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    

Category

Events

Events

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

NEWS

64x64

Mongolia Economic Forum 2022 - International partnerships to deliver $49bn investment plan for Mongolia www.eureporter.co

Mongolia’s government has outlined the details of a sweeping economic roadmap for post-Covid revival. Dubbed the ‘New Recovery’ policy, the reform package combines both structural policy changes, such as partial privatisation of some state-owned enterprises, and major infrastructure initiatives, including the approval for a light rail transit system in the capital.
Luvsannamsrain Oyun-Erdene invited local businesses, foreign partners and international organisations to cooperate on a 150 trillion MNT ($49b) investment goal, that aims to double GDP by clearing hurdles in six priority areas: energy, border ports, industrialization, urban and rural recovery, green development, and public sector efficiency.
Approved by the Mongolian parliament in December, the policy comes atop the already-committed 10 trillion MNT ($3.3b) for financial aid, helping to keep over 64,400 businesses afloat and save 360,000 jobs.
Prime Minister Oyun-Erdene also highlighted the government’s push for higher transparency and accountability, as part of the ambition, to reduce institutional corruption and improve the overall business climate. The Prime Minister thus announced a plan for partial privatisation of some state-owned enterprises via follow-on public offerings of up to 34% equity on the Mongolian Stock Exchange as one of the mechanisms to infuse private
sector expertise and good governance best practices.
Discussions at the Forum also addressed immediate economic concerns. The Prime Minister revealed that the government has just introduced a bill outlining a price-capping mechanism to stabilise prices of meat, flour and petroleum to the Mongolian parliament, in response to record inflation.
In his closing remarks, Prime Minister Oyun-Erdene highlighted the Forum’s dual role as a place for consultation with the industry and also as a platform to generate growth that should be accessible and shared by every Mongolian, also extending appreciation to the Mongolian youth for their activism.
The Mongolian Economic Forum 2022 is the 9th time the event has been held at the Government Palace in Ulaanbaatar since its inception in 2010. The annual two-day forum was hosted by the Prime Minister of Mongolia and presents attendees with the opportunity to hear from the senior members of the
government, as well as interview opportunities with ministers responsible for key policy measures. Experts from diverse fields also undertake panel discussions about the future of the Mongolian economy.
...


64x64

ODIHR experts discuss electoral recommendations in Mongolia www. osce.org

From 5 to 8 April 2022 a team of election experts from the OSCE Office for Democratic Institutions and Human Rights (ODIHR) met with electoral stakeholders in Mongolia to present the final report of ODIHR’s Special Election Assessment Mission to the 9 June 2021 presidential election.
The report’s findings and recommendations were presented to representatives of the General Election Commission, the Ministry of Foreign Affairs, the State Audit Office, the Communications Regulatory Commission, the Administrative Court of Appeals, the Parliamentary Committee on State Structure, and other government ministries and agencies, as well as to representatives of civil society organizations and the international community.
“ODIHR encourages the government and other stakeholders to start working on electoral reforms well ahead of the next elections,” said Lolita Cigane, Head of ODIHR’s Special Election Assessment Mission to the 2021 presidential election. “We greatly value our co-operation with our Mongolian partners and are looking forward to holding discussions in the near future on how to further strengthen Mongolia’s electoral process.”
ODIHR reiterated that the elections were well-administered and competitive, with candidates able freely to convey their platforms to voters. However certain regulations, including those on the right to stand and on media coverage of the elections, are overly restrictive. ODIHR drew attention to its priority recommendations, such as allowing for independent candidates and nominations from non-parliamentary parties, as well as measures to improve the regulation of the campaign, campaign financing, and the media.
The authorities discussed ODIHR’s potential engagement in providing legal and technical expertise to assist in implementing these recommendations. This may include discussions or a legal review related to potential changes to the electoral system and amendments to the electoral legislation, and the potential contribution from ODIHR to exploratory discussions related to the implementation of electronic voting.
All OSCE participating States have committed to promptly follow up on ODIHR’s electoral assessments and recommendations.
...


