Mar 19, 2025 65 min read Daily News Summaries

Mongolia News Summary for March 19, 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

Mongolia's Decline in the Democracy Index

Published: 2025-03-18 | Translated from: isee.mn

Mongolia's decline in its democracy index rating now places it among six countries with autocratic governance, which will likely lead to economic challenges and a drop in foreign investment. In 2023, Mongolia scored 0.43 on the Democracy Index, ranking 77th, slipping 16 places from the previous year. By the end of 2024, it had dropped four more places to 81st. This year, while its overall ranking remains unchanged, several indicators have diminished, aligning Mongolia with six countries under autocratic regimes, including Afghanistan, Bangladesh, and Pakistan. A country's democracy index is based on factors such as a multiparty system, free and fair elections, rule of law, transparency, smooth transition of power, independent media free from government influence, and protection of individual freedoms regardless of majority or minority status. Despite these principles, Mongolia has consistently declined in this index, now ranking among countries with autocratic governance. These countries include Afghanistan, Bangladesh, India, Kyrgyzstan, Pakistan, and Mongolia. Autocratic governance implies that ruling authorities hold absolute power, moving away from democratic principles and rule of law towards a more closed system where the state dictates everything. A significant factor affecting Mongolia's democracy index is the freedom of expression and the press. There have been attempts to censor and prosecute citizens expressing opinions on social media, which significantly impacts the decline in the democracy index. Being categorized among autocratic nations could lead to economic difficulties. Although determining a country's democracy index might seem like research, it involves aspects from all sectors including economy, culture, and politics. This index is crucial for creating global governance ratings and corruption perception indices and is actively used by international organizations. As a result, international financing, aid, and investments will face challenges, with significant effects on foreign loan interests. Essentially, the unpredictability of decisions by an autocratic government creates reluctance among international investors, who either avoid entering such markets or impose higher lending rates due to the uncertain conditions for investment.

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Standing Committees of Parliament to Meet

Published: 2025-03-18 | Translated from: isee.mn

Today, the standing committees in the Parliament will meet. Specifically, the Legal Affairs Standing Committee will discuss the conclusion of the Constitutional Court of 2025 report number 01, which concerns whether certain parts of the Electoral Law violate the Constitution of Mongolia. Meanwhile, in a joint meeting of the State Structure Standing Committee and the Economic Affairs Standing Committee, the five-year main development directions for Mongolia from 2021 to 2025, as well as the execution report of the Government of Mongolia's Action Program for 2024-2020 and the implementation report of Mongolia's development plan for 2024, will be discussed.

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Spring Session Concludes Without Budget Adjustment

Published: 2025-03-18 | Translated from: news.mn

Interview with economist B. Lkhagvajav: - How do you evaluate the current social and economic situation of Mongolia? - Before the current situation arose, I had already discussed and explained matters just before this year's budget was approved. At that time, the Ministers of Finance and Economic Development were defiant and refused to acknowledge the situation. Later, because the President placed a veto on the 2025 national budget, they had no choice but to acknowledge it and reduced the budget from 37 trillion to 35 trillion MNT, cutting it by 2 trillion MNT before presenting it. During the budget approval, I expressed two viewpoints. One was that coal prices would decrease, and the second was that tax revenue would decline. I warned about it and explained the reasons. Now those predicted conditions have come to pass. The drop in coal prices was not an unexpected situation. At the time, the Fiscal Stability Council and relevant agencies, as well as researchers, presented their analyses on this issue. However, decision-makers did not accept them. Let’s look at the last seven months of Mongolia's economic condition. In September of the previous year, we adjusted the 2024 budget by expanding it by 3 trillion MNT. At that time, I repeatedly warned, “The increase in budget revenue is temporary. Therefore, it should not be adjusted.” However, the 2024 budget was increased by 3 trillion MNT reaching 30.5 trillion MNT. Subsequently, a 37 trillion MNT budget was submitted for 2025. They essentially increased the budget by 10 trillion MNT within a month. Following the presidential veto, 2 trillion was cut, and a 35 trillion spending budget was approved. But today, revenue from coal is several trillion short of what was planned. We have faced similar challenges before. For example, we need to revisit the 2013 situation when coal prices fell fivefold. Mongolia's economy was in a difficult situation until 2016. Even before that, in 2008, coal and copper prices plummeted unexpectedly, causing hardships. These conditions are repeating today. Yet, Finance Minister B. Javkhlan is stating, "There’s no condition for a budget adjustment," which is quite a foolish statement that should be ceased. It’s right to urgently cut ineffective spending in the budget. As coal prices continue to fall in the near future, the condition for a budget adjustment will arise. Instead of having government plans labeled as Plan A and Plan B that sound whimsical, there is no concession other than to reduce budget spending and work with fewer expenses and less manpower. Looking at both external and internal conditions, if the situation becomes more severe, war intensifies, and Russia's ties with the US strengthen, the situation could get worse. Clearly, this is not a short-term difficulty. - Every year there is skepticism about whether Mongolia can properly plan its budget based on studies and calculations. Adjusting the budget three times in a year seems common now. Is this a healthy occurrence? - A budget is based on taxes. One of the things I repeatedly stressed to the point of exhaustion during this year's budget approval was the issue surrounding tax revenue. The VAT law was enacted in 2015 and has been implemented since 2016. Over the last 9 years, tax revenue has always exceeded by 15-20% every year. However, now tax revenue has reached its saturation point. In 2015, there were around 1,600 card machines and 12,000 POS machines that read cards. Now, VAT tickets are being issued at 350,000 points. Back then, tax couldn't be collected from certain points, but in the last 9 years, we've managed to reach the saturation of tax revenue. Therefore, last autumn, I warned that "tax revenue will decrease. It will not exceed 15-20% like in previous years." In theory, the process is ongoing. On the other hand, there are seven types of revenue that make up the budget. We have presented an optimization model for these revenues mathematically. It outlines how much of each of these seven types of revenue should be collected and what is the optimal level of each tax type while showing their interrelations. Unfortunately, no one uses the prepared theoretical model. Secondly, there should be optimization of expenses according to state, social, and citizen needs. However, the government does not approach this expense optimization. They aren't interested in approaching it because they want to spend money unchecked and have no interest in constraint. Therefore, with the VAT system and the help of three million citizens, ways to form budget revenue have been found, yet they don’t budge when it comes to expenditure. As a result, they frequently change, add, and subtract their budget expenditure amounts. Due to a lack of knowledge, information, and systematic approach, this is causing significant mistakes. President Khurelsukh and Prime Minister Oyun-Erdene are far from financial and economic people, so for the last eight years, the ministers of finance have been doing almost the work of the prime minister. Even today, B. Javkhlan is handling these duties. To be precise, the finance minister should have been dismissed last year for presenting a 37 trillion MNT budget and being vetoed by the President. To dismiss a finance minister, the prime minister should have greater knowledge and experience, which L. Oyun-Erdene does not have, so he is being led along. That’s why today the finance minister is saying there is no need to adjust the budget. I’m sorry, but we are inevitably reaching the numbers where a budget adjustment has to be made while the spring session hasn’t even concluded. An urgent measure is needed. Fire 20 thousand civil servants. Today, the trouble is that 206 thousand civil servants, 300 thousand MPP members, and 130 thousand DP members collectively form 700 thousand people who consume resources while one million left behind struggle and suffer. Despite giving all earnings as taxes, insatiable "monsters" remain. - In 2025, Mongolia plans to increase its tax revenue by about 20%. However, if this continues for a long time, it seems we observe a reduction in the percentage of taxes collected for the budget. Business entities paying taxes even say the high tax rate is a significant burden for them. As a businessman, how do you evaluate the amendments to the Tax Package Law to be discussed during the spring session of Parliament? - Related to the new year's speech from the Prime Minister, several discussions on the Tax Package Law were held during the Parliament’s autumn session break. It seems unclear what exactly the reforms within the Tax Package Law will be. Are they planning to replace one system with another? There’s talk of alterations between systems being called reforms. We made changes in the tax environment three times previously, and now we are renewing it for the fourth time. What is the current renewal aiming for? Is it a philosophical change, a quantitative change, or perhaps a reform of the tax agency itself? Such detailed issues should be included. However, it appears the Ministry of Finance and tax agency are making only “cosmetic” changes by changing some figures under the pretext of creating a stir from the PM's words. No significant changes are seen in the NSSF. Despite calling it reform, they aren't making a system change. Instead, within the scope of the reform, limited changes should be done: give more for the VAT refund, base the VAT registration on a cash basis, stop collecting VAT at the customs, let the state reclaim 100% of its VAT, increase the tax-tier level for enterprises—like changing the article for taking a 25% tax from enterprises with 6 billion MNT revenue to 12 billion MNT. In the end, the primary change must be stopping penalty interests applied on taxes. Firms that cannot afford to pay taxes end up burdened with penalty debts. A mechanism where tax is taxed again operates in Mongolia. This must be stopped. Also, a specialized tax court must be established. For instance, tax disputes should be resolved by a judge who is specialized in tax and holds a master's degree in economics and finance. Of the 463 prosecutors dealing with breaches, over 60 work on economic violations. However, none of these over 60 prosecutors even hold a bachelor’s degree, let alone a master’s degree in economics, tax, or finance. Annually, there are about 1.5-2 million breaches related to customs, borders, tax, and finances. How can these be supervised? If system changes like these are done parallel with judicial and other improvements, then there could be a genuine reform. However, the PM is being deceived by their tactics, and they keep it at a shallow, PR-like level. I’m getting irritated by this. When attending some meetings with the PM recently, it’s clear even he doesn’t comprehend the tax reform issue. It’s always half-measures, making a spectacle, and winding it up like PR. Regarding the Tax Package Bill debate, I intend to express my position strongly. - Although budget revenues dropped along with coal prices, isn't it possible to cover them with revenues from other non-mineral resources? - Excuse me, exporting 60-70 million tons of coal annually is sufficient. We can’t ship more than that soon. At least another three years are necessary to connect the railways. Transporting by trucks, today’s situation peaked with exporting 60-70 million tons of coal based on available wagons. To reiterate, in 2013, within just three months, the coal price plummeted from $150 to $32. During that period, even when PM Batbold had secured a contract to supply at $57, Altanhuyag canceled it straightforwardly, and when the prices dropped, they had to negotiate with the Chinese again for a contract at $32. When coal prices decline, it benefits the Chinese. They undertake favorable operations for themselves during low coal prices. Ever since last autumn, these operations commenced. On top of this, the government began oppressing self-managing businesses related to mining and coal. There’s a wave of appointing state representatives into businesses, halting their operations. While the government itself is robbing and looting domestic enterprises, who would trust us to invest? Today, even after signing a contract, if talk arises that the government will take 34% tomorrow, who would invest seeing this madness? The enthusiasm from functioning companies vanished since last December. - Mongolia plans to carry out quite a few mega projects relying on foreign investments. Aren’t foreign investors interested in Mongolia? - Foreign investors won't be interested. Why should they care? In their eyes, they see the local businessmen coerced and forced, and they’re hearing demands like “Kneel, relinquish your assets.” While witnessing the robbery of domestic businesses, foreigners perceive even one invested dollar goes to naught. Secondly, Mongolians consistently deceive foreign investors. More precisely, Mongolians have more instances of misleading and deceiving foreigners. On top of that, from Mongolia’s $36 billion debt, Oyu Tolgoi comprises $12 billion, and the government $8 billion. The remaining $16 billion relates to debts that use mining licenses as collateral. Foreigners who invested this $16 billion hear talks of state confiscation, and their fear of losing everything grows. In an atmosphere of such fears, where do new investments come from? Furthermore, with corruption and bureaucracy, there’s no comparative benefit. Superficially, corruption seems absent, but actual circumstances differ. Furthermore, infrastructure development is poor. Given such conditions, there’s nothing favorable for investors here. In comparison, moving to nearby hardworking places absorbing investments, like Kyrgyzstan and Uzbekistan, seems more sensible.

