1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

64x64

Team Mongolia Wins Third Place in the Championship www.montsame.mn

The 2023 IIHF Ice Hockey U18 Asia and Oceania Championship was solemnly held in Ulaanbaatar, Mongolia, and ended on March 17, 2023. The winners of the championship were honored at the closing ceremony in Steppe Arena.
Specifically, after many fierce battles between six countries, including, Mongolia, Thailand, Turkmenistan, the United Arab Emirates, Iran, and Uzbekistan, the team Uzbekistan lifted the championship trophy with five wins whereas the team Mongolia (host country) sealed 3rd place in the tournament. The team Turkmenistan captured second place with four wins and one loss.
The awards were conferred at the closing ceremony of the tournament by the Vice President of IIHF Aivaz Omorkanov and Minister of Finance and President of the Mongolian Ice Hockey Federation B. Javkhlan.
The International Ice Hockey Federation has 83 member national associations. From Asia, China ranked 16 with points of 2890 in the world ranking - IIHF, following South Korea at 21 with points of 2705 while Mongolia placed 59th.
In addition, the IIHF World Championship Division IV will be held in Mongolia on March 23-26 with participants from Indonesia, Kuwait, Mongolia, Philippines.
...


64x64

Monthly average wage increased by 21% to be MNT 1.7 million www.gogo.mn

In Mongolia, the average monthly wage increased by 21% to MNT 1.7 million as of the fourth quarter of last year. A total of 756,000 employees of 49,000 enterprises and organizations were included in the social insurance payment report Q4 2022 of the Social Insurance General Office. Average wage is calculated based on their wage information.
The number of enterprises which pay social insurance fees increased by 2.7 thousand from the same period last year and by 347 from the previous quarter. Employees increased by 36.8 thousand from the same period last year and by 629 thousand from the previous quarter.
The median monthly wage of 756,000 employees included in the 2022 fourth quarter report of social insurance payment is MNT 1.2 million. The median wage increased by MNT 127 thousand from the previous quarter.
By gender, men's average wages are MNT 1.9 million and women's average wages are MNT 1.6 million. By sector, employees in the sector of international organizations and resident representatives have the highest wage which is equal to MNT 5.2 million, and employees in the sector of art, entertainment, and games is the lowest which is equal to MNT 1.1 million.
However monthly average wage increased by 2 times since 2015, the wage that represents purchasing power increased by 36.7%.
...


64x64

Mongolia's foreign trade turnover up by over 55 pct www.xinhuanet.com

Mongolia's foreign trade turnover increased by 55.2 percent year on year to 3.4 billion U.S. dollars in the first two months of this year.
Mongolia registered a foreign trade surplus of 1 billion dollars in the January-February period, the National Statistics Office said Wednesday.
It was mainly attributed to a significant increase in the exports of mining products, it said.
The Asian country traded with 118 economies worldwide in the period.
...


64x64

Update on the Ice Hockey Under 18 Asia and Oceania Championship 2023 www.montsame.mn

Tomorrow is the last day of the 2023 IIHF Ice Hockey U18 Asia and Oceania Championship.
The third game was between Mongolia (the host team) and Turkmenistan on March 15, the fourth day of the championship. Turkmenistan led by as many as 2 points in the first period. Then, striker M. Chinzolboo (No.18) of the host country shot a goal to tie the game up at 3-3 by successfully attacking the opposing team's goalkeeper in the second period of the game.
The winner will face off in the final of the championship. The team of Turkmenistan turned things around. They pulled within 2 points at the interval 6-4 right before the end of regulation and conquered the host team.
In order to tie the score 5-4, the Mongolian team replaced its goalkeeper with a striker with just 1.32 minutes left in regulation. When the game continued, Turkmenistan punched a victorious shot into the defenseless goal of Mongolia and captured their 3rd win.
Athletes are resting today /2023-3-16/. Tomorrow, Turkmenistan will play against Iran, and Mongolia will fight against Thailand.
Previous results:
The UAE 6-2 Thailand
Uzbekistan 5-0 Turkmenistan
Mongolia 5-0 Iran
Iran 1-14 Uzbekistan
Thailand 3-4 Turkmenistan
Thailand 8-0 Iran
The UAE 2-7 Turkmenistan
Mongolia 4-7 Uzbekistan
Uzbekistan 10-2 Thailand
The UAE 2-7 Iran
Mongolia 4-6 Turkmenistan
...


