Feb 26, 2025 70 min read Daily News Summaries

Mongolia News Summary for February 26, 2025

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 MongolBeat or its members.

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Politics

EVENT: Discussion on Implementing Risk Management in Government Organizations

Published: 2025-02-25 | Translated from: ikon.mn

A discussion on 'Implementing Risk Management in Government Organizations' will be held in the Great Hall of the Ulaanbaatar Hotel from 09:00 to 16:20. Notice: Media organizations (TV, Radio, Social Media, and Websites) must mention the source (ikon.mn) when using our information in any form, either completely or partially.

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Corruption Awaits at the Approval Threshold

Published: 2025-02-25 | Translated from: unuudur.mn

The frequent populism and attempts to gain public favor by the ruling Mongolian People's Party seem to revolve around the "operation" to cancel state-issued permits. Minister of Cabinet Affairs and Government Secretary N. Uchral has recently been speaking loudly about removing the requirement for private individuals and businesses to obtain government permits, accompanied by various documents, taxes, and fees, as a way to reduce corruption. However, his actions are familiar and do not inspire confidence. This is because similar rhetoric has been heard before. Only three years ago, in 2022, Mayor of Ulaanbaatar D. Sumyaabazar announced and began implementing a decision to cancel 74 types of service permits. However, those were mere theatrics, as businesses still have to rely on government agencies and officials to operate, as confirmed by Uchral's statements. Was Uchral ignorant before? He mentions, "In 2022, the number of permits was legislated to be reduced from over 1,000 to 360, but it has increased by 16 within two years. Besides, there are 265 registrations, 232 conclusions, 132 certificates, 30 accreditations, and nine certificates with bureaucratic hurdles that are not called 'permits' but still restrict business activities. Ulaanbaatar alone has 145 'barriers' called permits. Opening a kindergarten involves 93 steps, and 138 for a pharmacy. Government officials should not forget their duty to serve citizens without bureaucratic hindrance. We are canceling registrations, regulations, and acts exceeding the law. The '5S' operation to eradicate corruption at its roots is underway. We will support and monitor the efforts to reduce bureaucracy and fight corruption," Uchral stated. He has been an MP since 2016, serving as chair of the Working Group on Digital Policy and Innovation, head of the digital policy and communications committee, and Minister of Digital Development and Communication. Despite his extensive experience in digital governance since 2018, his sudden stance against bureaucratic government services seems either calculated or coincidental. This abrupt enlightenment raises suspicion of an attempt to appeal to the public. In 2023, during the pre-election period, they announced making public the information of individuals and businesses who received loans from government special funds, yet two years later, violations related to these funds remain unresolved. Those who embezzled the funds have yet to be held accountable. The initiative to abolish permits may not produce results. If the desire is genuinely to reduce government bureaucracy and think of people, then more grounded, realistic discussions are needed. For instance, many suggest that the decision to limit the number of vehicle license plates issued in Ulaanbaatar should be reversed. This restriction has caused a shortage of vehicle plates in Ulaanbaatar, essentially putting them in the hands of middlemen. Until this is resolved, claims of reducing government bureaucracy and corruption will undoubtedly be dismissed as populism. Moreover, a citizen expressed the frustration of repeatedly being denied a permit to operate a food production business. The reasons for denial changed each time, with the latest being the lack of lighting at the factory's address. Additionally, the need for government institutions to consistently check and address citizens' issues through email communication was highlighted. Despite the constant propaganda about becoming a "digital nation," it is said that when emails are sent to government offices, a physical visit is often required, as emails seem to disappear into thin air. The idea that the Development Center for Construction should be involved in the rite of canceling permits was considered appropriate. Although on Uchral's directive, the Ministry of Urban Development, Construction, and Housing has published information on invalidated permits on their website, these measures appear to be cosmetic and designed to deceive the public. In reality, the permits issued by the Construction Development Center, which create significant inconvenience for construction companies, remain unchanged, as the industry insiders have pointed out. Relatedly, MP G. Lavajamts stated, "We should completely abandon the outdated socialist system where individuals need permission from the state to engage in work. We should allow private sector control over the rights and responsibilities of the Construction Development Center and State Commission. The permit system has become a foundation for corruption. To address this, we can focus on enforcing standards while eliminating permits." Former MP S. Demberel noted that while working at the Mongolian Chamber of Commerce and Industry, they studied permits in the construction sector, which numbered over 100. A country with such a short construction season has the longest permit system. In other words, acquiring permits can consume the entire summer for construction companies. The government's third combination of the "reform of the country's business environment" initiative began with the September 5 Cabinet session successively. The Prime Minister assigned relevant officials the task of reducing business-related bureaucratic barriers to support entrepreneurs. Consequently, the government has embarked on a new program dubbed "Business-Friendly Mongolia." There will be no shortage of government-initiated programs like the "Long-Term Vision," "New Revival Policy," "Brave Initiatives for Rapid Development," and "5S." The "Business-Friendly Mongolia" is the latest in this series. However, the government must focus on achieving results, not just drafting programs, as the representatives of the Mongolian Economic Forum, MCCI, Ulaanbaatar Chamber of Commerce, and Mongolian Food Industry Association have expressed. They understand that the program aims to remove obstacles. The primary issue entrepreneurs face is tax pressure, followed by permits. The law on permits has been in effect for three years, reducing the number. However, the payments, fees, and documents related to permits continue to burden the business sector. Therefore, it is necessary to cancel more than half of the permits. The American Chamber of Commerce in Mongolia noted in a statement on September 21 that "it is time for MPs to support and stand by the private sector and free market, as they are crucial in creating jobs, improving livelihoods, promoting innovation, increasing tax revenue, and ensuring economic sustainable development." The words of these organizations further reinforce that state policy burdens businesses. Meanwhile, the middle management of government institutions continue to hamper, as noted by business representatives. This layer of bureaucracy leads to delays and makes conducting business difficult. Extra-legal barriers to business are often created, and handling business operations becomes cumbersome, as evidenced by an entrepreneur waiting a month for a response from a state agency despite persistent requests and calls. The legislature is considering amending the permit and declaration law after it was enacted just three years ago in 2022. Originally introduced with claims that "permitting no longer requires appeasing government officials," MPs like H. Gankhuyag, who led the drafting of the bill, declared it a law designed for citizens and legal entities by private sector representatives. Nevertheless, as of this month, Uchral conveyed the plan to submit a new law on permits and declarations for the spring session of the parliament, citing unsatisfactory oversight and increased number of permits. The establishment of the Permit Council under the Prime Minister appears to be one of the few implementations of the permit law. According to the law's Article 9.1.1, this non-staff council comprised of public, private, and NGO representatives is tasked with monitoring authorized bodies, proposing changes to the law, and providing assessments. Although established in 2023, the council remains largely ineffective. In essence, businesses do not require the "Business-Friendly Mongolia" program, the permits law, or the Permit Council. Government officials frequently criticizing citizens for not working enough need to remove the obstruction of permits, business representatives emphasize. For example, in Australia, where many Mongolians live and work, opening a company or service does not require stepping into a government office or meeting any officials in person, as everything can be handled online. Businesspeople continue to stress the need for such a simple system.

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Discussion on Implementing Risk Management in Government Organizations is Underway

Published: 2025-02-25 | Translated from: itoim.mn

The Government Monitoring Agency is organizing a discussion on "Implementing Risk Management in Government Organizations". The discussion was opened by E. Odbayar, a member of parliament and Minister of Mongolia, who is also the chairman of the National Council for Inspection and Evaluation. He introduced the policy and operational program of the coalition government formed as a result of the 2024 parliamentary elections. He emphasized that the Mongolian government is implementing 620 goals across 16 areas within four main policy frameworks: regional development policy, human development policy, economic policy, and governance policy that respects human rights. Significant goals include initiating energy sector reforms, increasing domestic energy production, implementing 14 mega projects such as industrialization and regional development, raising the human development index by 10 places, improving the governance index average by 10 places, reducing poverty to 14% by halving its level, and increasing the GDP per capita to 10,000 USD. The Government Monitoring Agency and the National Committee for Inspection and Evaluation are responsible for ensuring legal compliance, enhancing discipline and accountability, increasing productivity, and providing oversight in the operations of government administrative bodies, state-funded enterprises, and state and locally owned legal entities. The fundamental basis for an organization's long-term success is to predict and assess risks, planning and implementing appropriate response measures to ensure operational stability. By implementing risk management, governance in government organizations will improve, and productivity will increase. Therefore, it is crucial to implement risk management in major decision-making and operations, identifying and recognizing risks, and planning and implementing strategies to prevent them. The Government Monitoring Agency's initiative to improve the policy and legal environment for implementing risk management in government organizations, to foster a culture of risk governance, and to strengthen the system has been commended. Appreciation was expressed for collaborating in this effort. Additionally, N. Bayarmaa, the head of the Research and Policy Planning Department of the Government Monitoring Agency, presented a report on the importance of implementing risk management in government organizations and the expected outcomes.

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Economy

TODAY: Report on Business Feedback on Tax Package Laws

Published: 2025-02-25 | Translated from: montsame.mn

Ulaanbaatar. Overview of today's events: Chairman of the State Great Khural D. Amarbaysgalan is on an official visit to the People's Republic of China at the invitation of Zhao Leji, Chairman of the Standing Committee of the National People's Congress, from February 24-27. 10:00 AM: Tickets for the Lunar New Year's wrestling competition start to be sold. 11:00 AM: The traditional Lunar New Year's wrestling match for aimag, military, and soum titleholders and young 256 wrestlers will take place at Dashchoilin Monastery. 11:00 AM - 12:00 PM: A press conference about the feedback from businesspeople on the tax package laws will be held at the Mongolian National Chamber of Commerce and Industry. 3:40 PM: Within the scope of the National Basketball League, the match between Zavkhan Brothers and INUT TLJ (men's) will be held at "U Gym Arena". 6:10 PM: The match between Ulaanbaatar Amazons and Omni Hulguud (women's) will take place at "U Gym Arena". 8:40 PM: The match between Khasyn Hulguud and SG APES (men's) will occur at "U Gym Arena". - Cars with even-numbered plates will participate in today's traffic. - Since February 7, reserve meat has been sold in 446 grocery stores. - The "Amar baina uu" trade exhibition is running until February 27 at "Soyo Palace" and "Ikh Nayas Trade Center". - The "My Mongolia-2025" exhibition-trade, traditionally organized by the Trade Unions Cultural Palace every year, will continue until February 28. - The "Indian Culture and Handicraft Exhibition" is showcased at the G. Zanabazar Museum of Fine Arts until March 1. - Artist R. Bayasgalan's "Hunnu Mongolian Precious Chess" exhibition is being held at the "Chinggis Khan" National Museum until March 12. In the region: - An employment fair will be held at the Unified State Services Center in Dalanzadgad, Umnugovi aimag. Abroad: - The "Mongolian Language and Script" exhibit is being organized in Taipei, Taiwan, Seoul, South Korea, and Tokyo, Japan from January 15 to February 25. - The 3rd leg of the 2024-2025 Women's Grand Prix cycle by the International Chess Federation is taking place in Monte Carlo, Monaco from February 17-28, featuring 20 of the world's best female players. From Mongolia, International Master B. Munguntuul is competing.

