1 AMCHAM MONGOLIA CONDEMNS RECENT ASSAULT ON BADRAKH ENERGY EXECUTIVE WWW.ITOIM.MN PUBLISHED:2025/04/24      2 FSS WARNS OF INVESTMENT SCAM IMPERSONATING MONGOLIA'S G BANK FOR HIGH-YIELD BONDS WWW.BIZ.CHOSUN.COM PUBLISHED:2025/04/24      3 STRENGTHENING MONGOLIA-UK PARLIAMENTARY COOPERATION WWW.COMMENTCENTRAL.CO.UK PUBLISHED:2025/04/24      4 DELPHOS ADVISES ON HISTORIC $20 MILLION INVESTMENT FOR FINTECH LENDMN TO PROPEL FINANCIAL INCLUSION IN MONGOLIA WWW.MEDIA-OUTREACH.COM 2 PUBLISHED:2025/04/24      5 CABINET TO SUBMIT A DRAFT LAW TO CHANGE THE DEVELOPMENT BANK OF MONGOLIA TO THE EXPORT-IMPORT BANK OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/04/24      6 CONSTRUCTION OF THE GANTSMOD-GASHUUNSUKHAIT RAILROAD TO BEGIN IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/24      7 CAPITAL MOVING FURTHER AWAY FROM HAPPINESS WWW.UBPOST.MN PUBLISHED:2025/04/24      8 MONGOLIAN NATIONAL MINING ASSOCIATION DEMANDS ACCOUNTABILITY AFTER PROTEST TURNS VIOLENT WWW.GOGO.MN PUBLISHED:2025/04/23      9 MONGOLIA’S INTERIM FREE TRADE DEAL WITH THE EAEU: WHAT’S AT STAKE? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/23      10 IN MEMORY OF HIS HOLINESS POPE FRANCIS WWW.MONTSAME.MN PUBLISHED:2025/04/23      "ТӨГРӨГ НУУРЫН ОРД"-ТОЙ ХОЛБООТОЙ ХЭРГИЙГ ХАМТАРСАН АЖЛЫН ХЭСЭГ МӨРДӨН ШАЛГАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/24     Б.БЕЙСЕН: ӨНГӨРСӨН ЖИЛ ОЛГОСОН 101 ТЭРБУМЫН ХӨНГӨЛӨЛТТЭЙ ЗЭЭЛИЙГ 6 ГУРИЛЫН ҮЙЛДВЭР Л АВСАН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/24     АЗИ ТИВИЙН ДОЛООН ОРНЫ ШАТАРЧИД МОНГОЛД ЦУГЛАРЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/24     ГАДААД ХАРИЛЦААНЫ САЙД Б.БАТЦЭЦЭГ УНГАР УЛСАД АЛБАН ЁСНЫ АЙЛЧЛАЛ ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/24     БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦ ЭНЭ ОНД 893.6 САЯ КВТ.Ц ЦАХИЛГААН ЭРЧИМ ХҮЧ НИЙЛҮҮЛНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/24     ОРОСЫН БАГ УРАН НИСЛЭГИЙН ҮЗҮҮЛБЭРЭЭ ТОЛИЛУУЛНА ГЭВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/24     ОРОН СУУЦ, СУРГАЛТЫН ТӨЛБӨРИЙН ТАТВАРЫН ХӨНГӨЛӨЛТИЙГ ИРГЭДИЙН ДАНСАНД ШИЛЖҮҮЛЖ ЭХЭЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/24     НИЙСЛЭЛИЙН ЗАСАГ ДАРГЫН ДЭРГЭДЭХ 4 ГАЗРЫГ ТАТАН БУУЛГАЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/23     ГАНЦМОД-ГАШУУНСУХАЙТЫН ТӨМӨР ЗАМЫН БҮТЭЭН БАЙГУУЛАЛТ ИРЭХ САРЫН 14-НД ЭХЭЛНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/23     Н.УЧРАЛ: "БОР ТЭЭГ"-ИЙН УУРХАЙД ТҮНШЛЭЛИЙН КОМПАНИУДТАЙ БАЙГУУЛСАН ГЭРЭЭГ ХҮЧИНГҮЙ БОЛГОЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/23    

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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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KT, Mongolia sign deal on mineral resource supply www.koreaherald.com

South Korean telecommunications giant KT Corp. said Thursday it has signed a partnership deal with the Mongolian government to secure a stable supply of some 80 kinds of mineral resources, including rare earth elements.
KT CEO Ku Hyeon-mo signed the memorandum of understanding on mineral resources with Mongolia's Prime Minister Luvsannamsrai Oyun-Erdene in Ulaanbaatar on the sidelines of a meeting that aimed to strengthen strategic cooperation in realizing digital transformation in Mongolia.
Mongolia is one of the world's leading suppliers of mineral resources. It has some 80 kinds of mineral deposits, including rare earth elements, copper, fluorite, gold, iron and zinc. The country’s deposits of rare earth elements accounted for about 16 percent of global reserves. Rare earth elements are important mineral resources and are used in various future-value industries such as new and renewable energy, electrical products and automobile parts.
Under the agreement, KT laid a stable foundation for preferentially supplying Mongolia’s various mineral resources to other industries in Korea. The company will discuss with the South Korean government and Korean industry circles more specific plans for the supply of resources, the officials said.
On the same day of the memorandum signing ceremony, Mongolia held a separate ceremony for appointing KT’s chief as the country’s chief technology officer. Ku became the first foreign businessman to take the honor.
In line with the Mongolian government’s new recovery policy, KT has made efforts for the country’s industrywide digital transformation since last year. The digital transformation cooperation between KT and the Mongolian government is expected to contribute largely to the development of future value industries in Korea, as well as the development of Mongolia's industries.
In December 2021, the Mongolian government passed its new recovery policy, the first part of the country’s Vision 2050 program that aims to diversify its economy, boost industry and set democracy on the way to long-term development. The country also established a digital development department in May last year for the “digital Mongolia” strategy.
Ku has been recognized for KT’s digital transformation capabilities and contributions based on its digital platform company (Digico) strategy. By naming Ku as the CTO, the Mongolian government is planning to accelerate the country’s digital transformation in areas such as finance, medical care, digital and media.
"The latest cooperation with Mongolia in various business areas from resources and finance to medical care and media marked the beginning of an expanded Digico strategy," Ku said. "We hope to mark this year as the first for KT to expand our strategy and know-how to the global Digico strategy by leading the development and global growth of other industries, both at home and abroad."
By Jie Ye-eun (yeeun@heraldcorp.com)
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Bell Ceremony was Organized for the Primary Market of “Sendly Bond” www.montsame.mn

