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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2022 State Budget framework statement presented to Speaker www.montsame.mn

On September 30, Minister of Finance B.Javkhlan presented bills on amendments to the 2022 State Budget framework statement and the Budget Assumption for 2023-2024 to Speaker G.Zandanshatar.
The Government of Mongolia has implemented certain measures on recovering the economy, protecting public health and citizens’ livelihood, and supporting entities during the COVID-19 pandemic. As a result of the quick actions taken in terms of healthcare, 65.5 percent of the country’s total population have been fully vaccinated so far. Taking these factors into consideration, Mongolia’s economy has been projected to grow by 6.3 percent in the first half of 2021, and 6.5 percent in the latter half as well as a growth of 5.0 percent in 2022.
“The 2022 State Budget bill focuses on putting efforts into the country’s post-pandemic economic recovery by increasing employment and productivity and diversifying the economy, and implementing policy measures on stabilizing economic growth for the mid-term. Thus, in order to implement the policy on economic recovery in 2022, it became necessary to amend the core specifications of the economy that is reflected in the 2022 State Budget framework statement and Budget assumption for 2023-2024,” introduced the Finance Minister.
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Autumn session of State Great Khural opens www.montsame.mn

A regular autumn session of the State Great Khural (Parliament) of Mongolia has opened today, October 1, with 74.3 percent turnouts.
The resolution on the agenda of the autumn session was approved by the Parliament on July 8, 2021. Accordingly, a total of 72 bills will be discussed during the autumn session.
The opening of the session has been virtually attended by heads of foreign diplomatic missions in Mongolia, Ulaanbaatar city officials and officials appointed by the Parliament.
Under the Law on the State Great Khural, the regular autumn session of the State Great Khural shall begin on October 1, and the regular spring session shall begin on March 15, and last at least 75 working days.
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Tesla shrugs off chip crisis as electric vehicle deliveries hit another record www.rt.com

Electric car giant Tesla has significantly expanded its production and export of made-in-China (MIC) vehicles, reaching a new all-time record last month, data from the China Passenger Car Association (CPCA) has revealed.
In August, its total volume of sales reportedly increased 275% year-over-year, and amounted to 44,264 units, including 31,379 for export. The month-over-month increase reportedly totalled 29%.
Meanwhile, local sales of China-made cars rose to 12,885 vehicles last month, compared to the 8,621 that were sold in the country in July. The relatively low level of local sales has been attributed to the company’s major focus on exports. However, domestic sales of Model 3 sedans and Model Y sport-utility vehicles saw a growth of 9% year-over-year.
The growth in sales and output comes amid severe worldwide chip shortages, which continue to weigh on automakers across the world.
In July, Tesla unveiled a cheaper, lower-range, made-in-China Model Y. Its lower price makes the vehicle eligible for government subsidies, which brings the price down to $42,600 – nearly 20% less than the longer-range Model Y. The automaker also lowered the starting price for Model 3 sedans.
Earlier this year, Tesla announced that it would transform its Shanghai GigaFactory into a major automobile export center. In China, the automaker faces increased scrutiny from both regulators an
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Foreign investors are losing out in Evergrande's battle to survive www.cnn.com