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Positive Expectations for the Economy with 'Erdenes Tavan Tolgoi'

Published: 2025-02-25 | Translated from: news.mn

Mongolian politics has long revolved around Tavan Tolgoi, and this remains true today. For several years, positive news has emerged from Tavan Tolgoi, with the coal mine becoming a source of optimism for the economy. The net profit increases and dividends grow. "Erdenes Tavan Tolgoi" JSC reported a net profit of 4.5 trillion MNT in 2024. The company extracted 30.4 million tonnes of coal and sold 29.6 million tonnes, generating sales revenue of 3 billion USD, or 10.2 trillion MNT. The company contributed a total of 3.5 trillion MNT in taxes to the state budget. As a state-owned company operating in the Tavan Tolgoi deposit, where all citizens of Mongolia hold shares, all of "Erdenes Tavan Tolgoi's" revenue and expenses matter to us. Whether it’s Doljin from the "Seven Stops" or Dolgor from "King Tower," both equally receive dividends from their 1,072 shares in "Erdenes Tavan Tolgoi." At the end of the year, they received a dividend of 135 MNT, and before the Lunar New Year, they'll receive 100,000 MNT. Another 100,000 MNT will be disbursed in April. The Board of "Erdenes Tavan Tolgoi" JSC met on February 19, 2025, and resolved to transfer the remaining 100,000 MNT dividend for the 1,072 shares to citizens' accounts by February 28 and the remaining 90,000 MNT in April. It is encouraging that Mongolians have begun to reap the benefits of owning their wealth. Although it is not great yet, dividends are expected to grow over time. In 2019, "Erdenes Tavan Tolgoi" JSC achieved one trillion MNT in sales revenue and made a net profit of one trillion MNT, consequently deciding to pay dividends to its shareholders for the first time. The shareholders are the citizens of Mongolia. They initially received 90 MNT per share, totaling a dividend of 96,480 MNT per citizen. Since then, "Erdenes Tavan Tolgoi" JSC has distributed dividends multiple times, and the dividends per citizen have tripled. The company, which made a net profit of one trillion MNT in 2019, reported a record high net profit of 4.5 trillion MNT last year. It is clear that this record will continue to be broken due to uncovering and stopping rampant theft and corruption in the coal sector. In 2022, the government imposed a special regime on "Erdenes Tavan Tolgoi" JSC by appointing a plenipotentiary representative, resulting in a net profit of 1.3 trillion MNT that year. In 2023, the net profit rose to 3.2 trillion MNT. In 2021, the company made just 110 billion MNT in net profits, meaning its profitability increased tenfold in the first year and thirtyfold in the second year following the appointment of the plenipotentiary. This demonstrates how profitably a corruption-free sector can operate. During the special regime period, "Erdenes Tavan Tolgoi" JSC increased its reserves by 1.8 billion, reaching a total of 8.1 billion tonnes. Last year, a plant with a capacity to process 10 million tonnes of coal annually was commissioned. In 2023, for the first time in its history, Mongolia exported 70 million tonnes of coal worth 8.9 billion USD. The leadership of "Erdenes Tavan Tolgoi" JSC announced ongoing talks to export coal to third markets, aiming to find new opportunities and avenues for mineral exports. Expanding the market in this manner will help prevent economic instability. In 2023, "Erdenes Tavan Tolgoi" JSC exported small amounts of coal beyond China to Singapore and South Korea, and the company is committed to further expanding its export initiatives. This year, the coal sector barometer is not in a favorable state. From exactly one year ago until now, coal prices have dropped by 44% from the first quarter of 2024 to today. However, it is anticipated that coal prices will recover in the latter half of this year. At the end of the previous year, the World Bank cautioned that coal prices would decline by 13% in 2025. The reduction in coal prices began with China's 10% decrease in steel production due to the trade war with the United States. In past years, China's coal demand exceeded its consumption, but this year the situation has reversed, leading to a decrease in coal prices. In light of this situation, Mongolia must consider how to stabilize its foreign exchange earnings by increasing export volumes. Maintaining flexibility and implementing intelligent policies are crucial for ensuring stability in the coal sector. O. Tserendonduk, head of the sales, marketing, and logistics department at "Erdenes Tavan Tolgoi" JSC, stated, "We are exploring coal exports through the 'Ereen' port to approach the markets for steel and energy in China's northeastern provinces. Secondly, according to the Exchange Law, sales are currently being conducted exclusively through Mongolian border ports. We must explore the possibility of selling to northern Chinese coastal ports. Establishing direct relationships with, and supplying to, steel production factories as the end consumer is essential. Additionally, projections indicate that India's steel consumption will double, which is why we are negotiating for coal exports to third-country markets." The Gashuunsukhait-Ganqimaodu port railway project, a priority among the government's 14 mega projects, has been initiated. Sequentially, railway projects for border crossings will be implemented at Hangi-Mandal and Shiveekhuren-Sekhe ports. This will significantly impact the increase in coal exports. In the future, under the 14 mega projects, the Coal-Chemicals and Coke-Chemicals Complex projects and the Steel Complex project will be developed, leading to a rise in domestic coal consumption. "Erdenes Tavan Tolgoi" JSC's processing plant expects to produce and sell an average of 24 million tonnes of products yearly. It aims to achieve an annual sales revenue of 1.9 billion USD and a net profit of 197.3 million USD, contributing 185.8 million USD in taxes and fees to the budget. "Erdenes Tavan Tolgoi" JSC commenced trading on the stock exchange on February 9, 2023. In that year, 17% of total coal sales were conducted through the exchange, and the figures increased to 38% in 2024. The target for 2025 is to trade over 40% through the exchange, aiming for 50% subsequently. We supply coal to China, which consumes 4.7 billion tonnes, accounting for 50% of global coal production. "Erdenes Tavan Tolgoi" JSC exported 30.4 million tonnes of coal in 2024. Of China's 4.5 billion tonnes in annual coal usage, our country exported a total of 70 million tonnes. The decline in coal prices is directly linked to China's economy. After the 1978 reforms and liberalization, China's economy consistently grew at 6-7%, but is currently below 5%. Following the 2008 economic crisis, the Chinese government undertook numerous large infrastructure projects that required significant amounts of steel for highways and construction, yet this demand has since decreased.

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Russia Extends Fuel Export Ban

Published: 2025-02-25 | Translated from: itoim.mn

The Russian government has announced that it is extending its ban on fuel exports by six months. Deputy Prime Minister Alexander Novak stated that the government supported a decision to ban fuel exports to non-manufacturer enterprises from March 1 to August 31 of this year in order to balance the market amid increasing demand. Currently, major oil companies are allowed to export gasoline, but traders and distributors have been almost completely banned from exporting for nearly a year. The embargo does not apply to countries with intergovernmental agreements for fuel supply with Russia, such as the Eurasian Economic Union led by Moscow, the five former Soviet states, and Mongolia. Major importers of Russian gasoline include Nigeria, Libya, Tunisia, and the United Arab Emirates, where fuel is supplied according to contractual agreements.

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How Is Mining Ownership Regulated Internationally?

Published: 2025-02-25 | Translated from: itoim.mn

Out of 195 countries, over 80 have direct government involvement in the mining sector, implementing this through ownership, joint ventures, and licensing systems. Additionally, it is common for countries to exert indirect control over the mining sector through legislation, taxes, and strategic policies. Government involvement is typically higher in countries rich in strategic minerals such as copper, rare metals, lithium, and gold. While some governments fully control their mining sector, others create conditions for the country to benefit through joint investments and regulatory mechanisms. Here, we summarize examples of how governments are involved in their respective mining sectors. Countries with Fully State-owned Mining Companies There are several countries that control mining resources entirely and extract them through state-owned enterprises. However, full government control poses risks of inefficient management, corruption, and lack of foreign investment. Chile – Codelco (copper)
The world's largest copper producer, this company is fully owned by the Chilean Government. Chile’s government controls major mines such as Chuquicamata and El Teniente. China – State-owned Rare Metal Mines
In China, mining sectors including rare metals, coal, and lithium are controlled by state-owned companies. Companies like “China Northern Rare Earth Group” lead the rare earth elements sector. The Chinese government enforces strict controls and quotas on the extraction of strategically important minerals. Saudi Arabia – Ma’aden (Gold, Phosphate, Aluminum, Copper)
The Saudi government owns the majority share of Ma’aden. Major projects like Ras Al Khair (phosphate) and Jabal Sayid (copper) are also government-controlled. Venezuela – The government fully controls the gold mining sector.
Kazakhstan – With state-owned company “Kazatomprom” in the uranium sector. Joint Ventures between the State and Private Sectors Such companies manage to combine national interests, economic stability, technology, and financial resources but constantly carry risks like politicization, profit distribution issues, corruption, and instability. Governments can successfully implement joint mining projects by enforcing sound policies and maintaining transparency while forming correct partnerships with the private sector. Examples include: Botswana – Debswana (Diamonds)
Debswana is a 50/50 joint venture between the government of Botswana and De Beers. Indonesia – Government's stake in Freeport Grasberg (Copper, Gold)
Indonesia’s government took back 51% of the Grasberg mine previously owned by private companies. Mongolia – State ownership in Oyu Tolgoi
The Mongolian government owns 34%, with Rio Tinto holding 66% and operating the mine. Strategic Control, Resource Stockpiling, and Export Restrictions In cases where a country doesn’t own mining deposits, it participates in the mining sector through trade controls and resource stockpiling policies. China – Imposes export restrictions on rare metals, controlling global supply.
United States – National Defense Stockpile
The US does not own its mines but stocks strategic minerals like rare metals, lithium, and cobalt, controlling rare metal imports in this way. Australia – Policy on Strategic Minerals
Although most mines are privately owned, the Australian government provides investment and financial support for lithium, nickel, and rare metals projects. Norway's Sovereign Wealth Fund
Regarded as a premier model for countries rich in oil and natural resources to save their income for the future and ensure economic stability, Norway’s sovereign wealth fund is entirely state-owned. Norway's Ministry of Finance develops strategies and policies, while the Investment Management at Norway's Central Bank (NBIM) manages the fund's daily financial operations. Sources of income consist of taxes, profits from state-owned enterprises, returns on foreign investments, and currency exchange rate increases. The government allocates 3-4% of revenues to the national budget for social welfare, education, and health sectors. The fund, noted for ethical oversight, does not invest in companies that violate human rights or harm the environment. Which countries adopt Norway’s model?
Chile – Establishes a wealth fund from copper export incomes.
United Arab Emirates (Abu Dhabi, Dubai) – Directs oil revenues into a wealth fund, investing internationally.
Qatar, Kuwait, Saudi Arabia – Aim to diversify their economies via investment funds using oil revenue savings.
Singapore (GIC, Temasek Holdings) – Utilizes a model of investing national wealth fund assets in foreign markets to gain profits. Over 80 out of 195 countries have some form of government involvement in mining deposits. Of these, over 30 countries have full state control over the mining sector, while over 40 engage partially by collaborating with private entities. Other countries grant private ownership of mining resources but maintain control through licensing, taxes, and regulation.

