The revised Law on Labor comes in force from the beginning of this year. One of the amendments to the law is the creation of the legal condition to resolve labor disputes quickly.

According to the law, every entity and organization that employ 20 or more people, regardless of their form of ownership should establish a permanent commission to resolve labor disputes. Entities with less than 15 employees can apply to the Soum and District Labour Rights Dispute Settlement Committee. The Commission should resolve any labor dispute within 10 days.

Therefore, labor disputes are expected to be resolved quickly and at low cost. Resolving labor disputes at the primary level is found to be more effective, noted Sh,Maya, senior specialist at the Ministry of Labor and Social Protection.

With an aim to address disputes and issues related to labor relation within social partnership, a new chapter on social partnership in labor relations was added to the Labor Law.

The Ministry of Health reported that 585 new cases of COVID-19 have been reported in the past 24 hours. Specifically, 385 cases were reported in Ulaanbaatar city, with 196 cases in rural aimags and four imported cases.

It was also reported that three COVID-19 related death has been reported, raising the country’s death toll to 1,992. Currently, 2,474 people are receiving hospital treatment for COVID-19 whilst 4,046 people with mild symptoms of COVID-19 are being isolated at home.

As of today, January 4, the coverage of 1st dose is 69.7 percent (2,266,323) and 2nd dose – 66.5 percent (2,164,579) of the total population. Moreover, 922,681 people (28.4 percent) have received 3rd dose or a booster shot of COVID-19 vaccines nationwide.

The Mongolian Stock Exchange (MSE) was recently highlighted as the top performing stock market of 2021 by Bloomberg. As of December 5, the MSE Top 20 index grew by 104 percent which served as the core factor for Mongolia’s stock exchange to be considered as one of the leading markets.

On top of this, the domestic stock market was added to the Watch List for ‘Frontier Market’ status by the FTSE Russell Group of the U.K in September 2021. This will promote the Mongolian market internationally, and provide significant support in bringing professional investors to the market, highlighted Executive DIrector of MSE Kh.Altai.

Furthermore, works are being carried out to increase active participation in the market and accelerate its development. In 2021, securities worth a total of MNT 1.4 trillion were traded which set a new record. Nine new securities such as ‘Erdenes Tavantolgoi’, ‘Invescore’, ‘LendMN’, ‘Central Express CVS’, and ‘Mandal Future Growth Fund’ were also registered.

As of currently, the total market capitalization of MSE stands at MNT 5.8 trillion - 12 percent of the country’s GDP. Experts believe that the stock market will further expand once large-scale companies running operations in Mongolia begin to be more involved in the market by introducing their own products.

Following the new amendments made to the Banking Law of Mongolia, Bogd Bank became the first bank to issue its stocks.

In the current time of technological advancements, the cryptocurrency market is rapidly developing - and as such, exchange of cryptocurrencies and coins are becoming active in Mongolia. In order to regulate the legal environment, a law on virtual asset service providers will soon be ready along with corresponding rules and regulations. Thus, in 2022, the Mongolian Stock Exchange plans to conduct tests on the exchange of virtual assets.

In the new year, the growth of the domestic stock market is expected to continue as banks are currently preparing their IPO alongside IPOs by state-owned companies in the framework of the ‘New Revival Policy’ of the Government, and dual listing of companies that are currently listed in stock markets abroad.

According to the Minister of Food, Agriculture and Light Industry, Mongolia has had the right to export flour to China.

"Ensuring relevant requirements of quarantine, risk assessment and inspections, 13 flour mills of Mongolia will export flour to China. Assessments and successful meetings with the Chinese side made in 2021 has opened up an opportunity for Mongolia to export surplus wheat to its southern neighbor. In Mongolia, there are more than 50 flour manufacturers with an annual wheat processing capacity of 943 thousand tons. The introduction of the first export of wheat flour to China during the pandemic will have a positive impact on the economy, boosting the two countries' foreign trade turnover, expanding the market for companies to become exporters and increasing incomes,” said Z. Mendsaikhan, Minister of Food, Agriculture and Light Industry.

