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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Events

Events

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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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Time deposits in foreign currency rise by 40.6 percent from last year www.montsame.mn

Ulaanbaatar/MONTSAME/. The national currency in circulation reached MNT 947.7 billion at the end of November 2020, decreased by MNT 12.1 billion (1.3%) from the previous month, but increased by MNT 87.5 billion (10.2%) from the same period of the previous year.
At the end of November 2020, the time deposit in domestic currency was MNT 12.4 trillion, increased by MNT 330.5 billion (2.7%) from the previous month, and increased by MNT 1.7 trillion (15.7%) from the same period of the previous year.
In the total time deposit in domestic currency, 89.5% (MNT 11.1 trillion) were deposits of individuals and 10.5% (MNT 1.3 trillion) were deposits of enterprises.
The time deposits in foreign currency was MNT 4.8 trillion, decreased by MNT 82.4 billion (1.7%) from the previous month, but increased by MNT 1.5 trillion (46.0%) from the same period of the previous year.
Source: National Statistics Office
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Statement by Khaltmaagiin Battulga, President of Mongolia at the Climate Ambition Summit www.president.mn

Distinguished Delegates, Ladies and Gentlemen,
I wish to extend my sincere appreciation to the UN Secretary General Antonio Guterres, Prime Minister Boris Johnson and President Emmanuel Macron for initiating and organizing this summit in these difficult times of global pandemic.
As the pandemic is sweeping all over the world, there is a need to call more attention to climate change and take decisive and strong action to mitigate its negative impacts.
Developing solutions to combat and overcome climate change is the most pressing issue for Mongolia owing to its harsh continental weather and nomadic pastoralism.
Therefore, the Government of Mongolia approved its Nationally Determined Contribution (NDC), which incorporates targets to reduce greenhouse gas emissions identifying risks of all the sectors of the economy and all the walks of life and submitted the NDC to the Secretariat of the UN Framework Convention on Climate Change. In this document, the mitigation target was re-calculated from 14% to 22.7% in total national greenhouse emissions. Moreover, it is my great pleasure to announce that it is possible to further increase our commitment to 27.2%.
Mongolia developed a specific action plan to achieve its “determined contribution” target and is planning to carry out concrete measures. The implementation of some measures has been started given the time constraints. Namely, all the feasibility studies on the construction of a 1,000 km irrigation pipeline to the Gobi region, which is under threat of rapid desertification due to climate change, have been completed and it is ready to start the construction.
We, Mongols, are ready to mobilize all our resources because efforts and diligence from the whole of humanity is crucial to save Mother Earth, slow the pace of global warming and combat adverse effects of climate change.
Thank you for your attention.
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“Investing in Mongolia’s Productive Agribusiness Sector” www.exportmongolia.org

Mongolia welcomes all investors, businesses, buyers and partners to join in the Webinar named “Investing in Mongolia’s Productive Agribusiness Sector” and pre-scheduled B2B meetings on 15-16 December 2020.
 The Webinar is –– Your opportunity to understand more about key investment agribusiness opportunities – including meat, dairy, leather and cashmere – as well as the processes and incentives for investing in Mongolia. 15 December 2020 / 14:00-15:30 ULAT
 The Webinar will follow the B2B Meeting (15-16 December 2020) – will give you the opportunity to explore more about the Mongolian prospective investment seeking projects such as
 Cashmere & textile,
 Leather,
 Industrial and Agricultural Parks,
 Food & Beverages (honey, meat, milk, oil plant, water),
 Animal Husbandry
 Fishery
 Health (beauty)
 Others (construction & brokerage)
Please pre-schedule your meeting time with Mongolian investment seeking project owners through https://www.expomongolia.org/12/b2b
“Export Mongolia 2020” International virtual forum & exhibition https://www.youtube.com/watch?v=Miw8VoRDfvI&feature=youtu.be
Guideline to register to the webinar and B2B meetings https://www.youtube.com/watch?v=ww5iG1Z5Gwo&feature=youtu.be
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Beer-ban to end in UB – but woe for vodka drinkers! www.news.mn

The Emergency Commission of Ulaanbaatar City has decided to lift the bans on the sale and consumption bans of alcoholic beverages. The relaxation comes into force from Monday (14 December); on the same day, the public emergency situation will be partially relaxed. Therefore, the residents of Ulaanbaatar can enjoy beers and wines; however, strong alcoholic beverages such as vodka and whisky remain banned.
With the lifting of the ban, supermarkets, minimarts, cafes, restaurants, hypermarkets and food markets will re-open from 07:00 a.m. until 9:00 p.m.
During the period of the alcohol ban, four people died of alcohol poisoning after drinking technical spirit.
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Another Mongolian Grand Champion obtains Japanese citizenship www.news.mn

