Mongolia has officially commenced the export of live sheep to Uzbekistan, marking a significant step in agricultural trade between the two nations, local media reported on Wednesday, citing the Ministry of Food, Agriculture and Light Industry.

The initiative stems from an agreement made during Mongolian President Ukhnaa Khurelsukh's state visit to Uzbekistan in June, the ministry said in a statement.

During the visit, the two countries' leaders pledged to enhance cooperation in agricultural trade, specifically in the supply of wool, cashmere, leather, meat, and meat products from Mongolia to Uzbekistan and, through Uzbekistan, to other Central Asian markets.

As part of this agreement, Mongolia committed to exporting 100,000 live livestock to Uzbekistan, according to the ministry.

"The agreement has now been officially implemented, and the first shipments have already begun. Since Dec. 21, Mongolia has transported 1,440 live sheep to Uzbekistan on two flights," the ministry said.

Promoting livestock husbandry is considered a key strategy for diversifying Mongolia's mining-dependent economy.

As one of the world's last remaining nomadic nations, Mongolia had 64.7 million livestock at the end of 2023, with sheep making up 45.5 percent of the total, according to the National Statistics Office.

This time, Inside Mongolia features an insightful interview with Koji Kurushima, CEO of Mobicom Corporation. In this interview, we delve into the opportunities for foreign investment in Mongolia's telecommunications sector, as well as Mobicom’s journey from its past achievements to its future ambitions.

How attractive is Mongolia's telecommunications sector for foreign direct investment, and do Mongolian telecom companies need further foreign investment?

The telecommunications sector in Mongolia presents a compelling investment opportunity, largely due to the initial foreign investments, such as those from Japanese and Korean companies. Over the years, telecom companies in Mongolia have become deeply embedded in society. While there may not be an immediate pressing need for additional foreign investments, the long-term outlook is optimistic due to the nation's growing population and economic development. However, global telecom markets can be capital-intensive because of infrastructure costs, so an investor’s perspective plays a crucial role in determining whether the sector is attractive.

As for whether Mongolian telecom companies need further foreign investment, it depends on the specific goals of the companies. While these companies are well-established, the decision to seek further investment will ultimately depend on their strategies for growth.

Opportunities do exist in certain areas, such as apps, services, and platforms, but the companies' own objectives largely drive the need for foreign capital.

Are foreign companies interested in investing in Mongolia, particularly in the telecom sector, and what makes Mongolian telecom companies unique to investors?

Foreign companies may indeed be attracted by Mongolia's growing population and economic potential. However, investing in telecom infrastructure can be expensive due to the significant capital required. From an investor’s viewpoint, areas like mobile applications, services, and platforms might present less expensive investment opportunities as they can be sold globally through app stores like Apple Store or Google Play without requiring heavy infrastructure costs.

Mongolian telecom companies, on the other hand, may not scream “investor magnet” at first glance. Their enterprise values, built over decades, demand deep pockets even for minority stakes, and quick returns aren’t guaranteed. But here’s the kicker: when local companies need fast funding, foreign capital becomes the ace up their sleeve. These companies shine in their ability to draw both financial investors chasing high returns and global telecom operators hungry for cross-border market expansion. For operators, such investments are a gateway to forming strategic alliances, scaling customer bases, and extending global reach, making Mongolia’s telecom sector a surprisingly enticing play for the right investors.

Is the regulatory environment in Mongolia challenging for investors, especially in telecom?

The regulatory environment in Mongolia can be challenging, though this varies by sector. In the telecom space, companies must adhere to licensing regulations, meaning market entry is restricted. With only five telecom companies, the limited number of licenses makes it hard for new entrants to break in. Moreover, concerns around the transparency and consistency of government policies, especially related to economic stability and long-term planning, could deter investors. Clarity from the government on its vision is crucial to boosting investor confidence.

Mobicom stands as a successful example of foreign investment in Mongolia. Since becoming a subsidiary of KDDI, how much capital has the Japanese telecom giant invested in Mongolia through Mobicom?

Since becoming a subsidiary in 2016, KDDI has invested over $300 million into Mobicom, focusing on network expansion and if considered from its birth more than $1 billion.