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VAT is High as a Policy to Restrict Entrepreneurs

Published: 2025-02-25 | Translated from: news.mn

Today, the "Proposals and Conclusions Provided by Business Entrepreneurs on the Tax Package Law" were presented. The tax environment is creating a shadow economy. The President of MYXAYT, L. Tur-Od, stated: - We will specifically deliver a total of 178 package proposals collected from MYXAYT members and representatives of business entrepreneurs to the working group led by Member of Parliament Kh. Ganhuyag and other relevant authorities. The contribution of the private sector to Mongolia's economic and social development is increasing, making up about 80% of GDP, accounting for 70% of tax revenues, and creating 81% of jobs. According to the results of the "Mongolian Business Environment-2023" survey conducted by MYXAYT with the participation of about 5,000 business entrepreneurs, the tax environment has decreased by 0.12 units or five percent since 2020, scoring 2.50. This indicates that issues with the tax environment continue to persist when it comes to entrepreneurship. In 2024, Mongolia's total tax revenue reached 27.4 trillion MNT, which is an increase of 5.9 trillion MNT or 27.4% from the previous year. Of this revenue, 32.8% comes from income tax, 21.4% from value-added tax (VAT), 17.2% from social insurance income, 4.0% from excise tax revenue, and 18.1% from other types of taxes, fees, and charges. Additionally, taxes paid by the TOP-100 companies in 2023 accounted for 29% of total tax revenue. According to a study on the shadow economy, a shadow economy equal to about 21% of GDP has existed in Mongolia over the past 15 years, resulting in a loss of tax revenue equal to about 5.2% of GDP. A high level of shadow economy increases the tax burden on honest taxpayers, including business entrepreneurs and individuals, which negatively impacts the tax system and economic stability. Therefore, reducing the shadow economy, improving the tax environment, and supporting honest taxpayers is seen as crucial for ensuring economic stability and improving the business environment. Thus, it is necessary to comprehensively revise the tax package law. This is not just about changing rates. Business entrepreneurs have expressed the following proposals: - Reduce the VAT rate from 10% to 5% and increase the tax base. - Switch the taxable income base to a cash basis. - Eliminate or raise the threshold for the graded rate of corporate income tax (CIT). - Increase the total sales revenue threshold for simplified tax regimes from 50 million MNT to 400 million MNT. - Change the practice of deducting social insurance premiums from wage agreements and similar agreements. - Simplify and optimize the arrangements for tax exemptions. - Study international tax regulations and introduce best practices. - Tax property with certificates of real estate. - Limit the basis for employer's contributions. - Change the practice of double taxing dividend income at each level of distribution and transfer. Reducing VAT to 5% is essential. Udval O., Executive Director of Naran Trade LLC, commented: - VAT is very high in Mongolia. This is perceived as a policy to contract entrepreneurs from the market. Therefore, it is absolutely essential to reduce the VAT rate to five percent. Also, the VAT lottery should be stopped as it is seen as unfair. Numbers are not important; the most important thing is that a legal loophole is created behind this. VAT stands at 10%, social insurance contributions are 14%, CIT is 10%, plus other types of taxes, fees, payments, fines, and penalties, causing most companies to close down due to tax burdens. Therefore, we hope that the authorities will incorporate the suggestions from entrepreneurs into the law and make it a reality.

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A Law on Budget Investment Will Be Instituted

Published: 2025-02-25 | Translated from: gogo.mn

A discussion to present the concept of the draft law on budget investment was held at the Ministry of Finance. Through state budget investment, over 9,533 projects have been implemented from 2016 to 2024, with funding amounting to 14.6 trillion MNT (Mongolian Tugrik). On average, contracts are made with more than 2,500 businesses annually, maintaining 36,000 jobs regularly. In evaluating the process, implementation, and results of budget investment, it was found that some projects continue for many years, requiring significant additional funding, and the state has been bearing most of the risks arising from this. Those who implement the projects through state budget investments are representatives of the private sector. Therefore, they exchanged views with private sector representatives regarding investment policy, reforms, and measures to be implemented in the future. The head of the investment and development financing department of the Ministry of Finance, J. Delgerjargal, stated, "The concept of the law on budget investment will focus on five main objectives." These are: 1. To optimally allocate foreign loans, state budget, local government budget investments, increase investment efficiency, and reduce budget burdens. 2. To classify investment into five levels based on the cost of the investment budget. 3. To clarify and specify the technical and economic feasibility studies and design projects of investments. 4. To precisely legislate all stages from investment planning to property registration, and eventually to its utilization. 5. To set the goal of using artificial intelligence and initial data in the digital transition of investment activities. After the presentation of the concept of the draft law on budget investment, private sector representatives expressed their opinions on investment policy, reform, and current issues, according to the Ministry of Finance.

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Apple to Invest $500 Billion in the US

Published: 2025-02-25 | Translated from: montsame.mn

Apple announced on Monday that it plans to invest $500 billion in the US over the next four years. This investment includes building a massive artificial intelligence server factory in Texas and creating approximately 20,000 jobs nationwide in the field of research and development. This decision was made following a report last week that Apple's CEO, Tim Cook, met with US President Donald Trump. During President Trump's first term, Apple, the maker of the iPhone, was exempt from tariffs on Chinese goods. However, now a 10% tariff might be imposed on most Apple products manufactured in China. In 2018, during the previous government, Apple made a similar announcement, stating it would invest $350 billion in the US economy over the next five years. On Monday, Apple's stock price rose by 1.2%. President Trump expressed his gratitude to Apple and Tim Cook on his "Truth Social" social media page, noting that this move demonstrates the company's confidence in the current administration. Although most of Apple's products are assembled overseas, many components continue to be manufactured in the US. Last month, Apple began mass-producing its custom-designed chips at a factory owned by Taiwan's TSMC in Arizona.

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285,000 Jobs to Be Created in 2025

Published: 2025-02-25 | Translated from: news.mn

One of the recent pressing issues in Mongolia is the labor shortage. Many organizations operating in Mongolia are facing human resources shortages due to various reasons, such as salaries, workload, unequal treatment in workplaces, work environment, and social security. According to the Labor and Social Protection Training, Assessment, and Research Institute's labor market research, 24.9% of employers in the capital have been affected by labor shortages. Among these enterprises and organizations, 36,000 job positions are available, awaiting owners, constituting 74% of the total labor shortage. Last year, private sector organizations were most affected by labor shortages. Notably, small enterprises with up to 30 employees, of which 66.2% have fewer than nine employees, experienced significant labor shortages. Previously, loans and investments were their main issues, but now labor shortages are increasing. Therefore, enterprises are increasingly hiring labor from abroad. The number of foreign workers, which dropped to 3,000 after the pandemic, increased to 17,000 in 2024. In the first nine months of 2024, 17,831 citizens from 106 countries were employed in Mongolia. This represents an increase of 5,608 people or 45.8% from the same period last year. Additionally, there are many citizens who study abroad or work and live abroad under contracts or without proper documentation. Currently, over 216,000 citizens reside abroad. Of these, 19,989 are children aged 0-18 without the right to work, and 41,631 are students. This means the remaining over 150,000 citizens are working or employed. Preliminary forecasts indicate that a total of 285,000 jobs will be created in 2025, with over 140,000 of them to be created in the construction phase or in the near future. Representatives from the construction sector report that this trend is particularly noted in the construction industry. Domestic workers often do not work consistently and abruptly disappear, negatively impacting work productivity. They state that even bringing in workers from outside does not fully address the labor shortage. Therefore, employers need to focus on creating opportunities for long-term employment, improving working conditions, and addressing salary issues. It is also time for employees to focus on stable, productive work, and for the state to address these issues.

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L. Tоr-Od: A court specializing in tax dispute resolution should be established

Published: 2025-02-25 | Translated from: ikon.mn

The Mongolian National Chamber of Commerce and Industry (MNCCI) organized a press conference to present the comments and evaluations given by businesses on the tax package law. The chamber gathered opinions from over 250 enterprises and professional associations on the reform of the tax package law and submitted requests to relevant organizations such as the Ministry of Finance and the General Department of Taxation. This is to provide information to clarify the issues arising in society. L. Tоr-Od, the president of the MNCCI, mentioned: "Our chamber's members operate by providing jobs to over a million people. The reform of the tax package law is directly related to the interests of our members. The taxation system consists of three main components: corporate taxes, fees, and charges. Since the issue of the tax package law is directly related to the state budget, it is in line with the Budget Framework Statement. Although the government submitted the reform of the tax package law to the Parliament, it doesn't mean it is finalized. During the process of discussing the law, opinions can be expressed. "From enterprises, more than 700 comments on 12 types of corporate taxes were collected. These have been consolidated to about 178 suggestions and sent to the working group of the Parliament, the Ministry of Finance, and the General Department of Taxation. Suggestions include reducing the current 10% VAT, which is burdensome, to 5% and expanding the tax base, transitioning taxable income to a cash basis, eliminating or increasing the threshold for progressive corporate income tax, allowing immediate deduction of taxes paid on capital purchases, increasing the total sales revenue threshold for simplified tax procedures to 400 million, creating incentives to support employment, introducing international tax-related practices, considering it wrong to deduct social insurance contributions from contracts of work and contracts of service, and setting the legal period for paying taxes and contributions to the 5th of every month. "Countries establish minimum wages to support employment for low-income citizens. Our country sets the level of labor wages through traditional tripartite negotiations. Developed countries set wages on a seven-day basis. Therefore, it would be more appropriate to determine the minimum wage on a weekly basis. "The shortage of manpower in the construction sector is related to its seasonal nature. It is entirely possible to reduce the social insurance rate to 10%. Many entrepreneurs claim that they act as tax inspectors. In other words, the fact that businesses and employees are required to pay the social insurance rate twice is a violation of the Constitution. "The tax imposition in our country is based on two main principles: the taxpayer and statutory tax consultation. Otherwise, enterprises consider it wrong to deduct social insurance contributions from employees' wages. A court specializing in tax dispute resolution should be established. Enterprises face unfairness when they resolve VAT-related disputes through a resolution commission. If a specialized court is not established, resolution through an arbitration center is possible," he said. Warning: Media (television, radio, social, and websites) must mention the source (ikon.mn) if they use our information in any form, in whole or in part.

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The Ministry of Finance Acquires Previous Bonds with Bonds Equivalent to 1.7 Trillion MNT

Published: 2025-02-25 | Translated from: gogo.mn

The Ministry of Finance carried out debt management by paying off the "Nomad" and "Century-2" bonds. Specifically, the government has traded a 500 million USD bond on the international financial market with an interest rate of 6.625 percent and a maturity period of five years. With this financial source, it purchased back the "Nomad" and "Century II" bonds to manage the debt. According to today's exchange rate announced by the Bank of Mongolia, 500 million USD is equivalent to 1 trillion 731 billion MNT. The primary orders from investors to purchase the "Century IV" bond exceeded the issue size by 8.2 times, reaching 4.1 billion USD. This indicates the high demand for government bonds internationally, as well as increasing investor confidence in Mongolia. In connection with this, our country’s bond risk premium has decreased to 2.27 percent, reaching a historical low level. It has created an opportunity to set the bond interest rate lower than the secondary market rate. During the trading of the "Century IV" bond, high-credit rating countries such as Uzbekistan, Brazil, and the Dominican Republic issued bonds, yet our country issued bonds with interest rates 0.1-0.4 percentage points lower than these countries. This, in turn, opens up opportunities for domestic businesses to attract cheaper financial resources from the international financial market. By managing the foreign debt in this way and improving debt sustainability, it will be possible to pay off the remaining payments of the 2026 "Nomad" bond without economic burdens in terms of the budget and reduce the amount of foreign debt. The Ministry of Finance stated that it is an important step to further improve the stable B2 credit rating and ensure macroeconomic stability.

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B. Udval: VAT Rate is High in Our Country. Refund and Lottery Should Be Abolished

Published: 2025-02-25 | Translated from: ikon.mn

The Mongolian National Chamber of Commerce and Industry (MNCCI) organized a press conference to present the feedback from business owners on the tax package law. During the event, B. Udval, a member of the Board of Directors of MNCCI and Executive Director of "Naran Trade" LLC, expressed her stance on VAT. She stated, "The VAT is paid by the public, not by the business owners. With every purchase, VAT is paid and transferred to the state. Currently, there are many organizations that collect VAT from the consumer but do not transfer it to the state. Increasing the threshold for mandatory VAT registration from 50 million MNT to 400 million MNT under the revised law is very wrong. This could lead to many organizations that do not collect VAT or report their sales, creating loopholes in the law. Every individual and entity conducting sales and operations should be VAT payers. By reducing the VAT rate to 5%, a tax base would be established, and citizens would benefit. Entrepreneurs believe this would not reduce state revenue. The number of people paying taxes to the state is decreasing. For example, our company conducts transparent trade, collects an additional 10% VAT from consumers, and submits it to the state. However, people no longer want to buy goods from places that conduct transparent transactions and issue VAT receipts. Why would anyone want to pay 10% more? So, people are purchasing goods from markets that do not charge VAT. The VAT rate is high in our country. In Singapore, this type of tax is only seven percent. The current 10% VAT is a policy that tightens the space for entrepreneurs. The two percent VAT refund and lottery should be abolished. There is injustice behind the lottery," she said. Warning: Media outlets (Television, Radio, Social, and Websites) must cite the source (ikon.mn) when using our information in any form, wholly or partially.

