Aug 28, 2024 48 min read Daily News Summaries

Mongolia News Summary for August 28, 2024

The following news articles are the opinions of their authors and publications. They are presented here as translations for informational purposes and do not necessarily represent the opinion of Mongolia Strategy Center or its members.

Today's Stories

Politics

State Great Khural: Continue the Initial Deliberation on the Law Concerning the Budgetary Framework and Budget Estimate

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The meeting of the State Great Khural is continuing the initial deliberation on the draft law to amend the law regarding the 2024 budgetary framework and the budget estimates for 2025-2026. Last Friday's assembly meeting was discussing the 2024 budgetary framework statement, the law on budget forecasts for 2025-2026, and the law on budget stability. The ruling party, the Mongolian People's Party (MPP), took a break in the session. During yesterday's party meeting, members announced they had consolidated their positions.

WARNING: When using any form of our information in media outlets (TV, radio, social networks, and web pages), always cite the source (ikon.mn).

Ch. Lodoysambuu: Let's be principled and straightforward, and be a good example for the new members

Published: Tue, 27 Aug 2024 | Translated from: itoim.mn

During the plenary session of the special meeting of the State Great Hural, the discussion on the 2024 budget amendment continues, and voting is taking place as per the procedural suggestions made at the Standing Committee. At this time, MP Ch. Lodoysambuu reminded experienced senior members to set a good example for the new members and urged the Speaker of the Parliament to work with principles and integrity.

He expressed, "I proposed to withdraw the tender law. I appreciate the members of the MPP who support this principle. I do not support the budget amendment in principle. There is no member here who wishes not to develop Mongolia. However, as a member of the State Great Hural, one must also ensure not to worsen the state of Mongolia. We should not make hasty moves under the name of rapid development that dismantle our core principles and lead the country towards high risks. From this standpoint, I proposed to withdraw this law.

"The Speaker of the Parliament just irresponsibly claimed that members do not understand the issues well. Since we are aware, we are raising issues, proposing to withdraw the law, and participating in the voting. However, it seems there is an interest within your party's group to keep us uninformed. We clearly see this. Specifically, the performance of the Secretariat of the Parliament is insufficient. Members are not being provided with information. How can the organization and equipment of the highest legislative body in Mongolia be like this? This should be addressed by the Speaker of the Parliament. They bring back proposals under the guise of procedural proposals and reject the accepted ones. Such unprincipled actions must stop. Although we are elected for the first time, this is not our first time observing the operations of the Parliament. I have been observing since 2007 as a parliamentary reporter. It wasn't like this. Members elected multiple times should stay principled and committed, and show this to the newly elected members. It's not right to set an example of deceit and trickery from the start for the newly elected members.

The Parliament has declared its principles and set its goals. For example, "Let's strengthen parliamentary democracy. Empower the parliament. Improve and strengthen the fundamental principles of human rights and freedoms." However, is it acceptable to start by acting without principles like this? Speaker of the Parliament, you should be principled and straightforward," he said.

Can't the Device Stuck Across Two Parliaments Be Fixed, Mr. Speaker?

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The parliamentary session is currently discussing the budget amendment and related legislative drafts. The newly formed parliament is supposed to discuss and approve these legislative drafts during the special session. However, the equipment has been hindering the fundamental activity of passing laws for quite some time. The issue regarding the voting equipment, which started during the previous parliament, continues to frustrate the members.

The issue is that once the Speaker of the Parliament reads the voting formula, members choose from the support or opposition buttons on their device. However, even if the support button is pressed, the member's name often appears on the screen among opposing members. In this case, the member raises a procedural request to conduct another vote.

This is a technical issue related to the operation of the voting equipment. Such issues were rampant during the tenure of former Speaker G. Zandanshatar, who constantly reminded the Secretariat of the Parliament to pay attention to it, making it a repetitive admonition.

The state's highest legislative body, which resolves issues through voting, faces voting equipment glitches spanning two parliaments.

In addition to these technical glitches, there are instances where the Speaker and members deliberately disrupt the equipment themselves.

For instance, if there isn't a quorum for the vote, the issue may not pass. Legislative drafts that need to proceed due to the ruling party’s policy often stumble during parliamentary voting. In such cases, there is a "tradition" where a member claims, "I was late for the vote, registered an opposing vote, the equipment froze," leading to another procedural vote being requested.

With these issues, new members raised concerns, and the Speaker responded.

Member of Parliament B. Batbaatar: There isn’t actually a technical issue. It's just that the rejected votes are being forcibly resurrected through procedural requests.

Member of Parliament B. Jargalan: We've started displaying irrational behavior during our special session. Last Friday, there was a vote to return the drafts of the Budget Framework Statement and the Budget Stability Law to the Government, the initiator. The Parliament made a decision with a ratio of 56:51. However, a group took a break and invalidated the Parliament's decision with a procedural request. This shouldn’t become a norm.

Member of Parliament Ch. Lodoiisambuu: The Secretariat of the Parliament is not working satisfactorily. Members are not provided with information, and organizing sessions is failing. If the top legislative body is organized this way, what can be done? The Speaker should pay attention to this matter.

Getting rejected votes risen back or dropping the supported votes through procedural votes should be stopped. Long-elected members should be principled and firm.

Member of Parliament B. Munkhsoyol: Although I supported the vote, my name appeared in opposition on the screen. Please invalidate this vote and conduct another one. Voting has become a matter of luck.

Member of Parliament R. Erdeneburen: Before even touching the device, a red light appears. Even if I can’t do it, four other people couldn’t manage it. The red thing appears from below, making it unusable.

Speaker of Parliament D. Amarbaysgalan: Members aren't getting used to operating their devices appropriately, leading to errors during fingerprint recognition, and they can't participate in the voting. Therefore, repeat voting is conducted through procedural requests. If members learn to handle their devices correctly, there would be no need to conduct voting repeatedly.

If the equipment is frozen, it will affect everyone alike. Requests such as "I was late, couldn’t vote, couldn’t have my fingerprint recognized by the device" are being raised due to personal operation issues, leading to accepting procedural requests and conducting the vote.

Leaders of "small" parties with seats in parliament will be included in the council under the Speaker of the Parliament

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The Civil Will Green Party held a briefing yesterday. During the briefing, the party's leader B. Batbaatar stated, "The council under the Speaker of the Parliament comprises only members of the MPP and DP. This council discusses important issues that are to be debated in the Parliament. However, representatives of other parties with seats in the Parliament are not part of this council and thus remain uninformed."

According to the Law on the Parliament of Mongolia, representatives of political parties with groups in parliament are included in the council under the Speaker of the Parliament. Thus, representatives of the MPP and DP groups are part of this council. However, other parties such as KNM, the National Unity Coalition, and the Civil Will Green Party do not have groups, so they have been left out of the council.

During today's parliamentary session, the Speaker of the Parliament D. Amarbaysgalan announced that leaders who have seats in parliament but do not belong to a group will be included in the council without voting rights.

Economy

Published: Tue, 27 Aug 2024 | Translated from: bloombergtv.mn

Mongolian Stock Exchange JSC recorded a net profit of 17.8 billion MNT after tax in the first half of 2024, which is an 8.5-fold increase compared to the same period last year. The company generated a total revenue of 23.9 billion MNT from its operations. Since the beginning of the year, the company's share price has increased by approximately 237%.

In the first six months, trading activity included 22.3 million shares of Mongolian Stock Exchange, with a total trade value of 4.2 billion MNT. The trading value in the first half of the year increased by 3.8 times compared to the same period last year.

As of June 28, the market valuation of the securities market reached 11.28 trillion MNT, an increase of 288.11 billion MNT or 2.62% over the same period last year.

During the reporting period, 15.54 million tons of mining products were traded, amounting to 6.1 trillion MNT in value. A total of 339 trades were executed, with coal trade making up 93.63% or 14,553,600 tons. Additionally, 980,000 tons of iron ore and concentrate, 6,000 tons of copper concentrate, and 4,355 tons of fluorite concentrate were traded.

During the 13th China Coal, Coke, and Steel Industry Summit held last week in Qingdao, China, the Mongolian Stock Exchange participated and agreed to begin cooperation on regularly exchanging market information on mining products and creating a special section for placing trading information on Mongolian mining products on the MySteel.com platform.

