Uchral Nyam-Osor: Economic Immunity Must Be Outcome of Long-Term Intelligent Policy www.montsame.mn

Ahead of the Mongolia Economic Forum, “MEF Youth 2025” event was held on July 6, 2025.
This event, under the motto “Rebuilding Trust” was an open discussion on current economic challenges, future opportunities, and the participation of youth, gathering together more than 3,000 youth and sector experts.
Deputy Prime Minister and Minister of Economy and Development Uchral Nyam-Osor attended the event and addressed the youth, noting, "Economic immunity cannot be attained through short-term measures, but must instead be the outcome of long-term intelligent policy. Currently, the K-pop industry of the Republic of Korea contributes USD 50 billion to its national economy. A single concert by the group BTS generates USD 900 million in revenue, which is equivalent to 4–5 percent of Mongolia’s GDP. In 2025, the Los Angeles Lakers team was sold for USD 10 billion—an amount equal to approximately 45–50 percent of Mongolia’s GDP. In the same way, the talents and aspirations of Mongolian youth can be transformed into valuable contributions to the economy.”
The Ministry of Economy and Development is implementing a consistent policy aimed at supporting sectors driven by youth skills and innovation. This includes culture and the arts, sports, technology, agriculture, creative industries, the digital economy, and startups. Furthermore, the Government is undertaking reforms to eliminate barriers and restrictions in the form of “permission” faced by entrepreneurs, and create opportunities to compete in the international market, underscored the Deputy Minister.

Mongolia Hosts Asia-Pacific Air Transport Facilitation Forum www.montsame.mn

The Government of Mongolia, in cooperation with the International Civil Aviation Organization (ICAO), is hosting the Asia-Pacific Air Transport Facilitation Forum for the first time.
This forum is notable for coinciding with the 75th anniversary of the adoption of Annex 9 to the Chicago Convention and the 100th anniversary of the development of civil aviation in Mongolia. More than 120 delegates from 39 countries are participating, discussing topics such as strengthening national air transport facilitation programs and committees, deepening border and customs control and regional cooperation, and implementing the Public Key Directory (PKD), passenger information systems (API, PNR), and the UN CT TRAVEL program, as well as the introduction of artificial intelligence, automation, and new border-crossing technologies to support a safe, efficient, and integrated air transport system. The event also aims to exchange information and experience, address challenges and solutions, and strengthen cooperation.
Director of the Monitoring, Evaluation, and Internal Audit Department of the Civil Aviation Authority of Mongolia S. Munkhnasan, stated, “Since 2021, our country has been operating a new international airport with the capacity of receiving up to three million passengers annually. In 2024, we served a total of 2.2 million passengers, while in the first six months of 2025, this figure has increased by 13 percent. According to international organizations, global air passenger flow is projected to increase by 86 percent by 2040. This forum focuses on how to meet and accommodate that growth. In recent years, international airports have introduced self-service registration as well as advanced technology equipment to conduct health screenings of passengers remotely. Behind these actions lies the aim of ensuring air transport safety. Our country is also working to facilitate air transport services, especially border and customs operations.”
During this forum, the countries are discussing cooperation to share information between relevant organizations more easily and rapidly., Regional Director for the Asia-Pacific Office of the International Civil Aviation Organization Ma Tao emphasized that facilitating air transport could prevent the production and illegal use of counterfeit passports, as well as human trafficking and migration-related issues.
The “Asia-Pacific Air Transport Facilitation” forum will continue until July 8 of this month.

TMK Energy Signs Drilling Contract for LF-07 Production Well in Mongolia www.tipranks.com

TMK Energy Limited ( TMK) ) just unveiled an announcement.
TMK Energy Limited has signed a drilling contract with Major Drilling Group to drill the LF-07 production well at its Pilot Well Project in Mongolia. This marks a significant milestone for the company as it aims to enhance its gas production capabilities and gather valuable data for future exploration. The planned 2025 drilling program includes one additional pilot production well and up to five exploration wells, which will help TMK Energy meet its work program commitments and potentially increase its contingent resources.
More about TMK Energy Limited
TMK Energy Limited is an energy company focused on the exploration and development of coal seam gas projects. The company’s primary operations are centered around the Gurvantes XXXV Coal Seam Gas Project in Mongolia, where it aims to establish commercial gas flows from its pilot well projects.