Hong Kong (CNN Business)The endgame for Evergrande is still up in the air. But the troubled Chinese conglomerate is starting to get its priorities in order — and foreign investors look to be bottom of the list.
In recent days, the property giant has worked to clear some tabs with domestic lenders as it tries to sort through its $300 billion mountain of debt. But the firm has stayed silent on two interest payments to offshore investors that came due in the past two weeks.
Those interest payments were due on dollar-denominated bonds: one for $83.5 million, and the other $47.5 million. Deadlines came and went last Thursday and this Wednesday, respectively, with no official update.
That suggests that the company's priority is to pay back Chinese investors first, if it can pay them back at all. It's also under huge pressure from Beijing to protect people who bought its apartments and have not yet taken possession of them. China's real estate sector and related industries are estimated to account for about 30% of GDP, and officials want to avoid a wider crisis.
On Wednesday, Evergrande announced it had agreed to sell part of its stake in a local bank to a state-owned business for nearly 10 billion yuan (about $1.5 billion).
In a stock exchange filing, the developer said that its cash crunch had hurt the operations of Shengjing Bank "in a material way," and that the lender had demanded that all proceeds from the sale be used to resolve "financial liabilities" between the two parties.
Evergrande also recently reached an agreement on interest due on a yuan bond, saying the matter had been "settled through negotiations."
It might be some time before the company's future comes back into focus: Mainland China has just kicked off a major, week-long public holiday. But markets are open next week in Hong Kong, where Evergrande's shares and some of its bonds trade. And rumors about its fate could continue to rattle stocks.
Adam Slater, lead economist at Oxford Economics, said that investors will keep an eye out for any developments, or even rumors.
"Global markets may still react," he told CNN Business.
No sign of a 'Lehman moment'
Evergrande is China's most indebted developer, and its huge liabilities include nearly $20 billion in international bonds, according to data provider Refinitiv Eikon.
But because foreign lenders hold a "relatively small share" of Evergrande's overall debt, their losses "won't be large enough to cause any significant international contagion," said Slater.
"Imposing losses on them frees up funds to compensate domestic creditors, suppliers [or] consumers," he added.
According to Slater, the scale of the potential damage to overseas creditors "looks manageable." He estimated that they could ultimately lose about $15 billion, assuming current bond pricing "accurately reflects the ultimate recovery value of Evergrande's offshore bonds."
"This is not especially large as corporate defaults go," he noted.
In recent weeks, international investors have been swayed by fears of contagion from Evergrande and a slowdown in Chinese growth. The situation last month prompted panic in global markets, as well as large protests in China.
Some have even raised the possibility that a default by Evergrande could turn into China's Lehman Brothers moment, though many analysts say that is unlikely.
Slater said that while a collapse of Evergrande would be significant, "it's not a 'Lehman moment.'"
The priority for Chinese authorities "seems to be to prevent domestic contagion of Evergrande's problems, especially contagion that would hurt consumers and suppliers," he noted.
"Markets assume — probably correctly — that the Chinese authorities will contain the impact of Evergrande's financial woes."
Beijing has few good choices, though. It will want to protect the many Chinese people who have bought unfinished apartments from Evergrande, as well as construction workers, suppliers and small investors.
According to recent analysis from Bank of America, Evergrande has sold 200,000 housing units that have not yet been handed over to buyers.
The government will also want to limit the risk of other real estate firms going under. At the same time, Beijing has long been trying to rein in excessive borrowing by developers — and it won't want to dilute that message.
So far, experts say that potential outcomes include a Beijing-backed bailout, restructuring or default.
China moves to protect consumers
In recent weeks, the government has turned its focus to limiting fallout from the crisis and protecting ordinary people, though it has refrained from commenting on Evergrande directly.
In a statement late last month, the People's Bank of China vowed to "maintain the healthy development of the real estate market, and safeguard the legitimate rights and interests of housing consumers."
While it did not refer to Evergrande specifically, the central bank has been pumping cash into the financial system over the last few days to help stabilize the situation and calm nerves.
On Tuesday, it announced that it had added 100 billion yuan (approximately $15.5 billion) to the system, saying it was to keep liquidity going.
Iris Pang, chief economist of Greater China at ING, said that the move was "a symbolic signal to the market, that the Chinese government is in control of the incident, and is not letting the incident become a crisis."
But even if losses for overseas investors are relatively contained, the crisis could force some to rethink how they lend to other Chinese companies in the future, according to Slater.
He warned that lenders could "decide to 're-price' China [risks] in the light of their treatment in the Evergrande restructuring, and in the light of what the Evergrande problems tell them about the broader risk/ reward trade-off in Chinese debt."
"That in turn depends quite a lot on the exact way the Evergrande restructuring is organized," he added.
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Russia & China trade to reach record levels in 2021 – Russian economy minister www.rt.com

