Mongolia’s First Organic Livestock Feed Plant Expands Production Tenfold www.montsame.mn

“MiMo” Agro Park, Mongolia’s first organic livestock feed plant, is operating in Baruunburen soum, Selenge aimag.

During a visit to the soum on October 11, Uchral Nyam-Osor, Prime Minister of Mongolia, toured the facility and received a briefing on its production capacity and the economic benefits it aims to deliver to herders.

The “MiMo” Agro Park was established with an investment of MNT 50 billion, of which MNT 5 billion was financed through a concessional agricultural loan. The plant initially had the capacity to produce 5 tonnes of livestock feed per day, but has since increased its production capacity tenfold. This expansion is expected to help boost domestic livestock feed supplies.

In addition to manufacturing feed, the company aims to increase herders’ incomes and support the supply of quality meat by purchasing livestock at premium prices from herders who raise their animals using “MiMo” feed. According to the company, herders could earn a return of MNT 3–5 for every MNT 1 spent on “MiMo” feed. The initiative is intended not only to improve livestock productivity but also to help herders market their products more profitably.

Company officials stated that using “MiMo” feed could reduce livestock losses from non-disease-related causes by up to 90 percent, increase cashmere yields by 60 percent, milk production by 40 percent, and meat output by 200–300 percent.

The feed is also considered beneficial for providing livestock with essential nutrients, improving their growth and productivity, and reducing risks associated with nutritional deficiencies.

Mongolia 'BB-' Long-Term Rating Affirmed; Outlook Stable www.montsame.mn

On October 8, S&P Global Ratings affirmed its ‘BB-’ long-term and ‘B’ short-term sovereign credit ratings on Mongolia. The outlook on the long-term rating is stable.

Several core factors underpinned the decision to maintain Mongolia’s rating:

-Economic momentum is expected to be largely driven by rising copper production from Phase 2 of the Oyu Tolgoi (OT) project and steady coal exports to China. Due to robust export growth, narrow net external debt relative to current account receipts has experienced a share decline, projected to drop from 184% in 2020 to 58% by 2026.

-Mongolia’s economic growth over the next two to three years will likely outpace that of sovereign peers with similar average income levels.

-S&P noted that general government net debt stood at 29% of GDP as of 2025 and is projected to settle around 25% over the medium term, representing a sound level. The government’s debt servicing capacity remains relatively strong due to a stable tax revenue base and low debt-service costs. Notably, government interest payments relative to budget revenue have dropped significantly over the past decade and are expected to remain below 5% over the medium term.

-Fiscal prudence will be maintained by keeping the consolidated balanced budget deficit within 2% of GDP. Long-term efforts to minimize budget revenue volatility caused by commodity price fluctuations continue via accumulations in the fiscal stability fund and the wealth fund. Factoring in these fund accumulations, the consolidated budget balance is projected to record a surplus of 2.0% of GDP in 2026 and 1.6% in 2027.

Within this latest announcement, Mongolia’s sovereign ratings from the three major international credit rating agencies stand as follows:

 -S&P Global Ratings: “BB-, Stable” (Affirmed October 8, 2026)

-Fitch Ratings: “B+, Stable” (Affirmed August 19, 2026)

-Moody’s Investors Service: “B1, Stable” (Affirmed October 5, 2026)

According to the Government of Mongolia, maintaining these ratings amidst an unpredictable external environment underscores continued international confidence in Mongolia’s economic trajectory and policy stability.

Inside the Luxury Resort Mongolia’s Fuel Crisis Never Reached www.intpolicydigest.org

At a luxury resort on Mongolia’s Khyargas Lake, the country’s rich and powerful spent the summer chartering helicopters, cruising aboard Italian yachts, and riding jet skis. Beyond the resort’s secluded shores, ordinary Mongolians were struggling through one of the country’s worst fuel crises in decades.

Khyargas Aurum Resort offered Mongolia’s elite an escape seemingly untouched by the shortages gripping the rest of the country. But the property’s connections extend well beyond luxury tourism. It is tied to the family of Jononbayar Erdenesuren, a central figure in Mongolia’s $1.1 billion Lex Oil fuel-fraud scandal, whose network of companies continues to control a significant share of the country’s fuel imports.