The ringing of the bell ceremony organized and started the primary market for the “Sendly Bond,” offered publicly by the “Sendly NBFI” JSC.
The primary market for the “Sendly Bond” issued by “Sendly NBFI” JSC began on January 25, and the ringing of the bell ceremony for this issuance has been organized at Mongolian Stock Exchange.
According to the securities prospectus, 85,000 bonds with a nominal value of 100,000 MNT each, an 18-month term, and a 19.2% annual interest rate will be offered to the public, and 8.5 billion MNT will be collected.
Khash-Erdene, Chief of the Business Development Department of the Mongolian Stock Exchange, opened and said, “We are going to open the 6892nd trading session of the Mongolian Stock Exchange. The trading of this bond offered to the primary market by “Sendly NBFI” JSC will be accepted through the IPO system of the Mongolian Stock Exchange starting today and ending on January 31 between 10:00 and 17:00. In addition, we would like to inform all investors that the primary market will be closed if the order amount reaches 100 percent.
“We are pleased to announce that the bond offered to the public by “Sendly NBFI” JSC is the first product to enter the market through the exchange in 2023.
“2022 was the year of the historical growth of the stock market of Mongolia, where many new products were released, but today the “Sendly NBFI” company is offering the first product of 2023 to the public, opening new gates for the next products to be traded on the Mongolian Stock Exchange. I am confident that it will lead to success and accomplishment for the following products.”
At the bell-ringing ceremony, T. Khash-Erdene, Chief of the Business Development Department of the Mongolian Stock Exchange, T. Tserenbadral, Deputy Chairman of the Financial Regulatory Commission, B. Naranbat, Chairman of the Board of Directors of "Sendly NBFI" JSC, and B. Ulziibayar, CEO of "Ulzii and Co Capital" LLC, participated and rang the bell to open the 6892nd trading session of the MSE.
Source: MSE
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Number of Foreign Tourists Increased by 3.1 Times www.montsame.mn

The number of passengers crossing Mongolia's border reached 2016.2 thousand (double counting) in 2022. Compared to the previous year, the number of passengers increased by 1372.8 (3.1 times).
This increase was mainly due to the opening of the border crossing after the Covid-19 pandemic. The number of inbound passengers increased by 700.1 (1.5 times) compared to the 2020, but decreased by 4080.2 (66.9%) thousand from 2019. In 2022, 988.6 thousand passengers entered Mongolia. In terms of border points for all inbound passengers, 31.8% were crossed through Chinggis khaan, 20.1% were crossed through Altanbulag, 15.4% were crossed through Gashuun sukhait, 5.4% were crossed Zamiin-Uud, 3.7% were crossed Shiveekhuren, 3.5% were crossed through Bulgan, 20.1% were crossed through other border points. Out of the inbound passengers, 688.1 (69.6%) thousand were Mongolian citizens and 300.5 (30.4%) thousand were foreigners. In 2022, 300.5 thousand foreign passengers have entered, respectively increased by 261.3 (7.7 times) thousand. Of those foreign passengers, 92.4 % stayed up to 30 days, 2.8 % stayed for 30-90 days and 4.8% stayed for 90 days or more.
In 2022, 170.4 (56.7%) thousand of the inbound foreign passengers were males and 130.1 (43.3%) were females, 276.6 (92.0%) thousand were adults and 23.9 (8.0%) thousand were children. Also, 59.2% of inbound foreign passengers were visited from Europe, 34.4% from East Asia and the Pacific region, 3.7% from the America, 1.5% from Middle East, 0.7% from the and South Asia, 0.5% from the African regions. In terms of nationality of all the inbound foreign passengers, 52.3% were Russian, 18.2% were South Koreans, 5.9% were Kazakhstan, 4.6% were Chinese, 3.1% were from the USA, 15.9% were from other countries. The number of tourists was 286.3 thousand and increased by 253.2 (8.6 times) thousand from the same period of the previous year. In 2022, the number of tourists from Russian Federation increased by 140 637 (12.2 times), tourists from South Korea increased by 51 070 (23.1 times), tourists from the Kazakhstan increased by 16 828 (24.1 times) and tourists from China increased by 5 423 (1.9 times) compared with the same period of the previous year.
In 2022, 728.6 thousand Mongolian passengers (double counting) traveled abroad, of which 429.4 (58.9%) thousand traveled for tourism purposes, which increased by 308.5 (3.6 times) thousand from the same period of the previous year and 299.3 (41.1%) thousand traveled for employment, study and permanent residence purposes, increased by 137.9 (85.5%) thousand from the same period of the previous year, respectively (Table 2). Out of all outbound Mongolian passengers, 524.7 (72.0%) thousand were males adult passengers, 204.0 (28.0%) thousand were females, adult passengers and 42.9 (0.6%) were children. In terms of duration of stay, 592.8 (81.4%) thousand Mongolian passengers stayed up to 30 days, 12414 (1.7 %) stayed for 30 to 90 days and 123.4 (16.9%) thousand stayed for 90 days or more.
There were 2 637.3 thousand crossings of transportation vehicles (double counting) entered through the border of Mongolia in 2022, which increased by 754.4 (40.1%) thousand compared to the previous year. In terms of types of the crossing of transportation vehicles, 30.6% were freight trains, 25.6% were trucks, 5.9% were sedans, and 37.9% were other transportation vehicles. In terms of crossed border points, 29.7% through Gashuunsukhait, 29.5% through Zamiin-Uud, 8.4% through Shiveekhuren, 6.7% through Sukhbaatar, 6.4% through Altanbulag, and 19.3% through other border points.
Source: National Statistics Office
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Strengthening U.S. Open Skies Civil Aviation Partnerships www.mn.usembassy.gov

