European Union's broader support to judicial reform in Mongolia. The EU funds a range of rule of law and justice sector initiatives in the country, reflecting its long-standing commitment to good governance, transparency, and the protection of human rights.

The International Development Law Organization (IDLO) is an intergovernmental organization that works to empower people and enable governments and other authorities to reform laws and strengthen institutions. IDLO has a longstanding presence in Mongolia across multiple rule of law programmes.

Governor Narantsogt Expects Inflation Relief in Late 2026 www.montsame.mn

Governor of the Bank of Mongolia Narantsogt Sanjaa announced the decision of the Monetary Policy Committee (MPC) following its regular meeting held on June 23–24, 2026.

The MPC decided to maintain the policy interest rate at 12%, taking into account current domestic and external economic conditions and the medium-term outlook.

According to the Governor, rising oil and energy prices linked to tensions in the Middle East have contributed to higher global inflationary pressures, increasing risks of higher food prices, transportation costs, and other commodity prices worldwide. Although oil prices have eased in recent days following positive developments in international markets, uncertainty remains regarding the duration of geopolitical tensions and the normalization of oil transportation routes.

National inflation reached 11.2% in May, according to the National Statistics Office. Inflation increased by 4.1 percentage points over the past two months after standing at 7.1% in the first quarter. Food price increases accounted for 2.6 percentage points of the rise, while higher fuel prices contributed 0.7 percentage points. The Governor noted that weak activity in most non-mining sectors, together with tight monetary and macroprudential policies, has helped keep core inflation relatively contained.

Inflation is expected to accelerate to around 12% in June and July before easing from August as supplies of meat and vegetables increase. Assuming no additional supply shocks and improved external conditions, inflation is projected to gradually decline and return to the central bank's target range next year.

Mongolia's economy expanded by 7.9% in the first quarter of 2026, with overall growth forecast at around 5% for the year. Mining contributed 5 percentage points to first-quarter growth, while transportation added 1.1 percentage points. Other sectors contributed a combined 1.8 percentage points, although activity in trade and manufacturing remained weaker than a year earlier.

The Governor noted that major infrastructure projects are expected to accelerate this year, while large-scale power plants scheduled to come online next year should increase production capacity and support non-mining economic activity.

Mongolia recorded a USD 186 million balance-of-payments surplus during the first four months of 2026, driven primarily by strong copper and gold prices and higher mining exports. The current account surplus reached USD 311 million over the same period. Slower growth in consumer imports, supported by recent monetary and financial policies, also contributed to the positive external balance. External financing secured by banks and the private sector continues to support foreign currency inflows.

Money supply growth accelerated to 26.8% in May, with 17.8 percentage points attributable to increases in the banking system's net foreign assets linked to the balance-of-payments surplus. Credit growth has moderated in recent quarters due to the slower expansion of consumer lending, while mortgage and business lending have remained relatively strong, supporting investment and production.

The Governor of the Bank of Mongolia said that inflation is expected to moderate in the second half of the year and stabilize within the central bank's target range in 2027. However, risks remain from weather conditions, livestock disease outbreaks, and geopolitical uncertainties related to the Middle East and the Russia–Ukraine conflict, which could prolong supply-side inflationary pressures.

Taking into account current economic conditions, inflation dynamics, external and domestic risks, and prevailing uncertainties, the MPC decided to leave the policy rate unchanged at 12%. The Bank of Mongolia stated that its policy stance remains focused on bringing inflation back to target over the medium term while safeguarding economic and financial stability. Further policy adjustments will be considered in line with future developments in inflation, economic activity, and the global environment, underscored Governor Narantsogt.

PM Seeks WEF Cooperation on Green Development, Digital Economy www.montsame.mn

Prime Minister Uchral Nyam-Osor met with Alois Zwinggi, President and Executive Director of the World Economic Forum (WEF), on June 24.

At the beginning of the meeting, the Prime Minister congratulated Alois Zwinggi on his appointment as the President and Executive Director of the WEF. He emphasized that Mongolia highly values the organization’s contribution to overcoming global economic challenges, defining development trends, and strengthening cooperation.  