The resort announced its opening on July 9, 2026. Days later, Gankhuu Gendendaram, a musician and former politician, posted a 19-minute video documenting his stay. Comparing the experience to living like an Arab sheikh, he showed his family cruising aboard one of the resort’s Italian-made Pardo yachts, riding dune buggies, and enjoying Italian wine. They returned home aboard a privately chartered helicopter.

Within weeks, Khyargas Aurum had become one of the summer’s most fashionable destinations. Uka, one of Mongolia’s biggest pop stars, was photographed paddleboarding and relaxing aboard one of the resort’s two yachts. Models and social media influencers documented similarly extravagant visits throughout July.

By early August, the contrast between life at the resort and conditions elsewhere in Mongolia had become impossible to ignore.

On August 4, the country’s Emergency Headquarters imposed fuel restrictions in Ulaanbaatar. Motorists could purchase fuel only on designated days, determined by their license plate numbers, while the use of portable petrol containers was prohibited.

Tourism operators, however, received an exemption. On August 7, the Ministry of Industry and Mineral Resources announced that tourism businesses traveling outside Ulaanbaatar could purchase fuel without the ordinary limits by presenting industry identification. The land occupied by Khyargas Aurum is officially registered for use as a tourism camp.

The restrictions appeared to have little effect on the resort’s operations. On August 9, six days into the rationing measures, Kazakh influencer Kanat Aynur posted 21 photographs from Khyargas Aurum. They showed a helicopter parked outside the resort’s terrace, a Pardo yacht being moored, jet skis, and a dune buggy. Meanwhile, helicopter charters operated by Alpha Aurora Aviation continued carrying guests to the property.

The resort’s fleet of helicopters, yachts, jet skis, and recreational vehicles showed no visible signs of being constrained by the shortages affecting ordinary motorists.

The family behind the resort is closely connected to Jononbayar Erdenesuren, a businessman whose name has become associated with the Lex Oil scandal. Even before Khyargas Aurum formally opened, social media users were identifying it as his project. One commenter described it in late July as the famous Jononbayar’s business, while another referred to it as belonging to “thief Jononbayar.”

The family connection was hardly concealed. Within weeks of the resort’s launch, five-star Google reviews had appeared from Jononbayar’s aunt, his reported girlfriend, and 108 Oil, another fuel importer linked to the family’s business network.

GraphDespite the publicity surrounding its opening, it remains unclear whether Khyargas Aurum has ever operated as a conventional resort open to the general public. No nightly rates have been published. Across four of the resort’s social media posts, 20 commenters asked about prices or reservations without receiving any public response.

Nor was July 2026 the property’s true beginning.

As early as 2024, Mongolian media reported that Jononbayar already maintained a tourist camp on Khyargas Lake, traveling there aboard helicopters operated by Alpha Aurora Aviation. Earlier reporting also claimed that he had imported three Italian Pardo yachts in 2020 for use at the property. Khyargas Aurum’s own social media accounts indicate that development of the resort had been underway since 2023.

The property’s origins lead back to 2021, when the land was awarded to Good Future LLC, a company with its own connections to the Lex Oil network.

Good Future was registered in 2017, with Dorjgochoo Erdenetuyaa as its sole shareholder. Before acquiring the resort land, its only recorded business venture was connected to fuel. On April 3, 2019, Good Future became a shareholder in Petroleum Production, a company licensed to import and wholesale petroleum products.

Two days earlier, VS Oil, founded by Erdenetuyaa’s brother-in-law, Dashnyam Chinbat, the husband of Dorjgochoo Erdenetuul, had acquired a stake in Lex Oil.

Mongolian reporting has identified Good Future among 12 companies allegedly controlled by five members of the same family, describing them collectively as part of a counterfeit fuel network. Petroleum Production has also faced scrutiny. In January 2025, Mongolia’s Deputy Speaker of Parliament named the company during a State Palace press conference as an example of an alleged counterfeit fuel operation.