64x64

Mongolia is open, transparent, and ready for business www.eureporter.co

Last week Ulaanbaatar hosted the 2022 ‘Mongolia Economic Forum,’ with hundreds of representatives from across the government, private sector and civil society coming together over two days to discuss the country’s pressing economic issues and the elements of the government’s ‘New Recovery’ Policy: Mongolia's plan for recovery and renewal through public-private partnerships.
"A very difficult crisis between Russia and Ukraine that began on Feb 24 has become one of the most pressing geopolitical challenges for the world. This is a blow to the economies of countries that have just begun recovering from the two-year pandemic and to the positive outlook of the world's banking and financial institutions on economic growth" Mongolian Prime Minister Luvsannamsrai Oyun-Erdene told the opening ceremony of the forum.
"Now, we are also facing the challenge of how to grow the Mongolian economy in these difficult times – but we are optimistic," Oyun-Erdene said, noting that Mongolia has already started working on the restart of the economy.
The Forum is organized in accordance with the country’s ‘New Recovery’ Policy framework - introduced to revive the country's economy post the COVID-19 pandemic, including comprehensive reforms in such fields as ports, energy, industry, green development and government productivity.
Nomin Chinbat is the Culture Minister for Mongolia and Chair of the Mongolia Economic Forum Working Group.
Speaking to EU Reporter, she said
“Mongolia is open for foreign direct investment and tourism, directly thanks to my country’s handling of the pandemic and the large uptake of vaccines across the country thanks to the government’s vaccination drive. Our economic future will be driven by the ‘New Recovery Policy’ which is the government’s plan for economic growth and prosperity.”
Fundamental to the growth of the economy was the action taken by the government on Covid. “It feels like we're once again living under normal conditions. As of a month ago almost all restrictions were lifted. Amongst those who would be classed as vulnerable, we have vaccinated 96% with one dose, 92% with two doses of vaccine, whilst 53% of those classed as vulnerable have had three vaccine doses. We have vaccinated around 70% of the overall population with one shot, 67% with two shots and over 32% with a third booster shot.
“Other countries started by vaccinating the vulnerable, but we actually approached it the other way around. Here, multiple generations of families live together, so we started with the people who actually go out a lot into society rather than those staying at home. In my opinion, that was the right move.
“During the pandemic, we focussed on the health of the nation first, rightly, and thereafter shifting our attention to both that of public health and the wider economy. We are now laser-focused on the wider economy and driving growth.
“This means not just holding an economic forum, but demonstrating that our lives can go back to normal, that we’re open for business for anyone to come to Mongolia, that our tourism sector is open, and that our businesses are back too.
“It’s been challenging but having said that we're back and have started to welcome tourists. We are formulating policies that can further bring tourists to the country.
“Just to name a couple, we have an open-air policy coming being brought forward as well as e-visas, where people can come to visit and obtain a visa at the border.
“We’re a small country with many different cultural backgrounds. We have a rich cultural heritage, which is something we are excited to show off as a result of our past. You have to remember that our nomadic culture and society were pretty much preserved as were up until thirty years ago.
“The economy changed to be more democratic, and tourism and business have opened up. As a result, we have managed to preserve our cultural heritage really well. We have a culture and nomadic lifestyle which is a bit different from what you may know, and so based on our nomadic history and background, our art and culture are very unique.
“Since I took over the position of Minister of Culture we have worked closely with a former advisor to UNESCO on our cultural creative industry development policy.
“And we've just recently finished with our White Paper and roadmap, so in that sense, we are working on creating alternative industry development opportunities.
“We've selected the 12 sectors in which to promote our creative industries, and from these, five sectors as our key sectors, including film, fine art, music, fashion and gaming, which is what our future generations are already interested in.
Our young people rarely watch TV anymore, they're interested in living their life online in the metaverse. So we've created our policy based on the resources that we have and what we believe the future will look like, and then, using our heritage, we’re putting together a credible offer to a global audience. We’re making integrated plans with a number of parties to make sure that through content, art, and through culture we promote our country and develop our creative industries sector.
“So, from our country’s perspective, we've established our long-term plan – our Vision 2050. Based on that we have narrowed it down to a more immediate strategy, namely the ‘New Recovery’ Policy.
“These look into the problems and constraints that could stop our economy from developing further. I think one specific message we want to communicate from the Economic Forum is that we're open for business, we're open to working together, and we are looking for investors.
“We want investors to come in, we have projects available, and our government is open, transparent, and ready for cooperation. “
...


64x64

Mongolia puts its first metal powder plant into operation www.xinhuanet.com

Mongolia has officially put into operation its first-ever metal powder plant here, the country's Ministry of Mining and Heavy Industry said on Monday.
The country's first export-oriented metallurgical plant called "Steppe Metal Powder" has an annual capacity of producing at least 3,000 tons of powders of copper, brass, bronze, tin and other metals, the ministry said in a statement.
"The commissioning of the innovation-based plant lays the foundation for raising the level of Mongolia's domestic metal processing and creating a value-added production network that can compete in the world market. We believe that the plant will contribute to the country's economic growth through the development of import substitution and export-oriented products," Gelen Yondon, minister of mining and heavy industry, said at the commissioning ceremony of the plant.
The powder metallurgy plant is expected to export its products to countries and regions in high demand for metal powders, such as China, South Korea, Japan, India and the European Union, according to the ministry.
...


64x64

Mongolia Jan-Mar iron ore exports up 15.2% MoM www.sxcoal.com

Mongolia exported 616,200 tonnes of iron ore in January-March 2022, tumbling 67.78% or 1.3 million tonnes year on year, showed latest data from the Mongolian Customs General Administration (MCGA).
The total export value slumped 75.91% on the year to $57.45 million during the first three months, data showed.
China was the only destination of Mongolian iron ore during the period.
coal,coal price,coke,China coal,coking coal,thermal coal
MCGA didn't release the specific figure for last month, yet Sxcoal calculated the exports at 307,300 tonnes based on the overall exports published by the customs authority, falling56.24% year on year but rising 15.2% on the month.
The iron ore exports amounted to $31.88 million in March, with average price at $103.74/t, down $26.41/t from a year ago but rising $18.97/t from a month earlier, data showed.
(Writing by Rebecca Liu Editing by Harry Huo)
...