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Donald Trump Issues Order to Shut Down "Voice of America"

Published: 2025-03-18 | Translated from: isee.mn

U.S. President Donald Trump has signed an order to shut down the "Voice of America" radio, which is funded by the federal government. He accused the media organization of holding "radical views against Trump," leading to this decision. The "Voice of America" radio, which has a global audience of 400 million listeners, announced through its director Mike Abramowitz that a paid leave will be granted to the radio's 1,300 employees, including himself. The President's order also directed the U.S. Agency for Global Media, the parent company of Voice of America, to limit its operations. President Trump has also decided to halt funding for many other organizations funded by the federal government, such as federal agencies that prevent homelessness, federally funded museums, and libraries. These measures are part of efforts to cut federal government budget expenses, carried out according to the policies and plans of Trump's adviser, billionaire Elon Musk. Interestingly, "Voice of America" radio had previously published several articles about Zarig.mn journalist N.Önörcetseg and was known as an agency strongly advocating for journalists' freedom. Source: BBC News

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Putin Agreed to Several Conditions of Negotiations

Published: 2025-03-18 | Translated from: news.mn

The presidents of the United States and Russia are set to discuss a ceasefire in Ukraine today. "Every week, 2,500 soldiers are losing their lives on both sides. This war must end now. We are expecting much from the call with Putin. We will see if we can work out a peace agreement and a ceasefire. I believe we can," Trump said. They likely spoke on the phone this morning. Furthermore, Trump mentioned that Putin had agreed to several conditions of the negotiations before the phone call. However, U.S. officials have different evaluations of the progress of the ceasefire negotiations. Specifically, after meeting with Ukrainian officials, U.S. Secretary of State Marco Rubio stated, "Most of the discussions were about the process rather than specific conditions." Simultaneously, the UK and France have urged Putin to prove his desire to negotiate peace with Ukraine. French President Emmanuel Macron praised Zelensky's courage for accepting the ceasefire proposal and urged Russia to do the same. He tweeted: "Enough death. Too many lives have been lost. Enough destruction. The sound of guns must stop." Meanwhile, British Foreign Secretary David Lammy stated, "Putin must now agree to a full and unconditional ceasefire. He shows no signs of being serious about peace negotiations." The conditions of the ceasefire negotiations include issues related to the power plant located at the Russian-Ukrainian border. This facility is likely to be the Zaporizhzhia nuclear power plant, which is considered the largest in Europe. SOURCE: BBC

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The Spring Session of the State Great Khural Commenced with 58.7% Attendance of Members

Published: 2025-03-18 | Translated from: unuudur.mn

The State Great Khural's regular spring session of 2025 commenced yesterday with the attendance of 74 members, equating to 58.7% of the total membership. At the opening of the session, Prime Minister L. Oyun-Erdene, the Chairman of the Constitutional Court, the Prosecutor General, members of the Cabinet, the Chief of Staff of the President's Office, the Secretary of the National Security Council, leaders of organizations reporting directly to the State Great Khural, leaders of diplomatic missions in Mongolia, and heads of resident offices of international organizations were in attendance. The Chairman of the State Great Khural, D. Amarbaysgalan, delivered a speech to open the session. He stated, "During the recess, members of the State Great Khural met directly with citizens, familiarized themselves with the situations on the ground, and shared ideas, which will undoubtedly influence the discussion of legislative drafts in this spring session to be practical and constructive. Instead of citizens asking us for unrealistic expectations beyond our powers, they reminded us to act as a true parliament. Furthermore, citizens have raised fundamental and critical issues such as ensuring employment and income, providing schools and kindergartens with adequate conditions for children, bringing healthcare services closer, and developing roads, transportation, and infrastructure. Voters have also strictly criticized the need to improve the effective participation and attendance of State Great Khural members. Therefore, members elected as representatives of the people must remain faithful to their oath and fulfill their duties with honor." He continued, "The price of coal, a major export raw material, has decreased more than we had anticipated, and preliminary performance for January shows that budget revenue was 38.9% lower than the same period last year, with the budget balance resulting in a deficit of 493 billion tugriks. In January of 2024, the budget had reported a surplus of 676 billion tugriks. Therefore, maintaining the economic activation that had begun to recover is more crucial than ever in the current environment. To overcome vulnerabilities caused by external factors, we need to restructure the domestic economy and support production through policy. Future-oriented measures that shift the country's economy towards a more multi-faceted and diversified structure, including infrastructure investments that enhance our competitiveness, should not be overlooked." After the Chairman's speech, the session proceeded to a closed session to hear information from the National Security Council as per the related law provisions. On this day, several legislative bills were submitted to the Chairman of the State Great Khural. Specifically, members of the State Great Khural O. Tsogtgerel, J. Bayarmaa, Ch. Lodoysambuu, Kh. Temuujin, S. Tsenguun, and S. Erdenebold submitted a bill to amend the law concerning parliamentary oversight. Member O. Amgalanbaatar submitted a bill to add amendments to the law concerning animals. O. Amgalanbaatar remarked, "The penalties and fees mandated by legislation for hunting wolves without permission have been well-regulated. In most cases, citizens who hunt wolves to protect their lives or livestock have been penalized with fines for 'unpermitted' hunting, which violates the constitutional right to life and ownership." Additionally, member G. Uyankhishig submitted a bill to invalidate certain provisions of the law concerning advocacy.

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Indictment Issued for Attempted Bribery of Judge and Judge's Assistant

Published: 2025-03-18 | Translated from: unuudur.mn

An indictment has been issued by the National Prosecutor's Office (NPO) against citizen Ts. Urtnasan, who attempted to bribe the judge and the judge's assistant while being evaluated for guilt in a fraud case. During the period from the 10th to the 14th of this month, the prosecutor's office oversaw the investigation of 2,892 cases, preparing indictments for 253 criminal cases and sending them to court. This included six cases of corruption and abuse of office. One of these is the bribery attempt involving the said individual. He allegedly offered a bribe in 2024 to the judge and the assistant judge of the Bayanzurkh District Criminal Court to secure a favorable verdict for his case. Ts. Urtnasan is implicated in a case involving the fraudulent acquisition of a significant amount of property under the guise of building an apartment complex for citizen M. Based on Article 22.5-1 of the Criminal Code, which pertains to offering money or property to others to gain an advantage related to their official duties or position, the indictment was filed. The case has been transferred to the first instance court of the districts of Bayanzurkh, Sukhbaatar, and Chingeltei.

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The Supreme Court's Decision Must Be Enforced; If Not Implemented by Parliament, the Issue of D.Tsogtbaatar Will Be Brought to the Constitutional Court

Published: 2025-03-18 | Translated from: isee.mn

According to the law, the Supreme Court's decision must be enforced. If the Parliament does not implement it, they will address the issue of D.Tsogtbaatar to the Constitutional Court. Participants in the case related to the Development Bank began receiving decisions from the appellate court. On March 10, 2025, D.Tsogtbaatar, a member of Parliament and the brother of live streamer D.Munkh-Erdene, received his conviction decision for the Development Bank case from the Supreme Court. As a result, the Parliament is faced with the necessity to address the issue of D.Tsogtbaatar's parliamentary mandate and comply with the Constitution and other laws. Despite the Supreme Court's decision being formalized for over a month, Parliament has not yet implemented the law. According to Article 29.3 of the Constitution, if a member is found guilty of committing a crime by the court, Parliament shall revoke their mandate. Article 9.1.5 of the Law on Parliament states that if a member of Parliament is found guilty of committing a crime by a final court decision, their mandate will be terminated before the term specified in Article 7.3 of this law. Moreover, Article 3.5.4 of the Democratic Party's Rules stipulates that if a party member violates provisions 3.9.1.16 to 3.9.1.21 or is found guilty of a crime by the court, the issue of removing their membership will be resolved within five working days by the Central Executive Authority. Additionally, Article 50.2 of the Constitution of Mongolia states that "The decision of the Supreme Court of the State shall be the final decision of the court and must be enforced by all courts and other parties. If the Supreme Court's decision contradicts the law, the Supreme Court itself will invalidate it." Therefore, Parliament is obligated to enforce the final decision of the Supreme Court. As a result, there is a requirement for Parliament to receive the court decision and make an official decision by issuing a formal letter. The Standing Committee on State Structure of Parliament has sent an official letter to the Supreme Court regarding the issue of MP D.Tsogtbaatar. The chairman of the Standing Committee on State Structure, J.Bat-Erdene, stated in an interview with the press that once a response is received, the Standing Committee on State Structure and the Parliamentary session will review this issue. Some lawyers have expressed the position that "Parliament must receive and accept the Supreme Court's decision. Otherwise, the finality of court decisions will be undermined, and the principle that court decisions must be enforced will be violated." Therefore, if Parliament does not accept the Supreme Court's decision, it might be brought to the Constitutional Court on the grounds of violating the Constitution. To recall, MP D.Tsogtbaatar served as the Director of the Loan Department of the Development Bank from 2016 to 2020. During this time, he was implicated in abusing his official position and creating advantages for others, resulting in being charged in the "Development Bank" case. He was accused of creating advantages for “Mon Dulaa”, “Gaz Import”, and “Beren” LLCs, causing significant damage to the Development Bank. The process went through three levels of court, and on December 11, 2024, the Supreme Court found D.Tsogtbaatar guilty under Article 22.1-2 of the Criminal Code, sentencing him with a two-year ban from public office and a fine of 20 million MNT.

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Police Detain 'Noorog' Media Staff and Release After Interrogation

Published: 2025-03-18 | Translated from: news.mn

There is information circulating that law enforcement authorities have invaded the freedom of the press on a website, seizing office items according to urgent procedures, and subjecting individuals to relentless overnight interrogation. Specifically, it's reported that the police detained and questioned young staff from 'Noorog' media agency, a content-creating entity on social media. When asked for clarification, the police stated that the 'Noorog' media staff had been detained and questioned but were not arrested or held in custody as previously alleged. Investigation is ongoing. In response to concerns about press freedom limitations, well-known figures and numerous NGOs supporting free press have issued statements. Currently, 'Noorog' media has not provided any commentary, yet their office has undergone a search and devices such as computers, hard drives, and staff mobile phones have been confiscated. Lawyers have disclosed that eight staff members who refused to give statements without legal counsel were detained from 10:00 PM to 7:00 AM. 'Noorog' media agency announced they will hold a press conference today at 12:30 PM.