In 2021, Mongolia harvested a total of 571.1 thousand tons of crops, which was the highest yield that has not been in the last 30 years. Mongolia’s annual wheat demand is about 310 thousand tons.

Canada’s Centerra Gold on Monday confirmed it was in talks with the Kyrgyzstan government for an out-of-court settlement over a dispute in which the state seized the company’s Kumtor mine.

In May 2021, Centerra kicked off arbitration against the former Soviet republic after it took over the country’s biggest mine for allegedly posing danger to human lives or the environment. The company has denied all the allegations.

The company also froze the government’s stake when it seized the mine, meaning it does not have voting rights, nor is it entitled to dividends.

Centerra on Monday laid out a framework for any resolution of the dispute, saying it should receive around 26.1% of its common stock held by state-owned Kyrgyzaltyn JSC.

It also said the state should assume all responsibility for the company’s two Kyrgyz subsidiaries as well as the Kumtor mine.

“At present, the parties are finalizing the discussion of an amicable agreement, including, among other things, the condition for the full transfer of the Kumtor Gold Company to the Kyrgyz Republic,” Kyrgyzstan President Sadyr Zhaparov said in a statement dated Jan. 2.

In December, a source close to the government told Reuters that Kyrgyzstan was pushing for an out-of-court settlement over the dispute.

Centerra and Kyrgyzstan have a long history of disputes over how to share profit from the 550,000-ounce gold mine.

(By Rithika Krishna; Editing by Ramakrishnan M.)

Throughout the year, city authorities always made efforts to reduce traffic congestion. In the past, three bridges (Narnii Bridge, Nairamdliin Bridge, Yarmag Bridge), roads, and more tunnels have been built – yet, congestion has not decreased. Instead, due to the annual import of 80 thousand vehicles on average, the issue became even worse. Eventually, there was no more space to further widen the road, and not enough budget for large-scale construction (about MNT 50 billion per year), so restrictions and fines were imposed.

Recently, however, this imbalance has slightly lessened, allowing the capital city authorities to do significant work. During the extended meeting on May 19, 2021, for the first time, the Government of Mongolia discussed the pressing issues of Ulaanbaatar and made the decision to annually allocate MNT 420 billion to solve traffic congestion. Prior to this, the capital city authorities have been implementing several policies on reducing traffic congestion and all possible solutions that could be thought of except for those that required a large budget, such as subways, overhead roads, and bridges, and a unified traffic management system. This historic decision was made when Governor of the Capital City and Mayor of Ulaanbaatar Sumiyabazar Dolgorsuren and the city authorities cooperated with the Government to raise issues at a time when there was an urgent need for a comprehensive solution for the issue concerning decentralization.

Reducing traffic congestion in Ulaanbaatar is an issue that requires to be dealt with comprehensively. Thus, the government has established the National Committee on ensuring balance between urban and rural development, decentralizing, and reducing traffic congestion, and Prime Minister of Mongolia Mr. Oyun-Erdene Luvsannamsrai is chairing the committee, indicating the importance of tackling the issue.

Decentralization: A public effort

The public perception and participation have begun to be considered a crucial part of new technological advancements, government policies, decisions, and plans. Congestion can be reduced in a relatively short time with proper budget, technological solutions, and cooperation between the government, NGOs, and citizens.

The newly established National Committee on ensuring balance between urban and rural development, decentralizing, and reducing traffic congestion concluded that 149 measures with a total of 27 objectives should be implemented to reduce urban traffic congestion, which also includes creating a comfortable living environment in rural areas. Of the above solutions and measures, the most innovative solution to reduce traffic congestion is the introduction of a smart transport system.

A smart transport system

Within the framework of the objective to fully implement a project on introducing a smart transport system in the capital city that is reflected in the 2020-2024 action plan of the Governor of the Capital City and Mayor of Ulaanbaatar, corresponding relevant officials are carrying out works per the decision of the national committee. The system meets the requirements of all those that are participating in traffic, and is able to make certain calculations with the help of modern AI. It is currently planned to consist of the following subsystems:

1. RFID-based traffic system

2. Integrated smart system for camera surveillance

3. Traffic light control system

4. Integrated management system for car parks

5. Smart public transportation system

6. Management system for Taxis and Special Transport

The RFID-based traffic system will enable traffic monitoring and planning in Ulaanbaatar. However, with the introduction of an integrated smart system for camera surveillance, it will be possible to set traffic safety rules in the AI database, prevent crimes, and improve traffic management and monitoring.