On January 24 in Washington, D.C., Deputy Assistant Secretary of the U.S. Department of State’s Bureau of Economic and Business Affairs Richard T. Yoneoka and Mongolian State Secretary of the Ministry of Road and Transport Development Batbold Sandagdorj signed a Memorandum of Consultations (MOC) finalizing an Air Transport Agreement between the Government of the United States and the Government of Mongolia – the first bilateral air transport agreement negotiated by the two countries. The MOC acknowledges that the aeronautical authorities of the countries intend to apply the agreement on the basis of comity and reciprocity pending its entry into force.
The Agreement establishes a modern civil aviation relationship with Mongolia consistent with U.S. Open Skies international aviation policy. It includes unrestricted capacity and frequency of services, open route rights, a liberal charter regime, and open code-sharing opportunities. After both countries complete their internal procedures, the Agreement will be signed and brought into force.
This Agreement with Mongolia will immediately expand our strong economic and commercial partnership, promote people-to-people ties, and create new opportunities for airlines, travel companies, and customers. Air carriers can provide more affordable, convenient, and efficient air services to travelers and shippers, promoting tourism and commerce. The Agreement also commits both governments to high standards of aviation safety and security.
The new Agreement will build on a framework of U.S. Open Skies agreements with over 130 other partners that enable U.S. air carriers to operate and expand flight networks far beyond America’s borders and connect the U.S. economy to growing markets abroad.
For further information, please contact the Bureau of Economic and Business Affairs Press Office at EB-Press-Inquiry@state.gov for press inquiries. Information on U.S. aviation policy and Open Skies agreements is available on the Department of State’s website here: https://www.state.gov/air-transport-agreements/
By U. S. Embassy Ulaanbaatar | 25 January, 2023 | Topics: News, Press Releases
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Four Government Bonds Fully Paid Off www.montsame.mn

The Government of Mongolia has issued nine bonds on the international stock market so far, namely “Chinggis-18,” “Chinggis-22,” “Dim Sam,” “Mazaalai,” “Khuraldai,” “Gerege,” “Nomad,” “Century-1,” “Century-2”.
According to the Bank of Mongolia, four of the government’s bonds have been completely paid off, and the remaining bonds have been partially paid.
Mongolia has managed to arrange a considerable amount of debt repayment that is due in 2023 at the beginning of this year. Specifically, the Government of Mongolia and the State Bank have issued a “Сentury-2” bond and successfully raised USD 650 million from investors. It allowed the government to refinance “Gerege,” which had to be repaid this year, and “Khuraldai,” which is due next year.
Moreover, the Government of Mongolia fully paid off the remaining payment of USD 132.6 million “Mazaalai” bond on April 6, 2021, and the outstanding USD 60 million payment of USD 250 million received from Credit Suisse Bank on March 15, 2021.
 
 
 
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Opportunities for Chinese Companies in Coal Trade Discussed www.montsame.mn

The Mongolian Stock Exchange (MSE) leadership received the Commercial and Economic Counsellor of the Embassy of the People’s Republic of China, Song Xuejun, and the Deputy Director of China General Chamber of Commerce in Mongolia, Chai Fang Ping.
During the meeting, the Chief Executive Officer of the MSE, Altai Khangai, introduced the current and future situation of Mongolian capital markets to the visitors. The parties exchanged their views on opportunities to increase Chinese investment in the Mongolian capital markets. In addition, the parties discussed further actions to introduce opportunities for Chinese companies to participate in the online coal trades organized by the Mongolian Stock Exchange from February 2023.
The Government of Mongolia decided to sell coal through e-auction following the Resolution No.362 of the Government, approved on December 14, 2022, and the MSE conducted the trial e-auction of coal export on January 12, 2023. The traders of PRC, Singapore, and Hong Kong participated and purchased two lots or 12,800 tons of coal that traded through the trial trading of the MSE from “Energy Resources” LLC.
Hundred and seventy Chinese companies are procuring from “Erdenes Tavantolgoi” JSC.
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Mongolia vows to clean up coal trade after fury over China deals www.aljazeera.com

