1 MONGOLIA PM FACES LIKELY CONFIDENCE VOTE AMID CORRUPTION CLAIMS WWW.AFP.COM PUBLISHED:2025/06/02      2 RIO TINTO FINDS ITS MEGA-MINE STUCK BETWEEN TWO MONGOLIAN STRONGMEN WWW.AFR.COM PUBLISHED:2025/06/02      3 SECRETARY RUBIO’S CALL WITH MONGOLIAN FOREIGN MINISTER BATTSETSEG, MAY 30, 2025 WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/02      4 REGULAR TRAIN RIDES ON THE ULAANBAATAR-BEIJING RAILWAY ROUTE TO BE RESUMED WWW.MONTSAME.MN PUBLISHED:2025/06/02      5 MONGOLIAN DANCE TEAMS WIN THREE GOLD MEDALS AT THE WORLD CHAMPIONSHIP CHOREOGRAPHY LATIN 2025 WWW.MONTSAME.MN  PUBLISHED:2025/06/02      6 RUSSIA STARTS BUYING POTATOES FROM MONGOLIA WWW.CHARTER97.ORG PUBLISHED:2025/06/02      7 MONGOLIA BANS ONLINE GAMBLING, BETTING AND PAID LOTTERIES WWW.QAZINFORM.COM PUBLISHED:2025/06/02      8 HOW DISMANTLING THE US MILLENNIUM CHALLENGE CORPORATION WILL UNDERMINE MONGOLIA WWW.THEDIPLOMAT.COM PUBLISHED:2025/05/30      9 ORBMINCO ADVANCES BRONZE FOX PROJECT IN KINCORA COPPER PROJECT IN MONGOLIA WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/05/30      10 MONGOLIA SOLAR ENERGY SECTOR GROWTH: 1,000 MW BY 2025 SUCCESS WWW.PVKNOWHOW.COM PUBLISHED:2025/05/30      ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ, С.БЕРДЫМУХАМЕДОВ НАР АЛБАН ЁСНЫ ХЭЛЭЛЦЭЭ ХИЙЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     Н.НОМТОЙБАЯР: ДАРААГИЙН ЕРӨНХИЙ САЙД ТОДРОХ НЬ ЦАГ ХУГАЦААНЫ АСУУДАЛ БОЛСОН WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/02     Л.ТӨР-ОД МҮХАҮТ-ЫН ГҮЙЦЭТГЭХ ЗАХИРЛААР Х.БАТТУЛГЫН ХҮНИЙГ ЗҮТГҮҮЛЭХ ҮҮ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ЦЕГ: ЗУНЫ ЗУГАА ТОГЛОЛТЫН ҮЕЭР 10 ХУТГА ХУРААЖ, СОГТУУРСАН 22 ИРГЭНИЙГ АР ГЭРТ НЬ ХҮЛЭЭЛГЭН ӨГСӨН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООЖ, ШАЛГАНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ГАДНЫ КИБЕР ХАЛДЛАГЫН 11 ХУВЬ НЬ УИХ, 70 ХУВЬ НЬ ЗАСГИЙН ГАЗАР РУУ ЧИГЛЭДЭГ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/02     НИЙТИЙН ОРОН СУУЦНЫ 1 М.КВ-ЫН ДУНДАЖ ҮНЭ 3.6 САЯ ТӨГРӨГ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     ГОВИЙН БҮСИЙН ЧИГЛЭЛД УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30     СОР17 УЛААНБААТАР ХОТНОО 2026 ОНЫ НАЙМДУГААР САРЫН 17-28-НД БОЛНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/30     НИЙСЛЭЛИЙН ТӨР, ЗАХИРГААНЫ БАЙГУУЛЛАГЫН АЖИЛ 07:00 ЦАГТ ЭХЭЛЖ 16:00 ЦАГТ ТАРНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30    

