Sep 25, 2024 74 min read Daily News Summaries

Mongolia News Summary for September 25, 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

Seizing Corrupt Officials' Assets or Mere Populism?

Published: 2024-09-24 | Translated from: isee.mn

If using people as political tools is called populism, then populists are said to "work on the public's desires." Simply put, a politician who draws public interest by promising anything to be reelected is considered a populist. According to some populists' promises, "people in the capital have been commuting by subway since 2017," "there would be no more ger districts by 2021," "the dollar rate would have fallen below 1,000 tugriks," and "justice would have been established." However, today, the smoke in the ger districts has reached a state of emergency, and the dollar rate has surpassed 3,000 tugriks. With almost 90% of export income coming from China, Mongolia's mining, politics, and infrastructure remain dependent on Russia, with some ready to flee their motherland. - MINISTER O. ALTANGEREL SHOWS AVAILABILITY IN FIGHTING CORRUPTION RATHER THAN ACTING - In the history of Mongolia’s Parliament, for the first time, the State Great Khural consists of 126 members, and many citizens expect this parliament to show a new appearance and solutions. One of these issues is unequal distribution and unfairness. Of course, this doesn't mean using this as an excuse to rob the private sector and bring everything under state control. In order to fight corruption and establish fairness, it's necessary to reduce budget expenses and trust private enterprises, akin to what Argentine President Javier Milei demonstrates globally. Simply put, if the government keeps producing 50% of GDP, announcing tenders, and making purchases as it is now, announcing "Operation 100 Sh" won't reduce corruption or establish justice in Mongolia. The Minister of Justice and Internal Affairs, O. Altangerel, seems to be continuing the line of certain populist politicians who have been around for 30 years, by making statements that provide no solutions or actions. Subsequently, a "title" has been put on his statement and circulated on social media. More specifically, Member of Parliament and Cabinet Minister O. Altangerel said in a statement, "I keep receiving one question repeatedly. Altangerel, will you implement your plan to seize corrupt officials' assets now that you've become a minister? I will, especially now that I'm a minister. Honestly, I study anti-corruption strategies, constantly thinking during the day and dreaming at night about punishing these corrupt individuals who have plundered the wealth of the Mongolian people for generations." - THE INTERNATIONAL CRIMINAL COURT MAY ISSUE AN ARREST WARRANT FOR S. BATBOLD - Numerous politicians, not just O. Altangerel, have declared the intention to "seize the illegal assets of corrupt individuals." For example, Prime Minister L. Oyun-Erdene mentioned this in March 2022 while introducing his "New Revival Policy" to Parliament. However, two years later, in March 2024, former Prime Minister S. Batbold was reported by U.S. authorities to have used "dirty" money to purchase two luxury apartments in Manhattan, which was covered by major global media like BBC and CNN, bringing Mongolian corruption to global attention. Meanwhile, the leadership of the Mongolian People's Party almost forgot about him except for not nominating him for the 2024 parliamentary elections. Intriguingly, the information disclosed that a company named Catrison, registered on behalf of Batbold's representative and without any history of mining activities, received $68 million as a reward for a large contract. The U.S. authorities determined that part of this money was used to purchase two apartments in Manhattan, and Batbold's actions have exploited public resources for personal gain, harming the justice-loving citizens he once led, said FBI Assistant Director James Smith. Consequently, he might face an arrest order from international courts. Instead of initiating his anti-corruption battle with such internationally scandalous cases, Minister of Justice O. Altangerel seems to be spreading populism about "seizing assets discussed for 30 years" on social media. Member of Parliament and Minister O. Altangerel's populism towards the public doesn’t end there. Shortly after becoming the Minister of Justice and Internal Affairs, he declared, "Since I took office, I've received many requests from friends, colleagues, political parties, and circles to become a boss or promote someone," making a video of this declaration and posting it on his Facebook page. On July 7, 2024, the National Council of the Democratic Party held a meeting where about 90% of the members supported joining a coalition government. Most members who spoke at the meeting expressed the view that "ordinary members of the Democratic Party have been struggling for eight years, so it's right to join the government and provide employment." Therefore, it’s probable some members asked ministers of the coalition government to "get them jobs." However, Minister O. Altangerel made such a statement public and spread it on social media. In summary, over the last two months, he has ignored job-seeking Democratic Party members and instead engaged in populism about asset seizure.

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Singaporean Citizen Loh Sien Chee Sentenced to Two Years in Mongolia for Alleged Trafficking and Abuse

Published: 2024-09-24 | Translated from: isee.mn

Loh Sien Chee, a citizen of Singapore accused of trafficking and abusing women, will serve a two-year prison sentence in Mongolia. The Mongolian courts have decided not to bring the case of Loh Sien Chee, a Singaporean national charged with using force against Mongolian citizens, to the supervisory stage of appeal. In June last year, the Mongolian Criminal Appeal Court upheld the initial sentence of two years imprisonment and dismissed the defendant's appeal and protest. Although Loh Sien Chee filed a complaint for the case to be heard in the supervisory court, the meeting to decide this was held yesterday at the Supreme Court, which refused to review the case at the supervisory level. In other words, Loh Sien Chee from Singapore will serve a two-year prison sentence for using force against Mongolian citizens to take advantage of their situation. Furthermore, Loh Sien Chee was associated with crimes under Articles 13.10 and 13.11.2.1 of the special part of the Criminal Code, namely "Illegally obtaining information protected by law" and "Disclosing legally protected personal information without consent using electronic networks".

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Minister Naranbayar's Policy and Decisions Spark Criticism

Published: 2024-09-24 | Translated from: itoim.mn

Protests, demands for dismissal, and requests are coming one after another concerning Minister of Education P. Naranbayar's policies and decisions. Sector organizations are highly critical of his decisions, describing them as "out of touch with the times, undeveloped, and unfit to be a minister," and remind him to take a realistic and grounded approach to sector issues. For example, the Union of Mongolian Teachers' Trade Unions announced that they would make a demand to Prime Minister L. Oyun-Erdene to hold Minister of Education P. Naranbayar accountable, dismiss him, and increase the salaries of sector teachers and staff. D. Munkhbaatar, Chairman of the Union of Mongolian Teachers' Trade Unions, stated that P. Naranbayar was not qualified to teach under both current and then-applicable laws and regulations. Since becoming a minister, he has stirred up many sector issues. At the Ministry of Education, he gathered the principals of schools from the capital and, under the guise of a meeting, urged support for the candidates of the People's Party running for the Capital City Council, turning the state ministry into an election campaign. He made very thoughtless statements regarding teacher salary issues. For example, he falsely claimed that teachers in Mongolia earn $1000 salaries, making rash actions. Recently, he made a decision by ministerial order to train course teachers, dividing society. Since becoming a minister, he has committed many illegal acts. The main burden of the education sector is in the capital. However, there is no increase for capital city teachers. Please resolve this issue. A shortage of teachers increasing geometrically will never be matched by arithmetic salary increases. We do not want more than 30 children taught per class. They uphold standards when changing broadsheets, but entering the education institution without standards is unacceptable. Reckless words and actions are being demonstrated. They are humiliating and insulting teachers in society, so the incompetent party minister should be removed. We are stating this harshly. Today, the Unified Committee of Trade Unions of the Mongolian Scientific Organizations delivered demands to Minister of Education P. Naranbayar, reminding him to behave responsibly in relation to the science sector. T. Bayasgalan, Chairman of the Unified Committee of Trade Unions of the Mongolian Scientific Organizations, expressed concerns that uninformed ministers seem to be trying to wash their hands using scientific institutes. He questioned whether they are trying to make Mongolia a brainless country, emphasizing that Mongolia does need science. Therefore, Minister of Education P. Naranbayar is being issued the following three demands: Firstly, to take a firm approach to the issues of the jurisdiction of institutes and their funding, and to focus on strengthening the unified policy, management, and financial consistency of Mongolia's science and technology. Secondly, to actively work to gather opinions from institute staff regarding the jurisdictional issues of university institutes, taking the specific characteristics and conditions of each institute into account, and to resolve the issues in detail. Thirdly, institutions such as the Livestock Research Institute, Veterinary Medicine Research Institute, Plant and Agricultural Research Institute, Plant Protection Research Institute, and the Institute of Medical Science are demanded to have their 2025 budgets included in the Economic Development Minister's package. It is stipulated that if no response to this demand is given and no necessary measures are taken, further protest measures will be undertaken. For example, a protest and sit-in is planned starting October 1. The Mongolian Education and Science Trade Unions Federation is working in unison. A minister is supposed to be a prepared individual who takes the position, not someone who is trained on the job. The country cannot be messed up like this. Measure seven times, cut once, but it seems they measure once and cut seven times.

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Monitoring Government's Proposed Program and Offering Effective Solutions

Published: 2024-09-24 | Translated from: ikon.mn

In connection with the upcoming session of the State Great Khural, the National Coalition held a press conference today to explain its future policies and principles. The National Coalition will act as the opposition for the next four years to protect the interests of citizens, private sectors, and businesses. They also stated that they would monitor the Government's proposed four-year action program, offer effective solutions, and proactively engage. Member of Parliament and leader of the National Coalition, N. Nomtoibayar, said, "We will not engage in empty 'populist' politics without considering the potential social and economic damages caused by any political actions. We will lead based on recommendations provided by professional organizations." There are several specific conditions causing significant financial pressure on citizens and businesses. Firstly, the economic system has continued on a communist foundation until now, with many state-owned enterprises, 40-60% of which operate at a loss. Therefore, the National Coalition will soon initiate a public discussion on the policy document regarding the future of state-owned enterprises. Secondly, there are approximately 300,000 citizens receiving a salary from the budget. These public officials receive a significant portion of the annual budget, resulting in a lot of inefficient overhead expenses, leaving no opportunity to expand the economy. As part of our guiding principle, we are collaborating with professional auditors to assess the state budget for 2025. Preliminary findings show expenses exceeding centralized income have been planned. The more the Government overspends, the more inflation occurs. The three ruling parties are discussing issuing bonds and taking loans from abroad. Yet, there is no sound policy to support substantial socio-economic growth.

