Business owners and investors submit proposals for tax reform bill www.gogo.mn

The Economic Development Council held a meeting on August 12 to discuss Mongolia’s upcoming tax reform bill. The Council, which works to coordinate economic policy and foster public-private cooperation, heard updates from Minister of Finance B.Javkhlan on the nationwide consultation process.
A total of 176,000 proposals were received from 13,000 participants, including citizens, businesses, the Mongolian Chamber of Commerce and Industry, the Mongolian Business Council, tax consultants, and professional associations. More than half of these proposals have been incorporated into the draft bill, in line with the principle of maintaining economic stability.
The Council itself submitted 21 sets of proposals on tax cuts, improving law enforcement, and combating tax evasion, with an estimated budget impact of MNT 1.8 trillion. 60% of these were included in the draft. B.Telmuun, Head of Tax Policy at the Ministry of Finance, detailed which proposals were accepted and which were not. 
G.Zandanshatar, Prime Minister of Mongolia, instructed the Ministry of Finance to prioritize measures that support wealth creators, producers, and employers, including gradually increasing VAT refunds and eliminating systems that disadvantage compliant taxpayers. He stressed the need for predictable policy discussions to avoid surprises for investors and business owners, noting that the Council should serve as a genuine platform for public-private consultation.
The Prime Minister also suggested drafting “Law on freedom of business operation” to safeguard and encourage private enterprise.
The government plans for the 2026 budget to focus on human development and education. Public consultations are ongoing, with over 167,000 citizens participating so far. Officials believe a transparent budget process will reduce corruption, cut bureaucracy, and boost public trust. A legislative package is also being prepared to strengthen tax reform, promote exports, improve customs procedures, and support the private sector.

45,000 households to receive gas detectors under 2026 budget www.gogo.mn

Currently, gas detectors in 84,829 households in Ulaanbaatar are functioning normally. An additional 61,031 detectors are scheduled to be distributed before the upcoming fire season, according to B.Battulga, head of the “Fuel Consumer Service Center” of the Locally Owned Agency for Commercial and Industrial Services. 
With these distributions, 145,860 households will have gas detectors in 2025. However, the remaining 45,000 households are slated to receive detectors under the 2026 budget.
S.Davaasuren, Head of the National Committee for Air Pollution Reduction, emphasized the urgency of the issue, “The firing season will start soon. One of the most important measures to prevent carbon monoxide poisoning is ensuring households have this device. We should not wait for the next fiscal year to equip the remaining 45,000 households. And the capital city authorities should address the shortfall and ensure all households are equipped with carbon monoxide detectors before the firing season begins".

Tax Reform Proposal by Domestic Manufacturers to Be Reviewed www.montsame.mn

Mongolia and ADB discuss emergency response projects www.akipress.com

Deputy Prime Minister of Mongolia Amarsaikhan Sainbuyan held an official meeting with Asian Development Bank (ADB) Country Director for Mongolia Shannon Cowling on August 13, Montsame reported.
During the meeting, the two sides exchanged views on the current state of bilateral cooperation, the progress and outcomes of ongoing projects and programs, as well as future cooperation priorities and planned activities.
The parties discussed improving the disaster protection system, including upgrading the National Emergency Management Agency's early warning system and addressing financing for essential machinery and equipment.
To reduce disaster risks and strengthen local capacity for rapid response, the government plans to align NEMA's structure and organization with the Regional Development Policy and to establish, in stages, units with air search-and-rescue and firefighting functions.
The Deputy Prime Minister highlighted that more than 280 of Mongolia's 330 districts currently lack search-and-rescue units, increasing disaster risks. He emphasized the need to establish fully staffed and equipped units that meet national standards in every district.
As a result of the project, local emergency units will be equipped with specialized rescue units capable of water rescues, high-rise firefighting, and operations in hard-to-reach areas, supported by advanced technical equipment. This will contribute to creating a nationwide disaster-resilient system—a critical step toward strengthening Mongolia's capacity to withstand emergencies.
The Deputy Prime Minister noted that building a disaster-resilient nation and implementing regional development in practice are priorities stated in the government's "Vision-2050" long-term development policy of Mongolia and its 2024–2028 Action Program. The Deputy Prime Minister underscored the great strategic importance of the Asian Development Bank's support and cooperation in achieving these objectives.
Mongolia remains committed to consistently implementing projects and programs to reduce disaster risks, enhance the capacity of local organizations, establish standardized systems, and promote sustainable socio-economic development, the Deputy Prime Minister Amarsaikhan added.