Oyun-Erdene Luvsannamsrai: The government will “green light” the decision

Prime Minister Oyun-Erdene Luvsrannamsrai

- Ulaanbaatar city must have a standard. Let's set standards that need to be implemented in the capital city. Let's inform the public about the reality of the current state. There is no truth more than reality, after all.

To resolve all these issues, the support, assistance, resolutions, and decisions that are necessary to be made by the Government and the Parliament needs to be introduced.

The government will create the conditions for making certain decisions at the legal level. We will “green light” the decision.

B.Odsuren: Incentives will be used to promote the use of public transportation

Capital City Road and Transport Projects Manager Odsuren Badarch:

- According to studies, schools, offices, shopping malls, and business organizations in Ulaanbaatar open and close at the same time, causing heavy traffic congestion. From 07:00 to 10:00 in the morning and from 17:00 to 20:00 in the evening, there is often very heavy traffic. Therefore, it is necessary to implement regulations for flexible time management. A lot of people tend to go to shopping centers on Mondays and Fridays. Fifty percent of the people participating in road traffic drive their cars in the morning and leave it parked all day. Therefore, incentives will be used to promote the use of public transportation.

As of 2020, there are:

o 1.1 million vehicles nationwide

o 715,309 passenger cars,

o 241,268 trucks,

o 36,084 buses,

o 20,672 vehicles being used for special purposes,

o 40,616 locomotives,

o 54 percent of total vehicles are in Ulaanbaatar - 615,622

o 46 percent are in rural areas – 521,112

MEDIA RELATIONS DEPARTMENT OF

THE GOVERNOR’S OFFICE OF THE CAPITAL CITY

Go to the remote Asian country of Mongolia and will be confronted with many things. The capital Ulaanbaatar is the coldest capital city in the world, one will see the unending Asian steppe and the nomadic Mongolians living like they always have, the vast expanses (Mongolia is the least densely populated country in the world), and a massive new equestrian statue of Genghis Khan.

Mongolia is an exotic country to visit and one that is full of surprises. One of the most adventurous things to do while in this sparse country is to go on a multiday horse riding expedition through some of the most remote parts of Mongolia.

About Genghis Khan And His Massive Empire

The most famous Mongolian to ever live was Genghis Khan, he was the first Great Khan (or Emperor) of the Mongol Empire. He made the world tremble as he defeated innumerable armies, raised cities, and established the largest contiguous empire the world as ever known (only the British Empire was larger).

Largest: The Mongolian Empire Was the Largest Contiguous Empire

Genghis Khan lived from around 1158 to August 18, 1227. His birth name was Temüjin and had to flee from other Mongolian tribes as a boy. But eventually, he was able to defeat the other tribes, then unite them, and then attack and invade ancient China and beyond.

Birthname: Temüjin

Lived: From Around 1158 to 1227

The Mongolian invasions would go on penetrate as far we as Poland and as far south as Egypt. For hundreds of years, Russia was ruled by the Golden Horde - a Mongolian splinter empire.

Through much of the world that he conquered, he and the Mongolians were feared. History describes much of the conquest as wholesale destruction on an unprecedented scale that resulted in major demographic changes and drastic declines in population.

Fun Fact: The Mongols Are The Inspiration For The Dothraki of Game of Thrones

If one visits the reclusive country of Turkmenistan, one will find the ruins of the once-great city of Merv. At one time it may have been the largest city on earth but when the Mongols took it, it is recorded the city was utterly destroyed including the wholesale massive of 1 million inhabitants.

How Genghis Khan Is Seen In Mongolia

Given how the world remembers Genghis Khan it may seem odd to build such a large monument to honor him. But The Mongolians do not see him in the same way as much of the rest of the world.

