1 WHAT WILL DRIVE MONGOLIAN POLITICS AND ECONOMY IN 2026? WWW.THEDIPLOMAT.COM PUBLISHED:2025/12/30      2 MONGOLIA 2025: MAPPING FOREIGN POLICY AND POLITICAL CHANGE WWW.INSIDEMONGOLIA.MN PUBLISHED:2025/12/30      3 MONGOLIA LAUNCHES 24/5 OTC SECURITIES TRADING WWW.POSTTRADE360.COM PUBLISHED:2025/12/30      4 THE LEGENDARY SLEEPER TRAIN CONNECTING 3 COUNTRIES IN 7 DAYS CROSSES 8 TIME ZONES WWW.MIRROR.CO.UK PUBLISHED:2025/12/30      5 MONGOLIA CELEBRATES RESTORATION OF ITS INDEPENDENCE WWW.MONTSAME.MN PUBLISHED:2025/12/30      6 LIVESTOCK NUMBERS UP 0.8 PERCENT, HERDER HOUSEHOLDS DOWN BY 1,600 WWW.MONTSAME.MN PUBLISHED:2025/12/30      7 OVER 850,000 TOURISTS VISIT MONGOLIA THIS YEAR WWW.MONTSAME.MN PUBLISHED:2025/12/30      8 DRAFT TAX REFORM PACKAGE UP FOR PARLIAMENT SUBMISSION WWW.UBPOST.MN PUBLISHED:2025/12/26      9 MONGOLIA LAUNCHES WORLD'S FIRST 24/5 BLOCKCHAIN-BASED SECURITIES TRADING WWW.KIPOST.NET  PUBLISHED:2025/12/26      10 CONSTRUCTION OF OIL REFINERY AT 50 PERCENT COMPLETE WWW.MONTSAME.MN PUBLISHED:2025/12/26      ЭНЭ ОНД ДҮҮЖИН ЗАМЫН ТЭЭВРИЙН 18 ТУЛГУУР БАГАНЫГ СУУРИЛУУЛЛАА WWW.GOGO.MN НИЙТЭЛСЭН:2025/12/30     МАНАЙ УЛСАД ЭНЭ ОНД 850 МЯНГАН ЖУУЛЧИН ИРЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/12/30     СЭМЮЭЛ БЕКЕТТ ГҮҮР МОНГОЛ УЛСЫН ТӨРИЙН ДАЛБААНЫ ӨНГӨӨР ГЭРЭЛТЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/12/30     ХСҮТ РОБОТ МЭС ЗАСЛЫН ЭМЧИЛГЭЭГ АМЖИЛТТАЙ НЭВТРҮҮЛЛЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/12/30     НИТХ: НИЙСЛЭЛ 77 ТЭРБУМААР 2000 ЦАХИЛГААН МАШИН ХУДАЛДАН АВЧ, ТАКСИ ҮЙЛЧИЛГЭЭНД ЯВУУЛАХЫГ ДЭМЖЛЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/12/30     ТАЙЛАНДААС МОНГОЛ РУУ ЧИГЛЭСЭН ЗАЛИЛАН ҮЙЛДЭЖ ₮1.1 ТЭРБУМЫН ХОХИРОЛ УЧРУУЛСАН ЭТГЭЭДИЙГ БАРИВЧИЛЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/12/30     УЛСЫН ХЭМЖЭЭНД МАЛЫН ТОО 445 МЯНГААР ӨСЧ, 58.1 САЯ ТОЛГОЙ МАЛ ТООЛОГДЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/12/30     Ж.ЧИНБҮРЭН: ХДХВ/ДОХ-ЫН ХАЛДВАРТАЙ 12 ИРГЭН ХЯНАЛТАД ОРОХГҮЙ АЛДАГДСАН НЬ ҮНЭН WWW.GOGO.MN НИЙТЭЛСЭН:2025/12/26     БАТ-ӨЛЗИЙ, ХУЖИРТ СУМЫГ ХОЛБОСОН АВТО ЗАМЫГ УЛСЫН КОМИСС ХҮЛЭЭН АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/12/26     "ОЮУТОЛГОЙ"-Н ТОГТООЛЫН ТӨСӨЛ БАТЛАГДАЖ, ТҮР ХОРОО ТАТАН БУУГДЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/12/26    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2025 London UK MBCCI London UK Goodman LLC