Prime Minister Uchral noted that as geopolitical situations become increasingly complex, strengthening international trust and mutual understanding is more critical than ever. In this context, he highlighted the WEF as a vital platform that promotes dialogue between governments, the private sector, and academic institutions.

He also stated that innovation and digital transformation are crucial for diversifying the economy and increasing competitiveness. Sectors such as artificial intelligence (AI), e-commerce, fintech, and renewable energy are creating new growth opportunities for developing countries. “Mongolia is keen to deepen its cooperation with the WEF in areas such as innovation, green development, mineral resources, energy transition, trade facilitation, and the digital economy,” said PM Uchral.

In January 2025, the two sides signed an agreement to implement the “Strategic Intelligence Platform” project, which supports policymakers and decision-makers with AI-based analysis and data. This agreement made Mongolia the second country in the world to establish such a partnership. Both parties are currently focusing on working closely to bring this project to tangible results.

Mongolia is actively working on an initiative to establish a “Mongolia House” during the 2027 Davos World Economic Forum. The Prime Minister expressed a strong interest in collaborating closely with the WEF to turn this initiative into reality.

Mongolia will host the 17th Session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification from August 17 to 28 this year. The Prime Minister emphasized that Mongolia attaches great importance to expanding cooperation with the WEF within the framework of COP17 and successfully organizing joint events.

A joint event, “YGL Learning Journey Mongolia 2026,” will take place in Mongolia on August 3-7, according to the Media and Public Relations Department of the Government of Mongolia.   

Prime Minister Uchral Invites Global Tech Companies to Invest in Mongolia www.montsame.mn

 A Mongolian delegation headed by Prime Minister Uchral Nyam-Osor participated in the 2026 Annual Meeting of the New Champions, also known as the Summer Davos Forum, held in Dalian, China, from June 23 to 25.

During the forum, Prime Minister Uchral took part in the strategic dialogue titled “Advancing Trade and Market Innovation in Food Systems” and delivered opening remarks. Participants discussed food security, sustainable agricultural trade, the adoption of artificial intelligence and biotechnology in the food sector, and strengthening public-private cooperation to address challenges facing global food systems.

In his remarks, the Prime Minister highlighted Mongolia's “Food Revolution” initiative, which aims to combat soil degradation, expand market access for small and medium-sized producers, and reduce barriers to trade. He also emphasized that under the government's “Liberate” initiative, reforms are being implemented to reduce overlapping regulations and bureaucracy while encouraging private-sector investment in food production, processing, and logistics.

The Prime Minister further invited participants to visit Mongolia, noting that the country will host the 17th Session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification this August.

Prime Minister Uchral also served as a panelist in the discussion “No AI Without Energy,” where he shared Mongolia's perspective on the growing energy demands of artificial intelligence, energy security, infrastructure investment, and long-term development opportunities.

He stressed that artificial intelligence, energy, and digital infrastructure should be viewed not as separate sectors but as parts of a single interconnected ecosystem, emphasizing that their coordinated development is essential for fully realizing the opportunities of the AI era.

The Prime Minister also outlined Mongolia's efforts to establish a legal framework for data center development and invited global technology companies to invest in the country.

Prime Ministers of Mongolia, South Korea Discuss Expanding Strategic Partnership www.montsame.mn

Prime Minister Uchral Nyam-Osor met with Prime Minister of South Korea Kim Min-seok on June 23 on the sidelines of the Summer Davos Forum in Dalian, China.

The two prime ministers noted that the Mongolia–South Korea Strategic Partnership continues to expand across social and economic sectors and discussed plans for cooperation this year, the progress of ongoing joint projects and programs, and future areas of collaboration.

Recalling their meeting during the Mongolia–Korea Joint Forum on Critical Minerals and Mining Investment held in Seoul last year, the two sides noted with satisfaction that the Joint Critical Minerals Research Laboratory, agreed upon during that meeting, has since been established.

The parties also welcomed the fifth round of negotiations on a Mongolia–Korea Economic Partnership Agreement, held in Ulaanbaatar this June, and reaffirmed their commitment to working together toward a mutually beneficial agreement that would boost bilateral trade and investment.