Trade turnover between Russia and China has grown by a third since January, according to Russia’s Ministry of Economic Development, which expects further growth this year.
“By the end of the year, there is every chance to reach a historical maximum [in trade turnover with China],” the head of the ministry, Maxim Reshetnikov, said on Wednesday at a meeting of the Russian-Chinese subcommittee on trade and economic cooperation.
Reshetnikov praised the steady confidence Chinese companies have put in the Russian market, shown by prolonged economic activity and the launch of new projects even in the midst of the Covid-19 pandemic. The ministry plans to send four of its representatives to China to work in the Russian trade mission and promote cooperation with emphasis on the digital economy and sustainable development.
Among the issues discussed at the meeting were the restoration of supplies of Russian fish products to China, ensuring uninterrupted export cargoes crossing the Russian-Chinese border by land, and expanding cooperation in agricultural trade.
“We are interested in the implementation of new large projects – the first Russian-Chinese insurance company, the construction of additional capacities of the terminal for receiving and transshipment of liquefied petroleum gas and propylene in Manchuria,” Reshetnikov said.
According to China’s customs administration, trade turnover with Russia at the end of 2020 dropped by 2.9% in annual terms and amounted to $107.76 billion. However, in the pre-crisis years, the indicator grew steadily, rising gradually from $69.52 billion at the end of 2016 to $110.75 billion in 2019. Both countries plan to get back on course as soon as possible, with the goal of increasing the volume of bilateral trade to $200 billion per year.
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How Does A 9-Day Motorcycle Journey Across Mongolia To Deliver A Bike To A Park Ranger Sound? www.forbes.com

Imagine this. You’re in the farthest corners of Mongolia. You got there by way of a brand new Yamaha AG200 motorcycle. You’ve just ridden for nine days across some of the most challenging terrain in the world, and you’re greeted by a battalion of National Park rangers on horseback. You hand over the keys to your bike, and your journey is done – you’ve just delivered a brand new, more efficient way for that ranger to protect the lands you’ve just come to appreciate. That’s what a Rally for Rangers expedition is all about.
One of the coolest tourism-for-good initiatives for anyone interested in combining the two things they love most – motorcycles and the outdoors, obviously – Rally for Rangers has been delivering motorcycles to park rangers across Mongolia (and beyond) since 2014.
Rider Bryon Majusiak, a four-time Rally for Rangers rider, handing over the keys to his motorcycle to a park ranger during the presentation ceremony.
Lead by Wesley Thornberry, a photographer, adventurer, and founder of Trend Digital, an imaging and post-production services company based in Ulaanbaatar, alongside rally co-founder Tom Medema, a 30-year ranger with the U.S. National Park Service, the Rally for Rangers Foundation has delivered 150 new motorcycles to rangers in 13 parks in four countries around the world since it’s inception.
The Rally for Rangers Mongolia 2021 Journey: 15 Riders Take on 1,500 Kilometers of Remote Mongolian Wilderness
For 15 riders, a Rally for Rangers expedition is the adventure of a lifetime.
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This 9-day, 1,500-kilometer journey across some of the most remote, untouched, and inaccessible parts of Mongolia ends as riders then hand over the keys to their “new” motorbike – a bike that had zero kilometers clocked on it when they started on this journey from Ulaanbaatar.
The bikes, Yamaha AG200 motorbikes, are simple, no-nonsense bikes popular with farmers and cattle herders in Australia. With details such as chain guards and drum brakes, these rugged, ready-for-anything motorcycles are precisely the type of machinery that suits Mongolia’s rough terrain and remote, no-repair-shop-in-sight, expeditions.
“The only thing more rewarding and exhilarating than riding over 1,500 kilometers of dirt, mud, and river bottom is handing over the keys to an (almost) new motorcycle, so these rangers can better protect the incredible natural and cultural resources,” says the Rally for Rangers website.
“Having the motorcycles changes how we do our job. Before, we would spend three days going somewhere on horse, but now we spend a half-day going on the motorcycle,” says Batdorj Davaa, a National Park Ranger in Mongolia.
So, this mission to deliver these motorcycles is important. And it’s working.
“You hear the stories of the decline in poaching. And the decline in illegal mining over the last six or seven years. That’s real tangible results from these guys and gals being able to get out on these bikes and do a lot more. It doesn’t get any better, and that’s so rewarding for everyone involved,” says Medema.
In Mongolia, Rally for Rangers partners with the Mongol Ecology Center, a Non-Governmental Organization (NGO) working hard to protect and develop National Parks around the country. From facilitating the Rally for Ranger's expeditions to creating “Sister Park” relationships with national parks abroad, the Mongol Ecology Center isn’t just focused on what they can do now – they’re worried about what they can do now to support these parks 25 years from now.
“With the collapse of the Soviet Union in 1990, 30% of Mongolia’s GDP vanished overnight. Economically devastated, Mongolia opened over half of its pristine landscape to foreign business to develop through the extraction of the huge deposits of valuable mineral resources and to the ever-increasing demand for animal products.
Due to this unsustainable development and irresponsible decision-making, Mongolia is now facing environmental challenges that threaten its natural resources and millennia-old nomadic lifestyle. These changes are all the more distressing to many Mongolians because respect for the environment is an important cultural part of Mongolian history dating back to Chinggis Khaan (Genghis Khaan). But how can economic growth be balanced with the preservation of Mongolia’s most valued natural and cultural heritage that ensures a sustainable future?” reads the Mongol Ecology Center website.
Well, I’m glad you asked. Because it’s super straightforward. The cost to join this adventure is $10,750.
That goes towards buying and importing your brand new Yamaha into Mongolia, all your accommodations, meals, and transportation once you land, as well as support vans, a mechanic, translators, cultural ceremonies, a welcome orientation, farewell dinner, and everything you’ll need to sleep at night during this adventure, including Mongolia-ready tents and sleeping bags.
How you raise this money and pay for this experience is up to you. You can ask friends to donate, businesses to sponsor you, whatever you need to do to raise this amount, which doesn’t include international flights, travel insurance, or visa fees.
Where else does Rally for Rangers ride?
While Rally for Rangers has strong roots in Mongolia, they’ve since expanded to include rallies and motorcycle deliveries to rangers in Nepal, Patagonia (Argentina), and will soon be hosting rallies in Bhutan (November 2021) and Peru (May 2022).
For more information on how the Rally for Rangers initiative works, watch the documentary film trailer.
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Mongolia to cooperate with Thailand in the field of meteorology www.montsame.mn

