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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Events

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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’s economic growth expected to be 5.1 percent this year www.montsame.mn

According to the Bank of Mongolia’s forecast in December 2021, the Mongolian economy is expected to grow by 5.1 percent this year.
The central bank projected the economy to grow by 4.5 percent in 2021. However, the actual performance was 1.4 percent. It is explained that the unpredictable and sudden “shocks” in the internal and external environment have led to assumption’s deviation from the reality. For example, the scale and duration of China's policies have led to the export disruptions and the rise of transportation costs and inflation.
Spread of the pandemic and the emergence of new variants are still posing challenges.
Although supply-side inflation is on the rise, the central bank emphasizes that inflation is likely to be driven by demand by the end of the year as the economy recovers from the pandemic. Therefore, in January, the decision was made to increase the policy rate by 0.5 percentage points, said Governor of the Bank of Mongolia B.Lhagvasuren.
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Iron ore price rises as Russia-Ukraine conflict stokes supply concerns www.mining.com

Iron ore prices climbed on Monday over concerns that a prolonged armed conflict between Russia and Ukraine could curb global supply.
The most-traded May iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 2.7% higher at 705.50 yuan ($111.82) a tonne.
On the Singapore Exchange, iron ore’s most-active April contract rose as much as 3.3% to $141.25 a tonne.
According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $138.09 a tonne during morning trading, up 2.6% compared to Friday’s closing.
iron ore price
“Any prolonged military campaign will severely impact annual iron ore exports totaling almost 70 million tonnes from Russia and Ukraine, eventually tightening the global balance,” said Atilla Widnell, managing director at Navigate Commodities in Singapore.
While Russia and Ukraine are not major suppliers of iron ore to China, the two countries now at war usually export the steelmaking ingredient to other European countries.
Russia’s top steelmakers have seen exports drop since the incursion began, while nickel shipments have also been affected, people with knowledge of the matter told Bloomberg.
Russia’s metal shipments are falling and buyers are “hesitant in the context of sanction uncertainty and escalation,” Goldman Sachs analysts said in a note.
Ukrainian iron-ore miner Ferrexpo Plc said on Friday the availability of rail capacity to ship its pellets to customers in Europe was unclear. The London-listed company, which operates three mines in central Ukraine, said it’s delaying the publication of its full-year results.
As this month’s Beijing Winter Olympics has ended, rebounding Chinese blast furnace capacity utilization rates, which should result in the quicker drawdown of iron ore inventories at Chinese ports, are also expected to offer further price support, Widnell said.
Support for iron ore remained intact even as China’s state planner kept a close eye on market activities following the recent strong price rally.
The National Development and Reform Commission, which has warned against iron ore hoarding, market speculation and disinformation, on Monday reminded traders of regulators’ increased supervision of both spot and futures markets to ensure stable prices.
(With files from Reuters and Bloomberg)
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Agreement signed for launching engineering exploration works for natural gas pipeline project www.montsame.mn

On February 28, Deputy Prime Minister S.Amarsaikhan and Chairman of the Management Committee of Gazprom Company Alexey Miller signed an agreement on launching blueprint development and engineering exploration works for the construction project on the natural gas pipeline connecting Russia and China through the territory of Mongolia.
According to the agreement, certain works such as issuing employment permissions and exempting Russian subcontractors from workplace payments will be carried out in April, while corresponding bills and draft resolutions will be completed by early 2023.
‘Gazoprovod Soyuz Vostok’ LLC and ‘Erdenes Mongol’ LLC will be in charge of jointly carrying out engineering-geodesy, engineering-ecology, and archeological exploration works, which will be completed by November 30, 2022. As for the matter concerning the issuance of land for facilities for the natural gas pipeline, the Government of Mongolia is expected to have it resolved by December this year.
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Mongolia reports 305 new cases of COVID-19 www.akipress.com

Mongolia reported 305 new cases of COVID-19 infection, including 139 in the capital and 166 in regions, the country's Ministry of Health reports on Mar 1.
The total number of cases has increased to 465 thousand 576.
648 hospitalized patients are in mild condition, 1,536 are in moderate condition, 204 are in serious condition, and 31 are in extremely serious condition.
2 deaths linked to coronavirus were recorded per day raising the death toll to 2,098.
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Mongolia goes ahead with Soyuz/Vostok pipeline signing with Russia despite Ukraine outcry www.intellinews.com

A project plan for the Soyuz/Vostok gas pipeline that is to run from Russia to China via Mongolia was on February 28 signed by Amarsaikhan Sainbuyan, the Mongolian Deputy Prime Minister, and Alexey Miller, chairman of the Gazprom board, during an online meeting.
The signing might attract some controversy given ongoing attempts by multiple countries to force Russia into an economic corner with sanctions and boycotts in response to the Russian invasion of Ukraine. Germany, for instance, has frozen the Nord Stream 2 pipeline project to deliver Russian gas to Europe.
In late January, Mongolia and Gazprom signed a protocol to complete a feasibility study for the Soyuz/Vostok gas pipeline.
The project plan covers an agreement for the next stage of the project, including design, engineering exploration work and the licensing of Russian subcontractors.
"Today, we ratify our work plan for the next three years, beginning in 2022," Miller during the signing. “I am glad to inform you that my deputy has worked extremely hard with you to get this proposal approved. Our joint working group is also doing a good job. If we keep working in this manner, the effort will be effective."
"An experienced business working on the Siberian Power-1 and 2 projects will perform engineering-geodesy, engineering-ecology and archaeology exploration of the natural gas pipeline project," Amarsaikhan told reporters. "Many researchers will come to our country to work. As the contract was signed today, the research will begin in March and will continue as planned."
There were no remarks from the deputy PM on Russia's aggression towards Ukraine.
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China's devt to benefit world www.manilatimes.net

China's development will benefit its neighbors as well as the whole world, Mongolian Foreign Minister Batmunkh Battsetseg told Xinhua in a recent interview.
"Today, China is developing rapidly, the livelihood of its people is improving day by day," said Battsetseg. "As a neighboring country, Mongolia has always applauded the achievements of the Chinese people."
"I am confident that China's development will benefit its neighbors, regional countries and the world," she said.
The Chinese government has made a significant contribution to overcoming the most difficult time of the Covid-19 pandemic in Mongolia by providing much-needed vaccines, drugs and medical supplies, said Battsetseg.
"It is important that our two peoples sincerely support each other in this difficult time," she said. "The young people of the two countries have exchanged words of encouragement on social media, which is an important expression of mutual understanding between the two peoples."
The foreign minister also spoke highly of China's dynamic zero-Covid policy, which "has been a major factor in reducing the spread of the coronavirus around the world."
Praising the good organization of the Beijing Winter Olympics, she said that as a neighbor with a comprehensive strategic partnership, Mongolia has consistently supported any efforts by China to successfully host the Games.
Mongolian Prime Minister Luvsannamsrai Oyun-Erdene became one of the first foreign leaders to express willingness to attend the opening ceremony of the Beijing Winter Olympic Games in person, Battsetseg said, adding that the prime minister has clearly said that the Olympic Games — a symbol of the unity of humanity and peace — should not be politicized in any way.
The Chinese government — with the warm support of its people — has successfully hosted the Winter Olympics, giving hope and encouragement to the world as it fights the pandemic, Battsetseg said.
"I am impressed by the solution to provide solar and wind energy for the infrastructure of the Olympic Villages. The combination of renewable energy and green technology in the use of the latest scientific and technological advances is unique," she said.
During his visit to China to attend the opening ceremony of the Beijing Winter Olympics, Prime Minister Oyun-Erdene and Chinese leaders exchanged views on a wide range of issues, Battsetseg said.
She added that the two governments issued a joint statement to strengthen bilateral cooperation, including intensifying development projects and programs and strengthening cooperation in trade, investment, finance, energy, telecommunications, infrastructure and green development after the pandemic.
Oyun-Erdene's visit to China has been important in strengthening high-level mutual understanding on bilateral relations and cooperation, bringing cooperation to a new level, and advancing major trade and economic projects, the foreign minister noted.
The two countries should make full use of the mechanisms of bilateral cooperation and enhance their coordination between the relevant organizations in order to promptly implement the issues agreed during the visit and advance major joint projects and infrastructure construction.
Mongolia will establish a working group consisting of representatives of the parties involved to promote the coordination with China, said Battsetseg.
In order to normalize the operation of the border checkpoints, the Mongolian side also plans to improve its organizational work and anti-pandemic measures, she said.
Despite the difficult circumstances caused by the pandemic, Mongolia and China still worked closely together to promote bilateral trade and economic cooperation, said Battsetseg.
Meanwhile, in addition to strengthening bilateral cooperation in traditional sectors, such as trade, economy, culture and humanitarian ties, Mongolia and China need to work together to protect the environment, especially in the fight against desertification.
Climate change is one of the most pressing issues in the world and there is great potential to intensify bilateral cooperation in combating desertification and yellow dust storms, she said, adding that leaders of the two countries have paid special attention to this issue and regularly exchanged views during their talks.
Battsetseg expressed confidence that after the pandemic, the two sides will make joint efforts to intensify bilateral cooperation in all fields, focus on the implementation of the consensus of the two countries' leaders and support each other.
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China-Mongolia border port sees growth in freight transport www.xinhuanet.com

