1 MUNKHSUKH SUKHBAATAR APPOINTED AS OYU TOLGOI CHIEF EXECUTIVE OFFICER WWW.EN.MININGINSIGHT.MN  PUBLISHED:2025/11/26      2 MONGOLIA EMBRACES FOREIGN CAPITAL WWW.IFRE.COM PUBLISHED:2025/11/26      3 THERMAL POWER PLANT 5 TARGETS CLEANER AIR, RELIABLE ENERGY FOR ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2025/11/26      4 MONGOLIA, CHINA TO COOPERATE IN ANIMAL-DERIVED RAW MATERIAL PROCESSING WWW.MONTSAME.MN PUBLISHED:2025/11/26      5 MONGOLIA ELECTED TO UNESCO WORLD HERITAGE COMMITTEE FOR 2025-2029 WWW.QAZINFORM.COM PUBLISHED:2025/11/26      6 GIEWS COUNTRY BRIEF: MONGOLIA 25-NOVEMBER-2025 WWW.RELIEFWEB.INT PUBLISHED:2025/11/26      7 ULAANBAATAR RECEIVES 2,200-4,400 TONS OF SEMI-COKE FUEL DAILY WWW.MONTSAME.MN PUBLISHED:2025/11/26      8 UNAUTHORIZED PARKING FACILITY DISMANTLED WWW.UBPOST.MN PUBLISHED:2025/11/25      9 AT COP30, MONGOLIA ONE OF THE ONLY COUNTRIES WITHOUT A PAVILION WWW.EARTHJOURNALISM.NET  PUBLISHED:2025/11/25      10 LOCAL EQUESTRIAN PREPARES FOR 1,000-KILOMETER MONGOL DERBY RACE ACROSS MONGOLIA WWW.KBZK.COM PUBLISHED:2025/11/25      "ОЮУ ТОЛГОЙ" КОМПАНИЙН ГҮЙЦЭТГЭХ ЗАХИРЛААР С.МӨНХСҮХИЙГ ТОМИЛЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/11/26     ХАГАС КОКСОН ТҮЛШИНД ХИЙСЭН ШИНЖИЛГЭЭНИЙ ХАРИУ ГАРЧЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/11/26     УУЛ УУРХАЙН БҮТЭЭГДЭХҮҮНИЙ БИРЖИЙН АРИЛЖАА 226 ХУВИАР ӨСЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/11/26     ШАТАХУУНЫ ХАНГАМЖ, НИЙЛҮҮЛЭЛТИЙГ ДЭМЖИХ ХУУЛИЙН ТӨСЛИЙГ ӨРГӨН МЭДҮҮЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/11/26     ЭДИЙН ЗАСАГ, ХӨГЖЛИЙН САЙДААР Ж.ЭНХБАЯРЫГ, ХХААХҮ-ИЙН САЙДААР М.БАДАМСҮРЭНГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/11/26     ҮНДСЭН ХУУЛИЙН ЦЭЦИЙН ДУНД СУУДЛЫН ХУРАЛДААН БОЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/11/26     ЗАСГИЙН ГАЗАРТ ГОЛ НЭРИЙН ХҮНСНИЙ БҮТЭЭГДЭХҮҮН, МАЛЫН ТЭЖЭЭЛИЙН ГААЛИЙН ТАТВАР ТОГТООХ ЭРХ ОЛГОХЫГ ДЭМЖИВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/11/26     МОРИНГИЙН ДАВААНД ӨДӨРТ 1500 ТН ХОГ ШАТААЖ, 35 МВТ ЭРЧИМ ХҮЧ ҮЙЛДВЭРЛЭХ ҮЙЛДВЭР БАРИНА WWW.GOGO.MN НИЙТЭЛСЭН:2025/11/25     ЭРЭЭН ХОТЫН ГААЛИЙН ТАЛБАЙД 8000 ТОНН, “ТАВАНТОЛГОЙ ТҮЛШ” КОМПАНИЙН ҮЙЛДВЭРТ 35 МЯНГАН ТОНН ХАГАС КОКСОН ТҮЛШ НӨӨЦӨЛЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/11/25     УЛААНБУРХАН ӨВЧНИЙ НИЙТ БАТЛАГДСАН ТОХИОЛДОЛ 13.663 БОЛЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/11/25    

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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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Urgent tax reform highlighted at Economic Forum www.ubpost.mn

The Mongolian Economic Forum 2025 began at the State Palace. Prime Minister G.Zandanshatar opened his first government forum by delivering a speech. 
He stated, “The two-day economic forum aims to provide a clearer picture of the policies ministers appointed a month ago will pursue in the future. It will be interesting to see whether participants unanimously name mining or highlight other sectors such as information technology and agriculture. About 500 government officials, 700 private sector officials, and 900 NGO representatives have registered to attend the conference. Mongolian citizens have paid one million MNT and foreign citizens 500 USD to attend the event.”
Economist B.Lkhagvajav expressed his position by stating, “The economic forum has become a platform for praising the government, but this year it is changing.” During the event, CEO of Bizcon Audit LLC L.Otgonbayar said, “The tax code needs to be changed because the excessive structure of the state needs to be reduced. It is good that the government is talking about reducing it by nine percent. However, the people working in this structure should do their job and not pressure the private sector. Corruption, bureaucracy, and the need for unnecessary documents are destroying the favorable environment for doing business.”
L.Otgonbayar emphasized that the development of the private sector is very important, but the current situation is unclear and incomprehensible. For example, even if businesses submit the nine documents required for obtaining a permit, additional requirements appear again due to the difficulties in the internal organization of state institutions. Therefore, a specialized, compact and clearly principled government is needed. The Prime Minister believes that building a strong Mongolia based on the private sector is the right approach and that entrepreneurs need a peaceful and happy environment. However, the current tax environment is very stressful. Inspectors treat entrepreneurs like law enforcement officers and pressure them to pay. Some citizens are burdened with debts and loans and barely manage to pay salaries. In such a situation, however, authorities may close their accounts and impose fines, which causes difficulties, he underlined.
Having worked in auditing for 24 years, L.Otgonbayar noted that there have been no changes in the tax system and the attitude of inspectors during that time. The benefits and exemptions provided by law are not actually implemented. For instance, authorities refuse to make calculations or approve applications for benefits. This situation is very difficult for micro and small business owners, pushing many to give up, liquidate, emigrate, or enter civil service soon after starting a business. The decrease in the number of business owners will negatively affect budget revenues in the short and medium term, which will in turn reduce funding for important sectors such as education, health, and law enforcement.
Signs of a favorable environment for entrepreneurs are emerging, along with a change in mentality that could create opportunities for progress. Recently, foreign representatives misunderstood the wealth fund, thinking the government planned to take 34 percent of invested capital. The prime minister clarified that exploration would be treated differently depending on whether it was funded with public money, which helped correct this misconception. 
Even though the tax authority has gone digital, uncertainty and harsh treatment of taxpayers persist. Inspectors continue to harass businesses regardless of deadlines set by law. The unlimited amount of interest and penalties imposed makes the tax authority akin to a direct moneylender. For example, if a businessman files an incorrect report, they impose unlimited penalties, despite there being a maximum interest rate for commercial loans. The requirement of a 10 percent advance payment when applying to the Dispute Resolution Board itself reflects an unfair system, which is making the environment increasingly difficult for entrepreneurs, the businesses expressed. 
Economist B.Lkhagvajav shared his views by briefly reviewing the forum’s results over the past 15 years. Between 2006 and 2010, major issues such as the Oyu Tolgoi agreement and changes to the mining law were resolved through public debate and protests. In 2010, the government shifted these issues to the forum, creating a space for open dialogue among scientists, researchers and civil society representatives. The first two forums were very effective in discussing policy issues. Unfortunately, in recent years, the forum became a platform primarily for praising the government. However, with a new government and the resignation of the previous prime minister, this forum marks the beginning of real conversations and new opportunities. Facing a budget cut of 3 trillion MNT and a looming crisis, the forum must confront reality and have frank discussions. The Investment Law has not been revised since 2013, but talk of revision at the forum does not inspire confidence. The law contains only one provision stating that investments of 10 billion MNT or more are tax-exempt for ten years. Unfortunately, this provision is not implemented in practice, he highlighted. 
Some participants also expressed, “The state often enters into one-sided contracts that harm the private sector. For example, companies that have won tenders have not received payment for three years, leading to tragic outcomes such as suicides due to loan interest. The Pharmaceutical Association alone is owed 200 billion MNT by the state. These contracts must be reviewed, and contracts between the state and the private sector must be equal. The Mongolian National Chamber of Commerce and Industry has full authority to act as an arbitrator to resolve contract disputes and can issue fairer decisions than courts.”
One of the most pressing issues is the permit system, which currently includes 384 types of permits issued by the state. There is a proposal to transfer this authority to the chamber, as the current system constitutes excessive state intervention in the economy. The number, structure and necessity of permits must be updated based on thorough research. For example, standards are needed for the number of pharmacies allowed per district. The chamber has experience in this work; in the construction sector alone, three types of permits have been issued in the last ten years. This is not just a regulatory issue but also a corruption problem. Moving to a fair and accountable system is the main role of the Transparent Forum, they said.

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Japanese imperial couple attend welcome ceremony in Mongolia www.english.kyodonews.net

Japan's Emperor Naruhito and Empress Masako attended a welcome reception in the Mongolian capital on Tuesday in the first state visit to the country by a Japanese emperor.Virtual tours of Japan
The couple's eight-day trip through July 13 is meant to reaffirm the friendship between the two nations, with this year marking the 80th anniversary of the end of World War II.
After meeting President Ukhnaa Khurelsukh and his wife at the government building in Ulaanbaatar, the emperor and the empress are expected to participate in a banquet hosted by the Mongolian leader later in the day.
The two are also scheduled to lay flowers at a memorial to commemorate Japanese nationals who died while in internment camps there after the war.Virtual tours of Japan
After arriving in Mongolia on Sunday, the emperor visited the Chinggis Khaan National Museum and a water facility built with Japanese aid before attending the official events.
Following World War II, the Soviet military transferred around 14,000 of some 575,000 Japanese prisoners of war from Siberia to Mongolia, putting them to work on infrastructure projects for around two years. More than 1,700 are believed to have died.Virtual tours of Japan
The Japanese government later established a memorial on a hill in Dambadarjaa, a former cemetery for the deceased POWs on the outskirts of Ulaanbaatar.
Mongolia, sandwiched between China and Russia, established diplomatic relations with Japan in 1972. The two countries have enjoyed a close relationship since Mongolia embarked on democratization and economic liberalization in 1990.

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CU Mongolia expands logistics hub toward 1,000-store goal www.koreaherald.com

CU Mongolia, operated by South Korea’s leading convenience store brand BGF Retail, said Tuesday that it has expanded its automated logistics center to enhance its supply capacity across the country.
The center, located about two hours east of the capital city, Ulaanbaatar, initially introduced automation technologies in 2023, becoming the first in Mongolia’s retail industry to adopt automation systems.
The expansion adds around 3,300 square meters to the existing 4,960-square-meter facility, increasing the total size to more than 8,200 square meters.
It also enhances logistics capabilities with a digital picking system, allowing the center to process up to 700 orders daily.
With this expansion, CU strengthens its nationwide supply chain, leaning toward its goal of opening 1,000 stores in Mongolia.
CU currently dominates the Mongolian market with approximately 490 stores, accounting for a 70 percent market share as of last month.
In addition to its logistics operations, CU Mongolia operates a ready-to-eat food production facility that opened in 2021, with plans to expand its capacity next year.
The company has also adopted an artificial intelligence-powered automated ordering system across its stores to improve demand prediction and inventory management.
“Despite Mongolia’s per capita GDP being just one-fifth of South Korea’s, CU Mongolia achieves sales on par with Korean stores, highlighting its strong position in the local market,” said Kim Tae-han, overseas business operations team manager at BGF Retail.
CU operates over 690 stores overseas, including locations in Malaysia and Kazakhstan. It has scheduled an upcoming launch in Hawaii in November.

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Khaan Quest demonstrates ‘strength and resolve’ of partners to seek peace www.ipdefenseforum.com

More than 1,200 defense personnel from 23 nations trained in peacekeeping operations during the 22nd iteration of Khaan Quest on the outskirts of Mongolia’s capital in June 2025.
The annual exercise at Five Hills Training Facility near Ulaanbaatar serves “as a vital platform for enhancing professional knowledge and strengthening practical skills,” Maj. Gen. Sunreviin Ganbyamba, the Mongolian Armed Forces chief of general staff, said at the opening ceremony.
Khaan Quest was launched as a bilateral initiative of the Mongolian Armed Forces and the United States Marine Corps in 2003, a decade after Mongolia shed nearly 70 years of communist rule. It has evolved into a multinational exercise featuring field training and command post drills focused on reinforcing U.N. peacekeeping standards.
“We face increasingly complex security challenges, from regional conflicts to humanitarian crises,” said Lt. Gen. Joel B. Vowell, deputy commanding general of the U.S. Army Pacific. “Khaan Quest prepares us to meet these challenges, equipping us with the skills and trust needed to operate in volatile environments. This work is about upholding the values of freedom, justice and human dignity, protecting vulnerable populations and creating conditions for lasting peace.”
The 2025 participants also included: Australia, Bhutan, Canada, China, Egypt, France, Germany, India, Italy, Japan, Kuwait, Kyrgyzstan, New Zealand, the Philippines, Qatar, South Korea, Thailand, Timor-Leste, Turkey, the United Kingdom and Vietnam.
“Over the last two decades, the Khaan Quest exercise has evolved into a highly significant and impactful multinational training event, bringing together more than 21,000 military professionals from 67 different countries,” Ganbyamba said.
About 40 Indian Army Soldiers, primarily from the Kumaon Regiment, participated in the two-week drills. The Army said it “remains steadfast in its commitment to global peace, stability and international cooperation and also continues to play an active and constructive role in advancing United Nations peacekeeping efforts around the world,” the South Asian news agency ANI reported.
Along with Vietnam People’s Army personnel, Hanoi sent senior defense officials to Mongolia during Khaan Quest for bilateral talks on peacekeeping operations and military cooperation, according to the People’s Army Newspaper.
To rehearse theater operations, the U.S. Army’s 125th Finance Battalion contracted local providers for logistics support during Khaan Quest.
“When you don’t have time or freedom of movement to resupply, being able to procure goods and services locally enables forward commanders to maintain their operational tempo and extend their operational reach,” Lt. Col. Jeremy Eckel, battalion commander, said in a news release.
U.S. Ambassador Richard Buangan highlighted the “courage and commitment” of Mongolian peacekeepers in protecting civilians from attackers in April 2025 as part of the U.N. Mission in South Sudan. “All those peacekeepers came through Khaan Quest to test their skills,” he noted at the opening ceremony.
“Every year this exercise demonstrates the strength and resolve of all the countries involved to seek peace and prosperity through friendship and trust,” Buangan said. “Khaan Quest doesn’t just build the capacity of Mongolia’s military in peacekeeping, but also that of partner countries who are investing military and security assistance to calm the world’s troubled hot spots.”

 

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European Bank for Reconstruction and Development to Increase Investments www.montsame.mn

Deputy Prime Minister and Minister of Economy and Development Uchral Nyam-Osor met with representatives of the European Bank for Reconstruction and Development (EBRD), headed by  Director for Central Asia and Mongolia Hussein Özkan, at the State Palace.
During the meeting, the parties exchanged views on expanding cooperation aligned with the Government’s priority areas. The EBRD emphasized its plan to increase investments in major projects and deepen collaboration with Mongolia.
Mr. Hussein Özkan stated, “Our bank works together to improve governance and the business environment, strengthen regional integration, and support a green and climate-resilient economy. These efforts closely align with Government policies. Moving forward, we see opportunities to expand cooperation in renewable energy, business investment, foreign trade, exports, public-private partnerships, science, technology, and innovation.”
Since 2007, the EBRD has provided a total of USD 2.5 billion in financing to 151 Government and private sector projects in Mongolia, with 93 percent directed toward the private sector, significantly contributing to economic growth and job creation.

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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.

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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.

 

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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.

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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.]

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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

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