Last month, protestors stormed the Mongolian capital to denounce corruption in the country’s coal trade. Now the government says it has a solution to put a stop to years of shady business deals.
Starting next month, Erdenes-Tavantolgoi JSC — the country’s largest state-owned coal miner — will cease signing direct sales contracts with buyers in neighbouring China, which last year purchased 84 percent of Mongolia’s total exports. Instead, the company’s coal will be auctioned on the Mongolian Stock Exchange.
The move to sell coal contracts through the exchange comes in response to large-scale protests against corruption in Ulaanbaatar in December, triggered by allegations of widespread fraud in the coal industry.
Erdenes-Tavantolgoi JSC was at the centre of the allegations — its chief executive Gankhuyag Battulga and several associates as well as family members have been arrested and await trial, accused of embezzling billions of dollars in coal revenue. Authorities say the auctions will improve transparency and ultimately net higher returns for the state.
The government had planned to start the bidding process later this year but expedited the process following public outcry over corruption.
“Instead of waiting for half a year we will have it traded online starting in February and the Mongolian Stock Exchange is going to handle that,” Batnairamdal, Mongolia’s vice minister for mining and heavy industry, told Al Jazeera. “This will help give us experience in selling coal on an online platform.”
Sandwiched between Russia and China, Mongolia is one of the world’s most sparsely populated countries with 3.3 million people spread across a landscape slightly smaller than Alaska. In 2021, the country had a gross domestic product (GDP) per capita of about $4,500, similar to that of Indonesia. Mining accounts for roughly a quarter of the country’s GDP, according to the Extractive Industries Transparency Initiative. About half of its export revenue comes from coal.
The contracts apply to coal exported through the Gashuunsukhait border post, located about 240km (150 miles) south of the Tavan Tolgoi coal deposit in the Gobi Desert. In addition to Erdenes-Tavantolgoi, affected companies include Energy Resources LLC, whose parent company Mongolian Mining Corp is listed on the Hong Kong Stock Exchange.
Both companies excavate coal at Tavan Tolgoi, one of the world’s largest coking and thermal coal deposits, with 6.4 billion tonnes of reserves. The coal from Tavan Tolgoi is highly prized in China, where it is used in the production of steel.
China is the world’s largest steel producer, accounting for approximately 57 percent of the world’s steel production. But it cannot produce enough coking coal domestically to meet the needs of its steel factories.
In 2022, China imported 170.71 million tonnes of coal, according to data from China’s General Administration of Customs. Mongolia supplied 31.2 million tonnes, about 18 percent of the total.
Mongolia’s coking coal has become especially valued in recent years as China has dialled back its reliance on Australian coal following a sharp deterioration in relations between the countries.
Earlier this month, the stock exchange organised a trial run trade to test the new system — 12,800 tonnes of coking coal was auctioned to a Singapore-based coal transporter. The final call price had increased 12.2 percent above the original asking price, from 1,150 to 1,290 Chinese yuan ($170-$190) per tonne.
“The initial trade shows that coal contracts will help to improve the transparency of the coal trade and increase sales revenue,” Javkhlan Ivanov, the exchange’s chief financial officer, told Al Jazeera. “Coal E-auctions will be conducted without any broker and carry a trading commission of 0.1 percent.”
Backroom deals
The new system comes just a month after a group of coal mining executives and their co-conspirators were arrested for allegedly defrauding Erdenes-Tavantolgoi JSC. Much of the theft was allegedly conducted by carrying out off-the-books coal sales with Chinese buyers at the border.
The government argues that selling coal through the stock exchange will prevent theft and backroom deals. Mongolia ranked 110 out of 180 countries on a corruption perceptions index compiled by Transparency International two years ago.
“In the past, state-owned companies signed purchase and sales agreements with buyers they found and they did it behind closed doors,” Batnairamdal said. “Under the new system, any buyer will be able to open an account and participate in the commodity purchase through licensed brokers on an equal playing field.”
Also on the horizon are plans to widen the coal auctions to other minerals. Potential commodities to be traded include copper, iron ore, gold, fluorspar, molybdenum, and other minerals.
“The contract types will be spot, futures, options, and forwards,” Javkhlan said. “The main purchasers would be Chinese and Russian importers as well as foreign and local derivative traders.”
Mongolia is looking at commodities exchanges in emerging markets such as Turkey and Poland as well as mature exchanges like the London Metals Exchange as models for Mongolia to use as it develops its own exchange, Batnairamdal said.
Jake Horslen, senior LNG analyst for Energy Aspects, a London-based market analysis firm, said commodity exchanges can be useful when they bring together buyers and sellers in low-liquidity or opaque markets.
“They can also reduce counterparty risk as the exchange acts as the counterparty for buyers and sellers in each deal, rather than another firm,” Horslen told Al Jazeera.
The corruption probe that set many of the changes in motion has so far resulted in the arrests of 17 people alleged to have been involved in the theft from Erdenes-Tavantolgoi JSC. Former President Khaltmaa Battulga is among those being questioned over their involvement.
An indication that all was not well with the company occurred in October when Erdenes-Tavantolgoi JSC’s chief executive was fired with little explanation, and control was handed over to a special envoy from the Ministry of Finance.
The corruption allegations in December prompted thousands of people to pour into the streets in subzero temperatures to call for accountability. The government has promised to reform Erdenes-Tavantolgoi JSC, hire employees in a transparent process and eventually make it a public company.
“The protesters want a solution. They don’t want cases like [the] coal theft to happen again, they want the necessary reforms. We need to reform the mining sector,” Batnairamdal said.
Zolbayar Enkhbaatar, editor-in-chief at Inside Mongolia, a market intelligence newsletter, said the commodities market could help the government win back some of the trust lost during the fiasco involving Erdenes-Tavantolgoi JSC.
“Mongolians seem to regard the stock exchange as a symbol of transparency,” Zolbayar told Al Jazeera. “The coal theft was possible because the involved companies lacked transparency — no one could see how they were selling coal and to whom they were selling it.”
Others are more cautious. Amar Adiya, regional director for Washington, DC-based strategic advisory firm BowerGroupAsia, said that setting up a successful commodities exchange in Mongolia will require a high volume of commodities to be traded on a daily basis.
“It is not a straightforward task,” Amar told Al Jazeera.
While a commodities exchange could benefit both buyers and sellers of coal in the long-run, and may help placate public distrust over the coal trade, more needs to be done to calm public outrage over longstanding issues related to corruption and quality of life, Amar said.
“The exchange may be perceived as a small step towards addressing larger issues related to inequality, living costs, the environment, and public health,” Amar said. “But the government needs to take a comprehensive approach to address these concerns in order to gain public support ahead of the 2024 elections.”
SOURCE: AL JAZEERA
 