Asian Battery Metals secures strategic copper-gold project and expands exploration footprint in Mongolia www.proactiveinvestors.com.au

Asian Battery Metals PLC (ASX:AZ9) has signed a binding agreement with Best Resources LLC for an exclusive option to acquire the Maikhan Uul copper-gold project, located just 8 kilometres from its flagship Oval copper-nickel-platinum group element (Cu-Ni-PGE) discovery in southwestern Mongolia. 
The project holds a mining licence valid until 2045 and contains near-surface volcanogenic massive sulphide (VMS) style copper-gold mineralisation. Not only does this agreement expand AZ9’s project area, it also gives the company the potential to extend the resource beyond the current 215-metre drilling depth.
Maikhan Uul, Yambat and Bayan Sair location.
In addition, Asian Battery Metals has been granted a new 3,327-hectare mineral exploration tenement south of its Yambat Project. The Bayan Sair tenement covers part of a regional magnetic high interpreted as a possible extension of the MS1 and Oval intrusive zones, with initial geophysics planned later in 2025.
“The Maikhan Uul Cu-Au Project is a natural extension of our regional copper-focused exploration strategy and is strongly synergistic with our existing Oval Cu-Ni discovery within the Yambat Project, both geographically and operationally. With shallow VMS-style mineralisation, a long-standing mining license, and close proximity to existing infrastructure, this project gives us exciting near-term optionality as we build a critical mass around our core asset in Mongolia,” AZ9 MD Gan-Ochir Zunduisuren said.
“We are also pleased to secure a new tenement covering the south side of the current tenement, an important step to increase our regional footprint. This award by the government is a credit to our team and our recent successes.”
Maikhan Uul project overview
The Maikhan Uul project lies 300 kilometres from the Chinese border in Govi-Altai aimag. Historical drilling has defined multiple mineralised zones up to 12 metres thick, open at depth, within altered rhyolite porphyry units. 
A 2015 foreign resource estimate under the Mongolian classification system outlined 5.03 million tonnes grading 0.58% copper and 0.16 g/t gold (non-JORC compliant). 
The project benefits from nearby infrastructure and high-voltage power access. Asian Battery Metals will undertake a staged six-month due diligence program, including electromagnetic surveys, 200–300 metres of confirmation drilling, and an independent review to assess JORC 2012 compliance.
Binding option agreement terms
Under the binding exclusive right agreement, Asian Battery Metals has paid US$50,000 for the six-month due diligence option. If successful, the company will acquire either the mining licence or 100% of Best Resources’ shares for US$890,000, payable within 10 business days of transfer. 
This transaction forms part of the company’s strategy to consolidate a critical minerals hub in Mongolia, complementing the Oval discovery and other regional assets.
Due diligence will include: 
Deployment of SAMSON EM to identify potential conductors prior to confirmation drilling.
Undertake approximately 200-300 metres of confirmation drilling in the higher-grade resource areas. Drilling is currently scheduled to commence in Q3 2025.
CP evaluation of the data supporting the Resource, estimation method and classification into the JORC system or otherwise, formulation of further work programs to allow future classification as a JORC Resource.
Independent legal review.
Bayan Sair exploration licence
The Bayan Sair tenement, secured through government tender, lies immediately south of the Yambat Project and is largely covered by Quaternary sediments. 
Bayan Sair and Yambat tenement on Reduction to the Pole (RTP) map and Bayan Sair and Yambat tenement on satellite map.
A strong magnetic high in the eastern section, located around 4 kilometres from the MS1 intrusion, highlights its potential. No known mineral occurrences have been recorded to date, but its proximity to mineralised mafic intrusions makes it a priority target. Planned work includes induced polarisation surveys to identify possible mineralised zones before follow-up drilling.
By Jonathan Jackson

Mongolia, Russia and China could soon hold talks on Power of Siberia 2 gas pipeline project www.interfax.com

Mongolia and China have discussed the possibility of organizing a trilateral meeting with Russia in the near future on the gas pipeline project from Russia to China through Mongolia, Mongolian media reported.
The discussion took place during a meeting between Chinese Ambassador to Mongolia Shen Minjuan and Mongolian Deputy Prime Minister Sainbuyan Amarsaikhan.
"Shen Minjuan agreed that it would be expedient for representatives of the three countries responsible for the gas pipeline project to meet in person to discuss it," one of the publications reported.
The 950-km pipeline would cross Mongolia from north to south through six provinces.
This is the Soyuz Vostok project, a continuation of the planned Power of Siberia 2 trunk pipeline that will connect hydrocarbon fields in West Siberia with the Xinjian Uighur Autonomous Region of northwest China, from where it will be sent to Shanghai. Planned supplies are up to 50 billion cubic meters per year.
The project's timing depends on a contract being signed by Gazprom and China's CNPC, with talks ongoing.