NEWS

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Average price of second-hand home in Mongolia's capital rises 14.7 pct in September www.xinhuanet.com

The average price per square meter for second-hand apartments in Mongolia's capital reached 4.7 million Mongolian Tugriks (1,308 U.S. dollars) in September, up 14.7 percent year-on-year, the National Statistics Office said Tuesday.
Meanwhile, the average price per square meter of newly constructed apartments in Ulan Bator was 4.8 million Mongolian Tugriks (1,335 dollars) in September, reflecting a 13.5 percent rise from the corresponding period last year.
According to experts, the significant increases were largely related to an increase in real estate demand.
Mongolia is the world's most sparsely populated country. However, housing is one of the most pressing issues in Mongolia, especially in Ulan Bator, home to over half of the country's population of 3.5 million. More than half of Mongolia's capital residents live in ger districts, with no running water, central heating, or sewerage systems.

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Mongolia Set to Launch Interim Population and Housing Census in 2025 www.montsame.mn

The National Statistics Office of Mongolia has launched an interim population and housing census in 2025 using a register-based method. The census aims to collect and analyze key data on the population, including socio-economic status, employment, education, migration, and housing types and conditions.
The survey will utilize core and specialized databases from 15 government agencies, in accordance with the Law on the Population and Housing Census of Mongolia, and the United Nations Principles and Recommendations for Population and Housing Censuses.
Citizens can take part in the “Interim Population and Housing Census – 2025” through the e-Mongolia portal or mobile app. After logging in, users can access the census by clicking the banner on the homepage, which redirects to 2025.mn to complete the survey.
To ensure the accuracy and quality of the data, the National Statistics Office announced it will contact individuals to follow up on outstanding details by phone over a two-month period, from October 15 to December 15, 2025.
By integrating and processing the collected information within a unified system, the Committee will produce essential baseline data to assess Mongolia’s demographic structure and socio-economic conditions. The National Statistics Office urges all citizens to actively participate in the “Population and Housing – 2025” interim census.

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Mongolia’s president vetoes effort to unseat PM www.aljazeera.com

Mongolia’s president has vetoed a parliamentary resolution to dismiss the country’s prime minister, deepening a political crisis in the resource-rich state.
President Ukhnaa Khurelsukh issued the veto on Monday, three days after parliament voted to oust Prime Minister Gombojav Zandanshatar, who had drawn anger for changing the country’s mineral policy.
Khurelsukh’s office said parliament’s attempt to remove Zandanshatar, a fellow member of the ruling Mongolian People’s Party (MPP), was invalid because it did not have a quorum when it began the session.
“These procedural flaws constitute a breach of the Constitution and compromise the principle of the rule of law,” said the president in a statement cited by the state Montsame news agency.
Mongolia’s constitutional court has scheduled a meeting to discuss the president’s veto.
The contention over Zandanshatar’s fate is part of a deeper feud within the MPP. In September, Zandanshatar lost a party leadership election to his chief rival, parliamentary speaker Amarbayasgalan Dashzegve, who himself resigned last week amid corruption allegations.
The crisis follows a wave of popular unrest in Mongolia, which though rich in natural resources, has been bogged down by perceived corruption and a weak economy.
Such tumult forced out Zandanshatar’s predecessor, Luvsannamsrain Oyun-Erdene, in June after he lost a no-confidence vote in Mongolia’s parliament.
Zandanshatar, for his part, had faced criticism from lawmakers, including from his own party, over an overhaul to minerals policy that would make exporters pay royalties based on domestic stock prices, rather than international benchmarks used since 2021, which critics warned could hurt the national budget.
He also drew fire for appointing a justice minister without notifying parliament, which MPs said was unlawful.
The Mongolian president returned to Ulaanbaatar last Thursday after a state visit to India, where officials reached agreements in areas including oil and gas.