 
 
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In Mongolia, the Russian animated series of the studio "Locomotive" began to be shown www.bigasia.ru

The Russian media holding "Digital Television" and the Mongolian TV channel STARTV have agreed on cooperation, which made it possible to launch in Mongolia the screening of Russian animated series of the animation studio "Steam Locomotive". This was reported to a TASS correspondent in the Russian House of Ulaanbaatar on Tuesday.
"Digital Television media holding has granted the Mongolian TV channel STARTV the rights to broadcast animated series produced by the animation studio "Locomotive". These are Leo and Tig, Kitty-Dogs, and Mi-mi-Bears, made by order of VGTRK," Anna Kulakova, head of the Culture and Public Relations Department of the Russian House in Ulaanbaatar, told a TASS correspondent.
Today, the STARTV channel has successfully launched the series "Mi-mi-bears" and is working on dubbing the multi-part cartoon "Leo and Tig" into Mongolian. Dashdelegiin Batbold, executive producer of STARTV channel, thanked the management of the Russian House in Ulaanbaatar for their help in finding a partner in Russia and establishing business contacts.
"Korean and Chinese video content is now widely distributed in Mongolia. It is also on the broadcast grid of our TV company. But we strive to ensure that the STARTV viewer watches projects from different countries of the world, it is important for us to acquaint the citizens of Mongolia with the history and culture of different peoples. I am sure that our cooperation with the Russian partner will be further strengthened," the Mongolian producer said.
 
 
 
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Mongolian government accused of rushing through veiled law that dismantles freedom of speech www.intellinews.com

Mongolia’s government stands accused of passing a rushed and veiled law that will dismantle much freedom of speech.
The legislation, introduced with the title “Protection of Human Rights on Social Media”, is supposed to crack down on social media harassment, but law society and civil rights organisations see the law as a de facto move to prevent the free circulation of opinions held by citizens.
The law was introduced on January 17 by Uchral Nyam-Osor, the digital development and communications minister. It did not pass through parliamentary procedures such as a public hearing. Forty out of 52 lawmakers present in parliament were enough to pass the legislation (24 MPs were absent) on January 20. The law will come into force on February 1.
The opposition Democratic Party (DP) caucus in parliament objected to the law. It requested a five-day adjournment of the vote; however, the speaker of parliament only granted an adjournment until noon on the same day of the scheduled vote. When the time came to vote, the law passed overwhelmingly along party lines. Only one Mongolian People’s Party (MPP) member, Bulgantuya Khurelbaatar, voted against the law with the DP. Also, only one Labor Party (HUN) lawmaker, Dorjkhand Togmid, voted to reject the legislation.
Uchral defended the law as drawn up to protect vulnerable groups such as children from harassment and bullying online. He asserted that the big social media companies, such as Twitter and Meta's Facebook, the latter of which is the most widely used social network in Mongolia, do not conduct much content monitoring in the country.
According to the minister, from January to June last year, Facebook placed restrictions on only 32 items of content in Mongolia at the request of the Mongolian government. In contrast, the figure for South Korea was 19,500. However, Uchral did not mention how in other democratic countries with much larger populations, such as the US and Australia, the restrictions are not as severe as they are in South Korea, and that even in the previous six months, South Korea's restrictions declined in severity.
When looking at Meta’s restrictions in South Korea, it can be seen that of the items referred to by Uchral, 19,074 were reported by South Korea's National Election Commission for alleged violations of the Public Official Election Act.
Civil rights organisations, legal experts and media advocacy groups in Mongolia are primarily concerned with a few provisions of the new law that could be used to restrict free speech while ostensibly protecting children from cybercrime.
"This [legislation] would give the state the power to regulate social media and compel fact-checking centres like the Mongolian Fact-checking Center to serve the state without choice," wrote Duuya Baatar of the NGO Nest Center for Journalism Innovation and Development.
The sixth article of the law gives the government a great deal of leeway to punish people for voicing their opinions online. Clauses refer to the denigration of state symbols, national, historical and cultural values, culture and customs of Mongolia. They also reference extremist activities, the undermining of national unity, the disclosure of state and official secrets, terrorist acts, crimes against human security and national security and inciting and calling for crimes. And they talk of risk content may pose to society, the economy and rights and the legal interests of others. Finally, clauses prohibit the publication or distribution of personal information of the public of Mongolia.
These clauses will not only prevent the media sector from self-regulating, they will force fact-checking organisations like NEST to work for the government. "The Mongolian Fact-checking Center has always been vocal about the dangers of legalising social media in Mongolia," Duuya said. “Despite our efforts to combat online misinformation, we believe Mongolia's democracy is too young and fragile to implement such a law."
Under the law, it will become difficult to criticise public officials during election campaigning, and, as Duuya pointed out, fact-checking organisations that were active during the election season would have to operate under government oversight.
Another criticism levelled by legal experts and civil rights organisations is that the law was passed without any public debate, violating the democratic process and possibly breaking the law in the process. Minister Uchral stated that he had no choice but to rush through the law because the "trolls" would have shut it down otherwise. If there was no accelerated approach, no law like this would ever pass, he said.
The ruling party, MPP, introduced a similar law, namely the Cyber Security Law, in 2018. The draft was presented at a public hearing with several civil rights representatives present. Clauses referring to preventing fake information from spreading on social media were included, but the public strongly opposed the clauses and they were eventually not included in the law.
Looking at the moves with the new law, security expert Otgonpurev Mendsaikhan said he believed MPP was trying to avoid a similar outcome. "[MPP] passed it without a public discussion, it’s because of how the previous similar clauses in 2018 were shut down. So it's clear that [MPP] didn’t want that to happen again," wrote Otgonpurev, adding: "Now, under the guise of protecting children's rights and national security, they have passed a law with no public participation."
According to legal analyst Myagmardorj Buyanjargal, this law came about with the undermining of other laws and regulations. "According to Clause 18 of Article 14.1 of the Act of Parliament and Article 21.1 of the Law on Parliamentary Session, the prime minister may request the speaker to discuss a draft law with the emergency procedure if it is related to ensuring the economic dimensions of national security. However, the prime minister and his cabinet have failed to demonstrate the basis and justification for their request [with this law]. But the speaker doesn't seem to care, so he accepted the prime minister's request without hesitation," Myagmardorj wrote. "It's safe to say that the government, or more specifically, the ruling party, MPP, will use this law to restrict content on social media platforms with critiques made against them when it comes to the next parliamentary election, expected in June 2024," Myagmardorj says.
The only legal options that remain for scrapping the law are a presidential veto or a constitutional court ruling that the law is unconstitutional.
Civil rights groups have started an online petition to pressure the president to veto the bill. However, it should be noted that the current president of Mongolia is a member of the MPP, while the Constitutional Court largely favours the MPP with its rulings. Nine members of the court are appointed by the president, the government and the Supreme Court.
 