Prime Minister Uchral highlighted the government's efforts to support the private sector, improve the business environment, and reduce regulatory barriers under the “Four Paths to Freedom: Four Liberations” policy framework. He also emphasized Mongolia’s goal of expanding cooperation in the banking and financial sectors.

In this regard, he noted that the proposed Law on Business Freedom, currently submitted to Parliament, would allow foreign banks to operate in Mongolia. As a result, several major South Korean financial institutions, including Kakao Bank, could potentially enter the Mongolian market.

The two sides also agreed to seek a prompt resolution to the stalled project to construct thermal power plants in 10 aimag centers, which was launched in 2019 under bilateral energy-sector cooperation.

Reviewing cooperation in the health sector, the prime ministers discussed launching new projects and programs aimed at introducing advanced South Korean medical practices and improving the quality and accessibility of healthcare services in Mongolia. They also explored opportunities for cooperation in advanced information technologies and digital transformation.

Noting the growing number of travelers between the two countries, both sides exchanged views on measures to further facilitate people-to-people travel.

The prime ministers also reaffirmed their commitment to continuing cooperation within the framework of the United Nations and other international organizations.

Remarks of Ambassador Richard L. Buangan  at the American Chamber of Commerce in Mongolia June Monthly Meeting www.mn.usembassy.gov

Good morning AmCham and thank you for inviting me back to address you and the broader business community on Mongolia’s investment climate.  If there is one thing I have been most proud of these past for years, it’s our partnership – the U.S. Embassy and the American Chamber of Commerce – working together to advocate for the private sector. And what a powerful and productive partnership this has been.

This month is meaningful for us to come before you because we’re going to give you an update on our assessment of the investment climate as well as offer a preview of our upcoming Investment Climate statement.  Here is the BLUF, or bottom line up front:  It’s troubling. The government did not improve the 2025 investment climate. I don’t think there are many people in this room that would disagree with me.

Based on our analysis, which comes from hard data from domestic and international sources, as well as hearing from many AmCham members, and current and potential U.S. investors and businesses present here in UB and around the country, Mongolia remains as nearly uninvestible in 2026 as it was in 2025.

It’s pretty dreary. But I am still cautiously optimistic, particularly given AmCham’s herculean efforts to engage on behalf of the entire business community.  My colleague Michael Richmond will go into more detail later this morning during the panel discussion.

Our collaboration to hold a highly successful and well-attended Freedom 250 American Days in Sukhbaatar Square a few weekends ago demonstrate just how consequential our relationship with AmCham Mongolia is.

This event celebrated the deep, broad fusion of Mongolia and America ranging—from business to culture to sport, from shared histories to comic book heroes.

We could not have done it without AmCham’s networks, resources, and advice. These are qualities that make AmCham the indispensable advocate for the private sector.

Recognizing what AmCham brings to the table and the power of its voice, recent Mongolian governments are now consulting with AmCham. You should all be proud that the government and parliament consider AmCham a critical element in determining legislation and regulations that are not only business friendly but necessary in attracting investment, and growing and diversifying Mongolia’s economy.

AmCham has earned this position through attention to detail; well-argued, transparent analyses; and a demonstrated commitment to being an honest, frank broker on investment and commercial issues that matter to the Mongolian business community.  Most importantly, in my opinion, AmCham listens to its members.  Your membership with AmCham reaps dividends in strengthening an organization that has become an important advocate for the business community.  I give credit to Adiya and his team for all the work they have done in this regard.  So please keep paying your membership dues.

Concerning government and parliament actions—it’s been hard to keep track of the various initiatives from successive governments, and that’s just over the last year. However, from what we have been able to track and analyze, we have many reasons to be “cautiously optimistic.”

I commend the Uchral government and parliament for publicly recognizing the need for reforms to taxation, regulatory processes, licensing, permitting, dispute resolution, and the range of activities making business climates vibrant and prosperous.  But we’re still waiting to see these things to materialize.  Especially waiting for a business environment where permits are issued in days, not months; and where disputes are settled in months, not years.

The Uchral government has followed the path of its predecessors and promised legislation that might deliver these changes; yet the specter of Mongolia as a place where it’s too hard to do business continues to haunt us all. That is the conundrum that continues to perplex my U.S. Embassy colleagues and me.

