Companies raise 2.6 billion USD from foreign investors www.ubpost.mn

Capital Markets Mongolia (CMM) has released Mongolia DealBook 2025, its inaugural flagship report tracking how the country’s private sector accessed foreign capital and what those transactions reveal about the rapidly evolving investment landscape.

According to the report, 2025 marked a breakout year for Mongolia. Across 40 completed transactions, 19 Mongolian companies raised a combined 2.6 billion USD from international investors, reflecting both a sharp increase in deal volume and growing sophistication in how capital is structured and deployed. The transactions spanned a widening range of sectors and funding instruments, underscoring Mongolia’s deeper integration into global capital markets. 

The DealBook was developed to answer four core questions for global investors: who raised capital, who invested, why capital was raised and how the deals were structured. By addressing these questions, the report aims to provide clarity and context for international stakeholders assessing Mongolia as an investment destination.

Financial services continued to dominate foreign capital inflows. The banking sector reaffirmed its position as the primary gateway for international investment, buoyed by sovereign credit rating upgrades and improved access to global markets. Non-bank financial institutions also attracted notable interest, reflecting strong demand for impact-driven and specialized financial platforms. Mining remained a key contributor to total capital raised, highlighted by a major international bond issuance, while sectors such as fintech, agriculture, and diversified conglomerates showed early but growing signs of diversification beyond traditional industries.

Beyond the headline numbers, the report points to several structural trends shaping the nation’s investment profile. Capital formation remains largely debt-led, with private credit and bond issuances accounting for the majority of funding. International institutional investors, including development finance institutions, international financial institutions and emerging market credit funds, continue to anchor deal flow, particularly within financial services. At the same time, the use of proceeds has become increasingly strategic, with capital directed toward SME lending, financial inclusion, digital expansion, and balance sheet optimization rather than short-term financing needs. CMM notes that these developments signal a maturing market. Mongolia is not only raising more capital, but doing so in a more deliberate and strategic manner, while engaging a broader and more diverse set of global partners.

The Mongolia DealBook 2025 forms part of CMM’s broader mission to build stronger connections between Mongolia and international capital markets. By improving transparency, identifying active market participants, and offering insight into deal dynamics, the report is intended to support both global investors and Mongolian companies seeking to position themselves for cross-border financing. The data underpinning the report is drawn from publicly available sources. While some transactions, particularly in the mining sector, remain undisclosed, CMM believes the DealBook provides the most comprehensive snapshot to date of Mongolia’s private-sector engagement with foreign capital.

Four countries ratify Eurasian Interim Trade Agreement www.gogo.mn

Mongolia’s three-year interim trade agreement with the Eurasian Economic Union (EAEU) is moving closer to implementation as four parties have completed their domestic ratification procedures.

The agreement, aimed at diversifying foreign trade, reducing dependence on a single market, and expanding exports of agricultural and livestock products, will enter into force 60 days after Mongolia and all EAEU member states finalize ratification and exchange official documents.

So far, Mongolia, the Russian Federation, the Republic of Belarus, and the Republic of Kazakhstan have ratified the agreement. Parliamentary discussions are still ongoing in the Republic of Armenia and the Kyrgyz Republic.

Under the interim agreement, the two sides agreed to apply four types of tariff regulations to 367 goods identified by six-digit Harmonized Commodity Description and Coding System (HS) codes. These measures include the elimination or reduction of customs duties, zero tariffs within designated quotas, and the provision of tariff concessions. The regulations apply exclusively to customs tariffs and do not affect value-added or excise taxes.

Agricultural and livestock products account for 97.5% of Mongolia’s exports covered by the agreement, while 81.7% of imports from the EAEU consist of mineral and chemical products, sectors in which Mongolia has limited domestic production capacity. Industrial goods make up 7.5% of imports.

To protect domestic producers, the agreement includes safeguards such as quotas on essential food items, including wheat and eggs, with customs duties applied if imports exceed the approved limits.

The implementation of the agreement is expected to lower household consumption costs by removing customs duties on essential goods and equipment not produced domestically, reducing import expenses, and eliminating tariffs on 42 types of imported products used in inflation calculations.

Trade facilitation measures are also included, such as tariff preferences for export goods containing more than 50% domestically sourced inputs, self-declaration of origin for goods valued at under 5,000 euros, and the introduction of risk-based inspections. These provisions are expected to reduce administrative and operational costs for businesses.

In preparation for the agreement’s entry into force, Mongolia has been taking steps to improve exporters’ understanding of trade regulations. Relevant agencies from Mongolia and the Russian Federation have jointly organized online training sessions and seminars on foreign trade rules, standards, and quarantine requirements. In cooperation with the Mongolian National Chamber Of Commerce And Industry, research is also underway to identify practical barriers faced by exporters and to provide targeted support for accessing the EAEU market.

