Oct 24, 2024 69 min read Daily News Summaries

Mongolia News Summary for October 24, 2024

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

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Politics

Decisions from the Government Meeting

Published: 2024-10-23 | Translated from: itoim.mn

The regular government meeting discussed and decided on several key issues. A draft law on amendments to the Law on Nuclear Energy and other related laws was considered, and it was decided to submit it to the Parliament (State Great Khural) for urgent discussion in accordance with section 33.1 of the Law on the Rules of the Parliamentary Session. Mongolia has joined several international agreements and conventions, including the Treaty on the Non-Proliferation of Nuclear Weapons, the Agreement on Safeguards in connection with the Non-Proliferation Treaty, the Convention on Physical Protection of Nuclear Material, the Convention on Early Notification of a Nuclear Accident, and the Convention on the Suppression of Acts of Nuclear Terrorism. Mongolia has successfully fulfilled its obligations under these international treaties. The Law on Nuclear Energy, approved by the Parliament in 2009, contains 8 chapters and 51 articles, and has undergone 15 amendments that have changed 8 chapters and 38 sections or provisions. Due to significant changes in Mongolia's Constitution, as well as in the country's social, economic, and legal relations, there is a natural need to make corresponding amendments to these laws and regulations. In connection with the draft law on nuclear energy, amendments to the General Tax Law, the Law on Investment, and the Company Law have been developed. The Prime Minister issued an order to accelerate economic growth within the framework of implementing the projects and measures included in the "New Revival Policy" and the Government's operational program for 2024-2028. Government members, provincial and city mayors were tasked with developing strategies and plans aimed at: 1) digitalization, artificial intelligence, and technological transition; 2) green transition; and 3) human resource transition, within the scope of their respective sectors and regions. The Minister of Mongolia and Chief of the Cabinet Secretariat U.Chral was instructed to call on all government organizations to contribute to economic growth and to consolidate strategies and plans nationwide, to be presented in the government meeting during the first week of January 2025. Inadequate implementation of the order will result in appropriate legal accountability for responsible government members and officials. The Minister of Mongolia and Chair of the National Committee on Monitoring and Evaluation, E.Odbayar, was tasked with overseeing the implementation of the order. A working group composed of leaders from relevant ministries and agencies was reorganized and led by the Deputy Prime Minister and Minister of Economy and Development, L.Gantumur, to implement the Erdene-Ongi and Kherlen-Toono water projects included in the 14 mega projects in the government's operational program.

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Decisions Made at the Government Meeting

Published: 2024-10-23 | Translated from: itoim.mn

The regular meeting of the government was held, where the following issues were discussed and decided upon. A bill amending the Law on Nuclear Energy will be submitted to the Parliament. The bill to amend the Law on Nuclear Energy and other related draft laws were discussed, and it was decided to submit them to the Parliament for urgent discussion as per Article 33.1 of the Law on the Order of Parliamentary Sessions of Mongolia. Since 1972, Mongolia has joined numerous international treaties and conventions related to the non-proliferation of nuclear weapons, such as the Treaty on the Non-Proliferation of Nuclear Weapons, treaties on safeguards related to the non-proliferation treaty, the Convention on the Physical Protection of Nuclear Material, the Convention on Early Notification of a Nuclear Accident, and the Convention on the Suppression of Acts of Nuclear Terrorism. Mongolia has successfully fulfilled its obligations under these international agreements. The Law on Nuclear Energy, adopted by the Parliament in 2009, consists of 8 chapters and 51 articles, which have been amended 15 times, resulting in changes to 8 chapters and 38 sections and provisions. Considering the amendments to the Constitution of Mongolia, significant changes in Mongolia's social, economic, and legal relations have necessitated the introduction of corresponding amendments to these laws. In connection with the bill, drafts amending the General Law on Taxation, the Law on Investment, and the Law on Companies have been developed. Economic growth will be accelerated through digitalization, green development, and human resource transition. In the context of implementing the projects and measures outlined in the "New Revival Policy" and the government's action plan for 2024-2028, the Prime Minister of Mongolia issued an official directive to accelerate economic growth. Government members, provincial, and city governors were tasked with developing strategies and plans for, firstly, digitalization, artificial intelligence, technological transition, secondly, green transition, and thirdly, human resource transition within their respective sectors and regions. All state organizations are urged to contribute to accelerating economic growth, consolidate strategies and plans at the sectoral and national level, and present them at the government meeting in the first week of January 2025. Ministers and relevant officials who fail to fulfill or improperly implement the official directive will be held accountable in accordance with the law by the Minister of Mongolia and the Cabinet Secretariat Head, N. Uchral, who is responsible for overseeing the implementation of the directive. The Minister of Mongolia and the Head of the National Committee on Monitoring and Evaluation, E. Odbayar, are tasked with monitoring the implementation. Brief News A working group consisting of leaders from relevant ministries and agencies has been established, led by the First Deputy Prime Minister and Minister of Economy and Development, L. Gantumur, to oversee the implementation of the Orkhon-Ongee and Kherlen-Toono water projects included in the 14 mega projects specified in the government's action plan.

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Decisions from the Government Meeting

Published: 2024-10-23 | Translated from: itoim.mn

The regular government meeting was held during which the following issues were discussed and resolved. A draft law to amend the Nuclear Energy Law will be submitted to the State Great Khural. The draft law on amending the Nuclear Energy Law and related other laws were discussed and it was decided to urgently submit them to the State Great Khural (Parliament) in accordance with Article 33.1 of the Law on the Procedure of the Sessions of the State Great Khural. Since 1972, Mongolia has joined numerous international treaties and conventions such as the Treaty on the Non-Proliferation of Nuclear Weapons, the Agreement on the Application of Safeguards related to the Treaty on the Non-Proliferation of Nuclear Weapons, the Convention on the Physical Protection of Nuclear Material, the Convention on Early Notification of a Nuclear Accident, and the Convention on the Suppression of Acts of Nuclear Terrorism. Mongolia has successfully fulfilled the obligations set forth by these international agreements. The Nuclear Energy Law, approved by the State Great Khural in 2009, consists of 8 chapters and 51 articles. It has been amended 15 times, resulting in changes to 8 chapters, 38 articles, and provisions. Considering the amendments and changes to the Constitution, as well as significant changes in Mongolia's social, economic, and legal relations, it is logical to introduce corresponding changes in these legislative acts. In connection with the draft law, other draft laws such as amendments to the General Tax Law, the Law on Investment, and the Company Law were developed. Accelerating economic growth through digitization, green development, and human resource transition. In the framework of implementing projects and measures reflected in the "New Revival Policy" and the Government's 2024-2028 Action Program, the Prime Minister of Mongolia issued an official instruction to accelerate economic growth. Government members, governors of aimags and the capital city, in relation to their respective jurisdictions, were tasked with developing strategies and plans for three directions: firstly, digitization, artificial intelligence, and technological transition; secondly, green transition; thirdly, human resource transition. Within this framework, it was urged for all government institutions to contribute to accelerating economic growth, and to consolidate the strategies and plans at the sectoral and national levels to be presented at the cabinet meeting in the first week of January 2025. The Chief Cabinet Secretary, N. Uchral, was tasked with holding accountable government members and relevant officials who fail to fulfill or inadequately implement the official instructions within the scope of applicable laws. Furthermore, the Minister of Mongolia and Chairman of the National Council for Monitoring and Evaluation, E. Odbayar, were assigned to monitor the implementation of these instructions. Brief News. An operational team composed of heads from relevant ministries and agencies was reorganized under the leadership of the First Deputy Prime Minister and Minister of Economy and Development, L. Gantomor, to implement the Orkhon-Onngi and Kherlen-Toono water projects included in the 14 mega projects outlined in the Government's Action Program.

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Members, ministers, and leaders allegedly purchased airplane tickets with five billion MNT from the budget

Published: 2024-10-23 | Translated from: unuudur.mn

B. Tsogtgerel, the head of the non-government organization "Shilen Dans," criticized the expenditure of budget funds. He pointed out that while the budget for the upcoming year is being discussed, some members are on foreign assignments and not attending meetings or performing their duties. B. Tsogtgerel stated, "From the State Treasury, a total of 243 million MNT was transferred in five transactions to the account of 'Terelj Suikh' LLC, owned by the Minister of Culture, Sports, Tourism, and Youth, Ch. Nomin. Of this, 50 million MNT was recently transferred with the transaction note stating '2025 budget discussion.' The State Palace is there for budget discussions, not to go to Terelj and eat and drink in a five-star hotel with public money. Those who went to Terelj under the guise of a budget discussion should return the money. Otherwise, we will appeal to the legal authority. Also, just for the first ten months of this year, five billion MNT has been used from the State Treasury by members, ministers, and leaders for buying tickets. Minister Ch. Nomin again leads as the person who bought the most tickets and traveled abroad. She bought tickets for 344 million MNT from the budget this year. This will be thoroughly investigated," he concluded.

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Decisions from the Government Meeting

Published: 2024-10-23 | Translated from: itoim.mn

The regular government meeting discussed and resolved the following issues. The draft law on amendments and additions to the Law on Nuclear Energy will be submitted to the State Great Khural. The draft law on amendments and additions to the Law on Nuclear Energy, along with other related law drafts, was discussed and decided to be urgently submitted to the State Great Khural for discussion in accordance with section 33.1 of the Law on the Procedures of Sessions of the State Great Khural. Since 1972, Mongolia has joined many international treaties and conventions, such as the Treaty on the Non-Proliferation of Nuclear Weapons, the Agreement on the Application of Safeguards in connection with the Treaty on the Non-Proliferation of Nuclear Weapons, the Convention on Physical Protection of Nuclear Material, the Convention on Early Notification of a Nuclear Accident, and the Convention on the Suppression of Acts of Nuclear Terrorism, and has successfully fulfilled its obligations under these international agreements. The Law on Nuclear Energy approved by the State Great Khural in 2009 consists of 8 chapters and 51 articles, with amendments and additions made 15 times, affecting 38 sections and clauses of the 8 chapters. Considering the amendments and changes made to the Constitution of Mongolia during its implementation, as well as major changes in Mongolia's social, economic, and legal relationships, there is a necessary requirement to make corresponding changes in these legislations. In connection with the draft law, the draft amendments to the General Tax Law, the Law on Investment, and the Company Law have been developed. Accelerating economic growth through digitalization, green development, and human resource transition. As part of implementing projects and measures included in the "New Recovery Policy" and the Government's action program for 2024-2028, the Prime Minister of Mongolia issued official instructions to accelerate economic growth. Government members, governors of provinces and the capital city were instructed to develop strategies and plans for 1) digitalization, artificial intelligence, and technological transition, 2) green transition, and 3) human resource transition within their respective sectors and regions. All government bodies are urged to contribute to accelerating economic growth and to consolidate strategies and plans at the sector and national levels to be presented at the government meeting in the first week of January 2025. Minister of Mongolia and Chief of the Cabinet Secretariat N. Uchral is tasked with ensuring that sanctions are imposed on government members and relevant officials who fail to implement or inadequately implement the official instructions, abiding by legislation. Minister of Mongolia and National Committee Chairman for Control and Evaluation E. Odbayar is mandated to monitor the implementation of the instructions. Brief News. An inter-agency working group composed of leaders from relevant ministries and agencies was reorganized under the leadership of First Deputy Prime Minister and Minister for Economic Development L. Gantumur to carry out the Orkhon-Onngi and Kherlen-Toonoo water projects, which are among the 14 mega projects included in the Government's action program.