Good Future disposed of its stake in Petroleum Production in January 2021. Five months later, the company applied for possession rights to approximately two acres of lakeside property where Khyargas Aurum would eventually be built.

The circumstances surrounding that land allocation raise questions of their own.

On June 16, 2021, the Uvs provincial land department published a notice offering 12 parcels across four districts, including five sites along the shores of Khyargas Lake. One of those parcels, specifically designated in the 2021 allocation process, would become the resort.

Applications opened at 9 a.m. on June 21 and closed just 30 hours later. During that narrow window, prospective applicants were required to submit bank solvency certificates, evidence of qualified personnel and equipment, and a comprehensive resort development plan meeting national standards.

Nine days later, the provincial governor approved the allocation. The land contract was executed, and the possession right was registered, all on the same day.

At the time, Good Future had no director listed in its company records and no licenses recorded in the public register.

Although the official documents listed an opening auction price of $4,446.93, no auction took place. Instead, Good Future obtained the land through a project-selection process in which officials evaluated development proposals rather than awarding the property to the highest bidder.

The company secured possession rights lasting until 2041, with an annual payment of just $110.

The officials responsible for the allocation subsequently became embroiled in a separate criminal case involving allegedly improper land grants in Uvs province.

U. Bolor-Erdene, the cadastral specialist who registered Good Future’s possession rights, was charged with abuse of office three years later, alongside the provincial governor and the acting head of her department. Prosecutors alleged that land had been allocated outside the approved land-management plan, including to relatives and political associates.

Those charges concern a separate case and do not, by themselves, establish wrongdoing in Good Future’s allocation. Nevertheless, the resort’s unusually compressed application process, favorable terms, and connections to an influential business network warrant closer scrutiny.

The resort that emerged on the shores of Khyargas Lake was not simply an isolated luxury development. Its corporate connections reveal an interconnected family business empire spanning fuel imports, aviation, construction, food, and luxury retail.

Good Future is registered at an apartment in Ulaanbaatar’s Emerald Residence complex. The same address has been used by several other companies owned or formerly controlled by Erdenetuyaa. Among them is Uptown Place, a construction company she acquired five months before Good Future received the Khyargas land.

Good Future’s executive director, Münkhkhuyag Uyanga, also manages Alpha Aviation Fuel, a licensed petroleum importer and wholesaler supplying aviation fuel in Mongolia.

Alpha Aviation Fuel was founded by Jononbayar’s mother, Dorjgochoo Erdenesuren, and his aunt, Dorjgochoo Erdenetuul. Erdenesuren remains its registered ultimate beneficial owner.

The helicopters transporting guests to Khyargas Aurum are operated by Alpha Aurora Aviation, another company with ties to the same network. Established in 2023 by VS Oil, Alpha Aurora has already attracted national attention for its connections to Mongolia’s political elite.

In 2025, one of the company’s helicopters appeared in photographs of an extravagant marriage proposal involving the son of then-Prime Minister L. Oyun-Erdene.

The images became part of a broader controversy over the wealth and lifestyles of Mongolia’s political establishment. Public anger helped fuel three weeks of anti-corruption protests, culminating in Oyun-Erdene’s loss of a parliamentary confidence vote and his resignation on June 3.

Even the Italian food and wine served to guests at Khyargas Aurum can be traced through the family’s network of businesses.

Jocondi, a company registered in another building within the Emerald Residence complex, has been owned and managed since 2018 by Dorjgochoo Erdenetuul, a family member implicated in the Lex Oil affair.

During Mongolian court proceedings, Jocondi’s accountant testified that the company operated the Smeraldo food store at Emerald Residence, along with two luxury fashion outlets.

The Italian brand Redoro is associated with the Smeraldo store and Jocondi. Promotional leaflets featuring the brand, complete with QR codes allowing guests to make purchases, can be seen on tables in photographs taken at Khyargas Aurum.

During his video tour of the property, Gankhuu described the Italian importer as a subsidiary belonging to the resort’s owners.