Erdenes Tavantolgoi JSC Fully Settles Payment for Bond "Tranche-2" Raised from Domestic Market

Published: Tue, 27 Aug 2024 | Translated from: itoim.mn

Erdenes Tavantolgoi JSC has fully settled the principal payment of 164.5 billion MNT and the interest payment of 8.2 billion MNT for the "Tranche-2" of the ETT bond issued on the domestic market with their own sourced funds.

The trading of the ETT bond "Tranche-2" was successfully organized on August 25, 2021, with the participation of 258 individuals and 5 enterprises, attracting a total of 164.47 billion MNT in bonds from 263 investors. The 1,644,711 MNT-denominated bonds publicly traded in the domestic market were fully settled on time using the company's own funds without refinancing.

G. Bilguun: SendMN Offers Low-Commission, Reliable, and Fast Money Transfer Services to Businesses and Organizations

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The team of the international money transfer company "SendMN BBSB" LLC has expanded its guaranteed financial services and introduced B2B money transfer services, marking a year and six months of operation.

G. Bilguun, the manager responsible for corporate transactions at "SendMN BBSB" LLC, stated that low commission and exchange rates in B2B services are important steps to support the operations of consumer organizations.

We continued our conversation about the money transfer services that have become an assistant in the financial relationships of business organizations.

- Could you introduce our readers to the inter-organizational money transfer service?

- Hello. In addition to personal money transfers (C2C), our company introduced money transfer services for entrepreneurs (B2B) in December 2023.

Our B2B service provides entrepreneurs with the following advantages. For example:

Low exchange rates and commissions
No commission for the first transaction
Fast and efficient
Reliable

Since the money transfers made by our customers are time-sensitive, speed is the most important factor.

- Reliability is a top priority in financial relationships. How do you ensure this principle?

- Indeed. Our company conducts official money transfer operations with permission from the Financial Regulatory Commission (FRC). We are ranked first among BBSBs operating in Mongolia and collaborate with leading international money transfer companies, which is a testament to the reliability of "SendMN BBSB" LLC.

- What advantages do individuals and organizations gain by choosing and using SendMN's services?

- The biggest advantage SendMN offers our customers is saving their precious time. We provide entrepreneurs with the opportunity to place money transfer orders and transfer money from anywhere at any time, without wasting time on city traffic or long queues for transactions.

Of course, the exchange rates, commissions, and time for the transaction to reach the recipient offered by our company create advantages over other organizations. Furthermore, the documents we issue are recognized in customs clearance and taxation in any country.

Our B2B service customers can make B2B transactions to seven countries without paying additional bank commissions:

Australia
Vietnam
South Korea
Turkey
Hong Kong
China
Japan

- Why are low exchange rates and commissions significant?

- Since our country is an importing rather than an exporting country, our entrepreneurs order their products in foreign currencies. Therefore, changes in exchange rates directly affect the prices of goods and services delivered to consumers.

Low exchange rates and commissions enable our entrepreneurs to save money and provide affordable goods and services to their end consumers.

- Thank you for the interview.

"ETT" Paid Off Its 164 Billion MNT Bond Along with Interest from Its Own Resources

Published: Tue, 27 Aug 2024 | Translated from: gogo.mn

"Erdenes Tavan Tolgoi" JSC has fully paid off the payment of the "Tranche-2" of the ETT bond issued on the domestic market along with interest using its own resources.

"Erdenes Tavan Tolgoi" JSC has fully settled the principal payment of 164.5 billion MNT and the interest payment of 8.2 billion MNT from its own resources for the "Tranche-2" of the ETT bond issued on the domestic market for a term of three years.

Successfully organized on August 25, 2021, the trading of ETT bond's "Tranche-2" attracted 258 individuals and 5 businesses, drawing a total of 164.47 billion MNT from 263 investors. The 1,644,711 units of MNT-denominated bonds traded openly on the domestic market were fully settled on time using the company's own resources without refinancing.

Source: ETT JSC

N. Enkhbayar: Let me remind you that the next downturn cycle is approaching

Published: Tue, 27 Aug 2024 | Translated from: itoim.mn

Last week, the Bank Association, the Ministry of Finance, and the Club of Economic Journalists held a discussion on issues surrounding the budget amendment. Let's present the viewpoints of independent analysts and economists who participated in this discussion.

Moderator: Looking at the budget proposal submitted by the government, how appropriate is it to increase the budget expenditure by three trillion? Why does it have to be increased by this amount?

There are many uncertainties in the budget amendment

Economist G. Bumchimeg: The budget has been expanded at a rather high rate. It has increased by roughly over 10 percent. Considering the high performance of the budget in the first half of the year, it seems it was increased accordingly. However, unplanned expenses are entering significantly, which poses a risk of accumulating economic risks in the coming years. Investment expenses are set to increase by 1.7 trillion and current expenses by 1.2 trillion. So, it seems that not only major projects but also current expenses will increase. Is it correct to increase the current expenses under the current conditions? Alongside the budget amendment, the government has brought in its operational plan for the next four years. The plan included the implementation of 149 projects worth 120 trillion. The previous government's plan was approximately 90 trillion. They increase the budget every year in the operational program. Yet, it is unclear which ones will be implemented and which ones will remain unimplemented. As someone from the economic sector, I tried to analyze and couldn't find details online about what specific amount is allocated to each item. 65 trillion are to be financed by the state budget, state-private partnerships, and loans and aids, while it is unclear where the remaining 55 trillion will be financed from. If we are to reach the debt ceiling, 20 trillion will be reached, but 35 trillion alone seems to be expected to come from the private sector. It is a very high amount for the private sector to bring 35 trillion MNT. They include large figures in the manifest when introducing it, but whether all these programs can actually be implemented is doubtful. The government's action program rates all directions as very important. If the financing is inadequate, it is unclear what should be prioritized. Legal reforms were supposed to take place, and projects were set to proceed. There should be specific documents detailing the criteria for projects; without that, it is doubtful how the operations will progress if merely approved generally.

Moderator: Where will these 3 trillion be mobilized from once expenses are increased? How to increase income? Could you clarify where Mongolia's debt ceiling stands if it is to be financed by loans and aid?

The head of the Financial Policy Department of the Ministry of Finance, L. Sonor: The debt ceiling is calculated as 60 percent using present value. Firstly, using present value to calculate debt is a method used by low-income countries. Our country has been classified as a developing country by the World Bank's methodology, so foreign debt will be calculated at nominal value. This will reduce the amount of debt the government can take. The debt ceiling has not been expanded at all. For foreign loan payments, 1 trillion is scheduled this year, and 1.5 trillion next year. Also, there are no plans to raise bonds externally in this year's budget.

The breakdown of the 1 trillion current expenses includes:

Budget for the oil refinery
Erdeneburen hydropower plant
Central wastewater treatment plant
"Solongo 1" residential area
Thermal power plants in 10 provinces, and others

These projects have existing loans from the government of India, the European Bank for Reconstruction and Development, and the Asian Development Bank.

Members of Parliament should first understand what developmental policy and energy revival mean

Chair of the Budget Stability Council and Economist N. Enkhbayar: The Budget Stability Council provides an independent assessment. There are many issues connected to the presented amendment. The budget alone is not a developmental policy. There is a separate law on developmental policy. They suddenly included developmental policy issues when discussing the budget. 14 projects are related to developmental policy. Deciding on how to finance these is supposed to be part of the five-year main direction under the Law on Development Policy and Planning. After that, they should be included in the State Investment Program. The required funds should be detailed by their sources. It must first be included in the medium-term developmental policy. A power plant cannot be built within a year. The issue of building power plants is a medium-term developmental policy issue. If they plan to alter the previously discussed developmental policy, it should be discussed first. They have not fully understood the budget amendment and developmental policy. The budget being submitted is not for any institution but for the Government of Mongolia. The authority to deliberation and approval lies with the State Great Khural, which determines the developmental policy. Therefore, many issues are violating the law. One of them is that the Budget Law states that a public discussion should be organized when submitting the budget. If the budget law was deliberated on the usual procedure, public discussion should be organized. It should be organized before submitting it to Parliament, not after. However, the Budget Stability Council is provided with three books containing all numerical information after it was submitted. Members of the State Great Khural cannot read, understand, and offer opinions on these three books within 14 days. Newly elected members, let alone professionals, need time to understand if the developmental policy and goals are rightly oriented and if the approach is correct. Parliament members should participate in the discussions, understand what developmental policy, medium-term developmental policy, and energy revival are before discussing the budget. We are trying to proceed in a hasty, rushed, fire-extinguishing manner.