Category

Events

Events

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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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K-culture meets the Silk Road as Korean brands and lifestyles take root in Mongolia www.koreajoongangdaily.joins.com

Turn any street corner in the Mongolian capital's downtown, and you can spot Korea's leading convenience store chains — CU and GS25.
Korean influence is certainly having an impact on urban Mongolians, from daily essentials to language and pop culture.  
When asked questions in English, locals replied in fluent Korean. K-pop could be heard blasting in convenience stores, and Korean bakery chain Tous Les Jours was seen throughout the city. 
The Korea JoongAng Daily was greeted by a familiar scene when visiting a CU store on Amarsanaa Road in downtown Ulaanbaatar on Monday. 
The CU store had outdoor signage and an interior layout identical to CU stores in Seoul. As well as a counter plastered in yellow-green and snacks displayed near the counter, the store's signage came in a mixture of purple and yellow-green, just like in Korea. 
The nationality of the employees and some of the products on the shelves were the only differences. Along with staples of Korean convenience stores such as Korean instant noodles, beer, rice balls and almonds, the store had some locally sourced products.
As of the end of March, CU had 467 branches in Mongolia, indicating Korea's growing presence in the country. 
Is this Ulaanbaatar or Seoul?    
In the city’s Khan Uul District, hypermarket chain Emart was bustling with locals regardless of age when the Korea JoongAng Daily visited on Monday afternoon. The parking space was full, and the shelves for Korean foods were relatively empty.
Emart, a leading Korean retailer owned by the Shinsegae Group, has five branches across Ulaanbaatar and aims to open five more by 2030. The retailer entered the Mongolian market in 2016 in partnership with Altai Holding, a Mongolia-based retail group that operates and manages Emart branches in Mongolia.
Inside the store, some students swiftly grabbed banana-flavored milk made by Korean food manufacturer Binggrae from the fridge before it sold out. Only a few packages of fish cakes produced by another Korean food company, Chungjungone, were left, while other food piled up.
“I visited Emart every day when I was in Korea, and that experience led me to shop at Emart in Mongolia,” Khulan, a young woman who stayed in Korea for six months last year, said in Korean while shopping for groceries at the retailer.
A spokesperson from Emart headquarters in Korea told the Korea JoongAng Daily that Mongolian consumers display a high preference for Korean culture, adding that its Mongolian branches allow local people to indulge directly in Korean culture.
Korean influence becomes a lifestyle  
However, Emart has the grander ambition to shape mindsets and behavior "in a healthier way," said Javzmaa Lkhagvasuren, CEO of Emart in Mongolia. 
Mongolian Emart executives added library-themed spaces to Ulaanbaatar. In this space, Mongolian visitors can freely read Korean and Mongolian books displayed on the shelves. There were books for children and for visitors with deeper academic interests, such as professional journals. New books are added to their collection each year.
“I believe that providing an environment where consumers can easily read books will empower them and the country at the same time,” Lkhagvasuren told reporters, adding that the strategy helped increase consumer satisfaction.
Lkhagvasuren also said Mongolian branches plan to list 100 healthy dishes and reduce the amount of liquor in the stores.