By Anand Tumurtogoo
 
 
 
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Ambassador Buangan Addresses Amcham Mongolia on Promoting Third Neighbor Policy www.mn.usembassy.gov

U.S. Ambassador Richard Buangan addressed the January Monthly Meeting of AmCham Mongolia today to discuss Mongolia’s third neighbor policy and investment climate, alongside Member of Parliament D. Tsogtbaatar and Chairperson of the Board of AmCham Mongolia, Gary Biondo. Ambassador Buangan reflected on U.S. engagements in Mongolia in 2022, bluntly noting concern for non-transparent legislative processes and that Mongolia’s investment climate remains “unattractive for investors and challenging for importers and exporters.” However, he also encouraged attendees to make 2023 the year of the U.S.-Mongolia relationship and, with regards to the third neighbor policy, Ambassador Buangan expressed understanding about Mongolia’s geopolitical challenges.
“When faced with decisions to deal with its neighbors, we want to ensure that Mongolia can make choices from a position of strength,” said Ambassador Buangan. “That is the underlying purpose of our interest in strengthening Mongolia’s democratic institutions, enhancing its national sovereignty, and diversifying the Mongolian economy.”
Complete text of his remarks as prepared follows here.
Remarks of Ambassador Richard L. Buangan
To the American Chamber of Commerce in Mongolia
January Monthly Meeting
Shangri-La Hotel, Ulaanbaatar
Tuesday, January 24, 2023
(As Prepared)
Chairman [Gary] Biondo, Member of Parliament Tsogtbaatar, members of AmCham, thank you for the opportunity to address AmCham Mongolia, particularly at the opening of what looks to be a consequential year for all of us. As I have been telling my Mongolian government counterparts recently, let’s make this the year of the U.S.-Mongolia relationship. The year where we invest in Mongolia’s strong democratic traditions and open market institutions by deepening the ties with its democratic partners. I have said time and again, the United States is proud to be one of Mongolia’s third neighbors, its strategic partner, and also its friend. I firmly believe that I arrived at a high point in the U.S.-Mongolia relationship and as we look to 2023 and beyond, let’s work together to deepen the relationship even more. I have a few thoughts on this that I’d like to share with you this morning.
Regional and global post-COVID impacts, Russia’s invasion of Ukraine, and Mongolia’s fiscal, financial, and investment climate challenges affect everyone in this room.
Other than Russia’s brutal and unjustified war against Ukraine, most of these challenges existed when my predecessor addressed you in November 2021.
And while I may bring a different tone than Ambassador Klecheski to these discussions, and certainly different experiences, building on his focus in helping you all address the economic and market challenges here and his successes in tackling those are my guiding stars at this point.
In that spirit, let’s look back at U.S. engagements with Mongolia in 2022 with an eye to where these should lead us in 2023 and beyond.
These include the Millennium Challenge Corporation’s $462 million compact for increased water provision and wastewater recycling; an expanding USAID program; discussion of Mongolia’s investment climate in 2022; and the implications for Mongolia of Russia’s war against Ukraine.
In terms of more specific engagements on pressing issues, I am pleased that our $462 million MCC water compact – a partnership between the U.S. and Mongolian governments – is on track. Supply chain issues notwithstanding, the project is progressing well, with the recent groundbreaking in August for a state-of-the-art wastewater recycling plant; the ongoing construction of an advanced water purification plant; and the drilling of 30 new wells downstream on the Tuul river – will increase Ulaanbaatar’s water supply by some 80 percent, staving off an imminent water shortage. Additionally, while increasing water supplies, the compact’s water technologies also contribute to our mutual efforts to combat climate change and strengthen the Ulaanbaatar’s climate resiliency.
The United States has revitalized USAID’s Mongolia portfolio. USAID’s budget for 2022 tripled 2021’s, and these additional resources will expand support for things like energy sector modernization and reform, food security, increased financing for small business, and strengthened democratic institutions, all of which will contribute to Mongolia’s economic sovereignty and security. In addition, in response to the particularly harsh dzud conditions this year, I have issued a Declaration of Humanitarian Need, requesting USAID release $100,000 for immediate relief efforts to meet the needs of vulnerable dzud-affected households. This will allow our team on the ground to provide emergency support to herder families in the hardest hit areas, supplementing its existing disaster preparedness work.
Bilateral economic ties remain robust, despite the challenges of the People’s Republic of China’s COVID policies and Russia’s senseless war of aggression against Ukraine. U.S. exports rose in 2021 to $148 million and look set to exceed that number in 2022; and as important, Mongolian exports to the United States will break $20 million, returning to pre-COVID levels.
We want this trade to grow on both sides and believe that collective business climate reform efforts are the best way to get exporters and investors back to Mongolia.
Making the business climate better is essential, and that depends upon the AmCham business community taking the lead.
We need to hear from you about what’s working, what’s not, and what reforms you want.
Large or small, or something in between, talk with us, with my colleagues, Economic Section Chief John Cheng and Michael Richmond – or come to me directly.
Done together, thoughtfully crafted, and with the careful engagement of our like-minded embassies and chambers, we can deliver needed reforms and change to a system that needs it.
In terms of the investment climate, Ambassador Klecheski, my team, and you have told me that Mongolia hasn’t delivered improvements that will motivate significant foreign or domestic investment into Mongolia – government or parliament public statements notwithstanding.
Our 2022 Mongolia Investment Climate Statement, or “ICS”, reported that capricious, nontransparent, unpredictable, and corrupt application of laws and regulations make Mongolia unattractive for investors and challenging for importers and exporters. We cannot say that more clearly.
