14th MBD mission for MBCC's "Doing business with Mongolia seminar & Christmas Reception" and business program Dec 08- 14. 2025 London, UK www.mongolianbusinessdatabase.com

Mongolian Business Database with the support of the British Embassy in UB and Mongolian-British Chamber of Commerce is starting to register the participants for MBCC's "Doing Business with Mongolia seminar & Christmas Reception" at Goodman RWK on Dec 10.2025 and business program in London, UK between Dec  08- 14. 2025.
The delegates will visit the House of Commons according to the special program and able to visit “STM Innovator Fair 2025”, "The Royal Kingston Fair" trade events and The Nutcracker at The London Coliseum, Sleeping Beauty at the London Palladium etc cultural events in London are available during the period. (Chelsea vs Everton, Liverpool vs Brighton, Arsenal vs Wolves, Tottenham vs Nottm Forest etc EPL games are scheduled on Dec 13) 
The MBCC (Mongolian-British Chamber of Commerce) is a not-for-profit membership organisation established in 2009 to foster strong business links between Mongolia and the UK. It aims to provide a professional and social environment for business people who wish to be introduced to and become part of, the British-Mongolian business culture and community.
Please contact for the registration and info in detail at 976 99066062 and contact@mongolianbusinessdatabase.com

IMF Wraps Up 2025 Article IV Talks With Mongolia www.imf.org

Washington, DC: On September 5, 2025, the Executive Board of the International Monetary Fund (IMF) completed the Article IV Consultation for Mongolia [1]
A booming mining sector in 2023-24 significantly bolstered exports and fiscal revenues, underpinning robust economic growth and lower external and fiscal vulnerabilities. However, coal exports declined markedly in the first half of 2025, resulting in a widening current account deficit, reduced budget revenues, and depreciation pressures. After peaking in February 2025, headline inflation moderated to 8.2 percent by June. Credit growth in both the banking and nonbank financial sectors remains high, despite some recent moderation. The new government, formed in June 2025, has signaled policy continuity. In response to revenue shortfalls, it submitted an amended budget to Parliament aimed at reducing expenditures and ensuring compliance with the structural fiscal deficit limit.
Growth in 2025 is projected to rise to 5.5 percent, supported by a strong recovery in the agriculture sector. Mining output is expected to remain robust, driven by increased production of higher-grade copper concentrate at Oyu Tolgoi. However, a sharp decline in coal exports—primarily due to lower prices—is expected to widen both the current account and fiscal deficits. Growth is projected to remain around 5½ percent in 2026. Inflation is anticipated to stay above the BOM target band until 2026. Over the medium term, growth is projected to gradually converge to its potential of about 5 percent. Current account deficits are forecast to persist, reflecting the high import intensity of investment projects and continued strong consumer goods imports.
Downside risks to the outlook have increased, stemming from uncertainties in Chinese coal demand and larger-than-expected declines in coal prices. Policy slippages could undermine reform progress, particularly amid growing pressures to accelerate and broaden the distribution of mining benefits by reducing non-mineral tax collections and exempting large investment projects from the fiscal rules.
Executive Board Assessment [2]
Executive Directors noted the strong growth and fiscal surpluses achieved in 2023−2024, which helped reduce Mongolia's vulnerabilities. Directors underscored, however, that the near-term outlook has become less favorable, with rising downside risks from lower coal prices and greater global uncertainty. Against this backdrop, they called for prudent macroeconomic policies to restore external and internal balances and for structural reforms to achieve diversified and sustainable growth.
Directors welcomed the authorities' commitment to meeting the structural deficit limit through expenditure restraint, which is reflected in the supplementary 2025 budget. They emphasized the need to create fiscal space by broadening the non-mining tax base and to implement mega capital projects within the fiscal rules and after careful prioritization. Directors encouraged the authorities to ensure that the tax package currently under review reduces reliance on volatile mining revenues and safeguards fiscal sustainability. They also stressed the importance of avoiding frequent changes to fiscal rules to preserve their credibility. Directors encouraged the authorities to expand domestic debt issuance to develop domestic debt markets and enhance monetary policy transmission.
Directors called on the Bank of Mongolia (BOM) to maintain a tight monetary policy stance to contain inflation. They also recommended strengthening the BOM's legal mandate, operational autonomy, and governance through amendments to the central bank law and by ending the BOM's quasi-fiscal operations.
Directors concurred that greater exchange rate flexibility would enhance Mongolia's resilience to external shocks and help deepen the foreign exchange market. They encouraged the BOM to pursue opportunistic reserve accumulation when market conditions allow.
Directors welcomed the recent macroprudential policy tightening. They encouraged aligning the debt service-to-income (DSTI) limit for nonbank financial institutions with that of banks, incorporating pension-backed loans into the DSTI limit, expanding the BOM's macroprudential toolkit, and separating macroprudential from monetary policy. Directors also recommended strengthening financial oversight and insolvency frameworks.
Directors agreed that structural reforms to improve the business climate, combat corruption, strengthen governance, and address climate change-related challenges remain essential for achieving diversified and sustainable growth. They welcomed the progress made in strengthening the AML/CFT framework and called for its effective implementation.