Moderator: How much did you strive to mobilize budgetary reserves? Companies are under significant pressure from social insurance and income tax. Is there any tax change for companies related to the budget amendment?

The Head of the Financial and Budget Research Department of the Ministry of Finance, G. Zolboo: There is no increase in tax rates in the budget amendment. However, the draft law on amending the Law on Corporate Income Tax accompanies the budget amendment. According to the law amendment, companies recently tend to carry out large-scale projects within their social responsibility using their own funds. The law amendment proposed by the State Great Khural provides that when companies carry out certain construction projects, they be exempted from taxes up to 1% of their annual sales income. This includes environmental protection and restoration, cultural heritage protection, sports facilities, building state-owned kindergartens and schools, and investing in hospitals.

Moderator: For the first time, a parliament with 126 members was established, and a coalition government was formed. In connection with this, the discussion of the budget amendment seems political rather than economic, and on the other hand, issues related to construction and roads are included at the time our construction season is ending. How appropriate is it? Are the feasibility studies and project plans clarified?

N. Enkhbayar: The seasonal construction work periods are short. Looking at previously implemented projects, the period often prolongs beyond plans. Thus, all recent amendments are not just state budget issues. Developmental policy is also involved. Theoretical knowledge is needed when handling any issue. Developmental policy involves considering budget policy, monetary, loan, and financial policy, workforce, and energy, and then arriving at a developmental policy. Researchers unanimously agree that Mongolia's economy is cyclical, and foreign factors strongly influence the balance dynamics. According to the budget performance indicators, it is considered stable. Based on economic growth, it's estimated at 8, 6 percent. However, researchers have different opinions on this. Whether to take six percent or eight percent is beyond our decision-making. Our economy cannot decide. In the last twenty years, we have experienced three downturns. Based on the economic, business cycle, the next downturn is close. However, we assume it is stable. It is crucial to base any activities on comprehensive economic research. Negative consequences can arise when done in the short term.

A negative consequence of large-scale developments is the rapid growth of imports. Imports have grown by 26 percent in the first seven months of this year. If developments grow, imports will increase not by 26 but by 30 or 40 percent. This year's foreign trade payment flow is in deficit. By year-end, foreign trade might slightly increase. If imports grow rapidly after developments and income growth falls short of matching it, we will have a negative balance by 2026. With these matters in mind, we must discuss the country's developmental policy with a full perspective.

Let's boldly carry out developments to prevent foreign currency outflow

Researcher, Dr. V. Danaasuren: Looking at this year’s budget amendment, it seems they have reduced the funds to be deposited into the funds. In one aspect, keeping income is right. However, beyond keeping it, in order to save the future large expenses, it is right to reduce economic dependence by carrying out developments ourselves. For how long will we remain dependent on others? For example, every year, we import energy worth MNT 400 billion from foreign countries. Instead of paying MNT 400 billion annually, we should strive and seek possibilities to build Erdeneburen and other power stations over 2-3 years. If income is relatively good, we should courageously undertake priority projects and protect ourselves from large future expenses. Even when constructing buildings, we are primarily using imported products. Foreign currency goes out on all this. To prevent foreign currency outflow, let's boldly carry out developments. This government is commendable for saying this. It is crucial that developments they are bravely undertaking achieve results, and cooperation should be comprehensive. Collaborative control and participation are vital. This year’s budget amendment included many infrastructural and energy feasibility studies. Feasibility is crucial. Why? Without technical and economic justification, those developments won’t proceed. If quality feasibility is conducted, future risks will decrease.

Kim Jae Yeon: By 2030, Over 40 "TOUS les JOURS" Branches Will Be Established in Mongolia

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

"Artisan" LLC signed an agreement in 2016 with South Korea's "CJ Foodville" corporation, a subsidiary of the "CJ Group," to develop the "TOUS les JOURS" bakery network in Mongolia. Since then, over the past 8 years, a total of 19 "TOUS les JOURS" branches have opened in our country.

We spoke with Kim Jae Yeon, the Executive Director of "Artisan" LLC, about the brand’s future goals and vision.

I heard you recently arrived in Mongolia. Could you share your impressions of Mongolia and meeting your new colleagues?
Previously, Korea viewed the Mongolian market as very small, which I think was due to the lack of information about Mongolia. However, recently, we are hearing more news about Mongolia through social media and online platforms. This has led to an increase in South Koreans wishing to visit Mongolia.

For example, even YouTubers who have traveled to Mongolia have started recommending it as the next travel destination. Before this, Koreans imagined Mongolia as having vast steppes, where people ride horses, herd animals, and live a nomadic lifestyle. But since more information has been coming out on YouTube channels, they have understood that Mongolia is a developing country with a standalone city, Ulaanbaatar.

I personally arrived in Mongolia two weeks ago. As I traveled through Ulaanbaatar, I didn’t feel like I was in a foreign country because there were many historical sites, buildings, and Korean chain stores related to Korea. It felt like I was back in my home country. That might also be why, when I entered the office of "Artisan" LLC, the employees there felt like familiar people to me.

Additionally, many Mongolians speak Korean, and since the facial features are quite similar, it felt like being around siblings. I hope the cooperation between the two countries will continue to improve and develop further.

How did you accept the job offer to work in Mongolia?
The TOUS les JOURS brand has more than 470 branches abroad. I have been working for the TOUS les JOURS brand for a total of 15 years. I have experience working as a director in Vietnam and China for 8 of those years. The head office offered me three opportunities to work in Mongolia, Korea, and America, and I chose Mongolia. I wanted to go to Mongolia, work in a new environment, and see new opportunities. That's why I came to Mongolia.

The "TOUS les JOURS" branch in Mongolia is a "master franchise.” This is the first time that the head office has sent a specialist to a country where a "master franchise" has been established. Therefore, if I work successfully in Mongolia, there will be an opportunity for sending specialists from Korea to support other countries with master franchises.

The TOUS les JOURS brand has been in Mongolia for 8 years. During this time, while maintaining the brand’s colors and standards, it has probably incorporated some traditional styles and methods. How do you plan to develop the TOUS les JOURS branch in Mongolia during your time here?
TOUS les JOURS is an international brand. However, when opening in other countries, it is essential to maintain and promote the Korean TOUS les JOURS vibe. Therefore, while working here, I plan to maintain the Korean look but also find out exactly what the Mongolian people want and add that to our products.

Of course, Mongolian tastes are different from Korean tastes. Still, I think the atmosphere of each TOUS les JOURS branch globally should retain its core vibe and had local characteristics added to it.

Our country has vast areas. There are currently 19 TOUS les JOURS branches. Is there a possibility of opening branches in the local areas in the future? Can you provide information on this?
TOUS les JOURS aims to have 40 branches in Mongolia by 2030. There are plans to open branches in the cities of Erdenet and Darkhan, which are known as the 2nd and 3rd cities.

So initially, we will expand our network in the capital city as much as possible and then open branches in local areas.

How long are you planning to work in Mongolia?
I plan to work with the TOUS les JOURS team in Mongolia for a long time. During this time, I aim to develop the management system and enhance the skills of the employees of TOUS les JOURS Mongolia and ensure sustainable development and strengthen a culture of social responsibility.
Thank you for the interview.

The subscription progress of "InvesCore ABS" asset-backed securities reached 59.28%

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The Financial Regulatory Commission, in its meeting on August 2, 2024, granted approval to "Invescore BBSB" JSC to offer 50 billion MNT worth of ABS to the public. The primary market trading of "InvesCore ABS" asset-backed securities began at 10:00 AM on August 26, and by the end of the first day, the subscription progress had reached 59.28%.

"Investcore BBSB" JSC previously made history in the Mongolian capital market by successfully issuing its first open "Asset-backed securities" to the public in 2021, completing both the coupon and principal payment by January 2023.

"InvesCore ABS

Nominal price: 100,000 MNT
Annual interest rate: 17%
Term: 18 months
Interest payment frequency: Quarterly
Income tax on interest: 5%
Principal payment: 50% in the 12th month, 50% in the 18th month.

For more information: icapital.mn

Contact number: (+976) 7755-0077

Participate in trading: Ipo.icapital.mn

NSO: The Average Real Income of a Household Increased to 1.7 Million Tugriks, Up by 17%

Published: Tue, 27 Aug 2024 | Translated from: gogo.mn

The average real income of a household has increased to 1.7 million tugriks, showing a 17% rise, according to the National Statistics Office (NSO).

