1 PRESIDENT ISSUES DECREE ON DEVELOPING TRADITIONAL MONGOLIAN MEDICINE WWW.MONTSAME.MN PUBLISHED:2026/01/17      2 IN 2025, MONGOLIA EXPORTED 83.9 MILLION TONS OF COAL WWW.OPEN.KG PUBLISHED:2026/01/17      3 AYAN HOTELS AND RESORTS ANNOUNCES THE OPENING OF AYAN ZALAAT HOTEL & SPA IN ULAANBAATAR, MONGOLIA WWW. PUBLISHED:2026/01/17      4 PM: ONLY AN ORDERLY STATE CAN DELIVER ECONOMIC GROWTH TO CITIZENS WWW.MONTSAME.MN PUBLISHED:2026/01/16      5 JAPAN GRANT TO SUPPORT POWER GRID RELIABILITY WWW.MONTSAME.MN PUBLISHED:2026/01/16      6 MONGOLIA TO DEEPEN COOPERATION WITH CHINA IN THE FIELD OF RESPONSIBLE MINERAL EXTRACTION WWW.OPEN.KG PUBLISHED:2026/01/16      7 SPRING AIRLINES PLANS DIRECT SHANGHAI–ULAANBAATAR FLIGHTS WWW.MONTSAME.MN PUBLISHED:2026/01/16      8 DRIVING FINANCIAL INCLUSION IN MONGOLIA: INVESTMENT IN INVESCORE WWW.TRIODOS-IM.COM PUBLISHED:2026/01/15      9 ‘ERDENES TAVANTOLGOI’ JSC SETS ALL-TIME DAILY RECORD FOR COAL EXPORTS WWW.MONTSAME.MN PUBLISHED:2026/01/15      10 SOUTH KOREA JOINS CHINA, JAPAN, GERMANY, RUSSIA AND KAZAKHSTAN IN ACCELERATING MONGOLIA TOURISM BOOM WITH RECORD-BREAKING VISITOR SPEND, STRONG WINTER DEMAND AND RISING FOUR-SEASON TRAVEL APPEAL WWW.TRAVELANDTOURWORLD.COM PUBLISHED:2026/01/15      “ЧИНГИС ХААН” НИСЭХ БУУДЛЫГ ТҮШИГЛЭН ОЛОН УЛСЫН ТРАНЗИТ ЗОЧИД БУУДАЛ БАЙГУУЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/17     АТГ: Н.ТАВИНБЭХ ЗӨВЛӨХИЙНХӨӨ КОМПАНИД 7 ТЭРБУМ ТӨГРӨГИЙН САНХҮҮЖИЛТ ОЛГОСОН WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/17     С.НАРАНЦОГТЫН ЭХНИЙ НҮҮДЭЛ: ИРГЭДИЙН ЗЭЭЛИЙН ХЭМЖЭЭГ 5 ХУВИАР БУУРУУЛАХ WWW.EGUUR.MN НИЙТЭЛСЭН:2026/01/17     АЛБАН БОЛОН ХУВИЙН ХЭРГЭЭР АМЬДРАХ ГАДААД ИРГЭДИЙН ТОО ӨСЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/17     ХЯТАДЫН ҮНДЭСНИЙ ГАЗРЫН ТОСНЫ КОРПОРАЦИТАЙ ШАТАХУУНЫ НИЙЛҮҮЛЭЛТИЙГ НЭМЭГДҮҮЛЭХ УРТ ХУГАЦААНЫ ГЭРЭЭ БАЙГУУЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/16     "СЭЛБЭ 20 МИНУТЫН ХОТ" БҮСЭД СОНГОН ШАЛГАРУУЛАЛТ ЗАРЛАЛАА WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/16     2025 ОНД МОНГОЛ УЛС НИЙТ 90.2 САЯ ТОНН НҮҮРС ЭКСПОРТОЛЖ РЕКОРД ЭВДСЭН Ч ҮНЭ УНАСААР БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2026/01/16     МОНГОЛ УЛС ХЯТАД УЛСТАЙ ХАРИУЦЛАГАТАЙ НОГООН УУЛ УУРХАЙГ ХӨГЖҮҮЛЭХ ХАМТЫН АЖИЛЛАГААГАА ГҮНЗГИЙРҮҮЛНЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/15     “ВИЗ МЭДҮҮЛЭГЧИД ВИЗИЙН МЭДҮҮЛГЭЭ БӨГЛӨН, ТОВЛОСОН ЦАГТАА ЯРИЛЦЛАГАДАА ОРНО” WWW.EGUUR.MN НИЙТЭЛСЭН:2026/01/15     БНХАУ-ТАЙ ХАМТРАН ХИЛ ОРЧМЫН БҮСЭД ГЕОЛОГИЙН СУДАЛГАА ХИЙХЭЭР БОЛЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2026/01/15    