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Decisions from the Government Meeting

Published: 2024-10-23 | Translated from: itoim.mn

The regular meeting of the Government was held, where the following issues were discussed and resolved: A draft law to make additions and amendments to the Law on Nuclear Energy will be submitted to the State Great Khural (Parliament). After discussing the draft law on amendments and additions to the Law on Nuclear Energy and other relevant draft laws, it was decided to urgently submit them to the State Great Khural in accordance with Article 33.1 of the Law on the Procedure for the Sessions of the State Great Khural. Since 1972, Mongolia has joined various international treaties and conventions such as the Treaty on the Non-Proliferation of Nuclear Weapons, the Agreement on the Application of Safeguards in connection with the Treaty on the Non-Proliferation of Nuclear Weapons, the Convention on the Physical Protection of Nuclear Material, the Convention on Early Notification of a Nuclear Accident, and the Convention on the Suppression of Acts of Nuclear Terrorism, and has successfully fulfilled its obligations under these international treaties. The Nuclear Energy Law adopted by the State Great Khural in 2009 consists of 8 chapters and 51 articles, and has been amended 15 times, resulting in changes to sections and provisions of 8 chapters and 38 articles. Considering the amendments and changes made to the Constitution of Mongolia, as well as significant changes in Mongolia's social, economic, and legal relations during the implementation period of the law, it became necessary to make relevant updates to these legal acts. In connection with the draft law, amendments and additions to the General Taxation Law, the draft law on amendments to the Investment Law, and the draft law on amendments to the Company Law have been developed. Economic growth will be intensified through digitalization, green development, and human resource transformations. To implement the projects and measures outlined in the "New Revival Policy" and the Government's 2024-2028 action program, the Prime Minister of Mongolia issued an official directive to intensify economic growth. Within the scope of their responsibilities, government ministers and the governors of aimags and the capital city were tasked with developing strategies and plans for, firstly, digitalization, artificial intelligence, and technology transition; secondly, green transition; and thirdly, human resource transformation. In this regard, all state organizations were called to contribute to intensifying economic growth, to consolidate strategies and plans across sectors and at the national level, and to present them at the Government meeting in the first week of January 2025. The Minister of Mongolia and Chief of the Cabinet Secretariat, N. Uchral, was instructed to impose the appropriate legal obligations on government members and officials who do not fulfill their duties or implement them inadequately, while the Minister of Mongolia and Chairman of the National Control and Evaluation Committee, E. Odbayar, was tasked with overseeing the implementation of the directive. Brief News An operational team composed of the heads of relevant ministries and agencies, led by the Deputy Prime Minister and Minister of Economy and Development, L. Gantomor, was reorganized to implement the Orkhon-Onngi and Kherlen-Toono water projects included in the 14 mega projects of the Government's action program.

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The Regular Government Meeting is Taking Place

Published: 2024-10-23 | Translated from: montsame.mn

The regular government meeting is currently ongoing from 08:00 AM. The Minister of Energy, B. Choijilsuren, mentioned two weeks ago during a session at the 11-11 center that the Energy Regulatory Commission independently decides on price tariff increases. However, the Ministry of Energy is conducting the relevant research regarding price tariff increases and plans to present it to the government and the National Energy Commission soon. In today's government meeting, they are reviewing the introduction regarding energy reform first. Additionally, they are discussing the project about determining the reserve amount for the oil product company. Other issues being discussed include regulations on assessing the health status of citizens fit for military service, assessing the health condition of military personnel, the 14 mega projects included in the government operation program, and projects like Orkhon-Ongi and Kherlen-Toono water projects, among a total of 27 issues.

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Economy

No Environment for Investment in Mongolia!!!

Published: 2024-10-23 | Translated from: news.mn

Mongolia has been discussing foreign investment and major projects for years, but the conversations have become monotonous. Aside from the Oyu Tolgoi project established in 2009, there are few significant international projects in the country. Annual conferences and meetings aimed at attracting investors have become less impactful, often without tangible results. Recently, Mongolia revised its legal environment for investment in hopes of avoiding past mistakes, ensuring stability, and creating mutually beneficial partnerships. However, the indefinite postponement of the Investment Law discussion in the State Great Khural has diminished promising discussions around investments. The annual "Mongolian Economic Forum," held after the parliamentary elections this year, featured Prime Minister L. Oyun-Erdene announcing notable economic growth. The Gross Domestic Product (GDP) rose to 68.9 trillion MNT in 2023, compared to 53.8 trillion MNT in 2022. GDP per capita reached 5,875 USD, and foreign exchange reserves exceeded 5 billion USD. The government aims to maintain economic growth at 6-7% annually, reduce bureaucracy, and enhance the investment environment. Conference participants expressed hopes for real changes in attracting investment and diversifying the economy, highlighting the need for a policy that safeguards investor trust, ensures flexible terms, and provides long-term stability. The coalition government, "Braving Rapid Development," led by Prime Minister L. Oyun-Erdene, recently revised the 2024 budget from 27 trillion to 30 trillion MNT to address development challenges and initiate infrastructure, energy, and industrial projects. This budget adjustment aims to lay the groundwork for a new 30-year development plan. Additionally, the government plans to accelerate the implementation of 14 mega projects and 149 sustainable development projects set for 2025, establishing an infrastructure foundation for sustainable economic growth. It’s crucial to implement long-discussed projects, but it is clear that state funds alone cannot achieve this. The foundation for attracting foreign and local investors is currently lacking in Mongolia. Central Bank Governor B. Lkhagvasuren, criticized for not facilitating foreign banks' entry, noted that no foreign bank has come despite invitations. The reality is that without a proper legal environment, investors are reluctant to risk their funds. Given the current fiscal policies, diminishing foreign exchange reserves, and a weakening MNT, it is vital to ask where the legal frameworks and conditions for attracting investment are. Discussing investments without revising the Investment Law is futile. The top priority for this session of parliament should be to revise the legal framework concerning investment. Historically, legislative proposals related to investment have faced public opposition and failed politically. Mongolians often show resistance to foreign investments, raising concerns about potential exploitation of local resources when discussing thresholds for foreign investment. This is why educating the public on the importance of foreign and local investments is essential. Only when the significance of investment is universally recognized can mega projects succeed in Mongolia. The conversation about attracting foreign investment can become monotonous if over-discussed, but it also remains a mere symbol if not discussed enough. Development follows action, not just dialogue.

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Digitization, Green Development, and Human Resource Transition to Boost the Economy

Published: 2024-10-23 | Translated from: news.mn

The regular meeting of the government was held on October 23, 2024, where the following issues were discussed and decided. A law draft to amend the Law on Nuclear Energy will be submitted to the Parliament. After discussing the draft law to amend the Law on Nuclear Energy, it was decided to urgently submit it to the Parliament for discussion according to section 33.1 of the law on the procedures of the Mongolian Parliament sessions. Since 1972, Mongolia has been successful in fulfilling its obligations under international treaties such as the Treaty on the Non-Proliferation of Nuclear Weapons, agreements related to safeguards connected with the nuclear non-proliferation treaty, the Convention on the Physical Protection of Nuclear Material, the Convention on Early Notification of a Nuclear Accident, and the Convention on the Suppression of Acts of Nuclear Terrorism. In 2009, the law on nuclear energy adopted by the Parliament comprised 8 chapters and 51 articles, but it has been amended 15 times to make changes to 38 articles and sections across 8 chapters. In light of the amendments and changes made to the Constitution of Mongolia, as well as major changes in Mongolia's social, economic, and legal relations during the implementation of the law, there is a justified need to introduce relevant amendments to these legal acts. Along with the draft law on nuclear energy, draft laws to amend the General Tax Law, the Investment Law, and the Company Law have been developed. Digitization, green development, and human resource transition will accelerate economic growth. To accelerate economic growth as part of implementing the projects and measures included in the "New Revival Policy" and the government's 2024-2028 action program, the Prime Minister of Mongolia has issued an official directive. The directive requires government members and city and county governors to develop strategies and plans within their respective sectors and regions in three main areas: firstly, digitization, artificial intelligence, and technological transition; secondly, green transition; and thirdly, human resource transition. All government agencies are urged to contribute to economic growth acceleration, and strategies and plans need to be consolidated at the sectoral and national levels and presented to the government meeting by the first week of January 2025. The Minister of Mongolia and Head of the Cabinet Secretariat, N. Uchral, is tasked with assessing implementation, and Minister E. Odbayar, Head of the National Committee for Control and Evaluation, is responsible for monitoring implementation and ensuring accountability for insufficient execution. Brief news A task force composed of heads of relevant ministries and agencies has been reorganized, led by Deputy Prime Minister and Minister of Economy and Development L. Gantumur, to implement the Orkhon-Ongi and Kherlen-Toono water projects, which are among the 14 mega projects included in the government's action program.

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83 million tons of coal and 1.8 million tons of copper concentrate are planned for export next year

Published: 2024-10-23 | Translated from: montsame.mn

The Minister of Finance, J. B. Javkhlan, stated during his participation in the meeting of the Standing Committee on Economics of the State Great Khural that "next year's budget is noteworthy for being the first time to fully support regional development." In his presentation of next year's budget proposal, he said, "Previously, investments were considered and planned by provinces and districts, but now they are directed towards regions to reduce the concentration in Ulaanbaatar city, improve the business environment in regions, and focus on major infrastructure projects to attract investment. As a result, by 2028, the hard-paved roads of Mongolia will increase by 4,440 km, while 1,650.9 MW of new electrical energy sources will be created in the power sector, and 1,519 km of electricity transmission lines will be put into operation. Besides these constructions, projects related to social sectors will continue, with the implementation of 93 schools, 67 kindergartens, 37 hospitals, 22 dormitories, 60 projects in the field of culture and sports, and 17 social protection projects. Secondly, the unique feature is supporting the participation of the private sector through tax policy. It has been considered that regional development cannot be achieved solely through investment, so different tax policies have been included to be implemented. In this context, more than 20 types of taxes will be set differently depending on the regional characteristics, increasing the independence of local budgets, enabling regions to independently attract investments, and compete with economic policy. Additionally, the policy will focus on activating the participation of private sector entities in major constructions that are in line with regional development objectives. Thirdly, the unique feature is solving the pressing issues of the capital city. Although a total of 11.5 trillion MNT of investment has been made in the capital city over the past 30 years, over the next four years, a total of more than 30 trillion MNT of investment is planned. In order to address the pressing issues of congestion and environmental pollution in the capital city, 4.5 trillion MNT of investment has been included in the capital city for the first time in the 2025 budget. This aims to reduce concentration, establish conditions for providing basic social services within 20 minutes, and significantly reduce traffic congestion. In this context, mega projects such as the "Khushig Valley Tunnel," "Aspiring Mongolia" cable bridge structure will be implemented with government debt guarantees, the government service complex with state budget investment, the "Metro" mass public transport project, Tuul highway, New major ring road highway, and the New ring road auto project with capital sources and public-private partnerships. As a result of these measures, air pollution is expected to decrease by approximately 22%, public transport accessibility will increase, and the issue of congestion will be resolved. Additionally, with the establishment of infrastructure for the construction of 37,000 residential apartments, jobs will increase, and the business environment of the private sector will improve. By implementing the aforementioned policies included in the draft of Mongolia's 2025 budget law, it is estimated that next year, 83 million tons of coal and 1.8 million tons of copper concentrate will be exported, with the total turnover of foreign trade reaching 32.8 billion USD, economic growth reaching 8.0%, and the total revenue of the consolidated budget reaching 36.8 trillion MNT," he noted. After that, the opinions and conclusions of the Standing Committee on Economics regarding the second discussion of next year's budget proposals were decided to be submitted to the Standing Committee on Budget.

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Accelerate Economic Growth through Digitalization, Green Development, and Human Resource Transition

Published: 2024-10-23 | Translated from: unuudur.mn

Within the framework of implementing the "New Recovery Policy" and the Government's action plan for 2024-2028, the Prime Minister of Mongolia issued an official directive aimed at accelerating economic growth. He assigned the members of the Government and the governors of provinces and the capital city with developing strategies and plans in areas under their purview, specifically prioritizing digitalization, artificial intelligence, technological transition, green transition, and human resources transition. All state organizations are encouraged to contribute to enhancing economic growth through this initiative. The strategies and plans are to be integrated at the sectoral and national levels, and presented at the Cabinet meeting during the first week of January 2025. Measures are to be taken under relevant legislation against government members and related officials who fail to fulfill or inadequately implement the directive. The Minister of Mongolia and the Chief of the Cabinet Secretariat, N. Uchral, are tasked with overseeing the implementation of the directive, while the Minister of Mongolia and the Chair of the National Council for Oversight and Evaluation, E. Odbayar, will be tasked with monitoring its execution.