This investment includes not only KDDI’s direct capital but also revenue reinvested from the business itself. As Mobicom generates income through customer payments, it reinvests these funds into further network development, ensuring a sustainable investment cycle.

Moreover, KDDI has shared extensive technological expertise with Mobicom, particularly in advanced technologies like 4G and 5G. Given Japan's leadership in technology, KDDI has enabled Mobicom to access cutting-edge solutions. Additionally, exchange programs allow Mobicom employees to work at KDDI’s facilities in Japan, gaining hands-on experience in a global context, which is then applied to improve local business practices.

In recent years, the Government of Mongolia has prioritized the digital transformation of the country. In alignment with this goal, how much support does the government extend to telecom companies?

The Mongolian government has prioritized digital development, exemplified by the "E-Mongolia" initiative, which seeks to digitize public services. While the government provides support for digital initiatives, telecom network investments mainly rely on the private sector. The Universal Service Fund, for instance, helps extend coverage to underserved areas, and the government also solicits feedback from telecom companies to ensure policies align with market needs.

Let’s move to the second part of the interview. Could you walk us through Mobicom’s past goals and future plans?

Founded in 1995, Mobicom initially focused on 2G voice services. For a decade, it was the sole operator in the market. With the arrival of competitors in 2005-2006, Mobicom shifted its focus to improving connectivity. The introduction of 3G brought internet access to mobile phones, and by 2016, 4G revolutionized data speeds, greatly impacting social media usage in Mongolia. Today, Mobicom continues to enhance its network, expand its enterprise services, and improve its data infrastructure, especially in response to the increased demand for IT solutions post-pandemic.

Looking ahead, Mobicom aims to continue expanding network coverage, particularly in underserved areas of Mongolia. While its network has grown significantly, demand remains high in certain regions. The company is also working on expanding its network capacity to meet rising data usage demands. Additionally, Mobicom is focused on supporting businesses with IT solutions, helping them optimize operations and expand into global markets.

In recent years, the Internet of Things (IoT) has emerged as a hot topic, often referred to as the Internet's new era. Does Mobicom have any plans for IoT?

Mobicom is deeply involved in IoT through its connectivity services, such as powering point-of-sale (POS) machines in retail and exploring IoT applications in rural areas for services like water and electricity meters. By enabling remote data collection, Mobicom is helping businesses optimize operations and reduce the need for manual data collection, even in sparsely populated regions.

Could Mobicom expand internationally, and what challenges would it face?

Mobicom has explored the possibility of expanding into Central Asia, where market similarities, including shared cultural aspects and the widespread use of Russian, could ease communication. However, international expansion would require approval from the parent company, KDDI, and would pose challenges related to integrating Mobicom's brand and infrastructure into new markets.

Thank you for your time and for sharing your valuable insights with us.

Thank you. Happy New Year to you all.

After months of depressing news about countries backsliding on climate pledges and companies softening green ambitions, it’d be easy to forget this year also saw impressive developments in the fight against global warming.

Solar installations popped up in unexpected places. Cities experimented with wild adaptation projects. Elderly Swiss women even won a major climate case in a European court. Bloomberg Green covered these events and more. Here’s a round-up of the good news from 2024.

Solar energy had a record year

Solar capacity around the world was rolled out at a record pace, as bargain panel prices helped countries deploy cleaner energy. Major markets like China, India and Germany showed steady growth, while demand soared from countries that previously showed little interest in the energy source, such as Saudi Arabia and Pakistan. Meanwhile, both wind and solar capacity surpassed a target in China almost six years early.

Britain embraced the Sun, ditched coal

The British Library unveiled a £1.5 million ($2 million) solar installation on its roof this year, while the Church of England began generating electricity from a dramatic 438-panel display on a historic chapel in Cambridge. Meanwhile, the UK turned off its last coal-fired power plant at the end of September, marking itself as the first G7 nation to purge the fossil fuel from its electricity mix.

Electric Vehicles

Norway went all in on EVs

Norway prepared to meet its 2025 goal of eliminating fossil-fuel-powered car sales. Incentives and policies have made electric vehicles a mainstay on its roads. Today, EVs make up about 25% of cars in Norway, with around 170 electric-powered models available. The country’s strategy is being seen as a framework for other nations seeking to transition away from fossil fuels.