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Economy

B.Amgalaa: Fitch Highlighted that a Major Factor in Upgrading the Development Bank's Credit Rating to B+ was the Repayment of 3.1 Trillion MNT

Published: 2024-09-24 | Translated from: montsame.mn

Today, the international rating agency Fitch held the "Fitch on Mongolia" forum in Mongolia. B. Amgalaa, the First Deputy Director of the Development Bank of Mongolia, participated as a guest speaker and discussed the current state and future prospects of the Development Bank and the banking sector. The forum aimed to discuss in-depth issues such as the condition of Mongolia's economy and financial sector, environmental, social, and governance strategies, as well as ways to manage capital markets, market risks, and opportunities. It included representatives from the Development Bank, other banks, financial institutions, and the international financial sector. Fitch, one of the major international credit rating agencies, has been evaluating the credit rating of the Development Bank since 2018. Recently, the agency announced Mongolia's long-term credit rating assessment, which involved upgrading the Development Bank’s long-term credit rating to B+, matching the government's credit rating. The agency highlighted key factors influencing this achievement. A notable aspect was the repayment of 3.1 trillion MNT raised internationally, executed using the Development Bank's own resources without burdening the state budget. Specifically, the Eurobond of 500 million USD and the "Samurai" bond of 30 billion yen guaranteed by the government were successfully repaid on time with its own funds. The Development Bank plays a crucial role as the sole policy bank that finances projects and programs in priority sectors to ensure sustainable growth of the national economy, while supplying capital necessary for import substitution and export revenue growth. It is fully owned by the Government of Mongolia. Mongolia is forecasted to become one of the fastest-growing economies in the world in 2024, with the country's real GDP growth anticipated to average six percent annually from 2024 to 2026. This growth is attributed to the strong increase in exports of coal, copper, and other minerals. However, factors such as foreign financing, high dependency on exports to a single country, and significant external debt are negatively impacting the ratings, as noted by parties during the forum.

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Fitch Raises Khan Bank's Credit Rating to B+

Published: 2024-09-24 | Translated from: ikon.mn

The Fitch agency improved Khan Bank's credit rating by one notch to B+ with a stable outlook, affirming the improvement in the operating environment and good financial indicators. Fitch highlighted that the bank's leading market position, superior profitability, consistent quality of its loan portfolio, and stable capital adequacy were key factors in the upgrade. This evaluation followed Fitch's reassessment of Mongolia's credit rating, upgrading it to B+ with a stable outlook.

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B.Javkhlan: 60% of Budget Expenses Increased Due to Changes in Sector Laws

Published: 2024-09-24 | Translated from: itoim.mn

We discussed the 2025 budget proposal with Finance Minister B. Javkhlan. The Parliament approved the budget revision for this year and submitted the new budget proposal for next year. We see expenses are increasing significantly. Why is this? The budget has been expanding in recent years. Looking at the past 20 years, there hasn't been a year when the budget shrank. This is directly related to population and economic growth. The GDP was 36 trillion MNT in 2019 before Covid. Next year, it will be 94 or 95 trillion MNT. In other words, the economic base is expanding 3.2 times. Government services also expand accordingly. However, it is important to distinguish whether this growth is mechanical. There are many reasons for budget expansion. First, changes to sector laws lead to mechanical growth. For example, changes to the Education Package Law, Social Welfare, Health Package Laws, and alterations to funds cause mechanical growth. There was also a major change in the social insurance sector last year. The pension, which was based on a seven-year average, is now based on five years. The plan was to make the social insurance sector independent in the medium to long term, but subsidies from the budget to the Social Insurance Fund are increasing. From this year, 2% of the fund will be kept separately, increasing the subsidies from the budget. In just one year, more than 2 trillion MNT will be added to the subsidy given to the Social Insurance Fund. Furthermore, changes in the Civil Service Law necessitate salary and pension adjustments according to inflation each year. The Central Bank forecasts inflation around six percent next year. Therefore, salaries and pensions will increase by about six percent. Additionally, from next year, 2% reserves will be created from the base balance to repay foreign debts annually as per legal changes. Thus, budget expenses are increasing due to these factors. It's not that base expenses and social welfare are expanding; 60% of the budget expenses increased due to changes in sector laws. According to the Resources Fund Law, 2% of the proceeds from resources are to be used for social security savings, housing, and healthcare. How much financing is planned for this next year? Our country started forming reserves for the Resources Fund this year. It will continue next year. In early years, there is a focus on housing programs, which have the most demand from the public. It is legally mandated to allocate funds for housing, healthcare, and education. This year, 500 billion MNT has been accumulated. Next year, there is an expectation to accumulate one trillion MNT into the Resources Fund. The government announced 14 major projects to start next year but cannot finance these with the state budget alone. Foreign investment will be necessary to bring in foreign currency to implement these projects. How many of these projects will be financed by the state budget, and what is the budget for them? The state budget alone cannot finance the 14 mega projects. They require foreign investment and foreign currency. Some projects that the state needs to build itself include constructing government single-service facilities in Khushig Valley. Other projects will be facilitated through public-private partnerships, foreign investments, and other foreign currency sources. Some of the projects have feasibility studies ready, while others do not. Therefore, it's a bit early to specify the total cost of these projects. The first budget after regional elections is about to be passed. How was the regional investment allocated? We talk about regional development and reforms. To develop regionally, we first need to build basic infrastructure. This will increase the competitiveness of each region. After that, investment within the region will be prioritized. The characteristic of the 2025 budget is to continue funding all ongoing projects in all sectors. Almost 3000 projects will continue next year. New projects in 2025 will focus on developing infrastructure to increase competitiveness in regional development and ongoing projects. Specifically, the aim is to boldly start energy, road transport, and logistics projects. Initial funding for three major hospitals was provided this year. Will this funding continue next year? When is it expected to be operational? All will continue. We made significant changes to the Budget Law in 2023. No project should exceed three years by law. Therefore, any project's funding will be spread over three years. For example, the organ transplant hospital project has a budget of 150 billion MNT. It will be completed in three years, with 50 billion MNT allocated this year. We were concerned that no national company would come forward to handle it, but a national company was selected, and the purchase agreement was finalized. The government announced that mortgage program financing has increased with the implementation of the Resources Fund Law. However, in reality, mortgage lending has stopped due to lack of financing; people wait 2-3 years to get a loan, and even with 30% upfront payments, they cannot get loans. Will the government address this? What policy will be followed? We need to review this correctly. Market issues depend on three factors: purchasing power, supply, and price. Mortgage program financing hasn't been low in recent years. In 2024, 800 billion MNT loans were given. On the other hand, there is demand. The state should more responsibly engage on the supply side. State employees' purchasing power has significantly improved, increasing demand accordingly. The state will support supply through the Resources Fund. However, the market capacity needs monitoring; otherwise, construction prices could rise unpredictably. The Central Bank has actively participated in this program and will likely continue. The funding source from the Resources Fund is additional financing. Budget support for the mortgage program had ended earlier. There was a plan to export 70 million tonnes of coal this year. Will this number increase next year? Our main buyer, China, has expressed its willingness to buy as much as we bring. The main issue is how much we can extract, transport, and cross the border. Price expectations are around $120 per tonne at the border. In terms of volume, the expectation is to export 80 million tonnes. Thank you for the conversation.

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The B+ Upgrade of the Development Bank of Mongolia's Credit Rating Influenced by ₮3.1 Trillion Repayment

Published: 2024-09-24 | Translated from: news.mn

The international rating agency Fitch organized the "Fitch on Mongolia" forum in Mongolia yesterday. B. Amgalan, the First Deputy Director of the Development Bank of Mongolia, participated in the forum as a guest speaker and discussed the current state and future prospects of the Development Bank and the banking sector. The forum aimed to discuss detailed issues such as the economic and financial sector's condition in Mongolia, environmental, social, and governance (ESG) strategies, as well as ways to manage risks and opportunities in the capital market. Representatives from the Development Bank and other banking, financial, insurance, and international financial sectors attended the forum. Fitch, one of the major international credit rating agencies, has been rating the Development Bank of Mongolia since 2018. The agency presented Mongolia's long-term credit rating evaluation last week. In doing so, it upgraded the long-term credit rating of the Development Bank to B+, aligning it with the Government's credit rating level. The agency highlighted that the following factors played a crucial role in reaching this level: MNT 3.1 trillion repayment from internationally sourced funds was executed without imposing a burden on the state budget, using the Development Bank's own resources. Specifically, it successfully repaid a $500 million Eurobond and a 30 billion yen Samurai bond guaranteed by the Government, on time using its own funds. The Development Bank is the only policy bank that plays a crucial role in providing financial resources necessary for projects and programs that ensure the sustainable growth of the national economy, replace imports, and develop production that increases export revenue. The Government of Mongolia is the 100% shareholder. It is anticipated that Mongolia will be one of the fastest-growing economies in the world in 2024 and that the real GDP growth of our country will reach an average of 6% in 2024-2026. This is linked to the rapid increase in the export of coal, copper, and other minerals. However, during the forum, parties pointed out that foreign financing, high dependency on exports to a single country, and significant foreign debt are factors negatively affecting the evaluation.