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Mongolia’s Political Wrangling Sparks a Constitutional Crisis www.thediplomat.com

Mongolia is going through another period of political turmoil. The newly elected Prime Minister Zandanshatar Gombojav was ousted by parliament and the speaker of Mongolian Parliament, the State Great Hural, Amarbayasgalan Dashzegve resigned, both on October 17. These changes at the top follow a major power struggle within the ruling Mongolian People’s Party (MPP), which has now become a destabilizing factor for Mongolia’s governance.
The political battle is also raising constitutional questions. On October 20, President Khurelsukh Ukhnaa vetoed the Parliament’s resolution to dismiss the prime minister Zandanshatar Gombojav, saying the process was unconstitutional. The State Great Hural now has three days to respond.
On the night of October 16, a parliamentary session continued for 24 hours before the assembly voted to oust Zandanshatar as prime minister with 71 votes in favor out of 126 total seats. Under Mongolia’s 2019 constitutional amendment, parliament has the power to remove a prime minister with a simple majority vote. 
Khurelsukh criticized the process, saying in a statement that “the voting formula was incorrectly used.” He also claimed that attendance at the session had been based on a count on October 16. Khurelsukh argued that attendance needed to be retaken ahead of the actual vote, which took place on October 17.
The reason for this political fiasco boils down to an internal battle for control of the MPP. Last month, Zandanshatar and Amarbayasgalan battled over the party chairmanship, deepening divides between political factions within the MPP. Some might even say the hostility had begun earlier, when the Oyun-Erdene Luvsannamsrai government was ousted, and competition sharpened to fill the prime minister post. 
From the outside, political backstabbings were happening right and left. Weeks of political wrangling and character assassinations of party members eventually came to play out within the parliament itself, which voted Zandanshatar out of office while removing his main rival, Amarbayasgalan, as speaker at the same time. 
To the Mongolian public, however, the political fiasco not only demonstrates a lack of confidence in the prime minister and his Cabinet but also is a blow to hopes that corruption cases will be solved, air pollution will be reduced, and salaries will rise. The real elephant in the room is what is happening behind-the-scenes, as actors and stakeholders are attempting to avoid legal hearings on coal and corruption related matters. These events seem all too familiar to the public, as Mongolia has a history of unstable government and ousting of the executive branch. 
On a governance level, the repeated failure to solve issues within the ruling party is now spilling over to the executive branch, which raises more questions of accountability on Mongolia’s overall political landscape. This political crisis unfolded while Khurelsukh (also of the MPP) was abroad on an official visit to India.
For now, Mongolia is bracing for another government change while constitutional experts discuss whether the process to oust Zandanshatar was done in accordance with the Constitution. If the Constitutional Court deems that the parliament’s decision to oust the prime minister was unconstitutional, Mongolia could welcome Zandanshatar 2.0, maybe with different ministers. If the process was constitutional, Zandanshatar will continue his role until the new prime minister is appointed – and his rival, Amarbayasgalan, may seek that office.
The Failed Promise of A Reformed Legislature
The fall of 2025 was supposed to be the first full session of Mongolia’s enlarged legislative branch, which now has 126 members (a substantial increase from the previous 76). Newly elected members from diverse political parties showed deep frustration and concern over the corrupt nature of Mongolia’s political life, filled with inept mechanisms. On October 16, not enough MPs attended for a quorum to be formed, delaying the vote on the prime minister’s dismissal. 
Luvsanjamts Ganzorig, a newly elected member from MPP, was furious. In his remarks, he condemned the ministers who have served multiple terms yet failed to deliver results to the people. He stated, “In the last two weeks, none of the members discussed solutions, only excuses. I am distraught.” Other MPP members also shared concern and frustration over MPs who did not attend the parliamentary session. 