The US eliminated electron deserts

Electric vehicle range anxiety was put to rest for many drivers in the US in 2024. In the first nine months of the year, the number of fast-charging stations in the country surged by 35%. There are now about 9,000 public sites in the US with much of the infrastructure built in rural areas.

… And rolled out its first electric school buses

A squadron of shiny yellow electric school buses in Oakland, California were the first to serve a major US school district. Now the vehicles’ large batteries can also supply electricity to the Bay Area power grid.

Australia made EVs more attainable

Australia’s government began funding cheap loans to help low-income workers buy electric vehicles in a bid to kickstart slumping sales of battery-powered cars. The IOUs can be used to purchase new or used EVs worth as much as A$55,000.

Policy

Biden’s climate law isn’t all lost

US climate policies are now in question under the Trump administration. Yet this year we learned there are some significant portions of President Joe Biden’s landmark climate law, the Inflation Reduction Act, that will be resilient to the change. Ten-year tax credits to drive investment in clean energy manufacturing are most likely safe. Also, most of the IRA’s climate funding has gone out the door already.

US climate action had local successes

Voters in a number of US cities backed measures to invest in improving public transit. Washington state voted to keep the state’s cap-and-trade program. Californians said yes at the ballot box to support $10 billion of funding for climate resilience. A commercial food waste ban introduced in Massachusetts in 2014, meanwhile, led to a 7% average annual reduction in landfilled and incinerated waste in its first five years of implementation.

Amazon deforestation slowed under Lula

Brazilian President Luiz Inácio Lula da Silva’s promised to get tough on deforestation in the Amazon when he took office at the start of 2023. Early results are promising. Last year the country cut deforestation by 50%, according to government data. This year, it’s dropped a significant amount again, according to Marina Silva, Brazil’s environment minister and top climate diplomat.

Litigation

Older generations stepped up the climate fight

A group of elderly Swiss women won a historic verdict in April. The European Court of Human Rights ruled that the “Swiss Confederation had failed to comply with its duties” concerning climate change and violated the plaintiffs’ rights to respect for private and family life. In the US and UK, a growing number of retirees are playing a major role in protesting fossil fuel expansion and exhorting their contemporaries to vote with the climate in mind.

Solutions

Water was created out of thin air

Startups made new improvements on a technology that can draw water out of the driest skies. Metallic organic frameworks (MOFs) don’t require electricity and can produce H2O with just ambient sunlight.

Cities built up their climate resilience

While the world is still trying to stop global warming from getting worse, many cities prepared for the impacts already being felt. Among the projects happening: Beira, Mozambique is deploying a cyclone warning system; Boulder, Colorado, is becoming a fortress against wildfires; Frankfurt is capturing airflow to stay cool. Nairobi even figured out how to use trash-eating flies to tame dangerous floods.

(By Siobhan Wagner)

The National Emergency Management Agency of Mongolia has launched a campaign to encourage every citizen to install the location-identifying What3Words application on their mobile phones. As part of this effort, the app has been installed and implemented for use on the mobile phones of 636,876 Mongolian citizens across 21 aimags of Mongolia.

Citizens, herders, and transporters are advised to regularly follow weather forecasts and updates, ensure proper preparation and readiness of their equipment and personal resources, and take preventive measures against potential risks.

In the event of potential dangers or emergencies, individuals can provide their location using a 3-word address via the What3Words application. Depending on their mobile device, users can download and use the application from the Play Store or App Store.

If a caller providing information or making a report cannot identify their location or provide coordinates, the caller can use the What3Words application on their smartphone, whether connected to the internet or not. By sharing their 3-word address, the precise location of the report can be determined, ensuring prompt and efficient response without delays.

On December 24, 2024, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai received Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Mongolia Shen Minjuan and Assistant General Manager of “China Energy” Group Kang Fengwei.