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"No Evidence of 8% Economic Growth Projection Outside of Budget Plan"

Published: 2024-09-24 | Translated from: news.mn

The Mongolian government's projection of an 8% economic growth is only mentioned in the proposed budget plan, and not elsewhere. The government of Mongolia submitted to the State Great Khural a draft amendment to the "State's Budget Policy for 2025 and Budget Framework Statement for 2026-2027." The Budget Stability Council provided an assessment of this draft. We spoke with N. Uuganbaatar, a member of the Budget Stability Council, regarding budget issues. -The government has submitted the 2025 budget to the Parliament. What is the Budget Stability Council's assessment of whether the budget for the coming year complies with relevant laws and regulations? -The Budget Stability Council must deliver its assessment and recommendations by September 20. The first principle of the Budget Law is that it must comply with special budget requirements. It should also align with the Budget Framework Statement. There are established principles for budget formulation under the Budget Law, which must be taken into account. For instance, ensuring economic security and compliance with economic development are broad stipulations. Unfortunately, assessing these broad stipulations is not simple. Thorough analysis is needed to evaluate whether the budget aligns with national security. Conducting such an analysis in a short period is challenging. However, checking if the budget meets the four special requirements is relatively easy since these requirements are quantified. For instance, on the expenditure side, recent amendments stipulate that current expenses must not exceed 30% of GDP. Secondly, there is an issue related to government debt. Previously, government debt was calculated at present value, which has now changed to nominal value. When calculated at nominal value, the total debt should not exceed 60% of GDP. Thirdly, a new concept of baseline balance has been introduced. Baseline balance refers to subtracting foundational expenses from balanced income. Foundational expenses are calculated by excluding parts financed by foreign loans and government debt instruments from total expenses. This amount is deducted from balanced income to yield the baseline balance. This is a new concept not widely seen internationally. The stipulation is that the percentage of balanced income should result in a +2% surplus. Finally, under the operational guidelines of the Budget Stability Law, there is a provision that the adjusted deficit percentage of GDP should not exceed -2%. Essentially, there are provisions related to debt, expenditure balance, and income-expenditure balance. In summary, the 2025 budget submitted by the government has been preliminarily assessed to meet these specific requirements. Drawing such a conclusion is a matter of estimation, and if the numbers are correctly set, these specific requirements can be preliminarily met. The main issue is whether these can be fulfilled in actual execution. -The budget is expanding rapidly. About a month ago, the annual budget expanded from 27 trillion to 30.4 trillion MNT, and next year's revenue is projected to reach 35 trillion MNT. Considering Mongolia's economic growth and export rates, is the budget based on realistic calculations and research? -Two issues arise. We tend to talk the most about our successful sectors, which is why the government focuses intensely on export income figures. However, we must view the situation realistically. The cornerstone of the 2025 budget projection is the expected performance of the 2024 GDP at 79 trillion MNT, with the projection being 95 trillion MNT in 2025. Essentially, this is a 20% growth prediction. Yet the real economic growth is projected to be 8%, with inflation estimated at 7.5%. The expectation of increasing GDP by 20% while projecting economic growth at 8% is comparatively high. Previously, achieving 7% economic growth in Mongolia was considered a success. Estimates now suggest that the growth might decrease to 5.6-6% from the current year's 7% growth. Expectations for future economic conditions from organizations like the World Bank and the Asian Development Bank and related research institutions do not support an 8% growth projection. Projections generally calculate growth between 6-7%. In other words, the only place planning for an 8% economic growth is found is within the government's submitted budget proposal. When verifying whether such growth is realistic, it is mentioned that the increased copper output from the Oyu Tolgoi mine is expected to raise nominal income by about 1 trillion MNT, equaling 1% of GDP or 1% of 95 trillion MNT. However, this figure remains questionable. -Turning to actual circumstances, the reality shows poor planning with good execution. Despite good budget execution, doubts remain about whether the initial budget planning was proper, given that amendments are made annually as a reflection of errors. -For instance, examining the budget execution for 2023-2024 shows good execution over the last two years. Good execution means earning more revenue and spending less than planned. The resulting surplus thus merits calling the budget profitable, whether good or bad. In any case, a profitable budget, rather than one in deficit, is a positive indicator. Yet, in a healthy economic system, income and expenditure matching precisely is seen as proper. In other words, if good planning and forecasting are made and then matched by effective execution, it becomes the basis for considering a system stable and effective. Looking at the actual situation, it is true that planning is poor while execution is good. Why is planning not good? Because every year, additional and amended changes are enacted in the budget, revealing planning errors from the start. Throughout the past, amendments were made to budget planning, which makes us foresee similar alterations to the 2025 budget. This is because the projected income for next year is seen as overly optimistic. -The assessment by the Budget Stability Council mentioned that although the rising prices of copper and coal were considered, increases in the prices of other goods were not precisely accounted for. Hence, is your assertion that revenue estimation is vague in the budget? -The issues relating to the price forecast of major raw materials are stipulated among the specific budget requirements to be calculated in a balanced manner. In other words, the estimation of commodity prices cannot be overly optimistic, as it creates room for budget expansion. To avoid it, there are two ways of calculating revenue: nominal and balanced. Nominal is calculated with raw material prices at their market forecasts, while balanced income considers what the budget income would be if commodity prices were at their ten-year average. Discrepancies between balanced and nominal income are to be allocated towards stabilization and reserve funds according to principles. -The general intent here is preparation for rainy days during sunny days. Therefore, when performing calculations, a realistic market price forecast should be applied to key raw materials. For example, the budget amendment considered selling coal at over 160 USD per ton, while the current real price is around 115 USD. The ongoing concern is that nominal income estimation for main raw materials, especially coal, is often set high. However, due to methodological constraints, balanced revenue based on averages provides a realistic estimation. Although nominal revenues for the government are forecast high, budget revenue often exceeds expectations due to increasing physical export volumes of primary commodities. Even though prices have dropped, this measure mitigated price shortfall. Over the past few years, the growth of physical export volume of products has been commendably high. There are further plans to continue this growth rate. It is under the full power of the government, but as prices decrease, simple economic understanding dictates increasing supply results in further price declines. -By setting high revenue expectations, increasing the supply of the only resource to match targets might not be economically beneficial. The Budget Framework Statement includes mentions of coal and copper, but misses predictions for gold and iron ore, with market forecasts for 2025 mentioned albeit without extended predictions compliant with practices. The fiscal stability law explains "inconsistency" due to regular budget amendments lessening the impact of the Framework Statement, mainly reducing it to a relevant formality. -According to the general principles of the Budget Stability Law, surpluses should be calculated and passed first before passing the fiscal budget. Fiscal policy estimation is what realistically predicts income in future years. Households, businesses, and countries should reliably estimate incoming revenue before focusing on how that revenue will be spent subsequently. Modern budget logic revolves around this principle. Legally in Mongolia, this logic may be acknowledged, yet practices deviate. The ability to alter fiscal boundaries at will and submit them together with the budget proposal is apparent. For 2025, numbers from the fiscal estimates are copied directly onto the budget limits, except for a slight discrepancy in remaining debt. The statement of fiscal boundaries is akin to reconciling unlimited wants with limited resources. Real income and expenses need calculating first before determining how allocation proceeds. On June 15, the Budget Framework Statement for 2025 was approved, while amendments are ongoing. Amending the law and submitting budget amendments urgently is within the authority of Parliament, hence requiring Parliament to self-monitor to ensure responsible function. -In times of both abundance or deprivation, one should handle money carefully. -Concerning amendments to the Budget Stability Law, your position was fundamentally dissenting, correct? -This is a healthy systemic debate. Observing a half-full glass from distinct frames is not inherently interesting. Realistic and constructive debate should prevail. Thousands upon thousands argue over the accuracy of measures in estimating fiscal oversight responsibility. It is crucial to understand this responsibility and mutually respect roles. The Ministry of Finance notably worked well on budget execution over the past two years. -The ministry continued to improve, producing further enhancements, adhering to proper laws and procedures, realizing the need to refrain from submitting legislation simultaneously under expedited procedures. Urgency in this financial context can be dangerous. -Across state operations or personal management, handling finances carefully is imperative in two cases: in conditions of scarcity or abundance. One might borrow anything during scarcity. Conversely, freely using excess money typically coincides with recklessness. Thus, extraordinary caution is required in both scarcer and significant monetary conditions. -The understanding of Budget Stability Council as an anti-development body has been fostered before. A correction of this misconception is hoped. Authorities should grasp distinct roles comprehensively and jointly pursue the national collective interest. Mongolian citizens must comprehend the country's economic direction realistically and gain foundational awareness of budget and finance. Critical questions arise, whether sustained by taxpayer support or self-support. Any assertion of state-fueled development fails because of enduring fiscal crisis evidence. The goal must embrace massive development projects despite seeming aspirations for budget sustainability. Substantially controversial proposals emerged suggesting legal amendments targeting special budget requirements necessary for future bold projects. Navigating traffic recognizes limits; similar road constraints effectively ensure safe movement. We've endorsed this view, on adjusting legal constraints. Doubling speed limits on high roads raises legitimate safety concerns otherwise unaccounted for, particularly governing public safety. -Supporting structural changes did not sway original positions so far, given first experiences anchoring dominant practice in middle-income countries. Government's prior debt awareness reflected tactical prudence thereby checking forecast income inflation. Past structured oversight commonly recognized debt-ceiling proportions indicated within 60%. Nonetheless, debating future plans must consider statistical error margins while legal limits remained bound by existing indicators. Ulaanbaatar achieved middle-income status, ranking newly within higher brackets. Whether Mongolia confronted new external pressures against a backdrop of debt reckoning echoed subjective fiscal graces throughout 2024's resolutions. Arguably, marginalized countries incrementally graduated statuses warrant substantial surveillance. 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B. Javkhlan: 60% of Budget Expenditure Increase Due to Changes in Sectoral Laws