Mr.Enkhtuvshin Sevjid, Director-General of the National Agency for Meteorological and Environmental Monitoring of Mongolia, and Dr.Surasri Kidtimonton, Director-General of Department of Royal Rainmaking and Agricultural Aviation of the Kingdom of Thailand signed the Joint Action Programme (JAP) for Technical Cooperation on Weather Modification on September 27, 2021.
The aim of JAP is to introduce the Royal Rainmaking technology project initiated by His Majesty King Bhumibol Adulyadej the Great of Thailand. The “Royal Rainmaking” project, which uses weather modification technology will help mitigate the effects of climate change and desertification, promote sustainable agriculture, reforestation, and fight forest and steppe fires in Mongolia.
The representatives of the Office of Her Royal Highness Princess Maha Chakri Sirindhorn’s Projects, Thailand International Cooperation Agency and Embassy of Mongolia to Thailand participated in a virtual signing ceremony and delivered congratulatory remarks.
Source: Ministry of Foreign Affairs
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National consumer price index increased by 0.4 percent from the previous month www.montsame.mn

In August 2021, consumer price index (CPI) at the national level rose by 0.4% from the previous month, by 8.9% from the end of the previous year and by 8.9% from the same period of the previous year.
The 8.9% increase in consumer price index from the same period of previous year was mainly contributed by 13.7% increase in prices of food and non-alcoholic beverages group (meat and meat products by 16.8% non-alcoholic beverages by 8.6%), 3.8% increase in prices of alcoholic beverages and tobacco group, 4.0% increase in prices of clothing, cloth and footwear group, prices of housing, water, electricity and fuels group increased by 7.0% (electricity, gas and other fuels increased by 8.1%), 6.4% increase in prices of medicine and medical service group and 16.3% increase in prices of transport group.
The 0.4% increase in CPI from the previous month was mainly resulted from 2.2% decrease in prices of food and non-alcoholic beverages group (meat and meat products by 6.1%), 0.5% increase in prices of alcoholic beverages and tobacco group, 0.9% increase in prices of medicine and medical service group and 2.7% increase in prices of transport group.
The inflation rate was 6.0% in August 2018, 8.9% in August 2019, 2.1% in August 2020 and reached 8.9% in August 2021, increased by 6.8 percentage points from the same period of previous year.
In terms of contribution of price changes of goods and services groups to 8.9% inflation rate in August 2021, 3.7 units (41.6%) were contributed from changes in prices of food and non-alcoholic beverages group.
The price of 373 items was collected for the consumer goods and services basket at the national level and prices of 344 items collected for goods and services basket in Ulaanbaatar. Out of 373 selected items of goods and services, 200 items were imported goods and services, which accounts for 45.5% of the total weight.
In August 2021, 49.4% of 8.9% inflation rate was mainly contributed by an increase in prices of imported goods and services, reported the National Statistics Office of Mongolia.
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Cabinet meeting in brief www.montsame.mn