At the meeting, the two sides exchanged views on the Gashuunsukhait-Gantsmod Cross-Border Railway Project. The Government of the People’s Republic of China officially expressed its readiness to resolve the issue concerning the Gashuunsukhait-Gantsmod Cross-Border Railway Project through an international agreement between the Governments of the two countries. The Gashuunsukhait-Gantsmod Cross-Border Railway Project has been under discussion since 2009, and after 16 years of stagnation, the Project gained momentum on November 5, 2024. During Prime Minister L. Oyun-Erdene's official visit to China on November 5, 2024, the two sides signed an Agreement on the Joint Construction of a Cross-Border Railway Bridge at the Gasuunsukhait-Gantsmod Border.

The successful implementation of the Gashuunsukhait-Gantsmod Cross-Border Project would create favorable conditions for the realization of other railway projects, such as the Khangi-Mandal, Shiveekhuren-Sekhe, and Bichigt-Zuunkhatavch. Moreover, the Project could potentially increase Mongolia’s coal exports to 120 million tons and boost the country’s GDP per capita to USD 10 thousand.

Bogd Bank with its continued efforts to empowering SMEs, in particular women-led businesses, and green initiatives and FMO with the mission to increase inclusive and sustainable prosperity, have started their cooperation by signing a USD 20 million term facility agreement.

Out of the USD 20 million facility, minimum of thirty percent of the facility will be dedicated toward green projects, while seventy percent will go towards the agriculture, youth, and women SMEs in Mongolia.

"Bogd Bank is committed to supporting MSMEs, empowering women-led businesses, and promoting sustainable green initiatives across Mongolia. Collaborating with an organization like FMO, which shares our goal of driving Mongolia's economic growth through meaningful financing, aligns seamlessly with our core mission. We are excited to commence this cooperation with FMO and firmly believe it will pave the way for a successful and lasting partnership,” stated Saruul Ganbaatar, Chief Executive Officer of Bogd Bank.

"We are thrilled to begin our partnership with Bogd Bank in Mongolia, supporting their mission to enhance financial inclusion and promote green finance,” said Juan Jose Dada Ortiz, Director Financial Institutions at FMO. “This collaboration reflects our shared commitment to driving sustainable development and addressing climate challenges, contributing to impactful progress on reducing inequalities and reaching underserved SMEs. FMO is proud to work with Bogd Bank and is confident that is marks the beginning of a long-term collaboration.”

Bogd Bank since its establishment in 2014, has provided financing to almost 12,500 borrowers of various sectors through its 17 branches and over 240 employees. With endless efforts put towards the SMEs and green sector, more than third of the loan portfolio consists of SMEs, with unchanging focus on the women-led businesses and the green sector. In 2021, Bogd Bank became the first publicly listed bank on the Mongolian Stock Exchange.

FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness, Food & Water, Energy, and Financial Institutions. With a total committed portfolio of EUR ~13 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally.

The International Monetary Fund (IMF) advises that the Central Bank of Mongolia can successfully combat inflation and maintain stable economic growth by working independently in collaboration with the government.

The Bank of Mongolia has announced plans to focus on enhancing its independence and implementing legal reforms. International organizations and economists have highlighted that the current system lacks sufficient operational autonomy for the central bank, with significant fiscal influence on monetary policy posing a key weakness in Mongolia's system.

The Bank of Mongolia reiterated its intention to prioritize its independence and pursue necessary legal reforms.

In some countries, their constitutions explicitly include central banks as part of state institutions. However, Mongolia's current legal framework does not contain such provisions. Researchers believe that incorporating the powers and responsibilities of the central bank into the constitution would create a legal foundation for implementing monetary policy independently and in alignment with national interests.

Translated by ChatGPT

More than 60 percent of Mongolia's territory is currently covered by snow, the National Agency for Meteorology and Environmental Monitoring reported on Monday.

"At least 64 percent of Mongolia's territory is now blanketed by snow," the weather agency said, adding that as of Monday morning, snowfall is ongoing in five of the country's all 21 provinces.

Mongolia is renowned for its harsh winters, which are heavily influenced by the Siberian high-pressure system.

Last winter brought the heaviest snowfall in the country in five decades, leading to a severe dzud that resulted in the loss of millions of livestock.