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Economy

Mongolia and South Korea to Open Markets and Engage in Free Trade

Published: 2025-03-18 | Translated from: gogo.mn

In the first two months of this year, Mongolia sold $6.6 million worth of goods to South Korea, accounting for only 0.3% of total exports. On the other hand, South Korea sold $58.8 million worth of goods to Mongolia, including cosmetics, kimchi, fruits, clothing, and electrical goods. To reduce this trade deficit and attract investment from South Korea, both countries plan to open their markets to each other and engage in free trade. Specifically, Mongolia will sign an economic partnership agreement with South Korea within this year. The Ministry of Economic Development will establish the Eurasian Economic Partnership in May. Thus, the agreement with South Korea will be the third agreement to liberalize trade reciprocally. Just recently, the Agricultural Research and Development Center of the Ministry of Food, Agriculture, and Light Industries signed a memorandum of understanding with South Korea’s GITC Co., Ltd. to collaborate on agriculture, including greenhouse production of fine vegetables, fruits, decorative trees, and shrubs. The two sides will work together in the greenhouse sector, providing advice and information, exchanging experiences, organizing research, training, and seminars, and developing incubator centers and startup businesses. D. Ünenbat, director of "Mandora" LLC, said: Last year, 180,000 South Korean tourists visited our country, making South Korea the leading source of tourists. On the other hand, many of our citizens travel to South Korea for medical treatment. Until 2026, South Korean tourists can visit our country visa-free for 90 days. This decision has increased the number of tourists. They stay an average of five days in our country. In addition to visiting Khuvsgul Lake, the southern Gobi region, and the Khongor Sand Dunes, they come to Mongolia to stargaze. Each tourist spends at least 3.4 million MNT. Mostly young people come. Last year, celebrities from that country visited and prepared programs that had a big impact. Elderly tourists relax in Ulaanbaatar and Terelj before returning. However, Koreans' interests may change quickly. Therefore, if our country continues its tourism policy steadily and regularly participates in exhibitions held in South Korea, the number of tourists will increase. This year, more than 180,000 tourists might come. From May, the first tourists arrive, and they come until the end of September. South Korean tourists come purely as tourists. The citizens of our two neighboring countries enter with tourist visas, but they also come for other purposes, such as transiting. South Korean tourists come just to relax. There are no vast plains there. Korean tourists stay in Mongolian gers, slide on sands with sledges, and ride horses. The initial tourists left satisfied. L. Enkh-Amgalan, Head of the Macroeconomic Policy Department of the Ministry of Economy and Development, stated: Preliminary research has shown that establishing this agreement is beneficial for our country. Therefore, we will enter into an agreement. After meeting with businessmen and taking your suggestions, we will negotiate with South Korea. We will provide the same conditions to both foreign and domestic citizens and legal entities. However, we have clearly specified the sectors that only Mongolian citizens and legal entities can engage in. The favorable conditions we granted other countries will be provided in the same manner. This is the principle of international trade. We will not set any quotas, numerical limits, or demand for specific types or forms of legal entities. To promote competition, no more than two branches will be established in a given territory. We will not require the establishment of representative offices. Sales of medicines must be conducted through representative offices, and there are a few such limitations. We will not specify any nationality requirements for board or executive positions. At least 25% of the Board of Directors must be Mongolian citizens. There will be no performance requirements placed on companies. At least 50% of the employees must be Mongolian citizens; there will be no requirement to use only goods and materials from Mongolian suppliers or to export goods and services at a certain level. Legal Counsel of the Agreement, Z. Shagdarsuren, remarked: The economic partnership agreement is an international treaty and therefore has precedence over domestic legislation. Each provision of the agreement is extremely important. Also, the two annexes to the agreement are of comparable importance. Our country is part of the general agreement of the World Trade Organization. In the annex to this agreement, it specifies which sectors foreign investment will not be allowed in. In the annex to the agreement we will conclude with South Korea, we have named our open and closed sectors. Where the annex does not specify, the other party is not committed to free entry and operation. That country expresses its desire to invest in our mining sector. The draft agreement may be amended at the negotiation stage. By restricting the mining sector, it is closed only to the private sector of that country. This sector is still developing in our country, and it is uncertain what regulations we will implement in the future. Therefore, the sector has been entirely closed off. However, it remains open to South Korean state-owned entities. Hungary Bank Board Member, International Arbitrator G. Khongor, expressed concern: There is a risk that Koreans will take the cream and leave us with scraps. They block our private sector from many sectors, and since they are resource-poor, they have opened up their mining sector. The draft agreement is unlikely to be realized in our context. Koreans have become adept at conducting high-level international financial negotiations. When drafting the agreement, we must not limit ourselves to the current economic capacity of Mongolia. Although our current financial capacity is limited, the situation will change tomorrow. South Korea has closed its maritime transport. We have no access to the sea, but there are companies that lease the Mongolian flag to conduct maritime transport. We also transport their goods by sea. Some of it is transported by our company. Our rights are guaranteed by a UN convention. However, we cannot insist on exclusive transportation rights. We must be very cautious when entering into an agreement. Because after signing, companies from both countries will cooperate. Legal disputes between them are inevitable. Mongolia is a developing country. While South Korea is one of Asia’s "tigers." Partnerships should be mutually beneficial. Yet, this project has aggressive overtones. Deputy Chairman of "Food Revolution" NGO D. Munkhtur commented: It is too early for our country to establish economic partnerships with the highly developed countries of the world. For example, ten years ago, we imported $300 million worth of goods from Japan, and now it exceeds $1 billion. However, our exports remain at $10 million. When we try to export agricultural products to that country, we do not receive a positive response from their agricultural ministry experts. Although the country provides significant humanitarian aid, they are dumping their Prius cars here. Despite our small and poor population, Mongolia ranks third in purchasing Japanese cars. Japan wins, but we do not benefit. We are entering into another agreement without correcting the initial mistake. The agreement with Japan should be canceled. There is the potential to sell animal feed worth $500 million annually from Mongolia to South Korea. We have tried this. The quarantine conditions are reasonable. It is necessary for the agreement to include provisions for guaranteed purchases.

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China's Steel Production May Shake Mongolia's Economy

Published: 2025-03-18 | Translated from: itoim.mn

China is implementing policies to reduce energy consumption and greenhouse gas emissions associated with steel production. According to official reports, due to this reform policy, China's crude steel production decreased by 1.5% in the first two months of 2025 compared to the previous year. In 2024, China's steel producers produced 1.005 billion tons of steel, a decline of 1.7% from the same period the previous year, reaching the lowest level in five years. The National Development and Reform Commission (NDRC) of China has announced plans to further reduce steel production, though no specific targets have been disclosed. This reduction aims to decrease overcapacity in steel manufacturing, align with domestic demand, improve environmental standards, and enhance the sector's efficiency. China is working toward reducing carbon emissions from steel production by 200 million tons by 2025. This decision significantly impacts environmental goals and global market changes. Since China is the main buyer of Mongolia's iron ore and coking coal, a decrease in steel production has a high probability of directly impacting Mongolia. In particular, the following several major effects on Mongolia are anticipated: Decrease in demand for Mongolian coking coal and iron ore: As over 90% of Mongolia's raw material exports go to China, a slowdown in China's steel production will reduce demand for these raw materials. Consequently, the physical volume of iron ore and coking coal may decrease, and prices may fall, potentially negatively affecting the mining sector and the economy. Decrease in export revenues: Exports of mining products, particularly coal, are the main source of revenue for Mongolia's budget. If China imports fewer coal and iron ore from Mongolia, it will disrupt the main source of budget revenue, reduce foreign currency inflows, and negatively affect economic growth and the balance of payments. Possibility of shifting to alternative markets: If demand from China decreases, Mongolia will seek other purchasing countries, such as India, Japan, and South Korea. However, being a landlocked country, supplying products to third neighbors will require significant changes in transportation logistics and new trade agreements, which are long-term tasks. Mongolia's Prime Minister L.Oyun-Erdene has highlighted the risks from China's reduced steel production, particularly the impact on Mongolia's coking coal exports. In a recent interview, he outlined measures to mitigate the negative economic consequences, including: Improving export infrastructure: The Prime Minister mentioned Mongolia's aim to establish a railway connection agreement with "China Energy Group." This initiative aims to increase Mongolia's coking coal exports and compensate for revenue losses from decreased demand. Diversifying energy cooperation: Mongolia signed a $1.6 billion agreement with France's Orano to develop its first uranium mine, Zuuvch-Ovoo. This project is part of a strategy to diversify its energy sector and reduce overreliance on coal exports. At the "Two Sessions" of China held this month, key policies and measures affecting steel production were introduced, including: China's 2025 economic growth target is 5%, and limiting steel production is part of this target. Measures will be taken to limit crude steel production to reduce overproduction, balance market demand and supply, and reduce carbon emissions. However, the exact percentage of reduction has not been disclosed. The main objectives include strictly enforcing output limits on steel production to ensure environmental sustainability, reducing waste emissions, and transitioning to environmentally friendly production. These measures aim to enhance the competitiveness of China's steel sector while ensuring environmental sustainability. China is focusing on three main directions to maintain economic growth, limit the surplus in steel production, reduce environmental pollution, and support technological advancement.

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The Budget Deficit Emerges Due to Budgetary Amendments

Published: 2025-03-18 | Translated from: news.mn

The issue of whether to make further amendments to the budget is drawing public attention due to a shortfall in Mongolia's budget revenue. Specifically, experts in the field are highlighting the risks to macroeconomic stability posed by an increase in budget expenditures by 17%, which was made by overly optimistic projections of income from the export of mineral resources. An overview of the banking sector for the previous year was presented to the public. This study noted several key issues related to Mongolia's budget revenue and its future economic conditions. L. Amar, Executive Director of the Mongolian Banking Association, stated: "Though budget revenues have increased with the export of mining products, the budget deficit emerged due to the impact of two local elections and the associated budgetary amendments. This situation has led to twin deficits in the state budget and the current account, creating significant challenges for maintaining economic stability going forward." The steady growth in the mining sector and its related transport and logistics sector, along with ongoing growth in the service and trade sectors, have played crucial roles in the economy's 4.9% growth. However, the agricultural sector's decline from the beginning of the year, due to weather conditions, has negatively impacted economic growth. Planning for high economic growth based on hopeful increases in the price and volume of mineral products—and therefore enacting high budgetary revenue and expenditure levels and planning to launch large projects—is akin to dividing the skin of a bear before catching it. Moreover, the need to enhance infrastructure work to support non-mining sectors, especially construction, manufacturing, and agriculture, is increasingly urgent. Unless infrastructure work aimed at boosting exports is intensified and policy measures to attract foreign investment are swiftly implemented, achieving the overly optimistic economic growth will remain a fantasy.