Within this, the real income from agricultural production decreased by 12%, while real salary income increased by 31%, which has been a major influence.

Meanwhile, the average real expenditure of a household reached 1.8 million tugriks in the second quarter of 2024, which is an increase of 216 thousand tugriks or 14% from the same period last year.

Breaking down the household expenditure, non-food goods and services accounted for the highest portion at 1.1 million tugriks.

Infrastructure

By Building a Highway Along the Tuul River, the Issue of Dangerous Cargo Transported Through the City Will Be Resolved

Published: Tue, 27 Aug 2024 | Translated from: gogo.mn

I support the budget revision in principle. We want to start solving many pressing issues for the country. For instance, we should complete our oil refinery and central wastewater treatment plant.

There is no other capital city like ours where dangerous goods and cargo are transported right through the city. Therefore, I believe that starting the Tuul highway could solve this issue. If we discuss the importance of budget revision, there are significant issues like this. Therefore, I support it.

I support the budget revision in principle. We want to start solving many pressing issues for the country. For instance, we should complete our oil refinery and central wastewater treatment plant.

The party groups held meetings and discussed their issues. Therefore, issues will be resolved through voting. After consolidating their understanding and information, members need to inform the public. MP G. Temuulen will now adhere to the rules.

The extraordinary session of the Parliament today has started.

In the unified session of last Friday, a break was taken to review three draft laws under discussion and to consolidate the group's stance.

First, continue the break for further consolidation and discussion on the draft amendment to the Law on Fiscal Stability, addressing issues related to budget planning, control, and economic security.
Second, regarding the draft amendment to the 2024 State Budget Law of Mongolia, it was changed to submit the year's budget draft to the Parliament by October 1 each year. However, most group members support the current provision of submitting it by September 1 while allowing time for audit conclusions and public discussion after submission.
Third, review the provision that may infringe on the exclusive authority of the Parliament to approve the state budget in the draft amendment to the Law on Procurement of Goods, Works, and Services with State and Local Government Property.

L. Munkhbaatar, head of the MPP group in the Parliament, requested a one-day break to continue discussing the draft amendment to the Law on Fiscal Stability. Speaker of the Parliament D. Amarbayasgalan accepted the request under the Parliament’s procedure law and extended the break until 10:00 AM on Tuesday.

G. Bayarsaikhan: Although the Company Selected for Repairing the Friendship Camp Road Has Prepared, Another Organization Filed a Complaint

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The international children's Friendship Camp's road, which was put into operation in 1978, has not been renovated since. The authorities had announced in July that the renovation of the 15.7 km road from the Tahiltin junction to the camp would be carried out for around 22 billion MNT, with a tender announced. However, road repair work has not commenced yet. We sought clarification from a senior official of the Capital City Road Development Agency (NHDG) on the reason for this.

NHDG head G. Bayarsaikhan stated, "The 'Total Inzh' company was selected for the Friendship Camp Road renovation tender. However, 'Max Road' company has filed a complaint. This company, which was ranked seventh, submitted a complaint about the company selected for the tender to the Ministry of Finance.

Documents and justifications regarding how the tender selection was conducted have been submitted to the Ministry of Finance. The tender selection was conducted in accordance with the law, and we stand by our work.

If the ministry sends an official letter to continue our work, the renovation of the Friendship Camp Road will begin. We have informed the Ministry of Finance about our urgency to complete the work before the cold season begins. Although the company selected for the tender had already completed its preparations for the road repair and renovation, a dispute arose.

When renewing the Friendship Camp Road, we will ensure a smooth overlay and base paving. If the road repair work begins, the congestion in the Bayangol area will be less affected, aiming for completion before October 1.

The camp director, B. Otgonbat, has requested us to promptly carry out the road repair and renewal.

Last Week, 32 Vehicles Were Found Not Inspected or Failed

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The Traffic Management Center (TMC) presented the violation statistics recorded from August 19-23. During this period, 32 violations of vehicles not being inspected or failing inspection, 1,408 violations of traffic signal breaches, and 2,802 violations of parking in prohibited zones were recorded. Furthermore, 2,201 violations were reported through the e-Police application.

Additionally, 33,970 instances of violations were found of vehicles traveling in the lane designated for direction-specific transportation or driving in the first lane.

The Transport Police Department (TPD) has announced that they are taking phased measures to prevent vehicles that are not inspected, have failed inspection, or lack technical completeness from participating in road traffic. This is because an average of 3-5 vehicles break down daily during transportation, creating artificial congestion.

Society

EVENT: International Conference on "Mongolian Buddhist Studies" to be Held

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

In School No. 23

09:30-10:00 AM: Due to the establishment of a legal environment for teaching English from primary school, an English language program will be trialed in the first 100 schools this academic year. Training for teachers who will teach English in the 3rd and 4th grades of the selected 100 schools will commence.

In the State Palace

10:00-11:00 AM: Standing committees will hold meetings.

10:00 AM: An extraordinary session of the Parliament will be held.

In the Central Library of the National University of Mongolia (NUM)

10:00 AM: The Department of Philosophy and Religious Studies of NUM, the Gandan Monastery of the Center of Mongolian Buddhists, and the International Society for Mongolian Studies will jointly organize an international conference on "Mongolian Buddhist Studies."

Warning

Please note that media organizations (TV, Radio, Social, and Websites) must mention the source (ikon.mn) when using our information in whole or in part in any form!

A Fire in Bayanzurkh District Claims the Life of a 13-Year-Old Child

Published: Tue, 27 Aug 2024 | Translated from: itoim.mn

A fire in Bayanzurkh District has resulted in the death of a child.

Specifically, the General Emergency Management Agency received a call at 03:54 on August 27, reporting a fire in the ger district of the 8th microdistrict in Ulaanbaatar’s Bayanzurkh District. When officials from the 63rd Firefighting and Rescue Unit of the district’s Emergency Management Department arrived at the scene, they found a five-wall ger belonging to a citizen, Z, and a 2x4 meter shed engulfed in flames. Tragically, a 13-year-old male child, who was alone inside, was caught in the fire and perished. The body was subsequently recovered and handed over to the police authorities.

Residents and the public are urged to exercise caution and take preventive measures to avoid potential fire hazards.

Agreement Reached to Implement a Project to Develop a Methodology for Poverty Reduction with the UN Development Program

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

Deputy Prime Minister and Minister of Economy and Development L. Gantomor met with representatives led by the UN Development Program's Director for the Asia-Pacific region, Kanni Wignaraja, and the UNDP's Resident Representative in Mongolia, Matilda Dimovska, to exchange views.

During the meeting, the parties agreed to cooperate on improving human development indicators, developing methodologies for poverty reduction, diversifying green loans and financing, and incorporating technical technology and innovation issues into green transition policy, as well as implementing a technical assistance project.

The Minister of Economy and Development emphasized the importance of introducing passive technology and carbon credits.

The UN Development Program expressed its professional support to align government goals and activities with international methodologies and standards.

WARNING: House Fire Leads to the Death of a 13-Year-Old Child

Published: Tue, 27 Aug 2024 | Translated from: gogo.mn

In the capital city, two fire incidents were reported last night, and sadly, a 13-year-old child perished in the fire. Specifically, at 3:54 AM, a report was received about a house and enclosure on fire in the 8th subdistrict of Bayanzurkh district.

Following the report, officials from the Firefighting and Rescue Unit No. 63 of the Bayanzurkh District Emergency Department arrived on the scene to extinguish a fully burning five-walled traditional dwelling and a 4x2-meter shed. The fire claimed the life of a 13-year-old child.

Recently, there has been an increasing trend in fire reports. Accordingly, the City Emergency Department strongly advises citizens to ensure the fire safety of their homes and apartments, to avoid electrical overloads, and to prevent children from being left alone in locked homes unsupervised, to avoid fire hazards.

Source: NEMA

Two Incidents Involving Children in Fire and Water Accidents Reported Yesterday

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

Yesterday, authorities reported that one child died in a fire, and another child is being searched for following a water accident.

According to the National Emergency Management Agency (NEMA), a call was received at 03:54 on August 27, reporting a house fire in Bayanzurkh District of the capital. When firefighters from the Bayanzurkh District Fire and Rescue Unit 63 arrived, a five-walled ger (traditional tent) and a 2x4 meter shed were on fire, which they managed to extinguish.

A 13-year-old male child was found deceased in the fire, and his case has been handed over to the police department.

