1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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

NEWS

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Mongolia has full potential to meet domestic demand for milk www.montsame.mn

President of Mongolia U.Khurelsukh became acquainted with the operations of ‘Max Agro’ LLC, which is based in Mandal soum of Selenge aimag.
In 2014, ‘Max’ Group and ‘Suu’ JSC imported 300 head of Holstein Friesian dairy cattle from the Slovak Republic, and established ‘Max Agro’ Intensive Livestock Farm.
‘Max Agro’ LLC annually receives about MNT 20 billion worth of milk from 2,500 suppliers and herders, supplying it to ‘Suu’ JSC. The company aims to further expand its activities by increasing the head of cattle from 500 to 1000. It also plans to bring the number of cooperatives established to 10 this year in order to support more herders in working together and putting their livestock animals into economic circulation.
“The sector needs to be supported comprehensively through measures such as creating the conditions for purchasing irrigation systems and farming equipment at discounted prices. Only 50 percent of the current consumption of milk in our country is supplied domestically. By establishing 30 modern farms equipped with advanced technology and about 9000 Holstein Friesian cattle, it will become possible to fully supply domestic demands, and begin exports from 2026,” said M.Bolod, Executive Director of ‘Suu’ JSC.
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Cabinet approves list of imported food products to be exempt from customs duty www.montsame.mn

At its regular meeting today on May 18, the Cabinet approved a list of imported sugar, vegetable oil, and rice to be exempt from customs duty, and tasked Minister of Food, Agriculture, and Light Industry Z.Mendsaikhan to establish agreements with importing companies, which state the rights and responsibilities of the sides involved, in order to ensure the stability of the products’ prices.
To prevent the rise in price and shortage of key commodities, the State Great Khural approved the Law on Exemption from Customs on April 29, 2022. In its framework, the appropriate conditions were created for exempting sugar, sugarcubes, vegetable oil, and rice from customs duty until the end of the year and stabilize its supply and prices.
By exempting the main imported foods from customs duty, its prices are estimated to decrease by 4-7 percent.
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Russia moves to withdraw from WTO, WHO www.rt.com

Russia’s lower house of parliament, the State Duma, is planning to discuss the potential withdrawal of the country from the World Trade Organization (WTO) and the World Health Organization (WHO), according to Pyotr Tolstoy, the vice speaker of the parliament.
“The Ministry of Foreign Affairs sent a list of such agreements to the State Duma, and together with the Federation Council [upper house of parliament] we are planning to evaluate them and then propose to withdraw from them,” Tolstoy said on Tuesday.
The vice speaker said that Russia had already canceled its membership in the Council of Europe, and that leaving the WTO and WHO is next.
“Russia withdrew from the Council of Europe, now the next step is to withdraw from the WTO and the WHO, which have neglected all obligations in relation to our country,” he said.
Tolstoy added that the government is expected to revise Russia’s international obligations and treaties that do not currently bring any benefit but directly damage the country.
In April, Russian President Vladimir Putin said that the “illegal” restrictions placed on Russian companies by Western states run counter to WTO rules, and told the government to update Russia’s strategy in the organization by June 1.
The decision came amid the sweeping Western sanctions imposed on Moscow over its military operation in Ukraine launched in late February. Since then, Russia has been subjected to around 10,000 targeted restrictions, making it the world’s most sanctioned country.
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How Gen Z is hooked on cryptocurrency and NFTs www.bbc.com