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Preliminary Balance of Payments Deficit of 680.7 Million USD in January This Year

Published: 2025-03-18 | Translated from: ikon.mn

According to preliminary data for January this year, the balance of payments recorded a deficit of 680.7 million USD. This is an increase of 594.3 million USD compared to the same period last year. The balance of payments is a statistical report that summarizes transactions such as trade, services, income, current transfers, financial and capital inflow and outflow between the national and non-national economy over a specific period. The current account showed a deficit of 512.9 million USD, an increase of 190.9 million USD compared to the same period last year. Meanwhile, the financial account was profitable with 481.4 million USD in January 2024, but preliminary results for the first month of this year show a deficit of 5 million USD. The income from foreign direct investment, which reached 229 million USD in January 2024, decreased to 95 million USD this January, contributing to this change. Warning: Media organizations (Television, Radio, Social media, and Websites) must mention the source (ikon.mn) when using our information in any form, either fully or partially.

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NSO: The budget deficit reached 565.8 billion MNT in the first two months of this year

Published: 2025-03-18 | Translated from: ikon.mn

The National Statistics Office (NSO) has presented the social and economic indicators for the first two months of 2025. Concerning the budget balance for this period, the Head of the Pricing Statistics Department of NSO, G. Munkh-Orkhil, stated, "The total revenue and assistance of the unified state budget reached 4.1 trillion MNT in the first two months of this year, decreasing by 22.9% compared to the same period last year. The balanced revenue and assistance amounted to 4 trillion MNT, a decline of 21.1%. Total expenditure and net lending reached 4.6 trillion MNT, increasing by 22.1%, resulting in a 565.8 billion MNT deficit." The reduction in budget revenue compared to the same period last year was mainly influenced by a decrease in income tax by 592 billion MNT, VAT by 120 billion MNT, and non-tax revenue by 542 billion MNT. On the other hand, the increase in expenditure and net lending by 830 billion MNT compared to the same period last year was mainly influenced by an increase of 348 billion MNT in goods and services expenses, including wages, salaries, and bonuses by 283 billion MNT or 40%, and current transfers by 508 billion MNT or 33%. The Ministry of Finance has repeatedly mentioned that although the budget revenue is declining due to the fall in coal prices, there is no need for budget adjustments. Specifically, Finance Minister B. Javkhlan stated, "Amendments to the budget are required under Article 34.1.2 of the Budget Law if there are unforeseeable circumstances that lead to a decrease in budget revenue, an increase in expenses, and an increase in the unified budget deficit by three percent of the Gross Domestic Product (GDP). Our country's GDP is 95 trillion MNT. Three percent of this is approximately three trillion MNT. However, a situation that would cause a shortfall in revenue by three trillion MNT has not occurred. Therefore, it is too early to discuss amendments when it is only March." Meanwhile, the Mongolian Bankers Association criticized the optimistic forecast of budget revenue and the increase in expenses during favorable commodity prices, which inevitably leads to debt. Warning: Media organizations (Television, Radio, Social, and Web pages) should note that they must credit the source (ikon.mn) when using our information in any form, in full or partially.

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"A Dual Deficit of Budget and Balance of Payments Is Emerging as a Risk"

Published: 2025-03-18 | Translated from: unuudur.mn

The Mongolian Bankers Association and the Banking and Finance Academy held a press conference, warning that the economic situation in our country is becoming difficult. Last year, the banking sector's indicators were stable, with lending growing by 37%, and the ratio of non-performing loans reaching the lowest level in the last 15 years. The total assets of the banking sector grew by 23%, as a result of which the five systemically important banks are planning to distribute dividends amounting to 530 billion MNT this year. Although the physical volume of coal supplied to China in 2024 reached historical levels, export revenue decreased compared to 2023 due to a drop in prices. Despite the large current account deficit, the balance of payments showed a surplus of 622 million USD due to bonds and other loan resources raised by the capital and banks in foreign markets. However, the budget balance is currently facing a deficit of about 600 billion MNT due to the parliamentary and local elections as well as an increase in state budget expenditures. Expenditures increased by 35% compared to the same period last year, equaling 38% of the gross domestic product. L. Amar, Executive Director of the Mongolian Bankers Association, stated, "The dual deficit of the state budget and current account is likely to pose significant challenges to maintaining economic stability in the future." Meanwhile, G. Bumchimeg, Executive Director of the Banking and Finance Academy, emphasized the need to improve budget execution, monitoring, and align it with long-term planning. It was also highlighted that it is crucial to consolidate the budgets of state and local government-owned companies and compile a unified budget. Moreover, mega projects should be prioritized and aligned based on their social and economic impact to avoid putting pressure on the budget.

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The Fiscal Balance Showed a Deficit of 565.8 Billion Tugriks

Published: 2025-03-18 | Translated from: montsame.mn

According to preliminary execution for the first 2 months of this year, the total revenue and grants of the state's unified budget reached 4.1 trillion tugriks, which is 1.2 trillion (22.9%) less than the same period last year. Balanced revenue and grants amounted to 4 trillion tugriks, decreasing by 1.1 trillion (21.1%). Total expenditure and net loan repayment reached 4.6 trillion tugriks in the first 2 months of this year, resulting in a balanced deficit of 565.8 billion tugriks, as reported by the National Statistical Committee. Tax revenue reached 3.8 trillion tugriks during the first 2 months of this year, decreasing by 1.1 trillion (22.9%) tugriks from the same period last year. This decrease was influenced by decreases in income tax revenue by 591.5 billion (30.3%), value-added tax by 119.8 billion (13.9%), and mineral resource utilization fees by 542.2 billion (65.5%). However, social insurance revenue increased by 195.5 billion (34.8%), and foreign operations revenue increased by 32.5 billion (13.9%). The tax revenue was composed of 36.1% income tax, 19.7% value-added tax, 20.1% social insurance, 7.1% foreign operations, 5.5% excise tax, and 11.5% other types of taxes, fees, and charges. The state's unified budget expenditure and net loan repayment reached 4.6 trillion tugriks in the first 2 months of the year, an increase of 830.4 billion (22.1%) tugriks from the same period last year. The increase in expenditure was driven by a 348.5 billion (31.1%) increase in goods and services expenditure and a 507.7 billion (32.5%) increase in current transfers. However, capital expenditure decreased by 137.4 billion (21.3%). During the mentioned period, current transfers accounted for 45.3% of total expenditures, goods and services for 32.1%, capital expenditure for 11.1%, interest expense for 7.7%, and subsidies for 3.8%. Capital expenditure reached 508.9 billion tugriks, decreasing by 137.4 billion (21.3%) compared to the same period last year. Within this, building and construction expenditure decreased by 86.7 billion (17.1%), and equipment expenditure decreased by 62.7 billion (62.9%), which were the main factors. Meanwhile, other capital expenditures increased by 10.6 billion (32.3%).

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KhasBank JSC's Audited Financial Statements for 2024

Published: 2025-03-18 | Translated from: ikon.mn

The Board of Directors of KhasBank JSC convened and approved the financial and operational report of KhasBank for 2024, along with the audited financial statements by "Ernst & Young Mongolia Audit" LLC. According to the audited report, as of December 31, 2024, KhasBank JSC's total assets were 6,321.8 billion MNT, total liabilities were 5,590.2 billion MNT, and equity (shareholders' equity) was 731.6 billion MNT. The bank achieved a net profit after tax of 171.7 billion MNT during the reporting period. As presented in the audited report, KhasBank JSC earned interest income of 716.2 billion MNT in 2024, spending 396.3 billion MNT on interest expenses for customers, 154.8 billion MNT on operating expenses, and 58.8 billion MNT on corporate income tax expenses. Following amendments to the Banking Law, and after offering its shares to the public in June 2023, the Bank is now operating as a publicly traded company with over 11,000 shareholders. During the reporting period, KhasBank distributed dividends of 61.0 billion MNT to its shareholders (42.1 billion MNT from the 2023 net profit and 18.9 billion MNT from the net profit of the first half of 2024). Regarding the net profit at the end of 2024, KhasBank's Board of Directors has decided to propose at the Shareholders' Meeting the distribution of a dividend of 27 MNT per share, totaling 28.4 billion MNT. According to the bank's regulations, this dividend will be distributed after receiving approval from the Bank of Mongolia and ratification at the Shareholders' Meeting. Warning: Media outlets (TV, Radio, Social Media, and Websites) must cite their source (ikon.mn) when using our information in any form, whether in full or in part.

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The total credit debt balance reached 37.8 trillion MNT in the first two months of 2025, growing by 38% compared to the same period last year

Published: 2025-03-18 | Translated from: ikon.mn

Money supply in the first two months of 2025 reached 41.8 trillion MNT, an increase of 11.2% or 4.2 trillion MNT compared to the same period of the previous year. This growth was primarily influenced by a 26% increase in MNT deposits, which rose by 4.6 trillion MNT, as presented by G. Munkh-Orgil, Head of the Price Statistics Department of the National Statistics Office. He also stated, "Citizens hold 86.7% or 16.2 trillion MNT, and business entities and organizations hold 13.3% or 3 trillion MNT of the MNT deposits. By the end of February 2025, the total credit debt balance amounted to 38.7 trillion MNT, increasing by 10.6 trillion MNT or 37.8% from the same period last year, and by 1.3 trillion MNT or 3.4% from the previous month. The growth rate of 37.8% from the same period last year was influenced by a 43.2% or 7.1 trillion MNT increase in citizens' credit debt and a 24.8% or 2.8 trillion MNT increase in business entities' credit debt." "Of the total credit debt balance, 91% is regular, 3.8% is of concern, and 5.2% is non-performing loans," he added. Notice: Media organizations (Television, Radio, Social, and Web pages) must cite their sources (ikon.mn) when taking and using our information in any form, fully or partially.

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Budget Deficit Reaches 565.8 Billion MNT

Published: 2025-03-18 | Translated from: unuudur.mn

According to preliminary figures for the first two months of this year, the total revenue and aid of the state consolidated budget reached 4.1 trillion MNT, which is a 22.9% (1.2 trillion MNT) decrease compared to the same period last year. The balanced revenue and aid amounted to 4 trillion MNT, a 21.1% (1.1 trillion MNT) decrease, as reported by the National Statistics Office. Total expenditure, including net repayable loans, reached 4.6 trillion MNT, resulting in a budget deficit of 565.8 billion MNT. Last year, during the same period, the budget had a surplus of 1.3 trillion MNT, but now the deficit has reached half a trillion MNT. The budget deficit was mainly influenced by a 49.9% decrease in foreign trade revenue and a 22.9% decrease in tax revenue compared to the same period last year. Additionally, the cost of goods and services increased by 31.1%, and current transfers increased by 32.5%.