The connections are revealing. From the land beneath the resort to the helicopters flying guests there, the aviation fuel used to power them, and the imported products offered once visitors arrive, Khyargas Aurum sits at the intersection of businesses controlled by members of the same family.

And despite the exposure of the alleged $1.1 billion Lex Oil fraud, the family’s commercial reach appears to have continued expanding.

GraphOf the 34 licenses Mongolia issued for the importation of various types of fuel during 2025 and 2026, seven went to companies connected to Jononbayar’s network.

That figure underscores the extraordinary contradiction at the heart of Khyargas Aurum.

While ordinary Mongolians were being told when they could purchase fuel and how much they were permitted to buy, the family connected to this luxury retreat remained deeply involved in the business of importing it.

And as motorists elsewhere confronted rationing and shortages, the helicopters continued arriving, the Italian yachts continued cruising, and the jet skis continued carving through the waters of Khyargas Lake.

For the guests of Khyargas Aurum, Mongolia’s fuel crisis might as well have been happening in another country.

World's most expensive Mongolian falcon sells for record SR1.4 million at Saudi auction www.gulfnews.com

 A Mongolian falcon has sold for a record SR1.4 million at an auction in Saudi Arabia, becoming the most expensive bird ever sold at the Mongolian falcon auction held as part of the Saudi International Falcons and Hunting Exhibition 2026.

The record-breaking sale took place on Friday during the fifth evening of the auction, when three young saker falcons fetched a combined SR1.651 million.

Bidding for the most expensive bird began at SR100,000 before climbing to SR1.4 million, setting a new record for the auction.

The evening opened with the sale of a young saker falcon for SR151,000, followed by a second bird that fetched SR100,000.

The third falcon attracted the highest bid of the night, accounting for the vast majority of the evening's sales.

The Saudi International Falcons and Hunting Exhibition has dedicated a section to Mongolian falcons for the second consecutive year.

Among the birds on display is the Mongolian saker falcon, known for its large size, long wingspan and endurance.

Its plumage ranges from lighter shades to dark brown, characteristics that make the species particularly attractive to falconry enthusiasts.

The auction provides visitors with an opportunity to examine Mongolian falcons and bid for them directly, bringing together enthusiasts from different countries and reflecting the international appeal of falconry.

The exhibition, organised by the Saudi Falcons Club, concluded on Saturday at the Riyadh Exhibition and Convention Centre in Malham, north of the Saudi capital.

Held under the theme A Destination for All, the event brought together falconry, hunting, outdoor activities, adventure and a range of visitor experiences.

First 87 Km of Bagakhangai-Khushig Valley-Emeelt Railway Completed www.monstame.mn

Construction is underway on the 127-kilometer Bagakhangai-Khushig Valley-Emeelt railway, a major infrastructure project aimed at reducing congestion in the capital and supporting the development of satellite cities and new residential areas.

More than 1,100 people and around 700 pieces of machinery and equipment are currently involved in the project, with the first 87 kilometers of railway completed. A total of 1,279 meters of bridges have also been built by five domestic consortia.

Once fully operational, the railway will allow 34 types of explosive and hazardous cargo to be transported without passing through central Ulaanbaatar. It is also expected to ease road congestion caused by railway crossing barriers, which currently disrupt traffic for an average of 144 minutes per day. The new line is projected to reduce barrier closure times by 21 to 120 minutes, helping improve traffic flow across the capital.

The new railway network is also expected to accelerate development in the Khushig Valley area and lay the groundwork for creating a more favorable environment for living, working and doing business in Hunnu City.

Officials emphasized that major infrastructure projects, including the Bagakhangai-Khushig Valley-Emeelt railway, are essential to developing the Khushig Valley region and establishing a new transport and logistics network.

Ulaanbaatar's population has doubled over the past 20 years to approximately 1.7 million, increasing the need to develop satellite cities and new residential areas to ease urban concentration and reduce pressure on infrastructure.

Ulaanbaatar Proposes Cutting Tax Rates on Six Types of Services by 50% www.monstame.mn

The Capital City Governor’s Council discussed a draft resolution on setting municipal tax rates, proposing to reduce the tax rate on restaurants, hotels, resorts, car washes and automotive service centers to 1%, a 50% reduction.