While Emart tries to reshape Mongolian lifestyles, Korean influence has also reached their homes.
About a mile from the Emart branch, high-rise apartments along the Tuul Gol River that crosses the southern part of urban Ulaanbaatar showed that contemporary Mongolians are settling into Korean-style apartments. This trend has been observed since the 2010s, Kim Ki-sun, a professor of Mongolian studies at Hankuk University of Foreign Studies, said. 
Apartments in Korea are largely box-shaped buildings of 15 to 20 floors with several units on each floor. Apartment complexes usually have several buildings with public amenities such as gyms, saunas and libraries for residents.
There were several Korean-style apartment buildings under construction in Ulaanbaatar. The Korea Trade-Investment Promotion Agency said some 10 apartment complexes in the Mongolian capital were built by Korean construction companies. 
“Mongolians who have been in Korea are fascinated by convenient amenities in Korean apartments, such as gyms, saunas and playgrounds for children,” Kim said, noting that locals admire Korean apartments.
Kim said Mongolian students, migrants and laborers who have lived in Korea, estimated to be around 350,000 over the last 35 years, played a crucial role in spreading Korean-style apartments in Mongolia. He noted that their experience in Korea made construction companies duplicate structures and features of Korean apartments in Ulaanbaatar. 
Sister cities, Seoul streets
Acceptance of Korean culture can be attributed to the long shared history and friendly relations between the two countries, Mongolian experts said.
Ulaanbaatar has a 2.1-kilometer-long (1.3 miles) road called “Seoul Street.” 
A pavilion decorated with Korean roof tiles stood in an open space. Lamps along the street were decorated with Seoul's city symbols. Several Korean eateries had signboards written in Korean, including the one selling grilled pork. 
The street name was coined after Seoul and Ulaanbaatar became sister cities in 1995, a millennium after the royal court during the Koryo Dynasty (918-1392) reportedly sent 10 students to Mongolia in 995. According to Prof. Kim, the record marks the start of the two nations' shared history.
“Korea is one of Mongolia's most prioritized and friendly neighbors,” said Dashdorj Sainbilegt, a Korean studies professor at the National University of Mongolia.
She also said young Mongolians perceive Korea as geographically close since travel times within Mongolia are almost equal to the two or three hours it takes to fly between Seoul and Ulaanbaatar.
“More than 1,000 undergraduates take Korean language courses yearly,” said Sainbilegt. “Elementary and junior high schools in Mongolia now provide Korean language classes as an elective course.”
Korean language courses have become widely available, ranging from college academic courses to short-term evening courses offered by the three King Sejong Institute branches in Mongolia. Korea's Ministry of Culture, Sports and Tourism manages the institute to support Korean linguistic education overseas.  
Still, Mongolians believe that there is unexplored potential for synergy between Korea and Mongolia.
Sainbilegt said she hopes Korean influence will expand beyond consumer culture and the service industry as the traditional nomadic country urbanizes.
“I hope Korean corporations will actively participate in Mongolia’s infrastructure-building projects to transfer their expertise and train the Mongolian work force, ultimately strengthening bilateral ties between the two countries." 
BY LEE SOO-JUNG [lee.soojung1@joongang.co.kr]