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The Average Monthly Salary of Employees in Budgetary Organizations is 2.7 Million MNT

Published: 2025-03-18 | Translated from: montsame.mn

The average nominal monthly salary per employee nationwide is 2 million 672 thousand MNT, and the median salary is 2 million 229 thousand MNT. Compared to the same period in 2023, the average nominal salary increased by 436.6 thousand MNT, and the median salary increased by 448 thousand MNT, according to the National Statistics Office (NSO). According to the social insurance contribution report of the General Department of Social Insurance, in the fourth quarter of 2024, 52.7 thousand business entities and organizations (AENOs) covering 787.4 thousand workers were included. The number of AENOs that paid social insurance contributions increased by 1.6 thousand compared to the same period in 2023. However, the number of employees increased by 16.3 thousand compared to the same period in 2023. Among the total workers included in the social insurance contribution report, 116.2 thousand are in education, 110.9 thousand are in wholesale and retail trade, repair of vehicles and motorcycles, 81.9 thousand are in public administration, defense, and compulsory social security, 72 thousand are in manufacturing, 49.9 thousand are in construction, 49.5 thousand are in health and social welfare, 49.2 thousand are in transportation and storage, 46.5 thousand are in mining and quarrying, 30.1 thousand are in finance and insurance, 27.9 thousand are in management and support, and 153.4 thousand are in other sectors. In terms of average nominal monthly salary by sector, the mining and quarrying sector has the highest salary at 5.4 million MNT. This is double the national average. Meanwhile, salaries in the accommodation and food service activities sector are 1.7 million MNT, which is 1.6 times lower than the national average. Compared to the same period in 2023, real salaries by sector decreased by 2.3-8.4% for international organizations, permanent representatives, and those working in the mining and quarrying sector. However, in other sectors, salaries increased by 8.9-27.7%. Within this, the largest increase was in water supply, sewerage, waste management, and other service activities, and in activities of households as employers, where salaries increased by 20.2-27.7%. The percentage of workers with a salary of 2-3 million MNT is the highest at 25.8% among total insured individuals, while the percentage with a salary of up to 550.0 thousand MNT is the lowest at 2.4%. Compared to the same period in 2023, the percentage of insured individuals with a salary of more than 3.5 million MNT increased by 8.1 percentage points. Meanwhile, the percentage of those with a salary of up to 550.0 thousand MNT decreased by 7.8 percentage points. The average nominal monthly salary of employees is directly related to the number of employees in the organization. In Ulaanbaatar, the average nominal monthly salary of employees is 2.8 million, which is 83.8 thousand MNT higher than the national average, while in the western region it is the lowest at 2.2 million, which is 477.6 thousand MNT lower than the national average. By type of responsibility, the average monthly salary of employees in state-owned enterprises is 3.2 million MNT, in joint-stock companies it is 3 million MNT, and in budgetary organizations it is 2.7 million MNT, which is 18.2-574.1 thousand MNT higher than the national average, while in other organizations it is 55.8-1263.3 thousand MNT lower. The average nominal monthly salary in budgetary organizations is 2 million 690 thousand MNT, which increased by 528 thousand MNT from the same period last year. The average salary for men is 2.9 million MNT, and for women it is 2.4 million MNT. The gender salary gap decreased by 2.7 percentage points in the fourth quarter of 2024 compared to the same period last year. Also, in partnerships and cooperatives, women's average salary is 19.4-28.9% higher than men's, while in other types of responsibilities, men's average salary is 6.3-23.5% higher than women's. The average monthly salary for managers and professionals is the highest at 3.3 million MNT, which is 589.6 thousand MNT higher than the national average, while for agricultural, forestry, and fishery skilled workers it is 1.5 million MNT, which is 1.2 million MNT lower than the national average.

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Smartphone imports increase by $10.8 million

Published: 2025-03-18 | Translated from: ikon.mn

In the first two months of this year, our country imported $1.7 billion worth of goods and products from abroad. Imports increased by $115.7 million compared to the same period last year, mainly due to a $49.8 million rise in car imports and a $45 million rise in diesel fuel imports. Additionally, the import of smartphones increased by $10.8 million, as reported by the National Statistics Office (NSO). Composition of imports: - Petroleum products: 22.9% - Machinery and equipment: 20.7% - Other imports: 20.4% - Passenger cars: 13.6% - Other vehicles and parts: 9.4% - Food products: 6.9% - Basic metals: 6.1% As of the first two months of 2025, the import volume share was led by China at 30.8%, followed by Russia at 28.9%, Japan at 14.1%, the USA at 5.8%, South Korea at 3.4%, and Germany at 3.2%. Of the goods imported from Russia, 77% were petroleum products, while 84.1% of the goods imported from Japan were passenger cars. Regarding exports, our country exported $2 billion worth of goods and products in the first two months of this year, which is a decrease of $177.5 million or 8.1% compared to the same period last year. Warning: Media outlets (TV, Radio, Social and Web pages) must fully or partially cite their source as ikon.mn when using our information in any form.

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The term of Mongolbank's president B. Lhagvasuren reportedly ends this November

Published: 2025-03-18 | Translated from: isee.mn

The term of Mongolbank's president B. Lhagvasuren is coming to an end, and there were reports that the former member of parliament and minister Ch. Khurelbaatar will be appointed as his successor. When asked for clarification from official sources, it was stated, "The president of Mongolbank is appointed for a term of six years. The current president, B. Lhagvasuren, was appointed on November 22, 2019, during a parliamentary session. According to that, B. Lhagvasuren's term will end on November 22, 2025." Information regarding the appointment of former member of parliament and minister Ch. Khurelbaatar as the president of Mongolbank appeared after the 2024 elections, but officials have continued to deny this.

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Prices of Consumer Goods and Services Increase by 4.8-18.4% in Provinces

Published: 2025-03-18 | Translated from: isee.mn

The National Statistical Office of Mongolia reported on the socio-economic conditions of the country. The price of consumer goods and services, or inflation, stood at 9.6 percent nationwide in February 2025. In Ulaanbaatar city, prices increased by 1.8 percent compared to the previous month and by 10.3 percent compared to the same period last year. In the provinces, prices rose by 4.8 to 18.4 percent, respectively. The 9.6 percent increase in the price of consumer goods and services was mainly influenced by a 9.5 percent increase in the price of foodstuffs, beverages, and water, a 22 percent increase in housing, water, electricity, and fuel prices, an 18 percent increase in education services, and a 14 percent increase in hotel, public catering, and accommodation services.

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Car Loan Fee Reduced to 0₮

Published: 2025-03-18 | Translated from: gogo.mn

Here is some great news for customers interested in purchasing a car. Tavan Bogd Finance LLC is offering car loans with a fee of 0₮ until the end of this month in celebration of the military day. Down payment: 10%-30% Loan amount: Up to 300 million Term: Up to 72 months Download the PayOn app and check your loan eligibility. APP DOWNLOAD: https://payon.app.link/ For more information: 7533-1111.

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Notice of Shareholders' Meeting

Published: 2025-03-18 | Translated from: unuudur.mn

Company Name: BODI INSURANCE JSC Address: Bodi Tower, Jigjidjav Street, 3, Small Ring, Chingeltei District, Ulaanbaatar 15160 Date and Time of the Meeting: April 23, 2025, at 11:00 AM. Address of the Meeting Organization Location: The meeting will be held electronically using the BDSEC Securities LLC AGM web-based application (agm.bdsec.mn). Record Date for Shareholders Eligible to Participate: April 4, 2025. Matters to be Discussed at the Meeting: 1. Presenting the financial and operational results for 2024 2. Presenting and approving the board of directors' conclusions regarding the company’s 2024 financial report 3. Presentation regarding the distribution of dividends 4. Presenting the financial and operational plan for 2025 Procedure, location, and working hours for reviewing the draft resolutions and related documents of the shareholders' meeting: You, as a shareholder, can review the meeting documents on any of the working days between 10:00 AM and 5:00 PM before April 22, 2025, at one of the following locations or on the website https://bodi-insurance.com/. These locations include: • Your servicing securities company. • BDSEC Securities LLC's head office, Address: Youth Avenue 27/1, 8th khoroo, Sukhbaatar District, Ulaanbaatar City • You can come to the office of BODI INSURANCE JSC, inform the meeting organizing committee member G. Bilguun, and review the meeting documents. SHAREHOLDERS' MEETING ORGANIZING COMMITTEE Contact: Phone: 7000-4800 E-mail: info@bodi-insurance.com

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Seven Mongolian Enterprises Participate in "Foodex Japan 2025" Exhibition

Published: 2025-03-18 | Translated from: montsame.mn

Seven enterprises from Mongolia participated in the "Foodex Japan 2025" international exhibition held in Tokyo, Japan, from March 11 to 14. This exhibition, held for the fiftieth time, showcased over 3,000 brand products from manufacturers in more than 70 countries. Representing Mongolia were national producers such as "Khaan Jims" LLC with "Huba Haya", "Nord Road" LLC with "Khushkhan", "Bulgan Meat Market" LLC presenting horse meat products, "Tsagaan Asgat" LLC with "Shimiin Okh", "Takarajima Japan" LLC with sea buckthorn products, and "Vitafit Invest" LLC offering carrot juice and puree, as well as "MACU Cheese" brand products. Participants not only presented their goods but also exchanged experiences with companies engaged in similar activities, expanding their foreign relations with new business partners, following a tradition. Over the past 50 years, the exhibition has reached over 80,000 participants and more than 4 million buyers, helping participants expand their business operations. This year's exhibition aimed to promote goods and products manufactured in Mongolia to the Japanese market and, beyond that, to consumers in third countries. Representatives from the Ministry of Food and Agriculture, the Small and Medium Enterprises Department, and the Embassy of Mongolia participated, as informed by the sector's ministry.

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Published: 2025-03-18 | Translated from: ikon.mn

According to the General Department of Social Insurance's (SI) report on social insurance premium payments for the fourth quarter of 2024, a total of 787,400 employees from 52,700 enterprises were covered. The number of entities paying social insurance premiums increased by 1,600 compared to the same period last year and by 707 from the previous quarter, while the number of employees rose by 16,300 over the same period. As of the fourth quarter of 2024, the average monthly nominal salary per employee across the country was 2,672,000 MNT, while the median salary was 2,229,000 MNT. Compared to the same period last year, the average nominal salary increased by 19.5%, and the median salary by 25.1%. Examining average monthly nominal salaries by economic activity for the fourth quarter of 2024, the mining and extraction sector had the highest salaries, averaging 5.4 million MNT, which is twice the national average. In contrast, salaries in the hospitality, housing, and public catering sector were the lowest at 1.7 million MNT, 1.6 times below the national average. The real wage index decreased by 2.3-8.4% in sectors involving international organizations, resident representatives, mining, and extraction activities compared to the previous year, while it increased by 8.9-27.7% in other sectors. Notably, the water supply, sewage, waste management, and other services sectors, along with household activities employing household workers, saw the largest increase, ranging from 20.2-27.7%. When examining employee numbers by salary group, the largest proportion of social insurance payers, 25.8%, are those earning salaries between 2-3 million MNT, while only 2.4% earn up to 550,000 MNT, the smallest proportion. Additionally, the average monthly nominal salary of employees varies depending on the number of employees at an enterprise, with larger employee numbers correlating to higher average salaries. The National Statistics Office reported that 50% of social insurance payers earn less than 2.2 million MNT.