According to the Media and Public Relations Department of the Capital City Governor’s Office, the proposal would retain the 2% tax rate on all types of tobacco and tobacco products, related accessories, and all types of alcoholic beverages.

The capital city currently levies a 2% tax on two categories of goods and six types of services.

Purevdagva Byaruuzana, Governor of the Capital City and Mayor of Ulaanbaatar, noted that at its meeting in August, the Citizens’ Representatives Khural of the capital city cancelled 103 types of permits required for businesses to operate. He said the tax reduction for six types of services was intended to support businesses and organizations amid inflation and rising prices caused by fuel shortages.

Professional Hunting Teams to Be Deployed in Bear-Risk Areas www.montsame.mn

In connection with situations endangering human life and health, Prime Minister Uchral Nyam-Osor instructed the leadership of the State Emergency Commission, the Ministry of Environment and Climate Change, and the Ministry of Justice and Home Affairs to take prompt measures to ensure cross-sectoral integrated organization, protect public safety, and mitigate risks.
Noting that a tragic incident occurred where a brown bear entered a residential area and claimed a human life, the Prime Minister expressed deep condolences on behalf of the Government of Mongolia to the family and relatives of the deceased citizen.

"We do not have the luxury of wasting time discussing changes to laws and regulations while bears are taking human lives. Before legal amendments are enacted, we must protect our citizens within the framework of existing laws and promptly implement preventive measures," he warned.

He ordered that teams comprising police, internal troops, armed forces, rangers, and professional hunters be deployed to high-risk locations, that professional organizations operate on a 24-hour basis, and that the State Emergency Commission provide daily updates and necessary information to the public.

Relevant officials were directed to promptly organize measures to protect the life, health, and property of citizens, as well as to capture, transport, and relocate bears to suitable habitats. Furthermore, the Government allocated MNT 1 billion to expedite the customs clearance and import of bear tranquilizer guns, pharmaceuticals, reagents, and equipment. The Media and Public Relations Department of the Government reported that officials were instructed to monitor implementation and utilize technological advancements to assess the bear population.

Ancient DNA Links Attila’s Huns to the Elite of a Lost Mongolian Empire www.zmescience.com

The Huns were a nomadic people whose sudden and ferocious arrival in the late 4th century sent shockwaves through the ancient world. Known for their lightning-fast cavalry and relentless raids, they struck terror into the heart of the Roman Empire. They were led by Attila, the “Scourge of God”, who raided Roman settlements with a force that seemed almost elemental.

Their sudden appearance and rapid rise to power have long puzzled historians and archaeologists. Were they descendants of the Xiongnu, the nomadic empire that once dominated the Mongolian steppe centuries earlier? Or were they a completely different group, their origins lost to time?

A new study, published by a team of geneticists, archaeologists, and historians, may have finally shed light on this ancient origin story. By analyzing the DNA of 370 individuals who lived across Eurasia between the 2nd century BCE and the 6th century CE, researchers have uncovered surprising genetic ties between the Huns and the Xiongnu elite. But there was more to the Huns than a single lineage.

It’s a complex story of migration, mixing, and cultural exchange that reshaped Europe.

A Genetic Journey Across the Steppe
The team, part of the ERC Synergy Grant project HistoGenes, sequenced 35 new genomes from key sites. These included a 3rd-4th century burial in Kazakhstan and 5th-6th century graves in the Carpathian Basin. Some of these burials stood out. Known as “eastern-type,” they bore hallmarks of steppe traditions — think nomadic warriors laid to rest with their horses. The researchers, hailing from institutions like the Max Planck Institute for Evolutionary Anthropology in Leipzig, Germany, zeroed in the DNA of these remains.

“DNA can tell stories of ancestries and it is therefore an important source of information when investigating origins and connections between ancient people and cultures. It must be used in light of accurate archaeological and historical frameworks otherwise it can be also misinterpreted. It was extremely challenging as the burials available are so scarce and covers such a large geographic scale and time period,” Guido Alberto Gnecchi-Ruscone, a co-first author of the study, told ZME Science.