At its regular meeting on September 29, the Cabinet made the following decisions:
The Cabinet discussed and decided to submit to the State Great Khural the 2022 budget framework statement, amendments to the budget assumption for 2023-2024, and draft laws on the 2022 budget of Mongolia, 2022 budget of the Social Insurance Fund, 2022 budget of the Health Insurance Fund, and 2022 budget of the Future Heritage Fund and accompanying bills.
A progress report on the development of the law on intensifying economic recovery during the pandemic was presented and it was decided that the draft law would be presented at the Cabinet’s meeting next week.
The draft law on mining exchange was discussed at the Cabinet meeting and will be submitted to the State Great Khural.
The Cabinet discussed a decree President of Mongolia U.Khurelsukh issued to mitigate climate change, protect forest and water resources, and ensure ecological balance and decided to make some proposals to the President after approving it in principle.
The Cabinet heard a progress report on the activities of the working group tasked with improving Mongolia' rating in Corruption Perception Index. The working group has completed a study of the special rights, permission, and licenses issued by government organizations to make some activities exempt from those permissions, digitize the process, and create a database.
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Mongolia’s first ever winter sports palace opens www.montsame.mn

On September 29, the opening ceremony for the 'Ice Palace' took place in the capital city’s Khan-Uul district.
Unique for being Mongolia’s first-ever indoor ice arena that complies with the standards of the International Olympic Committee, the architectural design and blueprints for the sports palace was done by a team of young Mongolian architects at Anagram LLC, with the advice and consultancy of professional institutions and architects specialized in sports facilities such as the Canadian architecture firm HDR and VDA Architecture Ltd.
With the ‘Ice Palace’ put into operation, it becomes possible for those interested in winter sports as well as many generations of ice skaters and hockey players to hone their skills no matter the season. Alongside competitions for certain winter sports such as hockey and figure skating, various other sports events such as basketball, handball, and boxing as well as concerts and performances, and conferences are able to be organized in the arena. The venue has a capacity of seating 2,600-3,600 people.
The opening ceremony of the Winter Sports Palace was attended by President of Mongolia U.Khurelsukh, who gave remarks congratulating the project implementing body.
He said in his remarks, “During my time as the Deputy Prime Minister four years ago, I became acquainted with the construction project for the winter sports palace and held discussions with the corresponding organizations about its construction alongside former President Kh.Battulga. The “ice” palace has been constructed through the partnership between domestic companies. I express my sincere gratitude to you all for completing this large-scale project by introducing new engineering technologies and overcoming the challenging obstacles and circumstance.”
Governor of the Capital City and Mayor of Ulaanbaatar city D.Sumiyabazar, Chief of the Physical Culture and Sports Authority Ts.Sharavjamts, and representatives of foreign countries’ embassies in Mongolia attended the ceremony.
The opening ceremony was also attended by executives of the companies in charge of the project’s construction and financing, including ‘Ice Palace’ project initiator and lead, Chairman of the Board of Directors at Steppe Arena LLC P.Tsagaan, CEO of Anagram LLC B.Zolboo, CEO of Achit Ikht LLC D.Erdenetsetseg, CEO of Steppe Arena LLC N.Batmunkh, CEO of Steppelink Holding LLC Ts.Munkhtuvshin, Head of the Policy Committee at Mongolyn Alt (MAK) LLC B.Nyamtaishir, and CEO of United Projects Corporation LLC Ts.Uuganbayar.
As Mongolia has no prior experience in constructing indoor venues for organizing winter sports competitions and events, an invitation for bid was issued for companies in the regions of North America and Europe for the supply of products, its installation, and appropriate corresponding training. AST Eis- und Solartechnik GmbH, an Austrian company specialized in constructing professional ice rinks, was selected for constructing the Olympic-size ice rink at the venue.
A total of 95 Mongolian companies and six foreign companies, 1,600 construction workers and engineers were involved in the construction of the ‘Ice Palace’.
On the occasion of the event, President of the International Olympic Committee Thomas Bach has also sent greetings to Acting President of the Mongolian National Olympic Committee Ch.Naranbaatar. In the letter, he congratulated the committee on the establishment of the venue that will allow international sports events to be organized, and wished success for the preparation of athletes for the 2022 Winter Olympics.
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