In Mongolia, a camel milk production farm is successfully operating www.open.kg

The first camel milk farm in Mongolia aims to present its products, including dairy products made from camel milk. This information is provided by MiddleAsianNews.

Established five years ago with the support of the group of companies Solid Partners, the farm houses 225 camels, of which 160 are females. Seventy camels are involved in the milking process, producing between 140 to 150 liters of milk per day.

Each female camel provides 2.5 liters of milk, which is twice as much as grazing camels. In summer, their productivity can increase to four liters. The use of special milking equipment has significantly increased milk yields and reduced time costs.

The Solid Partners Group provides jobs for 15 people.
The farm produces eight different types of products, including yogurt, drinks, and powdered milk, which are supplied to the domestic market. The company's plans include exporting its products to other countries.

Tsend-Ayush Bayanmunkh, the director of the company, emphasized that to meet domestic demand, it is necessary to milk 60,000 camels, of which 4,000 liters of milk will go for production. However, it is important to establish a market for this product within the country first.

The milk production plant is located in the Dalanjzadgad sum, Umnugovi province, while the main farm is situated in the Khankhongor sum of the same province.

“In the near future, our goal is to increase production volumes to 750 liters per day, using both our own resources and the capabilities of strategic partners. Over the next three years, we aim to achieve 4,000 liters per day by expanding the farm to accommodate 1,000 milking camels and creating three cooperative farms with 200 camels each. Cooperative partners will manage the processes, while we will provide infrastructure support and purchase milk under long-term contracts. The long-term goal of Solid Partners Group is to enter the international market with products made from Mongolian camel milk and create our own brand,” noted Tsend-Ayush Bayanmunkh.

The company Solid Partners Group LLC has all the necessary resources to elevate the Mongolian camel milk industry to a new level, combining traditions, health, innovation, and sustainable development.

Kazakhstan ratifies agreement with Mongolia on pension cooperation www.qazinform.com

Kazakh President Kassym-Jomart Tokayev on Monday signed a law ratifying the Agreement between the Kazakh and Mongolian Governments to cooperate in the pension sector, Qazinform News Agency cites Akorda.
The text of the law is set to be published in the press soon.

By ratifying the agreement, the governments of Kazakhstan and Mongolia are set to cooperation in the pension sector, as well as safeguard the rights of both states’ citizens in pension provision.

Earlier, Qazinform reported Kazakhstan signs an agreement with the AIIB to facilitate sustainable economic growth, regional cooperation. 

S.Davaasuren: Air pollution decreased by 26% compared to the same period last year www.gogo.mn

On February 6, S.Davaasuren, Head of the National Committee's Office, said:

- Comparing December last year with the same period last year, air pollution in the capital decreased by 26%. It also decreased by 26% in January. It is not clear whether the measures against vehicle emissions have been implemented, but rather due to fuel reform and stove reform.

According to laboratory tests, sulfur in semi-coked fuel has decreased by 46% compared to the previous improved fuel.

L.Battur, director of the National Center for Public Health, said his agency monitors health harms linked to air pollution and pays particular attention to carbon-monoxide (CO) poisoning.

He gave figures for 2023–2025: 3,184, 2,830 and 2,267 people poisoned respectively. Death reported; 61 (2023), 53 (2024) and 30 (2025).

Health officials stressed the need to clarify the reasons behind those numbers and to develop prevention measures. They cautioned that the warm season (February–May) brings an increase in CO-poisoning cases and urged the public to follow safety guidance.

Parliament Speaker Uchral Nyam-Osor to Visit Russia www.montsame.mn

 At the invitation of the Chairman of the State Duma of the Federal Assembly of the Russian Federation, Vyacheslav Viktorovich Volodin, Chairman of the State Great Khural (Parliament), Uchral Nyam-Osor, will pay an official visit to the Russian Federation from February 9 to 12, 2026.

The purpose of this visit is to further develop the comprehensive strategic partnership between Mongolia and Russia, maintain the regularity of high- and top-level mutual visits, continue political dialogue, and expand cooperation between the legislative bodies. The visit also aims to create a favorable legal environment for advancing cooperation in the political, economic, business, and trade sectors.

During the visit, Speaker Uchral will hold official meetings with Chairman of the State Duma Vyacheslav Volodin and Chairwoman of the Federation Council Valentina Matviyenko, during which the parties will exchange views on traditional relations between the two neighboring countries and parliamentary cooperation.

Within the framework of the visit, the second meeting of the Joint Commission on Cooperation between the State Great Khural of Mongolia and the Federal Assembly of the Russian Federation will be held in Moscow. The speaker will also meet with the Chairman of the Board of the Eurasian Economic Commission, Bakytzhan Sagintayev, to exchange views on issues related to the implementation of the Interim Trade Agreement concluded between Mongolia and the member states of the Eurasian Economic Union. In addition, he will take part in the Mongolia–Eurasian Economic Union Business Forum.