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Published: 2025-03-18 | Translated from: montsame.mn

The Social Insurance Organization is enrolling 1.16 million mandatory insured individuals and 171 thousand voluntary insured individuals in social insurance, organizing the distribution of pensions, allowances, and payments to the insured nationwide. However, people who are self-employed and voluntarily join insurance have often complained to the social insurance organization that "the contribution made by voluntary insured individuals is not considered as proof of financial income when applying for a loan from banks, similar to mandatory insured individuals." Therefore, the General Authority for Social Insurance has sent a request to all commercial banks to consider the participation and payment of contributions in voluntary insurance as a criterion for loan issuance and to support the citizens. If banks support this request, it will provide an opportunity for those paying social insurance on their own to obtain loans from banks. Follow @montsame.mn

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Diplomacy

Ambassador Richard Buangan Visited Khovd Province

Published: 2025-03-18 | Translated from: montsame.mn

The extraordinary and plenipotentiary Ambassador of the United States to Mongolia, Richard Buangan, is currently working in Khovd province. He began his official visit in Khovd province today and will continue his work there until March 20. Today, he met with the provincial leaders. Over the past period, the USAID-funded BEST program implemented by the Development Solutions NGO, as well as the Access program run by the U.S. embassy, have yielded many positive results. Notably, the BEST program trained over 2,400 citizens and businesses engaged in small and medium-sized enterprises and individual entrepreneurship, provided concessional loans totaling 28.6 billion MNT based on project selection, and expanded operations, creating over 400 new jobs. In the coming four years, Khovd province will support wealth creators and the private sector. Within this framework, 2025 has been declared the year to support wealth creators and small and medium enterprises. In the education sector, a goal has been set to establish a general education school that specializes in English language training with private sector involvement, according to Khovd Province Governor M. Amarsanaa. He also expressed his desire to continue implementing the programs locally, as the goal aligns with the BEST and Access programs.

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Chairman of the State Great Khural D. Amarbayasgalan Departs for an Official Visit to the United Kingdom

Published: 2025-03-18 | Translated from: gogo.mn

The Chairman of the State Great Khural of Mongolia, Dashzegviin Amarbayasgalan, has departed for the United Kingdom of Great Britain and Northern Ireland today upon the invitation of the Speaker of the House of Commons of the United Kingdom, the Honorable Lindsay Hoyle. The official visit will take place from March 18 to 23, 2025. The delegation was bid farewell by the Secretary General of the State Great Khural, B. Baasandorj, and Deputy Head of the British Embassy, Andy Battson. The United Kingdom of Great Britain and Northern Ireland is Mongolia's third neighbor and an important partner in Europe. This visit marks the first official visit at the level of the Chairman of the Parliament from Mongolia, making it noteworthy. The visit is aimed at expanding the relationships and cooperation being developed between Mongolia and the United Kingdom of Great Britain and Northern Ireland, strengthening mutual understanding, increasing the frequency of high-level dialogues, and enhancing inter-parliamentary cooperation between the two countries, as reported by the Media Office of the State Great Khural.

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State Secretary L. Munkhtushig Participates in "Raisina Dialogue"

Published: 2025-03-18 | Translated from: montsame.mn

Ulaanbaatar, March 18, 2025. State Secretary of the Ministry of Foreign Affairs L. Munkhtushig and his delegation are participating in the 10th "Raisina Dialogue" being held in New Delhi, India, from March 17 to 19 of this year. This dialogue, under the theme "People, Peace, Planet," is attended by about 4,000 representatives, including government members from 125 countries, former heads of state and government, business and technology leaders, as well as international, security, and strategy scholars and researchers. During this dialogue, the State Secretary of the Ministry of Foreign Affairs L. Munkhtushig held meetings with senior officials from the Foreign Ministries of India, Sweden, the Philippines, Spain, and Peru to exchange views on bilateral relations. The "Raisina Dialogue," organized by the Indian government's "Observer Research Foundation" since 2016, is a platform for extensive discussions on international conditions and security issues. Our country has consistently participated in this dialogue at the leadership level of the Ministry of Foreign Affairs, according to the Ministry of Foreign Affairs.

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Infrastructure

Hovd: Works to Expand and Modernize Border Crossing

Published: 2025-03-18 | Translated from: montsame.mn

Hovd aimag plans to implement projects to expand the Bulgan border crossing located in Bulgan soum and make the Baitag crossing operational in the coming years. To this end, a working group within the border crossing revival subcommittee has been appointed, and this group convened on the 17th of this month. The meeting discussed and approved the operating procedures for the border crossing revival subcommittee, as well as the plan for initiatives to be implemented in 2025, according to the Governor’s Office of Hovd aimag. It has been preliminarily planned to implement over 20 activities related to the revival of the border crossing this year. During the meeting, the suggestions provided by committee members were incorporated into future work plans, which will be discussed at the regular session of the aimag’s local assembly. In addition, efforts will be made to formulate a policy for the development of a unified transportation and logistics network within the border area of the aimag and the development of the border crossing. Infrastructure projects linking border crossings with strategic resource sites will be implemented, and the operations of border customs control organizations will be coordinated with local administrative organizations to ensure unified management. The Bulgan border crossing is an internationally rated major checkpoint significant to the livelihoods of Hovd aimag residents, primarily for freight turnover or the facilitation of exports and imports. In recent years, the load at this checkpoint is expected to increase. Therefore, there is a necessity to enhance the capacity of the crossing to further develop the region’s international transit transportation and tourism along the border, which is crucial for the region’s economic growth, officials have indicated. The issue of the border crossing expansion was addressed in the past year, and appropriate decisions were made. This work will proceed in stages moving forward.

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Khaltmaa Battulga's "Human" Kh. Erdenebaatar Appointed as First Deputy Director of the Development Bank

Published: 2025-03-18 | Translated from: isee.mn

The Board of Directors of the Development Bank convened and made several appointments. Specifically, Khaltmaa Erdenebaatar, a member of the National Policy Council of the Democratic Party, was appointed as the first deputy director of the bank, while J. Munkhjargal, a member of the Mongolian People's Party and a political and social researcher, was appointed as the manager responsible for productivity. In addition to them, several other appointments were also made. As for K. Erdenebaatar, he ran in the parliamentary elections in the Khuvsgul, Bulgan, and Orkhon regional districts and was defeated. He belongs to the faction of Kh. Battulga within the Democratic Party. On the other hand, J. Munkhjargal actively participates in the activities of the Mongolian People's Party and held a responsible position in the Secretariat of the State Great Khural (Parliament) when M. Enkhbold was serving as the Speaker of Parliament.

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Society

16 New Standards to be Implemented in Ulaanbaatar Starting October 1

Published: 2025-03-18 | Translated from: gogo.mn

In order to ensure the health, safety, and comfortable living conditions for citizens, urban standards are being revised and approved. Specifically, 38 standards were approved in 2022 and 14 standards in 2023. By 2025, a total of 16 standards have been approved by the City Council and will be implemented starting October 1 of this year. We sought clarification from E.Gerelt-Od, the Senior Specialist responsible for City Standards at the City Planning and Standards Department regarding this matter. He stated, "Entities operating within the capital's territory are obliged to adhere to the general development plan and urban standards, regardless of their form of ownership. Additionally, under the new regulations to be implemented from October 1, it has become possible for all institutions within the city's local government to ensure the implementation of urban standards." Urban standards are enforced through four stages: planning, execution, acceptance, and usage. For instance, during the planning stage, urban standards are integrated into tender documents, architectural planning tasks, and work plans, guiding construction activities accordingly. In the next phase, related departments will collaborate with the city's nine districts to gather information on landscaping and construction projects funded by the budget for that year. They will provide consulting and assistance on site, and supply construction companies' engineers and technical staff with methodologies on enforcing urban standards. Furthermore, training on urban standards is organized for local government organizations. Starting October 1, 2025, the following 16 new standards will be enforced in Ulaanbaatar: - General requirements for the health and safety of cemetery environments - Requirements for protecting sources of drinking water in the capital - General requirements for wildlife-friendly fencing in Ulaanbaatar's camp zones and special protected areas - Requirements for creating ponds and collecting and reusing rainwater - Requirements for exterior finishes of general education school buildings - Requirements for interior finishes of general education school buildings - Requirements for exterior finishes of preschool education institution buildings - Requirements for interior finishes of preschool education institution buildings - Standard designs for energy-efficient single-family homes - General requirements for the environment of children's camps - Guidelines for planning public mother and child rooms - Requirements for the insulation and exterior facades of residential buildings - Requirements for roofing work on residential buildings - General requirements for waiting rooms at public transport stops - General requirements for city road planning - Requirements for the maintenance of roads and road facilities.

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Report: Sudden Increase in Car Taxes Causes Burden on Citizens

Published: 2025-03-18 | Translated from: itoim.mn

In Ulaanbaatar, the official car tax has increased 2-3 times, and the road usage fee has increased 5 times. The main goal of this was explained as increasing the income of the municipality's road fund, improving the road network, and reducing traffic congestion. It was also considered necessary to increase the road usage fee because it was being paid at a much lower rate than the world average. Additionally, although the road repair budget had significantly increased, the revenue sources remained at the previous level, leading to the decision to increase taxes, as reported by city officials. To determine how this decision has impacted citizens, the National Transport Center was visited. Citizen O. Altansukh: I drive a Toyota Aqua. The car tax I used to pay has increased fivefold this year. The tax increase is just increasing the financial burden. Citizen G. Manduul: For my truck, I used to pay 93 thousand MNT in 2024, but this year I have to pay over 330 thousand MNT. Also, the tax for a Prius 30 model car was 73 thousand MNT last year, but now it has increased to 235 thousand MNT. This means the tax has increased three to four times. The sudden increase in taxes has not been clearly explained, nor has detailed information been provided on what the increased revenue will be used for. It seems necessary to clarify the basis for such a major change and whether it is a reasonable decision. Citizen A. Uurintuyaa: We drive a Land 200 model car. We paid 193 thousand MNT in tax in 2024, but it increased to 502 thousand MNT in 2025. Such a sudden increase in taxes is causing a great burden on citizens. This tax increase is explained as an effort to reduce traffic congestion, but in reality, congestion has not decreased; rather, it has worsened. Additionally, car registrations have become very expensive, with city numbers exceeding 1.5 million, negatively affecting car dealers and business owners. For car owners, paying taxes and participating legally in traffic has become increasingly difficult. People are trying to upgrade their cars but cannot keep their numbers, requiring them to transfer to rural residents, incurring additional costs. Increasing taxes under the guise of regulating traffic puts a negative impact on citizens' livelihoods, aggravating issues rather than solving them. Such decisions need to be adjusted to reflect the reality of citizens. Citizen S. Jamyaansuren: I drive a Corolla Fielder. I thought the annual tax had increased to 200 thousand MNT, but it has increased to 300 thousand MNT. I used to pay less than 100 thousand MNT, and now it has increased two or three times. Even getting a technical inspection has complications. Issues are raised out of nowhere, and if you don't give a bribe, they won’t pass you. Eventually, I had to slip 20 thousand MNT to barely get approval. I came in the morning, and still, I haven't been able to complete my tasks. All these pressures on citizens are just increasing. Queuing for days has become normal. It takes many days to accomplish one task, facing difficult conditions. Previously, everything could be done by phone, but now you have to personally come, stand in line, and run around. Do those managing all this understand how much they are frustrating their citizens? Bureaucracy, bribes, tax burden, wasted time—everything is getting harder. What's the point of tormenting the citizens like this? Instead of creating well-regulated and effective solutions, they are only making things more difficult. Problems Facing Citizens: The sudden increase in taxes has increased the financial burden on citizens. Paying official taxes and then an additional 300 thousand MNT car tax from a 1 million MNT salary and living on the remaining amount is impossible. From the citizens' perspective, the decision to increase taxes has caused a burden rather than reducing traffic congestion.