64x64

Turkiye and Mongolia to push trade volume to USD 500 million www.news.mn

After hitting last year’s target, Turkiye and Mongolia are aiming to push their trade volume to at least USD 500 million in the coming period before the two countries celebrate the 55th anniversary of diplomatic ties.
“Next year, Turkiye and Mongolia will celebrate the 55th anniversary of their diplomatic relations, and therefore investment deals signed beforehand need to be revised and updated,” said Turkish Foreign Minister Mevlut Cavusoglu at a joint presser with his Mongolian counterpart B.Battsetseg following a one-on-one meeting, notably the first of its kind 31 years, in the capital Ankara.
“We have discussed bilateral relations and underlined that these need to be improved by cooperating on many fields,” Cavusoglu informed, noting as steps to be taken include the increase of civilian and cargo flights, boosting quotas for land transports and eliminating obstacles in front of trade, as well as in education and culture, mainly due to historical and cultural ties between the two nations.
Turkiye offered Mongolia to elevate our bilateral ties from a comprehensive partnership to a strategic partnership, and we are waiting for their answer,” Cavusoglu revealed.
Cavusoglu further thanked Mongolia for their support in the wake of the earthquakes that left over 48,000 dead in Turkiye’s southeast. “A 37-person team from Mongolia rescued eight people from the rubble in the Hatay province,” Cavusoglu informed, adding that the country supplied tents, including traditional Mongolian tents, for the victims. “We are especially grateful to the Mongolian people who have continued their humanitarian support to Turkiye since day one,” he said.
The Turkish diplomat said he also thanked B.Battsetseg for Mongolia’s help in fighting the Gulenist Terror Group (FETÖ) and that she confirmed no FETÖ member was left in the country.
“We have cooperated in the fight against terrorism before, and there have been conflicts in the past because of this, but this group is a threat to everyone, not just Turkiye. It’s a threat for Mongolia, as well,” Cavusoglu said. “Some of their schools in Mongolia were taken over by a shell company in Germany. Therefore, we gave them a friendly warning to be always vigilant about FETÖ.”
In light of Mongolia’s potential of joining the Organization of Turkic States (OTS) as an observer member, Çavuşoğlu said the organization was working to reinforce ties with all Asian nations and institutions, including the Association of Southeast Asian Nations (ASEAN) and reinstate a holistic approach to the region with more than 1,000 concrete projects.
For her part, B.Battsetseg emphasized that the Mongolian people “stand in harmony with Turkiye” and affirmed she and Cavusoglu agreed on “working to achieve a strategic partnership and carry out mutual, high-level visits on the 55th anniversary of our diplomatic relations.”
“We also reached a consensus on collaborating for projects that could symbolize bilateral relations,” B.Battsetseg said.
“The contribution of Türkiye’s humanitarian, diplomatic activity to the global community has been proven, be it during the COVID-19 pandemic, be it in the Russia-Ukraine war,” she concluded.
...


64x64

Monetary Policy Statement www.montsame.mn

The Monetary Policy Committee of the Bank of Mongolia (MPC) held its scheduled meetings on March 14 and 15, 2023. Taking into consideration current state of the economy and financial markets as well as outlook and risks to the domestic and external economic environment, the MPC decided to:
1. Keep the policy interest rate at 13%;
2. Widen the policy rate corridor to be set as 1 percentage points above and below the policy rate and;
3. Exclude certain bank liabilities with maturities of at least 360 days and more that are newly funded on international markets in the
form of bonds or loans from required reserve liabilities.
Annual inflation reached 12.2 percent nationwide and 12.1 percent in Ulaanbaatar city as of February 2023.
 
 
 
...