Published: 2024-09-24 | Translated from: itoim.mn

We spoke with Finance Minister B. Javkhlan about the 2025 budget proposal. - The Parliament has approved this year's budget amendment and has submitted next year's budget proposal to Parliament. From this, it is apparent that budget expenditure is increasing significantly. What is the reason for this? - The budget has been expanding to some extent in recent years. Generally, when looking at the fiscal indicators of the last 20 years, there hasn't been a year where the budget contracted. This is directly related to population growth and economic growth. In 2019, the year before COVID, the GDP was 36 trillion. Next year, it will be 94-95 trillion. In other words, the economic base is expanding 3.2 times. Public services also expand along with this. It is necessary to distinguish whether this growth is mechanical or not. There are many reasons for budget expansion. First, the growth is mechanical following changes in various sectoral laws. For instance, changes to the package of Education laws, Social Welfare, Health package laws, and changes in funds lead to mechanical growth. Also, significant changes were made last year in the social insurance sector. The pension calculation, which was based on a seven-year average, was changed to a five-year average. While there was a medium and long-term plan to make the social insurance sector self-sustaining, now, the subsidy from the budget to the Social Insurance Fund (NDS) is further increasing. From this year, two percent will be retained separately. This increases the budget subsidy by that extent. Just within one year, the budget subsidy to the NDS has increased by over two trillion tugriks. Additionally, due to changes in the State Service Law, it was legislated that salaries and pensions will be increased in line with the price increase of that year. The Central Bank's inflation forecast for next year is around six percent. Therefore, next year, salaries and pensions will increase by about six percent. Moreover, a legislative change was made that from next year, an additional two percent reserve will be built from the primary balance, and it will be used annually to pay off foreign loan principal. In this manner, budget expenditure is increasing. The basic expenditures and social welfare are not expanding. 60% of the budget expenditure increase is due to the impact of changes in sectoral laws. - According to the Wealth Fund law, two percent of the proceeds from wealth is to be spent on social insurance accumulation, housing, and health. How much funding is planned for this next year? - From this year, our country has started creating Wealth Fund accumulations. It will continue next year. In the initial years, we will focus most on the housing program, which has the highest demand and expectation among the public. The law obligates allocation to housing, health, and education. This year, 500 billion tugriks were accumulated. Next year, there is an expectation to increase the Wealth Fund by one trillion. It is not possible for Mongolia's budget to independently finance the 14 mega projects. Therefore, by bringing in foreign investment or foreign currency, these works can be carried out. The government announced that it will start 14 large projects next year. How many of these projects will be financed with state budget funds? How much financing is allocated for them? - It is not possible for Mongolia's budget to independently finance the 14 mega projects. Therefore, it is possible to carry them out with foreign investment or by bringing in foreign currency. If we were to convert the little tugrik we have in the budget to foreign currency and take it abroad, it would not be feasible. However, there are projects that the state itself must build. For example, the government must build its single-service centers in Khushig Valley. Meanwhile, opportunities will be created to implement other projects through public-private partnerships, foreign investment, and other foreign currency sources. Some projects' feasibility studies are ready, while some are not yet ready. Therefore, it is a bit early to state the total sum of these projects now. - You are about to approve the first budget after conducting regional elections. How is the regional investment set? - We are talking about the new regional development reform and regional development. To develop regionally, we must first build basic infrastructure. By doing so, the competitiveness of each region will increase. After that, investment in the regions will be prioritized. Therefore, the characteristic of the 2025 budget is to continue financing all ongoing projects in every sector. There will be nearly 3,000 projects continuing next year. In 2025, new projects will be started with a focus on regional development and to enhance the competitiveness of ongoing projects. Specifically, we plan to boldly start new projects in energy, road transport, and transport logistics. - This year, the initial financing for three major hospitals was approved. Will the financing for these projects continue next year? When is it planned to be commissioned? - All will continue. We made significant changes to the Budget Law in 2023. It was legislated that no project should exceed three years. Therefore, the financing for any project will be allocated over three years. For example, the Organ and Tissue Transplant Hospital project has a budget of 150 billion tugriks. It will be implemented over three years, with 50 billion tugriks financed this year. We were concerned that no national company would be willing to undertake it, but a national company was selected, and procurement activities and contracts are completed. - With the implementation of the Wealth Fund law, housing loan program financing has increased, the government announced. However, in reality, the mortgage loan has stopped due to a lack of financing, citizens have to wait 2-3 years to qualify for a loan, and people can't qualify for a loan even by paying 30% in advance. Will the government resolve this? - We need to assess and understand this correctly. Any market issue depends on three aspects. First, purchasing power. Then, supply, and price. The financing of the mortgage program in recent years was not small. By 2024, 800 billion tugriks in loans were issued. On the other hand, demand is there. The government must be more responsible on the supply side. The purchasing power of civil servants has significantly improved compared to before. Consequently, demand has increased. The government will adopt policies to support supply through the Wealth Fund. However, if we do not properly balance based on the market's capacity next year, it will be dangerous if construction prices arbitrarily increase. The Bank of Mongolia has actively participated in this program and will continue to do so. The sources from the Wealth Fund are additional financing. The government stopped supplementing the budget to finance the mortgage program long ago. - It is planned to export 70 million tons of coal this year. Will this number increase next year? - Our main buyer, China, expressed its readiness to buy as much as we can bring. The main thing is that we can dig, transport, and clear customs for as much as we can. The price is estimated to be about 120 USD at the border. In terms of volume, it is estimated to export 80 million tons. - Thank you for the interview.

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B. Javkhlan: 60% of Budget Expenditure Increase Due to Amendments in Sectoral Laws

Published: 2024-09-24 | Translated from: itoim.mn

We spoke with Finance Minister B. Javkhlan about the 2025 budget proposal. - The Parliament has approved the budget amendment for this year and the proposal for next year's budget has been submitted to the Parliament. It seems budget spending is increasing significantly. What is causing this? - The budget has been expanding to some extent in recent years. Looking at the budgetary indicators of the last 20 years, there has not been a single year when it contracted. This is directly related to population and economic growth. In 2019, the year before COVID, GDP was MNT 36 trillion. Next year, it will be MNT 94-95 trillion. In other words, the economic base is expanding by 3.2 times. Government services expand accordingly. However, it is necessary to distinguish whether this growth is mechanical or not. There are many reasons for the budget to expand. Firstly, changes made to various sectoral laws mechanically increase the budget. For example, changes in the Educational package law, Social welfare, Health package laws, and alterations in funds mechanically increase the budget. Additionally, there were significant changes in the social insurance sector last year, such as changing the pension calculation from a seven-year average to a five-year average. Even though there is a mid- to long-term plan for the independence of the Social Insurance Fund, government subsidies to the Social Insurance Fund continue to increase. From this year, two percent will be saved separately, thus increasing the subsidy from the budget by that amount. Within just one year, the budget subsidy to the Social Insurance Fund has increased by over MNT 2 trillion. In addition, due to changes in the Civil Service Law, it has been stipulated that salaries and pensions should be adjusted according to the inflation rate of that year. The Central Bank projects inflation of about six percent next year. Therefore, salaries and pensions will increase by about six percent next year. Moreover, from next year, we will build a two percent reserve from the basic balance to pay off foreign loans’ principal each year, according to legal amendments. In these ways, budget expenditure is increasing. It's not due to base expenses or the expansion of social welfare. Sixty percent of the budget expenditure increase is due to amendments in sectoral laws. - The Wealth Fund law stipulates that two percent from the wealth revenue goes to social insurance savings, housing, and health. How much financing is planned for this next year? - Our country began building the Wealth Fund accumulations from this year and it will continue next year. In the initial years, priority will be given to those programs with the highest demand and expectation, such as housing programs. There is a legal obligation to allocate funds for housing, health, and education. This year, MNT 500 billion was accumulated. Next year, it is expected that up to MNT 1 trillion could be accumulated in the Wealth Fund. The state budget cannot single-handedly finance all 14 mega projects, so they need to be carried out with foreign investment or currency brought from abroad. The government has announced plans to start 14 major projects next year. Which of these projects will be financed by the state budget, and what amount of funding is allocated for this? - The state budget cannot single-handedly finance all 14 mega projects, so they need to be carried out with foreign investment or external currency. If the small money in the budget is converted to foreign currency and used for these, it won't suffice. However, the state must build certain projects itself, such as the government service centers in Khöshig Valley. The rest of the projects should be facilitated through public-private partnerships, foreign investment, and other external currency sources. Some of the projects have their feasibility studies completed, while others do not. Therefore, it is too early to say the total amount for these projects now. - The first budget will be passed following regional elections. How are regional investments placed? - We are talking about regional development and the reform of regional development. To develop regionally, we must first build basic infrastructures, which will increase competitiveness by region. After that, investments within the regions will be prioritized. The 2025 budget aims to continue financing started projects across all sectors. About 3,000 projects will continue next year. For projects starting in 2025, regional development and the continuation of existing projects to increase competitiveness through infrastructure are emphasized. Specifically, bold starts of energy, road transport, and logistics projects are planned. - The initial financing for three major hospitals was allocated this year. Will the funding for these projects continue next year? When are they planned to be operational? - All projects will continue. In 2023, significant changes were made in the Budget Law, stipulating that no project can exceed three years. Thus, the financing of any project is spread over three years. For example, the organ transplantation hospital project has a budget of MNT 150 billion, with MNT 50 billion allocated this year for a three-year completion plan. There was concern that no national company would take on this project, but a national company won the tender, and the contract has been signed. - With the implementation of the Wealth Fund law, the government announced increased financing for the mortgage program. However, in reality, due to lack of financing, mortgage lending has stopped, with people waiting 2-3 years after applying, and not being able to get loans even after paying the 30% down payment. Will the government address this, and what policies will be followed? - We need to see this clearly. Any market issue is affected by three factors: purchasing power, supply, and price. The mortgage program financing has not been small in recent years. By 2024, loans amounted to about MNT 800 billion. On the other hand, there is demand. The government should responsibly participate more on the supply side. Civil servants' purchasing power has significantly improved, leading to increased demand. The state will support supply through the Wealth Fund, but next year the market capacity should be carefully considered to prevent any dangerous increase in construction costs. The Mongol Bank has actively participated in this program and will continue to do so. Additional funding from the Wealth Fund is not to further finance the mortgage program beyond what the budget already covers, as it was halted long ago. - It was planned to export 70 million tons of coal this year. Will this number increase next year? - Our main buyer, China, has stated how much it can purchase, but the key is how much we can mine, transport, and export. The border price is estimated to be around USD 120. In physical volume, it is expected to export around 80 million tons. - Thank you for the interview.