Posco International to Launch Wastewater Heat District Heating Project in Mongolia www.cm.asiae.co.kr

Posco International announced on September 15 (local time) that it had signed a memorandum of understanding with Ulaanbaatar City at Ulaanbaatar City Hall in Mongolia to promote a "heating supply project utilizing wastewater heat."
Under this partnership, Posco International will pursue a plan to supply waste heat generated from Ulaanbaatar’s central wastewater treatment plant to nearby redeveloped residential areas. The two parties will jointly conduct a feasibility study for the project by the first half of 2026. If the project is proven to be economically and technologically viable, they plan to implement the main project for 15 years using the BOT (Build-Operate-Transfer) model starting in the second half of the year. Once completed, district heating will be provided to a newly constructed residential complex with 4,000 households.
Ulaanbaatar is known as one of the cities with the worst air pollution in the world during winter, with coal used for heating identified as a major cause. Posco International has proposed a solution that recycles waste heat generated during the wastewater treatment process to supply district heating, thereby reducing both greenhouse gas emissions and fine particulate matter.
Posco International is currently operating a district heating project utilizing wastewater heat at the Tancheon Wastewater Treatment Plant in Seoul. The company supplies 204,900 gigacalories of heat annually to 20,000 households in Gangnam District, saving approximately 20,490 tons of oil equivalent and reducing carbon dioxide emissions by 33,972 tons.
A Posco International representative stated, "This project not only contributes to solving Ulaanbaatar’s environmental issues, but also marks a significant step in applying Posco Group’s eco-friendly energy technology and business capabilities overseas. We also plan to explore the possibility of expanding this business into the Central Asian region."

Mongolia's external debt up 12.7 pct in Q2 2025 www.news.az

Mongolia's external debt reached 39.6 billion U.S. dollars in the second quarter of 2025, up 12.7 percent from the same period last year, according to the National Statistics Office on Monday, News.az reports citing CNN.
The growth in external debt was largely driven by a 10.7-percent increase in direct investment and intercompany loans, as well as a 10.3-percent rise in government borrowing, according to the data.
Meanwhile, the credit rating agency Fitch Ratings forecasted that Mongolia's gross general government debt will decline to below 40 percent of gross domestic product (GDP) in the medium term from 41.8 percent of GDP at the end of 2024.
However, a substantial share of public debt is denominated in foreign exchange, highlighting exchange-rate risk, the agency added.
Fitch has predicted that Mongolia's real GDP growth will pick up to 5.7 percent this year, driven by an agricultural recovery after two harsh winters.