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BAYANKHONGOR: Specialists to be trained in South Korea

Published: 2025-03-18 | Translated from: montsame.mn

Keonnum University of the Republic of Korea and the Education Department of Bayankhongor province have signed a memorandum of understanding to cooperate in the field of education. The event was attended by the director of the university's department of international relations, the head of the student exchange program, the head of the Education Department of Bayankhongor province, senior specialists in teaching methodology, and the principal of Nomgon School. During the event, the parties discussed supporting students who are eager to learn Korean by conducting online classes and facilitating the enrollment of students from Bayankhongor province in Korean universities. Furthermore, the memorandum includes actions to support professional and technical education, early childhood and general education school teachers and students in their learning activities, creating a conducive environment, conducting short- and long-term research studies in the country, exchanging experiences, and educating students from low-income families with university scholarships. As part of this initiative, a Korean language classroom has been opened at Nomgon School where online lessons have already started, and 13 beginner-level students are scheduled to visit and learn about a Korean university. The university open day will be held at the end of April for interested children and youth from Bayankhongor province, with both parties agreeing to place orders to train specialists urgently needed in the province.

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The "Taste France" Event Allowed Mongolians to Experience the Taste of French Products

Published: 2025-03-18 | Translated from: ikon.mn

The Mongolia-France Chamber of Commerce and Industry, in cooperation with the "Business France" organization that supports French business, successfully organized the "Taste France" event for the first time in Mongolia yesterday. Representatives from French wine, bread, and pastry manufacturing companies attended the event to present samples of their products to Mongolian consumers. This event, which has significant importance in expanding trade and cooperation between Mongolia and France, was attended by notable wine producers: Bourgogne-PRESTIGE DES GRANDS VINS DE FRANCE, Bourgogne/Languedoc DELAUNAY VINS & DOMAINES, Rhône-Valley MARRENON, Languedoc-GUIBERT FAMILY, Languedoc-LES VINS DE ROQUEBRUN, Languedoc-LGIL, Languedoc-LES DOMAINES AURIOL, Languedoc-WINES OVERLAND, Multi-region-LES GRANDS CHÂTEAUX, Bordeaux-DUBOS, Bordeaux-THE WINE MERCHANTS. Spirits producers included A. DE FUSSIGNY COGNAC, CHÂTEAU DES PLASSONS - RASTIGNAC, FAMILLE CABANNE - COGNAC & SPIRITUEUX. Importer WORLDWINE also took part. Food, bread, and pastry manufacturing companies: BRIDOR S.A.S. and LESAFFRE also participated. Each year, Business France organizes the "Taste France" event in over 60 countries worldwide. This time, the event held in our country is part of the activities discussed and agreed upon during the State visits of the President of the Republic of France to Mongolia in May 2023 and the President of Mongolia to the Republic of France in October 2023, aimed at increasing social and economic relations between the two countries. Here are the statements from the event organizers and participants: For the first time, representatives from 14 French companies participated in the "Taste France" event organized in Mongolia. Bertrand Quevremont, representing the "Business France" organization in Hong Kong, stated, "It is essential for French manufacturers to personally come and see what business opportunities exist in Mongolia. In particular, we aimed to showcase that there are significant opportunities in the food sector. Today in Mongolia, the development of restaurants, hotels, coffee shops, bakeries, and supermarkets is accelerating. There is a chance for French manufacturers to offer high-quality products in this sector. Therefore, for the first time, 14 French companies are participating in the 'Taste France' event in Mongolia, presenting wines from ten different regions. Our goal is to present a variety of quality products to professional organizations operating in this field in Mongolia, meet with future customers interested in French products, discuss further opportunities, and provide a tasting experience. In addition, we are introducing two companies manufacturing bread, pastries, and food products. It is understood that Mongolians greatly enjoy bread and pastries." "There is a wide opportunity to develop animal husbandry and collaborate in this field." Augustin Ledez, Agricultural Attaché at the French Embassy in Mongolia, said, "Events in the food and agriculture sector continue to reflect the cooperation between France and Mongolia. In addition to this event, more than 10 companies visited Mongolia last October to present their products. There is a great opportunity to expand cooperation with Mongolia in agriculture and food fields. It would be appropriate to cooperate at technical levels as well, not just in trade. We must use our possibilities and time to make these opportunities a reality. For example, there is a broad opportunity to develop animal husbandry and collaborate in this field. There is a chance to strengthen trade and technical cooperation related to seed planting and cheese production." "There are many events to support the relations between Mongolia and France." Zolzaya Bull, Executive Director of the Mongolia-France Chamber of Commerce and Industry, said, "Professional companies and representatives of French wine and food manufacturers who have not visited Mongolia before are participating in this event to present their products. Previously, wine importers in our country used to go to France and Italy themselves. This year, the French have come to our country to present their products, which is remarkable. Fourteen French companies are participating, supported and partnered by the Mongolian wine and spirits market leader, Noyon Uul LLC. Two French companies are participating from the food sector as well. It is crucial for manufacturers to familiarize themselves with the market and meet with market professionals to expand business cooperation between Mongolia and France. We hope that this event will serve as a catalyst to support business cooperation. This year marks the 60th anniversary of diplomatic relations between Mongolia and France, which is why many events are being held to support relations between the two countries, including this event. We see that this marks the beginning of long-term cooperation between our chamber and the 'Business France' organization." Warning: Media organizations (TV, radio, social, and web pages) must credit the source (ikon.mn) when using our information fully or partially in any form.

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Published: 2025-03-18 | Translated from: montsame.mn

Orkhon: Developing a Human Resources Development Program in the Social Sector A "Population Groups and Social Sector Human Resources Development Program" is being developed with the aim of supporting the development of population groups and social sector human resources, and improving the quality of social services. This program, being devised as part of the implementation of the "Human Development" section of the Governor's 2024-2028 action plan, has two primary objectives: promoting the development of population groups and ensuring the development of human resources in the social sector. Within the framework of these two objectives, a total of 10 activities have been outlined, with 65 tasks planned for implementation for each indicator. The program will be in effect from 2025 to 2028. Once implemented, it is anticipated that the accessibility and quality of health, education, culture, sports, and labor social protection services will be improved, and the quality of life of population groups will be enhanced. Additionally, by training and capacitating social sector employees, it is expected that a highly productive human resource base will be formed, leading to improved quality, accessibility, and effectiveness of social services.

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D. Amarbayasgalan: Freedom of the Press Should Not Be Restricted

Published: 2025-03-18 | Translated from: isee.mn

A search was conducted by the police at the editorial office of the website Noorog.mn, and its employees were detained during the night. This incident took place today. In response to this, the Speaker of the Parliament, D. Amarbayasgalan, expressed his position. He stated, "Freedom of the press is one of the fundamental values of a democratic society. Therefore, we must steadfastly support press freedom. Whatever the reason behind today’s incident related to the website Noorog.mn, the public perceives and protests that it was an infringement on press freedom by the law enforcement agencies, which cannot be overlooked." Even though a certain type of crime is being investigated, it is important for the methods and processes to be human rights-friendly, and for the legally prescribed measures to be applied to be the most feasible ones. This is an important principle that organizations in this field must follow. The method of state work must be centered on protecting human rights, and we will demand this from all levels of government officials. The State Great Khural initiated such an attitude change by approving a new strategy with the main objective of "Law that is human-centered and respects human rights." The relevant standing committees and subcommittees of the State Great Khural will monitor and participate in this issue within the legal framework, and during this spring session, a legal environment fully protecting press freedom will be discussed.

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"Apartment for Rent" Scam Case Involves 58 Incidents Amounting to 21,430,000 MNT

Published: 2025-03-18 | Translated from: ikon.mn

A crime involving 58 incidents of fraud has been reported where fake advertisements for "apartment for rent" were used to deceive people, resulting in a total loss of 21,430,000 Mongolian Tugrik (MNT).

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"Taste France" event organized for the first time in Mongolia

Published: 2025-03-18 | Translated from: news.mn

The French-Mongolian Chamber of Commerce and Industry and the Joint Chamber of Commerce and Industry of Europe and Mongolia, in collaboration with the "Business France" organization, organized the "Taste France" event in Mongolia for the first time. French President Emmanuel Macron made a state visit to Mongolia in May 2023, and in October of the same year, Mongolian President U. Khurelsukh visited France. During these presidential visits, discussions were held to enhance social and economic relations between the two nations, leading to mutual agreements. The "Taste France" event is part of the efforts arising from these agreements. The "Business France" organization, which supports French businesses, organizes the "Taste France" event annually in more than 60 countries. This year's event is particularly noteworthy as it is being held in Mongolia for the first time. At this event, world-renowned wine and bakery producers presented the best selections to Mongolian consumers. Mongolia imports 50-60% of its wine from France. The "Taste France" event, aimed at introducing French wine and bakery products to consumers, was attended by over 100 representatives from the trade, restaurant, and hospitality sectors. The French-Mongolian Chamber of Commerce and Industry and the Joint Chamber of Commerce and Industry of Europe and Mongolia successfully organized this event with the support of France's "Business France" organization. The "Business France" organization, acting as a co-organizer of the event, is recognized for connecting French product suppliers with consumers in various countries worldwide. This event marks the initial step in a long-term partnership between these organizations, aiming to introduce wine and bakery products to Mongolian consumers, according to Bertrand Kevermont, the trade commissioner of France's "Business France" organization. In 2025, the 60th anniversary of diplomatic relations between Mongolia and France will be celebrated. In this context, the organizations plan to support numerous events aimed at promoting business relations between Mongolia and France.

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Selenge: On this day in 1921, the first victory of the People's Revolution was achieved by liberating the city of Khiagt from the Chinese army

Published: 2025-03-18 | Translated from: montsame.mn

Selenge: Sukhbaatar. On March 18, 1921, the city of Khiagt was liberated from the Chinese army, marking the first victory of the People's Revolution and laying the foundation for the establishment and development of the modern Armed Forces in Mongolia. On March 13, 1921, the Central Committee of the Mongolian People's Party, the General Headquarters of the Armed Forces, and the representative assembly of military units and border areas were convened, leading to the establishment of the "Provisional People's Government." Official notification of the establishment of the Provisional People's Government was made to the Khuree government, creating a historical period where two governments coexisted in Mongolia. The matter of liberating Khiagt was discussed at a joint meeting of the Central Committee of the Mongolian People's Party and the members of the Military Staff, held on March 6-7, 1921. Due to the significant difficulties posed by capturing a city occupied by a large and well-armed military, it was decided to explore negotiations with the Chinese military authorities. The task was mediated through O.I. Makstenek, a representative of the People's Commissariat of Foreign Affairs of Soviet Russia in Troitskosavsk. If negotiations failed, it was decided to conduct a military operation to capture the city. In accordance with this decision, a battle plan for capturing Khiagt was developed, and the disciplined troops were relocated from Altanbulag to places like "Khan's Valley," "Nomt," and "Bayan Uul." By creatively implementing the decisions of the meeting, on March 18, 1921, battles were fought against the Chinese troops, leading to a decisive victory for the People's Revolution. The initial establishment location of the Mongolian People's Party and the Provisional People's Government, where the victory of the People's Revolution was proclaimed, is Altanbulag soum in Selenge aimag.