Sumo grand champion Kakuryu, winner of six top division titles, has given up his Mongolian nationality and acquired Japanese citizenship, an official government publication showed Thursday.
By meeting the requirement to remain in the Japan Sumo Association as an senior-citizenafter retirement, the 35-year-old will now be able to run his own stable of wrestlers after his active career has ended. Although Japanese nationality is not required to compete in sumo, citizenship is necessary if a wrestler wishes to progress to become a sumo elder upon retirement and establish or inherit a sumo stable.
Kakuryu is the fourth foreign-born yokozunato obtain Japanese citizenship after retired U.S.-born wrestlers Akebono and Musashimaru, and Mongolian-born Hakuho, a still-active competitor, who became a Japanese citizen last year.
Kakuryu fought out of the Izutsu stable when he started his sumo career in 2001. He was promoted to the highest rank of yokozuna in the spring of 2014.
Upon the death of the Izutsu oyakata and closure of the Izutsu stable in September 2019, he moved to the Michinoku stable. Last month, he was given a “warning” by the Yokozuna Deliberation Council after sitting out the last three tournaments due to injury.
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Mongolia issues commemorative coin marking anniversary of ancient capital www.news.mn

Mongolia’s Central Bank issued a silver coin on Wednesday to commemorate the 800th anniversary of the establishment of Karakorum, the country’s ancient capital.
The commemorative coin, which is 50 millimeters in diameter, contains 2 ounces (56.7 grams) of 999 sterling silver, the Bank of Mongolia said in a statement.
The 5,000-tugrik (1.75 U.S. dollars) coin is available at the Treasury Fund of the Central Bank at a cost of 600,000 tugriks (210 U.S. dollars) per piece.
The ruins of Karakorum lie in the northwestern corner of Uvurkhangai Province of Mongolia, near today’s town of Kharkhorin and adjacent to the Erdene Zuu Monastery, a surviving Buddhist monastery. Famously described in his travels by Marco Polo, the new capital was established by Kublai Khaan, the grandson of Chinngis Khaan.
They are part of the upper part of Orkhon Valley, a world heritage site of the United Nations Educational, Scientific and Cultural Organisation.
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Mongolia writes off utility costs for households to buffer COVID-19 impact www.xinhuanet.com

Mongolia on Sunday decided to write off payments of water, heat, electricity and waste for households and organizations across the country amid the COVID-19 pandemic.
With exceptions of governmental organizations, state and local owned entities, mining companies, wholesalers, retailers, and alcohol or tobacco producers, the decision comes into effect from Dec. 1 to July 1, 2021, said Prime Minister Ukhnaa Khurelsukh at a press conference after an irregular government meeting.
Erdenet Mining Corporation, one of the biggest state-owned enterprises, is expected to pay for about 650 billion Mongolian Tugriks (228 million U.S. dollars) needed to implement this decision, said Khurelsukh.
More than 890,000 households and 123,800 organizations can benefit from the write-off, according to official data.
In addition, Mongolia decided to cut the price of processed fuel by 75 percent during the period to support the livelihoods in ger areas of the capital city Ulan Bator. Earlier, it had reduced the price by 50 percent.
About 220,000 households live in Ulan Bator's ger districts, with no running water, central heating or sewerage systems.
As of Sunday, Mongolia has reported 907 COVID-19 cases, including 473 locally transmitted cases.
The Asian country's nationwide lockdown, imposed on Nov. 12 after its first locally transmitted case, expired on Dec. 1. It has extended the restrictive measures in Ulan Bator and the provinces of Selenge and Arkhangai until Dec. 14. Enditem
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Anglo American to divest from thermal coal operations by 2023 www.mining.com