The Mongolian faction in the 119th Congress of the USA has been reestablished www.open.kg

The Mongolian Caucus (The Mongolia Caucus) has resumed its activities in the 119th Congress of the USA. The co-chairs of the caucus are Democrat Dina Titus, representing the state of Nevada, and Republican John Moolenaar from the state of Michigan.

The main goal of the Mongolian Caucus is to strengthen relations between the U.S. Congress and the Parliament of Mongolia, as well as to garner support for the development of bilateral cooperation in all areas.

This renewal has facilitated the development of interaction between the 119th U.S. Congress and the Mongolian Caucus, creating new opportunities for expanding bilateral relations and coordination.

The U.S. Congress consistently supports democratic processes and the development of Mongolia, which is reflected in the adoption of numerous resolutions. In December 2020 and on April 15, 2021, the House of Representatives and the Senate approved a resolution affirming the strategic partnership between the U.S. and Mongolia.

Aliki (Alice) Konstantina "Dina" Titus is an American Democratic politician who has been a member of the U.S. House of Representatives from Nevada's 1st congressional district since 2013, previously representing the 3rd district (2009–2011) and serving as a state senator in Nevada (1988–2008). From 1993 to 2008, she held the position of minority leader. Before her congressional career, she worked as a political science instructor at the University of Nevada, Las Vegas from 1977 to 2011.

On her mother's side, Dina has Greek roots from Thessaly (Greece). In 1911, her grandfather Arthur Konstantinos Katonis, after whom she was named Konstantina, emigrated to Ellis Island in the USA. He owned the "Plaza" restaurant in Tifton and personally taught his granddaughter the Greek language and cooking. In 1980, Titus visited Greece for the first time and met relatives in Athens and Trikala.

Titus is also known as the author of a bill that requires health insurers to cover the costs of the Gardasil vaccine against the human papillomavirus. This bill was passed by both the Senate and the Assembly and then signed by Governor Jim Gibbons.

John Robert Moolenaar is a Republican representing the state of Michigan in the U.S. House of Representatives since 2015, initially from the 4th district and since 2023 from the 2nd district. Previously, he was a member of the Michigan House of Representatives (2003–2008) and the state Senate (2011–2014).

Moolenaar, born on May 8, 1961, in Midland, Michigan, has Dutch ancestry. He earned a Bachelor of Science degree in Chemistry from Hope College in 1983 and later, in 1989, a Master of Public Administration degree from Harvard University.

The U.S. Agency for Trade and Development Collaborates with Mongolia to Develop Safe Direct Air Transport www.open.kg

As reported by MiddleAsianNews, the signing of a new agreement between USTDA and the Mongolian Civil Aviation Authority marks an important step towards organizing direct flights between the United States and Mongolia.

The U.S. Trade and Development Agency is actively working to strengthen America's position in the Indo-Pacific region by creating safe and reliable air routes between the two countries.

On February 5, 2026, USTDA signed an agreement to provide technical assistance to support the Mongolian Civil Aviation Authority (MCAA) in improving aviation safety regulation and oversight, which will allow Mongolia to strive for Category 1 (CAT 1) status from the U.S. Federal Aviation Administration. This will be an important step towards establishing direct flights between the two countries.

Achieving CAT 1 status will also simplify the export of rare earth elements and other critical minerals, enabling Mongolia to access international markets and create more resilient supply chains.

Thomas R. Hardy, Deputy Director of USTDA, noted: "Deepening cooperation in regulation and information sharing between the U.S. and Mongolia will allow for faster identification and mitigation of transnational threats. These efforts strengthen America's position in the Indo-Pacific region and provide long-term benefits to Mongolia, which seeks to modernize its aviation sector and develop international trade."

For the study, MCAA selected The Wicks Group Consulting, LLC (TWG), based in Washington. The working group will analyze current deficiencies, develop an action plan, and provide targeted training for MCAA staff to address violations of International Civil Aviation Organization standards. This will help attract funding for future investments in the aviation fleet and implement proven American solutions instead of subsidized alternatives from other countries.

Gankbold Gochoo, Deputy Minister of Road and Transport of Mongolia, stated: "Establishing direct air communication will create enormous opportunities for deepening socio-economic ties between Mongolia and the U.S. It will promote trade development and strengthen friendly relations between our countries. We greatly appreciate USTDA's support and its contribution to funding the technical assistance needed to address gaps in safety oversight and personnel training. This agreement is an important step towards establishing direct flights, which will allow us to leverage American expertise to enhance the effectiveness of civil aviation regulation in Mongolia."