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Diplomacy

A New US Diplomatic Facility to be Built in Khan-Uul District

Published: 2024-09-24 | Translated from: ikon.mn

Based on a decree (A/364) of the Mayor of Ulaanbaatar in 2021, an area of 39,967 square meters in the 18th subdistrict of Khan-Uul District has been allocated for the use of the United States diplomatic mission, with a 60-year lease agreement. A contract has been established with the "Diplomatic Services Operation Center" under a public-private partnership, with the certification already issued. During discussions about the new water drainage network for the to-be-constructed US diplomatic premises, representatives from the US Bureau of Overseas Buildings Operations (OBO) exchanged ideas with the mayor regarding this matter. The mayor stated, "It is planned to implement the water drainage system for the new US diplomatic mission in the 18th subdistrict of Khan-Uul District. We wish to ensure safety during this project and collaborate with the national and city authorities on construction efforts." Additionally, this year marks the 37th anniversary of the establishment of diplomatic relations between Mongolia and the United States. Also notable is the sister-city relationship established 23 years ago between Ulaanbaatar and Denver. Consequently, on April 20, 2006, a decree by the leadership of the Ulaanbaatar City Council named the street from Ikh Toiruu down the western bank of the Selbe River to Beijing Street as "Denver Street."

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Emphasis on the Rapid Development of Mongolia-China Relations in All Sectors

Published: 2024-09-24 | Translated from: montsame.mn

Ulaanbaatar – The China Studies branch of the Institute of International Studies of the Mongolian Academy of Sciences organized a scientific conference at the Ministry of Foreign Affairs today on the occasion of the 10th anniversary of the establishment of a "Comprehensive Strategic Partnership" between Mongolia and China. The conference aimed to summarize and present the political, trade, economic, and humanitarian relations between Mongolia and China over the past 10 years. In his opening speech, Dr. D. Zolboo, director and associate professor of the Institute of International Studies of the Mongolian Academy of Sciences, stated, “This year marks the 75th anniversary of diplomatic relations between Mongolia and China, the 30th anniversary of the signing of the 'Treaty on Friendly Relations and Cooperation,' and the 10th anniversary of moving to a 'Comprehensive Strategic Partnership.'" In August 2014, Chinese President Xi Jinping made a historic visit to Mongolia, during which the two countries elevated their relationship to a new level of comprehensive strategic partnership. Since then, Mongolia-China relations have rapidly developed in all sectors and achieved significant results. In this period, leaders of both countries frequently communicated at the highest level, political mutual trust continuously deepened, economic cooperation became more robust, and humanitarian exchanges became more active. The relations between our two peoples, with a history of hundreds of years, have today reached their best stage in history and are setting an example for relations between neighboring countries and cooperation between large and small countries. Soon after successfully overcoming the pandemic, in November 2022, Mongolian President U. Khurelsukh made a state visit to China, met with Chinese President Xi Jinping, and issued a joint statement to advance the comprehensive strategic partnership into a new era, which was an especially significant event. As a result, our country has announced its alignment of the "Steppe Road" national program with China's "Belt and Road" initiative, the "New Revival Policy" with the "Global Development Initiative," and the long-term development policy "Vision 2050" with the "Two Steps" development strategy, mapping the current trajectory of cooperation between our two nations. The conference discussed topics such as the joint declaration on developing the comprehensive strategic partnership and the political, trade, economic, and humanitarian relations between Mongolia and China through presentations and discussions.

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E. Odbayar: Mongolia is a country that esteems peace, with independent multi-pillar foreign policy, not pandering to anyone