64x64

Decisions Made at Cabinet Session www.montsame.mn

During its regular session on March 15, 2023, the Cabinet made the following decisions:
Five “W” Operations to Combat Corruption to be Intensified
The Government of Mongolia has declared 2023 as the “Year to Combat Corruption" and started the five “W” operations to combat corruption. According to Mr. Nyambaatar, the Minister of Justice and Home Affairs and the Chair of the Working Group of the “Wasp” Operation, within the framework of the “Wasp” operation, overseas fugitives will be brought back to the jury according to the international agreements and Mongolian laws, ensuring the streamlined process of investigation.
Within the scope of the “Whistleblowing” Operation, a bill on protecting whistleblowers who are reporting corruption and misconduct for public interests will be discussed at the spring session of the State Great Khural and required measures to reduce bureaucracy in public services and protect legitimate interests of individuals and private sectors will be taken. In pursuant to the No. 20 Ordinance of the Prime Minister, a working group, led by Deputy Minister of Justice and Home Affairs Solongoo, for the “Whistleblowing” operation was set up. The members of the working group work at the Government’s “11-11” center every Friday and meet with citizens. Minister of Mongolia and Chief Cabinet Secretary of the Cabinet Mr. Amarbayasgalan was mandated to organize the “Wiping-out” and “Wealth” operations and Minister of Digital Development and Communication Mr. Uchral was tasked to be responsible for the “Wide-open” operation.
Moreover, the Prime Minister mandated the working groups in charge of five “W” operations to intensify their activities and present the results at the Cabinet meeting every month.
Certificate of Honor of the Government will be awarded to the team members who participated in humanitarian relief and search and rescue operations in Turkey.
The Cabinet decided to award the “Search and Rescue team”, led by Deputy Chief of the National Emergency Management Agency, Brigadier-General Mr. Uuganbayar, and the “Medical team” of the Ministry of Defense, led by Colonel Mr. Sukh-Ochir with the Certificate of Honor of the Government, recognizing their demonstration of skill, bravery, resilience, compassion, and humanity of Mongolians and honorably fulfilling their duties and responsibilities.
During the extraordinary session of the Government dated February 7, it was decided to send humanitarian aid to the people of the Republic of Turkey and the Syrian Arab Republic, who were affected by the deadly earthquake. On February 8 or 68 hours after the earthquake, the Mongolian search and rescue team of 41 members, including 24 rescuers from the NEMA and 11 officers from Mongolian armed forces, and some media representatives, landed in Hatay province, Turkey, and started participating in the rescue operations.
In 10 days, the rescue team rescued 8 people from under the rubble of the building and took them to the health care facility, and the bodies of 19 people were handed over to the relevant authorities. With the help of their two search dogs, named Balu and Marta, they also located 45 bodies of people who lost their lives in the earthquake. The medical group, based on the local hospital, provided medical care to 649 people. In addition, five tons of meat, one ton of candles, 1000 blankets, and 20 complete Mongolian gers were sent to Turkey. The gers were built and handed over to the Turkish side with other humanitarian aid.
...


64x64

Mongolia to decide on gas pipeline route after Russia-China cost agreement www.reuters.com

Mongolia will take a decision on which part of its territory will be used to construct the Russia-China gas pipeline once its neighbours reach an agreement on costs, the country's prime minister said.
Russian energy company Gazprom (GAZP.MM) is planning to build the 2,600 km Power-of-Siberia 2 gas pipeline to supply 50 billion cubic metres of gas per year to China by 2030.
Mongolian Prime Minister Luvsannamsrain Oyun-Erdene told Reuters on Tuesday that talks between its two big neighbours had been put on the back burner due to the Ukraine war, but there was a likelihood of them coming back to the negotiating table.
After Russia and China decide on the pricing, Mongolia will decide on how they can use its territory to transport the gas, Oyun-Erdene said.
Nearly 80% of Mongolia's total exports go to China, but the mineral-rich country is working to expand trade and mining relationships beyond China and Russia and hopes to become a bridge between Europe and Asia.
"We're discussing cooperation in the rare earth elements sector; having discussions with German and French sites on copper production, and enhancing our private sector partnership with the Republic of Korea and Japan," Oyun-Erdene said.
On Monday, the country started its long-delayed underground production at the Oyu Tolgoi project, in which it has a 34% stake, with Anglo-Australian miner Rio Tinto (RIO.AX) owning the rest.
Oyun-Erdene said the Mongolian government was not looking to raise its stake in Oyu Tolgoi and was satisfied with the partnership.
Oyu Tolgoi is slated to eventually produce more than 500,000 tonnes of copper a year and help Mongolia become one of the largest producers of the metal in the world.
With mining accounting for a quarter of the country's GDP and around 93% of its exports, Mongolia is implementing reforms to safeguard its economy from volatility in commodities markets, the prime minister said.
The government will start a sovereign wealth fund to cushion itself against raw material price volatility, diversify its economy and invest more in building infrastructure and logistics.
"These measures will greatly contribute to balance our economy and address the issue of volatility," Oyun-Erdene said.
Reporting by Mrinalika Roy and Arunima Kumar in Bengaluru; Editing by Anil D'Silva
...