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Chinese EV Manufacturers Boost Exports to EU Ahead of New Tariffs

Published: 2024-10-23 | Translated from: gogo.mn

Chinese EV manufacturers are increasing their exports to the EU ahead of new tariffs. China delivered 60,000 electric vehicles to 27 EU countries in September. The European Union is set to implement additional tariff measures on cars manufactured in China soon. As a result, there has been a significant increase in the export of electric vehicles from China to EU countries. In September, China supplied 60,000 electric vehicles to 27 EU countries, which is a 61% increase compared to the same period last year. This figure is also close to the peak level of exporting 67,000 cars in October 2023. On October 4, EU member states voted on whether to increase customs duties on Chinese electric vehicles by up to 35%. This decision was endorsed by 10 countries, including France, Italy, and Poland, and has become legally binding. While attempting to reach an alternative solution to avoid the tariff, China is in negotiations with the EU, although the new tariff is expected to take effect by the end of October. In addition, Chinese companies like BYD and Xpeng have announced their plans to expand production in Hungary and Turkey. Furthermore, Geely's luxury EV brand Zeekr has disclosed plans to move its production to Europe.

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Accelerating Economic Growth through Digitalization, Green Development, and Human Resource Transition

Published: 2024-10-23 | Translated from: montsame.mn

In order to accelerate economic growth within the framework of the "New Revival Policy" and the government's 2024-2028 action program, the Prime Minister issued an official directive. Government members, provincial, and city governors are tasked with developing strategies and plans for: 1. Digitalization, artificial intelligence, and technology transition.
2. Green transition.
3. Human resource transition within the sectors and regions relevant to their responsibilities.
All state institutions are urged to contribute to accelerating economic growth, consolidating strategies and plans on a sectoral and national level, and presenting them at the government meeting in the first week of January 2025. Members of the government and related officials who fail to fulfill or inadequately implement the official directive are to be held accountable according to legal regulations, as tasked to the Minister of Mongolia and Head of the Cabinet Secretariat, Mr. Uchral. Monitoring the implementation of the official directive was assigned to the Minister of Mongolia and Chairman of the National Council for Monitoring and Evaluation, Mr. Odbayar, according to the Cabinet Secretariat of the Government of Mongolia.

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J. Delgersaikhan: Rumors of electricity price increase have begun affecting the market and raising prices of consumer goods

Published: 2024-10-23 | Translated from: isee.mn

Starting from the 1st of next month, electricity prices will increase. Deputy Prime Minister T. Dorjkhand stated that calculations are being made on the percentage increase. As a result, the government is discussing energy reform at today's meeting. We asked economist J. Delgersaikhan about the potential economic risks of increasing electricity prices. He said, "Rumors about increasing electricity prices have already started affecting the market, raising the prices of consumer goods. Since the energy sector is operating at a loss, a slight increase in electricity prices can be justified. However, it's crucial to concurrently improve the management efficiency and system of this sector. Additionally, we need to increase real income and job opportunities for the people. Without these measures, increasing electricity prices will be futile." THE GOVERNMENT SHOULD CONTROL ENERGY PRICES EVEN IF THEY ARE OPERATING AT A LOSS Other countries control their energy prices through policy even when operating at a loss. When electricity and fuel prices increase, the prices of consumer goods follow suit according to market laws. Therefore, despite the losses, the government has the responsibility to maintain balanced electricity and fuel prices. For example, from 2012-2014, when the Democratic Party led the government, they entered into agreements to stabilize fuel prices. However, the current government is planning to hand over the energy sector to the private sector under the name of liberalization, intending to increase electricity prices and exert economic pressure on citizens. The Western countries we admire have not fully liberalized their electricity prices. For instance, in the US and Canada, electricity prices are regulated at the state or provincial level, and each state or province sets its own rules and pricing structure. In Germany, although the energy sector is liberalized, the government retains regulatory power over setting prices, especially for households and renewable energy sources. In France, the government regulates residential electricity prices and sets tariffs to promote energy efficiency and renewable energy use. In the UK, Ofgem (the Office of Gas and Electricity Markets) regulates certain consumer prices and monitors the market to ensure fair pricing. In India, the Electricity Regulatory Commissions regulate electricity prices and set tariffs to provide fair pricing to consumers.

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Developing the Stock Exchange Will Attract Investment to the Private Sector and Expand Businesses

Published: 2024-10-23 | Translated from: news.mn

The Speaker of the State Great Khural, D. Amarbayasgalan, and members of the Economic Standing Committee got acquainted with the operations of the Financial Regulatory Commission. During this event, Parliament Member E. Batshugar made the following proposals and recommendations. Firstly, our country needs an asset management company and a credit scoring system to determine credit ratings. The Bank of Mongolia is currently working with the Korean "Kamco" company for advice. It is necessary to implement the credit scoring and credit ratings system in the same way as countries with developed financial markets. Through this, we will move towards a system that rewards financially disciplined citizens by identifying all borrowers. Establishing credit ratings will bring positive effects to NBFIs and the banking sector. Secondly, there is much to discuss regarding the stock exchange and the securities market. We need a system to protect our small shareholders. Many companies were privatized in Mongolia in the early 1990s, but today, their shares are not traded. Companies that have become joint-stock companies yet do not trade should now be delisted from the stock exchange. Thirdly, looking at the London Stock Exchange, there are two separate boards, the alternative investment market and the main board. Through this, young people can evaluate their business ideas and sell 20-30% of their shares to expand their businesses with the investment. Shareholders also benefit from returns. If our country transitions to this system, it will create opportunities for startups and individuals starting their businesses to raise initial capital. Fourthly, we need to open the opportunity for direct purchase of shares from the stock exchange. During COVID, citizens purchased coins worth 2 trillion tugriks because it was possible to use mobile applications to buy coins directly. However, it takes many steps to purchase shares. I think it is necessary to promote companies doing online trading. Additionally, our stock exchange currently trades from 10 AM to 1 PM, and it should extend its trading hours to operate for a full eight-hour working day. This will increase liquidity. Fifthly, interoperability is often discussed. It maintains liquidity between dual-listings on two exchanges. For example, Kazakhstan and the London Stock Exchange created this in 2008, allowing Kazakhmys to be listed on both and remain fully convertible. This is great support for the stock exchange. When I worked in investment banking at JPMorgan in London, I witnessed this regarding securities and raising capital. Sixthly, if our stock exchange achieves interoperability with the Toronto, Australian, and London stock exchanges, it has full potential to attract foreign investors and expand. Through this, domestic companies will have the opportunity to attract foreign investment through the stock exchange. We must actively work on this ourselves. Seventhly, recently, the mining exchange has been criticized for taking deposits from buyers who do not participate and keeping them in banks, earning interest, and increasing their income. This needs to be monitored. Eighthly, we should open the opportunity for citizens to buy government bonds at auctions. In recent years, only banks bought government bonds. Therefore, government bond trading should be conducted through the stock exchange, enhancing public participation. Lastly, while stock exchanges in developed financial markets comprise 50% of the total financial market, it accounts for 55% in Mongolia. With the development of the stock exchange, a huge gateway will open for the private sector to attract investment and expand businesses.

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E. Batshugar: Development of the Stock Exchange Creates Opportunities for Private Sector Investment

Published: 2024-10-23 | Translated from: isee.mn

Chairman of the State Great Khural D. Amarbayasgalan and members of the Economic Standing Committee visited the operations of the Financial Regulatory Commission. During this visit, Parliament Member E. Batshugar provided the following proposals and recommendations. Firstly, our country needs a system for asset management companies and credit scoring and rating. The Bank of Mongolia is currently working with advice from the Korean company Kamco. We need to implement credit scoring and ratings in line with the practices of financially developed countries. By doing so, we will move towards a system that clearly identifies all borrowers and rewards financially disciplined citizens. Defining credit ratings will bring positive impact to non-bank financial institutions and the banking sector. Secondly, there is much to be discussed regarding the stock exchange and securities market. We need a system to protect small shareholders. Many companies were privatized in the early 1990s but are now still registered without their shares being traded. Shareholding companies that are not trading should now be removed from the stock exchange. Thirdly, looking at the London Stock Exchange, there are two separate boards called the Alternative Investment Market and the Main Board. Through these, young people can evaluate their business ideas, sell 20-30% of their shares, and use this capital to expand their businesses. Shareholders also benefit. For our country, transitioning to this system would create an opportunity for startups and new business owners to raise initial capital. Fourthly, we should open opportunities to buy shares directly from the stock exchange. During the COVID period, citizens bought coins with two trillion tugriks. Why? Because it was possible to buy coins directly using a mobile app. However, purchasing shares involves going through many steps. I think it is necessary to introduce companies conducting online trading to the public. Our stock exchange operates between 10 AM and 1 PM, and we should extend it to a full eight-hour workday to increase liquidity. Fifthly, there is a concept called "interoperability." This involves maintaining the convertibility of dual listings between exchanges. In 2008, Kazakhstan and the London Stock Exchange achieved this with the Kazakhmys company being listed on both exchanges with direct convertibility. This greatly supports the stock exchange. I observed this during my time with JP Morgan investment bank in London. Sixthly, if our stock exchange establishes interoperability with the Toronto, Australian, and London exchanges, there is the full potential to attract foreign investors and expand the stock exchange. This will allow domestic companies to attract foreign investment through the stock exchange. For this, we must actively work on it ourselves. Seventhly, there are criticisms regarding the mining exchange collecting deposits from non-participating buyers and then increasing their own income by placing this money in the bank to earn interest. This practice needs to be monitored. Eighthly, opportunities for citizens to buy government bonds should be opened. In previous years, only banks bought government bonds. Therefore, government bond trading should be conducted through the stock exchange, allowing public participation. Finally, in financially developed countries, the stock exchange represents 50% of the total financial market. In the case of our country, it represents 55%. With the development of the stock exchange, a major gateway would open for private sector investment and business expansion.

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Report: Dollar Exchange Rate has Increased by 35 MNT in Two Weeks