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Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2025 London UK MBCCI London UK Goodman LLC

NEWS

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What Will Drive Mongolian Politics and Economy in 2026? www.thediplomat.com

2025 was a tumultuous year for Mongolia’s politics and economic endeavors. With increasing numbers of intermittent protests in the nation’s capital, Ulaanbaatar, Mongolia saw political instability, corruption, and social distress. In the upcoming  year, it will be pivotal for the Mongolian government to tackle these issues to avoid further hindrance of the country’s economic potential. 
Increasing Political Instability and Social Distress 
Mongolia experienced several moments of political and social distress in 2025. In May, the collective action of Mongolia’s youth succeeded in ousting the coalition government led by Oyun-Erdene Luvsannamsrai, citing corruption, lavish lifestyles, and failure of transparency. The fall of the coalition government then created a deeper political spat within the Mongolian People’s Party (MPP) and incited a constitutional crisis. 
Following the ousting of Oyun-Erdene’s coalition government, the incumbent Prime Minister Zandanshatar Gombojav, too, was removed from office by a parliamentary vote. Mongolia’s newly assembled 126 members of the State Great Khural were propelled to cope with the outcome of an unstable executive branch. 
Finally, after weeks of political shenanigans within the MPP, the Zandanshatar government was reinstated in late October. The State Great Khural then reviewed new state budget proposals and new ministers. In mid-December, the Office of the Prime Minister announced 16 new deputy ministers. The Democratic Party (DP), opposing such a large government, has demanded that the appointments be revoked, threatening to push for a dismissal of the government.
The combined effect of all this political movement obfuscates the very fabric of Mongolia’s good governance, political stability, and social and economic progress. 
Since early fall, Mongolia has experienced several workers strikes and protests. Educators and medical workers have protested intermittently throughout the political fiasco. Between September and November, approximately 59,000 people protested regarding a diverse array of social issues.
In the last decade, Mongolia has experienced regular strikes and protests. While this showcases the country’s democratic assembly, it also demonstrates that corruption, air pollution, and the other social issues which drive people into the streets have become a solid part of modern Mongolia’s society. 
In an effort to win the hearts and minds of the Mongolian populace, in November, the newly (re)established Zandanshatar government announced its 2026-2030 Five-Year Development Plan for Mongolia. The five-year plan to aims boost the country’s economy, tackle corruption, increase and improve Mongolia’s investment portfolio. Domestically, the Zandanshatar government aims to focus on investing in human capital, education, and science and technology. On the economic front and foreign engagements, the government aligned its development plans with Vision 2050, Mongolia’s long-term development document, authored by the previous Oyun-Erdene Luvsannamsrai administration. 
On December 22, 2025, Mongolian citizens gathered outside the Mongolian Parliament building demanding action on the worsening fuel shortage and rising living costs. There have been reports that Orkhon and Bulgan province residents are traveling to Khuvsgul to get fuel. The protest came at a time when the Zandanshatar government has appointment deputy ministers despite its promise to reduce government spending. Local media reported that the protest leaders demanded the government to make progress within a week. 
Strengthening Mongolia’s Foreign Relations Regionally and Globally
Despite domestic political squabbling, the Zandanshatar government’s economic strategy looks to expand economic links with its two neighbors — Russia and China — while attracting diverse, but sectoral investments from third neighbor partners. 
In November, after being newly reinstated by the Parliament, Zandanshatar attended the Shanghai Cooperation Organization (SCO) Heads of Government Council meeting in Moscow, Russia. 
Zandanshatar’s attendance was an important step in prioritizing regional partnership, starting with its two neighbors. Ulaanbaatar’s comprehensive strategic partnership with both Beijing and Moscow strives for a strengthened economic engagement, unlocking potential cooperation mechanisms vis-à-vis SCO member states as well as at a bilateral and trilateral level. Zandanshatar held separate bilateral meeting with the Russian President Vladimir Putin and Chinese State Council Premier Li Qiang.
During the Zandanshatar-Putin meeting, the two leaders focused on an economic integration, including Mongolia’s temporary three-year Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU). On December 19, the Federal Council ratified Mongolia’s FTA with EAEU. 
In the fall of 2025, Ulaanbaatar experienced intermittent fuel shortages despite the government’s claim to have a guaranteed supply from Russia. One of Zandanshatar government’s priorities with his Russian counterpart was ensuring a continued supply of diesel fuel. During the recent 27th Mongolia-Russia Intergovernmental Commission meeting that took place in Ulaanbaatar, Russia committed to doubling fuel supplies to Mongolia starting January 2026, after acknowledging implementation challenges. 
While Mongolia-Russia’s energy relations have a long history, the fact that Mongolia continues to experience fuel shortage as well as having only a 30-day guarantee is a major vulnerability. These experiences once again demonstrate the dire need for energy diversification, so Mongolia can secure its own supply in the event Russia decides to prioritize domestic usage.