Munkhbayasgalan Bayasgalan, also a new MP from the Democratic Party, told the press that “as someone who just started in the legislative branch, watching the ongoing political fiasco, I am disgusted.” She reminded the members of the Parliament, especially those who did not show up to the sessions, that they are elected to represent the people, not politicians. 
Corruption: A Root Cause 
There are several elements to the current political landscape of Mongolia, but corruption always looms large. 
After losing to Amarbayasgalan in the MPP’s party chair contest at the end of September, Zandanshatar announced that that he would be replacing the justice minister and accused Amarbayasgalan of complicity in grand corruption involving coal theft. Zandanshatar also vowed to combat alleged corruption related to the Erdenet Mining Corporation and international aid intended to fight the COVID-19 pandemic.
In recent years, Mongolia’s political landscape has been filled with popular protests against corruption, sparking resignations of officials and ousting of governments. The root cause of the political chaos and social distress is prolonged corruption and judicial complacency. 
In March, the United Nations Human Rights Committee noted that the Mongolian government has not effectively resourced nor utilized independent corruption agencies. The committee “expressed concern over widespread corruption in the State party, including high-level cases involving public officials and politicians.”
The committee took Mongolia to task for “the lack of data on convictions and sanctions of corruption cases.” It also “highlighted issues affecting the independence and effectiveness of the Independent Authority Against Corruption (IAAC), such as insufficient resources and political pressure.” 
The committee “called on Mongolia to strengthen anti-corruption efforts by ensuring effective law enforcement, prioritizing investigation and prosecution of corruption cases involving high-level politicians and officials, improving training for legal professionals, and protecting whistle-blowers and witnesses.” 
Mongolia’s corruption issue is also reflect in various internationals indices measuring good governance. In 2024, the Bertelsmann Stiftung Transformation Index (BTI) scored Mongolia 5.83 out of 10. The index indicated corruption as a major hindrance to governance. 
The 2024 BTI report also highlighted Mongolia’s decline in the Electoral Democracy Index, receiving 0.527 out of 1 in 2023 (versus 0.572 in 2022). The decline resulted in Mongolia dropping four places, from 77th to 81st in 2023. 
Mongolia scored 33 out of 100 in Transparency International’s 2024 Corruption Perception Index. While the score has been stagnant for the last few years, it has been on a downward trend since 2014 and 2015, Elberdorj Tsakhia’s presidency, when Mongolia’s score was 39.
Despite numerous corruption scandals and rounds of protest over the past five years, the government of Oyun-Erdene, in office from January 2021 to June 2025, did not finalize many corruption cases. Draft laws to fight corruption and protect whistleblowers languished for years in the parliament under the previous government, when Zandanshatar himself was speaker.
Many observers noted that the MPP has consolidated power of all three branches of government – the Office of the President, the executive, and the legislative branch – yet corruption remained a high concern, suggesting a lack of political will. 
Recent events also create issues and anxieties for foreign investors, whom Mongolia is desperately trying to attract. As income from coal declines while gold and copper prices are ascendent, the government had been promoting potential new mining projects, including in the budget submitted just before the current crisis. 
Escalating Popular Dissatisfaction With Governance 
Over and over again, through different administrations, the Mongolian people have voiced their concerns by protesting, demonstrating, striking, and boycotting. The missing piece here is the government’s response to the people’s demands.  
As each turn of events sharpens the bickering within the MPP, these internal party divides hinder Mongolia’s governance. The lack of government action could contribute to inciting revolution, especially considering the growing number of protests, demonstrations, and strikes. 
The corruption that is fueling the Mongolian political landscape is inherent and at some point, these issues need to be fully investigated and solved. Most importantly, public confidence in government has reduced drastically. The prevailing mood in the current environment is that the Mongolian people have not benefited from any of the decisions being made by political elites.
By Bolor Lkhaajav and  Marissa Smith