Japan Emperor, Empress Arrive in Mongolia www.nippon.com

Japanese Emperor Naruhito and Empress Masako on Sunday arrived in Mongolia for a weeklong official visit as state guests.
They became the first reigning Emperor and Empress to visit Mongolia. The Emperor visited the country in 2007 when he was Crown Prince.
A Japanese government plane carrying the Imperial couple left Tokyo's Haneda Airport earlier in the day and arrived at Chinggis Khaan International Airport near the Mongolian capital of Ulaanbaatar after a flight of about five hours.
Ahead of their departure, the Emperor and Empress greeted Crown Prince Akishino, Crown Princess Kiko and others who were at the Tokyo airport to see the Imperial couple off.
At the Mongolian airport, as the Emperor and Empress stepped off the ramp of the plane, women in traditional costume offered "aaruul," a traditional Mongolian snack made from milk, for them to taste. After also receiving bouquets of red flowers, the Imperial couple shook hands with Mongolian Foreign Minister Batmunkh Battsetseg, who was there to welcome them, and then proceeded down a red carpet, lined on both sides by honor guards, before getting into a car.
[Copyright The Jiji Press, Ltd.]

KFAED supports Mongolia airport expansion www.kuwaittimes.com

The Kuwait Fund for Arab Economic Development (KFAED) has contributed to the development and expansion of Undurkhaan Airport in Mongolia, marking a new milestone in the growing partnership between Kuwait and Mongolia. In a statement issued Friday, KFAED Acting Director General Waleed Al-Bahar said the project was financed through a grant previously extended by the Government of Kuwait to Mongolia under the Fund’s supervision, valued at KD 1.06 million (approximately $3.4 million).
Al-Bahar noted that the Fund also signed an additional grant agreement worth KD 80,000 (approximately $262,000) with the Mongolian government to finance the technical and economic feasibility study for the project. The objective, he said, is to transform the airport into a Category 4C international facility that would serve as a catalyst for economic growth and align with Mongolia’s Vision 2050 sustainable development strategy. “The airport expansion project is expected to become a critical transport hub, facilitating mobility, boosting trade, and unlocking new economic opportunities for the region,” Al-Bahar stated. “It will contribute significantly to long-term development and prosperity in Mongolia.”
The opening ceremony was attended by Mongolia’s Minister of Roads and Transport Delgier Saikhan, Kuwait’s Ambassador to Mongolia Mutlaq Al-Thuwaimer, and several senior Mongolian officials. To date, KFAED has provided Mongolia with soft loans totaling KD 23.7 million (approximately $77.6 million), in addition to technical assistance worth KD 519,000 (approximately $1.7 million), reaffirming Kuwait’s commitment to supporting sustainable development across Asia. — KUNA