During the SCO meeting, Zandanshatar also held bilateral meeting with Chinese Premier Li Qiang. During those talks, Mongolia proposed increasing coal exports from Mongolia to China to 100 million tonnes. In 2024, Mongolia’s coal export to China reached all-time high, 83.7 million tonnes of coal. 
Since the Oyun-Erdene government, Mongolia has been implementing what is called a parallel approach to Beijing’s development vis-à-vis Belt and Road Initiative and other projects. The parallel approach — in essence — aims to better connect Mongolia-China investment and trade in a particular sector that can be beneficial for both countries. 
During the meeting Li stated, “China is willing to strengthen the alignment of development strategies and enhance cooperation in traditional fields such as mineral and energy resources, infrastructure, and connectivity to forge more drivers for interest convergence and cooperation.” 
Mongolia and China both emphasized the importance of “mutually aligning the development and construction plans, such as the cross-border railway at Shiveekhuren-Sekhee, Khangi-Madal, and Bichigt-Zuunkhatavch.” In the upcoming years, the two governments plan to boost cooperation in green energy and digital economy. 
Moreover, within the scope of the SCO and Mongolia-Russia-China trilateral relations, Power of Siberia 2 is a major cooperation mechanism currently pending. During the November SCO meeting, the parties endorsed the 2026-2030 Action Plan, which included the Power of Siberia 2 gas pipeline. 
Alongside Mongolia’s strong commitment and desire to accelerate comprehensive strategic partnerships with its only two neighbors, Ulaanbaatar’s third neighbor partnerships and cooperation mechanisms continue to expand. It will be pivotal for the Zandanshatar government to strengthen these links politically, economically, and culturally. 
From a regional standpoint, Mongolia’s third neighbor relations with South Korea and Japan are likely to expand in the next few years. Both Japan and South Korea have shown immense interest in cooperating in Mongolia’s rare earth minerals. Mongolia’s vast natural resources will become an economic incentive for its partners, but it also serves as a strategic significance for Ulaanbaatar’s foreign policy. 
The Zandanshatar government will need to prioritize democratic and technologically advanced “third neighbors” such as Japan, South Korea, the United States, India, Germany, France, and Australia. These partnerships are crucial and will play an increasingly important role in diversifying Mongolia’s energy sector and improving green economy. 
For example, in 2025, Mongolia and South Korea held  a strategic forum to expand cooperation in critical minerals and research. In a significant move to secure supply chains for its high-tech industries and manufacturing, South Korea launched the Korea-Mongolia Rare Metals Cooperation Center in Ulaanbaatar on December 12, 2025. 
Navigating Emerging Challenges: Mining, Corruption, and Foreign Influence
In December, the Mongolian Parliament launched its first-ever investigative public hearing on Oyu Tolgoi (Mongolia’s largest copper mining site) headed by MP Batnairamdal Otgonshar. The three-day public-hearing examined Mongolia’s interests regarding the ongoing lawsuits with the mining conglomerate Rio Tinto. 
The investigation involved state ownership and licenses, loan interest rates, management fees, and benefit distribution. Mongolia’s Oyu Tolgoi mining will be the world’s fourth largest copper mine when completed in 2030. The government has been under domestic pressure to ensure that all agreements and deals reflect and protect Mongolia’s national interest. That does not mean a populist cash handout with the financial gains that come from Oyu Tolgoi; the benefits must be translated into a tangible asset that the Mongolian populace can utilize. 
2024 research indicated that “in 2024, 26.0 percent of Mongolia’s population experienced multidimensional poverty, with deprived individuals lacking, on average, 36.8 percent of the 15 selected indicators. The most common challenges facing the multidimensionally poor relate to sanitation, internet access, health insurance and housing conditions, whereas school attendance and years of schooling are less prevalent.” 
The benefits from Mongolia’s natural resources need to help solve these challenges. 
In order for the Zandanshatar government to attract foreign direct investment, the government will need to tackle corruption. Despite’s Mongolia’s efforts, the country’s position in the Corruption Perception Index has not improved since 2019. Unless the Zandanshatar government takes a bold step and solves major cases such as the 2022 coal thief case, the green bus embezzlement, and other publicly known civil cases, the capabilities and independence of Mongolia’s judiciary will be increasingly questioned. 
2026 will be a pivotal year for Mongolia’s international relations. It has been 15 years since Mongolia’s National Security Concept (2010) was adopted, followed by the Foreign Policy Concept (2011). Since then, the regional and global geopolitical landscape have shifted and as a result, Mongolia must update its concepts and the ways in which it tackles emerging issues. Given Mongolia’s digital society, disinformation and cybersecurity have become a challenge as the country strives to become a digital nation. 
On December 18, research was released on Russia’s disinformation campaign in Mongolia and how that impacts the social media space. What the research showed at large was that Mongolia’s open society has become a victim of disinformation. The research also showed that because of Mongolia’s digital presence, it has become a hub for foreign influence and information gathering. The Mongolian government will need to address these issues while delicately balancing foreign influence on Mongolian soil. This goes without saying, but the Mongolian government will need to establish a working mechanism that protects the Mongolian people’s right to expression and perspective on all foreign and domestic matters. 
By Bolor Lkhaajav