Dzud is a Mongolian term referring to a huge lost of livestock due to frozen or snow-covered ground during a harsh winter.

This winter, most parts of the Asian country are forecast to experience colder temperatures than the long-term average, according to the weather agency.

In commemoration of the centennial of the establishment of the modern banking system in Mongolia, the Central Bank of Mongolia hosted an Academic Conference under the theme “Objectives, Governance, Operational Directions, and Legal Reforms of the Central Bank of Mongolia” on December 23, 2024.

During the Conference, different governance models were introduced using the examples of the Monetary Policy Committee and the Supervisory Committee. Also, the Conference discussed and presented the results of the Best Paper Competition among university students following the International Finance Conference held in July 2024. More than 30 reports were submitted for the Competition, touching on topics, such as the Central Bank's operations, legal regulation, governance, independence, legal reforms, and economic conditions.

Furthermore, scholars, experts, and students from universities, and financial and legal institutions, including the Supreme Court of Mongolia, the School of Law at the National University of Mongolia, and the University of Finance and Economics, discussed digital transformation, artificial intelligence, and its development. Specifically, the attendees were engaged in presentations on “How the Operations of the Central Bank of Mongolia Affect the Country's Economy” and “Impact of Fluctuations in Exchange Rates on Electoral Cycles.”

In his presentation on “The Impact of Legally Binding Decisions Made by the Central Bank of Mongolia on Private Legal Relations,” Lawyer, Dr. S. Enkhbayar emphasized that the legal foundation for the Central Bank’s operations plays a crucial role in its effectiveness. Mr. Enkhbayar also highlighted that having the Central Bank’s operations regulated by the Constitution ensures a strong legal foundation. Although the Central Bank’s legal framework is not explicitly enshrined in the Constitution of Mongolia, its functions are specified in the National Security Concept. Mr. Enkhbayar cited international examples where the Central Bank’s operations are independent of government control, enshrined in constitutional law, and legally protected. He further emphasized that according to Article 4, Section 4.2 of the Law of Mongolia on Central Bank, one of the key responsibilities of the Central Bank is ensuring the financial stability of commercial banks.

The presentations were discussed and judged in two categories: researchers and students. As a result, 11 research were selected for the Best Paper.

The “Khushigiin Khundii Airport” State Owned Limited Liability Company of Mongolia, Narita International Airport Corporation of Japan, and the Japan Airport Terminal Co., Ltd. signed a Memorandum of Understanding on Cooperation on December 20, 2024.

The three parties will jointly organize training to improve the professional skills and service quality of employees of Chinggis Khaan International Airport of Mongolia. As Tsenguuun Lamjav, Chief Executive Officer of “Khushigiin Khundii Airport” State Owned Limited Liability Company of Mongolia, clarified, Chinggis Khaan International Airport of Mongolia has undergone an audit by Skytrax, an international organization that rates airlines and airports worldwide, and has been awarded a 4-star rating. Moreover, this year, the Airport welcomed its 2 millionth passenger. In essence, the Chinggis Khaan International Airport's capacity for passenger handling and service quality has reached international standards. To maintain this level, continue our successes, and further improve, we have decided to learn from the advanced management, best practices, and know-how of Narita and Haneda airports, two of Japan's world-renowned top 10 airports.

As part of the collaboration, there will be an exchange program involving the transfer of Narita Airport staff to Mongolia and the provision of both long-term and short-term training in Japan for employees of Chinggis Khaan International Airport.

In his speech at the Signing Ceremony, Igawahara Masaru, the Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia, said, “It is worth mentioning that the two shareholder companies of Chinggis Khaan International Airport of Mongolia, constructed with a soft loan from the Government of Japan, are actively working towards improving the airport's operations. I would like to express my satisfaction that the number of passengers this year has exceeded expectations, reaching two million, which is comparable to international airports such as Osaka, Frankfurt, and Paris.”

As of November 30, 2024, Chinggis Khaan International Airport has served 1,633,770 foreign and Mongolian passengers, and 389,627 domestic passengers, totaling 2,023,397 passengers. Having served over 2 million passengers in a single year marks a milestone in Mongolia's civil aviation history.