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Entrepreneurs Propose Reducing VAT from 10% to 5%

Published: 2025-02-25 | Translated from: gogo.mn

The President of the Mongolian National Chamber of Commerce and Industry (MNCCI), L. Tör-Od, has reported on the proposals made by business owners regarding the tax package law. Approximately 700 proposals have been gathered from enterprises and companies, which have been consolidated into 178 items and clauses suggested for amendment. In December, the MNCCI, in collaboration with the office of the Speaker of Parliament's working office, hosted a discussion on "Comprehensive Tax Reform," and organized another discussion in January with members of a working group established by the Speaker of Parliament's order on "The Need and Solutions for Amending the Tax Package Law." The following proposals have been conveyed by business owners: - Reduce the VAT rate from 10% to 5% to broaden the tax base. - Move the tax base for taxable income to a cash basis. - Eliminate or raise the threshold for the progressive corporate income tax rate. - Increase the total sales revenue threshold for eligibility under the simplified tax regime from 50 million to 400 million MNT. - Change the practice of deducting social insurance contributions from wages and remuneration agreed upon in contracts, such as service execution and freelance agreements. - Simplify and optimize the provisions for tax relief. - Study international tax regulations and implement best practices. - Apply tax to real estate investments with title deeds. - Limit the base for employer contributions. - Change the practice of double taxation on dividend income at each redistribution stage. Additionally, it is highlighted that the current tax package laws mainly aim to collect taxes and fees to form the state budget, offering little room for businesses to expand, raise employee salaries, and invest after paying taxes. The tax system has created conditions where many companies cannot sustain their presence in the market and end up closing down under tax burdens. Moreover, tax legislations are described as confusing, lacking integration, and creating complexity and bureaucracy, while inspectors interpret laws differently, which hinders collaboration with taxpayers. Issues such as lack of provisions for exemptions in the tax law despite promises in the Investment Law cause problems for national producers and create an uneven tax environment. There is a call for transforming the purpose of the tax package laws to: firstly, support economic and developmental levels of Mongolia by assisting business operations, and secondly, reasonably collect taxes to form the state budget. Improvements to the coherence of tax laws, rules, and regulations, making them clear and burden-free, grounded on fairness and equity principles, are deemed essential. Such tax policy reforms can significantly enhance the business environment, creating a legally favorable climate for growth.

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Tax Policy Reforms to Make Business Environment More Favorable and Stable

Published: 2025-02-25 | Translated from: montsame.mn

Ulaanbaatar. Our country's taxpayers and business owners have compiled their suggestions and evaluations regarding the Tax Package Law and have specifically submitted them to relevant authorities. Notably, the MNCCI has identified the issues in the taxation environment faced by businesses and aimed to improve them by collaborating with the Chairman of the State Great Khural's office for a "Comprehensive Tax Reform" discussion in 2023. Last month, a discussion titled "Need for Tax Package Law Reforms and Methods of Resolving Issues" was organized in collaboration with members of the working group established by the Chairman of the State Great Khural's order. During this time, suggestions received orally and in writing from businesses were consolidated, and 178 suggestions related to 12 types of legal statutes have been submitted to the Budget Standing Committee of the State Great Khural, the Ministry of Finance, and the General Authority of Taxation. In 2024, Mongolia's tax revenue reached 27.4 trillion MNT, increasing by 5.9 trillion MNT or 27.4% from the previous year. Of this, 32.8% is from income tax, 21.4% from value-added tax, 17.2% from social insurance, 4% from excise tax revenue, and 18.1% from other types of tax, fees, and charges revenue. According to the "Mongolian Business Environment-2023" survey, which included about five thousand business owners, the tax environment has decreased by 0.12 points or 5% since 2020, rated below average at 2.5 points, indicating persistent tax environment issues for doing business, MNCCI President L. Tur-Od informed the media. The Executive Director of "Naran Trade" LLC, D. Udval, stated that due to paying VAT 10%, social insurance contributions 14%, and corporate income tax 10%, in addition to other types of taxes, fees, charges, penalties, and fines, most companies cannot sustain themselves in the market for long and, falling under tax pressure, end up closing and going bankrupt. Therefore, it is expressed that suggestions given by business owners should be incorporated into the law and put into practice, requesting the authorities to take action.

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Published: 2025-02-25 | Translated from: news.mn

The free balance of 700 billion MNT from the Social Insurance Fund is to be placed in commercial banks in the form of deposits. The National Council of Social Insurance held a meeting and decided on placing the free balance of the social insurance fund in deposits. The revised General Law on Social Insurance specifies four types of financial instruments in which the free balance of the social insurance fund can be invested. The fourth option allows for depositing it in influential commercial banks. Accordingly, the meeting decided to set the annual interest rate for placing the free balance in commercial banks at not less than 11.4%, and it was resolved to deposit the free balance of 700 billion MNT. As a result, the assets of the social insurance fund may increase by about 80 billion MNT. This is considered a beneficial and economically reasonable decision that strengthens the free balance of the social insurance fund, which has not grown for many years, according to Minister L. Enkh-Amgalan of Family, Labor and Social Welfare. It was previously announced that 160 billion MNT of receivables from the social insurance fund would be investigated by the Anti-Corruption Agency. Specifically, it was mentioned for many years that 68.2 billion MNT at "Kapitall" Bank and about 100 billion MNT at "Chinggis Khan" Bank would be collected, but it has not been done. In this regard, the Minister of Family, Labor and Social Welfare, L. Enkh-Amgalan, said, "Upon assuming my position as the minister and becoming the Chairman of the National Council of Social Insurance, we first established a professional committee. Nine consultants work in investment management. These experts advise the national councils on how to place social insurance funds in a profitable and risk-free manner. Based on this, we make our decisions. Secondly, we established a Public Oversight Council. Previously, it was not open which bank and at what interest rate the social insurance fund was deposited. As of today, all this information has been made transparent on the website of the General Department of Social Insurance. Thirdly, there is an issue with the 160 billion MNT at risk in "Kapitall" Bank and "Chinggis Khan" Bank. We hired professional lawyers and, for the first time, filed a complaint with the prosecutor's office. The prosecutor reviewed this complaint and transferred it to the Anti-Corruption Agency. The Anti-Corruption Agency has opened a new case and will investigate the officials responsible for risky decisions on the social insurance fund. It is expected that this issue will be resolved soon," he said.

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Loans of Non-Bank Financial Institutions Increased by 4.4 trillion MNT from 2020

Published: 2025-02-25 | Translated from: montsame.mn

A total of 573 non-bank financial institutions (NBFIs) operated in 2024 with special permits issued by the Financial Regulatory Commission of Mongolia. This is an increase of 8.3% compared to 2023. These NBFIs now have a total of 5.4 million clients on a duplicated basis. Of these organizations, 4.9% are foreign-invested, and 95.1% are nationally invested. Their total assets reached 7.1 trillion MNT. This is an increase of 2,455.1 billion MNT compared to 2023, and a 3.6-fold increase from 2020. An 84.5% increase in loans contributed to this growth. The sector's liabilities and own capital increased by 2.5 trillion MNT (52.5%) from 2023. Of this increase, 62.3% was liabilities and 37.7% was own capital. Compared to 2023, the source of trust services increased by 82.4%, funding from banks and financial institutions doubled, and the issuance of debt securities by NBFIs increased by 71.4%. The total assets of NBFIs have reached an equivalent of 8.2% of Mongolia's GDP. The sector's loan size reached 5,750.4 billion MNT. This is an increase of 2,074.5 billion MNT from 2023 and an increase of 4.4 trillion MNT from 2020. Of the total loan balance, 90.5% was granted to individuals, and 9.5% to legal entities. Of the loans granted by the sector, 21.7% were for up to 1 month, 20.8% were for 6-12 months, 19.4% were for 2.6-5 years, and 16.5% were for 1-2.5 years. On a national scale, the average loan amount granted by NBFIs was 2.5 million MNT per borrower. In rural areas, this figure was 1.5 million MNT. In comparison, this figure was 2.3 million MNT in 2023, showing an increase of 6.9%. The weighted average interest rate of the loans granted was 3.5%, which is a 0.2 percentage point increase from 2023. In 2024, the income of NBFIs was 1,828.2 billion MNT, of which 1,644.1 billion MNT was interest income and 154.5 billion MNT was non-interest income. Service expenses were 1,130.3 billion MNT, comprising 75.9% of operating expenses, including 459 billion MNT for non-interest and 398.8 billion MNT for interest. Out of the NBFIs, 504 operated profitably with a combined profit of 705.1 billion MNT. However, 10 broke even during the reporting period, while 59 sustained losses amounting to 7.2 billion MNT. In contribution to the state budget, 175.7 billion MNT was collected. Additionally, 22.5 billion MNT was paid to social insurance, 15.9 billion MNT to personal income tax, and 137.3 billion MNT to corporate income tax. According to the consolidated report by the Financial Regulatory Commission, NBFIs incurred expenses of 61.8 MNT on average to earn 1 MNT in revenue.

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The area of five special permits given to our government is now operated by "ETT"

Published: 2025-02-25 | Translated from: gogo.mn

J. Odjargal, the head of the MCS Group Directors' Council, is working at the Primeat meat factory in the local area. He responded to a question from B. Solongo, the executive director of “Metagro”, and a five-minute video was posted on social media today. In the video: B. Solongo: While we were doing our work, people behind the scenes made a movie. Our MCS group members are feeling sensitive and frustrated because there is no substantial response to this. It seems like we are being perceived as guilty by remaining silent. Recently, we have been very slandered. It is wrong for us to not respond. J. Odjargal: We are a team that is always concentrating on the work ahead of us. Recently, a few people have conducted organized black PR campaigns to tarnish our company's name. We have chosen to stay away from dividing society, causing turmoil, and engaging in arguments. We've been quite patient and tolerant. This gives a wrong impression that we are at fault. I regret this. We are not interested in working against the organized dissemination of defamatory information. We are just focusing on our previous work. People will discern with their common sense. I've trusted in this too much and stayed overly patient. Ukhah Khudag was transferred per legal procedures 15 to 16 years ago after a large government working group discussed it for four months. We acquired the strategic deposit by the book, and since we haven't broken any laws, I'm not concerned. Now "ETT" JSC is operating on the five special permit areas that we handed over to our government at that time. These five special permits constitute 95 percent of the total deposit. It is falsely reported that the donations made during the election were illegal. It has been said that we organize demonstrations and have a troll army. As if we are so idle. We were made to look like we were doing things we never did. The slander is extreme. B. Solongo: I was following my cattle when it was claimed that I have a troll army. I have 4000-5000 cattle. It's as if a myth or legend, hardly believable. I thought people wouldn't believe such blatantly false information, but it seems to be taking hold. J. Odjargal: It has been said that negotiations over the Gashuun Sukhait railway are being opposed and demolished by us. People know, we have been wanting this railway to connect for 15 years. Government negotiations have been very important. We hoped the railway would connect to the border, and there's no doubt about this. There needs to be political and economic stability for further development. We need to attract foreign and domestic investment and know-how. We've worked hard on how to attract investment from North America. We have done this before. A large fund from that country has invested in Unitel and Coca Cola. MMC, the parent company of Ukhah Khudag, is listed on international stock exchanges. 9 percent of the total shares of this JSC are owned by an American fund, 37 percent by MCS, and the rest are owned by international funds. That's how power stations, coal processing plants, employee towns, schools, and kindergartens were built in the empty Gobi. Don't believe in darkening all this. I am calm because the public will distinguish the truth from the lie. Don't worry about this. B. Solongo: Why argue before Tsagaan Sar? It's said in Mongolia that speech brings good fortune. With spring approaching, it would be better not to engage in arguments. It's like adding salt to a wound. But when things exceed reasonable limits, it seems necessary to speak. J. Odjargal: We always get investigated when requested by legal authorities. It should indeed be investigated. There's no need to worry because we work in accordance with the law. May you all have a pleasant holiday.