Published: 2024-09-24 | Translated from: montsame.mn

Mongolia's President’s foreign policy advisor E. Odbayar gave an interview to "Daily" newspaper. This summer, our country did not lack high-level state visits. In today’s complex geopolitical environment, world leaders are visiting Mongolia. What is your comment? In 2024, Mongolia's foreign relations have become particularly significant. For the first time in our history, we have hosted many visits in one year. Previously, our country would receive 1-2 state visits annually, and we would make a similar number of visits abroad. Studies on the frequency of visits show an increase of 3.6 times. This demonstrates that Mongolia’s independent multi-pillar foreign policy concept, which prioritizes peace, has been the correct course amid the complex geopolitical and geostrategic environment of misunderstandings, distrust, and disrespect. This year's state visits began with the Federal President of Germany Frank-Walter Steinmeier. Subsequently, President A.G. Lukashenko of Belarus, President Viola Amherd of Switzerland, and Slovenia's President Dr. Nataša Pirc Musar have visited Mongolia for the first time. The President of Laos also made a state visit. For the first time in history, Bhutan's King Jigme Khesar Namgyel Wangchuck visited our country with his family. Meanwhile, Mongolia's President visited Uzbekistan. How do you assess the outcomes of agreements signed during these visits? The outcomes of any visit are assessed based on the agreements signed during the visit. Since President Khurelsukh began his tenure in 2021, major strategic changes have been introduced in foreign relations, exemplified by the slogan “Bringing the World to Mongolia”. During these visits, discussions have shifted from relying on loans and aid to focusing on mutually beneficial cooperation and joint investment opportunities. After COVID, our economy is recovering, with a growth of 7.5%. Mongolians have begun producing goods that meet international standards, and investments are now directed towards our developing partner countries. Therefore, we adhere to a policy of creating mutually beneficial cooperation. Furthermore, the business forum organized during each visit has become more effective. We have been pursuing policies that support wealth creators and taxpayers. We include business sector representatives in the economic entourage of high-level state visits, thus increasing the benefits of business forums by facilitating meetings between businesspersons of both countries for sharing experiences. What tangible results do you highlight from the overseas visits? Overall, all visits have been effective. For example, with the countries President Khurelsukh visited, we established air transport agreements for direct flights. Additionally, there has been a focus on visa-free travel, exempting all types of passports from visa requirements. Last year, we started allowing 30-day visa-free travel to the Maldives, and now we have similar agreements with Vietnam and the UAE, which reduces the economic burden on our citizens. We view this as a tangible outcome of these visits. In addition, inter-organizational agreements have been signed. Under the "Billion Trees" national program, we are working together on green development. Furthermore, joint investment is emphasized. In this context, we negotiated with Uzbekistan to discuss setting up a "Tashkent" trade center in Ulaanbaatar and a "Ulaanbaatar" trade center in Tashkent, opening opportunities for the two markets to exchange goods. Looking ahead, the livestock sector will have sustainable farming operations. In every visited country, several agreements based on mutually beneficial cooperation have been successfully established. Now, our enterprises and relevant ministries and agencies need to actively work on them. After COVID, our foreign relations have rapidly revived, as seen from the number of visits. Do you think there is caution from third neighbors to prevent Mongolia, situated between two big neighbors, from being isolated or losing its standing? It is clear that our international stance has had a positive global impact. After 777 years since Güyük Khan received a letter, the Pope historically visited Mongolia for the first time. With 1.5 billion followers worldwide, Pope Francis, as the sovereign head of the Vatican State, visited Mongolia, promoting our country globally and highlighting the cultural and historical significance of the Mongolian nomadic civilization. In his visit, Pope Francis characterized our country as a symbol of freedom of conscience and belief. When the UN Secretary-General visited Mongolia, he highlighted three key topics he wanted to address in his letter. First, he acknowledged Mongolia's active and successful participation in UN peacekeeping efforts, marking 20 years of participation in 2022. He expressed his desire to publicize Mongolia's significant role and contribution internationally. Second, he praised Mongolia for proclaiming itself a nuclear-weapon-free zone and calling on other countries to cease pursuing nuclear weapons for 30 years now. Third, he emphasized Mongolia’s leadership in initiating the establishment of a group for landlocked developing countries at the UN level, contributing significantly to the global recognition of the challenges faced by landlocked nations. Moreover, upon departing Mongolia, the UN Secretary-General remarked, “Mongolia is a beacon of peace during these challenging times," underscoring Mongolia’s significant role globally. Therefore, even if no agreements were signed during the visits of the Papal and the UN Secretary-General, the impact on our country's image and position in the international arena is evident. During these challenging times, how do third neighbors perceive our "third neighbor" policy? Following COVID and the Russia-Ukraine conflict, which escalated to a global dispute, we observed how the world divided, creating distrust among nations, pushing towards a multi-polar order. Yet, our "third neighbor" policy has been consistently implemented for 30 years. We considered it to be functioning successfully. Third neighbors have expressed pride in being regarded as such, acknowledging the effectiveness of this policy, particularly noting how two large, everlasting neighbors provide balance. However, our assessment suggests that our "third neighbors" may not have comprehended our policy well, or perhaps they didn’t view it from our perspective, or maybe peace led them to overlook the core of our policy, leaving it unnoticed. The reason for this conclusion might be the pressure we started to receive from our third neighbors post the Russia-Ukraine conflict. We did not experience this previously with our friendly and values-aligned neighbors with whom we shared the democratic path. Accompanying the situation after early 2022 or post conflict, we've been asked, "Are you siding with Russia or your third neighbors?" or "Do you choose Ukraine or the path of conflict?" Mongolia has an independent multi-pillar foreign policy that emphasizes peace. We don't deviate by following any country and remain firm, not yielding to any pressure. Our foreign policy emphasizes having the best relations with our two neighbors, followed by relations with third neighbors. Since the 1990s, this has been clear, and our neighbors are aware. Previously, we voted to abstain at the UN two years ago. After this, from third neighbors, we began receiving pressure asking why we abstained from voting, why we didn’t side with peace or international cooperation by supporting Ukraine, or why we didn’t criticize Russia. In the past years, we’ve continuously explained ourselves, emphasizing Mongolia’s independent foreign policy. We’ve consistently expressed, "We are advocating for peace, trying to ensure disputes and conflicts are resolved through dialogue and diplomacy based on mutual trust," explaining our abstention. We have every right to abstain at the UN; this is our decision that should not be criticized. Moreover, there is a reason for our abstention. We have comprehensive strategic partnerships with our two permanent neighbors, respecting each other’s sovereignty. Our core interest lies in maintaining Mongolia's independence and security, rather than yielding to external pressure. Given the 79th UN General Assembly is happening, what proposal is Mongolia making regarding UN reform? Our stance has been long established. UN reform involves more than simply the Security Council; it includes other mechanisms. This discussion predates the Ukraine-Russia war. Mongolia supports UN reform. However, regarding the exclusion of Russia from the UN Security Council, we do not entertain such discussions. It is about expanding the current system to include more states, with UN member nations negotiating and deliberating over many years towards a stronger, more honorable, impactful UN capable of making solid, reassuring decisions. At this year's UN session, what role does President Khurelsukh play? Since becoming President in 2021, President Khurelsukh has consistently participated in the UN General Assembly, reflecting our foreign policy priority. This year's session, it’s noteworthy that the general debate's theme is "Leaving no one behind: together towards peace, sustainable growth, and human dignity for present and future generations," organized under the initiative of UN Secretary-General Antonio Guterres. President Khurelsukh will participate in the “Futures Summit,” where heads of states will adopt three major declarations, and subsequently address the 79th UN General Assembly in the general debate, presenting Mongolia's stance on international issues, foreign policy goals, and priorities. During this period witnessing a multi-polar world order, as a participant, he will call for peace, reconciliation, mutual understanding, and respect, advocating for a global order that esteems varied civilizations, cultures, histories, and developmental paths. Hosting a head of state from a nation inciting war before participating in the UN Assembly led to perceptions of supporting war internationally. How do you respond? In some places, such exaggerated misunderstandings arose. However, we will correct and clarify these through dialogue. The main issue hinges on Mongolian core interests: developing strategic partnership relations with our eternal neighbor Russia and enriching reciprocal economic content amid historical ties, weighing foremost for us. Furthermore, remembering that more than 10,000 Russian soldiers, together with our veterans, contributed, giving their lives for the victory in Khalkhin Gol, which laid the groundwork for our current freedom, independence, and democratic standing. This year marks not only the 85th anniversary of the victory at Khalkhin Gol; it coincides with the 75th anniversary of Ulaanbaatar Railway and the 50th anniversary of Erdenet city, symbolizing Mongolian-Russian friendship. We considered this when organizing the visit. Everyone knows the commemoration of Khalkhin Gol’s victory’s 85th anniversary, and President Putin received the invitation before the Ukraine conflict, from his visit during the 100th anniversary of diplomatic relations in 2021. It’s been customary for President Putin to visit our country every five years, previously visiting for the 75th and 80th anniversary of the Khalkhin Gol victory. During this visit, after meeting with President Khurelsukh and Russian President Putin, a message was conveyed internationally that "Russia is our eternal neighbor in whom we have profound trust and confidence in their significant contribution towards mutual trust, respect, and internationally cooperative efforts for peace, security, and global development." Suggesting a suspension of festivities related to the Khalkhin Gol victory during wartime to mark them in peacetime would not align with our foreign policy nor core interests. Within foreign relations, especially to our comprehensive strategic partnership neighbors, our joint values and traditions matter deeply, garnering mutual respect over centuries. Indeed, our media should reflect official positions concerning foreign policy, security, and Mongolian unity when broadcasting news. Unfortunately, numerous misleading and false reports based on rumors rather than confirmed facts emerged during this visit and prior ones, creating misunderstanding among the public. Following President Putin's visit, information surfaced in society regarding canceled state visits, like the Swedish King’s that seemed unfounded. There was speculation, but no official announcement of the Swedish king’s visit here. State visits are officially agreed upon and announced, protocol dictates this. Hence, canceling a visit that was never officially arranged is illogical. For instance, it's appropriate to base media releases on official information, fostering transparency. Suggestions surfaced regarding questioning Mongolia’s standing in the ICC due to hosting President Putin, yet our international standing remains untarnished as requests for bilateral UN meetings increase. Subsequently, China's Vice-President visited, followed by the impending state visit from Vietnam’s President, and Kazakhstan's President expressed intent to visit. On the subject of the International Criminal Court (ICC), here’s one clarification: The ICC media director acknowledged on BBC that "Mongolia must cooperate in arresting President Putin," recognizing legal obligations. However, ICC rules state if a country has bilateral agreements preserving immunity and privileges, contravening that would breach the agreement, thus freeing the country from cooperation obligations. Mongolia signed a comprehensive strategic partnership agreement with Russia in 2019, recognized by the ICC. Always, relations with Russia remain prominent, exemplified by diplomatic privileges under the Vienna Convention, which both Mongolia and Russia adhere to. This reaffirms if a state leader is visiting, attempts to arrest would breach diplomatic privileges, an act violation of international and domestic laws, not a personal assertion. Besides, the ICC has clarified Mongolia’s stance. Our nation maintains diplomatic ties with all UN member states, aspiring peaceful coexistence. Mongolia continues its peace-driven independent multipolar foreign policy unwaveringly. We will not abstain from inviting any country due to criticism. This exemplifies our foreign policy doctrine. Through differences, we find unity.

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President U.Khurelsukh Denies Cancellation of Meetings at UN Assembly

Published: 2024-09-24 | Translated from: isee.mn

The President of Mongolia, U.Khurelsukh, is attending the 79th session of the United Nations General Assembly currently being held in New York, USA. He participated in the general debate of the assembly and delivered a speech at the "High-level meeting on the Future." During this time, he is meeting with high-level guests and delegates from other countries. However, some media outlets reported that "President U.Khurelsukh's scheduled meetings have been canceled." The Presidential Office denied this information, stating, "No meetings have been canceled." Furthermore, Presidential Foreign Policy Advisor E.Odbayar stated, "There is a high demand for meetings with our President from foreign parties. Our President has little time to meet with those he has requested to meet. This year, we have clearly reiterated our slogan 'For Peace.' This is a policy consistent with our fundamental principles of foreign relations and foreign policy, so it was not said solely for the visit of the Russian President. We have also expressed this slogan at the SCO meeting earlier. Recently, during President Putin's visit, we reiterated it. The attitude of foreign countries towards our country remains unchanged. In fact, no one is even discussing President Putin's visit." The main session of the UN General Assembly and the general debate have not yet begun. It is during this time that heads of state are actively engaged in meetings. Meanwhile, during the earlier "High-level meeting on the Future," the President of Mongolia, U.Khurelsukh, has already met with the Prime Minister of Bhutan, Tshering Tobgay, and the Prime Minister of Japan, Fumio Kishida.

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D. Bazardorj: Russian Interests in Mongolia Challenge Mongolian-Chinese Relations

Published: 2024-09-24 | Translated from: gogo.mn

Our country has established comprehensive strategic partnerships with seven nations, one of which is our southern neighbor, the People's Republic of China. This year marks the tenth anniversary of reaching the highest level of relations with this country by establishing a comprehensive strategic partnership. Additionally, this year is the 75th anniversary of the establishment of diplomatic relations between the two countries. The Institute of International Studies of the Academy of Sciences organized a scientific conference on "The Joint Declaration on Developing a Comprehensive Strategic Partnership and Mongolian-Chinese Relations" at the Ministry of Foreign Affairs. T. Tugsbilguun, Deputy Director of the Department of Neighboring Countries of the Ministry of Foreign Affairs, and Zhang Mushin, Counselor of the Embassy of the People's Republic of China, delivered opening remarks. Following this, researcher D. Bazardorj from the Institute of International Studies delivered a lecture on "Mongolian-Chinese Political Relations." Here are some excerpts from his presentation: On August 21, 2014, President Xi Jinping of China visited our country. His decision to make Mongolia the destination of his second foreign visit underscores the significant importance of this relationship. In our relations with China, we observe a policy of non-alignment but partnership, no alliance but cooperation. China's approach to neighboring countries has been outlined in the following documents: - Good Neighborly Policy, 1990 - Amicable, Peaceful, and Prosperous Neighbor, 2003 - Neighboring Country First, 2013 The relationship between the two countries has reached its highest level. There is a notable feature wherein the foreign policy priorities of both countries align. Expanding friendly relations with Mongolia is a consistent strategic direction of the Government of the People's Republic of China, as stated in their documents. In contrast, Russia does not prioritize its relationship with Mongolia in its foreign policy. The scope and implementation of Mongolian-Chinese relations are extensive. However, significant mining and infrastructure projects have been under negotiation for many years without reaching consensus. Many challenges confront the relationship between our two countries, including competition among major powers, Russian interests in Mongolia, historical, religious, and cultural differences, and changes in internal policies and movements. The trade war between the United States and China (some scholars refer to it as a 'Warm War') indirectly impacts us. Russian interests also affect major developments, making the relationship between the two countries sensitive and delicate.