The lure of making a quick buck has always attracted young people to invest in risky assets. For Generation Z, it is the volatility - and the decentralised nature - of digital assets such as cryptocurrency and NFTs which appeals. But they are unregulated, meaning there is little investor protection.
"All my friends were talking about [cryptocurrency] so one day I just decided why not just jump in and see if I can make some money," says 20-year-old Paxton See Tow.
All he needed was his phone and trading thousands of dollars' worth of assets was only a click away.
Generation Z - also known as Zoomers - are the age group born between the mid-1990s to early-2000s. They grew up online, playing games and meeting friends virtually, so the transition is natural.
Cryptocurrencies are digital currencies while a "non-fungible token" (NFT) is a way of owning an original digital image, touted as the digital answer to collectables.
Just over a year ago, Paxton bought S$1,000 ($743; £739) worth of Bitcoin - one of the most popular cryptocurrencies - which gave him a 10% profit straight away. He decided to quadruple his portfolio. But then the price fell.
"There's always the saying 'buy low, sell high' but I did the complete opposite. I let my emotions get the better of me," he says.
He had lost a thousand dollars, on top of all the money he had invested, before he could pull his money out and re-strategise.
For another, older trader, Kelvin Kong, the loss was much bigger. After making six figures in 2017, he lost more than half a million dollars the following year.
"I lost everything," he says. "I thought I was the king of trading and my head got really big so I thought nothing could bring me down and I kept buying," he says.
In the end, he only had a few hundred dollars left in his bank account.
"I think I almost went into depression. I had suicidal thoughts."
The boom in crypto and NFTs trading among young people worries him.
"A lot of them will lose money at the end of the day," he adds.
Gamification of trading
But cautionary tales of people losing huge amounts of money don't seem to deter young traders.
For many, the first taste of digital assets are through "play-to-earn games" which reward players with NFTs and cryptocurrencies that can then be used within the game itself, or traded for cash.
"Every kid wants to make money playing games," says a 23-year-old trader in Malaysia who goes by the name of YellowPanther. "That's the dream of my generation."
A month after he started trading NFTs last August, he decided to quit his job as a marketing executive to trade them full time.
"The day job took a long time - eight to nine hours a day - and the pay was quite low. I saw a big opportunity in the [NFT] space and I took the leap of faith," he says.
YellowPanther now works with 29-year-old Resh Chandran, who offers training in conventional stocks, cryptocurrency and NFT trading in Singapore.
Using Axie Infinity, one of the most popular "play-to-earn games", Mr Chandran introduces investors to mostly Filipino gamers who play on their behalf for a fee.
But he warns the space is a "wild wild west".
The pandemic has only accelerated this growing trend of young people trading crypto and NFTs.
"There was an extreme level of volatility in the marketplace so when you have volatility you also have opportunity in the market," says Lily Fang, a professor of finance at INSEAD business school.
"Young people were at home and it's almost a gamification of trading. All of these factors created a perfect condition for this to take off."
Financial influencers
For many young wannabe traders, advice is readily available on platforms such as YouTube, Twitter and Reddit.
Brian Jung, 23, boasts one million YouTube followers but compared to other crypto influencers, he is known to talk more cautiously about the risks.
"I really have to make sure I'm careful about what I say to my audience because the last thing I want is for people to get hurt from these types of videos," he tells the BBC.
Brian's family emigrated from South Korea to the US and he believes his background affects how he invests and talks about money.
"Our family always struggled financially so I always have this frugal mindset," he says.
"My mum still works at the US Post Office and my dad works in a warehouse so I know one hour of their time is still equivalent to dollar value. I see what that is worth, regardless of how much income that I'm getting right now."
Gaining financial freedom is also what attracted 22-year-old Jowella Lim - a rare female trader - to the crypto world.
But as well as the opportunities to make money, Jowella enjoys being at the forefront of this new technology.
As governments around the world look to regulate the industry, she believes they will help legitimise crypto and NFTs.
"Regulators have to eventually compromise and realise that this is a tech they cannot ignore, especially when it's constantly penetrating this society," she adds.
Addiction or passion?
Aside from financial losses, another big danger is addiction.
"The crypto market never sleeps so people really literally get sucked into it," says Mr Chandran.
Andy Leach, from addictions clinic Visions by Promises in Singapore, says he has seen a jump in young - particularly male - clients getting addicted to the thrill of trading crypto and NFTs.
"You have the ability to watch Bitcoin going up and down and basically this process, this rollercoaster ride, the highs, the lows, it's available on your phone 24/7," he says.
Despite losing money in the crypto market in the past, both Paxton and Kelvin are back trading after studying it more closely.
I asked Kelvin if he thinks he may be addicted. "You can put it that way," he smiles. "But I would call it passion."
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Mongolia pledges all possible support to meet domestic food demand www.xinhuanet.com

Mongolia will provide domestic producers with all support possible to fully secure the domestic demand for food, President Ukhnaa Khurelsukh said Tuesday.
During a meeting with representatives of vegetable growers on the outskirts of the capital Ulan Bator, Khurelsukh pledged full assistance to them, saying that the government "will support the construction of refrigerated warehouses in all possible ways."
Mongolia imports about 40 percent of its annual vegetable demand, or about 70,000 tons, according to the presidential press office.
Recently, the president has proposed a "food supply and security" national campaign to develop agricultural clusters and establish food production complexes, so as to fully secure domestic supply for food and become a food exporter.
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Number of endangered Przewalski's horses in Mongolia exceeds 900 www.xinhuanet.com

The number of endangered Przewalski's horses in Mongolia has exceeded 900, the Ministry of Environment and Tourism said Wednesday.
"This year marks the 30th anniversary of Takhi (Mongolian name of Przewalski's horse) reintroduction to Mongolia. Today, the population of the wild horses in the country has already exceeded 900," the ministry said.
A program to reintroduce Przewalski's horses to Mongolia dates back to 1992 when 20 Przewalski's horses were brought to the Khustai National Park and the Greater Gobi Strictly Protected Area in Mongolia from zoos in Europe and Australia, according to the ministry.
Before the program was launched, the last record of the Przewalski's horse in the wild occurred in the late 1960s in southwestern Mongolia, and thereafter no more wild horses were observed, according to a report published by the magazine of the World Association of Zoos and Aquariums in 2012.
The Przewalski's horse is believed to be the last remaining wild horse species in the world.
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Mongolia's Apr coal output drops 53.10% YoY, iron ore down 18.46% www.sxcoal.com