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MSM Group became authorized dealer of Snap-on in Mongolia www.msmgroup.mn

MSM Group is pleased to announce that we have officially acquired the authorized dealership rights for the world-renowned Snap-on and its sub-brands in Mongolia, transitioning from the previous representative, “TES Industrial” LLC. This marks an exciting new chapter as we continue to expand and strengthen our operations within the industrial sector.
Snap-on was founded in 1920 and has since become a global leader in designing and manufacturing premium-quality hand tools, power tools, workshop equipment, diagnostic systems, and productivity solutions. Recognized for their precision, durability, and innovation, Snap-on products are trusted by professionals across various industries including automotive and heavy-duty equipment.
With this new partnership, MSM Group is committed to delivering Snap-on’s world-class solutions to the Mongolian market, further enhancing the efficiency and productivity of local industries and we look forward to serving our customers with the excellence and expertise that both MSM Group and Snap-on proudly represent.

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Mongolian LGBTQ youth fight for recognition through music, comedy www.cbs19news.com

Mongolian influencer Anudari Daarya looks effortlessly glamorous and carefree in her social media posts -- but the classically trained pianist's road to acceptance as a transgender artist has been anything but easy.
She is one of a growing number of Mongolian LGBTQ youth challenging stereotypes and fighting for acceptance through media representation in the socially conservative country.
LGBTQ Mongolians often hide their identities from their employers and colleagues for fear of discrimination, with a survey by the non-profit LGBT Centre Mongolia showing that only 20 percent of people felt comfortable coming out at work.
Daarya, 25, told AFP she has faced discrimination since she began publicly living as a woman at her arts university, where she said fellow students shunned her and she graduated without a single friend.
"I naively believed future artists and art teachers would embrace my transition," she said. 
After graduation, Daarya applied for multiple positions. 
She said she waited to hear back about teaching hours at Mongolia's State Conservatory for three months before a contact told her that "the administration is saying someone like you can't work with children". 
The Conservatory said in a statement to AFP they had realised they did not have a need to hire new teachers the year Daarya applied. 
It selects staff "based on their skills and education without discriminating against religion, sexual orientation, and so on", it said. 
Daarya's fortunes changed last year when a video of her giving a private piano lesson went viral.
The online attention transformed her career, with Daarya now working as a model for Mongolian fashion brands in addition to teaching and performing music. 
- Power of storytelling -
For Khulan Batbaatar, a lesbian non-binary comedian who performs under the name Kena, performing on stage is a way to tell marginalised communities' stories.
Kena is a member of "Big Sistas", a comedy project founded by human rights activist Zolzaya Batkhuyag.
The Big Sistas are a rarity in the Mongolian comedy scene, which is dominated by men and often features sexist jokes.
Kena spends their time on stage telling relatable jokes about New Year's resolutions and financial troubles, while also sharing stories about their experiences of love and sex as a lesbian.
"When I was growing up, I never saw a happy LGBTQ person," Kena told AFP.
"Every person I used to see as a role model suffered and had a tough life because of homophobia."
As a comedian, Kena says they want to "show the teenagers who follow me as a role model that we can lead a happy and successful life".
Zolzaya said she started "Big Sistas" to raise awareness of gender diversity and the fight for equality.
"When we simply talk and innocently complain (about minorities' struggle), people don't really get it," Kena told AFP.
"But when we talk about our problems in jokes, when your storytelling is polished -- it really works."
- Tough reality -
While performers like Daarya and Kena help provide role models for LGBTQ Mongolians, the reality of life for many in the country remains bleak, activist Tseveenravdan Tsogbat told AFP.
Tseveenravdan is the director of Youth Lead Mongolia, which advocates for the health and rights of sexual minorities.
Discrimination in education settings often leads Mongolian LGBTQ teens -- especially transgender youths -- to drop out of school or be kicked out of their homes by their parents.
This limits their career prospects, forcing LGBTQ youths into minimum-wage jobs where they struggle to afford rent and food.
According to a 2022 survey by LGBT Centre Mongolia, 27 percent of LGBTQ Mongolians made less than the national minimum wage of 420,000 tugrik ($124) a month.
"That's why we seriously tell each other not to come out in the winter," Tseveenravdan said, when temperatures in the country can drop to minus 40 degrees Celsius (minus 40 Fahrenheit).
"When the public sees Daarya, they think the life of transgender people must be gorgeous... but people have no clue about the reality for sexual minorities," he added.
But Anuka Anar, a 22-year-old non-binary resident of Ulaanbaatar, was grateful that there are now a few public figures open about their gender identity.
"Some parents get worried and tell their children to hide who they are," Anuka told AFP.
"They assume homophobia will make their children's lives miserable forever, but when they see public figures from our community, they realise their children can be loved too."

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The Cabinet of Mongolia Adopts Resolution on Measures to Increase Coal Exports www.montsame.mn