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President U. Khurelsukh Participates in the High-Level Summit on the Future at the UN

Published: 2024-09-24 | Translated from: unuudur.mn

President U. Khurelsukh participated in the High-Level Summit on the Future held at the UN Headquarters in New York City, USA, and delivered a speech. During this summit, which was attended by leaders of 83 countries, he emphasized, "Mongolia is a country that consistently adheres to a foreign policy that is peaceful, open, independent, and has multiple pillars. Therefore, we respect the diversity of history, culture, civilization, religion, national fundamental interests, and development paths of countries around the world, and we strive to establish international relations based on the principles of multiple pillars. Furthermore, we regard the strengthening of multilateral cooperation, upholding international law and the UN Charter, as the main way to ensure international peace and security. Among these, strengthening dialogue, mutual understanding, and mutual trust is the cornerstone of global stability and peaceful coexistence," he noted. He also added, "Our country has organized many events in cooperation with the UN as part of the preparation for this high-level summit. Last August, we successfully organized the World Women's Conference in our country under the theme 'For a Green Future' and adopted the final document, the 'Ulaanbaatar Declaration for a Sustainable Future'. It is gratifying that the key ideas of the declaration from the World Women's Conference are reflected in the documents that will be endorsed at this high-level summit. We will continue to support and work steadfastly towards further strengthening and developing the leading role and coordination of the UN and UN-centered multilateral cooperation in global affairs." In addition, Prime Minister Tshering Tobgay of the Kingdom of Bhutan paid a courtesy call to President U. Khurelsukh. It was noted by Prime Minister Tshering Tobgay that the first state visit of the Majesty of the Kingdom of Bhutan to Mongolia had special significance for the development of cooperation between the two countries in sectors such as agriculture, animal husbandry, environment, and tourism. He also extended gratitude to the government and people of Mongolia for their warm and friendly reception of the Bhutanese delegation. The two sides agreed to seek possibilities for joint projects and programs under the national "One Billion Trees" movement and His Majesty's initiative of planting "A Hundred Million Fruit Trees" to contribute to global efforts in combating climate change and desertification, and protecting the environment.

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Infrastructure

President U. Khurelsukh Discusses Expansion of 'Chinggis Khaan' Airport with Japanese Prime Minister F. Kishida

Published: 2024-09-24 | Translated from: montsame.mn

President U. Khurelsukh of Mongolia and Prime Minister F. Kishida of Japan have discussed the potential expansion of the 'Chinggis Khaan' airport. This discussion marks a significant step in the collaboration between the two countries, aiming to enhance connectivity and improve infrastructure to support growth and development in the region.

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Agreement Reached to Expand "Chinggis Khaan" Airport

Published: 2024-09-24 | Translated from: news.mn

During the 79th session of the United Nations, the President of Mongolia U. Khurelsukh and the Prime Minister of Japan F. Kishida held a meeting. One of the issues they agreed to jointly address was the expansion of "Chinggis Khaan" Airport. The revitalization of Mongolia's foreign relations policy following the pandemic is positively impacting the economy. Tourism, in particular, is rebounding, and the number of tourists using airlines has sharply increased. This has added to the load on Chinggis Khaan International Airport, prompting the Japanese government to express its readiness to assist with the expansion. Moreover, Mr. Fumio Kishida requested to intensify cooperation within the framework of the Special Strategic Partnership's action plan. He expressed gratitude for understanding and accepting his decision to postpone his planned visit to Mongolia due to a natural disaster in Japan. The leaders of Mongolia and Japan agreed on ensuring the real implementation of the action plan of the Special Strategic Partnership and expanding mutually beneficial cooperation in all sectors.

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The Issue of Families Affected by the Ger District Redevelopment Will Be Resolved This Year

Published: 2024-09-24 | Translated from: gogo.mn

Ulaanbaatar city implemented a project from 2013 to 2023 to redevelop and construct buildings on the land of ger districts. As a result, 640 households suffered losses. The mayor, H. Nyambaatar, has tasked resolving the issues of these affected citizens. In this scope, last April, the issues of 24 households were resolved, and the keys to their new homes were handed over. Today, Deputy Mayor L. Khosbayar met with representatives to resolve the cases of 26 households, announcing that their losses would be compensated, and they would be granted rights to housing by the end of this year. Specifically, in the Khan-Uul district’s 8th sub-district, around Yarmag, 11.5 and 46.1 hectares of land were cleared for redevelopment 4 to 9 years ago, but the project was not implemented, leaving 26 families affected. During this event, Deputy Mayor for Social Sector, Green Development, and Environmental Pollution Affairs L. Khosbayar stated, “The 26 households of the Khan-Uul district's 8th sub-district have been living in rental apartments and shared rooms for the last 4 to 9 years. To address this issue, Mayor H. Nyambaatar instructed the NCD (National Corporation of Defined Areas) to initiate a project, grant the necessary rights to contract execution, calculate preliminary settlement costs, and allocate the related funding for the 'A' and 'B' segmented areas in Yarmag. Today, we have resolved the issues of 26 units at the two locations that cleared their land,” he said, sharing updates and discussions. Head of the City Housing Policy Office, G. Gankhuu stated, “The above 26 households entered into agreements and vacated their land in 2014 and 2020. Although two projects were scheduled for these locations, the companies could not proceed, leaving the projects unfeasible and causing continued losses for the residents over 4 to 9 years. Repeated meetings with the affected citizens have been held to find solutions, resulting in today’s transfer to the 'Capital City Housing Corporation', with plans to compensate for losses and grant housing rights within the year,” he explained.

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Starting tomorrow, the road from the Peace Bridge to the Camel Statue will be closed for repairs

Published: 2024-09-24 | Translated from: isee.mn

Road repair work is being carried out throughout the capital city. In particular, the road from the Peace Bridge to the Camel Statue in the Khan-Uul District will be partially closed from 11:00 PM to 6:00 AM for repairs and upgrades. Therefore, citizens and drivers are advised to use alternative routes.

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Ulaanbaatar Becomes the Fifth City to Implement the "Asian Resilient Cities" Project

Published: 2024-09-24 | Translated from: ikon.mn

The "Asian Resilient Cities" project is set to be implemented in the capital city. Thus, Ulaanbaatar becomes the fifth city to be part of the "Asian Resilient Cities" project. Through the implementation of this project, the aim is to strengthen the capacity of government officials, improve urban planning by redesigning related processes, enhance citizen participation, improve living conditions, and enhance environmental sustainability and disaster risk management by strengthening education, technology, and community involvement. The activities to be executed under the "Asian Resilient Cities" project have been identified in collaboration with the city's government staff, citizens, international organizations, and civil society representatives. This project will run until April 2027 and will be jointly implemented by the Office of the Mayor of the Capital City and the Asia Foundation. Note: When using our information in any form, media organizations (TV, Radio, Social and Web pages) must cite the source (ikon.mn).

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B.Batzorig: Four Companies Including "Bodi Properties" Submitted Bids for the Selbe Sub-Center's Housing Project with a Budget of MNT 240 Billion

Published: 2024-09-24 | Translated from: ikon.mn

Today, the tender for the construction work of the first phase of a 13-hectare area aimed at transforming the ger district into residential apartments, based on the Selbe sub-center, was opened, followed by a press conference. B. Batzorig, an expert from the Capital City Housing Corporation (NOSK), stated: "The tender for the construction and assembly work on a 13-hectare plot, as part of the first phase of converting the ger district into residential apartments around the Selbe sub-center, was announced on August 26, 2024, allowing foreign entities to participate within 20 working days. Today, it was opened at 10:10 AM. The tender is organized across two packages for the overall 13-hectare area, with a total budget estimated at MNT 240 billion. Two bidders submitted proposals for each of the two packages. For the first package, related to construction in Zone A of the 13-hectare area in Chingeltei District, Bodi Properties LLC submitted a verified bid of MNT 119 billion 623 million 34 thousand 21, and Hunan Industrial Equipment Installation LLC submitted a verified bid of MNT 119 billion 325 million 942 thousand 539. For the second package, related to construction work in Zone B, China Construction Continent and Ocean Mongolia LLC submitted a bid of MNT 111 billion 547 million 18 thousand 590, and Hunan Industrial Equipment Installation LLC submitted a bid of MNT 109 billion 984 million 886 thousand 174. Companies participating in the tender must deposit 0.5% of the bid amount as a guarantee. The tender guarantee is subject to cancellation within six working days. The tender evaluation committee will carry out relevant evaluations in accordance with the law and will make a decision within 15 working days," he reported. Warning: Media agencies (Television, Radio, Social, and Web pages) must cite the source (ikon.mn) when using any part of our information wholly or partially.