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Preparations Begin to Inherit 1072 Shares and Dividends

Published: 2025-02-25 | Translated from: news.mn

We interviewed J. Amarsaikhan, the director of "Central Securities Depository" LLC, about the 1072 shares and anticipated dividends. There is an expectation among people that the dividends from the 1072 shares will be distributed before the end of the year. How much will be distributed to citizens with 1072 shares without tax deduction? As soon as the decision is formalized, we are ready to transfer the dividends to the citizens' accounts. According to the decision of the board of directors of "Erdenes Tavantolgoi" JSC, it was decided to distribute a 350,000 MNT dividend for 2024 in three installments. The first advance of the dividend has been distributed in January 2025. Without tax, 135,000 MNT, and after tax, 121,500 MNT was transferred to the shareholders' accounts with a transaction note of dividends. The second dividend will be distributed before Saturday of this month, i.e., within February. The exact date for the third distribution has not been announced yet. This month's dividend will be 100,000 MNT after tax, and for the third installment, people with 1072 shares are expected to receive 96,000 MNT. There were some issues last time in distributing dividends where some citizens' accounts were mismatched, or the money did not enter their regular accounts. How many people have accounting issues? In 2020, 86.5% of all shareholders received dividends through their accounts. By 2022 and 2023, dividends were distributed to 97.5% of those holding 1072 shares. The remaining 2.5% includes those whose children's money has been deducted, whose accounts have changed, whose accounts have been sealed by court decision, or who are working and living abroad. This involves about 80,000 people. The dividend distribution process involves four main steps. First, the board of directors of "Erdenes Tavantolgoi" JSC decides how much dividend per share will be distributed, calculating the net profit after tax. Second, based on this decision, information is provided to "Central Securities Depository" LLC, and a contract is made. After that, a calculation of how much tax-free dividend will be distributed to how many people is made, the file is prepared, and finally, the transaction is processed through the state treasury, via commercial banks, into citizens' accounts. The main process progresses step by step over a certain period. It does not mean dividends will simply appear in citizens' accounts overnight. Currently, 3,407,926 citizens are eligible to own 1072 shares of "Erdenes Tavantolgoi" JSC. This number includes deceased persons as well. "108,000 DECEASED PERSONS' 1072 SHARES TO BE INHERITED IMMEDIATELY UPON DECISION" Will it be possible to inherit shares soon? If possible, can the relatives of a deceased person inherit only the shares, or can they also own the dividends together? Initially, on March 11, 2011, 536 shares of "Erdenes Tavantolgoi" JSC were distributed to citizens. Subsequently, on April 11, 2012, an additional 536 shares were distributed to those who had received shares previously. Since then, every citizen born in Mongolia inherits 1072 shares. Since the initial distribution in 2011, approximately 108,000 people have passed away. People often believe that if a family member with 1072 shares passes away, the government takes those shares. However, this is not true. Both the shares and the dividends are preserved. The dividends and shares of deceased persons are kept in the account of the "Central Securities Depository" in the state fund. According to current regulations, tending the 1072 shares other than selling them to the state is prohibited. Therefore, if a decision by the Parliament is made, allowing the inheritance of shares of "Erdenes Tavantolgoi" JSC, the families of deceased individuals would gain the right to inherit the shares and dividends. In preparation for the possible enactment of inheritance rights, we are working on a memorandum of understanding with notary offices. In other words, the rights related to inheritance involve multiple procedures, so it is being prepared in advance. Some people are unaware of how many shares they have or which account their dividends go into. How can this information be obtained without having to visit your office? If citizens want to inquire about receiving dividends or other information, they can send their registry number in Latin letters via SMS to 158989, and they will receive the information. Dividend information can also be obtained from Kiosk machines. Citizens can access the I Mongolia portal, enter their profile section, and under the menu "securities," they will get comprehensive information on the number of shares they own, which securities company they have an account with, and which commercial bank account received their dividends. Citizens can obtain all information digitally without needing to call or personally visit the securities center. Those who have not opened a securities account can also open an account by accessing the I Mongolia website. There are often complaints that dividends could not be transferred due to account issues or that they did not reach the regularly used account. Are there risks of this happening again? Citizens hold accounts at a minimum of 3-4 commercial banks. Some people get frustrated when they check just one active account, see that no deposit was made, and assume the worst. However, individuals often have accounts in multiple banks, such as Zos Bank, State Bank, etc., that they might not actively use, so they do not check them. We have all information on accounts citizens hold with commercial banks. Our organization selects the most recently used account for dividend distribution. If a citizen has registered and verified their active commercial bank account while opening their securities account, we select that account. If the active account is not registered, we select the account with the most recent successful transaction. It's important for citizens to understand this process. To ensure updated account information and the number of new births and deaths, we regularly cooperate with the General Authority for State Registration and update data. The State Registration Authority handles changes in citizenship status, updates to personal registration and information, name or surname changes, and so on. Secondly, we maintain a constant relationship with the General Department of Social Insurance and update information. Under tax law, people with disabilities are exempt from 100% of personal income tax, so we work with the GDPSI when processing dividend transactions. Are citizens who have sold their 1072 shares or wish to obtain more shares able to purchase or transfer shares? Currently, it's not possible. Due to a lack of economic knowledge or circumstances, some citizens who sold their shares have asked many times about acquiring new ones. On January 17, 2024, the parliament discussed this issue, but it wasn't supported. Personally, I believe that enabling people who sold their shares or used them for tuition payment to repurchase shares would be fair.

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New Money Being Exchanged with 5-10% Fee and Delivery Service

Published: 2025-02-25 | Translated from: news.mn

During the Lunar New Year, there is a significant demand for new money to use in respect-filled greetings to guests and elders. Consequently, a type of service has emerged based on this demand—new money. New bills of 1,000 to 20,000 MNT are being sold with a notable markup, as people rush to pocket them and charge interest. This year, the new money for greetings is distinctively being exchanged at a 5-10% interest rate, and with delivery. Although people often claim that money is money, whether new or old, everyone is keen on having new bills for exchanges during the days leading up to the holiday. The time when people exchanged money outside major marketplaces during festive periods is behind us, and now even online, this service has become in demand. However, it has been noted on social media platforms that money exchanges with a fee apply, but exchanges over 500,000 MNT come with delivery. For example, if an individual wants to exchange 500,000 MNT, they will give 50,000 MNT as a fee to receive new bills.

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Signed Agreement for the Concessional Loan to Fund "ATAR-4" Campaign

Published: 2025-02-25 | Translated from: isee.mn

The Ministry of Food, Agriculture and Light Industry, the Bank of Mongolia, and 10 commercial banks have signed a concessional loan agreement to finance the "ATAR-4" Sustainable Development of Agriculture campaign. During the signing ceremony of the concessional loan agreement, the Minister of Food, Agriculture, and Light Industry, J. Enkhbayar, stated, "A little over a month ago, we collaborated with the Bank of Mongolia and commercial banks to sign a financing agreement for a major program to advance the processing level of the wool, cashmere, leather industries. Today, within the framework of the Government of Mongolia's policy to perfectly combine agriculture with animal husbandry, intensify and diversify it, and elevate light and food industries to a new level, we are signing the policy document for the 'ATAR-4' Sustainable Development of Agriculture campaign. It is necessary to highlight that this campaign has been approved as a government program on the initiative of Prime Minister L. Oyun-Erdene. By implementing this program until 2028, 200,000 hectares of new arable land will be brought into utilization. Expanding arable land will consequently increase the size of food, agriculture, and light industrial production. To achieve this, we will protect farmland from soil erosion and degradation. By 2030, Mongolia's population will reach four million. Additionally, the number of tourists visiting Mongolia annually is expected to reach one million. To meet the growing food demand, it is necessary to increase the amount and production of crops. On the other hand, we will bring our soil conservation policy to a new level and create forest belts in collaboration with the President's 'One Billion Trees' program to protect soil fertility. We will gradually introduce proper crop rotation and zero-tillage technology. Comprehensive plant protection measures will be developed. Seed production complexes will be established. Advanced irrigation techniques and technology will be introduced. This will increase the yield per unit area, potentially meeting 100% of the demand for grain, potatoes, and essential vegetables, and 70% of forage requirements through domestic production. Alongside this, we will enrich our livestock with 200,000 high-yield cattle, supporting intensified animal husbandry and creating clusters for meat and dairy products. Another major task of the "ATAR-4" campaign is to increase the cultivation of crop-based feeds for intensified animal husbandry. Essentially, it will revolutionize feed cultivation and production. Producing protein-rich feed plays a crucial role in the development of clusters for intensive cattle, pigs, and poultry farming. By implementing this comprehensive campaign, we aim to create the perfect combination of agriculture and intensive animal husbandry, developing the food and agriculture sector as an economic backbone. A unified network connecting herders and farmers directly with producers will be established, launching a comprehensive movement for all participants in the food, agriculture, and light industry sectors to grow together. In conclusion, Mongolia will provide its population with healthy and safe food and implement the goal of creating 21st-century agriculture focused on exports. While today, the Mongolian food, agriculture, and light industry sector carries out exports worth one billion USD, implementing intertwined programs such as the 'White Gold' and the 'ATAR-4' campaign can achieve two billion USD in exports," he said. Within the scope of the "ATAR-4 Sustainable Development of Agriculture Campaign," commercial banks will provide 800 billion MNT in loans for agriculture, animal husbandry, and food industry sectors. Of this, up to 350 billion MNT will be allocated for working capital, and up to 450 billion MNT for investment purposes. From the state budget, the government will finance 52.8 billion MNT in interest rate support for 2025, covering 10% of the interest on working capital loans. The loan term is stipulated to be up to two years for working capital loans and up to four years for investment loans in the agreement. The President of the Bank of Mongolia, B. Lkhagvasuren, stated, "In recent years, the world has been going through a time of crisis with pandemics and conflicts. This has emphasized the importance of countries safeguarding their food security. The events from the past have shown how crucial it is for Mongolia to transform into an economy capable of fully processing its agriculture-based products and raw materials. We are delighted to collaborate in the Bank of Mongolia's food security and sustainable agriculture program." Investment loans will be provided in the following 12 areas to support the production activities of citizens and enterprises engaged in agricultural production, increase production capacity and improve utilization: 1. Establish fully mechanized threshing floors; 2. Build new mechanized warehouses and cellars for potatoes and vegetables; 3. Create new greenhouses and plant factories (hydroponic, aeroponic); 4. Increase the capacity of agricultural machinery and equipment and procure new ones; 5. Establish new mushroom factories or expand existing ones; 6. Expand existing or establish new meat cattle farming enterprises and purchase equipment; 7. Expand existing or establish new young cattle fattening operations and purchase equipment; 8. Stabilize poultry operations, expand production, and purchase equipment; 9. Increase feed production by establishing or expanding production facilities and purchasing equipment; 10. Stabilize beekeeping operations, expand production, and purchase equipment; 11. Establish new dairy cattle operations (clusters) or expand production and purchase equipment; 12. Upgrade food processing equipment; 13. Create new or expand existing grain-based processing plants (soybeans, alfalfa, peas, beans, linseeds, rye, barley) and purchase new equipment; 14. Establish new or expand existing food trade and meat storage facilities and purchase new storage equipment; 15. Create new packaging and labeling factories for agriculture-based products.