Anglo American will divest from its South African and Colombian thermal coal operations by mid-2023, the miner said on Friday.
The global miner said a de-merger and listing on the Johannesburg Stock Exchange was the most likely route for its South African thermal coal assets, which include three wholly-owned and operated mines – Goedehoop, Greenside and Khwezela.
“With the bulk of (growth) options in copper, PGMs, and now also crop nutrients, we are increasingly positioned to supply those metals and minerals that enable a cleaner, greener, more sustainable world,” Chief Executive Mark Cutifani said on Friday in an annual update to investors.
Cutifani said the company planned to exit its Cerrejon thermal coal mine in Colombia within 1 1/2 to 2 years, while the South African thermal coal exit will happen within 2 1/2 years.
Anglo American said production across all minerals will increase by 14% in 2021 and unit costs are expected to fall by 3%.
Capital expenditure would be between $5.7 billion and $6.2 billion next year, reflecting deferred 2020 spending and new investments.
“We expect to deliver sector leading volume growth of 20-25% over the next three to five years that includes first copper production from Quellaveco in 2022. We are on track to deliver our targeted $3-4 billion run-rate of incremental annual improvement by the end of 2022,” said Cutifani.
The miner said it expects to produce 890,000 to 1 million tonnes of copper in 2023. It cut its 2022 copper production forecast, though, to 680,000-790,000 tonnes, from 700,000-810,000.
Diamonds
The De Beers owner also trimmed its diamond production forecasts for the next two years, from 31-million carats in 2019 to 33-35-million carats in 2021 and 30-33-million carats in 2022. The world’s top diamond producer by value, saw rough diamond production decrease by 5% to 8.7-million carats in the quarter ended Sept. 30.
“Current diamond prices will increase pressure on producers and output will shrink unless they rally,” Cutifani said.
Jefferies analyst Christopher LaFemina told Reuters the cuts to copper and diamond forecasts were “unhelpful” considering organic growth is a unique aspect of the investment case for Anglo American.
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‘People have Mongol blood’: new film creates powerful echoes www.mongoliaweekly.org

I have a clear memory of my first experience of Mongolia. It wasn’t actually in Mongolia itself; I was in the waiting room of the Mongolian embassy in Hanoi, Vietnam.
I’d been traveling through Southeast Asia for months, and the constant rush of mopeds and people and sound was making me yearn for silence, for wide-open spaces, for cold air.
I didn’t find any of that in the waiting room. But I did find a massive photograph, stretching across a whole wall, of a white-crowned Mongolian mountain range rising from the green steppe towards dark and stormy clouds.
image from remoteland.com
I stared at the photo for a long time, swept up in its drama, before the woman behind the desk sharply told me that they’d be unable to process my visa application. (I eventually made it to Mongolia, which you can read about in my book about traveling from Australia to Switzerland without flying).
This memory resonated in my mind during the opening sequence of Robert Lieberman’s new film, Echoes of the Empire. Horses trundle across a wooden bridge, past a lake on the grasslands, and suddenly the camera rises higher to take the mighty vastness of Mongolia and paint it across the screen.
It was a powerful beginning to what turned out to be an insightful and inspirational film.
Lieberman starts by chronicling the life of Genghis Khan, from his beginnings as an outcast to his brutal conquests to his empire’s pioneering of religious freedom, women’s education, international law, diplomatic immunity, and more.
The film then draws ‘echoes’ to the modern-day. As one example, Mongolian women remain more educated than Mongolian men, who are traditionally expected to look after livestock while the women go and study.
Anecdotally, this was the practice of a Tsaatan family I once stayed with; in winter, the boys helped their fathers move the reindeer herds north while the girls stayed behind to go to school in a nearby village.
Then the film moves past Genghis and into modern nomadic life. It covers Bhankars, huge shaggy dogs that play a vital role in maintaining steppe ecosystems; the cultural importance of ‘long song’ singing and the landscape sounds of Mongolian music; the genesis of communism, its tragic effects on Mongolia’s cultural history, and its demise in 1990; Russia’s influence on Mongolian society; and more.
The film doesn’t shy away from Mongolia’s problems. It shows rising inequality in UB and the difficulties of life in the ger districts, including the notorious pollution problem and its effect on children's lungs.
But it has a hopeful note. It looks at how people are reinventing the ger to make a version that’s more suitable for city life. It speaks to the uniqueness of Mongolian democracy. It talks about art and music.
Finally, it returns to the wild places with panoramic shots that never fail to impress.
“It’s one of the only countries left in the world where you can leave the city and within half an hour, you’re in the countryside,” D. Gereltuv, the director of Mongolia Quest, says.
“You can hike anywhere you want, camp anywhere you want, live anywhere you want.”
I’m not Mongolian, but I think that freedom, that sense of being in a wild place, is the gravity that keeps me grounded to the country.
It pushed me to write about my own experience riding a motorcycle across Mongolia, living in its landscapes, its rhythms.
But maybe there’s something more.
At one point, Allen MacNeil, a biologist at Cornell, comes on screen. He talks about how an unusual marker on the human Y chromosome, which is passed unaltered from father to son, can be found right across Eurasia.
“Almost by accident, it was discovered that there’s a pattern to a particular marker,” he says. “If you overlay the map of that marker onto a map of the conquests of Genghis Khan, the maps are identical. What we’re really saying is, genes from the Mongolian ancestors have spread through all these places.
“But the folk way of saying that is: people have Mongol blood.”
Lieberman’s film is about the echoes of Mongolia’s old ways in the country’s modern life. But for me, it also creates a deeper, more primal echo - one that almost feels genetic.
Maybe it will for you too.
To view a trailer of our new film opening soon go to: “Echoes Of The Empire: Beyond Genghis Khan” https://www.echoesoftheempire.com/
by Ewen Levick
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How did Mongolia get off the money laundering watch list in record time? www.blog.adb.org