Published: 2024-10-23 | Translated from: news.mn

This year, the dollar exchange rate had been stable, but in recent days it has been fluctuating quite a bit, essentially rising every day. To find out about the dollar rate and its demand, we visited the "Naiman Sharga" currency exchange market, which is highly frequented by the general public. Out on the well-known long street where the "Naiman Sharga" currency exchange market is located, people are stopping everyone passing by with "Do you have dollars? Want to buy dollars? What do you need?" These are the currency traders. Most of them are seen holding 20,000 tugrik banknotes in their hands. Some are holding yuan, yen, or dollars as well. According to traders, the USD has been increasing little by little every day for over 10 days. Traders noted, "It's interesting that the US dollar, which had been stable for almost a year, started to rise after the parliamentary and local elections. The Bank of Mongolia says there is no shortage of dollar reserves, that reserves are sufficient. The sudden increase in the USD has no clear reason. Generally, in October and November, the USD rate is stable, but the yuan price increases slightly as New Year approaches. After the COVID-19 pandemic, since 2023, the highest market rate for the USD has been between 3,380 to 3,390 tugriks. Over the past two weeks, it increased by 35 tugriks and the current selling price is 3,425 tugriks. An increase of 30-35 tugriks over 14 days is dangerous. This leads to a depreciation of the tugrik and results in many negative consequences like the rise in prices of essential goods and products," they said. They also mentioned that the USD was not rising, but stable, at this time in 2023. Given its current rapid increase, they perceive that it will continue to rise. Therefore, traders emphasized the importance of regulating the currency rate with a policy. Additionally, there is a low purchasing power among the public. In October 2023, the USD was stable at around 3,460 tugriks. According to data from commercial banks from October 2023 to the present, the USD was around 3,460 tugriks. Then it steadily decreased, fluctuating between 3,390-3,400 tugriks in March 2024. From the end of March 2024 until October, it was stable, but started rising in mid-October. Other currencies remained stable. Inside the "Naiman Sharga" market, most stalls were idle, and traders were on their phones, with few customers. They explained, "Customer traffic is very low. People are hardly exchanging currency. The US dollar rate has been fluctuating consistently in recent days. Some people get angry, thinking traders are raising prices. But the price here is the same as the prices at commercial banks. We really don't know why the dollar rate is rising," they lamented. Exchange rates varied among traders standing inside and outside the market. Specifically, outside traders' buying and selling rate was set at 3,410 tugriks. Whereas, inside "Naiman Sharga," traders' buying rate was 3,415-3,418 tugriks and selling rate was 3,425 tugriks. Citizen N. Gombojav is going to a Peacekeeping Mission in South Sudan in November. Due to training preparations, he had not managed to exchange his money into USD until now. He said, "I didn't expect the USD rate to rise. It was stable when I checked at the beginning of October. Now, it's slightly increased. Since we don't need to buy large amounts of USD, it's not a big issue for us. But if it continues to rise, it will negatively affect the Mongolian economy." Economist R. Davaadorj explained the reasons for the increase after a stable year for the USD. He said, "In the first nine months of last year, the statistics showed exports were 11.3 billion USD and imports were 6.7 billion USD. But this year, exports are 11.7 billion USD, while imports have risen to 8.6 billion USD. This shows an increase in the volume of imports, thus the outflow of currency has increased. In my view, the currency rate reflects the consequences of the budget's overly expansionary policy. In 2023, the budget increased by 24% compared to the previous year, and in 2024 it was approved to increase by 22%. In 2023, the budget was 22.4 trillion tugriks and became 30.6 trillion tugriks with amendments. The expansion by 8 trillion tugriks in just one year is negatively impacting the currency rate. Also, the ruling party released a large amount of money into the market before the parliamentary elections, increasing wages and pensions, and implementing various programs to attract voters, which led to this response in just one quarter," he stated. In other words, saying that the currency reserves are sufficient is difficult. At the beginning of the year, foreign currency reserves were 5.2 billion USD and now have decreased to 4.6 billion USD. Experts indicate that if the USD continues to rise, it will impact currency reserves.

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Development Bank: Inviting Companies and Individuals to Participate in Real Estate and Land Auctions

Published: 2024-10-23 | Translated from: ikon.mn

In the framework of debt repayment operations, the Development Bank will hold a compulsory auction on October 25, 2024, at 10:00 AM at room 200 of the Capital City Court Decision Enforcement Agency. The aim is to sell certain real estate and land. This compulsory auction will be conducted openly in an auction format, starting from a price discounted by 70% from the market value according to relevant laws and regulations. This compulsory auction includes a mineral deposit located in the Shavart area of Nalaikh district with an area of 25.94 hectares, real estate located in the 6th khoroo of Chingeltei district with an area of 3,780 square meters, along with the land use rights for an area of 4,380 square meters. Additional properties include land with the right of ownership in Sergelen soum of Tuv province covering 50,000 square meters, a land area of 29,976 square meters in the 2nd khoroo of Nalaikh district, and an open trading area designated land in the 11th khoroo of Darkhan soum in Darkhan-Uul province with an area of 3,963 square meters, along with a 324 square meter building designated for an auto garage and a 1,980 square meter property for industrial and service use. Citizens and business entities interested in these properties are encouraged to participate. For detailed information related to the compulsory auction, please visit www.niislel.cd.gov.mn or www.facebook.com/niislel.cd.gov.mn. Contact number of the responsible decision executor: 89070239. Warning: Media organizations (TV, Radio, Social Networks, and Websites) must credit the source (ikon.mn) when using our information in any form, whether in full or in part.

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Diplomacy

Mongolia Needs to Approach the Global Division with More Strategy and Intelligence

Published: 2024-10-23 | Translated from: news.mn

The focus of the world's political and economic players is on Kazan, the capital of the Russian federal state of Tatarstan. There, a BRICS summit is taking place, aiming to overthrow the dollar's dominance and create the main growth of global GDP. Leaders of the 10 founding and member countries are participating, along with delegates and representatives from numerous other countries. Even UN Secretary-General A. Guterres has reportedly agreed to attend the meeting. The BRICS group, which represents 45% of the world's population and 25% of global exports, has received membership applications from countries like Turkey, Thailand, Cuba, and Syria. This is due to the increasing reputation, operation, and growing role of the group in the global economy. Besides aiming to change the economic imbalance among the world's countries, the group advocates altering the international order, historically decided by a few developed countries, to establish a more honest and equitable new order. China has emerged as the main player within BRICS due to its economic scale, global influence, and investment capacity. For instance, in 2009, 15 years ago, China's trade (exports and imports) with Russia, India, Brazil, and South Africa was 960 billion yuan, but by 2023 this had grown to 4.3 trillion yuan. After BRICS expanded its membership, in the first three quarters of this year, China's trade with "bloc" members reached 4.6 trillion yuan. As BRICS' economy expands, experts speculate that a new era in international relations has begun as "G-7" influence wanes. The world is divided by values and ideologies into "The Big Seven" and BRICS. This global division might force Mongolia into a difficult choice in the future, much like a seal pup between two rocks. Mongolia should foresee such risks and plan its moves in advance, much like a chess game, with several moves ahead in view. Geographically, Mongolia lies right in the center of BRICS countries, bordering two of the seven founding countries—Beijing and Moscow. Despite being a democratic, parliamentary, independent state, Mongolia is de-jure economically dependent on Russia and China. Its exports and imports depend on Beijing, while its fuel supply comes directly from Moscow—de-facto. At the beginning of September, during a 24-hour visit to Ulaanbaatar, the President of the Russian Federation, V. Putin, after pushing his interests on Mongolia's mega projects announced by the government's decision and "mocking" the decision of the International Court of Justice, invited Mongolia's President U. Khurelsukh to the BRICS summit. It is clear that this was not an act of friendly neighborliness but rather a ploy to probe Mongolia's foreign relations policy and approach. The "G-7" comprises the world's seven largest economies. Established in 1975, it has regulated global economic, political, foreign relations, and security orders. Mongolia maintains a third-party partnership with the "G-7," particularly with Japan, which acts as Mongolia's donor country. In times of hardship, Japan is the first to extend a helping hand to Mongolians. With a constitution protecting democracy, human rights, and freedom, Mongolia shares similar values and ideologies with the "G-7." Since World War II, the economic power of the world has shifted from the United States, especially New York, known as the city of billionaires, to Asia. Nonetheless, Mongolia should approach the global division between "The Big Seven" and BRICS with more cunning and intelligence. The UN Secretary-General A. Guterres has declared Mongolia as the symbol of world peace globally. By maintaining this image and staying neutral, Mongolia, as a small country, can employ this strategy for survival. In essence, strategy refers to intelligence and tact!

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The Australian Ambassador expressed interest in expanding cooperation in the mineral and mining sector

Published: 2024-10-23 | Translated from: isee.mn

Chairman of the State Great Khural D. Amarbayasgalan received Katie Smith, Ambassador Extraordinary and Plenipotentiary from the Commonwealth of Australia to Mongolia. Chairman Amarbayasgalan noted that the official visit of the President of the Senate of the Australian Parliament, S. Lyons, to Mongolia was of great importance for expanding cooperation between the legislative bodies of the two countries and strengthening Mongolia-Australia relations within the framework of Mongolia's "Third Neighbor" policy. He also expressed the parliament's support for any initiatives and policies aimed at enhancing bilateral relations, maintaining the frequency of political dialogues, and elevating bilateral relations to a new level. Ambassador K. Smith informed that Australia supports the regional energy transition by exporting experiences and technologies related to renewable and clean energy. She commended the participation of a delegation led by the Deputy Prime Minister of Mongolia in the upcoming International Mineral Resources Conference in Sydney, where they plan to organize a special event regarding the mining and investment environment. The Ambassador expressed her attention to personally participating in this event to promote Mongolia and further expand cooperation in the mineral and mining sector, as well as increase investment. Furthermore, in view of the rapidly expanding people-to-people relations between the two countries in recent years, the ongoing work on a Social Protection Agreement and an Intergovernmental Agreement on Air Services is of great importance in creating a legal environment for bilateral relations that meets current needs, emphasized the parties, according to the information from the Press and Media Office of the State Great Khural.

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Declared Attention on Expanding the Mining Cooperation between Mongolia and Australia

Published: 2024-10-23 | Translated from: montsame.mn

On October 22, the Chairman of the State Great Khural, D. Amarbayasgalan, received the Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia, Katie Smith. Chairman D. Amarbayasgalan noted the official visit of the President of the Australian Senate, S. Layons, to Mongolia as important for expanding cooperation between the legislative bodies of the two countries and for strengthening Mongolian-Australian relations and cooperation within the framework of Mongolia's "Third Neighbor" policy. He expressed that initiatives and policies aimed at elevating the level of bilateral relations and maintaining the frequency of political dialogues would be supported by the parliament. Ambassador K. Smith informed that Australia is supporting the regional energy transition by exporting renewable and clean energy expertise and technology. Moreover, it was noted that a delegation led by the Deputy Prime Minister of Mongolia will soon participate in the International Minerals Conference in Sydney, organizing a special event discussing mining and investment environment. The Ambassador expressed interest in personally participating in this event to promote Mongolia and focus on expanding bilateral cooperation in the mineral sector and increasing investments. Also, in light of the rapidly expanding interpersonal relationships in recent years between the two nations, important legal frameworks are being developed with the establishment of a Social Security Agreement and an Intergovernmental Air Services Agreement, marking significant steps in adapting the legal environment of bilateral relations to contemporary needs, as highlighted by the parties, according to the Press Office of the State Great Khural.

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The Embassy Warns Students and Citizens in China to Be Cautious with Money Transfers

Published: 2024-10-23 | Translated from: isee.mn

The Embassy has issued a warning for students studying in China, as well as citizens and businesses, to exercise caution when conducting cross-border money transfers. Students studying on scholarships from the government of the People's Republic of China have been receiving large sums of money transfers from unknown Chinese individuals into their accounts and then transferring these amounts to certain citizens of Mongolia. As a result, they are under investigation by Chinese law enforcement authorities for potential criminal involvement. It has also been reported by the Embassy of Mongolia in China that there have been frequent cases of account freezing, closure, and people becoming victims of cybercrime. Therefore, the Embassy advises students, citizens, and businesses in China to be careful with international money transactions and to prevent becoming victims or associates of cybercrime.

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Revenue from Stamp Duties of Diplomatic Missions Increased by 7.9 Billion

Published: 2024-10-23 | Translated from: gogo.mn

The meeting of the Standing Committee on Security and Foreign Policy of the State Great Khural convened today at 12:30 PM with a 56% member attendance. The second discussion on the draft laws concerning the 2025 budget, the 2025 budget of the National Wealth Fund, the 2025 budget of the Social Insurance Fund, and the 2025 budget of the Health Insurance Fund was conducted. The proposed 2025 budgets of the general budget overseers have been amended in terms of revenue collection compared to the revised 2024 budget. The revenue from stamp duties of diplomatic missions under the portfolio of the Minister of Foreign Affairs was increased by 7.9 billion, the revenue from affiliated organizations by 2.2 billion, and the centralized revenue under the Minister of Defense by 5.0 billion MNT. In addition, the total expenditure and net loans were increased by 287.9 billion MNT compared to the revised 2024 budget. Minister of Finance B. Javkhlan stated that funds for enhancing the readiness and operational capacity of the personnel of state military organizations, providing uniforms and supplies for officers, non-commissioned officers, conscripts, and contracted servicemen, supplying fuel and lubricants according to approved norms and standards, as well as maintenance and repairs of vehicles and equipment, were included in next year's budget. Budgets have also been allocated for services to enhance the readiness for national defense, and for creating a safe and healthy working and living environment for military personnel, while fostering a human-centered approach based on human rights. BUDGET FIGURES In the 2025 consolidated budget proposal, the balanced revenue is 33,864.7 billion MNT, representing 35.6% of the GDP. Total expenditure is 35,795.2 billion MNT, representing 37.7% of GDP. The basic budget balance is a surplus of 1,909.5 billion MNT. The adjusted budget balance is a deficit of 1,930.5 billion MNT, equating to 2.0% of GDP.