During its regular session on April 16, 2025, the Cabinet of Mongolia adopted a Resolution on Measures to Increase Coal Exports.
Under the Resolution, Minister of Mongolia and Chair of the National Committee for Port Revival Tulga Buya, the Minister of Road and Transport Delgersaikhan Borkhuu, and relevant officials were instructed to promptly organize the immediate passing of coal, purchased by enterprises that have signed a long-term Coal Sale and Purchase Agreement with "Erdenes Tavan Tolgoi" JSC, through a special gate. The management of "Erdenes Tavan Tolgoi" JSC was also assigned to prepare coal for sale to enterprises that have signed the Agreement, increase production, and carry out shipments smoothly and promptly.
The coal loading and unloading area of Mongolia's main export port, the Gantsmod Port, has been overloading due to enterprises not wishing to sell their coal due to declining coal prices and uncertainty, which is causing the slowdown of exports. In the first quarter of this year, coal exports of Mongolia amounted to 17.5 million tons, a decrease of 3.3 percent compared to the same period last year. In addition, the decline in coal prices is negatively affecting the trading of mining products on the exchange. “Erdenes Tavan Tolgoi” JSC held a total of 47 exchanges on the exchange in the first quarter of this year, of which 12 were successful and 35 were unsuccessful.
Therefore, the Resolution on Measures to Increase Coal Exports was issued by the Cabinet so that the coal sold under the long-term Coal Sale and Purchase Agreement, concluded by the “Erdenes Tavan Tolgoi” JSC, promptly passes through a special border crossing.

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Trump’s Second Coming: Mongolia Watches the Chaos With Caution www.thediplomat.com

For Mongolia – a small democracy navigating life between two resurgent authoritarian powers – Trump’s worldview poses a silent but serious challenge.
As the world is grappling with the shocks of Donald Trump’s return to the White House, Mongolia finds itself reflecting on the implications of a second Trump presidency – not as an abstract geopolitical puzzle but as a small democracy navigating life between two resurgent authoritarian powers.
Trump’s first presidency was not merely unorthodox; it disrupted decades of assumptions about U.S. global leadership. His transactional view of alliances, affection for strongmen, and erratic policies deeply unsettled many in Washington and abroad. For Mongolia, a country whose foreign policy is anchored in its “third neighbor” strategy to diversify relationships beyond China and Russia, Trump’s worldview posed a silent but serious challenge.
Mongolia has no illusions about its geographic constraints. Our two neighbors – Russia and China – have increasingly aligned in opposition to the Western liberal order. Trump, however, seems determined to exploit perceived rifts between them. His desire to court Russia in a bid to isolate China ignores the reality that Moscow and Beijing are now, for all practical purposes, strategic brothers. Their coordination – from military exercises to diplomatic posturing – has only deepened since Trump first took office. To many Mongolian observers, it is clear that Trump has misread the nature of their partnership. Worse, his misreading carries global consequences.
Trump’s foreign policy seems to be often guided less by doctrine than impulse. His open admiration for leaders like Russia’s Vladimir Putin, his public disdain for multilateralism, and his skepticism toward traditional alliances all suggested a United States increasingly willing to retreat from its global responsibilities. For Mongolia, that raised concerns. Our survival strategy hinges on an engaged international community and a predictable rules-based order. The Trump-era unpredictability shook that foundation.
Beyond geopolitics, Trump’s economic nationalism is rattling small economies worldwide. His tariff wars and contempt for trade agreements are injecting needless volatility into global markets. Mongolia, a resource-exporting nation vulnerable to external shocks, is watching warily as China-U.S. tensions escalate under Trump’s leadership. If such conflicts continue to intensify without an off-ramp for either side, Mongolia’s economic stability could again be collateral damage.
Moreover, Trump’s personal style – marked by grievance, vengeance, and nostalgia – invites comparisons to autocrats. His continued insistence that the 2020 election was stolen, his attacks on institutions, and his disdain for critics reflect not democratic resilience but democratic backsliding. To those of us in Mongolia working to preserve democratic gains, Trump’s behavior is a cautionary tale.
At home, Trump fractured his nation, remade U.S. politics in his image, and encouraged political violence. Internationally, he pulled the U.S. from key agreements, alienated allies, and undermined trust. As one American analyst put it, Trump left the world with a sense that the U.S. could no longer be counted on.
In Mongolia, we understand the cost of global disarray. We rely on steady diplomacy, open markets, and consistent rules. Trump’s brand of disruption shakes those very pillars. It is emboldening the forces that want to see small democracies like ours squeezed, silenced, or sidelined.
And yet, Mongolia remains pragmatic. We do not choose sides in partisan battles abroad. We will work with any administration that respects our sovereignty, supports our development, and values our democratic voice. But we can only perceive Trump’s adventurism not with enthusiasm, but with unease.
By Bayarkhuu Dashdorj