While most individuals in the Carpathian Basin after the Huns’ arrival showed little East Asian ancestry, a small group stood out. These individuals, often associated with elite burials, carried significant genetic signatures linking them to the Xiongnu Empire.

The discovery of shared IBD (identical-by-descent) links between some Hun-period individuals in Europe and elite Xiongnu burials in Mongolia stood out immediately and was a huge surprise for the researchers.

“It was like finding a needle in a haystack! And it is even more surprising that most of these IBD links are mediated by a few individuals from the highest elite Xiongnu society. The mechanism that brought these genetic descendants into Europe is still unknown and we don’t know whether they even knew about these distant genetic lineages. Do you know who your 10th-degree relatives are or who were your relatives 300 years ago? It could be that we are observing the results of centuries of marrying practices among the elite of steppe societies that eventually “moved” the genes of these elite Xiongnu into Europe 300 years later,” Gnecchi-Ruscone told ZME Science in an email.

The fact that the population of the Hun Empire was so genetically diverse reflects a complex web of genetic interaction rather than a single mass migration. “DNA and archaeological evidence reveal a patchwork of ancestries,” said Zsófia Rácz, another co-first author.

While some individuals carried clear East Asian ancestry, most of the population in the Carpathian Basin remained predominantly European. This contrasts sharply with the later arrival of the Avars, who came to Europe in the 6th century straight after their empire in East Asia collapsed at the hands of the Turks. Unlike the Huns, the Avars maintained a strong East Asian genetic signature throughout their rule.

The Xiongnu, a powerful nomadic confederation that dominated the Mongolian steppe from the 3rd century BCE to the 1st century CE, were among the earliest and most formidable empires of the Eurasian plains. Known for their skilled horsemanship and military prowess, they repeatedly clashed with China’s Han dynasty. Earlier Chinese states had already built defensive walls, while the Qin and Han rulers expanded and maintained frontier fortifications in response to threats from the northern steppe.

Despite their prominence, the empire dissolved around 100 CE, leaving behind a legacy of mystery and speculation about their descendants. The Huns, however, first marched into Europe at around 370 CE. This was after they crossed the Volga River and conquered the Alans, another civilization of nomadic, warring horsemen.

The genetic evidence suggests that some descendants of the Xiongnu eventually reached Europe, possibly through centuries of migration and intermarriage. But it does not establish a continuous migration of a single people from Mongolia to the Carpathian Basin.

“The ancestors of Attila’s Huns took many generations on their way westward and mixed with populations across Eurasia,” explained Walter Pohl, a co-corresponding author.

Did the Huns and Xiongnu Speak the Same Language?
Genetics may not be the only clue connecting the Huns to their distant predecessors. Linguists have also searched for traces of a shared language.

In a separate study published in June 2025, Svenja Bonmann of the University of Cologne and Simon Fries of the University of Oxford proposed that the Xiongnu and the European Huns may have spoken an early form of Arin, an extinct language belonging to the Yeniseian family, once spoken across parts of Siberia.

Their argument draws on four types of linguistic evidence: words borrowed into other languages, fragments recorded in ancient Chinese texts, Hunnic personal names, and place names along possible migration routes. Together, the researchers argue, these clues point toward a linguistic connection between the two confederations.

The proposal remains debated. Very little of the Hunnic language survives, making it difficult to reconstruct what its speakers actually said. This seems to support the connection, and while not fully confirmed, the linguistic study offers another intriguing piece of the puzzle.

Huns of Varied Ancestry
So where does this leave us? The study challenges the idea of the Huns as a uniform horde. Instead, it reveals a dynamic interplay of cultures and genes. The eastern-type burials, with their varied ancestry, hint at a elite class tied to the steppe. Yet the broader population reflects centuries of mixing.

Johannes Krause, director of the Department of Archaeogenetics at the Max Planck Institute and a co-corresponding author, sees this as a triumph of science. “From a broader perspective, the study underscores how cutting-edge genetic research, in combination with careful exploration of the archaeological and historical context, can resolve centuries-old debates about the composition and origin of past populations,” he says.