Minister of Digital Development of Mongolia and US Ambassador discuss cooperation in cybersecurity www.akipress.com

Minister of Digital Development, Innovation, and Communications of Mongolia Batshugar Enkhbayar met with U.S. Ambassador to Mongolia Richard Buangan on August 13.
During the meeting, Minister Enkhbayar expressed his desire to introduce international payment tools like Google Pay and PayPal in Mongolia. He also proposed continued cooperation to strengthen trainin of cybersecurity personnel and learn from the U.S. best practices in supporting startups.
Ambassador Buangan affirmed the U.S. commitment to further cooperation in cybersecurity, remote sensing, space exploration, and information technology. He also committed to enhancing the skills of Mongolian cybersecurity specialists.
The two sides also discussed research and collaboration in new advanced technologies for communication, information technology, and cybersecurity, with a focus on involving universities and research institutions.

Average new house prices in Mongolia's capital up 13.4 pct in July www.xinhuanet.com

The average price per square meter of newly constructed apartments in Mongolia's capital amounted to 4.7 million Mongolian Tugriks (about 1,308 U.S. dollars) at the end of July, up 13.4 percent year on year, government data showed Thursday.
Meanwhile, the average price per square meter for second-hand apartments in Ulan Bator was 4.5 million Mongolian Tugriks (about 1,252 U.S. dollars) in July, reflecting a 15 percent rise from the same period last year, the country's National Statistics Office said.
According to experts, this significant increase is largely related to an increase in per capita 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 the capital city, home to over half of the country's population of 3.5 million. More than half of Ulan Bator's residents live in the city's ger districts, with no running water, central heating, or sewerage systems.

Mongolia’s Trade Surplus Narrows in July www.tradingview.com

Mongolia’s trade surplus narrowed to USD 215.7 million in July 2025 from USD 345.6 million in the same month of the previous year, as exports fell much faster than imports.
Exports declined by 15.1% year-on-year to USD 1,171 million while imports fell at a softer 7.6% to USD 955 million.
For the January-July period, the trade surplus shrank to USD 1,270.8 million from USD 2,856.7 million a year earlier.
Exports declined by 16.4% from a year earlier to USD 9,268.6 million from USD 7,751.5 million, driven by sales of coal, washed cashmere, crude petroleum oils, sheep and goat meat, and iron ores and concentrates.
China remained Mongolia’s largest export market, accounting for 91.9% outbound shipments.
Meanwhile, imports rose by 1.1% to USD 6,480.8, mainly due to higher purchases of passenger cars, spare parts for vehicles, and alcoholic beverages.
Among trading partners, China accounted for the largest share of imports (38.7%), followed by Russia (23.6%), and Japan (12.3%).

Mongolian Cashmere Export Data 2025: Mongolia Exports of Cashmere Wool www.tradeimex.in