64x64

“Mongolia needs to carry out budget and trade reforms” www.montsame.mn

Global Director of the World Bank Group's Macroeconomics, Trade and Investment Global Practice Marcello Estevao, who attended the ‘Mongolia Economic Forum-2022’ as an honorable guest, was interviewed about the current state of Mongolia’s economy and trade.
According to the report released by the World Bank, regional countries including Mongolia are able to overcome challenges through the budget and trade reforms. What reforms are necessary to be made?
-Budget and trade reforms are a must. However, it is difficult to solve this problem in Mongolia today. Although the pandemic situation is calming down, the country faces new difficulties caused by the Russia-Ukraine crisis. Furthermore, the continued border closure with China negatively affects the Mongolian economy. I hope that the situation will get better soon. Regardless of the situation, the reforms are required to be made.
-How to make the economy more accessible to society in the current situation?
A key to making the economy more accessible is to maintain the economic growth as much as possible. It is important to ensure economic growth continuously. Economic accessibility is connected to export and foreign trade. Making efforts for reviving the economy will minimize economic dependence on other external factors. Support should be provided only to target group of the society.
...


64x64

Largest land port on China-Mongolia border sees robust export growth www.news.mn

The freight transport export volume at the land port of Erenhot in north China’s Inner Mongolia Autonomous Region increased by 41.4 percent year on year to 642,000 tonnes in the first quarter of this year during which the port logged 734 China-Europe freight trains, up by 25.7 percent year on year, said Yun Zhijun, director, Erenhot station’s dispatch desk.
Fifty seven China-Europe freight train routes pass through the Erenhot port, the largest land port on the China-Mongolia border.
China has implemented a strict and extreme policy that includes strict lockdowns, mass testing and mandatory quarantine in state facilities. Mongolia is also suffering because of China’s COVID policy. Coal trucks hauled from Mongolia through Inner Mongolia’s Ganqimaodu border port have nose-dived after fresh COVID-19 cases were reported in the region. The number of daily coal trucks from Mongolia to Ganqimaodu fell below 100 on 7 December, 2021, down from 300 per day in the week ended 3 December.
...


64x64

TMK Energy intersects gassy coal in Mongolia www. naturalgasworld.com

Sydney-listed TMK Energy, formerly Tamaska Oil and Gas, has intersected 44 m of gassy coal in the upper coalbed in the first well, Snow Leopard – 1, of its maiden drilling programme within the Nariin Sukhait area of the Gurvantes XXXV CBM project in Mongolia.
Gas desorption measurements from the 36 individual desorption samples collected to date are ongoing, however, preliminary results indicate that the coalbed has high gas content and high gas saturation, the company said.
Following completion of Snow Leopard-1, a further three core holes spaced approximately 3.5 km apart are expected to be drilled and tested over the next three to four months. On completion of the drilling programme, the resulting data is expected to enable TMK to convert a portion of the independently certified 5.96 trillion ft3 gross prospective resources into a maiden contingent resource for the Nariin Sukhait area in 2H 2022.
The drilling programme is being funded by TMK’s joint venture partner Talon Energy under an existing $4.65mn two-stage farm-out agreement executed in February last year. Initial funding of $1.5mn is allocated to the current four-well drilling and testing programme. The second stage of funding, being $3.15mn, is currently budgeted towards the pilot well programme being planned for later this year, should the project move into the second stage of the farm-out, TMK said.
The Gurvantes project covers an area of 8,400 km2 and is situated around 20 km from the Chinese-Mongolian border and close to the northern China gas transmission and distribution network. TMK earlier this year completed the acquisition of Telmen Energy, which held a 100% interest in the Gurvantes XXXV project.
BY: SHARDUL SHARMA
...


64x64

Mongolia's population projected to reach 4 mln in 2033 www.xinhuanet.com

April 11 (Xinhua) -- Mongolia's population is expected to reach 4 million in 2033 and 5 million in 2048, the country's National Statistics Office (NSO) said Monday.
The updated projections for the population growth were based on the 2020 National Population and Housing Census, the NSO said in a statement.
Mongolia, with a land area of 1,564,116 square km and a population of about 3.4 million, is the most sparsely populated country in the world.
According to the NSO, the country's population reached 1 million in 1962, 2 million in 1988, and 3 million in 2015.
In addition, the median age of the Mongolian population was 27.9 at the end of 2020 and is expected to increase to 30.6 by 2050, it said.
In the Asian country, the average life expectancy is 70.8 years for women and 60.6 years for men, and the government aims to reduce the gap to five years by 2024, according to the country's health ministry.
...


64x64

Mongolia confirms 15 new COVID-19 infections www.akipress.com

Mongolia's health ministry confirmed 15 new COVID-19 infections on April 11.
8 new cases were recorded in Ulaanbaatar, 7 cases were detected in the regions.
No new related deaths were recorded in the past day, and the country's COVID-19 death toll remains at 2,108.
...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook