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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Harvest running at 74 percent www.montsame.mn

According to the Ministry of Food, Agriculture and Light Industry, 439 thousand tons of grains have been harvested from 297.5 thousand hectares nationwide as of last week.
Currently, the harvest of grain is at 74 percent, potato -- 84.2 percent, vegetables -- 92.5 percent, fodder plants -- 53 percent, and oil plants -- 45.3 percent.
A total of 11,433 people (1,797 servicemen, 1,884 students, and 7,752 welfare and contract workers) are working for the harvest on temporary contracts.
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UB to implement electric public transport project with support of EBRD www.news.mn

The EBRD began its operations in Mongolia with the sponsoring of banks and other financial entities—such as XacBank, Khanbank and Transcapital—that became involved in its Trade Facilitation Programme. By now, the EBRD has a presence in many sectors of the country’s economy. To date, around 190,000 loans, totaling more than $535mn, have been made available by the lender to Mongolian micro and small firms. In all, the EBRD has invested a total of $2.1bn in Mongolia during the 15 years.
For the foreseeable future, the EBRD’s goal in the country of 3.4mn (nominal GDP around $14bn) is to invest more in infrastructure and projects to deliver a greener economy.
Since 2017, Mongolian agribusiness companies have benefited from the bank’s initiatives to boost non-extractive industries. Companies that have been backed by the initiative include juice manufacturer Vitafit, beverage producers APU and MCS, food producer Teso Group and the country’s biggest dairy company, Suu Milk. In 2021, Suu Milk, Mongolia’s first milk and dairy product producer, received a $4.8mn loan from XacBank with the aid of the EBRD. The loan will be used to upgrade the transport fleet of Suu Milk and serve over 2,500 nomadic herders.
EBRD Green Cities is a programme designed to address urgent ecological and infrastructure challenges. Under the strategic Green City Action Plan (GCAP), the EBRD and the municipality started developing priority investment projects. In 2018, the EBRD provided a loan of $9.7mn to improve Ulaanbaatar’s waste management and in 2020 gave a loan of $10mn to Ulaanbaatar District Heating Company to rehabilitate existing utility networks and expand new district heating mains.
Presently, the bank and Ulaanbaatar are discussing a new project under GCAP. The EBRD may finance the construction of more than 700 low-carbon and climate-resilient housing units and related infrastructure. It is expected that new housing will be offered to low-income groups of residents from the ger area (yurt district), who have no access to modern utilities, on rent and rent-to-own terms.
Just recently, on October 20, EBRD managing director for Central Asia Zsuzsanna Hargitai met with Mayor of Ulaanbaatar D.Sumiyabazar. They discussed new municipal projects such as green affordable housing and electric public transport, which are suitable for EBRD support.
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Mongolian export to China declined by 39 percent www.news.mn

China’s coking coal imports slowed in September from August on limited Mongolian supplies, but non-Australian seaborne imports remained above 2020 levels led by record US arrivals.
China imported 4.35 million tonnes of coking coal in September, down by 35pc from a year earlier and down by 7 percent from August, according to Chinese customs data.
Mongolian imports declined by 39 percent to 659,094 tonnes in September on the month, after more than doubling in August. Truck crossings at the Gashuunsukhait-Ganqimaodu border halted for over a week in late August as new Covid cases surged in Mongolia. The number of trucks passing the border remained limited even after customs clearance resumed on 31 August as strict Covid measures slowed traffic throughout the month.
Russian imports in September nearly doubled from a year earlier to 926,957t. Chinese mills picked up Russian supplies, particularly pulverised coal injection, given limited spot availability from railway logistical disruptions.
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Russian Deputy PM A.L.Overchuk pays courtesy call on Prime Minister L.Oyun-Erdene www.montsame.mn

On October 22, Deputy Prime Minister of the Russian Federation A.L. Overchuk paid a courtesy call on Prime Minister of Mongolia L.Oyun-Erdene in the framework of his visit.
Prime Minister L.Oyun-Erdene thanked the Russian Deputy PM for his visit on the threshold of the 100th anniversary of the establishment of diplomatic relations between Mongolia and Russia.
In turn, Russian Deputy PM A.L.Overchuk noted how the peoples of the two countries have had a close relationship and overcome various challenges throughout the years, and expressed that the active support provided from the side of Mongolia during the difficult years of World War II will never be forgotten by the Russian people.
The sides agreed that matters involving loans and properties that have been awaiting resolution for many long years should be resolved on the occasion of the 100th anniversary of diplomatic relations which will be marked on November 5, and start a new century of economic cooperation between the two countries. They also exchanged views on organizing mutual high-level visits and virtual meetings, and highlighted the possibility of discussing some large-scale projects and programs that could be implemented.
At the end of the meeting, the two sides noted the large potential to develop economic cooperation between the two countries as well as between Mongolia and the Eurasian Economic Union, and agreed on cooperating in matters such as digital governance, improving the infrastructure of border checkpoints, developing free economic zones, easing customs checks, and creating correlation between standards.
They also expressed their confidence that the joint studies being carried out on establishing a Free Trade Agreement between Mongolia and the Eurasian Economic Union will be completed in the near future
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How New Labor Law Impacts Your Business In Mongolia www.mongoliaweekly.org

(PwC Mongolia) The revised Labour Law (the “New Labour Law”) was adopted on 2 July 2021 and will come into force next year. The proposal for revising the Labour Law was submitted to the Parliament on March 28, 2018. Furthermore, there had been huge expectations of the revised Labour Law, which replaced the current law after 22 years. With this Tax and Legal Alert, we highlight the key changes in the New Labour Law and its impact on business and payroll calculations.
Application
The New Labour Law will come into force on 1 January 2022. An employment agreement concluded prior to the adoption of the New Labour Law shall be valid for a period agreed upon by the parties. However, if the employment agreement is amended in accordance with the New Labour Law, the legal status and labour conditions of the employee should not be deteriorated.
Key changes
1. Base salary of employees during the probation and apprenticeship period
2. Allowance during a non-compete period
3. Employment deemed to be continuous while employees on a leave
4. Extra pay for night works
5. Annual leave loading
6. Severance pay
7. Limitations on work hours
8. Shift-works
9. On-call schedule
10. Roster shifts
11. Employers’ obligation to provide pay slips to employees
12. Employees’ obligation to pay back study costs
13. Reimbursement for employees who use personal tools and items for work
14. Paternity leave
15. Employing a person with disabilities
Further actions to be taken
Employers are recommended to take the following measures in relation to the New Labour Law:
Update/amend/renew key employment documents such as employment contracts and labor/HR policies/manuals;
Develop/update an employee data protection policy;
Conduct a payroll cost analysis to see impact and budgeting for 2021 and onwards.
Download: Revised Labour Law and its impact on business and payroll compliance
Download: Шинэчилсэн Хөдөлмөрийн тухай хууль болон цалин хөлсний тооцоололд орсон зарим өөрчлөлтүүд
Download: 修 订后的《劳动法》及其对商业和薪资合规性 的影响
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China-Mongolia bilateral trade expected to reach new highs when pressure eased www.news.mn

China and Mongolian bilateral trade is facing a big impact posed by the sporadic COVID-19 outbreaks in some parts of North China’s Inner Mongolia Autonomous Region and the strict but necessary preventative measures on the border. However, with the joint efforts on both sides that are now under close communication, the pressure on the border is expected to ease, possibly lifting bilateral trade volumes to new historic highs, the Mongolian ambassador to China told the Global Times.
Talking to the Global Times on the sidelines of the First BFA Global Economic Development and Security Forum in Changsha, Central China’s Hunan Province, the Mongolian ambassador to China, T.Badral, said on Wednesday that the latest local outbreak in Inner Mongolia Autonomous Region has greatly impacted bilateral trade and transportation of goods.
Currently, there are 13 border ports between China and Mongolia, of which six are open for movement of goods and another two are being used for exports of coal and other minerals.
While the two main ports for coal and mineral exports are working as normal, there are rising pressures on border traffic with the implementation of the strict epidemic preventative measures.
The daily number of trucks transporting coal between Mongolia and China is about 500 and it is expected to reach 600. But this is far from enough given the fact that before the COVID-19 pandemic, over 2,000 trucks crossed the border.
Mongolia has around more than 3,000 Mongolian drivers engaged in cross-border transportation of coal. In order to continue with transportation under the existing COVID-19 border restrictions, drivers must take nucleic acid tests twice a day, one in Mongolia and the other in China, Badral said, an indication that cross-border transport has been done under relatively low efficiency.
Despite the challenges, the ambassador said that both sides are now discussing various options to speed up coal transportation such as using self-driving vehicles to prevent infections at the border.
Also, in order to add to the current transport capacity, Mongolia has proposed additional options for coal transportation, including using coal containers in a closed circuit transport to decrease the risk and prevent COVID-19 outbreaks at major border ports of Mongolia and China, as well as helping increase the volume of coal exports to China, T.Badral said.
Moreover, Chinese and Mongolian governments agreed last year to consider opening railway transports at major border points.
Currently, both sides have already reached common ground on building cross-border railways at the Ganqimaodu port in Inner Mongolia Autonomous Region and a joint declaration is expected to be signed soon before the railway project starts, he said. For the project to be completed around 20 kilometers of railways need to be linked.
This railway is very important for bilateral trade as it is close to the mines and once it starts to operate it is expected to cut down the current transportation costs by three times, Badral said. Transportation operations are expected to open next year.
After the opening of the railway, exports of coking coal from Mongolia to China are expected to increase by 10 to 20 million tons, an increase of 50 percent from the current 32 million tons per year.
While both sides are looking into the possibilities for quicker border traffic under strict epidemic prevention, China and Mongolian bilateral economic and trade ties will be further deepened and consolidated.
The Mongolian ambassador expects the trade flow to reach a $10-billion historic target next year.
In addition to coal, Mongolia is also exporting iron ore to China. Badral expects to increase exports in the future, which will have more possibilities once the transport capacity on the border is upgraded.
The ambassador said that Mongolia is ready to increase the export of food products, such as dairy and meats, as well as wool and cashmere to China as part of its commitment of diversifying its exports to China and beyond.
Source: Global Times
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Gazprom and Mongolia discuss progress of feasibility study for gas pipeline project www.news.mn

On 22 October. a meeting of the joint working group of Gazprom and the Government of Mongolia on the implementation of the Memorandum of Understanding regarding the project for pipeline gas supplies from Russia to China across Mongolia took place in Ulaanbaatar, Mongolia.
The meeting was headed by Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, and S.Amarsaikhan, Deputy Prime Minister of Mongolia. The parties discussed the progress of the feasibility study for the Soyuz Vostok gas pipeline project and heard a briefing on its preliminary results.
It was noted that the Government of Mongolia has already taken a number of measures to provide the project with state support. These include quotas for the hiring of foreign labor by the Gazoprovod Soyuz Vostok special-purpose vehicle, as well as the possibilities of using the regulatory frameworks of Russia and Gazprom during design and construction. In addition, the Mongolian Government has made a decision in principle to reserve land plots for the facilities of the gas pipeline.
Thus far, Mongolian contractors have completed in due time the required on-site surveys, engineering & environmental mapping, and route analysis for the gas pipeline, including its crossing points with the existing utilities.
The meeting participants agreed upon the routing plan proposed by the special-purpose vehicle for use during the development of the feasibility study.
On December 5, 2019, Gazprom and the Government of Mongolia signed a Memorandum of Understanding. The document provides for a joint assessment of the feasibility of the project for pipeline gas supplies from Russia to China across Mongolia.
In April 2021, the feasibility analysis regarding the construction project for the Soyuz Vostok gas trunkline was approved. The Soyuz Vostok gas pipeline will become an extension of Russia’s Power of Siberia 2 gas pipeline in Mongolian territory.
In the course of the feasibility analysis, the basic technical and technological parameters of the project were established. These include the optimal route for the gas pipeline in Mongolian territory, the pipeline’s length and diameter, the working pressure, and the number of compressor stations.
The feasibility study regarding the construction project for the Soyuz Vostok gas trunkline includes a detailed breakdown of the associated investment and operating costs. The study is being prepared by the Gazoprovod Soyuz Vostok special-purpose vehicle.
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Mongolia’s daily Covid-19 toll fall to single digits www.news.mn

More than 10 percent of Mongolia’s population has been infected with Covid-19, according to the Health Ministry. Mongolia, with a population of around 3.4 million, registered 1095 new Covid-19cases in the last 24 hours, bringing the national tally to 350,604.
The Central Asian country has reported 6 more deaths of Covid-19 in the past day, marking the first time daily toll fell to single digits since the country’s outbreak worsened in early September. So far, 1,666 Mongolian lost their lives due to coronavirus infections.
The resurgence of the virus has continued due to the highly contagious Delta variant, although more than 70 percent of the population has received two doses of Covid-19 vaccine.
Mongolia reported its first imported Covid-19case in March 2020 and confirmed its first locally transmitted case in November.
Some 400,000 Mongolians have received a booster shot so far. The ministry has said that at least 50 percent of the population needs a booster.
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China-Mongolia border port handles 8,000 China-Europe freight trains www.english.www.gov.cn

HOHHOT — Erenhot, the largest land port on the China-Mongolia border, has logged 8,000 China-Europe freight trains since the cross-border railway service via this port was launched in 2013, according to the local railway authorities.
The 8,000th train passing through the port has departed from Putian city in East China's Fujian province for Malaszewicze in Poland, carrying export goods of daily necessities.
The port in North China's Inner Mongolia autonomous region now serves 53 China-Europe freight train routes. The routes begin in more than 40 cities across China and end in 60 destinations across 10 countries.
As of Oct 19, a total of 2,172 trains have passed through the port this year, up 16.4 percent year-on-year.
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COVID-19: 1,095 new cases, six deaths reported www.montsame.mn

The Ministry of Health reported that 1,095 new cases of COVID-19 have been reported in the past 24 hours. Specifically, 808 cases were confirmed in Ulaanbaatar city, with 287 cases in rural regions.
As of today, the total number of confirmed COVID-19 cases in Mongolia stands at 350,604.
Furthermore, six new COVID-19 related deaths have been reported, raising the country’s death toll to 1,593. Currently, 11,592 people are receiving hospital treatment for COVID-19 whilst 10,599 people with mild symptoms of COVID-19 are being isolated at home.
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