In recent years, Mongolia's cashmere industry has been flourishing, with a significant increase in the export of cashmere wool to various countries around the world. With the demand for high-quality cashmere products on the rise, Mongolia has become a key player in the global cashmere export market. According to the Mongolia export data and Mongolia customs data, the total value of Mongolian cashmere exports reached $70.56 million in 2024, a major decline of 28% from the previous year. As per the Mongolia cashmere export data for 2025, the total value of Mongolia’s cashmere exports accounted for over $8 million in the first quarter of 2025.
Mongolia produces some of the world’s finest cashmere, an industry prized as "white gold." Mongolia is the 6th largest cashmere exporter in the world, as per the global trade data. As the second-largest producer globally, just behind China, Mongolian cashmere is both a cultural heritage and economic lifeline for nomadic communities, as per Mongolia’s cashmere production. But the industry sits at a crossroads in 2024–25, with climate shocks, policy pivots, and bold ambitions reshaping its trajectory. This blog uncovers export volumes, value trends, shocks hitting supply, industrial responses, and future forecasts for Mongolian cashmere export data in 2024-25. Let’s break it all down by the numbers.
Overview of Mongolia's Cashmere Industry
Mongolia is known for producing some of the finest cashmere wool in the world, and Cashmere is among Mongolia’s major exports. The country's harsh climate and rugged terrain have created the perfect conditions for raising cashmere goats, whose fine, soft undercoat is harvested to produce luxurious cashmere yarn. The cashmere industry plays a crucial role in Mongolia's economy, providing employment opportunities for thousands of herders and contributing to the country's GDP. Mongolia's cashmere exports have been steadily increasing over the years, with a growing demand for Mongolian cashmere in international markets.
Detailed Insights into the Exports of Mongolian Cashmere
Diminished Exports in Q1 2024: The Mongolian Customs General Administration reports that the country's combed cashmere exports fell by 55% in the first quarter of 2024 as compared to the same time in 2023.
Volume and Value of Exports: Mongolia exported 72.3 tons of combed cashmere worth 8.5 million USD in the first quarter of 2024.
Government Initiatives: To increase cashmere processing capacity, the Mongolian government has allocated 198 billion tugriks (57.5 million USD) as part of the "White Gold" campaign.
Future Objectives: By 2028, the domestic cashmere market is expected to have 40% deep processing and 100% primary processing.
Economic Importance: Trailing only behind gold and copper in terms of exports, cashmere is a vital source of income for many Mongolians and a substantial contributor to the nation's GDP.
Global Market: According to the World Bank, Mongolia is the second-biggest producer of raw cashmere, with a market share that has been steadily rising to 40%.
Sustainable Practices: With an emphasis on community development, environmental preservation, and animal care, programs such as the "Good Cashmere Standard" are encouraging ecological cashmere production in Mongolia and elsewhere.
Mongolia’s Cashmere Exports by Country in 2024
Overview and Key Highlights
Italy is the dominant market, taking around 80% of all combed cashmere exported from Mongolia in 2024. 
China remains the leading importer of washed goat cashmere, accounting for 99.0% of those exports. 
In 2024, Mongolia exported wool, animal hair, horsehair yarn, and fabric (which includes raw and semi-processed cashmere) to China worth USD 164.82 million. 
Italy imported USD 56.20 million worth of wool and related textiles from Mongolia in 2024.  
Top 10 Mongolian Cashmere Export Destinations: Mongolia Cashmere Exports by Country
Mongolia's cashmere industry has witnessed significant growth in recent years, with the country emerging as a key player in the global market. The top 10 Mongolian cashmere export destinations include countries such as China, Italy, the United States, Germany, Japan, and South Korea, as per Mongolia customs data. Mongolia's high-quality cashmere products have garnered international acclaim, attracting buyers from around the world. The top 10 export destinations for Mongolian cashmere, as per Mongolia cashmere exports by country and Mongolia shipment data for 2024-25, include: 
1. Italy: $54.158 million (76.8%)
Italy stands out as the biggest export destination for Mongolian cashmere exports, accounting for a whopping 76.8% of the total cashmere exported, as per the data on Italy cashmere imports from Mongolia. Italian consumers appreciate the superior quality of Mongolian cashmere and are willing to pay a premium for it.
2. France: $6.78 million
France is another significant market for Mongolia's cashmere, with exports totaling $6.78 million. French fashion houses and luxury brands often source their cashmere from Mongolia due to its reputation for producing some of the finest cashmere in the world.
3. China: $6.50 million
Despite being a major producer of cashmere itself, China also imports cashmere from Mongolia. Chinese consumers value the softness and warmth of Mongolian cashmere, making it a popular choice in the Chinese market.
4. South Korea: $1.53 million
South Korea is an emerging market for Mongolian cashmere, with exports reaching $1.53 million in 2024-25. The demand for luxury cashmere products in South Korea has been on the rise, further fueling the growth of Mongolian cashmere exports to the country.
5. United Kingdom: $720K
The United Kingdom is also a significant importer of Mongolian cashmere, with exports totaling $720K. British consumers appreciate the quality and craftsmanship of Mongolian cashmere, making it a sought-after luxury item in the UK market.
6. Nepal: $355K
Nepal may be a smaller market compared to some of the other countries on this list, but it still plays a role in the demand for Mongolian cashmere. With exports amounting to $355K, Nepal demonstrates a growing interest in high-quality cashmere products from Mongolia.
7. Germany: $312K
Germany is another European country that imports Mongolian cashmere, with exports totaling $312K. German consumers value the sustainability and ethical practices of Mongolian cashmere producers, making it a popular choice in the German market.
8. India: $168K
India may be better known for its textile industry, but it also imports Mongolian cashmere. With exports of $168K, India demonstrates a growing interest in luxury cashmere products from Mongolia.
9. Japan: $16K
Japan, known for its appreciation of high-quality fabrics, is a growing market for Mongolian cashmere. Despite relatively lower exports of $16K, Japan's demand for Mongolian cashmere is on the rise.
10. USA: $8K
Rounding out the top 10 list is the USA, with exports of Mongolian cashmere totaling $8K. While the US may not be among the largest importers of Mongolian cashmere, there is a niche market for luxury cashmere products in the country.
See more on the link https://www.tradeimex.in/blogs/mongolia-cashmere-export-data-2025