The U.S. Trade and Development Agency (USTDA) is an independent federal agency established in 1961. It is responsible for assisting other countries in creating favorable conditions for trade and developing infrastructure that supports market economies. The Director and Deputy Director of the agency are appointed by the President with the consent of the Senate and work in coordination with the U.S. Secretary of State. USTDA's mission is to promote economic growth in developing countries and ensure access for American companies to their markets, ultimately creating new jobs in the U.S. The agency currently operates in 66 countries.

USTDA operates in a coordinated manner with other federal agencies, but unlike the U.S. Agency for International Development (USAID), it prioritizes projects that ensure the export of American goods and services. As a result, most USTDA projects are implemented in Latin America, Europe, and East Asia.

The agency is a key government entity for developing critical infrastructure in emerging markets, advancing the strategic interests of the U.S. and its partners, and creating opportunities for the implementation of proven American solutions. USTDA funds preliminary technical work that accelerates the implementation of infrastructure projects, helping to attract the necessary funding for their execution and the procurement of American products.

In 2025, the private sector of Mongolia attracted a total of $2.6 billion from international markets www.open.kg

In 2025, the private sector of Mongolia demonstrated outstanding results, completing 40 deals that attracted $2.6 billion from international investors. This financing covered 19 companies across various sectors, and the DealBook report answers important questions for global investors: who raised capital, who invested, what the capital was raised for, and how the deals were structured.

A Breakthrough Year for the Economy

In 2025, 19 companies in Mongolia successfully completed 40 deals, of which 32 were related to sustainable financing, with a total volume of $1.8 billion. In turn, $1.4 billion was obtained through loan operations, while $1.1 billion came from bond issuances. The remaining $21 million (1%) was raised through equity.

Key Facts:

40 completed deals

Total capital raised: $2.6 billion

19 Mongolian companies attracted foreign financing

Financing through 40 Deals

In 2025, 19 local companies executed 40 deals, of which 32 deals amounting to $1.8 billion were related to sustainable financing, while $1.4 billion was linked to loans and $1.1 billion to bonds. Only $21 million (1%) was raised through equity.
Major financing organizations: The European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO) accounted for 34.6% of the total financing volume. EBRD allocated $346 million across 7 deals, while FMO invested $537 million in 5 deals.

Sector Analysis

Banking Sector: Seven banks in Mongolia attracted about $2.05 billion, confirming their role as the primary channel for international capital, aided by an improved sovereign credit rating and access to markets.

Non-Banking Financial Institutions (NBFIs): 8 NBFIs managed to attract $108 million, indicating growing investor interest in specialized and effective financial platforms.

Mining Sector: Mongolia issued bonds worth $350 million on the international market on behalf of a mining corporation.

Other Sectors: Financial technology, agriculture, and conglomerates collectively attracted $39 million, indicating an initial but growing diversification beyond traditional areas.

The Banking System Leads

In 2025, seven commercial banks, including M Bank and Bogd Bank, attracted $2 billion from international sources. KHAN Bank became the leader in lending volume with $515 million, followed by Trade Development Bank (TDB) with $460 million.

In Conclusion... In 2025, Mongolia reached a credit rating level of BB- (S&P) and B1 (Moody's), significantly contributing to attracting foreign investors. It is hoped that local companies will soon be able to conduct international IPOs and delight investors.

The IJF and Mongolia Sign for Four New Grand Slams www.ijf.org

As the Paris Grand Slam was drawing to a close, the future of the World Judo Tour was already being shaped. Marius Vizer, President of the International Judo Federation, and His Excellency Battulga Khaltmaa, President of the Mongolian Judo Association, signed the contract confirming the organisation of four additional grand slams in Ulaanbaatar in the coming years.

The renewal confirms Mongolia’s key role within international judo. The country has repeatedly proven itself not only as a land of champions but also as a host capable of delivering major events at the very highest standard. Each edition in the Mongolian capital has combined sporting excellence, enthusiastic crowds and outstanding organisation.

The announcement carries particular meaning this season. Ulaanbaatar will host the event that launches the Olympic qualification period for the Los Angeles Olympic Games. This milestone has been awaited for months by athletes and federations across the globe, marking the true beginning of the race towards the next Olympic Games. By extending the partnership, the IJF reinforces the confidence placed in Mongolia.

Mongolian judoka are recognised worldwide for their fighting spirit, their respect and consistency on the international stage. From grand slams to world championships and Olympic arenas, regularly they stand among the medal winners. Hosting the event at home offers young athletes there the chance to witness elite performance at close range. At the same time, visiting delegations experience a nation deeply attached to judo and its values of respect, courage and friendship.

The handshake between Presidents Vizer and Battulga symbolised shared trust and a common vision for the future. Mongolia will continue to welcome the world and the world will continue to discover Mongolia.