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Diplomacy

Official Visit of Speaker of the State Great Khural D. Amarbayasgalan to China Begins

Published: 2025-02-25 | Translated from: montsame.mn

The official visit of the Speaker of the State Great Khural of Mongolia, D. Amarbayasgalan, to the People’s Republic of China has begun. The Speaker was welcomed by Hou Yunzhi, a member of the Financial and Economic Committee of the National People’s Congress of China, and N. Enkhbold, Mongolia’s Ambassador Extraordinary and Plenipotentiary to China. Today, Speaker D. Amarbayasgalan will hold an official meeting with Zhao Leji, Chairman of the Standing Committee of the National People’s Congress. During the meeting, discussions will focus on the development of cooperation between the legislative bodies of the two countries and the expansion of activities of the Parliamentary Friendship Group within the State Great Khural. The National People’s Congress, China’s supreme state legislative body, consists of deputies elected for a five-year term from all provinces, directly administered cities, autonomous regions, special administrative regions, and the People’s Liberation Army of China. The number of deputies can be up to 3000, with the number for a given term determined by the Standing Committee of the National People’s Congress. During the visit, the delegation will familiarize themselves with the operations of the Chinese Academy of Human Resources Science, the Beijing Xiaomi electric car factory, and the Jinhui Farmers’ Professional Cooperative. The delegation accompanying the Speaker includes chairpersons of party groups and standing committees of the State Great Khural, representatives of the five parties and coalitions seated in the Khural, and other officials, as reported by the Press Office of the State Great Khural.

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Deputy Prime Minister T.Dorjkhands's Working Visit to the Kingdom of Bahrain

Published: 2025-02-25 | Translated from: gogo.mn

Deputy Prime Minister of Mongolia Togmidyn Dorjkhand was received by Sheikh Khalid bin Abdullah Al Khalifa, the Deputy Prime Minister of the Kingdom of Bahrain. During the meeting, they discussed opportunities for investment in energy, mining, and agriculture sectors in Mongolia, cultural cooperation, the implementation of Bahrain's successful management of residential development, and attracting foreign investment. Deputy Prime Minister T. Dorjkhands said, "Mongolia is not only a country with vast territory but also with abundant mineral resources, and it is the closest country to the world's second-largest economy. We are open to foreign investment. Countries in the Gulf such as Saudi Arabia and the United Arab Emirates are highly interested in investing in Mongolia, especially in the energy sector. Mongolia aims to cooperate with the Kingdom of Bahrain in energy, mining, agriculture, and cultural sectors." Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister of the Kingdom of Bahrain, expressed gratitude on behalf of the government of Mongolia for the visit of Deputy Prime Minister T. Dorjkhands to the Kingdom of Bahrain. He noted that the Kingdom of Bahrain has successfully attracted foreign investment and highlighted opportunities for cooperation in transport logistics, mining, agriculture, energy, and the establishment of information centers. He emphasized that the outcome of the Harbin agreement has opened the possibility for Mongolia to export renewable energy to China, which the Arab countries' governments welcome. As part of the visit, a meeting was held with Sheikh Nasser Bin Hamad Al Khalifa, the Crown Prince of the Kingdom of Bahrain, who is also the Chairman of the Supreme Council for Energy and Minerals, National Security Advisor, and Commander of the Royal Guard. Additionally, the Economic Development Council under the Prime Minister of Mongolia is studying and working to implement Bahrain's best practices in investment.

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US Sides with Russia in UN Vote

Published: 2025-02-25 | Translated from: news.mn

A UN vote to stop a three-year-long war saw the US refuse to condemn Russia. This action placed the US at odds with its European allies, sharply altering transatlantic relations. As the world watches to see how the Trump administration will stop the war, this decision by the US was startling to many. A UN resolution, which called Russia an aggressor nation and urged it to withdraw its troops from Ukrainian territory, was supported by 93 countries. However, the US, along with Russia and 16 other countries, voted against the resolution. The resolution noted that "Russia's aggression in Ukraine has continued for three years. This has not only been harmful to Ukraine but also poses a substantial threat to regional and global stability, with long-lasting consequences. Concerned about this, the resolution calls for the de-escalation of tensions, an early cessation of hostilities, and a peaceful resolution to the conflict."

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Deputy Prime Minister of New Zealand Winston Peters to Visit Mongolia on February 27-28, 2025

Published: 2025-02-25 | Translated from: isee.mn

At the invitation of Foreign Minister B. Battsetseg, New Zealand's Deputy Prime Minister and Minister of Foreign Affairs Winston Peters will make an official visit to Mongolia on February 27-28, 2025. This visit represents a high-level engagement from New Zealand at the Deputy Prime Minister and Foreign Minister level since 2013 and coincides with the 50th anniversary of diplomatic relations between the two countries. During the visit, New Zealand's Deputy Prime Minister and Minister of Foreign Affairs Winston Peters will meet with Mongolia's Parliament Speaker D. Amarbaysgalan and Prime Minister L. Oyun-Erdene, and hold official talks with Foreign Minister B. Battsetseg. During these discussions, the parties will identify priority areas for future cooperation and exchange views on expanding their partnership in fields such as the economy, agriculture, tourism, and education. Mongolia and New Zealand established diplomatic relations on April 8, 1975.

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N. Ankhbayar: Multilateralism is the most effective way to solve global challenges

Published: 2025-02-25 | Translated from: gogo.mn

N. Ankhbayar, the Permanent Representative of Mongolia to the United Nations, participated in a high-level open debate of the UN Security Council on the theme "Implementing Multilateralism and Improving Global Governance" and expressed Mongolia's position. Permanent Representative N. Ankhbayar emphasized that the most effective way to solve global challenges is through multilateralism. He praised the role and participation of the UN. He noted the necessity for comprehensive reforms to make the UN Security Council more representative, transparent, and effective, and stressed the importance of strengthening international law and order based on the law. He highlighted the need to reform the global financial system to implement sustainable development goals, increase funding, and ensure the participation of developing countries. Mongolia expressed its commitment to combating climate change and addressing environmental challenges, and noted that preparations are underway to host the 17th Conference of the Parties (COP) to the UN Convention to Combat Desertification in Ulaanbaatar in 2026. Mongolia expressed its consistent support for the "Future Covenant" document aimed at reviving multilateralism and reforming global governance. This discussion was organized at the initiative of China, which is presiding over the UN Security Council this month, and was chaired by China's Foreign Minister Wang Yi. UN Secretary-General A. Guterres opened the debate with a speech. Representatives of 98 member countries participated, and among them, ten countries including Algeria, Bolivia, Cuba, Pakistan, Saudi Arabia, Somalia, Sierra Leone, Uganda, Hungary, and Ukraine participated at the level of foreign ministers and deputy ministers. Source: Ministry of Foreign Affairs

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Infrastructure

The Steel Processing Project of Darkhan Metallurgical Plant LLC is Accelerating

Published: 2025-02-25 | Translated from: gogo.mn

The Government of Mongolia has decided to establish a steel smelting plant based on the "Darkhan Metallurgical Plant," with a capacity to produce at least 1.0 million tons of steel products annually. In connection with this, Minister and Head of the Cabinet Secretariat of Mongolia N. Uchral, Minister of Industry and Mineral Resources Ts. Tuvshin, and other relevant officials have reviewed the company's operations and the progress of the project preparations. In the past six months, "Darkhan Metallurgical Plant" LLC has improved its financial and economic performance, paid off its debts, and successfully prepared for the integrated steel plant project. According to CEO B. Chagnaadorj, the company has become capable of securing investments for the steel processing plant based on the Tömörtei deposit, which has an iron ore reserve of over 500 million tons. Sales revenue of the company has increased and cash flows have stabilized, positively impacting the implementation of the project. The increase in import-substituting products and progress in exports have laid the groundwork for initiating the Steel Processing Project. In the future, the company plans to expand steel production based on the Tömörtei deposit and produce products that meet international standards. The investment plan is being implemented in phases, aiming to launch the plant by 2028. In addition to providing significant impetus to the industrial development of Mongolia, this project bears strategic importance by introducing technological advancements and manufacturing products competitive in international markets. High-quality steel products for the domestic market will soon be produced, laying the foundation for import substitution. Minister Uchral has directed "Darkhan Metallurgical Plant" LLC's management to expedite the project's activities and swiftly resolve land management issues. The Steel Processing Project will not only drive industrial development and create new jobs but also hold strategic significance by implementing technological updates and producing internationally competitive products. "Darkhan Metallurgical Plant" LLC plans to improve its financial situation in the near future and increase its income by opening new export avenues. They are committed to enhancing the preparations for the steel production complex.

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The National Housing Committee Revises Mortgage Rules, But Meets Only Once

Published: 2025-02-25 | Translated from: itoim.mn

Last year, Prime Minister L. Oyun-Erdene announced the establishment of the National Committee for Housing Development, stating that he would lead it. By leading this committee, the aim is to accelerate the housing of young families and increase access to mortgage loans. Additionally, the committee has announced its intention to revise the mortgage loan rules, creating public anticipation. However, it was revealed by Minister of Construction and Urban Development J. Batsuuri that the committee has only met once since its establishment and has not yet approved the new mortgage rules. Our country provides 1-1.2 billion MNT in mortgage loans annually, which means approximately 6000 families benefit from mortgage loans each year. Nevertheless, demand exceeds supply, resulting in requests for mortgage loans at banks having a waiting period of 2-3 years due to restricted funding, despite high demand. Therefore, the Bank of Mongolia presented a proposal to the National Committee to set mortgage loan interests on a tiered basis. In particular, a proposal was presented to have mortgage loan interest rates of 10-12% in Area A of Ulaanbaatar, 8% in Area B, and 6% in rural areas, but the National Committee has not convened to discuss and approve the new rules. The President of the Bank of Mongolia, B. Lhagvasuren, stated: "To increase the availability of mortgage loans, increasing the interest rate would increase bank involvement. The reason is that banks cannot attract deposits at 12% interest and issue loans at 6% interest, so the 6% interest needs to be increased. A 6% interest rate is very low. People are taking loans at 17-18% interest to do business, while housing loans are available at 6% interest. In rural areas, it can be 6% under the notion of rural revitalization. However, there's no need to provide housing loans at 6% interest in Ulaanbaatar, especially in the so-called Area A, as it would increase congestion. Interest rates should reflect the market rate. MIK raises bonds from abroad and issues mortgage loans. The interest rate on these loans is between 12-14%. A 14% interest mortgage loan is sufficient. The sources are there. Therefore, it was proposed to have differentiated interest rates. In rural areas, it would be 6%, in the city center, commercial rates, and 8% in Area B. Sufficient sources will be available if such changes are made. Also, it would enable mortgage loans for detached houses with resolved heating and electricity, if these houses can be used as collateral, hence the need for an organization to validate them." Also, Prime Minister L. Oyun-Erdene introduced a draft of the National Housing Bill to the Parliament in May last year, but it has not been discussed yet.

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H. Nyambaatar: The newly established "Unit in Charge of Highways" will be urgently equipped with offices, vehicles, and computers

Published: 2025-02-25 | Translated from: ikon.mn

As the construction season begins and several major infrastructure projects are set to be implemented in Ulaanbaatar this year, it has been decided to improve the health and working conditions of every employee and enhance technical resources. Speaking on this matter, the Mayor of Ulaanbaatar, H. Nyambaatar, stated: "The heads of all municipal organizations will organize comprehensive health screenings for their employees. The costs will be covered by the Health Insurance Fund and the city's emergency fund. The Civil Service Law includes provisions for the social security of civil servants, which regulate the relationship concerning their participation in health examinations and diagnostics. Civil servants will be included in health examination packages that cover the colon, rectum, esophagus, stomach, MRI, CT, and gynecological tests in state hospitals, especially those under the City Health Department, and thereby generate income. We must care for our civil servants. Secondly, a new unit in charge of highways has been established under the unified unit of the Ulaanbaatar city traffic congestion reduction project. We will urgently organize the provision of offices, vehicles, and computers for these organizations. We need to change the habit of relying on ad hoc solutions when conducting state affairs," he said. Within the jurisdiction of the City Governor, there are 31 implementing agencies, while over 15,000 employees work across approximately 90 municipal and affiliated organizations. Warning: Media organizations (television, radio, social, and web pages) must cite the original source (ikon.mn) if they use our information in any form, completely or partially.