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Mongolia Considers Acquiring 34% Stake in Eight Potential Strategic Deposits www.news.mn

Mongolia may take a 34% stake in Xanadu Mines Ltd.’s Kharmagtai copper-gold project after a proposal to classify the asset as a strategic deposit was submitted to the government, according to Government’s Plenipotentiary Representative Batzandan Jalbasuren. The move, announced on April 15, could bring the ASX-listed explorer’s flagship asset under partial state ownership if approved.
Strategic deposits in Mongolia are defined as mineral resources critical to national economic and developmental interests. Under existing law, the government can acquire a 34% to 50% stake in such deposits without compensation. Of the 16 deposits currently designated as strategic, seven are state-owned. Lawmakers are now pushing to expand the list to include high-potential assets such as Kharmagtai, and authorities are working to formalize and enforce these rights more actively.
Plenipotentiary Representative Batzandan, appointed to lead the initiative, is focused on expanding the strategic deposit list and determining the appropriate level of state ownership in each case.
Zijin Mining, which owns 19.4% of Xanadu and holds a 50% stake in the Kharmagtai joint venture, had been expected to increase its involvement through a proposed transaction. However, that plan now appears to be on hold as discussions continue.
Under Mongolia’s Mineral Law, no entity may hold more than 34% of the shares in a company that owns a strategic deposit, either directly or through related parties. If Kharmagtai is classified as strategic, this restriction could complicate the existing partnership between Zijin and Xanadu.
According to Batzandan, the proposal includes a total of eight deposits for strategic designation. Alongside Kharmagtai, the list features Bayan Khundii and Altan Nar – two projects owned by Toronto-listed Erdene Resource Development.

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Price of Gold Jumps by USD 693.9 per Ounce Compared to 2024 www.montsame.mn

In the first quarter of 2025, Mongolia traded with 128 countries, with exports reaching USD 3 billion and imports USD 2.5 billion, gaining USD 465.1 million in profit, according to the National Statistics Office of Mongolia.
In the first three months of 2025, imports rose by USD 133.4 million compared to the same period last year. This increase was driven by purchases from foreign countries., These include USD 73.6 million on passenger vehicles, USD 21.9 million on diesel fuel, USD 21.3 million on auto parts, USD 18.3 million on trucks, and USD 11.7 million on cell phones.
Imports consisting of mineral products, vehicles and mechanical products, consumer electronics, vehicles, and spare parts make up 74.5 percent of total imports.
Copper ore and copper concentrate ore exports rose by USD 291.8 million, zinc ore and zinc concentrate by USD 39.7 million, and fluorite and fluorspar by USD 29.3 million.
The price of gold rose by USD 693.6 per ounce and copper ore and copper concentrate by USD 291.5 per ton compared to the same period in 2024.
Coal made up 48.3 percent of exports to the People's Republic of China, and copper and copper concentrate made up 33.5 percent. Raw and refined gold constituted 99.3 percent of total exports to Switzerland.
Iron ore and iron concentrate prices fell by USD 7.6 per ton and coal by USD 47.1 per ton.
In the first three months of 2025, Gashuun Sukhait cross-border railroad port was the main gateway for coal exports, amounting to 49.1 percent. This is down by 3.4 percentage points compared to the same period in 2024. Six countries make up 86.3 percent of the total imports to Mongolia. Specifically, 33.1 percent from China, 27.6 percent from Russia, 13.8 percent from Japan, 4.9 percent from the U.S., 4 percent from Korea, and 2.9 percent from Germany.
Of the total imports from Russia, oil accounted for 76.7 percent. Vehicles made up 81.4 percent of imports from Japan and 10.2 percent from China.