Little has changed.  Governments and parliaments, as they have for decades, publicly and proudly tout legislation like trophies on a wall, while continuing to come up short with implementation and enforcement. Or they fail to honor the agreements made by their predecessors, nor do they create viable, fair, and transparent paths to resolve disputes.

Members of parliament, debating the Economic Freedom Law and the Investment Law, have rightly demanded proponents of the legislation explain how it will be enforced – how they plan to make officials follow the law and the regulations – in contrast to now where officials from soums to ministries make things up as they go along with absolutely no accountability or recourse.

Drawing on decades of international practice, Mongolian leaders know how to use professional rewards and strict penalties to keep officials compliant with laws and regulations.  So there is no reason for the Mongolian government to hesitate.

Mongolia’s leaders must now implement these proven remedies. Our role is to encourage, even compel, government compliance through consistent, strategic advocacy.  This is where our partnership of AmCham and the U.S. Embassy needs to strengthen and continue.

We can achieve results by delivering clear, concise, and unified arguments during every engagement with officials and legislators.

While this persistent approach requires discipline, sustained, constructive, and candid advocacy is ultimately what secures long-term policy goals.

Let me end on an optimistic but realistic note.  We all know Mongolia has incredible potential. But the reality on the ground remains a tough sell for new capital. Right now, mining drives the entire economy. And while overall GDP growth is hitting over 5% this year, we are still struggling to convert global interest into long-term investment.

Yes, fast-food franchises, convenience stores, and green tech are beating expectations. But broader business growth is hitting a wall. Symbolic laws and streamlined licensing are not enough. To compete globally, and to be an engine of economic growth in Asia, which we all want this country to become, Mongolia needs to move past quick fixes and bandage solutions. It must deliver a predictable legal environment where contracts are fiercely protected.

As we look to the future, let’s remember that the true strength of the U.S.-Mongolia Strategic Third Neighbor Partnership does not lie in government agreements alone, but in the shared determination of the people in this room. Together, the U.S. Embassy and AmCham represent a powerful bridge—one capable of turning economic challenges into commercial breakthroughs. I call on each of you to continue championing the creative, innovative solutions that a modern Mongolian market demands. Let’s continue to lead as the voice for the private sector with bold vision, advocate with unyielding persistence for a transparent business climate, and build a prosperous economic landscape that will endure for generations to come.

Thank you very much AmCham, Happy July 4th, and bayarlaa.

Primary Market Financing Drives Securities Growth www.montsame.mn

Weekly Capital Market and Economic Review
(2026.06.15–2026.06.21)

 
MONGOLIAN STOCK EXCHANGE

A total of 5.3 million securities worth 7.7 billion MNT were traded on the Mongolian Stock Exchange last week. By trading value, Innovation Investment JSC, Khan Bank JSC, Trade and Development Bank, Mongolian Stock Exchange JSC, and Ard Financial Group JSC led the market. During this period, one block trade was executed. Specifically:

• 2.4 million securities of Innovation Investment JSC (QPAY) were traded at a unit price of 271 MNT, totaling 650.4 million MNT.

On the last trading day of the week, Mongolian Stock Exchange indices closed with mixed performance. The TOP-20 index fell by 0.09% to 51,371.42 points, reflecting profit-taking in large-cap stocks. Meanwhile, the MSE A index rose by 0.48%, and the MSE B index increased by 0.11%, indicating continued buying interest in mid- and small-cap stocks. The FTI index also rose by 1.28% to 1,057.61 points, reflecting positive movements in investment fund unit prices.

Market movements suggest that investors have begun selectively reallocating capital from large-cap stocks into mid- and small-cap companies and investment fund products. Overall, index performance indicates a relatively stable market environment dominated not by broad-based selling, but by rotation between sectors and instruments.

SECURITIES MARKET TRANSACTIONS INCREASE 2.4 TIMES, PRIMARY MARKET LEADS GROWTH

According to preliminary data from the National Statistics Office, total securities market transactions in Mongolia reached 797.5 billion MNT in the first five months of 2026, increasing by 465.1 billion MNT or 2.4 times compared to the same period of the previous year. The main driver of this growth was primary market financing, which accounted for around 70% of total transactions. 

