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    

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

NEWS

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Mongolia registers a record number livestock www.news.mn

Mongolia registered 71.1 million head of livestock, a record high since the nomadic country began a livestock animal census in 1918, said a senior expert of the National Statistics Office (NSO).
A preliminary result of the annual livestock census by the NSO showed that the number of livestock in 2022 increased by 3.8 million, or 5.6 percent, from the previous year.
Sheep accounted for 46.0 percent of all livestock, goats 38.8 percent, cattle 7.7 percent, horses 6.8 percent and camels 0.7 percent.
Mongolia is one of the world’s last surviving nomadic countries. The promotion of livestock husbandry is seen as the most viable solution to diversify the landlocked country’s mining-dependent economy.
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Mongolia to rebuild ancient capital of Kharkhorum www.news.mn

Mongolian President U.Khurelsukh issued a decree to rebuild the country’s ancient capital of Kharkhorum.
The move aims to create conditions for citizens to live in a healthy and safe environment, increase access to basic social services, reduce urbanization, ensure balanced regional development and restore the valuable historical and cultural heritage, noted the decree.
Kharkhorum was the capital of the Mongol Empire between 1235 and 1260 and of the Northern Yuan dynasty in the 14–15th centuries. Its ruins lie in the northwestern corner of the Uvurkhangai Province of modern-day Mongolia, near today’s town of Kharkhorin and adjacent to the Erdene Zuu Monastery, the probably earliest surviving Buddhist monastery in Mongolia. They are part of the upper part of the World Heritage Site Orkhon Valley.
Under Uguudei and his successors, Karakorum became a major site for world politics.
Kharkhorum is located in the territory of the central province of Uvurkhangai, more than 300 km west of the country’s current capital of Ulaanbaatar.
Ulaanbaatar, home to over half of the country’s 3.4 million population, has been facing such issues as traffic jam, air pollution and housing.
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Mongolia’s coal export exceeds 30 million www.news.mn

Mongolia has boosted coal exports to over 30 million tonnes this year. A total of 30,295,500 tonnes of coal have been exported since the beginning of 2022, which is 90% more than last year.
Frequent lockdowns along the China-Mongolia border due to COVID infections slashed Mongolia’s coal exports to 15.94 million tonnes last year, less than half of the normal levels of above 30 million tonnes between 2017 and 2020.
With COVID situation normalized and expected improved of logistics, coal-rich Mongolia boosted coal exports to China, its closest neighbor and the largest target market. Mongolia boasts proven coal reserves of 33.27 billion tonnes and geological resources of 173.5 billion tonnes. The country’s coking coal would have the most advantageous resources to compete with seaborne and Chinese domestic supplies in the Chinese market.
The railways connected with Chinese border crossings also helped lower logistics cost and increase competitiveness of Mongolian coal. Rail lines such as Tavantolgoi-Gashuunsukhait and Zuunbayan-Khangi commissioned in 2022.
Other planned rail lines like 1,255-km-long Artssuuri-Nariinsukhait-Shiveekhuren, which would connect Russia, Mongolia and China and may open route to coking coals of Gobi Altai, Bayan Khongor and South Gobi provinces. The 150km-long Choibalsan-Khuut line could help increase lignite coal exports.
Meanwhile, the quality of Mongolian coking coal is being improved with commissioning of coal washing plants. Total capacity of dry and wet processing has achieved over 60 million tonnes currently and may increase to over 100 million tonnes in coming years.
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National minimum wage rises to MNT 550 thousand www.montsame.mn

The decision of the National Tripartite Committee on Labor and Social Partnership to increase the minimum wage came into effect yesterday.
As a result, the salary of 73.2 thousand people, 9.7 percent of all social insurance premium payers, has increased from MNT 420.000 to MNT 550,000 or by 31 percent.
Furthermore, the National Statistics Office reported that 66.2 thousand employees who pay social insurance premiums have a salary of more than MNT 3 million.
 