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APU Dairy LLC: Selection of Contractor for Reinforced Concrete Slab Casting Work

Published: 2025-02-25 | Translated from: ikon.mn

OPEN TENDER INVITATION 1. General Information about the Tender: Tender Name: "APU Dairy Milk Factory Expansion" Project - Building Reinforced Concrete Slab Casting Work Tender Number: APUDE-09/2025 Tender Materials Distribution Deadline: Until 17:00 on February 28, 2025. Tender Submission Deadline: Until 17:00 on March 14, 2025. Brief Information about the Tender Selection: As part of the "APU Dairy Milk Factory Expansion" project to renovate the APU Dairy milk factory building located in the 19th district of KHUD, a tender is being organized to select a contractor for the reinforced concrete slab casting work of this building. The building is a 4-story structure with dimensions of 105.75x38.7x18.45 meters composed of metal framework, serving as a factory/office. Package 1: Reinforced Concrete Slab and Elevator Wall Casting - Casting slab on corrugated steel using rebar work from 1st to 4th floor. - Casting of the building’s elevator shaft. Package 2: Floor Casting and Equipment Foundation Casting: - Floor casting. - Equipment foundation casting. Tender participants must estimate the cost of each work by acknowledged standards and calculate the quantities according to the drawings and submit the tender per the project designs. Applicable norms and standards: - "Cast-in-place Concrete, Reinforced Concrete" BNB 52.02.05 - "Execution of Cast-in-place Concrete Work" BNB 52.102.04 - "Album of Sections for Cast-in-place Reinforced Concrete Structures" G1.220.1-1G.D1-2020 - "Safety Regulations for Construction Production Part I. General Requirements" BNB 12.03.04 - "Safety Regulations for Construction Production Part II. Technical Safety Regulations" BNB 12.04.06 - "Guideline Instructions on Occupational Safety for Construction and Assembly Work" BD 12-101-05 - Additionally, any other necessary legal norms and regulations not mentioned above. 2. Requirements for Participants: The participating organization must be a legal entity operating in Mongolia. The organization must have a special license of category BA2.1 or higher according to the "Construction Law," valid until the end of 2026. The organization must not have any legal disputes. The organization must possess the financial capacity to complete the work according to the contract. Interested parties must register to participate in the tender by contacting the address below by 17:00 on February 28, 2025. Tender documentation must be submitted by 17:00 on March 14, 2025, as specified in the tender documents. The tenders will be organized internally by the client, and only selected organizations will be contacted. Interested parties can obtain tender documents and clarifications or further information about the tender at the following address: KHUD's 19th District, Chinggis Avenue 33/05, APU Dairy LLC Building Project Coordinator: B. Maralmaa, Phone: 80894704 Email: maralmaa.b@apu.mn Warning: Media organizations (Television, Radio, Social, and Web pages) must cite the original source (ikon.mn) when fully or partially using our information in any form.

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Society

INVESTIGATION: Watches with Apparently Fake Labels, Potentially Fatal, are Being Sold for 40-65 Thousand Tugriks /VIDEO/

Published: 2025-02-25 | Translated from: isee.mn

People tend to buy cheaper alcohol for the Lunar New Year celebration. Officials warn that these might be counterfeit vodka, whiskey, or beer. For instance, 15 attempts to smuggle counterfeit alcohol were detected by the Customs General Administration. Specifically, there were attempts to smuggle a total of 343 liters of vodka, 5 liters of cognac, 9 liters of whiskey, and 191 liters of counterfeit beer across the border. Meanwhile, online pages and groups like “Russian Vodka and Whiskey at Wholesale Price” and “Vodka and Whiskey at Wholesale Price” continue to advertise and sell this type of counterfeit alcohol. We contacted the relevant sources regarding this and prepared the following report. First, we contacted a seller in the group advertising “Russian Vodka and Whiskey at Wholesale Price” via phone. According to the seller identified with the number “...”, “I own a store. We sell at the price starting at 10,000 tugriks, plus delivery costs. Finland was sold for 60,000, Beluga 110,000, Corn 40,000, Absolut 60,000 tugriks, and delivery was dependent on the number of purchases.” However, a member of the “Vodka and Whiskey at Wholesale Price” group stated, “Right now, there is no available whiskey. If you order in bulk, I can arrange it for you. Jack was sold for 180,000, Jameson for 150,000, and Ballantines for 160,000. We take these from tax-free goods. All are sealed, unadulterated, reliable,” he said. According to L. Amartuvshin, customs inspector of the Customs General Administration’s Monitoring and Control Department, “Citizens, for New Year and Tsagaan Sar, try to import alcoholic beverages whose labels are unclear, manufacturers unidentified, quality certificates absent, and labels evidently fake for personal use. Many violations arise involving the smuggling of such alcoholic beverages under the guise of personal consumption. According to the regulations, passengers can bring in 2 liters of vodka, 2 liters of wine, and 3 liters of beer for personal use. This means that citizens returning across the border bring in alcoholic beverages in such quantities. These alcoholic beverages are highly risky, where manufacturers mimic existing labels but with errors in letters and words, evidently fake, and it is unknown where they are produced. The risk of health implications during celebratory use cannot be underestimated. Potentially, it may pose life-threatening risks, and there may also be various substances in the alcohol. Therefore, it is best to use alcoholic beverages that meet quality standards, have official certification, and have paid the necessary tax charges. Our citizens should pay close attention to the products they consume. Accidentally, some may purchase imitated products. Officially imported products are attached with a special tax-stamped logo. It has a barcode or QR code on it. When this code is scanned, official information about the importing company appears. In such cases, it can be deemed a quality product.

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"Oyu Tolgoi" Company Donates Communication Equipment to the National Emergency Management Agency

Published: 2025-02-25 | Translated from: ikon.mn

The "Oyu Tolgoi" company has been working with national and local government agencies to reduce disaster risk and improve rescue operations. In this context, they donated equipment valued at 230 million MNT necessary for disaster protection and emergencies to the National Emergency Management Agency (NEMA) which was handed over to NEMA's chief, Major General G. Ariunbuyn. This equipment is crucial for ensuring uninterrupted communication during emergency operations and for the safety of NEMA's officers. At the event, Philip Abrahams, the General Manager responsible for Health, Safety, Environment, and Local Communities at "Oyu Tolgoi", stated, “Although natural disasters cannot be predicted, it is essential to be prepared with equipment that allows for rapid response in emergencies. That is why we have been working with NEMA. I am very pleased to hand over this equipment which will contribute to maintaining communications during critical rescue operations and ensuring the safety of citizens and officers. "Oyu Tolgoi" will continue its cooperation with NEMA in disaster protection and work closely with regional and local emergency services." In 2019, "Oyu Tolgoi" signed a two-year Memorandum of Understanding with NEMA, and since then has been closely collaborating to improve disaster preparedness, management, and response. They renewed the agreement in October 2023 for another three years. Since 2020, a total of 1.271 billion MNT worth of necessary equipment and goods for rapid response in emergencies has been donated to NEMA. Highlights of the cooperation: Over the last five years, the underground mine rescue team of "Oyu Tolgoi" has provided professional training to more than 100 members of NEMA's Mining Rescue Team. These trainings play a vital role in organizing effective rescue operations in mining accidents. To enhance local firefighting capacity and ensure public safety, a fully equipped fire truck was donated to the Hanbogd district in charge of firefighting. Amid the floods in Ulaanbaatar in July 2023, necessary equipment and gear were donated to NEMA officers. To raise awareness of earthquake risks and ensure preparedness at the individual, family, and organizational level, a nationwide campaign "Be Prepared" was organized. Information is made available to the public on the website www.belenbai.mn. The "Oyu Tolgoi" company is creating positive impacts reaching beyond the mine site, contributing to the development and progress of Mongolia. Note: Media outlets (Television, Radio, Social and Web pages) must always cite their source (ikon.mn) if using our information in any form, wholly or partially.

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Public spaces will be cleared of unauthorized activities

Published: 2025-02-25 | Translated from: montsame.mn

In Ulaanbaatar, the mayor has announced the implementation of the "Public Space 50 Locations Paid Parking Management Improvement Project" through a state-private sector partnership. The project aims to plant trees, create green spaces, and install electric vehicle charging stations in the designated areas to reduce air and environmental pollution. Consequently, unauthorized activities in the public spaces set for the project will be forcibly cleared, and changes will be made to the layout of entrances and exits, alongside the execution of other necessary measures, as reported by the Public Relations Division of the City Mayor's Office. An open selection process for the project has already been conducted, and a contract for the joint implementation of the project with a private sector partner was signed in 2023. The project aims to improve the management of the currently operational paid parking, connect it to an integrated system, ensure the information and safety of idle parking spaces, introduce monitoring cameras, and implement a smart technology-based payment system supporting both pre- and post-payment services. Follow @montsame.mn

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Tourism Industry Frustrated by Changes to "Danshig Naadam-Khuree Tsam" Event Date

Published: 2025-02-25 | Translated from: unuudur.mn

The "Danshig Naadam-Khuree Tsam" festival, which preserves Mongolia's religious and cultural practices as well as traditional features, is customarily held every August. This event is one of the notable highlights of the country's tourism sector, attracting a large number of foreign and domestic tourists. Therefore, travel agencies and tour operators start taking pre-orders for the Danshig festival from the previous year and sign contracts with tourists. However, the capital city governor, H. Nyambaatar, unexpectedly issued a decree to organize this year's "Danshig Naadam-Khuree Tsam" on June 21 and 22, without consulting or informing tourism businesses and tour operators in advance. This has frustrated the tourism sector, which is now demanding that the city mayor reconsider his decision. They have also requested an explanation regarding whether the festival will only be held in June in 2025 or if it will change again next year. In connection with this, the Mongolian Tourism Association is conducting a survey among industry researchers, experts, and entrepreneurs on whether to change the date of the Danshig festival or not. They warned the city mayor, "If you don't understand the characteristics, connections, and rhythm of the tourism industry, at least listen to the professionals and heed their opinions."

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Published: 2025-02-25 | Translated from: ikon.mn

The General Police Department (GPD) of Mongolia has issued a warning about scams involving messages from others' social media accounts requesting loans. Specifically, a message saying "Please urgently loan money" was sent from a citizen T's social media account to all his acquaintances. Without verifying, an acquaintance transferred 550,000 MNT to a Khaan Bank account and was scammed. Citizen S is being investigated in connection with this case. An investigation is underway according to Article 17.3, Part 1 of the Criminal Law, which has led to a criminal case being initiated and the designation of Suspect S. There are many instances of people being deceived and losing money in this manner. Therefore, the authorities advise being cautious, and if you receive a request for a loan from someone's Facebook account, ensure that you verify and ask for confirmation via phone. Please note that media organizations (Television, Radio, Social and Web pages) must cite the source (ikon.mn) in any form when using our information in whole or in part.

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Gender Balance at Leadership Levels Not Achieved

Published: 2025-02-25 | Translated from: unuudur.mn

The National Committee on Gender introduced the Gender Balance Report of the Gender Sector Subcommittee. The law on ensuring gender equality specifies that in order to provide equal opportunities for men and women to join public service and hold positions in office, the following policies will be implemented. According to Article 10.1.1 of the law, among the appointed political officials, the representation of one gender must not be less than 15 percent in the government, aimag, and capital city, 20 percent in districts, 25 percent in soums, and 30 percent in khoroos. Article 10.1.2 states that among state administrative leadership positions, the representation of one gender among state secretaries of ministries and heads of government agencies should be at least 15 percent, 20 percent for other central administration leaders, 30 percent for directors of departments and divisions of ministries, and 40 percent for heads of governor’s offices, departments, and divisions in aimag, soum, capital city, and districts. Furthermore, Article 10.3 mandates that human resource plans must incorporate policies and measures to ensure a 40:60 balance when one gender is predominantly represented among the total employees of state and budgetary organizations, except in cases specified in Article 6.5.6 of this law. Let's see how the law is being implemented with the following numbers.