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Environment

840 Hectares of Forest and 1.3 Million Hectares of Steppe Affected by Fire

Published: 2025-03-18 | Translated from: unuudur.mn

Last week, 80 emergency calls concerning dangerous incidents and accidents were recorded in the nine districts of the capital and 41 soums of 20 provinces. According to the calls, emergency service officers saved the lives of 17 citizens. Out of the total calls, 59 were related to domestic incidents and five were related to forest and steppe fires. There were also 16 calls regarding incidents related to strong winds, storms, heavy wet snow, and human activities. Since the beginning of this year, 18 forest and steppe fires have been recorded in 15 soums of five provinces. Specifically, fires have occurred in Khairhan of Arkhangai province; Khalkhgol, Kherlen, Bayanuul, Bulgan, Tsagaan-Ovoo, Dashbalbar, and Choibalsan in Dornod province; Sukhbaatar, Asgat, and Erdene-tsagaan in Sukhbaatar province; Bayan-Ovoo, Batshireet, and Dadal in Khentii province; and Undurshil in Dundgovi province. Preliminary estimates indicate that 840 hectares of forest and 1,385,830 hectares of steppe have been burned by the fire. Additionally, 39 gers, 15 houses, containers, six cars, 11 motorcycles, 75 animal pens, 27 winter shelters, 40 spring shelters, 6,937 sheep and goats, 569 cattle, 7,230 bales of hay, and 80 bags of feed have been affected. Since the spring fire season lasts until early June, the emergency services issue warnings to fully extinguish fires, matches, cigarette embers, campfires, and ashes when traveling through forests and steppes, and to refrain from openly burning grass and trash, lighting incense, candles, and leaving fires unattended during religious practices. At 05:14 yesterday, an earthquake with a magnitude of 3.5 occurred in the Bayangovi soum of Bayankhongor province. Furthermore, a fire broke out the day before yesterday in Kindergarten No. 111 in Songinohairkhan District of the capital. Preliminary reports indicate that the ger kindergarten located in the yard was burned.

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Initiation of Replacing the Main Raw Material for Briquette Fuel

Published: 2025-03-18 | Translated from: isee.mn

Tavantolgoi Fuel LLC has begun the process of replacing the main raw material for briquette fuel, enhancing quality, and developing a new standard. They are collaborating with scientists from the Institute of Chemistry and Chemical Technology under the Mongolian Academy of Sciences, the Council of Scientists under the National Committee for Air Pollution Reduction, and international research organizations. The first shipment of 15 wagons of enriched coal from the Erdenes Tavantolgoi JSC mine arrived today at the Tavantolgoi Fuel LLC's factory site. The remaining coal will be delivered according to schedule. Briquette fuel will be produced using the enriched coal from Erdenes Tavantolgoi JSC, and after conducting semi-industrial trials, it will be introduced into use based on conclusions, recommendations, and decisions from the Council of Scientists.

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Women Affected by Climate Change

Published: 2025-03-18 | Translated from: montsame.mn

The "Women's Leadership Program" discussion as part of Australia Week started yesterday. This year's Australia Week is organized under the theme "Sustainability and Green Development" to expand and promote cooperation between Australia and Mongolia. As part of this, there will be activities introducing various sectors, as well as cultural performances, business, and trade events from Australia. Australia is known for its significant investment in the education sector, and many educational initiatives are planned. During the "Women's Leadership Program" discussion, Minister of Environment and Green Development S. Odontuya mentioned, “In 2024, the Australian Government approved and implemented a project with a grant of 2.5 million Australian dollars to support women's leadership and enhance the capacity of Mongolian women to cope with climate change. Women and children are particularly affected by natural disasters such as climate change, dzuds, and floods. We prioritize women in this field. Recently, there have been advancements in gender equality, which are the results of political, economic, and social efforts. The government of Mongolia has recognized the importance of integrating gender equality into environmental and land management policies and ensuring the participation of women. During the World Women’s Forum held last August, the initiative to establish the 'Women Environmental Leaders Group' was launched to turn women's leadership into a reality. Next year, Mongolia will host the 17th session of the UN Convention to Combat Desertification (UNCCD). The Government of Mongolia, in cooperation with the Asian Development Bank, plans to organize an international conference on "Gender Equality and Climate Change" on May 22-23 this year, aiming to share international experiences in tackling climate change.” Meanwhile, L. Enkhtuvshin, the director of the Australian scholarship program, stated, “This discussion is aimed at understanding the role and adaptation of women in the context of environmental and climate change, empowering women, and ensuring their voices are heard at the decision-making level.” The Australian government’s scholarship program focuses on master's degrees, short-term programs, women's leadership, and activities for alumni.

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Health

Measles Outbreak Surges, 51 Children Infected

Published: 2025-03-18 | Translated from: unuudur.mn

The prevalence of the acute infectious disease measles sharply increased over the past weekend, with 51 children reported as infected and 11 suspected cases as of yesterday. Initial cases were reported in the capital, but the spread of the infection has now extended to the provinces. Specifically, the disease has been registered in Dundgovi and Umnugovi provinces. The outbreak within schools and kindergartens has led to a rapid increase in the number of sick children. The National Center for Communicable Diseases has dispatched rapid response teams to the affected provinces and to children's hospitals, schools, and kindergartens to conduct surveillance, research, and immunization. Parents and guardians are advised to act responsibly regarding their children's health and ensure they participate fully in scheduled measles immunizations. If a child experiences a fever, rash, or has been in close contact with a person infected with measles, it is recommended to contact the Infectious Disease Emergency Department of the National Center for Communicable Diseases or the local Health Center. In response to the measles registrations, the governors of Dundgovi and Umnugovi provinces have issued orders to transition school and kindergarten operations to online formats. However, this decision has been deemed illegal by the Minister of Education P. Naranbayar. He stated, "Without prior proposal to the state administration central organization responsible for education issues, limiting school and educational activities and transitioning to non-classroom formats violates applicable laws and regulations." According to Article 5.5 of the Law on Pre-School and General Education, "The organization responsible for educational issues of the state administration may adjust the start, duration, and end of the academic year of kindergartens and general education schools, based on the proposal of the governor and the specifics of local climate, weather, production, and services" is stated. In other words, the transition to online education should have been based on the proposal of local governors and executed by the Minister of Education. Governor S. Munkhchuluun of Dundgovi province explained, "The Health Department assessed the situation as serious, and after the Extraordinary Commission met and made a decision, the governor issued the order. We did not stop lessons; we transitioned them online. We prioritize the health of our children." The leadership of Umnugovi province has not issued any statement.

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55 Cases of Measles Confirmed

Published: 2025-03-18 | Translated from: news.mn

The National Center for Communicable Diseases (NCCD) has provided an update on the current status of the measles outbreak. A total of 55 cases of measles have been confirmed in the laboratory. A professional team, led by the Director General of NCCD, E. Ankhbayar, is working in the region following the local registration of these cases. Additionally, the NCCD is in communication via online platforms with the provinces of Bulgan, Dornogovi, and Tuv, where suspected cases have been reported, providing guidance and recommendations. Since both confirmed and suspected cases have been registered in children's organizations, the leaders, teachers, and doctors of these institutions are urged to pay special attention to attendance and symptom screening to detect measles early. Parents and guardians are also reminded to responsibly monitor their children's health and ensure they are fully vaccinated according to the measles vaccination schedule. If children have not received the two doses of the measles vaccine as scheduled, it is advised that parents contact their local or district health centers to arrange for catch-up vaccination against measles.

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Today's Stories

Politics

Economy

Diplomacy

Infrastructure

Society

Environment

Health

Politics

Mongolia's Decline in the Democracy Index

Standing Committees of Parliament to Meet

Spring Session Concludes Without Budget Adjustment

Donald Trump Issues Order to Shut Down "Voice of America"

Putin Agreed to Several Conditions of Negotiations

The Spring Session of the State Great Khural Commenced with 58.7% Attendance of Members

Indictment Issued for Attempted Bribery of Judge and Judge's Assistant

The Supreme Court's Decision Must Be Enforced; If Not Implemented by Parliament, the Issue of D.Tsogtbaatar Will Be Brought to the Constitutional Court

Police Detain 'Noorog' Media Staff and Release After Interrogation

Economy

Mongolia and South Korea to Open Markets and Engage in Free Trade

China's Steel Production May Shake Mongolia's Economy

The Budget Deficit Emerges Due to Budgetary Amendments

Preliminary Balance of Payments Deficit of 680.7 Million USD in January This Year

NSO: The budget deficit reached 565.8 billion MNT in the first two months of this year

"A Dual Deficit of Budget and Balance of Payments Is Emerging as a Risk"

The Fiscal Balance Showed a Deficit of 565.8 Billion Tugriks

KhasBank JSC's Audited Financial Statements for 2024

The total credit debt balance reached 37.8 trillion MNT in the first two months of 2025, growing by 38% compared to the same period last year

Budget Deficit Reaches 565.8 Billion MNT

The Average Monthly Salary of Employees in Budgetary Organizations is 2.7 Million MNT

Smartphone imports increase by $10.8 million

The term of Mongolbank's president B. Lhagvasuren reportedly ends this November

Prices of Consumer Goods and Services Increase by 4.8-18.4% in Provinces

Car Loan Fee Reduced to 0₮

Notice of Shareholders' Meeting

Seven Mongolian Enterprises Participate in "Foodex Japan 2025" Exhibition

NSO: 50% of Social Insurance Payers Earn Less Than 2.2 Million MNT

The General Authority for Social Insurance Requests Support from Commercial Banks

Diplomacy

Ambassador Richard Buangan Visited Khovd Province

Chairman of the State Great Khural D. Amarbayasgalan Departs for an Official Visit to the United Kingdom

State Secretary L. Munkhtushig Participates in "Raisina Dialogue"

More than 30 countries express readiness to send peacekeepers to Ukraine

Infrastructure

Hovd: Works to Expand and Modernize Border Crossing

Khaltmaa Battulga's "Human" Kh. Erdenebaatar Appointed as First Deputy Director of the Development Bank

Society

16 New Standards to be Implemented in Ulaanbaatar Starting October 1

Report: Sudden Increase in Car Taxes Causes Burden on Citizens

BAYANKHONGOR: Specialists to be trained in South Korea

The "Taste France" Event Allowed Mongolians to Experience the Taste of French Products

Orkhon: Developing a Human Resources Development Program in the Social Sector

D. Amarbayasgalan: Freedom of the Press Should Not Be Restricted

"Apartment for Rent" Scam Case Involves 58 Incidents Amounting to 21,430,000 MNT

"Taste France" event organized for the first time in Mongolia

Selenge: On this day in 1921, the first victory of the People's Revolution was achieved by liberating the city of Khiagt from the Chinese army

Environment

840 Hectares of Forest and 1.3 Million Hectares of Steppe Affected by Fire

Initiation of Replacing the Main Raw Material for Briquette Fuel

Women Affected by Climate Change

Health

Measles Outbreak Surges, 51 Children Infected

55 Cases of Measles Confirmed

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