National Hero: To The Mongolians, Genghis Khan Is A National Hero

They see him as a national hero that put their country on the map. As a military genius who defeated the most advanced armies and empires all around the world. It was during this period and because of him that their tribes were known and respected in the world - instead of being insignificant to the world like they were before Ghengis Khan.

He united them behind a common cause. Before they we were united and warring amongst ourselves.

Trade: Under The Mongolian Empire Trade Flourished

Genghis Khan did more than conquer, he also brought learning and trade and opened the world up like never before. For the first time in history, one could travel (more or less safely) from Europe to China.

The Genghis Khan Equestian Statue

The impressive statue is part of a larger complex and rises 40 meters or 130 feet tall. It is constructed out of stainless steel and depicts the Great Khan on horseback. Today it is the world's tallest equestrian statue and is around 54 kilometers or 33 miles east of the capital city of Ulaanbaatar.

Height: 40 Meters or 130 Feet

Built: In 2008

Designed: By Sculptor D. Erdenebileg and Architect J. Enkhjargal

It is built at the location where according to one legend Genghis Khan found a golden whip.

The statue is built on the Genghis Khan Statue Complex - a visitor center. The visitor center itself is full of symbolism with 36 columns representing the 36 khans from Genghis Khan to Ligdan Khan.

Museum: There Is Also A Museum At The Complex

The attached museum delves into Mongolian history with exhibitions from the Bronze Age and the Xiongnu archeological cultures of Mongolia. One will see various everyday objects from the people of the past and gain an idea of how they lived. See belt buckles, knives, everyday utensils, sacred animals, and more.

A second exhibition on the period of the Great Khans of the 13th and 14th centuries displays ancient tools, goldsmith subjects, and some Christain objects brought to Mongolia like Nestorian crosses and rosaries.

Visitors can walk to the head of the horse through its chest and neck. From here one can have panoramic views of the surrounding steppe.

Mongolia is planning to hold an annual ice festival in March to revive the country's pandemic-battered tourism sector, organizers said on Monday.

The annual festival called "Blue Pearl" was cancelled due to the COVID-19 pandemic in 2020 and 2021, and the 21st edition of the festival will be held from March 2-5 in the northernmost province of Khuvsgul under the auspices of the country's Ministry of Environment and Tourism, according to a statement by the provincial governor's office.

The festival will include many activities such as ice knuckle-bone shooting contest, bicycle and ice skate races, moto sports performance, sled dog race, tug of war, relay race, family contests and horse races.

Currently, Mongolia's economy is largely dependent on its export-oriented mining sector. Developing tourism is seen as the most viable way to diversify the economy.

However, the country's tourism sector as a whole has stagnated over the past two years due to the pandemic.

The number of freight trains via Mongolian territory for Asia-Europe and China-Russia routes reached 2,500 at the end of 2021, an increase of nearly 200 from 2020, local media reported on Monday.

Citing a statement from the company, the report said that the number demonstrates that the Ulan Bator Railway company, Mongolia's official railway operator, has not only become an active participant in regional and international transport and logistics, but also a strong competitor in the land corridors connecting China and Europe.

There were 2,312 such freight trains traveling through Mongolia in 2020, according to the statement.

Mongolia plans to become a transit state, offering the shortest route from Europe to Asia through its territory, Mongolian President Ukhnaa Khurelsukh has said.

The Ministry of Health reported that 138 new cases of COVID-19 have been reported in the past 24 hours. Specifically, 360 cases were reported in Ulaanbaatar city, with 100 cases in rural aimags and 28 imported cases.

It was also reported that one COVID-19 related death has been reported, raising the country’s death toll to 1,989. Currently, 2,179 people are receiving hospital treatment for COVID-19 whilst 3,457 people with mild symptoms of COVID-19 are being isolated at home.

As of today, January 4, the coverage of 1st dose is 69.7 percent (2,266,225) and 2nd dose – 66.5 percent (2,164,363) of the total population. Moreover, 919,478 people (28.3 percent) have received 3rd dose or a booster shot of COVID-19 vaccines nationwide.