Key indicators:

• Total securities transactions: 797.5 billion MNT (+465.1 billion MNT, 2.4x increase)
• Primary market transactions: 551.6 billion MNT (69.2% of total)
• Secondary market transactions: 245.9 billion MNT (+0.3%)
• TOP-20 index: 50,866.82 points, up by 1,293.4 points year-on-year

In terms of structure, corporate bonds accounted for 54.7% of total transactions, making them the largest component, followed by asset-backed securities at 16.3%, corporate equities at 15.2%, and government bonds at 13.6%. This indicates that investors continue to favor fixed-income instruments, while companies remain active in raising long-term financing through the capital market.

The number of traded securities fell to 235.4 million units, down 47.8% year-on-year. Secondary market trading volume also declined by 48.6%, indicating that overall transaction growth has been driven more by high-value primary market financing than by trading activity.

As of May 2026, total market capitalization reached 13.4 trillion MNT, up 9.1% year-on-year, while the TOP-20 index increased by 149.5 points from the previous month, indicating stable growth in major stock valuations. 

From a capital market perspective, the growth in transactions reflects the increasing role of the capital market in financing the economy. However, since most growth is driven by the primary market, secondary market liquidity and trading activity remain weak, indicating the need to expand investor participation and deepen market development.
 

TUGRUG WEAKENS SLIGHTLY AGAINST MAJOR CURRENCIES DESPITE RELATIVE STABILITY

According to data from the National Statistics Office and the Bank of Mongolia, the tugrik showed minor changes against major foreign currencies as of May 2026. The average USD exchange rate reached 3,576.06 MNT, weakening by 3.30 MNT year-on-year and by 2.55 MNT month-on-month. The tugrik also weakened against the yuan and ruble, while it slightly strengthened against the euro compared to the previous month.

Key indicators:

USD: 1 USD = 3,576.06 MNT (−3.30 MNT YoY, −2.55 MNT MoM)

EUR: 1 EUR = 4,175.46 MNT (−144.29 MNT YoY, +1.35 MNT MoM)

CNY: 1 CNY = 525.91 MNT (−30.82 MNT YoY, −3.40 MNT MoM)

RUB: 1 RUB = 48.97 MNT (−4.65 MNT YoY, −2.38 MNT MoM)

Exchange rate movements show that while the tugrik continues to weaken, the magnitude of change remains relatively small. This indicates that there have been no sharp fluctuations in the foreign exchange market and that the exchange rate has remained at a stable level.

On the other hand, exchange rate movements remain a factor directly affecting import costs, corporate foreign payments, and household consumption. In particular, depreciation against the yuan and US dollar may increase import costs, while the slight strengthening of the euro may have a positive effect on transactions linked to European markets.

At present, exchange rate movements remain stable, but the outlook will largely depend on export revenues, foreign currency inflows, and global financial market conditions.
 

MONGOLIA RANKED 67TH IN GLOBAL COMPETITIVENESS INDEX

In the “World Competitiveness Yearbook 2026” published by the International Institute for Management Development (IMD) in Lausanne, Switzerland, Mongolia ranked 67th out of 70 countries with a score of 39.02. Last year, Mongolia ranked 65th out of 69 countries, meaning its position declined by two places this year.

Key indicators:

• Mongolia ranked 67th out of 70 countries with a score of 39.02
• Economic performance and government efficiency indicators declined, while business efficiency improved
• Inflation, policy instability, infrastructure, and access to financing were identified as key negative factors affecting competitiveness
• Foreign direct investment levels, goods export performance, and the share of educated women remain Mongolia’s relative strengths

The report noted that Mongolia’s economic resilience is weak and its services export competitiveness is insufficient. It also highlighted high inflation, debt pressure, skilled labor shortages, and logistics and infrastructure constraints as key challenges for the business environment.

On the other hand, increased investment in the education sector and improvements in labor force and population growth were assessed as positive long-term factors. The share of foreign direct investment in GDP and goods export performance remain relatively strong by international standards.

From a capital market perspective, competitiveness rankings are an important indicator for foreign investors in assessing Mongolia’s business environment, institutional quality, and economic stability. The improvement in business efficiency reflects a recovery in private sector activity; however, inflation, policy instability, and infrastructure weaknesses remain key challenges for long-term investment flows.