64x64

RSF urges legislators not to override presidential veto of dangerous social media bill www.rsf.org

Reporters Without Borders (RSF) calls on Mongolian Parliament to uphold the presidential veto of a dangerous social media bill, during the plenary vote scheduled for 17 March, and to take their time to prepare a well-thought-out version based on the recommendations from the Forum on Information & Democracy.
On Friday, 17 March 2023, the Mongolian parliament (The State Great Khural) is scheduled to vote on a veto, applied by President Khurelsukh Ukhnaa in January, a decision welcomed by RSF. The bill, which could be still adopted if veto is overridden by receiving two-thirds of the lawmakers votes, would give political authorities the ability to make arbitrary and politically motivated decisions, giving the authorities the power to censor any online content they dislike.
"Granting the government a right to censor the Internet without due process threatens the public’s right to information and may one day lead to silencing journalists. We call on legislators to ensure that this bill is once and for all rejected, and to take their time to prepare a well-thought-out version of it based on the recommendations made by the Forum on Information & Democracy.
Cédric Alviani
RSF East Asia Bureau Director
The Forum on Information and Democracy recommendations
In November 2020, the Forum on Information and Democracy published the report “​​How to end infodemics”, based on more than 100 contributions from international experts, offering 250 recommendations to respond to the information chaos on online platforms and social media. It proposes, among others, strengthening the governance of the national regulator, reinforcing the regulator’s independence from the executive branch and accountability to the legislative branch of government and clarifying the appointment process of the national regulator with a clear vetting process.
The Forum published also three other reports and sets of recommendations for public regulation: in 2023, report “Pluralism of news and information in curation and indexing algorithms” containing suggestions for States and digital platforms on the pluralism of curation and indexing algorithms; in 2022 report on “Accountability regimes for social networks and users” proposing ways to harmonise moderation policies on platforms, enabling them to protect both freedom of expression and access to information; in 2021 the report “A New Deal for Journalism”, calling on governments and influential actors to improve the policy, funding, and enabling environment for independent professional journalism, by guaranteeing up to 0.1% of GDP a year in support of journalism.
Launched in 2019 and endorsed by 50 countries, the International Partnership on Information and Democracy aims at implementing democratic safeguards in the information and communication space. Based on principles drafted by a Commission composed of Nobel laureates, journalists and experts on new technologies, it provides appropriate responses to the information chaos threatening democracy, peace and the achievement of the sustainable development objectives (SDGs).
Mongolia ranked 90th out of 180 in the 2022 World Press Freedom Index.
...


64x64

MineSec Empowers Mongol iD as Mongolia's Pioneering Fintech with SoftPOS Launch www.en.prnasia.com

SINGAPORE, March 15, 2023 /PRNewswire/ -- MineSec has boosted Mongol iD's capabilities as a leading fintech firm among Mongolia's market players by helping launch a software point of sale (SoftPOS) for the latter. Through the SoftPOS solution, MineSec has enabled Mongol iD to conduct businesses directly through mobile card payments without the need of additional software.
SoftPOS converts smart devices into a secure payment terminal as opposed to traditional POS systems. This revolutionary payment technology enables scalability while minimising terminal and maintenance costs. Mongol iD is seeing opportunities to expand their business using SoftPOS technology. This is in line with a new regulatory push from the Bank of Mongolia which mandates all issued cards to possess contactless capabilities.
Mongol iD will utilise the SoftPOS solution from MineSec for the newly released MinuChat. The unified solution offers merchants various services such as account statement; transfers and payments; as well as credit and loan applications; and invoicing and subscription payments. MinuChat also includes other advanced technology features that can ease business models such as chatbot services for merchants and map-based solutions that can help navigation including delivery and merchant information.
"With the support of MineSec, we are pleased to be the pioneering fintech company in Mongolia to launch a unified merchant solution with embedded SoftPOS functionality to drive local businesses' digital transformation and enable flexible fintech solution adoption," Khaliunbat.M, Chairman, of Mongol iD, said.
"We believe that SoftPOS can bring financial inclusivity and reduce the limitations of conservative financial services. MineSec is a strategic partner and their SoftPOS technology will play a key role in helping us bring all kinds of services into the palm of our customers," he added.
MineSec's white-label SoftPOS solution meets international standards set by payment schemes like Visa, Mastercard, Discover, AMEX, UnionPay and JCB, enabling customers to scale confidently and competitively amid the international market's unique evolving needs.
"Amid the rising demand for convenient and secure payment acceptance methods, many payment service providers are pressured to provide new value-added services to their merchant networks. We enable businesses like Mongol iD to leapfrog their own SoftPOS solution development with our SoftPOS Software Development Kit (SDK). This, in return, shortens the development process and allows effective solution deployment to Mongol iD's merchant clients," said Angus Chiu, CEO, of MineSec.
Moving forward, Mongol iD is looking to tap on MineSec's technology to launch SoftPOS on iOS devices in the future.
About MineSec
MineSec is a Singapore-based fintech firm that strives to drive innovation in secure and seamless contactless payment solutions globally. Its white-label SoftPOS solution provides ease of integration and customisation for various business needs.
...