The other incident occurred in the countryside in Binder soum, Khentii aimag, where a call was received at 16:00 reporting that a young child had drowned while playing in the "Onon" river. Officials stated that the search and rescue team from Bayan-Adraga soum of Khentii aimag is conducting a search operation for the five-year-old boy.

Source: NEMA

WARNING: A Hunting Rifle Malfunctions, Injuring Citizen

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

A hunting rifle malfunctioned, resulting in a citizen injuring themselves.

Regarding this incident, Senior Lieutenant B. Urantsatsral, editor of the Press and Public Relations Department of the Police General Authority, stated, "On August 19 of this year, in the territory of Murun soum, Khuvsgul aimag, citizen E was using a hunting carbine rifle when a malfunction occurred in the firearm components, causing self-injury.

The police are investigating this incident.

It is advised that individuals and legal entities ensure the safety of firearms when owning, using, and storing them," the statement read.

Firearms Law:

A person who is 21 years old, with full civil legal capacity, who has participated in a safety operation training for owning, using, and storing firearms, and has received a certificate, as well as employees, environmental guards, and legal entities with the right to conduct guard operations can be given firearms during the execution of official duties under contract by the competent state organization.
The police organization organizes the safety operation training for owning, using, and storing civilian and security firearms, and the chief of the central police organization approves the training instruction.
A person owning, possessing, or using a firearm must lock the trigger or breech of the firearm and store ammunition separately in a locked cabinet/safe. If possible, the breech must be removed and stored separately from the firearm.

Warning:

Media organizations (TV, Radio, Social, and Web pages) taking and using our information in any form, fully or partially, must acknowledge the source (ikon.mn).

Mongolian Millennium Challenge Account: Internship Announcement

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

Millennium Challenge Account – Mongolia (MCA-Mongolia) is a state-owned entity established by Government Resolution No 297, dated October 2018. MCA-Mongolia is established to implement the Mongolia Water Compact signed with the Millennium Challenge Corporation (MCC), a U.S. government foreign aid agency.

Under the direction of the Director of Finance, the Intern will perform support functions for the Finance team. The term of the internship is three months. The working hours will be 20 hours per week. Meal and transportation allowance, MNT 50,000 per day net.

Duties and responsibilities

Preparation and coordination of official meeting briefing packages;
Preparation of presentation documents for training;
Organizing and archiving documents;
Support custom’s tariff and tax exemption request process;
Data entry into the government reporting system;
Writing weekly call memos;
Assisting fixed asset counting;
Other administrative tasks as assigned.

The profile:

Third or final year Economics, Finance, International Trade, Accounting, and Business student, bilingual and with full schedule availability with the following basic requirements:

Advanced knowledge in Microsoft Office;
Good level of English and academic performance;
Excellent communication skills and teamwork, dynamic and with initiative;
Availability to work 20 hours per week.

TO APPLY

Please submit your Cover Letter and Curriculum Vitae (“CV”) in English, via email to hr@mca-mongolia.gov.mn

Only qualified for the first round candidates will be contacted.

For recruiting information, please contact at 7711-1710 during business hours.

No fees will be paid to MCA-Mongolia or any of its agents at any stage of the recruitment process (application, interview, processing, training fees or other).

Media outlets (Television, Radio, Social, and Websites) must mention their source (ikon.mn) when using our information in any form, either fully or partially.

Environment

E. Bolormaa: Why is the Halzan Buregtei Project Being Revived? This is a Very Serious Issue for the People of Khovd Province

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

During today's meeting of the State Structure Standing Committee of the State Great Khural, the final discussion of the draft resolution on "Approval of the Operational Program of the Government of Mongolia for 2024-2028" is being held.

On this occasion, E. Bolormaa, former governor of Khovd province and member of the State Great Khural, asked the relevant minister about the Halzan Buregtei rare earth element project.

Member of the State Great Khural E. Bolormaa: The suggestion and evaluation of the State Structure Standing Committee were made on August 15. On August 16, a letter regarding the revival of the Halzan Buregtei project's operations was sent from the Ministry of Industry and Mineral Resources.

Why are you acting so quickly without completing and approving the government's operational program? Rare earth elements are a very serious issue.

The government's operational program aims to support processing plants for rare earth elements through policy. What does it mean to support through policy that you are working so rapidly?

Rare earth elements are substances that emit radioactive materials and should be strategic products on a national level in Mongolia. Therefore, policy should be defined by the State Great Khural.

I wish to propose a principle amendment, suggesting that the government's operational program should specify defining policy and establishing a legal environment as supporting measures.

This is a very serious issue for the residents of Khovd province. Last year, based on a visit from the Prime Minister and discussions with residents on the ground, the government made a decision to halt the project.

Yet, how fast is it now being revived? We know that the mining sector is generally driven by vested interests.

Before deciding to resume operations at the Halzan Buregtei project, did you visit Khovd province? What changed in the situation that led to the decision to resume?

Minister of Industry and Mineral Resources Ts. Tuvaan: Our ministry has repeatedly received letters related to this deposit. The previous government's operational program included supporting rare earth elements.

Similarly, policy has been introduced and discussed in the current government program. There is no conflict of interest, and if there is, we are ready to be investigated by law.

There was an assessment by the state sector's inspector regarding the Halzan Buregtei project. The violation has been rectified, and therefore, the inspector decided to resume the operational rights.

Warning

Media organizations (Television, Radio, Social and Web Pages) must cite their source (ikon.mn) when using our information in any form, fully or partially.

WMO: The Average Dust Concentration in the Air is High in Northern and Central China, and Southern Mongolia

Published: Tue, 27 Aug 2024 | Translated from: itoim.mn

The World Meteorological Organization (WMO) reported that while the dust concentration in the air slightly decreased in 2023, poor environmental management is causing an increase in airborne dust.

"Approximately 2000 million tons of dust enter the atmosphere annually, darkening the skies and negatively affecting air quality across regions thousands of kilometers away, impacting economies, ecosystems, weather, and climate," stated the WMO.

According to the World Health Organization (WHO), the surface dust concentration was slightly lower on average in 2023 compared to 2022, due to reduced dust emissions from regions including North Africa, the Arabian Peninsula, the Iranian plateau, northern India, central Australia, and northwestern China. However, the average concentration remains high in western Central Asia, northern and central China, and southern Mongolia. The most intense dust storm of this year crossed Mongolia in March 2023, covering more than four million square kilometers, and also affected several provinces in China. The annual "Dust in the Air" report by WHO indicated that this significantly reduced air quality, with PM10 (particulate matter smaller than 10 micrometers in diameter) concentrations exceeding 9000 micrograms per cubic meter in some areas, reducing visibility in some parts of Beijing to less than 500 meters, severely disrupting transport and daily life.

While a natural phenomenon, human activities also contribute to dust storms. WHO's head, Celeste Saulo, stated, "We must be vigilant in the face of environmental degradation and current and future climate change."

Scientific evidence shows that human activities influence sand and dust storms. For example, increased temperatures, drought, and evaporation lead to reductions in soil moisture. New studies indicate that the deposits of Saharan dust in the Atlantic Ocean provide elements like iron and phosphorus that support the growth of phytoplankton, impacting tuna populations.

Source: rfi.fr/en/international-news

Innovation

The Enrollment for "Development Program-2024" for Entrepreneurs Begins

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

Would you like to improve your personal skills by learning the internationally recognized management methods and experiences of successful entrepreneurs, and bring significant development to your business?

If so, you are invited to participate in the "Development Program" training organized for the 6th year by the Small and Medium Business Academy of Khan Bank in collaboration with the Swiss-supported BPN Mongolia Foundation.

The program will start its courses on September 10th, 2024, and as it is the final enrollment of the year, business owners are advised to register by September 3rd.

Participating in this training will provide small and medium business owners with the opportunity to clearly define their organization's strategy and vision, see their business model in a complete picture, and receive valuable training and advice on very important topics, such as the impact of external and internal business environments, market competition tactics, and research methodologies, in a clear, engaging, and systematic way. There will also be opportunities for financing through discounted business loans.

Participation Requirements Based on Training Level:

Must be a CEO of a company that is a client of Khan Bank (either the founder or the CEO of the company)
Must be involved in the production or service of value-added goods
Must have been operating the business continuously for the last 2 years
Must have more than 5 employees (the number of employees is not considered for businesses with smaller operations)
Must have the desire to take the business to the next level
Must have the time and ability to fully participate in the program

Duration: The program will run from 2024.09.10 to 2024.10.08, lasting a total of 5 weeks, with classes held every Tuesday from 09:00 to 17:00.