 
 
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Export Performance of Mineral Products Reaches 108 percent www.montsame.mn

Between December 24-30, 1.011.5 thousand tons of coal were exported by 7.776 trucks, and 1.646 wagons across the border of Mongolia, which is six times higher amount than the same period of 2021.
In 2022, Mongolia exported a total of 30.295.5 thousand tons of coal. The figure shows the increase of 90 percent compared with the same period of 2021.
Copper: In 2022, 1.409.6 thousand tons of copper concentrate were exported, which is an 11.3 percent growth compared to the same period of 2021.
Iron ore: 10 trucks and 919 wagons, or a total of 4.607.2 thousand tons of concentrate were exported in 2022, which decreased by 35 percent from the same period of 2021.
Gold: The Bank of Mongolia has purchased 22.50 tons of gold as of the third week of December, 2022, which is a 9.4 percent increase compared to the same period of 2021, according to the Ministry of Mining and Heavy Industry.
The total export of mineral products averaged 108 percent. Specifically:
Coal 168.3%
Copper concentrate 116.2%
Iron 91.1%
Gold 112.5%
Petroleum 73.5%
Zinc 137.6%
Fluorspar 55.9%
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Mongolia warns of heavy snow, snowstorms www.xinhuanet.com

Mongolia's National Agency for Meteorology and Environmental Monitoring on Monday issued a warning of heavy snow and snowstorms in the eastern parts of the country.
The extreme weather is expected to hit areas such as Sukhbaatar, Khentii and Dornod provinces on Monday and Tuesday, said the weather monitoring agency in a statement, urging drivers and nomadic herders to take extra precautions against possible disasters.
It said at least 144 soums of 11 provinces of the nomadic country are likely to experience "dzud" or "near-dzud" conditions this winter.
Dzud is a Mongolian term to describe a severely cold winter when a large number of livestock die due to the ground being frozen or covered by snow.
Currently, about 70 percent of the Mongolian territory has been covered with a layer of snow up to 50 cm thick.
Mongolia's climate is typically continental with long and frigid winters. A temperature of minus 25 degrees Celsius is normal during winter. Unstable weather events have become common in the country throughout the year.
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Bell-ringing Ceremony Held to Issue IPO of MSE www.montsame.mn

The bell-ringing ceremony to issue the IPO of the Mongolian Stock Exchange (MSE) state-owned company was held today, December 26, 2022. Minister of Finance B. Javkhlan rang the bell and Chairman of the Financial Regulatory Committee Mongolia D. Bayarsaikhan, Head of the Government Agency for Policy Coordination on State property B. Tsengel, CEO of the MSE Kh. Altai and other officials attended the ceremony.
Emphasizing the MSE, fully state-owned since its inception in 1991, has been playing an important role in the history of the Mongolian financial sector over the past 30 years, B. Javkhlan, Member of the State Great Khural (Parliament) and Minister of Finance, stressed that a new historical era is coming with the development of the most optimal and bold model for the next ten years.
"In order to create the basic economic conditions and successfully implement the strategic development policies, the State Great Khural and the Government approved the the "Vision-2050”, long-term development policy of Mongolia. Thus, the creation of transparent and efficient companies with disciplined financial governance through public control and the work of reducing the state's share and participation by offering shares of state-owned enterprises to the public is being organized step by step.
B. Javkhlan: By trading the Mongolian Stock Exchange shares, public participation and control will increase in the market.
"We have successfully made the first step towards achieving our long-term development goal. The parliament made a policy decision that will have a great positive impact on the development and prosperity of Mongolia. This is the State Great Khural Resolution No. 16 to make a total of 25 state-owned companies and state-owned banks public within 2022-2023.” said B. Javkhlan.
During the bell-ringing ceremony, Kh. Altai, CEO of the Mongolian Stock Exchange said, "According to the law on state and local ownership, a person and his/her related parties cannot own more than 5 percent of the company when it changes from state-owned to public. Also, citizens with political affiliations cannot own shares. So, the Mongolian Stock Exchange is free from any political influence and there is no risk that any company will own its shares. This means that in the real sense, it is the beginning of the transition to public control. This is a major event in that the MSE meets international standards.”
Mr. D. Bayarsaikhan (Chairman of FRC Mongolia) indicated that "2022 was a productive year full of achievements for the capital market of Mongolia. In particular, the Banking Reform is being implemented successfully within the framework of the Amendments to the Banking Law. Systemically important banks including the State Bank and the Golomt Bank issued IPOs and raised MNT144.2 billion. The State Bank became the first open joint-stock company among systemically important banks, and its trade order exceeded 100% on the first day the stock was offered. Another important event that happened in the capital market this year is the 'Mainstream for the public trading of shares of state-owned legal entities in 2022-2023 through the exchange' approved by the Parliament."
"Accordingly, the MSE is planning to raise MNT11.9 billion by offering 34% of its shares to the public. In the meantime, the development of the Mongolian capital market began with the privatization of state property more than 30 years ago, and Mongolia shifted from a centrally planned economy to a free economy. The past 30 years have been a combination of successes and failures, and a constantly growing capital market with a value of MNT6.7 trillion was created. Privatization of state-owned companies not only improves the organization's efficiency, competitiveness, and governance but also promotes the national economy and financial market."
Finally, Mr. D. Bayarsaikhan highlighted that the FRC will pay attention to developing a multi-pillar and inclusive financial market promoting sustainable development.
 