Questions linger, of course. How did these Xiongnu descendants rise to prominence among the Huns? What drove their ancestors westward? We don’t know. But these intriguing findings highlight how the ancient world was in motion, where empires rose and fell, and where bloodlines stretched across continents like threads in a vast, ancient weave.

The findings appeared in the Proceedings of the National Academy of Sciences.

Updated October 10, 2026: This article was originally published in February 2025 and was subsequently updated. It has been further revised to clarify the genetic evidence connecting some European Huns to the Xiongnu, correct historical context, and include a linguistic hypothesis concerning the languages spoken by these ancient populations.

UN talks in Mongolia expose growing drought crisis as climate impacts worsen www.thestar.com.my

Representatives from nearly 200 countries wrapped up United Nations desertification talks in Ulaanbaatar, Mongolia recently, seeking ways to keep land productive as climate change heats the planet and degraded soils and landscapes lose their ability to hold water, produce food and support livelihoods.

Up to 40% of the world’s land is degraded, according to the UN Convention to Combat Desertification, which organises the biennial talks.

Droughts are also emerging in areas that were not considered highly vulnerable a decade ago, said Yasmine Fouad, the convention’s executive secretary.

“Drought is coming coupled with the impact of climate change,” Yasmine said. “It’s becoming more frequent, more intense and more prolonged.”

Countries left Ulaanbaatar without resolving one of the talks’ key issues – whether to create a legally binding global drought agreement – postponing a decision until the next round of talks in Egypt in two years.

The issue had already been deferred at the previous meeting two years ago.

Healthy soils absorb and store water, helping crops, grasslands and natural ecosystems survive dry periods.

Degraded soils shed water more quickly and lose productivity, making communities more vulnerable when temperatures climb or rainfall becomes erratic, according to land experts.

“You cannot maintain healthy soil without managing your water,” Yasmine said.

“And you cannot say we have sustainable water management without ensuring that your soil and your land is OK.”

The connection between land and water is especially important for agriculture.

Joao Campari, global leader for food and agriculture at WWF International, said treating land and water as separate systems overlooks the basic conditions needed for food security.

“If you don’t have water, you don’t have agriculture. If you don’t have land, you don’t have agriculture,” he said.

The pressure on land is expected to grow as demand for food increases.

According to UN reports, with the world’s population growing, the world will need to produce 50% more food than it did in 2012 by 2050.

But expanding production by clearing grasslands, savannas or other natural areas can worsen land degradation, releasing carbon from soils and reducing the ability of landscapes to store water.

Land degradation can also worsen sand and dust storms. Yasmine said that while the storms are carried through the air, their roots are often on the ground, where unsustainable land use leaves soil exposed.

Restoring vegetation and improving land management can help keep soil in place and reduce the amount swept up by strong winds.

The 12-day conference launched a rangelands initiative bringing together US$1.2bil (RM4.83bil) across 45 projects. Yasmine said the Asian Development Bank also announced US$2bil (RM8.05bil) for efforts to combat land degradation in the Asia Pacific region.

Rangelands – including grasslands, savannas and other areas used by grazing animals and pastoral communities – cover 54% of the Earth’s land surface and support around 2 billion people, according to the UNCCD.

Campari said grasslands, savannas and rangelands are being converted to other uses at roughly four times the rate of forests.

Because they hold large amounts of carbon in their soils, their destruction can release greenhouse gases to the atmosphere even when few trees are being cut down.

“They contain twice the carbon that is in the atmosphere,” Campari said. “So when you clear these spaces to produce food, it means that all this carbon leaves the soil and enters the atmosphere.”

Challenging target

An estimated US$355bil (RM1.426tril) a year is needed through 2030 to meet global land restoration commitments, but current investment is about US$77bil (RM310bil), leaving a gap of US$278bil (RM1.19tril) annually. Private finance accounts for only about 6% of global investment in land restoration, according to UN reports.

The challenge is not only raising money but making it available before drought becomes a disaster.