HOHHOT, Feb. 28 (Xinhua) -- Erenhot, the largest land port on the China-Mongolia border, has seen a significant rise in China-Europe freight trains so far this year, according to the local railway authorities.
Since Jan. 1, the port has handled a total of 503 China-Europe freight trains, up 27.9 percent from the same period last year.
The 500th China-Europe freight train this year passed through the port at 1 p.m. Monday, a milestone that took 18 fewer days to accomplish than last year.
The number of inbound trains totaled 232, up 33.3 percent, while the number outbound trains reached 271, a rise of 23.6 percent.
The port in north China's Inner Mongolia Autonomous Region now serves 54 China-Europe freight-train routes, connecting over 60 overseas destinations across more than 10 countries.
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Schools, firms in Japan preparing for eased entry restrictions on foreigners www.nhk.or.jp

Schools and firms in Japan are preparing to receive people from abroad before the country eases its coronavirus entry restrictions on Tuesday.
Japan has banned the new entry of foreigners in principle to prevent the spread of the Omicron variant.
The government plans to raise the daily limit of people allowed to enter the country to 5,000 from the current 3,500.
Japanese authorities on Friday started accepting online applications from colleges, firms and other entities for entry visas for foreigners they plan to accept.
Staff at a Japanese language school in Tokyo tried to follow the online procedures, but had difficulty registering the necessary data at one point because the website was overloaded.
The school says 731 of its foreign students have been unable to come to Japan, and the longest wait is about two years. It says the students have been forced to attend classes online and some of them have to do so late at night due to time differences.
A 23-year-old Chinese student who has been waiting for six months to enter Japan says she wants to come to the country as soon as possible because she feels less motivated to study when she stays at home by herself.
An official of the school says it's important to experience culture and mingle with people to learn languages. He says his school wants to welcome students with careful preparations.
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Mongolia’s first electric car presented to National Olympic Committee www.montsame.mn

A ceremony to introduce Mongolian-made electric and solar-powered cars was held last Saturday, February 26.
Three years ago, Bars Motors first introduced its project of ‘MOZO’ car, which has been successfully tested in the harsh weather conditions of Mongolia. This time, the company has introduced a new electric car called ‘HERO’.
As part of its social responsibility, Bars Motors presented a key of the first electric car with the identification number ‘0001’ to the Mongolian National Olympic Committee.
Flag-bearer of the national team at the Beijing 2022 Winter Olympic Games, skier B.Achbadrakh drove the Mongolian-made car onto the stage, introducing it to the public.
The ‘four-seater’ electric car can attain a speed of 100 km/h, and go up to 300 km on a single charge. In addition, it takes 8-9 hours to fully charge using a 220V plug at home.
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Activities of Dairy Asia to be expanded www.montsame.mn

The Ministry of Food, Agriculture and Light Industry has announced that it is expanding the activities of the Dairy Asia Secretariat Office, which was established in Ulaanbaatar in 2020 in cooperation with the Government of Mongolia and the Food and Agriculture Organization of the United Nations (FAO).
At its meeting dated February 23, the Cabinet approved a resolution to expand the activities of the Secretariat Office. With the approval of the resolution, it is considered that the conditions and opportunities have been created to invite other Asian countries for cooperation, increase membership, strengthen the Secretariat, support its activities and develop it sustainably based on Mongolia’s multilateral foreign policy.
Dairy Asia is a multi-stakeholder partnership committed to building a socially and environmentally responsible Asian dairy sector that enhances rural livelihoods, improves nutrition, and contributes to economic prosperity in the region. It was founded by FAO in 2014 and currently has 13 member countries including Mongolia, Thailand, China, Sri Lanka, Bhutan, Bangladesh, Indonesia, Afghanistan, Philippines, India, Myanmar, Nepal, and Vietnam.
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