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Speaker of the State Great Khural D. Amarbayasgalan Meets Australian Ambassador K. Smith

Published: 2024-10-23 | Translated from: gogo.mn

Speaker of the State Great Khural D. Amarbayasgalan received the Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia, Katie Smith. Speaker D. Amarbayasgalan emphasized the importance of the official visit to Mongolia by the President of the Senate Chamber of the Australian Parliament S. Ryan in expanding the cooperation between the legislative bodies of the two countries and strengthening the relations and cooperation between Mongolia and Australia within the framework of Mongolia's 'Third Neighbor' policy. The Speaker expressed commitment from the parliament to support any initiatives and policies aimed at elevating the level of bilateral relations, maintaining the frequency of political dialogues, and expanding bilateral relations. Ambassador K. Smith informed that Australia supports the regional energy transition by exporting experience and technology in renewable and clean energy. She appreciated the upcoming participation of the Deputy Prime Minister of Mongolia and a delegation at the international mineral resources conference in Sydney and expressed her commitment to attend this event, promote Mongolia, and work towards expanding cooperation in the mineral resources and mining sectors between the two countries, as well as increasing investment. In addition, with the rapid expansion of people-to-people relations in recent years, both sides highlighted the importance of establishing a Social Security Agreement and an Air Services Agreement between the governments of the two countries, which will create a necessary legal framework for bilateral relations, according to the State Great Khural's Press Office.

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Representatives of France's Ministry for Europe and Foreign Affairs visit Mongolia

Published: 2024-10-23 | Translated from: gogo.mn

At the invitation of Major General G. Ariunbuyan, Head of the National Emergency Management Agency of Mongolia, a delegation led by General Colcombe, Head of the Defense and Security Cooperation Department of the Ministry for Europe and Foreign Affairs of the Republic of France, is visiting Mongolia. The visiting delegation will familiarize themselves with the operations of the emergency management organizations from the 23rd to the 26th of this month. Today, they visited Rescue Unit 105 of the Capital City and the disaster protection education center for citizens of the capital. During this event, as part of the cooperation between Mongolia and France, rescue equipment worth 34,000 euros from the PETZL brand was handed over to the Air Search and Rescue Unit 111. The Ambassador Extraordinary and Plenipotentiary of the Republic of France to Mongolia, Ms. Corinne Pereira, and other officials attended this handover ceremony. During the visit, they will also familiarize themselves with the activities of military units and branches of the emergency management organizations in the coming days. For instance, joint training on mountain rescue operations will be organized with the officers, according to the National Emergency Management Agency.

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Russian attacks delay Gaza food aid shipment

Published: 2024-10-23 | Translated from: news.mn

Russian forces have reportedly attacked ships carrying food destined for the Gaza Strip. Specifically, the impact of strikes on Ukrainian ports has delayed the delivery of crucial aid intended for Palestinian civilians, according to statements from British intelligence agencies. "This incident demonstrates that Russian President Putin is prepared to gamble with global food security to achieve victory in the war. By doing so, he is attempting to harm vulnerable groups across Africa, Asia, and the Middle East, while securing advantages for himself. Russia shows no respect for the norms and laws that govern international systems. Their use of North Koreans on the battlefield reflects their desperation. Now they are attacking the Ukrainian regions that supply vital food to the southern part of the world," stated UK Prime Minister Keir Starmer. According to British reports, at least four commercial vessels have been targeted by Kremlin bombings between the 5th and 14th of this month. Among them was a Panamanian-flagged container ship carrying sunflower oil as part of a UN cargo. A World Food Program vessel transporting grain to South Africa was also hit. SOURCE: THE TELEGRAPH

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Infrastructure

Agreement for Nuclear Power Plant Construction Near New Kharkhorum

Published: 2024-10-23 | Translated from: isee.mn

The Russian ambassador to Mongolia has announced that an agreement will be signed next year for Russia to build a nuclear power plant near New Kharkhorum. Last September, Russian President V. Putin made an official state visit to Mongolia. During this visit, discussions took place and mutual understanding was reached regarding the construction of a small nuclear power plant near New Kharkhorum city. Russia may sign the agreement to build a small capacity nuclear power plant near New Kharkhorum in the first half of next year. Our country is directly dependent on Russia for electricity and fuel. Thus, the ambition to have our own power plant has existed for a long time, but this desire has been played upon by Russia. For instance, Russia has hindered a uranium project in cooperation with France and has allegedly deceived us by promising to build a small nuclear power plant, which has also stalled the Egiin River hydropower plant project. Recently, the Russian ambassador to Mongolia, Alexey Yevsikov, mentioned in an interview with the Russian newspaper "Izvestia" that the agreement to build a small nuclear power plant near New Kharkhorum might be signed in the first half of 2025. During President Putin's visit to Mongolia last September, discussions were held and an understanding was reached about the possibility of placing the new small capacity nuclear power plant in the area near New Kharkhorum city. Ambassador Alexey Yevsikov also stated that the capacity of this NPP could be up to 330 MW. Putin is implementing a policy to build small nuclear power plants in countries that were part of the former Soviet Union. In September, "Rosatom," the Russian state corporation, reported that the technical design for the nuclear power plant to be built in Mongolia had been approved. Additionally, since June 2024, a representative office of Rosatom has been operating in Ulaanbaatar. This corporation is working with "Mon-Atom," and discussions are ongoing about two thermal power plants, "Tavantolgoi" and "Tsagaan-tolgoi," although it is not certain they will be built. The project to build a nuclear power plant is currently one of the leading areas of cooperation between Russia and the countries of the Commonwealth of Independent States (CIS). In particular, Russia is building low-capacity nuclear power plants in Kyrgyzstan and Uzbekistan. The CIS countries were part of the former Soviet Union, and in this region, Russian President V. Putin is pursuing a policy of providing nuclear power plants, with Mongolia being one of these countries, as seen in the New Kharkhorum power plant project. In any event, the agreement to build a nuclear power plant in New Kharkhorum is expected to be signed next year. However, it is difficult to expect results from this country, which has always promised to build power plants for us with beautiful words but has repeatedly deceived us. It cannot be ruled out that it might become another lengthy delay like the Egiin River hydropower plant.

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M.Enkhtsetseg: The time has come to reform the energy sector, recognized and supported at all levels

Published: 2024-10-23 | Translated from: gogo.mn

The working group of the State Great Khural tasked with revising the Energy Law, Renewable Energy Law, the Law on Energy Efficiency, and related legislation met today. The working group has established an Executive Team made up of professionals from the energy sector. During today's meeting, they received updates on the progress of this team. We spoke with M. Enkhtsetseg, leader of the working group and a member of the State Great Khural, about these developments. The task of our group is to revise three draft laws: the Law on Energy, Renewable Energy, and Energy Efficiency, and present them for decision-making at the spring session of the State Great Khural next year. The energy sector is large. Therefore, there is an essential need to involve many stakeholders in the process of legislative reform. In other words, aside from members of the State Great Khural, we have numerous representatives from sector organizations, researchers, non-governmental organizations, private and state-owned companies participating out of necessity. To ensure this participation, we have set up an Executive Team working full time with some of the best professionals in the energy sector. This team includes representatives from the Ministry of Energy, the Energy Regulatory Commission, the National Dispatch Center, the 3rd and 4th Thermal Power Plants, the National Transmission Network, the Ulaanbaatar Electric Distribution Network, the Ulaanbaatar Heating Network, as well as advisors from members of the Great Khural, legal experts, and engineers from energy organizations, totaling 21 people. In addition, we are working to set up a Support Team comprising over 30 people from domestic and foreign experts, including department heads of the Ministry of Energy, state and non-governmental representatives, and researchers who must be involved despite not being able to work full time. Furthermore, a Consulting Team led by the Minister of Energy, including the ministry's State Secretary and the Chairman of the Energy Regulatory Commission, is working on the laws drafted by the Executive and Support Teams. Focusing attention and ensuring the involvement in drafting quality and effective legislation is very important. The Executive Team has been operational for just a week. During this time, their intense and organized efforts were evident in today's report. The Executive Team has begun evaluating the implementation and impact of currently effective laws. They are detailing matrices for each provision of law, assessing whether they are implemented, the level of implementation, and the percentage of effectiveness. Secondly, we are conducting surveys among all stakeholders in the energy system. This includes producers, distributors, and consumers, gathering opinions on satisfaction with system operations and services, what’s working, what’s not, where legal improvements are needed, etc. To gather public opinion, we announced a "Give Your Opinion on Energy Reform" campaign running from October 15 to November 15, distributing posters across social media and media outlets. We have also initiated a comparative legal study of foreign countries' legal environments. We emphasized the importance of thoroughness in this research. The Executive Team has completed translating the national energy law of Australia and is working on translating Estonia's, Germany's, and Denmark's thermal energy laws, as well as Germany's renewable energy laws. Moreover, they have begun translating a significant document from the International Energy Agency titled "Reconsidering Energy Sector Reform in Developing Countries." This research brings insights from over 150 countries' energy reforms, their mistakes, achievements, and guidance on implementing future reforms. Another major task is studying the existing rules and regulations followed by all sector organizations. We aim to identify if these rules regulate beyond the law or cover aspects not stipulated by the law, providing a detailed assessment and report. A significant indicator of whether legal relationships are properly regulated is the issue of grievances, which involve disputes and cases related to legal regulations. Studying these can show what amendments would have prevented such disputes, a common practice internationally. There is a consensus among sector specialists that legal amendments are necessary. The current Energy Law has very general regulations, and the thermal sector is almost unregulated. The Renewable Energy Law, for example, is just three pages long when detailed. The terminology, definitions, government's rights and duties, special permits, and tariffs are very basic. The failure to develop detailed regulations leads to numerous rules governing the system beyond the law. Frequent changes and chairmen's decisions make the regulatory environment unstable. Comparatively, foreign laws regulate all aspects of the energy sector comprehensively, offering more stability than the changeable rules and regulations. The time to reform has been accepted and is supported by sector participants, political circles, and the general public, who share a unified heart and mind. In Executive Team discussions, we are reviewing translated foreign laws. We are analyzing each organization’s roles, activities, their interactions, and how regulations uniquely apply. Such deep and focused work will enable us to transition the energy sector to a market-based system grounded in competition, aligning legal reforms. We are very pleased with the broad support from both sector participants, political figures, and the general populace. Under Deputy Prime Minister T. Dorjkhand's leadership, a National Committee for Energy Reform has been established, supported by the Ministry of Energy, the Energy Regulatory Commission, and other sector entities actively contributing to our Working Group's efforts. In short, conditions are favorable for reform in this sector, and our Working Group is certain to fulfill its mission.

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Government Meeting Presentation on Energy Reform

Published: 2024-10-23 | Translated from: gogo.mn

The regular meeting of the government began today at 08:00 and is ongoing. The agenda for today's meeting includes: - Presentation on energy reform - Draft government resolution on 'Determining the stock level of petroleum product companies' - Draft government resolution on 'Adoption of new regulations' /Regulation on determining the health fitness of citizens for military service and the health status of military personnel/ - Discussion on 27 issues, including the 14 mega projects included in the government's action program, such as the Orkhon-Ongi and Kherlen-Toono water projects.

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Will Nuclear Energy Fill the Growing Energy Demand and Decline in Production?