Mongolian officials and legislators agreed, noting we fairly assessed the situation; and, if anything, suggested that the circumstances could have justified a harsher critique.
On Oyu Tolgoi, 2022 provided compelling evidence that the 2021 agreement has worked, sending a clear signal that Rio Tinto and the government can resolve differences.
We need to build on this achievement.
We take no side among the parties—our side is the project itself, that it continue—and crucial to that is managing expectations realistically.
As OT moves from development to sustainable operation, issues of power, water, labor, and regional development remain unresolved. We suggest that the parties get ahead of predictable controversies jointly.
Our 2022 ICS bluntly notes that Mongolia fails to implement commitments under the U.S.-Mongolia Transparency Agreement, which was signed in 2014 but has yet to be fully implemented.
The deadline for full implementation, March 2022, has passed; and so, our top priority remains implementation of the Transparency Agreement and I have pushed for that personally with the Mongolian government and key members of parliament.
We commend parliament for the significant steps it has taken to increase transparency and public input into the lawmaking process. However, the government has not implemented the notice, comment, and review requirements under Mongolia’s own laws and the Transparency Agreement.
As you all know, implementation means the Mongolian government publishes all draft laws and regulations affecting international commerce on LegalInfo.mn for a period of no less than 60 days; that foreign and domestic businesses have the opportunity to comment on those regulations; and for these comments to be either factored into the final regulation or responded to publicly.
Only your consistent, persistent, and wide use of this agreement will demonstrate the demand for it to the government and parliament.
I would also recommend you look for allies for transparency among other chambers and civil society groups.
On the positive side, Mongolia has taken meaningful steps to enhance judicial independence, limiting the ability of its senior officials to select, reject, and discipline judges at all levels.
We’ll need several years to see an impact but recognize the importance of this change.
Also positive, the government and parliament have told us they are amending the Investment Law and Minerals Law to encourage existing investors and attract new domestic and foreign investment.
They have sometimes invited AmCham and like-minded associations to participate in discussions on what reforms in law and practice are needed.
That’s all to the good, and like my predecessor, I support Prime Minister Oyun-Erdene’s and Speaker Zandanshatar’s affirmation of these changes.
However, the business communities and governments of the United States and other Third Neighbors are concerned that ongoing efforts to amend these laws are following a non-transparent path.
AmCham and others tell me they have neither seen nor been able to comment on legislation the government has been drafting for over a year.
Business leaders are concerned these will simply be released to parliament, where opportunities to debate their contents may well be limited.
An example of this was last week’s passage of the Law Protecting Human Rights on Social Networks. I won’t go into the detailed concerns we have with the potential problems this law makes for the conduct of speech in Mongolia, but I find aspects of this law deeply troubling, particularly those sections that could roll back fundamental freedoms which Mongolians have enjoyed for decades. I will raise these issues directly with members of the government and parliament in the next few weeks, as well as consult with our diplomatic partners to determine coordinated efforts to raise our concerns collectively for the sake of all of us who have been advocating for transparency and openness in Mongolia over the last few years.
The law appeared with no notice to public or private sector stakeholders.
It clearly effects free speech and your commercial speech.
It was rushed through parliament in three days, with no comment, consultation, nor review. As you can see, we think this is a step in the wrong direction.
Also concerning, 2022 saw the continued rise of state-owned enterprises, or SOEs.
The recent troubles at state-owned Erdenes Tavan Tolgoi (ETT) demonstrate the impact SOEs have on the public and private sectors, often without consideration of economic viability, or of the impact on employment, the environment, or Mongolia’s fiscal stability.
SOEs create incredible conflicts of interest for any government.
Such conflicts often lead to the government allowing its SOEs to ignore regulations and laws that private sector firms must follow.
Such conflicts have led the government to use its SOEs to underwrite off-the-books projects that appear to leave the government free of obligation but effectively render Mongolia fiscally weakened and more deeply indebted.
Government and parliamentary voices have publicly said Mongolia will review its approach to SOEs and trim its SOE portfolio.
We welcome these voices and hope to see follow-through very soon.
We encourage AmCham and like-minded organizations to engage on this issue with the government and the public.
Looking forward to our relationship with the government, we are committed to partnering with Mongolia to strengthen its sovereignty, as well as diversify its economy.
In practice, we will support policies deepening economic ties with Mongolia’s third neighbors.
Macroeconomically, recovery from COVID remained the key challenge in 2022.
We had hoped that last year would have seen an export-led boom, but the PRC’s COVID policies frustrated those hopes, and we don’t really know if China will meaningfully loosen those restrictions in 2023.
In any case, Mongolia needs to resolve the investment climate issues raised while addressing well-known debt and financial sector weaknesses looming in 2023.
We should also consider how Russia’s brutal and unjustified war against Ukraine has exacerbated Mongolia’s economic troubles. Supply chains and payment channels have been disrupted, and global financial and commodity markets critical for Mongolia’s stability and security remain in turmoil.
These realities have created high levels of external debt, the thinnest of foreign exchange reserve buffers, and festering financial sector weaknesses, making Mongolia vulnerable to external shocks and coercion.