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Mongolia 2025: Mapping foreign policy and political change www.insidemongolia.mn

2025 was marked more by the President's outbound foreign visits than by the reception of high-level foreign state guests in Mongolia. During the year, the heads of state of Austria, Turkmenistan, Uzbekistan, Japan, and Australia paid official visits to Mongolia, while President U.Khurelsukh conducted official visits to 10 countries.
As a result, Mongolia established comprehensive partnerships with the Czech Republic, Poland, and Kyrgyzstan, and elevated relations to strategic partnerships with Turkey, India, and Italy. This brought the total number of Mongolia’s strategic partners to 10 countries.
 Most Recent Milestone: On December 1, President Khurelsukh paid an official visit to Italy, elevating bilateral relations to a strategic partnership. Italy thus became the second European country to establish a strategic partnership with Mongolia, marking progress toward higher-level relations with all G7 countries.
Special Summit
Furthermore, on September 2, the 7th trilateral summit of the heads of state of Russia, China, and Mongolia was held in Beijing, where the 3 sides finally agreed to move forward with the Power of Siberia II gas pipeline project. The previous trilateral meeting had taken place in Samarkand, Uzbekistan, in 2022.
 Mass Replacement of Ambassadors
In the final stretch of 2025, the President recalled 21 ambassadors and submitted proposals for new appointments to Parliament, all of which were reviewed and approved during parliamentary sessions. Most of the recalled envoys had been appointed in 2021, meaning their 4-year terms concluded this year, prompting a broad diplomatic rotation.
Among those recalled was A. Tumur, who had been implicated in a murder case. He was replaced by V. Oyu, a career diplomat with 30 years of service.
Political Bureau Developments
Domestic politics in 2025 were largely defined by internal power struggles within the Mongolian People’s Party (MPP). In the first half of the year, youth-led protests lasted 21 days, demanding the resignation of then Prime Minister L.Oyun-Erdene following public outrage over the extravagant lifestyle of his son and daughter-in-law. On June 3, L.Oyun-Erdene resigned, bringing down the coalition government with him.
On June 13, G.Zandanshatar was appointed Prime Minister, only to resign 127 days later. His resignation coincided with that of D.Amarbayasgalan, his rival in the race for the Mongolian People’s Party (MPP) leadership. In an unexpected turn, both contenders withdrew from the party leadership race on the same day, creating a rare and unprecedented situation in which 2 of the country’s 3 top political leaders stepped down simultaneously.
In the second half of 2025, divisions within the ruling party became increasingly visible. The outgoing Prime Minister challenged the move legally and politically, and ultimately survived after a presidential veto, narrowly retaining his cabinet. However, resignation calls resurfaced once again due to controversy surrounding the appointment of 16 Deputy Ministers.
Presidential veto: Due to persistent internal turmoil within the MPP, his own party, 2025 saw the President become active in exercising veto power, arguably the most effective tool at his disposal throughout the year. Notably, on September 24, he partially vetoed a parliamentary resolution related to the launch of the “Gold-3” campaign, ahead of the veto that ultimately kept G.Zandanshatar in office.
Protests and Civic Movements
Against the backdrop of intense political infighting, civic activism remained vibrant. Major demonstrations included the “Resignation Is Easy” protest calling for the Prime Minister’s dismissal, the counter “Let’s Take Back Ukhaa Khudag” protest, as well as doctors’ and teachers’ strikes and wage-increase demonstrations in the second half of the year.
Finally… Kudos to Mongolians who once again demonstrated remarkable political endurance in a year defined by turmoil and serial disappointments from those in power. In the span of 12 months, the country came close to cycling through 3 Prime Ministers and 2 ruling party leaders, a feat few democracies could match.  
2025 will be remembered less for policy outcomes and more as a year of highly engaging political theatre. One can only hope that in 2026, policymakers retire their internal battles and power struggles, and finally turn their attention to the work they were elected to do.