Urin.N

Six nations discuss Korean unification at Mongolia forum www.kdtimes.kr

Delegates share a vision of a free, prosperous unified Korea as a catalyst for peace and development in Northeast Asia

Lawmakers, policymakers, academics and youth leaders from six countries gathered in Mongolia to discuss strategies for peace in Northeast Asia and the peaceful unification of the Korean Peninsula.

Delegates from South Korea, the United States, Japan, China, Mongolia and India shared the view that a new, free and prosperous unified Korea could serve as a catalyst for regional peace and development.

They also called for stronger measures to reduce nuclear risks and expand a civil society-led movement supporting Korean unification.

The six-day Mongolia Forum and Workshop on Northeast Asian Peaceful Development and Korean Unification began Friday and concluded Wednesday in Ulaanbaatar.

The Global Peace Foundation, the Mongolian nongovernmental organization Blue Banner and Action for Korea United jointly organized the annual gathering.

The main conference was held at the Mongolian Foreign Ministry and addressed international cooperation for Korean unification, climate change, environmental protection and the development of young leaders.

Participants included Jargalsaikhan Enkhsaikhan, chairman of Blue Banner and a former Mongolian ambassador to the United Nations; Yeqing Li, a senior fellow at the Global Peace Foundation; In-Teck Seo, co-chairman of Action for Korea United and South Korean Rep. Cho Kyung-tae.

Other participants included Jargalsaikhan Zoljargal, a member of Mongolia's State Great Khural; former U.S. Rep. Matt Salmon; Henry Huiyao Wang, founder and president of the Center for China and Globalization; Komei Isozaki, a nonresident senior fellow at Hudson Institute and Rumit Walia, an Indian environmental advocate and youth leadership mentor.

The forum covered four main subjects: Korean unification as a catalyst for Northeast Asian peace and development, reducing nuclear risks in the region, Mongolia's green economy as a new path toward regional integration and forest conservation for peace and future generations.

Before the formal conference, participants spent several days together in traditional Mongolian dwellings known as gers.

Organizers said the private and informal discussions allowed participants to build personal relationships and trust before beginning formal policy talks.

Unified Korea presented as regional catalyst

Participants focused on strategies and policies to advance what organizers described as a new, free and prosperous unified Korea.

They said South and North Korea as well as other major regional powers should cooperate to create conditions favorable to unification.

They also proposed broader international cooperation to manage crises, maintain peace on the Korean Peninsula and build support for a long-term vision of unification.

Several participants called on South Korea to reduce nuclear risks and rebuild confidence by pursuing political and military talks with North Korea and seeking the resumption of economic exchanges.

Others urged the United States and Japan to support peacebuilding through dialogue with Pyongyang, including efforts toward the eventual normalization of U.S.-North Korean and Japan-North Korean relations.

Enkhsaikhan recommended that South Korea pursue political and military dialogue as well as economic exchanges with North Korea as part of a broader effort to reduce nuclear dangers and build trust.

Cho called on Mongolia to play an active bridging role in efforts to denuclearize the Korean Peninsula, citing the country's experience establishing and maintaining its nuclear-weapon-free status.

He said peace and unification on the Korean Peninsula should not be considered an issue for South Korea alone because their consequences would affect the stability and prosperity of Northeast Asia as a whole.

Cho also said he would support bipartisan cooperation in South Korea's National Assembly to help establish the foundations for eventual unification.

Seo presented the Korean Dream, a vision of peaceful unification centered on freedom, human rights, shared prosperity and Korea's traditional founding ideal of Hongik Ingan, meaning to broadly benefit humanity.

He said Action for Korea United is developing the Korea Link campaign as one practical initiative to share the vision of a free and prosperous unified Korea with North Korean residents.

The privately led project is exploring information delivery systems that could overcome the severe restrictions imposed on outside information in North Korea.

Seo said the organization is examining ways that low-Earth-orbit satellite networks such as Starlink could eventually be used to help reach North Korean residents.

The proposal is based on the belief that breaking down information barriers and giving North Koreans access to truthful outside information could become a powerful catalyst for peaceful change and unification.