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TPP V to supply power for 100,000 homes and heat for 40,000 households www.gogo.mn

The capital city faces a growing energy shortfall: peak demand could reach 3,328 MW by 2030, creating a potential 55% capacity deficit unless new generation is added. To strengthen supply, improve reliability and reduce air pollution, the Thermal Power Plant V project is planned to launch in 2026.
Last week the City Council authorized the Governor of Ulaanbaatar to select the contractor for the plant. It will be the first public–private partnership (PPP) power plant in Mongolia, to be built in 20th khoroo of Bayangol District. The facility is designed to produce 300 MW of electricity and 340 Gcal of heat.
About 90% of the electricity generated will be fed into the central grid, helping to stabilize supply across the city. The plant will also enable district heating for parts of the western capital, Tavan Shar, the 21st sub-district, Khilchin town, Bayankhoshuu, and parts of the 3rd, 4th and 1st sub-districts, supplying heat to roughly 40,000 households and creating conditions for reliable energy for approximately 100,000 households and businesses.
City officials say the project is crucial for stabilizing prices and ensuring affordable energy as Ulaanbaatar continues to urbanize rapidly. Strengthening the energy supply is presented as a fundamental requirement for infrastructure development, the investment climate, and overall quality of life in the capital.

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Constitutional Court to Rule on Legality of Prime Minister’s Dismissal www.montsame.mn

The Constitutional Court of Mongolia will convene a public plenary session on October 22, 2025, at 9:30 a.m. to examine the legal dispute concerning the dismissal of the Prime Minister. The session will be held in the Court’s session hall.
The Prime Minister formally petitioned the Constitutional Court to consolidate proceedings and determine whether the dismissal process, as well as the actions of Deputy Chairman of State Great Khural, Bulgantuya Khurelbaatar violated constitutional provisions and procedural requirements.
The case centers on several key articles of the Constitution:
Article 1, Section 2 affirms that democratic principles, justice, freedom, equality, national unity, and the rule of law are foundational to state activity.
Article 43, Section 1 outlines the procedure for dismissing a Prime Minister, requiring a proposal from at least one-fourth of parliament members, deliberation within three days, and a decision within ten days. If a majority supports the proposal, the dismissal is deemed adopted, and a new Prime Minister must be appointed within thirty days.
Article 70, Section 1 mandates that all laws, decrees, and actions of state bodies and citizens must comply with the Constitution.
As the matter demands immediate and thorough judicial review, the Full Bench of the Constitutional Court has completed preparations for the hearing.

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Mongolia's industrial output declines by 3.6 pct in Q1-Q3 www.xinhuanet.com

Mongolia's industrial output totaled 30.7 trillion Mongolian tugriks (8.54 billion U.S. dollars) in the first three quarters of 2025, a 3.6 percent decrease year-on-year, the country's National Statistics Office said Monday.
The decline was attributed mainly to a drop in the output of main mining products, the NSO said in a statement.
During the period, coal production was down 32.3 percent, while crude oil production fell 13.3 percent.
Currently, the mining sector remains one of the main pillars of the Mongolian economy, as the country is rich in natural resources such as gold, silver, copper and coal.
Mining commodities, such as coal, copper, iron ore and unprocessed or semi-processed gold, constituted about 95 percent of Mongolia's total exports during this period, the data showed.