Coal production of Mongolia came in at 1.33 million tonnes in April, down 53.10% year on year and 14.65% month on month, showed data from the National Statistical Office of Mongolia.
In January-April, Mongolia's total coal output was 6.50 million tonnes, dropping 57.30% on the year.
Mongolia's iron ore production was 1.07 million tonnes in April, down 18.46% year on year and 0.86% month on month. Iron sand fines stood at 814,800 tonnes, down 6.69% year on year and 3.02% month on month, while iron concentrate production was 254,600 tonnes, down 41.91% year on year but up 6.75% month on month.
Mongolia's iron ore production totaled 3.28 million tonnes during the first four months of 2022, down 5.90% year on year.
(Writing by Emma Yang Editing by Harry Huo)
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‘Princess Khutulun’ film to screen in Latin American countries www.montsame.mn

The Mongolian film ‘Princess Khutulun - In Search for the Golden Sutra’, co-produced by ‘Shuuder’ production and VOO broadcasting and media production company will be screened in countries in the Central and South American region.
The film will be released under the name, ‘Wrestler Princess’, in Spanish and Portuguese languages in Central American countries, such as Mexico, Honduras, Panama, and Nicaragua as well as certain countries in South America, including Bolivia, Brazil, Chile, Uruguay, Paraguay, and Suriname with exclusive rights, and in British Virgin Islands, Dominican Republic, Martinique, and Cuba non-exclusively.
It is the first time for a Mongolian film to be released throughout the Latin American region simultaneously.
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Mongolia required to improve investment climate in order to utilize mineral resources www.montsame.mn

According to a study carried out on making investments in the mining sector, 79 percent of the participants have answered that they are ready to invest in Mongolia due to its abundant mineral resources.
However, it was discovered that the country has yet to create the sufficient conditions for foreign investment as policy and institutional factors are weak. Furthermore, the study’s participants noted how there are certain factors that cause the most difficulties, such as the limited accessibility of geological information, slow court proceedings, availability of infrastructure, and human resources.
The study was commissioned by the European Bank for Reconstruction and Development in cooperation with the Ministry of Mining and Heavy Industry, and conducted by Adam Smith International.
The findings of the ‘Mongolian Mining Industry and Supply Chain – Investment Climate Benchmarking Study’ were presented during a workshop, ‘Foreign Direct Investment in Mining of Mongolia’, that took place on May 17.
Noting that it was a timely study, Deputy Minister of Mining and Heavy Industry O.Batnairamdal underlined its significance for pinpointing where the country’s mining sector ranks among other countries, and prioritizing the issues faced by investors and entities. He said, “The Law on Foreign Investment that was adopted by Mongolia in 1993 is currently being revised. As the prices of the main mineral products are high on the global market at the moment, it is possible for investments being made in the sector to similarly increase.”
In the last three decades, the mining sector has had a crucial role in Mongolia’s economy, making up 25 percent of the GDP and 70-75 percent of foreign investments.
Head of the European Bank for Reconstruction and Development (EBRD) in Mongolia Hannes Takacs noted the opportunity for Mongolia to attract foreign investment and grow its economy by using mineral resources, and highlighted that it is possible to increase the likelihood of investment by resolving issues related to matters such as taxes, special permissions, and licenses.
The workshop was also attended by mining sector experts, project team members, and representatives of companies and stakeholders.
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Appropriate mechanism needed for monitoring One Billion Trees national movement results www.montsame.mn

Today on May 17, Chief of Staff of the President’s Office Ya.Sodbaatar held a meeting with World Bank specialists led by the bank’s Regional Director for East Asia and Pacific Benoit Bosquet.
At the meeting, the sides exchanged views on expanding cooperation with the World Bank in the framework of the national movements, ‘One Billion Trees’ and ‘Food Supply and Safety’, initiated by the President of Mongolia.
Chief of Staff Ya.Sodbaatar expressed gratitude to the side of the World Bank for initiating consultative services and cooperating in developing the strategy and roadmap for the One Billion Trees national movement. During the meeting, they then held an extensive discussion on technical assistance, introduction of practices, and other types of support that could be provided by the World Bank in building the capacity of Mongolia’s forestry sector and developing agroforestry.
World Bank Regional Director for East Asia and Pacific Benoit Bosquet noted that the bank fully supports the objectives that have been set for the One Billion Trees national movement.
Underlining that the successful implementation of the One Billion Trees movement would increase the absorption of greenhouse gases in Mongolia alongside reducing its emission, the Regional Director highlighted the importance of introducing the appropriate mechanism for monitoring the results of the national movement.
He then informed that the objectives that have been set by the President of Mongolia for the issue concerning food supply and safety will be reflected in the projects and programmes being planned for the sector in Mongolia. The two sides agreed to focus on carrying out effective cooperative works and introducing a mechanism to assess its results, fully utilizing available resources and opportunities.
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