Mongolia worked with development partners and donor nations to craft a plan that pro-actively pursued policies on anti-money laundering and combating the financing of terrorism
Every year an estimated $2.6 trillion is lost to corruption worldwide. This fraudulent conduct undermines the rule of law, impedes economic development, and diverts scarce resources from schools, hospitals, and other essential services.
Developing countries in Asia are on the front line in the fight against this societal scourge. One strategy that these countries use to battle corruption is to join international agreements and adopt standards that help stanch the money that flows into and out of activities such as tax evasion, trafficking, and other crimes.
An important facet of this work relates to policies on anti-money laundering and combating the financing of terrorism, or AML/CFT. Countries ignoring these two initiatives face serious internal and external consequences, such as higher costs of doing business and of banking transactions, as well as de-risking, where entities exit certain relationships as they are unable to manage potential AML/CFT risks involved.
Despite the challenges, developing countries can make significant progress in curbing money laundering and terror financing. Mongolia provides an example of what works. In October 2019, the country was placed on the “grey list” by the Financial Action Task Force, a global money laundering and terrorist financing watchdog group. Being on this list means that there are strategic deficiencies in the country’s regimes to counter money laundering, terrorist financing, and proliferation financing that need to be addressed.
Within 12 months, Mongolia was off the list. This was extraordinarily quick for a developing country to undertake the reforms and actions needed to get off the grey list, particularly amid a pandemic.
Combating money laundering and terror financing is extremely complicated, requiring international expertise across a wide range of government and private sector activities. Working with development partners who have expertise in this area is key to an informed response. Mongolia leaned into their network of experts to develop an effective strategy.
Mongolia worked with development partners and donor nations to develop a plan that was in line with its action plan under the International Co-operation Review Group, an initiative of the Financial Action Task Force that works with countries at high risk of being compromised by money laundering and terror financing. These are some of the world’s top experts in the area.
They also brought together private sector professionals from various sectors, such as real estate agents, accountants, dealers in precious stones and metals, lawyers and notaries, to cooperate with training and adhere to new reporting requirements.
Mongolia’s leaders brought to the task a focus on cooperation, political will, and a willingness to adapt and learn new procedures. This leadership allowed Mongolia’s government agencies to concentrate on the changes needed for maximum results at the fastest possible time by efficiently utilizing resources.
With clear, pre-determined goals to conserve time and resources, and the Ministry of Finance taking ownership of and responsibility for the response they were able to get multiple agencies moving quickly in the same direction.
Some developing countries make the mistake of waiting until they are pressured by the international community to address money laundering. Mongolia did not take this path. When there were indications that it would be put on the grey list, the country’s leaders immediately undertook actions to begin studying and addressing the issue.
By the time Mongolia was placed on the grey list, the country’s central bank and financial regulatory commission were already addressing its anti-money laundering and terror financing deficiencies. Because of this proactive work, instead of the expected 20 or so issues to be pointed out by the International Co-operation Review Group, Mongolia only had to address six key items.
Mongolia’s experience provides important lessons for other countries facing similar issues with money laundering and terror financing. For one, participation in international agreements and covenants are important but lasting change can only happen when reforms benefit a country’s citizenry.
Anti-money laundering efforts should not be seen as arbitrary new bureaucratic procedures being imposed from outside the country. These changes decrease corruption, increase transparency in extractive industries such as mining, strengthen the rule of law, improve the operation of government, and improve the lives of the public in myriad other ways.
It is important to communicate these benefits to the public because people are more likely to support reforms when they understand them. And when it comes to the expertise needed, development partners have sent a clear message to developing countries: You can rely on us. We have your back.
By Declan Magee, Carlo Antonio Garcia
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