More than 70 countries now have national drought plans, up from three in 2013, but climate experts say plans often lack the funding needed to turn early warnings, water management, restoration and agricultural adaptation into action.

Yasmine said governments need to move from drought plans to investment plans, bringing private companies, local communities, women and young people into national platforms that can develop projects and attract financing.

A new Drought Resilience Investment Facility, announced earlier this week in Ulaanbaatar, aims to mobilise up to US$400mil (RM1.61bil) in public and private capital for projects involving water security, sustainable agriculture, nature-based solutions and land restoration.

For Esther Penunia, secretary general of the Asian Farmers Association, the inability to settle the legal question around drought should not become an excuse for delay.

“We cannot wait for COP18 for solutions,” she said. “We know we have solutions and we can do them as long as we have the necessary resources.” – AP

Singapore and Mongolia to Accept Carbon Credit Project Applications from 30 October 2026 www.indexbox.io

Singapore and Mongolia are moving from a framework agreement on carbon credits to accepting project applications, according to a speech by Minister of State for Energy, Trade and Industry Foo Cexiang at the Mongolia-Singapore Business Forum. The minister told the forum that the two countries will begin accepting applications for carbon credit projects under their Implementation Agreement from 30 October 2026. Foo said Mongolia adopted its first Climate Change Law in July, establishing a domestic legal framework for climate action that covers carbon markets and climate finance. He said this provides a foundation for the two countries to operationalise their Implementation Agreement on carbon credits cooperation under Article 6 of the Paris Agreement, which creates a framework for collaboration on mitigation projects that support climate goals and sustainable development. The minister also noted that Mongolia adopted its Law on Economic Freedom in July alongside reforms to its investment framework. According to Foo, those reforms strengthened investor protection, improved dispute-resolution mechanisms, streamlined regulatory requirements and expanded market access for foreign investors, including in renewable energy, data centres and artificial intelligence. Foo framed the forum around three elements he said would drive business ties: confidence, connections and conviction. On confidence, he said businesses invest when rules are clear, contracts are honoured and the operating environment remains stable enough for long-term decisions, which he described as especially important for clean energy, digital infrastructure and carbon markets. On connections, Foo said the Singapore Business Federation and the Mongolian National Chamber of Commerce and Industry were signing a Memorandum of Understanding at the forum to strengthen their partnership. He said he hoped the agreement would encourage businesses represented by both federations to seek like-minded partners, and that its value must extend beyond organising forums to creating partnerships, investments and opportunities. Foo said the Singapore Business Federation led a business mission to Mongolia in June involving Singapore companies in food and beverage, professional services, education and energy, and that the mission generated business leads which participating companies are pursuing. On conviction, Foo said governments can build confidence and chambers can build connections, but neither can invest capital, develop projects commercially or sign commercial agreements, which he said businesses must do. He described the two economies as complementary, with Mongolia holding natural resources, abundant land and renewable energy potential, while Singapore brings finance, professional services, technology, project development and access to global and regional markets. Foo said carbon markets are a promising area where these strengths converge, citing Mongolia's potential for mitigation projects including renewable energy and nature-based solutions, and Singapore's ecosystem of companies that can develop, finance and commercialise such projects amid demand for high-quality carbon credits. He said he was aware of a consortium of Singapore and Mongolian companies exploring nature-based carbon projects in Mongolia, with Singapore partners contributing project development and technical expertise and Mongolian partners bringing local knowledge, networks and on-the-ground capabilities. Foo also recalled that Singapore and Mongolia established diplomatic relations 56 years ago, and that then-Prime Minister Lee Hsien Loong became the first Singapore Prime Minister to make an Official Visit to Mongolia in 2016, when then-President Tsakhia Elbegdorj presented him with a Mongolian horse that Lee later named Bintang Temasek. Foo said the name combines the Malay word for star with the ancient name for Singapore, and that the horse remains a symbol of friendship between the two countries. He said the challenge now is to translate that friendship into tangible investments, projects and long-term partnerships, adding that governments will continue to build confidence while business communities strengthen connections and seize opportunities.