Location: Small and Medium Business Academy, Seoul Office of Khan Bank, 3rd floor, Children's 100, SBD

Registration: Register by September 3rd, 2024, through the following link or by scanning the QR code.

Link: survey.zohopublic.com

Contact: smeacademy@khanbank.com

Additionally, Khan Bank's Small and Medium Business Academy regularly organizes training programs in collaboration with both domestic and international professional consulting organizations for small, medium, micro, and independent entrepreneurs. Therefore, it is happy to inform you that you can select and participate in training that matches your business's scope and objectives.

Wishing you success!

INTRODUCING: 100 Schools Implementing an English Program in Grades 3 and 4 on a Trial Basis

Published: Tue, 27 Aug 2024 | Translated from: unuudur.mn

Due to the establishment of a legal framework for teaching English from elementary school, this academic year, an English program will be piloted in the first 100 schools. Training for teachers who will teach English in grades 3 and 4 at the selected schools has begun.

English classes are to be conducted in 34 schools in the capital and 66 rural schools. Please get acquainted with the 100 schools where the English program will be implemented on a trial basis.

RFID Technology Initiated with a ₮10 Billion Cost Has Not Been Fully Utilized

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The electronic certificate of vehicles, or RFID chips, have been installed in cars starting from 2023.

Through the RFID system, it is possible to stop road traffic violations and reduce artificial congestion by 20%, as emphasized by the then Minister of Traffic Congestion, J. Sukhbaatar.

Furthermore, "The development of the system is being funded by the Insurers' Association through the Ministry of Road and Transport Development with 10 billion MNT as part of this project," said Ch. Batzorig, director of the unit implementing the integrated project to reduce traffic congestion in Ulaanbaatar city.

We inquired how effective the electronic vehicle certificates installed have been and how this work is progressing with E. Munkhnasan, head of the Transport Organization Department at the Ministry of Road and Transport Policy Implementation Coordination Division.

It's been about two years since the electronic vehicle certificates were introduced. How effective has the RFID system been?

Preparations to affix RFID technical electronic certificates to vehicles began in July 2023. Consequently, the installation on vehicles started on January 1, 2024. As of now, the work to affix RFID electronic certificates is about 50% complete.

It is being applied to vehicles that have undergone technical inspections. A total of 155 RFID readers have been installed at 161 intersections in the city.

The Office of the Mayor of Ulaanbaatar is transferring control and management to the Traffic Management Center. In other words, the operational process is ongoing. RFID reading test devices have been installed at 13 points in Ulaanbaatar city, and operations have started. The trial work continues. Regarding this, a task for the development of the information management system is being prepared.

Official sources have stated that by affixing RFID electronic certificates onto their cars, drivers could reduce congestion and control insurance and tax information from one place. How is the implementation at the trial stage?

The belief that affixing RFID electronic certificates will reduce congestion is a misconception. This is a method of collecting data on the intensity of vehicle movement or Big data. Alongside this, camera surveillance systems, RFID tags, and other information technologies are being utilized. Combined, it allows the collection of significant data, such as where the intensity of vehicle movement is most active and which points of travel movement are concentrated.

It is incorrect to assume that the installation of RFID tags will directly reduce movement intensity and congestion.

For what purpose are drivers using it?

Once fully operational, the RFID tag will transmit all information related to the vehicle, such as tax, insurance, and fines, to the relevant authorities responsible for oversight. Equipment to electronically deliver information about vehicles participating in traffic without paying taxes, insurance, fines to the Traffic Control Center. It's a tool for data collection rather than for reducing congestion or affecting congestion.

About 65% of the total registered vehicles in Mongolia are undergoing technical inspections. Additionally:

30% are fined
60% have paid taxes and insurance according to statistics.

In other words, RFID is one method to create a system where taxes, fines are 100% paid, and technical inspections are 100% completed. A small device used to monitor all the above.

You mentioned data collection on where the intensity of movement is active. During the trial period, were any points of high movement intensity identified?

It is possible to connect to the Traffic Control Center and obtain specific information. Through 13 operational points, about 75,000 vehicles have passed without paying taxes, insurance, fines. Among these, approximately 17,000 vehicles participate in daily traffic, according to initial data.

Will violations be prevented by electronic certificates?

Participating in traffic without paying fines is prohibited. If mandatory insurance is unpaid, participation in traffic is legally prohibited. If not undergone technical inspection, it is the same. It is a technology to improve oversight according to legal regulations.

Further clarification regarding the oversight of the RFID system was obtained from the Traffic Control Center.

What stage is the regulation of monitoring traffic intensity with cameras at 13 locations via RFID electronic certificates?

Currently, RFID tags have been installed in over 400,000 cars. The system is being built. However, it has not been delivered. We are not using it yet, so to speak. The Ministry of Road and Transport, along with the company "Body," might have the information program. Our management decided to acquire it after it's fully completed. Thus, we don't have data extracted based on RFID.

For now, monitoring continues as before with cameras not based on RFID. They can provide information on road load at any given time through regular camera surveillance.

Media organizations (Television, Radio, Social, and Web pages) must cite their source (ikon.mn) when using our information wholly or partially in any form.

The Enrollment for the "Development Program-2024" for Entrepreneurs Has Begun

Published: Tue, 27 Aug 2024 | Translated from: itoim.mn

Entrepreneurs, are you interested in learning from internationally recognized management practices and the experiences of successful business leaders, enhancing your personal skills, and bringing significant development and progress to your business?

If so, you are invited to participate in the “Development Program,” implemented for the sixth year by Khan Bank's Small and Medium Business Academy in collaboration with BPN Mongolia, a supporter of Swiss small and medium enterprises.

The program will commence on September 10, 2024, and since this is the last enrollment of the year, we recommend that entrepreneurs register by September 3.

By participating in this training, small and medium business owners can receive valuable training and advice on key topics such as defining organizational strategy and vision accurately, visualizing their business model thoroughly, understanding the influence of external and internal business environments, market competition tactics, and research methodologies. Moreover, there will be opportunities for receiving business loans and funding at preferential terms.

Requirements for participants considering the level of training:

Must be a director of a company that is a client of Khan Bank (Founder of the organization or Executive Director)
Must be involved in value-added production or service activities
Must have conducted business activities continuously for the past two years
Must have more than five employees (The number of employees will not be considered if the business scale results in fewer employees)
Must have the aspiration to take the business to the next level
Must be able to commit fully to the program and allocate time for it

Duration: The program will last for a total of five weeks from September 10 to October 08, 2024, and will take place from 09:00 to 17:00 every Tuesday.

Location: Children's 100, Khan Bank Seoul Office, 3rd floor, Small and Medium Business Academy, SBD

Registration: You can register by accessing the link below or scanning the QR code before September 3, 2024.

Link: https://survey.zohopublic.com/zs/JED3F3

Contact: smeacademy@khanbank.com

Additionally, we are pleased to inform you that Khan Bank's Small and Medium Business Academy regularly offers training programs for small, medium, micro, and individual entrepreneurs in cooperation with specialized consulting service organizations in Mongolia and abroad. Thus, you have the opportunity to select and participate in the training that aligns with your business scope and goals.

SUCCESS TOGETHER!

KhanBusiness #SuccessTogether

Expressing the Desire to Provide Scholarships for High School Graduates to Study in Denver, USA, and to Strengthen the Capacity of English Teachers

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The Deputy Mayor of the Capital City, responsible for social sector, green development, and air and environmental pollution, L. Khosbayar, met with representatives led by the Honorary Consul of Mongolia in Denver, USA, James F. Wagenlander, to discuss further cooperation.

At the beginning of the meeting, Deputy Mayor L. Khosbayar said, "It has been a little over a month since I was appointed as the deputy mayor. From the moment I was appointed to this position, I have been focusing more on the education of the future generation, the builders of the country's future, and paying attention to providing education in highly developed countries. As part of the cooperation with sister cities, we want to announce a selection process among high school graduates and offer scholarships to qualified graduates to study in Denver, USA, and include English teachers in capacity-building programs to take our cooperation to the next level."

The Honorary Consul of Mongolia in Denver, USA, James F. Wagenlander emphasized, "We will be pleased to cooperate in every way possible and exchange experiences to strengthen bilateral cooperation."