Diplomatic ties established with all UN Member States www.ubpost.mn

Mongolia has officially completed its long-term foreign policy goal of establishing diplomatic relations with all 192 member states of the United Nations, marking a historic milestone in the country’s diplomatic history.
The announcement follows the parliament’s approval on July 4 of four resolutions on the establishment of diplomatic relations with the Kingdom of Eswatini, Barbados, the Republic of Trinidad and Tobago, and the Republic of Botswana, the final group of UN member states with which Mongolia had yet to formalize diplomatic ties.
This achievement stems from a 2013 decision by the Standing Committee on Security and Foreign Policy to pursue diplomatic relations with all UN members, aligning with Mongolia’s National Security Concept and Foreign Policy Concept. The move underscores Mongolia's commitment to a peace-loving, open, independent, and multi-pillar foreign policy.
At a plenary session of the parliament on July 4, Foreign Minister B.Battsetseg introduced the resolutions, noting that the final step in a multi-year diplomatic effort had been reached. Between 2013 and 2018, Mongolia successfully established relations with 25 states. More recently, Joint Agreements were signed with Eswatini in 2018, Barbados in 2019, Trinidad and Tobago in 2021, and Botswana in 2023. These agreements were backed by relevant discussions at the Standing Committee on July 1, where the majority of members supported the resolutions.
B.Battsetseg emphasized that Mongolia’s expanded diplomatic footprint provides new opportunities to advance shared interests through multilateral platforms such as the United Nations and the World Trade Organization (WTO). It also enhances Mongolia’s global voice on key issues such as the rights of landlocked developing countries, climate action, and sustainable development.
During the parliamentary session, MPs reflected on the significance of partnerships with small yet globally engaged states like Barbados, a Caribbean island with a strong tourism economy and vibrant international role. MP G.Luvsanjamts highlighted Barbados’s impressive GDP, tourism development, and policy success, suggesting Mongolia could learn from its experience.
For Eswatini, Trinidad and Tobago, and Botswana, lawmakers and officials noted shared priorities in trade, landlocked development challenges, natural resource management, and regional stability. These new partnerships also support Mongolia’s aim to diversify foreign relations geographically and economically.
It was reported that Mongolia is now among a select number of countries that have established diplomatic relations with every UN member state, a significant diplomatic feat.  The minister concluded that the achievement represents not just a diplomatic accomplishment, but a testament to Mongolia’s proactive role in the international community and its ability to maintain balanced and cooperative relations across diverse regions. This diplomatic milestone is expected to lead to broader collaboration in trade, tourism, environmental protection, and multilateral diplomacy. Officials indicated that talks on cooperation frameworks, including information exchange and policy coordination, are already underway with the newly partnered states.

Mongolia Transports Coal to China by Rail and Road until Cross-Border Railway Completion www.montsame.mn

Under the Agreement between the Government of Mongolia and the Government of the People's Republic of China on Cooperation in the Gashuunsukhait-Gantsmod Cross-Border Railway, Coal Trade, and Expanding the Capacity of the Tavan Tolgoi Coal Mine, Mongolian Railway State-Owned Joint Stock Company signed a Long-Term Coal Transport Agreement with China Coking Coal Energy (Tianjin) Company, a subsidiary of China Energy Investment Corporation on May 14, 2025, and coal transport officially launched this June.
A delegation led by Minister of Road and Transport Delgersaikhan Borkhuu visited the headquarters of China Energy Group on July 3, 2025, and met with its senior officials to discuss the implementation of the Long-Term Coal Transport Agreement and exchange views on ensuring timely and planned coal transport.
At the meeting, the Chinese side noted that they have so far received 30,000 tons of coal at Tavantolgoi station. “As work has just begun, there are issues requiring prompt solutions from both sides, including a one to two-day delay in coal transport and restricted vehicle access to the mine, which causes interruptions. This may result in delays in meeting transport schedules.”
Under the Long-Term Coal Transport Agreement, Mongolia is expected to transport 247 million tons of coal over 16 years, contributing significantly to the national economy with projected revenue of USD 3.7 billion in current value.
The Ministry of Road and Transport has launched construction of the Gashuunsukhait-Gantsmod cross-border railway to complete it within 700 days. During the construction period, the coal will be transported using a combination of rail and road.
In compliance with the Long-Term Coal Transport Agreement, Mongolian Railway, the transport operator, should transport five million tons of coal this year, requiring an average of over 800,000 tons per month. To fulfill this, nine trains with 58 wagons and 260 tracks are transporting the coal.
Additionally, China Energy International plans to send 30 percent of the workforce this year and establish a company in Mongolia within this month.