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Mortgage Payment Rate Stands at 97.8 Percent www.montsame.mn

As of the end of March 2025, savings in Tugrug, the national currency of Mongolia, reached MNT 22.1 trillion, which is an increase of MNT 4 trillion compared to the same period of 2024.
Savings made by individuals amounted to MNT 19.1 trillion, while those of enterprises rose to MNT 3 trillion. Foreign currency savings are up to MNT 5 trillion, an MNT 466.6 billion increase compared to the same period last year.
The loan balances for enterprises and individuals are MNT 38.9 trillion as of the end of March, which is an increase of MNT 9.7 trillion compared to the same period last year. The ratio of loan balance by type of borrowers is 59.4 percent by individuals, 37.9 percent by private enterprises, 1.2 percent by government organizations, and 1.5 percent by financial entities.
The performing loans reached MNT 35.3 trillion, an MNT 9.4 trillion increase compared to the same period last year, making up 90.8 percent of the total loan balance.
Watch-list loans are up by MNT 280.7 billion compared to the same period last year, reaching MNT 1.5 trillion. This classification of loans is four percent of the total loan balance.
Non-performing loans are at MNT 2 trillion, MNT 9.5 billion lower compared to the same period in 2024. Although this may seem like a positive sign, it still amounts to five percent of the total loan balance.
Payment balance for mortgage lent to residents by the Mongolian Mortgage Corporation and commercial banks is at MNT 9.7 trillion, which is up by MNT 1.9 billion compared to the same period last year.
MNT 9.5 trillion of the mortgage payment balance is assessed as no-risk loans, which shows that home lending repayment is at 97.8 percent.
The Bank of Mongolia announced the Tugrug's exchange rate to the U.S. Dollar is at MNT 3475.38, a depreciation of MNT 99.2 compared to the same period of 2024. The monthly exchange rate of the Tugrug against the Euro depreciated by MNT 100.1, and is now at MNT 3768.52, while the exchange rate against the Ruble is at MNT 40.74, a depreciation of MNT 4. The average monthly rate for Chinese Yuan to Mongolian Tugrug is MNT 479.56, a depreciation of MNT 10.8.
At the end of March 2025, 12.7 percent of the cash flow was from net foreign assets and 87.3 percent from net domestic assets. The net foreign assets as of March 2025 amounted to MNT 5.3 trillion, according to a preliminary report, which is up by MNT 4.5 trillion compared to the same period in 2024, but lower by MNT 234.3 billion compared to February 2025.

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Beyond borders: Casa Rinaldi expands to Mongolia www.casarinaldi.com

As you know by now, at Casa Rinaldi, bringing the taste of Italy to tables around the world has always been more than just a mission, it’s a way of doing business. With a deep respect for culinary tradition and an eye toward global innovation, our international growth reflects a commitment to meeting food lovers, chefs, and professionals where they are, with products that speak their language and meet their needs.
Today, we’re proud to share a new milestone in this journey: the opening of Casa Rinaldi Mongolia, our newest subsidiary located in the heart of Ulaanbaatar.
A global approach with a local touch
With several international subsidiaries already established, Casa Rinaldi’s presence abroad is a key part of how we continue to evolve as a modern food company. These local entities are more than distribution hubs, they allow us to truly understand and respond to each market’s unique rhythms.
Subsidiaries offer three essential advantages:
Greater control over local operations
Stronger market penetration and visibility
The flexibility to adapt quickly to evolving demands, especially in the foodservice sector
By being on the ground, we’re able to listen, learn, and shape our offering accordingly. Whether it’s developing new formats, adjusting packaging, or curating a product selection tailored to local tastes, our subsidiaries help us remain both consistent and agile.
A new chapter in Ulaanbaatar
The launch of Casa Rinaldi Mongolia is especially meaningful. Italian cuisine is still emerging in the Mongolian market, and we’re proud to be among the first to bring high-quality, Made in Italy products to this part of the world.
With a dedicated commercial structure, warehouse, and team in place, Casa Rinaldi Mongolia will serve both the HoReCa and retail sectors. The goal is clear: to share Italian flavors with more people, while laying the groundwork growth in a market full of potential.
We’re already working with our partners on the ground to understand which products resonate most and how we can expand our assortment to meet local demand. From everyday essentials to specialty ingredients for professional kitchens, we’re ready to bring the Italian table to Mongolia, one ingredient at a time.