Published: 2024-10-23 | Translated from: ikon.mn

As global warming reaches a critical point, potentially threatening a livable climate, countries worldwide are setting ambitious goals to reduce carbon emissions by 50% by 2050 and achieve Net Zero emissions—where the amount of greenhouse gases emitted is equivalent to the amount removed from the atmosphere. Specifically, Mongolia announced a commitment at the United Nations to reduce its greenhouse gas emissions by 22.7% by 2030. To meet these targets, the energy sector must undergo significant changes, with efforts towards reducing emissions across various sectors being a daily challenge for Mongolia. This is crucial because the energy sector is responsible for about 75% of global carbon emissions. Thus, countries are implementing financial policies to reduce fossil fuel consumption, which currently accounts for 82% of sources, by threefold. Amidst this, energy consumption continues to grow year by year. Global energy consumption is expected to increase steadily, with nuclear and renewable energy production predicted to triple by 2050. Graph Explanation: - EnerBase: This scenario continues current policies and historical consumption patterns without aims for climate neutrality, leading to increased energy needs and limited diversification of fuels, resulting in average global temperatures rising above 3°C. - EnerBlue: This scenario involves implementing and successfully achieving the Nationally Determined Contributions (NDCs) by 2030 and continuing steadfast efforts thereafter, potentially limiting global warming to 2-2.5°C. - EnerGreen: This scenario entails countries exceeding their NDCs with stringent policies, significantly enhancing energy savings and heavily promoting renewable and nuclear energy usage, aiming to cap global warming increase below 2°C. By 2050, nuclear and renewable energy will account equally. Despite constraints on coal and solid fuels possibly impacting production, fossil fuels will still supply 43% of energy by 2050, according to "Badarch Energy" CEO Marc Meillard's presentation on "Energy Transition Goals and Consequences of Natural Uranium Supply" at "Mining Week 2024." Thus, bridging the gap between increasing consumption and decreasing production remains a major challenge. Fully relying on renewable energy requires substantial energy storage, while nuclear energy holds the potential to contribute significantly to climate change mitigation, as acknowledged at the COP28 discussions. In short, the expansion of low-carbon energy production is crucial, with nuclear energy emerging as a major contributor in the transition from coal and fossil fuels. According to the International Energy Agency, electricity from coal is expected to drop from 27% to 5% by 2050, while renewables could increase from 14% to 45%. Nuclear energy might also increase from 4% to 12%, closely linked to climate action strategies. Being a source of non-emissive, clean energy, nuclear power development is intensifying. As of 2024, 416 reactors across 32 countries supply nuclear energy. In recent years, countries like France, the UK, the US, Canada, South Korea, Japan, Sweden, and the Netherlands have publicly announced their political stance to develop nuclear power policies, while Ghana, Kenya, Poland, Saudi Arabia, Turkey, Uganda, and Uzbekistan have shown new interest in this field. As of today, 15 countries are building 59 reactors, with China planning to build 180 reactors by 2050. China aims to lead in the energy sector, especially nuclear energy, by 2035. Kazakhstan, a leader in uranium extraction, held a public referendum on the establishment of a nuclear power plant, with 71% public support. Reaching Net Zero by 2050 requires increasing current nuclear-generated electricity from 383 GW to 816 GW. Following this global trend, the demand for natural uranium has risen, with prices doubling from $35 to $75 per pound in the last two years. Mongolia ranks among the top 10 countries with uranium reserves. Since transitioning to a market economy, Mongolia has identified eight uranium deposits, such as the Zuuvch-Ovoo in the Ulaanbadrakh district of Dornogovi province, containing 93,291 tons of uranium. This deposit is one of the largest discovered globally in the last decade, placing Mongolia on the world uranium market map. Jointly established by the governments of Mongolia and France, "Badarch Energy" has conducted over 20 years of research and began trial uranium extraction at Zuuvch-Ovoo during 2021-2022. During an official visit to Mongolia, the President of France expedited an investment agreement signing in Paris, attended by both countries' presidents. There is an expectation for the agreement to be concluded this year. If successful, construction on the Zuuvch-Ovoo project would start next year, positioning Mongolia as a supplier of nuclear energy raw materials in the emerging global green energy field. This would diversify Mongolia's mining exports and attract strategic third-party investments. Most importantly, Mongolia would become a significant contributor in addressing the growing global energy shortage and combating climate change. Conversely, without a successful investment agreement, Mongolia risks missing its opportunity to become a new player in the uranium market. Countries like Uzbekistan and Canada are advancing their uranium mining development, competing to fill the global uranium shortage. Mongolia faces the threat of losing opportunities to diversify its mining exports and attract strategic investments. Agreeing on the investment is vital as it signals the Mongolian government’s support for foreign investment, marking a crucial moment for Mongolia to enter the green energy sector and aid climate change efforts.

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Minister Ts. Tuvaan Addresses Issue of Determining Oil Product Company Reserves

Published: 2024-10-23 | Translated from: itoim.mn

At today's government meeting, the Minister of Mining and Heavy Industry, Ts. Tuvaan, presented and resolved the issue of determining the reserves of oil product companies. Under the Law on Oil Products of Mongolia and the "Regulation on the formation of reserves for companies importing and engaged in wholesale and retail trade of oil products" approved by Government Resolution No. 126 of 2012, the amount of reserves for oil product companies has been annually updated by government resolution based on the amount of fuel imports. Consequently, the government resolution draft concerning the amount of reserves that oil product companies must form by 2025 was prepared and approved. The reserve amount for oil product companies was set at 146,500 tons per month for 2024, but it increased to 179,800 tons for 2025. The monthly consumption of oil products has shown a 19% increase compared to the previous year.

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The Number of Vehicles in the Capital Exceeds by 55 Thousand

Published: 2024-10-23 | Translated from: news.mn

Vehicles imported into the country will not be assigned a registration number belonging to the capital, according to officials. T. Davaadalai, the first deputy mayor of the capital, provided information on this matter. He said, "39.8 percent of public transport is in the capital. The speed of public transport circulation has slowed down. During peak congestion hours, traffic congestion stretches for more than 90 kilometers. At this rate, in the future, during peak traffic times, vehicle speed will approach that of a pedestrian. Additionally, projections indicate that congestion length could reach 200 kilometers. Therefore, on February 8 of this year, the capital city council issued a resolution setting the upper limit for vehicle registration numbers in the capital at 730,000. However, as of today, 785,000 vehicles are registered in Ulaanbaatar city. This means the number of vehicles in the capital has exceeded by 55,000. In Ulaanbaatar, there are many old vehicles that have been used for more than 10 years, which also contribute to air pollution. Furthermore, drivers themselves are also at fault for causing congestion. In other words, 5-10 percent of congestion is due to drivers' behavior. For example, issues include stopping directly on the road, leaving vehicles, and violating traffic rules." The decision to set an upper limit on the registration numbers for Ulaanbaatar city’s public transport aims to reduce traffic congestion, air pollution, and road traffic accidents. This decision is set to be implemented from November 8. Priority will be given to vehicles with steering on the left when allocating numbers. Additionally, from December 1, vehicles that have not undergone inspection and diagnostics will not be allowed to participate in road traffic.

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The National Conference on Regional Development will be held this Saturday

Published: 2024-10-23 | Translated from: isee.mn

The National Conference on Regional Development will be organized at "UG Arena" on the 26th of this month. During the conference, seven sectoral meetings will be held, regional exhibitions will be displayed, and the main directions for regional development will be introduced. Specifically, the Khangaï region will be developed as a sub-region focusing on Mongolian history, statehood, cultural heritage, and traditional nomadic culture, with an emphasis on creative cultural industries and specialized livestock farming. The Western region will be transformed into an "Energy specialized, nature tourism sub-region," relying on the natural landscapes of Uvs Lake Basin and the Mongolian Altai-Khangai mountain ranges, as well as the historical and cultural heritage of various ethnic groups and energy resources. The Northern region will be developed as a "Nature tourism specialized, industrial sub-region," based on the ecosystem of Lake Khuvsgul and the Selenge River Basin, along with the natural, historical, and cultural heritage. The Central region will be connected to a unified transport logistics network and developed into an "Agricultural specialized, industrial sub-region," drawing on agriculture and natural resources. The Eastern region will be developed as a "Historical tourism specialized, intensified agricultural sub-region," relying on the ecosystem of Khan Khentii, the natural heritage of Dornod, and the statehood, history, and cultural heritage of Genghis Khan. The Gobi region will be transformed into an "Industrial specialized, green energy sub-region," based on mining, the Gobi's nature, historical and cultural heritage, and paleontological resources. The Ulaanbaatar region will be developed with a suitable structure of population, production, service, and environmental facilities, featuring 20-minute service accessibility centers, and will be turned into an international banking, financial, and business development center.

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"Petrovis" to Close Road for Repairs Tonight

Published: 2024-10-23 | Translated from: ikon.mn

In Khan-Uul district, the 1st sub-district, as part of the partial repair and renovation work on Chingis Avenue, the road from the "Petrovis" gas station to the 120 thousand bus stop will be closed tonight, from 23:00 on October 23 to 06:00 on October 25, according to the City Road Development Department. Therefore, citizens and drivers are advised to use alternative routes. Although it was announced that road and repair works in Ulaanbaatar city would be halted, they continue. Warning: When using our information in any form, including completely or partially, media organizations (Television, Radio, Social and Web pages) must cite the source (ikon.mn).

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National Conference on Regional Development to be Held

Published: 2024-10-23 | Translated from: montsame.mn

A national conference on regional development will be organized at UG Arena on the 26th of this month. The conference aims to reach a unified understanding of the policy of regional development, identify and address the optimal systems for regional management and organization, and determine the factors limiting regional and local development. The government, together with the National Institute for Regional Development, will organize the conference to discuss investments and projects supporting regional development, expand cooperation among stakeholders, and activate public, scientific, and business participation in regional development. The executive director of the National Institute for Regional Development, D. Erdenebayar, stated, "The government has declared 2024 as the 'Year of Regional Development' and passed the 'Concept of Regional Development of Mongolia' through parliament. The government's action program for 2024-2028 and the 'Courage for Rapid Development' joint government agreement include the implementation of regional development policies. This conference is organized to intensify the implementation of these policy documents, rapidly solve the spatial constraints limiting regional development, exchange opinions, and reach a unified understanding." During the conference, seven sectoral meetings will be held, regional exhibitions will be organized, and the main directions for regional development will be introduced. To specify: - The Khangai region will be developed as a sub-area of traditional livestock farming and urban development based on the dissemination of history, statehood, cultural heritage of Mongolia, and the nomadic cultural center. - The Western region will be developed as a sub-area for energy diversification and eco-tourism, relying on the natural landscapes of Uvs Lake basin, Mongol Altai and Khangai mountains, multi-ethnic history and cultural heritage, and energy resources. - The Northern region, focusing on the Khuvsgul Lake and Selenge River basin’s ecosystem, will be developed as a sub-area for natural tourism and industrialization based on nature, history, and cultural heritage. - The Central region will be transformed into a sub-area for agricultural diversification and industrialization, linked by an integrated transport and logistics network, relying on agriculture and natural resources. - The Eastern region will be developed as a sub-area for historical tourism and intensive agriculture, based on the Khan Khentii mountain range, Eastern natural ecosystem, Burkhan Khaldun, the statehood, history, and cultural heritage of Genghis Khan. - The Gobi region will be developed as a sub-area for industrial diversification and green energy, based on mining, Gobi desert nature, history, cultural heritage, paleontological resources. - The Ulaanbaatar region will be transformed into an international banking, finance, and business development center, with centers that offer services within 20 minutes, having an optimal structure for population, production, services, and the environment.

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Orkhon: "Hybrid House" LLC is building an energy-efficient residential complex

Published: 2024-10-23 | Translated from: montsame.mn

In cooperation with "Hybrid House" LLC, Orkhon Province is implementing a model project for highly energy-efficient "Hybrid Garden" private residential houses. Under this project, a green model town of 37 highly energy-efficient houses is being built on 3.4 hectares in the Erdene district. As part of this initiative, the local government is providing residents with plots of land ranging from 150 to 400 square meters free of charge to construct the houses. This project is notable for using "Hybrid House" LLC's technology, which meets international green building standards and aims to achieve energy savings of over 61%. Orkhon Province aims to reform and increase residential housing in the ger areas by implementing the "Housing Program" policy document for 2022-2025.