MiningWeek & MinePro 2025: “Mining Momentum in Mongolia: Driving Progress and Responsibility www.montsame.mn

Mongolian National Mining Association (MNMA) has announced that the People’s Republic of China will be the Focus Country for MiningWeek & MinePro 2025.
MiningWeek & MinePro 2025, an international conference and exhibition will take place on September 11-13, 2025, in Ulaanbaatar, Mongolia.
Under the theme “Mining Momentum in Mongolia: Driving Progress and Responsibility,” this international conference and exhibition will emphasize high-impact cross-border partnerships, responsible mining, and investment opportunities aimed at sustainable growth.
As the world’s largest consumer of minerals and one of Mongolia’s most significant economic partners, China plays a central role in transforming the global mining industry. The People’s Republic of China is a key player in:
Driving Global Demand & Investment: China leads the world in mining investment and infrastructure development, promoting long-term cooperation in critical mineral supply chains, technological advancements, and sustainable infrastructure projects throughout the region.
Advancing Green & Smart Mining Technologies: China is a global leader in green mining technologies and the transition to smart, environmentally responsible mining practices, setting the global standard for sustainability.
Enhancing Regional Connectivity & Prosperity: Through strategic initiatives that strengthen trade routes, foster cross-border infrastructure, and expand economic cooperation, China plays a vital role in driving regional growth and supporting the continued success of Mongolia’s mining sector.
MiningWeek & MinePro 2025 will bring together public and private sector leaders, institutional investors, mining operators, and technology innovators from around the globe, offering unique opportunities for long-term collaboration and shared prosperity, reported MNMA.

Dalai Lama celebrates 90th birthday with followers in north Indian town www.aljazeera.com