2025 Autumn Session of the State Great Khural Commences with Structural Reforms www.montsame.mn

 The autumn session of the State Great Khural (Parliament) of Mongolia began on September 15, 2025, under a newly amended schedule.
At the opening of the autumn session, Speaker of the Parliament Amarbayasgalan Dashzegve extended congratulations on the 35th anniversary of the establishment of a permanent parliament in Mongolia and the International Day of Democracy.
Speaker Amarbaysgalan noted that this regular session begins with several key changes, including a restructured Standing Committee system. To improve coherence in parliamentary discussions and increase member participation, the scope of work for the Standing Committees has been streamlined, reducing their number from 11 to 8.
The Speaker also highlighted that the Law on Amendments to the Law on Legislation, a key reform for the legislative process, came into effect on August 1, 2025. Alongside its adoption, Parliament passed a resolution titled “On Measures to Enforce the Revised Law on Legislation” which instructs the Government to align all existing laws with the revised legislation and to submit the corresponding draft law by May 1, 2026.
During his address, Speaker Amarbaysgalan emphasized the urgent need to reform Mongolia’s social insurance system, noting that it remains based on outdated structures. The high tax burden is restricting productivity, growth, and development, and citizens and businesses are calling for a legal environment that reduces tax and social insurance pressures and encourages private sector growth over state-run enterprises. He commended the government for utilizing the E-mongolia platform to engage citizens in the development of the 2026 budget. However, a recent public survey identified health and education as the top priorities for increased funding. Nevertheless, the proposed 2026 budget includes a deficit of MNT 1.3 trillion, with no increase in education sector financing compared to the previous year.
Speaker Amarbayasgalan urged lawmakers to re-evaluate the education system and its budget, highlighting its critical role in shaping the future of Mongolia’s children and national development.
Following amendments made during the last spring session to the Law on the State Great Khural of Mongolia, the autumn regular session now begins on September 15 – two weeks earlier than the previous October 1 start date – and will run for a minimum of 75 working days.
On the opening day of the session, the plenary meeting will commence with initial discussions on several key draft laws, including the 2026 Budget Framework Statement of Mongolia, the 2027-2028 Budget Projection, and the 2026 budgets for the State, the Sovereign Wealth Fund, the Social Insurance Fund, and the Health Insurance Fund.

Mongolia Surpasses 617,000 Tourist Arrivals by Mid-September 2025 www.montsame.mn

In the first eight months of 2025, Mongolia welcomed approximately 600,000 international tourists.
Since the beginning of September, more than 16,000 additional visitors have arrived, bringing the total to 617,000 as of September 10, 2025.
This surge in tourism follows a record-breaking year in 2024, when 808,900 tourists visited the country, generating USD 1.6 billion in revenue for the tourism sector – a historic high. In response, the Mongolian government and tourism organizations have set a target milestone of attracting 1 million tourists in 2025.
Mongolia continues to captivate travelers with its dramatic natural landscapes, rich nomadic heritage, and ancient historical sites. However, industry experts note that challenges remain, particularly in infrastructure development and inconsistencies in service quality.
In 2024, the majority of tourists came from China, Russia, South Korea, Japan, and the United States, typically opting for short-term visits. China led in visitor numbers, followed by Russia, South Korea, Japan, and Kazakhstan.

Odd-even traffic restriction concludes www.ubpost.mn

Ulaanbaatar’s temporary odd-even license plate traffic restriction, which has been in effect since August 27, is set to conclude on September 16. The measure, introduced for a 20-day period, required vehicles to enter the capital city’s roads on alternating days depending on whether their license plates ended with an odd or even number.
City officials announced that the system will remain in force until this Tuesday. Beginning Wednesday, traffic regulation in the capital city will return to its standard weekly restriction, where each vehicle is prohibited from entering central Ulaanbaatar one day a week, based on the final digit of its license plate.
The odd-even restriction was initially adopted to help ease severe congestion during the late summer period, when traffic volumes traditionally spike. According to the capital city’s traffic authorities, the measure has provided temporary relief, reducing pressure on the busiest intersections and main roads. However, it was always intended as a short-term solution.
Officials have emphasized that while the odd-even system has offered some breathing room for drivers, sustainable solutions will require long-term investments in public transportation, road infrastructure, and traffic management technology. For now, residents are being reminded to adjust their travel plans as the city transitions back to the weekly license plate schedule starting mid-week.

MMC Announces First Gold Pour Completed at the Bayan Khundii Mine in Mongolia www.sg.finance.yahoo.com

MKE Launches Cartridge Production Line in Mongolia www.raillynews.com

The Machinery and Chemical Industry (MKE) continues to take important steps in international defense cooperation. Within the framework of the cooperation with the Mongolia, Defense Industrial Corporation (DIC) within the scope of the contract signed with the company The cartridge production line project was successfully completed Within the scope of this project, the installation, commissioning, performance tests and pilot production processes of the machines were completed and acceptance procedures were carried out.
Mongolia Production Line Launched
In the facility where the installation has been completed, Cartridge production in 9 mm x 18, 7.62 mm x 54 and 7.62 mm x 39 calibers This cooperation constitutes an important part of MKE's strategy to transfer its centuries-old experience and advanced production capabilities to allied countries.
MKE's Polish Move: 155mm Howitzer Ammunition Production Line
MKE continues to negotiate with various countries regarding production line installations. In this context, NATO members Polonya a “155 mm Howitzer Ammunition Production Line” The proposal for the establishment of a new project was discussed at the MSPO2025 trade fair. MKE Deputy General Manager Tolga Çelik told the Defence24 platform that MKE is ready to cooperate in establishing any production capacity Poland needs and that they have proposed establishing a factory in Poland specifically to produce 155mm ammunition for howitzers. It was stated that the project has reached its final stages of decision-making, and MKE has been shortlisted.
These strategic steps not only showcase MKE's expertise in weapons and ammunition production in the global arena, but also strengthen its industrial production capabilities and position in technology transfer.