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Number of Passengers Crossing Mongolian Border Increases by 290,200 in the First Quarter of 2025 www.montsame.mn

A total of 1,632,600 passenger crossings (duplicated count) were recorded at Mongolia’s borders in the first quarter of 2025, marking an increase of 290,200 compared to the same period in 2024.
Of the 825,100 passengers who entered Mongolia during the first quarter of 2025, 38.1% did so via Zamyn-Uud, 25.5% via Chinggis Khaan International Airport, 9% via Altanbulag, 8.6% via Gashuunsukhait, 4.8% via Shiveekhuren, and 14% through other border checkpoints.
Among the total passengers, 699,500 were Mongolian citizens and 125,600 were foreign nationals, showing an increase of 142,500 Mongolian and 14,700 foreign passengers year-on-year. Of the foreign entrants, 83,700 were men and 41,900 were women. By age group, 65,900 were between 35 and 54 years old, making this the largest group.
In terms of stay duration, 18,800 passengers stayed for up to 10 days, 84,800 for up to 30 days, 1,400 for 60 to 90 days, and 20,600 for over 90 days. By region, 60.2% of foreign nationals came from East Asia and the Pacific, 35.1% from Europe, 1.9% from the Americas, 1.6% from the Middle East, 1% from South Asia, and 0.2% from Africa.
Among the foreign visitors, 42.6% were from China, 30.6% from Russia, 8% from South Korea, 2.3% from Kazakhstan, 2.2% from Japan, and 14.3% from other countries. Compared to the same period in 2024, the number of tourists from Russia increased by 4,700, from China by 9,900, from Japan by 400, and from Kazakhstan by 100, while the number of South Korean tourists decreased by 1,400.
In the first quarter of 2025, 688,100 Mongolian citizens (duplicated count) traveled abroad, an increase of 118,100 compared to the same period of 2024. This rise was primarily driven by an increase of 88,900 travelers to China, 3,400 to Russia, 5,800 to South Korea, and 7,000 to Vietnam.
Of those who traveled abroad, 417,900 were men and 270,200 were women. The majority, 445,300, were aged between 30 and 54. Regarding travel duration, 22,200 stayed for up to 10 days, 641,800 for up to 30 days, 3,400 for 60 to 90 days, and 20,700 for over 90 days.
Of the Mongolian citizens who traveled abroad, 20,300 did so for official/business purposes, while 667,800 traveled for personal reasons. By purpose of travel, 143,200 crossed the border for employment, 110,300 for tourism, and 384,000 for other reasons. Among those seeking employment, 141,400 went to China, with 65,300 entering via Gashuunsukhait, 33,500 via Shiveekhuren, 18,600 via Bichigt, and 25,800 via other checkpoints.
During the same period, a total of 792,400 vehicles (duplicated count) crossed the Mongolian border, an increase of 75,900 compared to the same quarter of 2024. Of these, 43.6% were freight trucks, 31.8% freight trains, 21.5% passenger vehicles, and 3.1% other types. In total, 45.2% of vehicles crossed through Zamyn-Uud, 16.4% via Gashuunsukhait, 8.4% via Shiveekhuren, 7% via Altanbulag, and 23% through other checkpoints.

 

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