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Mongolia, Czech Republic to cooperate in mega projects www.azertag.az

To reduce traffic congestion and air pollution and improve the living environment for residents, Ulaanbaatar City is implementing major development projects aimed at transforming the Capital’s infrastructure and urban landscape, according to Montsame.
Chief Architect of Ulaanbaatar City, Tugsdelger Chinbat, received a delegation of business representatives led by the Vice President of the Czech Chamber of Commerce, Radek Jakubský. During the meeting, the two sides exchanged views on potential cooperation in these development projects.
The Governor's Office of the Capital City of Ulaanbaatar presented an overview of 24 mega development projects. The Vice President of the Czech Chamber of Commerce, Radek Jakubský, noted, “The progress, feasibility studies, and research of these projects are convincing. We are pleased to cooperate in realizing major projects that will bring significant social and economic benefits.”
Chief Architect Ch. Tugsdelger expressed the Capital city’s interest in working with the Czech Republic on infrastructure projects such as metro and tram systems and in sharing experience and technical expertise. Founder and Chief Operating Officer of the Czech architecture and construction company “Atelier Tsunami,” Aleš Krtíčka, introduced the company’s 33 years of experience in both domestic and international markets.
Since the establishment of diplomatic relations between Mongolia and the Czech Republic on April 25, 1950, the two countries have developed relations that have now reached the level of a Comprehensive Partnership. Czech-invested and joint-venture companies have invested a total of USD 25.1 million in Mongolia since 1993, reflecting the expansion of bilateral business and economic cooperation.

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Twelve Micro Parks to Be Built Across Eight Districts of Ulaanbaatar www.montsame.mn

Under a decree issued by the Governor of the Capital City, Ulaanbaatar will establish 12 micro parks across eight districts by clearing and redeveloping public land areas.
According to the Governor’s Office of the Capital City, the initiative seeks to enhance residents’ health, safety, and living environment by removing fences, garages, and kiosks from public spaces and converting the cleared areas into green zones.
Two micro parks will be developed in the 22nd and 8th khoroos of Bayangol District.
Tree nurseries have been established on a 0.5-hectare site in Bayanzurkh District for the planned “International Eco Park,” with additional micro parks to follow.
Meanwhile, in Sukhbaatar District’s 13th khoroo, two hectares of land are being cleared for a new park, while 39 land plots in Songinokhairkhan District’s 8th, 39th, and 40th khoroos have already been vacated to create green spaces.
Along the Tuul River in Khan-Uul District’s 22nd khoroo, a landscaped park with recreation areas will be developed in two phases between 2025 and 2026. 
Chingeltei District plans to establish two micro parks, Nalaikh District one, and Baganuur District three green micro parks.
Last year, micro parks with green landscaping were established in Bagakhangai District’s 2nd khoroo; Baganuur District’s 5th khoroo; Bayanzurkh District’s 20th, 34th, and 35th khoroos; Chingeltei District’s 6th, 15th, and 16th khoroos; Songinokhairkhan District’s 11th, 18th, 22nd, and 35th khoroos; Sukhbaatar District’s 17th khoroo; and Nalaikh District’s 5th khoroo.

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Mongolian prime minister steps down after four months www.reuters.com

Mongolian Prime Minister Gombojav Zandanshatar has stepped down after losing support of the country's parliament, Chinese state media reported on Friday, vacating the pivotal role after taking office just four months ago.
Lawmakers on Friday voted for the dismissal of Zandanshatar, a former foreign minister and parliamentary speaker, following a meeting, according to China's official Xinhua news agency.
The 55-year-old was confirmed as the country's 32nd prime minister in June after his predecessor, Luvsannamsrai Oyun-Erdene, quit, also after losing parliamentary backing, due to corruption claims and street protests.
Ukhnaa Khurelsukh, Mongolia's head of state and president since 2021, is expected to nominate the next prime minister, who would require the approval of the State Great Khural, or parliament.
Mongolian politics has been rocked by waves of volatility in recent years amid public anger over corruption and a weak domestic economy.
The dismissal of two prime ministers within months will also cast uncertainty over policy continuity and erode investor sentiment for  the resources-rich country.
Earlier this month, the World Bank slashed its forecast for Mongolia's 2025 economic growth to 5.9% from its April estimate of 6.3%, citing lower coal prices, global trade uncertainty, as well as elevated inflation and stagnant wages.
Mongolia's gross domestic product grew 4.9% in 2024.
Reporting by Ryan Woo; Editing by Christopher Cushing and Lincoln Feast

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