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Last Year 998 Foreign Nationals Were Expelled

Published: 2025-02-25 | Translated from: gogo.mn

The Immigration Agency reported that last year, 998 foreign nationals from 25 countries were expelled for violating immigration laws and regulations. The majority of these individuals, totaling 794, were citizens of the People's Republic of China. Of these, 509 were deported for working without the appropriate authorization and engaging in activities not aligned with their stated purpose of visit. Additionally, 181 individuals were found to have overstayed their residence permits and evaded leaving Mongolia, 72 overstayed their temporary visitor visas, and 32 were expelled for other reasons.
Source: Immigration Agency

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Last year, 998 citizens from 25 countries were deported

Published: 2025-02-25 | Translated from: ikon.mn

According to mpa.mn, the Immigration Agency of Mongolia deported 998 citizens from 25 different countries last year for violating the Law on the Legal Status of Foreign Citizens. The majority of these deported individuals, totaling 794, were citizens of China. These Chinese citizens were expelled for various reasons: 509 had engaged in activities different from their stated purpose of visit without authorization, 181 had overstayed their residence permits and avoided leaving Mongolia, 72 had overstayed their temporary visitor visas, and 32 were deported for other reasons. Although Mongolia is promoting tourism by issuing electronic tourist visas for up to 30 days to citizens of 99 countries, violations are increasing where these visas are used for purposes other than tourism, such as for business or employment. For instance, in 2024, 87,423 electronic visas were issued to Chinese citizens, yet 491 of these individuals used them for non-tourism purposes and were deported. More than 1,600 others faced fines for violations. The authorities warn inviting citizens, businesses, and organizations to provide accurate information to foreigners and pay special attention to the validity of visas and residence permits, resolving issues before expiration. They must conduct only legally recognized activities and obtain the necessary permissions in accordance with the law and regulations. Warning: Media organizations (Television, Radio, Social and Web pages) must credit the source (ikon.mn) when using our information in any form, fully or partially.

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Draft Law on Supporting Families Discussed

Published: 2025-02-25 | Translated from: isee.mn

A working group led by L. Munkhzula, the State Secretary of the Ministry of Family, Labor, and Social Protection, is drafting the initial bill on supporting families. The group includes representatives from academia, state and non-governmental organizations, and international bodies. The project aims to support families by providing assistance, ensuring a balance between work and life, and delivering comprehensive social services to each family member to promote family stability and well-being. It is believed that, once passed, the law will promote family stability and improve the quality of life, particularly for families with young children and multiple children, ensuring stable population growth and creating a family-friendly environment in Mongolia.

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Environment

Head of Cabinet Secretariat of the Government N.Uchral, Members of Parliament S. Erdenebat, B. Bayarbaatar Visit the Ministry of Food, Agriculture and Light Industry

Published: 2025-02-25 | Translated from: isee.mn

Members of the Mongolian Parliament, Head of the Government Cabinet Secretariat N. Uchral, Members of Parliament S. Erdenebat, and B. Bayarbaatar visited Darkhan-Uul aimag. During their work in the local area, the members of parliament were introduced to the operations of the Ministry of Food, Agriculture and Light Industry, as well as the Agricultural Commodity Exchange, Agricultural Corporation, Small and Medium Enterprise Agency, and the branch of the Loan Guarantee Fund in Darkhan-Uul aimag. The Minister of Food, Agriculture and Light Industry J. Enkhbayar, along with relevant department heads and leaders of organizations under the ministry, provided information on programs such as the "White Gold" initiative, the "Food Revolution," the "New Cooperative-Wealthy Herdsman" program, and the "ATAR-4" project for sustainable development, as well as policies being implemented in the sector. Head of the Government Cabinet Secretariat N. Uchral noted that due to the relocation of the Ministry of Food, Agriculture and Light Industry to Darkhan-Uul aimag, the development of the agricultural sector and economic indicators in the central region have improved, supporting policies aimed at decentralization and promoting urban and rural development that are yielding positive results. The government is supporting the ministry's major projects through policy, working to bring favorable results to the economy. There are challenges and issues related to the ministry moving to the local area. For instance, issues such as the ministry's building, employee housing, rent, and travel expenses presented by Minister J. Enkhbayar will be discussed at the Government's meeting, and phased measures will be taken to address them. "The implementation of the 'ATAR-4' campaign is essential. We will focus on this. At a time when the international economic situation is deteriorating, we have no choice but to support our agricultural sector. Therefore, we will invest," he said.

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Innovation

Improve Your Internet and Speed Up Your Business

Published: 2025-02-25 | Translated from: ikon.mn

In an era of constantly evolving technology, where we spend a significant amount of our time in the digital space, we offer an internet service that is smart, time-saving, and meets the financial needs of every organization with simple solutions. In the cutthroat world of business, measured by the minute, acting faster is an unwritten rule of success. In such fierce competition, working faster and transferring information more rapidly is crucial. This speed can be provided by Kevico Internet for your organization. If you want to BOOST YOUR BUSINESS by increasing your internet speed 2-10 fold without increasing your current expenses, contact Kevico Internet. Attention: When using our information in any form, be it fully or partially, media organizations such as Television, Radio, Social Media, and Websites must always mention the source (ikon.mn).

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Health

The number of people in Mongolia infected with the B virus decreased to 100 per year after vaccination of newborns

Published: 2025-02-25 | Translated from: gogo.mn

We bring information from O. Dashpagma, Head of the Immunization Department of NCCD, regarding prevention of liver virus infections that can cause cancer by immunization. The vaccine against Hepatitis B virus, which is a primary cause in the development of liver cancer, has been administered in our country since 1991 within 24 hours of birth. Mongolia is one of 117 countries around the world that administers this vaccine to newborns. The B virus has several transmission pathways, with the highest risk being transmission from mother to child during birth. Vaccination immediately after birth can block this transmission pathway with a preventative chance of 90-95%. Before this vaccine was introduced, 50-100 people per 10,000 population would contract Hepatitis B virus annually in Mongolia. Now, 85% of those dying from liver cancer are over 45 years old, i.e., those who were born before the introduction of the scheduled vaccine. By fully immunizing newborns (more than 95%), infection rates have fallen to below 50 per 10,000 people, which has been the case since 2005, resulting in 200-300 infections annually. It has now decreased to 100. An important condition for drastically reducing virus-caused liver cancer in the long term has thus been created. Those first vaccinated against the B virus in 1991 are now 34 years old. Currently, 85% of those dying from liver cancer are aged over 45, i.e., from the pre-vaccine era. As for the Hepatitis A virus, Mongolia introduced a preventative vaccine in 2012. Before this, one child infected with jaundice disease in the kindergarten would cause the entire class to fall ill. Now, 28 countries in the world are administering this immunization, most of which are underdeveloped countries that have not resolved their social issues. With the introduction of this vaccine, the number of cases, which was over 10,000 in 2011-2012, can now be counted on one or two fingers, almost eradicating it. Immunization, which is a unique prevention of infectious diseases, thus shows its effectiveness. By doing so, complications such as liver cancer, cirrhosis, and others can be prevented, as noted by Dr. O. Dashpagma. There is currently no treatment for Hepatitis B virus worldwide, so immunization is the protection method. On the other hand, treatment for the C virus has already been introduced in our country. As a result of the 'Healthy Liver Mongolia' program implemented by the government, more than 100,000 citizens were included in the C virus treatment with discounts from health insurance. However, being cured of the C virus doesn't mean you won't develop liver cancer. Regular monitoring is essential. Once the liver has undergone changes, there is always a minor risk for a number of individuals to develop cancer, so post-treatment monitoring is crucial, advises J. Chinburen, councilor physician, cancer surgeon, and Member of Parliament.

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The Measles Virus has a Transmission Rate of 96-98%: Ministry of Health Update

Published: 2025-02-25 | Translated from: ikon.mn

The Ministry of Health has issued guidelines to prevent the spread of measles. Measles is an acute contagious disease caused by a virus. It spreads very easily through airborne droplets when an infected person coughs or sneezes. Children, especially young ones, are at high risk for complications and even death if they contract the disease. Symptoms of infection include: - Fever - Rash with raised spots - Cough - Runny nose - Red, inflamed eyes Of all contagious diseases, measles has the highest transmission rate, at 96-98%. Prior to the development of the measles vaccine, major outbreaks occurred every 2-3 years globally, resulting in 2.6 million deaths annually. Children should receive the measles vaccine at nine months and again at two years of age. If a child up to 15 years old has missed their vaccines or is unsure of their immunization status, they can visit their local health center for a catch-up vaccination. The first dose of the vaccine provides 93% immunity, and the second dose provides 97% immunity. The Ministry of Health also advises that if a child has received any other vaccine within the past month, the measles vaccine should be delayed. Notice: Please be aware that media organizations (television, radio, social media, and websites) must credit "ikon.mn" when using our information in full or in part.

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Sports

DDSH Handles International Broadcast of Mongolia vs Japan Match

Published: 2025-02-25 | Translated from: gogo.mn

For the first time in history, the Mongolian national team has qualified for the preliminary round of the Asian Championship and is competing against the best in its continent. DDSH was responsible for handling the international broadcast of one of the most important matches of this competition, the Mongolia vs. Japan game. Internationally, this type of transmission is called SNG or Satellite News Gathering, which involves using satellites to broadcast political visits, sports events, breaking news, and cultural concerts around the world, precisely on time. In Mongolia, this broadcasting is conducted by DDSH, which has experience in transmitting major events to countries such as China, Japan, and Hong Kong. Previous broadcasts include the Pope's visit to Rome, the Mongolia-Guam game in the preliminary round of the Asian Basketball Championship, and significant political visits. Live satellite transmission is considered more reliable, higher quality, and with greater accessibility than other types of broadcasts, as it helps prevent issues like network overload and cyber attacks. Therefore, there is a requirement to broadcast important international meetings and sports matches via satellite. DDSH fully meets these requirements and is the only official member from Mongolia of the World Teleport Association (WTA), an alliance of organizations that operate satellite services and ground stations. Live satellite transmission is considered more reliable, higher quality, and with greater accessibility than other types of broadcasts, as it helps prevent issues like network overload and cyber attacks. Therefore, there is a requirement to broadcast important international meetings and sports matches via satellite. DDSH fully meets these requirements and is the only official member from Mongolia of the World Teleport Association (WTA), an alliance of organizations that operate satellite services and ground stations.

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Arts

The International Exhibition of 'Genghis Khan' is Being Prepared to Open in Prague, Czech Republic

Published: 2025-02-25 | Translated from: gogo.mn

As part of the 75th anniversary of establishing diplomatic relations between Mongolia and the Czech Republic, the National Museum of Mongolia, in cooperation with the National Museum of the Czech Republic, is set to present the "Genghis Khan" international exhibition in Prague, Czech Republic. This exhibition will be displayed in the exhibition hall of the "Historical building" of the National Museum of the Czech Republic from March 10 to June 22, 2025. For the exhibition, a total of 698 items from 170 sets from the National Museum of Mongolia and the Institute of Archaeology of the Academy of Sciences of Mongolia will be exhibited. The National Museum of Mongolia has ordered special containers with special disinfection and acid-free special packaging, tailored to the size of the exhibits, from South Korea, and has taken out international insurance to cover the items until they are returned to the museum. The items have been transported in accordance with Mongolia's "Regulations on the Transportation of Cultural Heritage Items" under the supervision of customs, police, intelligence, and relevant authorities. In June 2024, academician S. Chuluun, director of the Genghis Khan National Museum, and Michal Lukeš, director general of the National Museum of the Czech Republic, signed a cooperation agreement in Ulaanbaatar regarding the organization of the exhibition and the participation of exhibits.

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The Measles Virus has a Transmission Rate of 96-98%: Ministry of Health Update

Sports

DDSH Handles International Broadcast of Mongolia vs Japan Match

Arts

The International Exhibition of 'Genghis Khan' is Being Prepared to Open in Prague, Czech Republic

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