These realities justify implementing prudent fiscal and monetary policies, and a well-thought-out and sequenced approach to banking reform, sovereign borrowing, and SOE policy to ensure Mongolia’s financial stability, sovereignty, and economic independence.
Joint efforts to resolve these challenges are necessary.
Now, that’s what happened in 2022, but what will we do together in 2023?
The answer lies in broadening and refining our advocacy.
AmCham has become a model for and leader of the broader business community in working with the government and parliament.
Your advocacy has been fruitful, even if much work remains to be done. Your persistence and insight ensure a place for AmCham in the rooms where laws and regulations are deliberated and implemented.
Openly or behind-the-scenes the U.S. Embassy has aided your efforts and will continue to do so.
From the Embassy’s perspective, we must further legislative and regulatory transparency, and do so by focusing on laws important to AmCham’s members, which might well be advocacy for the new minerals and investment laws, as well as reform of the tax assessment and dispute resolution system.
You and other business groups have told me that these two laws are the effective foundation for most of your activities; in fact, the foundation for Mongolia’s future development.
We, and other like-minded diplomatic partners, will advocate for you and with you to affect the course of these two pieces of legislation, and other laws as opportunities present.
Exercising our convening power between governments and the private sector, we can point out challenges, suggest other approaches that have worked or failed elsewhere, and hold Mongolia to the commitments it has made with our respective governments, such as the Transparency Agreement.
We draw upon key members of the Third Neighbor states to give that Third Neighbor concept the commercial and trade pillar it has lacked since the term was coined in the 1990s.
Over the last three months, the U.S. Embassy and our like-minded friends and partners have launched a program to share information about economic and commercial issues, to identify areas of mutual interest, and to create collective action with our respective business communities to resolve issues affecting economic and commercial interests.
One such effort was the recent meeting between AmCham and this group of like-minded countries on the investment climate, which some of you attended.
The outcomes of this pilot event are positive, and the parties look forward to our collective outreach with the other chambers.
This effort will culminate in a high-profile series of events where I and hopefully like-minded ambassadors will spotlight key business sector challenges for Mongolia’s government and parliament derived from meetings with AmCham and partner chambers, as well as numerous side interventions with the government and parliament leading to the main event.
If this approach works, we will use it to facilitate transparent debate on other issues before Mongolian decision makers.
That was the advocacy side, let’s look at what we can do together on the investment side. We’re aggressively expanding the footprint here of the U.S. Development Finance Corporation, or DFC. Your support for their visit to Mongolia last October was a clear success and produced several project leads for the upcoming year.
DFC is the bigger and better version of what was formerly known as OPIC. DFC is supporting transparent, sustainable, and – above all – private sector-led projects, and such projects need not have an American nexus.
DFC is looking to expand their Mongolia portfolio substantially. We need you to bring viable projects to us.
AmCham, a recognized leader among all business communities, will play a crucial role in inspiring others to join these united efforts.
This is the convening and convergence of resources and people, long absent but long needed, a persistent and patient—sometimes grueling–effort to achieve—not a perfect—but a workable investment climate and a strengthening of our economic relationship with Mongolia.
I want to share with you something else that I have been telling my Mongolian government counterparts over the last few weeks. Something that explains why all this is important for the U.S. government.
We recognize the delicate situation in which Mongolia finds itself, given its geopolitical challenges sandwiched between two authoritarian neighbors. As explained to me, Mongolia must balance out competing interests and take a neutral approach to many choices that the international community has asked Mongolia to make as we all stand up against aggression, bullying, and the malign behavior that seeks to alter the international rules-based system which Mongolia and others have enjoyed over the past few decades.
I have told my Mongolian counterparts this: we do not seek to persuade you to cut off ties with your neighbors, but on the contrary give you the tools to have options so the decisions you make are in your sovereign interest, aligned with your values. Decisions that you make because they favor Mongolia. When faced with decisions to deal with its neighbors, we want to ensure that Mongolia can make choices from a position of strength. That is the underlying purpose of our interest in strengthening Mongolia’s democratic institutions, enhancing its national sovereignty, and diversifying the Mongolian economy.
Lastly, at the risk of repeating myself, some of you heard in my remarks at the Bank of Mongolia last December, we want to ensure that in the next 35 years of our relationship the core shared values that have brought us together thus far continue to flourish. We see a Mongolia that stands tall among democracies, a model for others in the region to emulate; a Mongolia that not only upholds the fundamental rights of its people, but also champions the rights of all people on the global stage; a Mongolia with a robust, diverse economy where investors come in confidence and aspiring young entrepreneurs know their innovation and hard work will be rewarded. The United States is proud to stand with it as it forges a future that delivers on the hopes and aspirations of the Mongolian people.
During my tenure, we will devote no less persistence than you to achieving our collective aims, ensuring that AmCham’s unique, essential voice will ring persuasively before government and parliament. And ensure that Mongolia’s hopes and aspirations are realized with the partnership of its Third Neighbors.
Thank you all, happy 2023, and I wish you continued success in the days ahead.
 
 
 
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