 
 
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Draft Law on Casino Submitted to State Great Khural www.montsame.mn

Minister of Justice and Home Affairs Kh. Nyambaatar today held a press briefing after submitting the draft laws on casino, betting, and lottery to the State Great Khural.
At the outset of his press briefing, the Minister emphasized that the draft laws were submitted in connection with the Government’s decision to declare 2023-2025 as “The Years to Visit Mongolia”.
“The Law on Casino was repealed shortly after it was approved by the State Great Khural in 1998 due to allegations of corruption and abuse of power. However, the approval of the law is now significant for Mongolia as it aims to boost its tourism sector”, highlighted the Minister.
Once the law enters into force, the casino operator will be selected from those who pledged to invest no less than USD 300 million in Mongolia.
As drafted in the law, 40% of the casino's daily profits will be paid to the Mongolian Government as income tax, and after 30 years, the ownership of 50% of the tables will be relinquished to the Government. In addition, the law will prohibit the transfer of the license once it is obtained.
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‘Mindgolia’ showcases globally the world-class digital solutions www.news.mn

The Government of Mongolia launched its new online procurement portal – www.mindgolia.mn – reducing costs and bureaucracy related to the procurement of software solutions and providing a major boost to the country’s thriving tech sector.
As part of the Mongolian economy’s transition ‘from mining to mind’, ‘Mindgolia’ will showcase globally the world-class digital solutions that the Mongolian tech industry has been developing for many years. Open to both the private and public sectors, the new marketplace is also designed to strengthen links between the country’s tech industry and global investors, as well as providing a level playing field for Mongolian tech start-ups to compete with more established players.
Mongolia’s USD 41 billion ICT industry is growing rapidly, a trend due to continue in the years ahead due to the roll-out of public private partnerships such as ‘Mindgolia’. More than 300 companies and 2,000 young engineers work on the development of technology solutions and software production, and Mongolian tech start-ups such as AND Global with its ONDO Space and satellite technology are increasingly well-recognised in the region and raising funds globally.
The strengthening of Mongolia’s tech sector is a key part of the Government’s New Recovery Policy, aimed at enhancing the country’s growth rate and diversifying away from mining and towards emerging and high-growth areas in the knowledge economy.
‘Mindgolia’ features 180 products from over 100 companies, with this number increasing daily. Around 350 software developers, and representatives of around 250 buyers and users of government organizations, ministries, agencies, and state-owned companies are participating in the platform. ‘Mindgolia’ will help support the growing number of government-led digital transformation projects in the country, with 904 such projects totaling USD 267 million taking place between 2012 and 2021, and a further 357 projects worth USD 290 million expected to be completed between 2022 and 2024.
‘Mindgolia’ was inspired by international practice in the area of public procurement, including the UK Government’s Crown Commercial Service and their ‘Digital Marketplace’ platform. An English language version of ‘Mindgolia’ will be launched before the end of 2022.
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Mongolian Mining’s USD 100 Million cash tender offer www.news.mn

Davis Polk advised Mongolian Mining Corporation (MMC) and Energy Resources LLC (ER), an indirect wholly owned subsidiary of MMC, in connection with a cash tender offer by ER to purchase up to USD 100 million in aggregate principal amount of its outstanding 9.25% guaranteed senior notes due 2024 pursuant to a ‘modified Dutch auction’ procedure.
MMC is a high-quality coking coal producer and exporter engaged in the open-pit mining of coking coal at deposits in the South Gobi province of Mongolia. It is listed on The Stock Exchange of Hong Kong Limited and was the first Mongolian company to offer its shares internationally.
The Davis Polk corporate team included partner Gerhard Radtke and registered foreign lawyers Xin (Sheen) Xu and E.Mendtuvshin (Mendee) . The tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Members of the Davis Polk team are based in the Hong Kong and London offices.
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