Source: Public Relations and Communications Department of the Mayor's Office

Application for the “Development Program-2024” for Entrepreneurs Now Open

Published: Tue, 27 Aug 2024 | Translated from: gogo.mn

Entrepreneurs in small and medium-sized production and services, would you like to bring significant development and progress to your business by learning management methods that have been recognized internationally and gaining experience from successful business owners, while also improving your personal skills?

If so, you are invited to participate in the "Development Program" training implemented for the sixth year by the SME Business Academy of Khan Bank in cooperation with the Swiss BP Mongolia Foundation promoting small and medium enterprises.

The program will start on September 10, 2024, and as this is the last application for the year, we advise business owners to register by September 3.

By participating in this training, SMEs will have the opportunity to clearly define the strategy and vision of their organization, see their business model in full, and receive valuable training and advice on very important topics such as the impact of the external and internal environment on the business, market competition tactics, and research methodologies in a clear, engaging, and structured way. Additionally, there will be opportunities for preferential business loans and financing.

Requirements for participants considering the training level:

Must be a director of a Khan Bank client entity (Founder of the organization or Executive Director)
Must be engaged in value-added production or services
Must have operated the business continuously for the last 2 years
Must have more than 5 employees (In cases where there are fewer employees due to the scale of operations, the number of employees is not taken into account)
Must have a desire to take the business to the next level
Must be able to fully participate in the program and find the time

Duration: From September 10, 2024, to October 8, 2024, spanning 5 weeks with classes every Tuesday from 09:00 to 17:00.

Location: SBD, Children's 100, Khan Bank Seoul Office, 3rd Floor, SME Business Academy

Registration: Register by September 3, 2024, through the link below or by scanning the QR code.
Link: https://survey.zohopublic.com/zs/JED3F3
Contact: smeacademy@khanbank.com

Incidentally, Khan Bank's SME Business Academy regularly conducts training programs for small, medium, micro, and self-employed business owners in collaboration with both domestic and international professional consulting organizations. Therefore, we are pleased to announce that it is fully possible to choose and participate in appropriate training in line with the scale, goals, and objectives of your business.

Application Announced for Student Exchange Program in Japan

Published: Tue, 27 Aug 2024 | Translated from: gogo.mn

In Shizuoka Prefecture, Japan, an announcement has been made for the selection of students to participate in a 5-day student exchange program.

Requirements for Participants:

A citizen of Mongolia;
A student in grades 10-12 of secondary school;
Aged 16-18;
Must not have traveled to Japan before.

Required Documents:

A copy of the foreign passport
An essay

Essay Requirements:

Must be within 400 words;
Write within the chosen topic's scope;
Clearly and concisely express personal views and ideas;
Use evidence, proofs, and examples;
Cite used books, works, and sources.

Essay Topics:

My idea of a global citizen
My experience with distance learning
Climate change at our school
Traditions I'd like to change if I were a wizard
My thoughts about the future

Please send the above-mentioned documents along with your contact phone number to vice@all4education.mn by August 30, 2024.

Source: Ministry of Education, Culture, Science, and Sports

5 Reasons to Choose “TurboTech”, Bringing Together Technological Brands

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

Do you agree that modern technological solutions are smart assistants that turn hours of work into moments? Upgrading your mobile phone and laptop can ease your daily life. Investing in new technology for your office can increase company productivity and revenue. A wide-screen, quality TV can bring a warm atmosphere to the family. Music will sound better with quality headphones, enhancing your enjoyment of life. The benefits of integrating technological advancements into your life are countless.

That's why the “TurboTech” store has opened to be a bridge for you to purchase the latest innovative electronic products at the most flexible prices!

Feel the extraordinary power of light speed with products and services offered by “TurboTech” for the following reasons.

1 Tailored Technological Solutions in One Place

What is your age, gender, industry of study or work, and hobby? Regardless of your answer, everything that suits you is available at “TurboTech”. From technology advancements for electronic sports enthusiasts to smart devices essential for a new startup CEO, such as phones, watches, and laptops. For music lovers, speakers and microphones to take your hobby to a professional level, and high-quality computers for IT engineers competing internationally, everything you need is here.

2 Choose Your Desired Brand, and We Deliver!

They say you can identify a person by the brand they choose. At the “TurboTech” electronic store, you can find top-selling and highest-quality brands like Acer, Alienware, Apple, Asus, Dell, Gigabyte, HP JBL, Lenovo, Mi, Razer, Samsung, etc. Simply choose your preferred brand.

3 The Longest Warranty You Can Rely On

Have you ever regretted buying cheap goods from an unknown individual? At “TurboTech”, they offer a longer warranty period of 1-2 years than other official stores. Offering such a long warranty period is a testament to their confidence in the quality of their products.

4 Own the Future Today! Choose Your Payment Method

Have you been postponing owning the technology you've been wanting with thoughts of “I wish to have it”? With “TurboTech”, you can make purchases with no down payment, and no interest fees, and pay in installments. Choose the flexible online leasing option of up to 18 months from Khan Bank, TDB Leasing, ZeelMe, StorePay, PocketZero, LendPay, NetPay, SonoApp, TokiApp to get your desired product.

5 From Hand to Hand, with Direct Delivery!

For busy individuals who can't make it to the store amidst the city's traffic, why not select your products online, get acquainted with the product details, and receive them hand-delivered? Delivery is free. No need to call or play around!

If you want to see and touch the product, “TurboTech” is located on the 3rd floor, room 309 of the “Eastern Tower” of the Great Nayad shopping center.

Facebook: TurboTech
Contact Number: 7777-7734
Operating Hours: 10:00-19:30

LIST: 100 Schools to Implement English Language Program for 3rd and 4th Graders on a Trial Basis This Academic Year

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

Due to the establishment of a legal framework for teaching English at the elementary level, an English language program will be implemented on a trial basis for 3rd and 4th graders in 100 general education schools during the 2024-2025 academic year.

This trial program will be implemented in the following 34 schools in the capital and 66 schools in local areas.

Baganuur: Bolovsrol School
Bagakhangai: Khangai Secondary School
Bayangol: 141st School, 20th School, 28th School, 93rd School, Erdemiin Urgoo School
Bayanzurkh: 88th School, 84th School, 142nd School, 14th School, 33rd School, 44th School, 120th School
Nalaikh: Golomt Secondary School, 119th School
Songinokhairkhan: 65th School, 12th School, 151st School, Ireedui Comprehensive School, 106th School, 162nd School
Sukhbaatar: National University of Mongolia Lyceum, 45th School, 71st School, 31st School
Khan-Uul: 115th School, 15th School, 41st School
Chingeltei: 117th School, 23rd School, 37th School, 72nd School
Arkhangai: Erdenemandal Sum's General Education School, Erdenebulgan Sum's 2nd School, Erdenebulgan Sum's 1st School
Bayankhongor: Bayankhongor Sum's General Education Nomgon School, Nomun Dalai School, Ulziit Sum's School
Bayan-Ulgii: Ulgii Sum's General Education Laboratory 2nd School, Ulgii Sum's 3rd School, Deluun Sum's General Education School
Bulgan: Bulgan Sum's General Education 1st School, Bulgan Sum's Erdemiin Urgoo School, Khishig-Undur Sum's School
Govi-Altai: Tseel Sum's General Education School, Yesonbulag Sum's 1st School, Sharga Sum's School
Govisumber: Sumber Sum's General Education 2nd School, Sumber Sum's 5th School
Darkhan-Uul: Darkhan Sum's 15th School, Darkhan Sum's Oyuny Ireedui Comprehensive School, Khongor Sum's 11th School
Dornod: Kherlen Sum's General Education 1st School, Kherlen Sum's Khan-Uul School, Bayan-Uul Sum's School
Dornogovi: Sainshand Sum's 1st School, Sainshand Sum's 2nd School, Zamiin-Uud Sum's 1st School
Dundgovi: Saintsagaan Sum's General Education Mandal School, Saintsagaan Sum's Erdemiin Dalai School
Zavkhan: Aldarkhaan Sum, Ider Sum, Tosontsengel Sum's 1st School, Uliastai Sum's Chandman-Erdene School
Orkhon: Bayan-Undur Sum's 14th School, Bayan-Undur Sum's 8th School, Jargalant General Education School
Uvurkhangai: Arvaikheer Sum's General Education 4th School, Arvaikheer Sum's Mergeed School, Kharkhorin Sum's Orkhon School, Bayan-Undur Sum's School
Umnugovi: Dalanzadgad Sum General Education Laboratory 1st School, Gurvantes Sum's General Education School, Tsogttsetsii Sum's 2nd School
Sukhbaatar: Tumentsogt Sum's General Education School, Baruun-Urt Sum's General Education 4th School, Baruun-Urt Sum's 1st School
Selenge: Sukhbaatar Sum's General Education 2nd School, Mandal Sum's 3rd School, Sukhbaatar Sum's 4th School, Sukhbaatar Sum's 3rd School, Shaamar Sum's School
Tuv: Delgerkhaan Sum's General Education School, Khumuun Comprehensive School, Battsumber Sum's School
Uvs: Omnogovi Sum's General Education 1st School, Ulaangom Sum's General Education 2nd Secondary School, Ulaangom Sum's 1st School
Khovd: Myangad Sum's General Education School, Jargalant Sum's Tsast Altai Secondary School, Jargalant Sum's 1st School
Khuvsgul: Ikh-Uul Sum's General Education School, Murun Sum's Titem General Education School, Jargalant Sum's School, Khatgal Sum's School, Murun Sum's Erdemiin Dalai School
Khentii: Bor-Undur Sum's Bor-Undur School, Khentii Sum's 1st School, Delgerkhaan Sum's School