American journalist Patrick Hickey and Ganbat Gonchigsuren, founder of Mongolia's Green & New Street movement, also emphasized the importance of building an international civil society movement for Korean unification.

They said international solidarity would be important but that the commitment and participation of the Korean people themselves would ultimately determine whether unification could be achieved.

Kyung-Young Chung, co-chairman of the International Cooperation Working Group for a Unified Korea and a former professor at Hanyang University's Graduate School of International Studies, proposed a "grand bargain" among leaders in Seoul, Pyongyang, Washington and Beijing.

Chung proposed pursuing peaceful settlements involving the two Koreas and relations between China and Taiwan.

The proposal represented Chung's individual recommendation and was not presented as a formal position adopted by the forum.

Young leaders call for peaceful unification

Youth representatives said South Korean nongovernmental organizations supporting unification should form closer partnerships with young people in other countries.

They called for an international youth network capable of increasing civic participation and building greater support for peaceful Korean unification.

The youth leaders agreed that unification must take place peacefully and should be accompanied by the denuclearization of the Korean Peninsula.

Participants also said efforts to promote peace and mutual understanding could not succeed while threats to peace persisted and nuclear risks continued to spread.

They said nuclear-armed states bear primary responsibility for reducing and ultimately eliminating their nuclear arsenals.

Any use of nuclear weapons, whether deliberate or accidental, would have catastrophic consequences for countries far beyond those directly involved, participants said.

The delegates called for stronger international measures to reduce the possibility of nuclear conflict.

Mongolia viewed as diplomatic platform

The forum concluded that lasting peace and shared prosperity in Northeast Asia would require dialogue, mutual understanding, cooperation and effective action based on a bold long-term vision.

Participants highlighted Mongolia's potential role as an independent diplomatic platform for inter-Korean reconciliation and regional cooperation.

Mongolia peacefully transitioned from communist rule to a democratic political system while maintaining friendly relations with both South and North Korea.

Participants said the country's proactive diplomacy and negotiating experience give it a distinctive ability to bring together countries and organizations that might otherwise struggle to engage directly.

They also said cooperation on environmental challenges, including desertification, green economic development and forest conservation, could help build relationships that support wider diplomatic and security discussions.

"Lasting peace and shared prosperity are possible only through a courageous vision and effective action grounded in dialogue, mutual understanding and cooperation," Chung said.

"This is the mutually beneficial path that can fully unlock the potential of the Korean Peninsula and Northeast Asia."

By Korean Dream Times and translated by UPI

Mongolia's Borteeg coal deposit starts production www.sxcoal.com

Mongolia's Borteeg coal deposit, located in the Tavan Tolgoi coal field in South Gobi province, officially started production on June 20, according to a government announcement. The commencement of mining operations at Borteeg marks a new chapter for Mongolia's mining industry development.

The project is managed by Erdenes Tavan Tolgoi JSC (ETT) in cooperation with domestic firms for stripping and mining operations, following a 2025 parliamentary resolution and a government decision on June 3, 2026.

ETT holds five main mining blocks at Tavan Tolgoi — Tsanghi, Borteeg, Oortsog, Onchharaat and Bortolgoi — with past operations concentrated only at Tsanghi, where ETT has produced 200 million tonnes of coal over 16 years since 2010.

Borteeg is the second-largest block by reserves at Tavan Tolgoi coal field, with 424.2 million tons of proven reserves for open-pit mining, of which 95% is coking coal and 5% thermal coal, based on current exploration data.

Once fully operational, the mine can produce 15 million tonnes of coal annually. Mongolia's total coal output in 2025 reached 95.45 million tonnes, up 0.37% year on year, according to the National Statistics Office.

In the first 10 years of operation, the project is expected to generate 4.4 trillion tugrik in taxes and fees for national and local budgets, equivalent to about 13% of Mongolia's consolidated fiscal revenue.

Cooperation with domestic firms for mining, drilling, blasting and transport will inject 10.2 trillion tugrik into Mongolia's economy over the same period.

The Tavan Tolgoi coal field is one of the world's largest undeveloped coking coal basins, with Borteeg estimated to hold over 300 million tonnes of high-quality hard coking coal.