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Mongolia launches 24/5 OTC securities trading www.posttrade360.com

Mongolia has moved its over-the-counter (OTC) securities market to a 24-hour trading model. The transition was made possible by blockchain OTC technology from AND Global Group, with the firm claiming that Mongolia is now “the first country in the world to execute regulated securities trading using blockchain infrastructure”.
The firm has been testing its OTC trading system in a sandbox environement run by Mongolia’s Financial Regulatory Commission (FRC) for 18 months prior to launch. Trading operations are supervised by the Mongolian Association of Securities Dealers (MASD) while the country’s CSD helped develop payment settlement automation.
The FRC first announced plans to transition the OTC market to blockchain technology in September 2025 – in the three months between the announcement and launch, secondary market trading activity has increased by 40%.

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The legendary sleeper train connecting 3 countries in 7 days crosses 8 time zones www.mirror.co.uk

The Trans-Siberian Railway in Russia is the longest railway journey, traversing three countries and two continents, taking holidaymakers to some of the world's most secluded spots. The train links Russia, Mongolia and China on a continuous journey across eight time zones.
The classic Trans-Siberian journey takes seven days, connecting Moscow to Vladivostok over a distance of 9,258km (6,152 miles).
Other routes include the six-day Trans-Manchurian trip from Moscow to Beijing, a five-day journey to Ulan-Bator, and the shortest route, the Trans-Mongolian, which runs from Moscow to Beijing via Mongolia.
Ticket prices range from roughly $120 (£88) for a standard ticket to $1,000 (£740) for first class travel.
Russian Train stated: "As soon as it was built at the beginning of the 19th century, the Trans-Siberian Railway was proclaimed the finest of the diamonds on the crown of the Russian Empire and became famous to the whole world.
"Since then, it has been attracting many travellers striving to see the miracle of engineering and to experience the peculiar way of journey.
"At the same time, the Trans-Siberian regular trains are mostly used by locals for their commuting needs, so it is an excellent way to meet the real people and feel the pure soul of the country."
The Trans-Siberian Railway presents holidaymakers with "absolutely incomparable landscapes", making the journey a truly unique adventure.
One traveller reviewed the train trip on Tripadvisor as a "unique, unforgettable journey", while another described it as a "fascinating experience".
"My wife and I crossed off our list one of these 'must-do in our lifetime' items, which was the Trans Siberian Railway. Time flies on the train, I barely read one book in four days, the rest of the time stared out of the window; Russia by train is fascinating!"

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Mongolia Celebrates Restoration of Its Independence www.montsame.mn

Mongolia celebrates the victory of the National Liberation Movement and the restoration of its independence, as a public holiday.
On December 29, 1911, Mongolia restored its independence after more than 200 years of Manchu rule through a national movement known as the 1911 Revolution. The Mongolian people enthroned the VIII Bogd Jebtsundamba Khutugtu as the Theocratic Monarch and a government, headed by Bogd Jebtsundamba Khutugtu was established. This government consisted of five ministries: internal affairs, foreign affairs, military affairs, finance, and judicial affairs. 
Having laid the foundation for the revival of Mongolia, the 1911 Revolution is an event of utmost significance in the history of modern Mongolia and a proud historic moment to be remembered and cherished by future generations. The liberation of Mongolia in 1911 is considered to have necessitated the 1921 People’s Revolution, by fulfilling Mongolia’s long struggle to restore national freedom.
The Day of the National Liberation Movement and Independence has been celebrated as a public holiday since 2011 in accordance with the Law on Public Holidays and Celebrations.

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Livestock Numbers Up 0.8 Percent, Herder Households Down by 1,600 www.montsame.mn

The National Statistics Office of Mongolia organized a nationwide livestock census on December 7, 2025, and has presented its preliminary results.
According to the preliminary findings, Mongolia recorded 58.1 million head of livestock at the end of 2025, an increase of 445,100 head, or 0.8 percent, compared with the previous year.
By species, horses increased to 5.1 million, up 9.5 percent, leading overall growth. Cattle rose to 5.4 million (+7.2 percent), camels to 501,300 (+4.3 percent), and goats to 23.2 million (+1.1 percent). In contrast, sheep declined by 2.6 percent to 23.9 million head. Sheep account for 41.1 percent of the total herd, followed by goats (39.9 percent), cattle (9.4 percent), horses (8.8 percent), and camels (0.9 percent).
By aimag, Khuvsgul ranked first with 5.3 million head, followed by Uvurkhangai (5.1 million), Arkhangai (4.4 million), Bayankhongor (4.2 million), and Tuv (4.1 million). Livestock numbers increased by 10,300 to 325,000 head in Umnugobi, Sukhbaatar, Bayankhongor, Arkhangai, Khentii, Dornogobi, Dundgobi, Khuvsgul, Dornod, Gobisumber, Zavkhan aimags, and the Capital city. Declines of 6,300 to 354,500 head were recorded in Selenge, Uvs, Khovd, Gobi-Altai, Bayan-Ulgii, Darkhan-Uul, Tuv, Orkhon, Bulgan, and Uvurkhangai aimags. Nationwide, Umnudelger soum of Khentii aimag recorded the highest livestock number, with 532,100 head.
In addition, 313,000 herders were registered nationwide, of whom 58 percent (182,800) are men and 130,200 are women. Herders aged 35 and under account for 22 percent of the total. While a proportion of herders carry loans, another proportion pays social insurance contributions.
The number of households owning livestock reached 247,900, a decrease of 1,600 households from the previous year.

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Over 850,000 Tourists Visit Mongolia This Year www.montsame.mn

 A total of 851,931 foreign tourists visited Mongolia since the beginning of this year, representing a 5 percent increase compared to the same period of the previous year, the Professional Tourism Association reported.
In December, 43,946 tourists arrived in Mongolia, including 15,604 visitors from the People's Republic of China, 13,260 from the Russian Federation, and 2,905 from the Republic of Korea. The growth in tourist numbers is attributed to the recovery of the tourism market, the effectiveness of international promotional activities, and the increase in the number of international flights.
In terms of seasonal distribution, the highest number of tourists was recorded in July and August.

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Draft tax reform package up for parliament submission www.ubpost.mn

At its regular session of the cabinet meeting, the government decided to submit to parliament a comprehensive draft tax reform package, including amendments to the General Tax Law, Corporate Income Tax Law, Personal Income Tax Law, Value Added Tax Law, and related legislation.
The reforms aim to stimulate economic growth while protecting citizens’ incomes, supporting employment, and promoting housing development. Under the proposed changes, citizens would receive VAT refunds on purchases: 100 percent for spending up to 500,000 MNT per month, 50 percent for spending up to 1 million MNT, and 20 percent for amounts above that. Additionally, employees earning up to the minimum wage or a maximum of 500,000 MNT per month would receive full income tax refunds.
The bill also introduces measures to simplify taxation and promote fairness. The threshold for reporting business income will rise to 400 million MNT, and certain taxpayers will benefit from tax breaks. Up to 15 million MNT in tax incentives will be offered for citizens relocating from Ulaanbaatar to rural areas and for investing in energy-efficient, accessible, and eco-friendly buildings.
Corporate tax reforms include reducing the corporate tax rate, raising the threshold for the 25 percent tax rate from 6 billion to 10 billion MNT, and lowering profits tax for income between 6 and 10 billion MNT to 15 percent. Support for small and medium-sized enterprises (SMEs) includes increasing the threshold for one-percent tax from 1.5 billion to 2.5 billion MNT for three years and allowing simplified VAT payment for businesses with annual revenue under 400 million MNT. Companies can also deduct expenses for employee training and development and offset VAT for certain purchases and international services.
The reform package emphasizes taxpayer support and transparency. Measures include pre-prepared tax reports, advisory services, online and classroom training, and a 24-hour AI-powered information system. Tax authorities will monitor compliance levels, provide opportunities to correct errors, and allow flexible payment schedules for compliant taxpayers. Taxpayers in financial difficulty may have up to 80 percent of their bank accounts frozen rather than fully blocked, ensuring business continuity. The government and the parliamentary working group conducted extensive public consultation throughout 2025, receiving around 180,000 proposals from over 13,000 citizens and businesses, with more than half requesting tax reductions, exemptions, or deductions.

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Mongolia Launches World's First 24/5 Blockchain-Based Securities Trading www.kipost.net

Powered by blockchain technology developed by AND Global Group, Mongolia's over-the-counter (OTC) securities market has officially transitioned to 24-hour continuous trading model, marking a historic milestone in global financial markets.
The blockchain trading system was successfully tested for 18 months in the Financial Regulatory Commission's sandbox environment before going live. It now enables continuous trading 24 hours a day, 5 days a week (24/5), with automated settlement completing transactions in under a minute.
The Financial Regulatory Commission originally announced the transition of the OTC market to blockchain technology on September 12, 2025, during the "Mongolia's Capital Market Connectivity 2025" international conference in Ulaanbaatar. Today's launch of 24-hour trading operations represents the next phase of this transformation.
In the three months since the blockchain transition, secondary market trading activity has increased by 40 percent. This growth is attributed to the efficiency of instant, automated payment settlements, and market liquidity is expected to surge further under the newly launched 24/5 continuous trading schedule.
The Mongolian Association of Securities Dealers (MASD) manages the OTC market's operations, while the underlying technology was developed and implemented by the Mongolian fintech firm AND Global Group through its subsidiary AND Denode. Payment settlement automation was achieved through a strategic collaboration with the Mongolian Central Securities Depository (MCSD).
By successfully integrating blockchain into securities trading, Mongolia is not only making its domestic capital market more efficient and secure but also contributing to the advancement of global financial innovation.

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Construction of Oil Refinery at 50 Percent Complete www.montsame.mn

Mongolia is building its first major oil refinery in Altan Shiree soum of Dornogobi aimag with a soft loan worth about USD 1.7 billion from the Export-Import Bank of the Republic of India.
The construction work is being carried out in four phases, and as of today, the project is 50 percent complete. In addition, the crude oil pipeline project is 90 percent complete, reported Executive Director of Mongol Refinery LLC Altantsetseg Dashdavaa. In accordance with the intergovernmental agreement between the two countries, the plant is scheduled to become operational in 2028.  However, due to the government and the Ministry of Industry and Mineral Resources’ efforts to accelerate the construction, it is planned to be commissioned a year ahead of schedule.  
Minister of Industry and Mineral Resources Damdinnyam Gongor said, “During the fuel and oil products crisis, Mongolia relies 95 percent on Russia and 5 percent on China — in other words, we were fully dependent on foreign suppliers. The way out of this dependence is to build a domestic oil refinery. Once the plant becomes operational, Mongolia will be able to meet about 50 percent of its domestic demand for oil products. The main challenge now is securing raw materials. Our ministry is focusing on this issue, and we plan to hold talks with PetroChina to find a solution.”
As of today, construction of the pipeline racks for the primary processing facilities and the foundation concrete work for the furnaces of the atmospheric and vacuum distillation units have been completed. Meanwhile, installation works are continuing on the pipeline racks, substations, and buildings intended for control and server operations within the auxiliary and support facilities.
In addition, officials reported that construction of the storage tank park, pipeline racks, substations, and the foundations for the plant’s power plant control system and substation buildings is underway, with the main structural works nearing completion. The majority of the plant’s technological equipment is being manufactured by nearly 20 companies in India.

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