How Trump's tariff chaos could reshape Asia's businesses www.bbc.com

Tan Yew Kong, who works at one of the world's largest chipmakers, says his company is like a tailor's shop - it customises chips to meet client's needs.
"We provide the fabric, we provide the cufflinks and everything. You tell us what you like, what design you like and we make it for you," says Mr Tan, who runs GlobalFoundries' operations in Singapore.
Nowadays, the firm is also customising its future to accommodate US President Donald Trump's unpredictable tariff policy.
Businesses and countries have been offering to appease Washington ahead of 9 July, when the 90-day pause on Trump's steep "Liberation Day" tariffs ends. And yet again, it's unclear what happens next.
The president said on Friday that the US government is to start sending out letters with details of higher tariff rates that will take effect on 1 August.
He said as many as 12 letters will be sent out over the coming days and the levies will range from "60% or 70% tariffs to 10 to 20% tariffs" but did not name the countries due to receive them.
So far, semiconductors are exempt from tariffs but Trump has threatened levies on them several times, and that uncertainty is making it near impossible for businesses to plan for the future.
Also last week Bloomberg reported the White House is planning to further tighten controls over artificial intelligence (AI) chips by restricting shipments to Malaysia and Thailand to crack down on suspected smuggling of the technology to China.
The US Commerce Department did not immediately respond to a BBC request for comment.
You cannot "flip the switch every other alternate week or day. That makes it very difficult for businesses to plan long term", Mr Tan says.
US-headquartered GlobalFoundries is contracted by some of the world's biggest semiconductor designers and manufacturers - AMD, Broadcom, Qualcomm - to make their chips.
Its factories are spread across the world, with many in Asia, from India to South Korea. It recently announced plans to increase its investments to $16bn (£11.7bn) as demand for artificial intelligence (AI) hardware skyrockets.
To protect that sprawling footprint, the company has also pledged to work with the Trump administration to move parts of its chip manufacturing and supply chain to US soil.
Chip manufacturers, textile producers and car industry suppliers - whose tightly-knit supply chains run through Asia - are rushing to fulfil orders, cut costs and find new customers as they navigate a market in turmoil.
"Businesses need to rethink buffers, increasing their inventory and lead times to account for volatility," said Aparna Bharadwaj of Boston Consulting Group. She adds this could create new opportunities, but also impact their competitiveness and market share in certain countries. In other words, it's hard to say.
"Uncertainty is the new normal."
Winners and losers
When Trump announced levies in April against much of the world, some of the steepest rates were aimed at Asian economies - from long-time allies Japan (24%) and South Korea (25%) to major trading partner Vietnam (46%).
He then hit pause soon after, lowering tariffs on most countries to 10% for the next 90 days. Still the higher rates could return as early as Wednesday.
Trump promised 90 deals in 90 days after his "Liberation Day" tariffs announcement
Malaysia's prime minister has said tariffs will adversely affect many industries, including textiles, furniture, rubber and plastics. Singapore will be subject to a 10% levy despite having a free trade deal with the US - the prime minister said these are "not actions one does to a friend".
South East Asian countries accounted for 7.2% of global GDP in 2024. So the extra costs that come with tariffs could have severe, long-lasting effects.
In the region only Vietnam has managed to strike a deal so far - US imports from there will now face 20% tariffs, while US exports to Hanoi will face no levies.
Japan and South Korea have been pursuing trade negotiations during the pause, although Trump has threatened Tokyo with an even higher rate - up to 35% - as the deadline looms.
Japanese car makers could be amongst the worst hit. Companies including Mazda have said they are in survival mode because of the time and lengthy processes involved in changing suppliers and adapting their business.
Australia, despite being a key security ally and importing more US goods than it exports, has said it has been telling Washington the rate on it "should be zero".
Indonesia and Thailand have offered to buy more American products and reduce taxes on US imports.
Poorer countries like Cambodia, which have limited bargaining power, face a staggering 49% tariff but cannot afford to buy more US goods.
"Asian economies are reliant on both China and the US... they sort of sit at the heart of the global supply chain," said Pushan Dutt, professor of economics and political science at INSEAD.
"If there are shifts in this global supply chain, if there are shifts in trading patterns, it is going to be much more difficult for them."
He adds that countries with big domestic demand like India may be insulated from trade shocks, but economies that are more reliant on exports - like Singapore, Vietnam and even China - will see a major impact.
A new world order?
In the years after Trump was first elected, Singapore and Malaysia invested in growth industries like chip manufacturing and data centres.
It was partly about so-called friend-shoring – where companies make goods in countries that have good relations with the US. Asian economies also benefited from a "China + 1" supply chain strategy, which involved firms diversifying supply chains beyond China and Taiwan to South East Asian countries.
All of this was to be able to continue reaching the US, which Ms Bharadwaj says is "a critical market for many".
"No matter what happens with tariffs, the US remains an important customer for many Asian businesses," she adds. "It's the largest world economy and has a dynamic consumer base."
Beyond the South East Asian producers, Trump's tariffs also raise costs for American companies that have been operating in the region for decades.
The clothing and footwear industry stands to suffer - brands like Nike have long outsourced manufacturing to countries like Vietnam and Indonesia.
Some US brands have already said they'll need to pass costs onto customers because tariffs make the price of imported goods significantly higher.
Experts say foreign investments could shift from Vietnam, Laos and Cambodia to countries with lower tariffs, like the Philippines, Singapore, Malaysia and Indonesia.
Businesses may also look for new customers - with the European Union, the Middle East and Latin America emerging as alternative markets.
"We are no longer doing globalisation but more of a regionalisation," said Mr Tan of GlobalFoundries. "Find a place that we feel safe. We feel that the supply will be continued. And people will have to get used to the fact that it is not as cheap as it used to be."
Just as Asia's trade alliances shift, the US has emerged as an increasingly unreliable partner.
"This has actually created a massive opportunity for China to become, sort of, guardian of the world trading order," Prof Dutt says.
The US-Vietnam deal is only the third announced so far, after agreements with the UK and China. Until more happen, businesses and economies in Asia may have to forge a new path.
"As the US and others embrace increased protectionism, Asia is moving in the opposite direction, as pro-business governments are increasing trade openness," Ms Bharadwaj says.
"Tariffs are accelerating two macro trends: slowing of trade between China and the West, and accelerating trade between China... and emerging Asian countries."
Trump's policies have created trade turmoil that could transform the global economic order, and the US may not necessarily come out as the winner.
Prof Dutt sums up what is happening in the words of an old proverb: "Bow to the ruler, and then go your own way."