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Criteria for Issuing Vehicle Registration Numbers in Ulaanbaatar Starting November 8

Published: 2024-10-23 | Translated from: ikon.mn

In Ulaanbaatar, it has been announced that starting November 8, new vehicle registration numbers will be limited. From this date onwards, the following criteria and indicators must be met for new vehicle registration numbers to be issued: - The owner of the vehicle must be a resident of Ulaanbaatar. - All payments as stipulated by the Road Law and the Violations Law must be settled. - The vehicle must be insured by the driver's insurance. - The vehicle's engine must be Euro 4 compliant or environmentally friendly. - The vehicle must have been manufactured within the last 10 years. - The vehicle must have passed a pre-export technical inspection. When issuing registration numbers, preference will be given based on the date the request was made, hybrid engines, the date of manufacture of the vehicle, and vehicles with a steering wheel on the left side. Currently, out of 785,000 registered vehicles in the capital, 75% or 588,000 have the steering wheel on the right side. One cause of traffic accidents has been identified as vehicles with a steering wheel on the right, and while these vehicles won’t be banned, they will not be supported moving forward, according to T. Davaadalai, first deputy head of economic and infrastructure issues for the Mayor of the Capital. Warning: Media outlets (Television, Radio, Social Media and Websites) must mention the source (ikon.mn) when using our information in any form, either in full or partially.

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T. Davaadalai: Ulaanbaatar City Will Restrict New Vehicle Registrations Starting November 8

Published: 2024-10-23 | Translated from: ikon.mn

During a press conference, it was announced that new registration numbers with Ulaanbaatar's series will not be issued to imported vehicles starting November 1. This information was provided by T. Davaadalai, the First Deputy Governor of the Capital City in charge of economic and infrastructure issues, who stated, "To reduce traffic violations and accidents, a regulation to set the upper limit for vehicle registration in Ulaanbaatar will be implemented starting November 8. As of 2023, Ulaanbaatar has a population of 1.6 million, accounting for 39.8% of its total vehicles. During peak traffic hours, the average vehicle speed has slowed to 7-13 km/h. The international indicator comparing traffic volume to road capacity is 1.7-2.2, and the traffic congestion length has reached 97.3 km. By 2030, Ulaanbaatar's population is expected to reach two million, with an estimated 928,000 vehicles, and during peak loads, vehicle speed may slow to 5 km/h, equivalent to walking speed, and the length of traffic congestion could reach 200 km. To reduce road congestion, preparations are being made to implement metro and Tuul highway projects. In February of this year, the City Council set the limit for vehicle registration numbers in the capital at 730,000. However, as of today, 785,000 vehicles are registered in Ulaanbaatar, exceeding the limit by 55,000. Therefore, new registration number criteria for vehicles in Ulaanbaatar were approved today. These criteria include limiting vehicles older than 10 years and requiring vehicles to have the steering wheel on the left. From November 8, new registration numbers will be limited in Ulaanbaatar. This is significant for implementing the project and measures to reduce congestion," he stated. Concerning vehicle registration numbers: - 3,642 will be sold by auction - The current unassigned or available number reserve is 4,784. Warning: Media organizations (Television, Radio, Social media, and Websites) must cite the source (ikon.mn) completely or partially when using our information.

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Society

Improve Internship Program and Increase Employment

Published: 2024-10-23 | Translated from: montsame.mn

Minister of Family, Labor, and Social Protection L. Enkh-Amgalan met with Matilda Dimovska, Resident Representative of the UN Development Programme, to implement a project to increase internship employment. The meeting was aligned with the government's 2024-2028 action program, and they exchanged views on jointly implementing a project to increase internship employment. Furthermore, it was mentioned multiple times that a paradox exists in the labor market where there is a shortage of labor on one hand and unemployment on the other. They discussed previous successful collaborations with the UN Development Programme in implementing projects in employment, cooperatives, vocational education, and employer support. The project aims to provide jobs for 7,500 citizens who have vocational education, part-time work experience, or are engaged in informal employment. It is planned to direct future projects towards target groups and improve the coordination between professional associations, part-time job exchanges, and skill-training courses to achieve results, according to the Ministry of Family, Labor, and Social Protection's information.

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A National Network Established to Focus on the Legal Environment and Equality for People with Disabilities

Published: 2024-10-23 | Translated from: isee.mn

A non-governmental organization called the "National Network" has been established to support social participation in protecting the interests of people with disabilities and to deliver governmental services promptly, in line with social needs. Emphasizing the inadequate legal environment and equality for people with disabilities, the network was established to operate on a national scale. The main goal of this network is to implement councils for people with disabilities at all levels of government service institutions to create a socially inclusive and equal environment. Additionally, under the initiative of the Minister for Family Development, L. Enkh-Amgalan, a campaign is being organized around eight topics. Activities planned include meetings and discussions for the International Day of Sign Languages, preventive examinations to protect against visual impairments, scientific conferences, and selecting the best of the year among people with disabilities. Regarding this, a member of the working group for the non-governmental organization, B. Mönkhkhishig, stated that there are over 111 thousand people with disabilities in our country. Although favorable legal conditions have been established, monitoring is weak, he noted.

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Environment

B. Battsatsatsog: Between 7,000 and 9,000 Environment Experts and Researchers Will Attend COP17 in Our Country

Published: 2024-10-23 | Translated from: ikon.mn

During today's meeting of the Standing Committee on Security and Foreign Policy, next year's budget was discussed. During this session, Member of Parliament E. Bolormaa inquired about the preparations for the 17th Conference of the Parties to the United Nations Convention to Combat Desertification, which will be held in our country in 2026. Member of Parliament E. Bolormaa said: "Our country will host the 17th Conference of the Parties to the United Nations Convention to Combat Desertification. Although 50 billion tugriks has been budgeted in the budget book for this conference's infrastructure, it is missing from the Ministry of Foreign Affairs' budget for the coming year. I would like to clarify this." Foreign Minister B. Battsatsatsog explained: "It has been decided that COP17, the 17th Conference of the Parties to the United Nations Convention to Combat Desertification, will be organized in Mongolia in 2026. The main work will be organized by the Ministry of Environment, and the Ministry of Foreign Affairs will act as a co-organizer. The initial amount of 50 billion tugriks has been included in the budget package of the Ministry of Environment. We will complete the preparations over three years. The UN conference organization team has visited and worked several times. This will be a conference with considerable expenses. During this time, between 7,000 and 9,000 environmental professionals, researchers, and scientists will come to Mongolia. Our ministry's budget includes an allocation of 22.8 billion tugriks related to this conference."

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Testing Drone Seed Dispersal for Environmental Restoration

Published: 2024-10-23 | Translated from: isee.mn

"Oyu Tolgoi" company has committed to planting 100 million trees by 2030 as part of the "Billion Trees" national movement. To achieve this, they have collaborated with Rio Tinto's Mine Closure and Environmental experts and partnered with the Australian startup "AirSeed Technologies." This company focuses on environmental restoration by dispersing seed capsules using drones. Over the past two years, pilot projects have been conducted. They initially tested the germination of native coniferous seeds in a greenhouse at the Institute of Biology located in Ulaanbaatar. Subsequently, a test site was established in the Yalbag Valley of Selenge Province, an area restored last year. In May 2023, a total of 750 seed capsules containing four types of native conifers and one type of birch were dispersed at the site. Observations in August 2023 and July 2024 showed that the seed capsules were germinating and stabilizing, indicating the potential of applying this technology in the "One Hundred Million Trees" program. The germination success and survival rate were influenced by the level of care. The "Oyu Tolgoi" company has successfully trialed this technology for the first time in Mongolia, demonstrating the potential for wider afforestation and restoration projects using drones to disperse seeds, as reported by the Forest Agency.

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Innovation

B. Telmen: "Munkh Insurance" Introduces Mongolia's First Cyber Risk Insurance

Published: 2024-10-23 | Translated from: ikon.mn

With the advancement of digital development, a new risk that has emerged is cybercrime. In Mongolia alone, there were 5,284 registered cyber crimes, 193 of which were crimes against cybersecurity. In response to this rapidly increasing global risk, "Munkh Insurance," a company with 20 years of continuous operation, is introducing a brand-new insurance product in Mongolia for the first time. It will be presented to the market during the Cyber Insurance Forum on the 24th of this month. We spoke with B. Telmen, the Director of the Insurance Department of "Munkh Insurance," about this. - In celebration of its 20th anniversary, "Munkh Insurance" is introducing risk insurance in Mongolia for the first time. Can you talk about the significance of this new insurance product? - Recently, one of the most common risks faced by organizations is cybercrime. Therefore, cyber risk insurance is highly significant in preventing external and internal attacks on organizations' digital information. We are organizing a "Cyber Insurance" forum tomorrow to introduce it to the public. This insurance will compensate for several primary risks. This includes the financial costs of recovering from cyber attacks, legal liabilities, including costs to restore reputation damage, and covering harm done to third parties. It protects against many risks. Detailing the compensation costs, these include business interruption and additional expenses, cyber extortion payments, attack response costs, data breach incidents, digital asset insurance, expenses related to third-party liabilities, regulation, and legal costs, and compensation preparation costs. - It seems very important insurance for organizations. How well do companies understand this? - In our country, major financial institutions have good information about this matter. However, medium-sized and small companies tend to have less understanding and information. However, cyber attacks do not only occur in developed countries and affect large organizations. It is common for attackers to target countries with weaker security and less information, such as Mongolia. In other words, the risk of attacks on business organizations in developing countries like Mongolia is high. If attacked, the recovery cost can be very high. Cyber risk insurance provides significant support in preventing large financial risks and is crucial for the smooth operation of a company. - Can you express in numbers how this risk is increasing internationally? What kind of financial risks should companies anticipate? - Cyber risk insurance has developed rapidly in the last 5-6 years, especially after the pandemic, where its demand sharply increased. Previously, it was a small category within insurance products, but now it has become a standalone product, with the market capacity increasing several times. For instance, it is estimated that by 2024, cyber risk-related losses will amount to 2.4 trillion USD globally. Cybercrime cases have increased by 600% since the pandemic. By 2025, worldwide cybercrime expenses are projected to reach 10 trillion USD per year. Detecting a cyber attack takes about 200 days on average. - Is this the first type of product introduced to the domestic insurance market? - Yes, "Munkh Insurance" is exclusively implementing the cyber risk insurance product. We are introducing it in collaboration with Marsh, a leading global insurance brokerage company. Along with this, we are also adopting their know-how and expertise locally. While it might seem like a simple financial product, it demands a lot of IT knowledge and information. Therefore, there is a need to prepare local specialists. The biggest advantage of working with a foreign company is gaining information advantages and operating quickly. This product needs to be continuously developed. Artificial intelligence is entering usage very powerfully. While it generates many benefits, one negative aspect is that anyone can now write a hacker program code, which increases the cyber risk we are discussing. Therefore, if we do not recruit and update information quickly with external specialists, it becomes a competitive field. "Munkh Insurance" is very happy to introduce this new product. Our domestic staff is also developing and improving significantly. - Cyber attacks pose many risks to companies. Investment is, of course, required to obtain insurance to cover these risks. Can you provide information on the financial requirements? - I recently held an online meeting with Marsh. During this, an equity firm was discussed to have been attacked briefly, but the total cost to restore its information security was over 520,000 USD. Meanwhile, the insurance premium to cover such a risk is about 50-60,000 USD. In other words, companies can be completely free from such financial difficulties by obtaining cyber risk insurance. This includes legal risks as well as IT risks. For example, if various personal information is obtained via a cyber attack and publicized, the organization would need to restore its reputation. Legal fines may also occur. This insurance product protects against all those risks and prevents financial difficulties. - To prevent the rapidly growing risk of cyber attacks, such speed and innovation are required. What would you advise companies in this regard? - Cyber risk is no longer distant; it has become very close. Especially for developing countries like Mongolia, considered targets by hackers. On the other hand, disrupting the normal operations of a company poses significant risks. The cost to restore it to normal can be very high. Therefore, companies should consider this insurance service not as an expense, but as a major investment. In Mongolia as well as internationally, one of the weaknesses of organizations is their reluctance to invest in the technology sector. Cyber risk insurance supports the organization's operations as a very beneficial investment, not an expense.