Mongolia’s Largest Mining Event Highlights Investment and Responsible Mining www.montsame.mn

Mongolia’s largest mining event, “Mining Week & MinePro 2025,” officially opened on September 11, 2025, at the foot of Taij Khairkhan Mountain in Nalaikh District.
This event is not only a significant gathering for Mongolia’s mining industry but has also evolved into a major platform for defining new opportunities for economic growth, investment, and international cooperation. This year, it is being held under the theme “A New Cycle for the Mineral Sector: Investment and Responsible Mining.”
The opening ceremony of Mining Week was attended by officials including the Prime Minister of Mongolia Zandanshatar Gombojav, Deputy Prime Ministers Amarsaikhan Sainkhuu and Dorjkhand Togmid, Minister of Industry and Mineral Resources Damdinnyam Gongor, Chairman of the Board of the Mongolian National Mining Association Battsengel Gotov, President and CEO of the Mining Association of Canada Pierre Gratton, Secretary General of the China Mining Association Che Changbo, President of the Colombian Mining Association Juan Camilo Nariño, members of the Mongolian parliament, representatives from government and private sectors, ambassadors, international organizations, investors, chambers of commerce, and mining professionals from Mongolia and abroad.
In his speech, Prime Minister Zandanshatar emphasized that the Government of Mongolia is launching the "Mining and AI" initiative and aiming to foster mutually beneficial cooperation with experts and investors in the mining and technology sector. He stressed the importance of going beyond extraction by producing value-added products, adopting technology, and innovation to enhance competitiveness. Highlighting the Government's policies on green development, digital transformation, and sustainable and responsible mining, the Prime Minister reaffirmed its commitment to transparency and accountability and to prioritizing regional development and the interests of local communities.
Highlights from key officials:
Prime Minister Zandanshatar Gombojav:
"Today's mining sector cannot be separated from environmental responsibility, social accountability, digital transformation, and the Fourth Industrial Revolution. Therefore, the Government will prioritize integrated policies on green development, digital transformation, and sustainable and responsible mining."
Deputy Prime Minister Amarsaikhan Sainkhuu:
"We cannot allow the mining sector to focus only on exports, local governments on budgets, and citizens solely on land and pasture, while our youth, our future workforce, remain directionless. We must take a holistic approach to address these challenges."
Deputy Prime Minister Dorjkhand Togmid:
"Over the past 10 years, Mongolia has received 29.2 billion US dollars in foreign investment, 74 percent of which, USD 21.7 billion, was directed toward the mining sector. This trend is expected to persist."
Minister of Industry and Mineral Resources Damdinnyam Gongor:
"A legal analysis of 10 current laws governing the mineral sector found 267 overlaps, 150 conflicts, and 150 gaps, highlighting the urgent need to reform the legal environment. Our ministry is now working on a draft law to amend the Minerals Law. Mining companies must also focus on improving employee skills and increasing productivity. In 2024, the mineral sector contributed 27 percent, amounting to MNT 22 trillion, to the national GDP."
Executive Director of Erdenes Mongol LLC Narantsogt Sanjaa:
"The government will focus on developing infrastructure such as railways, roads, and water systems through public investment, allowing the private sector to operate more efficiently. More experienced and economically efficient companies should operate in the extraction field. We will support the private sector’s best practices."
The fourth edition of the exhibition features participation from nine countries’ business associations and chambers of commerce, 250 supplier companies, and more than 50 mining companies. Spanning nine hectares, the event consumes around 9,000 kilowatt-hours of energy over three days, with 10 percent supplied from renewable sources. The outdoor exhibition showcases new machinery and equipment, while the indoor space focuses on innovation, projects, and partnership opportunities. 
The three-day Mining Week event continues with key forums and discussions. On the second day, the agenda focuses on investment and global trends in the mineral sector.
On September 13, the closing day, a mini-festival and a youth-focused open event are scheduled to conclude the Week.