Health

The opening ceremony of the "Project to Establish a Rehabilitation Treatment Room Supporting Health Services" took place

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The opening ceremony of the "Project to Establish a Rehabilitation Treatment Room Supporting Health Services," supported by the Canada Fund, was held.

Representatives from various organizations, including the City Mayor's Office, the Embassy of Canada, the Canada Fund, the Capital City Health Department, Nairamdal Hospital, and the Public Health Support Center of Sukhbaatar District's General Hospital, attended the project's opening.

L. Khosbayar, Deputy Mayor for Social Sector, Green Development, and Air and Environmental Pollution Issues, stated, "The capital city's government organizations are carrying out various activities aimed at providing social protection services, promoting socialization, paying attention to health and education, and preparing for employment for target groups of citizens. There are about 800 homeless citizens in the capital city according to available data.

Approximately 150-200 new citizens are registered, and 500-600 citizens receive services annually at this center. Over 80% of those receiving services have joint and other ailments, which is why a special rehabilitation treatment room has been opened, and we are pleased to provide services to citizens."

Sandra Shufani, the Canadian Ambassador to Mongolia, said, "The Local Initiatives Support Canada Fund (LISCF) program is a development assistance program supported by the Government of Canada and is implemented in over 100 countries worldwide. Since Mongolia was included in Canada's official Development Assistance List in April 1997, the Canada Fund has been operating in Mongolia. Since then, a total of 8 million Canadian dollars have been spent on small and medium-scale projects aimed at the most socially needy groups in the 21 provinces and remote districts of Ulaanbaatar.

This year, the Canada Fund received more than 270 project proposals, out of which 14 projects were selected, including this project aimed at establishing a room for physical therapy and other essential treatments for target group citizens promptly. We are pleased to successfully open this new project for citizens using the social protection special center."

Director of the Social Protection Special Center, Sh. Munkhtsetseg, stated, "The special center operates as the only state service organization in Mongolia that assists and supports homeless citizens in transitioning to independent living. We are pleased to announce that citizens using the center can now receive health services such as rehabilitation, physical therapy, burning, and smoking.

Within the project, a 25m2 room was fully renovated, providing an environment equipped with over 10 types of rehabilitation treatment and physical therapy equipment. We express gratitude to the Embassy of Canada, the Canada Fund, and other organizations involved in supporting and financing this project."

Sports

B.Garidmagnai to Lead National Team in Two Matches Against East Timor

Published: Tue, 27 Aug 2024 | Translated from: ikon.mn

The Mongolian Football Federation (MFF) announced that Japanese expert Ichiro Otsuka, who had been serving as the head coach of the national team, has been relieved of his duties. According to sources, the Japanese coach requested to be relieved from his position.

Ichiro Otsuka was appointed as the head coach of the Mongolian national team by invitation from January 2022. Under the leadership of the Japanese expert, the Mongolian national team played 16 matches, winning two, drawing two, and losing 12.

Incidentally, the national team training camp started yesterday. Next month, they will compete against East Timor in the preliminary round of the Asian Cup Qualifiers. Specifically, the first match will be held in Dili on September 5, and the return match will be held in Ulaanbaatar on September 10.

In these two matches, B.Garidmagnai, the Director of the Technical Council of the MFF, will lead the national team.

We previously reported that in May, B.Garidmagnai became a "Pro" level coach of the Asian Football Confederation (AFC). Thus, he is now eligible to work as the head coach of the national team.

Today's Stories

Politics

Economy

Infrastructure

Society

Environment

Innovation

Health

Sports

Politics

State Great Khural: Continue the Initial Deliberation on the Law Concerning the Budgetary Framework and Budget Estimate

Ch. Lodoysambuu: Let's be principled and straightforward, and be a good example for the new members

Can't the Device Stuck Across Two Parliaments Be Fixed, Mr. Speaker?

Leaders of "small" parties with seats in parliament will be included in the council under the Speaker of the Parliament

Economy

The share price of "Mongolian Stock Exchange" JSC has increased by 237% since the beginning of the year

Erdenes Tavantolgoi JSC Fully Settles Payment for Bond "Tranche-2" Raised from Domestic Market

G. Bilguun: SendMN Offers Low-Commission, Reliable, and Fast Money Transfer Services to Businesses and Organizations

"ETT" Paid Off Its 164 Billion MNT Bond Along with Interest from Its Own Resources

N. Enkhbayar: Let me remind you that the next downturn cycle is approaching

Kim Jae Yeon: By 2030, Over 40 "TOUS les JOURS" Branches Will Be Established in Mongolia

The subscription progress of "InvesCore ABS" asset-backed securities reached 59.28%

NSO: The Average Real Income of a Household Increased to 1.7 Million Tugriks, Up by 17%

Infrastructure

By Building a Highway Along the Tuul River, the Issue of Dangerous Cargo Transported Through the City Will Be Resolved

G. Bayarsaikhan: Although the Company Selected for Repairing the Friendship Camp Road Has Prepared, Another Organization Filed a Complaint

Last Week, 32 Vehicles Were Found Not Inspected or Failed

Society

EVENT: International Conference on "Mongolian Buddhist Studies" to be Held

A Fire in Bayanzurkh District Claims the Life of a 13-Year-Old Child

Agreement Reached to Implement a Project to Develop a Methodology for Poverty Reduction with the UN Development Program

WARNING: House Fire Leads to the Death of a 13-Year-Old Child

Two Incidents Involving Children in Fire and Water Accidents Reported Yesterday

WARNING: A Hunting Rifle Malfunctions, Injuring Citizen

Mongolian Millennium Challenge Account: Internship Announcement

Environment

E. Bolormaa: Why is the Halzan Buregtei Project Being Revived? This is a Very Serious Issue for the People of Khovd Province

WMO: The Average Dust Concentration in the Air is High in Northern and Central China, and Southern Mongolia

Innovation

The Enrollment for "Development Program-2024" for Entrepreneurs Begins

INTRODUCING: 100 Schools Implementing an English Program in Grades 3 and 4 on a Trial Basis

RFID Technology Initiated with a ₮10 Billion Cost Has Not Been Fully Utilized

The Enrollment for the "Development Program-2024" for Entrepreneurs Has Begun

KhanBusiness #SuccessTogether

Expressing the Desire to Provide Scholarships for High School Graduates to Study in Denver, USA, and to Strengthen the Capacity of English Teachers

Application for the “Development Program-2024” for Entrepreneurs Now Open

Application Announced for Student Exchange Program in Japan

5 Reasons to Choose “TurboTech”, Bringing Together Technological Brands

1 Tailored Technological Solutions in One Place

2 Choose Your Desired Brand, and We Deliver!

3 The Longest Warranty You Can Rely On

4 Own the Future Today! Choose Your Payment Method

5 From Hand to Hand, with Direct Delivery!

LIST: 100 Schools to Implement English Language Program for 3rd and 4th Graders on a Trial Basis This Academic Year

Health

The opening ceremony of the "Project to Establish a Rehabilitation Treatment Room Supporting Health Services" took place

Sports

B.Garidmagnai to Lead National Team in Two Matches Against East Timor

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