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The Imart Team Successfully Implements ISO 14001:2015 and ISO 45001:2018 Standards

Published: 2024-10-23 | Translated from: news.mn

Sky Hypermarket LLC has successfully implemented and received certification for ISO 14001:2015 and ISO 45001:2018 standards. As part of their efforts to enhance operations and lead in the industry, they began voluntarily implementing these international standards starting from January 1, 2024. This represents a significant step towards achieving their main goal of creating value for their employees, society, and country under the motto "Mongolian, Live to 100." This also reaffirms the organization’s commitment to ensuring the health and safety of its workforce.

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Golomt Bank Participates in the “Finacle Conclave-2024” Event

Published: 2024-10-23 | Translated from: news.mn

The "Finacle Conclave 2024" leadership event, organized annually by Infosys, a leading global provider of information technology and core banking systems, was held under the theme "Next-Gen Now: Shaping Banking’s Future." The event took place in Faro, Portugal, and brought together 375 representatives from about 100 organizations across more than 40 countries. Key participants included leaders, experts in the banking sector, and C-level executives from technological companies who gathered to explore the latest innovations in technology-driven banking and share best practices and insights on how to thrive in a rapidly evolving environment. The discussions focused on expanding digital transformation, creating flexible operations, integrating advanced solutions in cloud and artificial intelligence, transforming traditional banking systems, and enhancing customer engagement to drive revolutionary changes in the banking sector. Golomt Bank’s Chief Information Officer, M. Sainbileg, participated in the panel discussion "Building Resilient Banks: The Digital Operations Imperative." During the discussion, it was emphasized that banks must adapt not only in their products and services but also in their internal operations by leveraging digital technologies, particularly AI solutions and automation. This approach aims to increase productivity by enhancing employees' understanding and use of artificial intelligence. Participants also highlighted that digital banking is experiencing unprecedented rapid change, fueled by digital transactions, open banking, API integration, and the rapid growth of artificial intelligence. Alongside these advancements, attention must be paid to big data, cybersecurity, and customer privacy issues. The strategic necessity of ensuring uninterrupted digital operations, independent of population scale, was underscored as a key requirement for sustainable banking operations. Important elements for establishing a sustainable bank in the digital era were discussed, including next-generation digital banking platforms and how they are designed to be flexible and scalable. Golomt Bank was the first in Mongolia to implement the Finacle core banking system in 2014, enabling the provision of swift and reliable banking services that meet international standards to its customers.

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Health

The New Cancer Hospital Remains on Paper

Published: 2024-10-23 | Translated from: unuudur.mn

For many years, Mongolia has topped the world in terms of cancer mortality rates. This statistic reflects the current state of cancer care and services in the country. Outdated treatment methods, worn-out equipment, poor-quality medication, and insufficient facility space have contributed to this negative reputation. The most regrettable part is that cancer patients suffer the consequences for these deficiencies. However, the authorities seem indifferent and do not consider these individuals, which is quite ruthless. The only cancer hospital in the country is bursting at the seams, yet our politicians show no desire to expand or renew it. Over the past five years, they have misled the suffering public with promises to build a "new cancer hospital." The same promises have been presented during this election cycle as well. Isn’t it time to stop this charade? The public does not need such façades; they need a real cancer hospital. "The budget for the new cancer hospital is increasing every year," said Parliament Member Sh. Radnaased during discussions of the 2024 state budget draft. As of now, the design hasn't even been finalized, yet the paper budget has been increasing since 2020, which is puzzling. Specifically, in the spring of 2023, the construction cost for the hospital jumped from an initial claim of $90 million to $178 million during the state budget discussions in autumn. Moreover, back in 2020, when the tender for the design of the new cancer hospital was announced, the winning company allegedly received about 990 million tugriks and then "disappeared." The company, grandly named "Urban Planning Institute," has consumed around a billion tugriks under the guise of developing the design and feasibility study for the branch hospital of the National Cancer Center, yet they haven't finished the work to this day. Last autumn, they "demanded" an increase, making the total cost for developing the feasibility study and design project a staggering 3.3 billion tugriks. They claim the rework is due to discrepancies in the initially provided designs. The minister of the sector at that time even stated that the design job instructions were correctly provided with no changes during the initial tender announcement, to no avail. Due to the poor situation described above, a budget allocation for the new cancer hospital in the 2024 budget has not been appropriately made. Significant changes do not appear likely for the 2025 budget either. The reason cited is the lack of a design project. Specifically, the 2024 state budget included 140 billion tugriks for expanding and constructing health facility buildings, yet the construction budget for the new cancer hospital wasn't included. Health Minister S. Chinzorig stated, "The company selected to draft the design and feasibility for the new cancer hospital received about one billion tugriks, but without actual designs, we cannot allocate construction costs in the budget." Therefore, they worked with the Speaker of the Parliament and the MPP group to budget 10 billion tugriks, albeit reluctantly. Spending the equivalent of the cost to build a two-story, 240-bed kindergarten, solely on drafting plans for a single hospital, is nonsensical. Rather than holding "Urban Planning Institute" accountable for their failure, the authorities have been coddling the company all along. There are suspicions that this company might be linked to relatives of the leaders, not without reason. Last year, 7,244 people were diagnosed with cancer. Currently, 30,000 people are under medical supervision for this illness. Fifty percent of those diagnosed with cancer do not survive beyond five years. Year after year, 4,000-5,000 people continue to pass away and be newly diagnosed, as if trapped in a vicious cycle. While the situation has worsened for a long time, the sector minister and state authorities frivolously "play" at building a new hospital on paper while inflating the budget several times over. The director general of the National Cancer Center, N. Erdenehuu, once pleaded, "If we reach 600 beds at the cancer hospital, ongoing demands would barely be met. We need at least 5-6 radiation therapy machines. Unless a new facility is built, we will neither have room for additional beds and equipment nor be able to accommodate our personnel." Despite improvements in early cancer detection practices, the lack of adequate treatment and hospitalization facilities continues to claim lives. The budget has allocated 10 billion tugriks this year for preparing the hospital design and initial infrastructure. Construction of infrastructure is promised once the site has been determined, yet the year is drawing to a close again. Recent information shows that the hospital's design has still not been completed. Meanwhile, city mayor Kh. Nyambaatar provided some information regarding the situation before the local elections. He proclaimed, "We handed over 10 hectares to the nonprofit organization backed by Parliament Members J. Chinburen and L. Munkhbayasgalan. The land in front of the current Auto Trade Center was transferred under their organization's name. The location for the new cancer hospital along the foothills of Songino Khairkhan mountain and the bank of the Tuul River had long been determined." However, rumors have circulated that the site was changed due to water table issues at that location. Previously, the hospital was said to be built at the XI Khoroo of Bayanzurkh District, near "Sky Resort," but it was supposedly lost to private ownership. Kh. Nyambaatar further claimed that J. Chinburen and L. Munkhbayasgalan are pursuing the erection of this hospital through foreign loans and grants. "I will sort out the utility infrastructure," he boldly declared. The disgraceful announcements and actions of the authorities don’t end there. Health Minister T. Munkhsaikhan is promoting yet-to-be-finalized new cancer hospital projects, seeking investments overseas. On October 8th, he met with a delegation led by Waleed Shamlon Al-Bahar, acting director of the Kuwait Fund. During the meeting, he expressed gratitude to the Fund for building the branch of the National Trauma and Orthopaedic Center with irreversible aid and for equipping it with necessary devices. Additionally, the Minister expressed intent to collaborate on two projects with the Kuwait Fund. One involves a branch hospital of the National Cancer Center. He stated, "The hospital ground was ensured by the Ulaanbaatar City Governor's Office, designs and research work have been completed. However, financial constraints have prevented us from building it up to now." He even announced this visit on his ministry's official site. T. Munkhsaikhan added, "By 2040, cancer incidences could rise by 108% and mortality could double, as per early research results. Therefore, it is crucial to build the Cancer Department Hospital. We look forward to the financial support of the Kuwait Fund to achieve this." The other project concerns establishing the NCCD branch hospital, shamelessly asking for funding for both projects without any embarrassment. Instead of respectfully negotiating, they might as well ask them to build all crucial hospitals for birth and contagious diseases in the capital. Such is the reality of our situation. While there is talk of accelerating work on the cancer hospital project next year, the budget remains uncertain, and nothing is definite regarding the site decision.

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Today's Stories

Politics

Economy

Diplomacy

Infrastructure

Society

Environment

Innovation

Health

Politics

Decisions from the Government Meeting

Decisions Made at the Government Meeting

Decisions from the Government Meeting

Members, ministers, and leaders allegedly purchased airplane tickets with five billion MNT from the budget

Decisions from the Government Meeting

Decisions from the Government Meeting

The Regular Government Meeting is Taking Place

Economy

No Environment for Investment in Mongolia!!!

Digitization, Green Development, and Human Resource Transition to Boost the Economy

83 million tons of coal and 1.8 million tons of copper concentrate are planned for export next year

Accelerate Economic Growth through Digitalization, Green Development, and Human Resource Transition

Chinese EV Manufacturers Boost Exports to EU Ahead of New Tariffs

Accelerating Economic Growth through Digitalization, Green Development, and Human Resource Transition

J. Delgersaikhan: Rumors of electricity price increase have begun affecting the market and raising prices of consumer goods

Developing the Stock Exchange Will Attract Investment to the Private Sector and Expand Businesses

E. Batshugar: Development of the Stock Exchange Creates Opportunities for Private Sector Investment

Report: Dollar Exchange Rate has Increased by 35 MNT in Two Weeks

Development Bank: Inviting Companies and Individuals to Participate in Real Estate and Land Auctions

Diplomacy

Mongolia Needs to Approach the Global Division with More Strategy and Intelligence

The Australian Ambassador expressed interest in expanding cooperation in the mineral and mining sector

Declared Attention on Expanding the Mining Cooperation between Mongolia and Australia

The Embassy Warns Students and Citizens in China to Be Cautious with Money Transfers

Revenue from Stamp Duties of Diplomatic Missions Increased by 7.9 Billion

Speaker of the State Great Khural D. Amarbayasgalan Meets Australian Ambassador K. Smith

Representatives of France's Ministry for Europe and Foreign Affairs visit Mongolia

Russian attacks delay Gaza food aid shipment

Infrastructure

Agreement for Nuclear Power Plant Construction Near New Kharkhorum

M.Enkhtsetseg: The time has come to reform the energy sector, recognized and supported at all levels

Government Meeting Presentation on Energy Reform

Will Nuclear Energy Fill the Growing Energy Demand and Decline in Production?

Minister Ts. Tuvaan Addresses Issue of Determining Oil Product Company Reserves

The Number of Vehicles in the Capital Exceeds by 55 Thousand

The National Conference on Regional Development will be held this Saturday

"Petrovis" to Close Road for Repairs Tonight

National Conference on Regional Development to be Held

Orkhon: "Hybrid House" LLC is building an energy-efficient residential complex

Criteria for Issuing Vehicle Registration Numbers in Ulaanbaatar Starting November 8

T. Davaadalai: Ulaanbaatar City Will Restrict New Vehicle Registrations Starting November 8

Society

Improve Internship Program and Increase Employment

A National Network Established to Focus on the Legal Environment and Equality for People with Disabilities

Environment

B. Battsatsatsog: Between 7,000 and 9,000 Environment Experts and Researchers Will Attend COP17 in Our Country

Testing Drone Seed Dispersal for Environmental Restoration

Innovation

B. Telmen: "Munkh Insurance" Introduces Mongolia's First Cyber Risk Insurance

The Imart Team Successfully Implements ISO 14001:2015 and ISO 45001:2018 Standards

Golomt Bank Participates in the “Finacle Conclave-2024” Event

Health

The New Cancer Hospital Remains on Paper

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