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"Selbe Sub-Center" Project Construction Tender Opened

Published: 2024-09-24 | Translated from: news.mn

The construction tender for the "Selbe Sub-Center" project was officially opened today. B. Batzorig, an expert from the NOSK, said: "The construction tender for the project, with a total cost of 240 billion MNT, has been announced in two packages. Two participants submitted bids for each package. In particular, for the first package, which involves the first phase of construction in Chingeltei district over an area of 13 hectares, 'Bodi Properties' LLC submitted a bid of 119 billion MNT. Similarly, 'Hunan Industrial Equipment Installation' LLC also submitted a bid of 119 billion MNT for the first package. Meanwhile, for the second package, concerning the B area construction, 'China Construction Continent and Ocean Mongolia' LLC proposed a price of 111 billion MNT, while the second company, 'Hunan Industrial Equipment Installation' LLC, submitted a price of 109 billion MNT. The evaluation committee will carry out assessments in accordance with relevant laws. Notification will be sent to the participants within 15 working days, and advice will be forwarded to the client. The evaluation will be based on the criteria set in accordance with the scope and quantity of work outlined in the tender documents. Generally, the tender remains valid for 30 days from the opening to the completion of the contract. After that, the construction work will commence. As part of this project, a total of 18 residential blocks, including ten nine-story blocks and five five-story blocks, will be constructed. The tender for external engineering networks and green areas will be announced soon. The project is planned to be completed by December 1, 2025," he said.

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New Drainage System for US Diplomatic Mission Construction in KHUD

Published: 2024-09-24 | Translated from: gogo.mn

Mayor of Ulaanbaatar and Governor of the Capital H. Nyambaatar received representatives of the Bureau of Overseas Buildings Operations (OBO) of the United States. Based on the Governor's Decree No. A/364 of 2021, a 39,967 square meter area in the 18th district of Khan-Uul was allocated for the United States Diplomatic Mission's use for 60 years. An agreement was signed with the "Diplomatic Organizations Service Provision Agency" SOE and a certificate was issued. During the meeting, the parties exchanged views on the construction of a new drainage system for the American Embassy to be built at this location. At the beginning of the meeting, Mayor H. Nyambaatar stated, "We have planned to build a drainage system for the new US Embassy in the 18th district of Khan-Uul. While carrying out this work, we are committed to ensuring safety and propose collaboration with the state and capital on ongoing development projects. The city will promptly provide the necessary support for this project and will be pleased to work together to strengthen bilateral cooperation in every possible way in the future." This year marks the 37th anniversary of diplomatic relations between Mongolia and the United States. Also, 23 years ago, Ulaanbaatar and Denver established sister city relations. Subsequently, on April 20, 2006, Resolution No. 87 of the Capital City Council Presidium named the road from Ikh Toiruu along the west bank of the Selbe River to Beijing Street as "Denver Street". Source: Ulaanbaatar City Administration, Public Relations Office

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Society

Golomt Bank and Golomt Capital Securities' "JOB FAIR 2024" Event Announced

Published: 2024-09-24 | Translated from: gogo.mn

Golomt Bank, a leader in Mongolia’s banking and financial sector, and Golomt Capital, a top securities company in Mongolia, have opened over 100 new job opportunities as they expand their business reach. The "Job Fair 2024" event, offering positions across 15 professional fields, is set to take place at Shangri-La Mall and all Golomt Bank business centers, branches, and service centers on October 2nd and 3rd. University students in their final year, job seekers, and those looking to change careers can attend the open job day to receive consolidated information about job opportunities they are interested in and participate in the selection process. In addition to this, attendees can explore Golomt Bank's and Golomt Capital Securities’ products and services all in one place during the event, in collaboration with Zangia.mn, under the slogan "Jobs for Every Mongolian Citizen." Success begins with choosing the right job.

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MONGOLIAN LABOR MARKET SUMMIT: GOOD WORKPLACE AWARDS 2024 Event in 3 Days

Published: 2024-09-24 | Translated from: ikon.mn

There are 3 days left until the event "MONGOLIAN LABOR MARKET SUMMIT: GOOD WORKPLACE AWARDS 2024" organized by the leaders in the Mongolian human resources and labor market sector, Zangia.mn, NitoPay, and the Ministry of Labor and Social Protection. This annual event will take place this Friday at the Shangri-La Ballroom under the theme "Human Resource Shortage and the Economic Future." Researchers from international organizations, representatives from ministries and government agencies, and leaders of Mongolia's largest companies will all gather at one place to conduct a widely scoped event. The issues of human resources in the labor market are fundamental to the stable operation and growth of companies and further, they are key factors in the economic and development policies of countries. Therefore, this summit aims to gather leading domestic companies, representatives from sector ministries and government agencies, researchers from international organizations, and industry experts to exchange opinions and discuss solutions to current labor market issues and the best practices for ensuring human resource stability. This year's summit is unique in that, besides recognizing the best in human resources, it will serve as a high-level meeting to discuss labor market issues across all levels in Mongolia. The event will be comprised of the following four main sections: 1. HAS MONGOLIA'S HUMAN RESOURCES DEPLETED?
In this section, presentations will be given on topics such as labor market data and regulation, economic recovery, necessary measures to reduce the risk of human resource depletion, career growth and business expansion, and the direction of the global labor market. A panel discussion will take place under the theme "When will a satisfying working environment be created in Mongolia?" 2. CREATING A HUMAN-CENTERED WORK ENVIRONMENT
This section will feature presentations on topics such as Mongolia's workforce, employee happiness index, changes in the workforce, and workforce resources. A panel discussion will occur under the theme "Salary or Values?" 3. GOOD WORKPLACE AWARDS 2024 - Awards Ceremony
The best employers in the following 10 categories will be recognized:
- Diversity & Inclusivity – Best employer implementing equal opportunity policies
- Career development – Best employer supporting career growth
- Family Supportive – Family-friendly best employer
- Best for Youth – Best employer for youth
- Best Culture – Employer with the best culture
- Best Training – Best employer supporting training and development
- Innovative management – Best employer with innovative management
- Leadership in HR Policy – Best employer leading in HR policy
- Best Career Progression for Women – Best employer supporting women's career advancement
- Employer Branding – Best employer brand
The best companies of 2023 include Thiess Mongolia, Kitchen All, Central Express, Munkhcement Building Materials, Optimal NMAX, CallPro, Mongolia's fintech group (HiPay), UBCab, Mungunguur Hospital, Master Group, Tavan Bogd Group, Skyhypermarket LLC, AND Global. 4. SOLUTIONS AND BEST PRACTICES
Presentations in this section will focus on topics such as talent development and corporate sustainability, building top talent, employee health, and business success. A panel discussion titled "Where do talents stay? - Mongolia's best human resource management solutions" will take place. Join this largest and highest-level labor market summit to find answers and solutions to questions like "How will the gap created by 60,000-80,000 young people going abroad to work since the Covid pandemic be filled? How long can companies endure the shortage of human resources? Will Mongolia's labor market continue as it is, with all the youth leaving abroad, and will companies become increasingly without people? Can Mongolia's higher education institutions supply the labor market with the necessary people?" By attending this summit, you can gather the latest information from the industry in one place, learn from the best management practices, and expand your network by meeting experts from every sector. You are invited to participate extensively. Ticket purchase: www.zangia.mn/event
Ticket price: 180,000₮
Contact us: 7272-2202, 80222022, 80052200
Notice:
Media organizations (TV, Radio, Social, and Websites) must mention the source (ikon.mn) when using our information in any form, fully or partially.

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Today: Presentation of the Gender Situation Assessment Report of Mongolia

Published: 2024-09-24 | Translated from: montsame.mn

Overview of events happening on September 24: 9:30 AM: The Chinese Studies Department of the Institute for International Studies of the Mongolian Academy of Sciences will organize a scholarly conference titled "Joint Declaration on the Development of Comprehensive Strategic Partnership Relations" and "Mongolia-China Relations" at the Ministry of Foreign Affairs, commemorating the 10th anniversary of the comprehensive strategic partnership relations established between Mongolia and the People's Republic of China. Contacts: 88724622, 96639787 10:00 AM: The highest award of the Mongolian Academy of Sciences, the "Kublai Khan" medal, will be presented in the Great Hall of the Mongolian Academy of Sciences. 11:30 AM: A press conference of representatives demanding an increase in the payments to mothers with medals and salaries (50k) will be held at the National Information Center of "Century News" newspaper. 1:00 PM: A discussion on the implementation of "Sustainable Development Goal 4: Promoting Quality Education" and future actions will take place at the Suld Hall of the Tuushin Hotel. Contact: 89755575 2:00 - 4:30 PM: The World Bank will present the Gender Situation Assessment Report of Mongolia in the Emerald Hall of the Blue Sky Hotel. Contact: 91399149 3:00 PM: The opening of the program to provide digital skills to senior citizens will be held in the conference hall of the Mongolian National Chamber of Commerce and Industry. Contact: 88231133; 94999598 - The Children's Center of Anzhen Hospital in Beijing, China, will conduct free examinations and necessary surgeries for children with heart defects at the Bayanzurkh General Hospital from September 24 to 26. - An international regional training titled "Strengthening the Quality of Statistical Information of the Sustainable Development Goal Indicators" is taking place in Ulaanbaatar from September 23 to 25, marking the 100th anniversary of the establishment of the Statistical Office in Mongolia. - "Autumn Green Days-National Production-2024" continues at the Central Stadium until September 29. - The Six Red World Amateur Snooker Championship being held in Ulaanbaatar will continue until September 25. - The "75 Years of Friendship" photo exhibition will continue until September 27. - The "Tea Road" exhibition will continue at the National Museum of Mongolia until October 3. Follow @montsame.mn

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Environment

Published: 2024-09-24 | Translated from: unuudur.mn

The Ministry of Environment and Climate Change and the Wildlife Conservation Society (WCS), among other organizations, jointly organized a consultation in Ulaanbaatar titled "Improving Mongolian Saiga Conservation by Strengthening Understanding of International Conventions." It was noted during the session by the representatives of the Wildlife Conservation Society that the number of saiga has increased fivefold between 2018 and 2023, reaching 15,540. Researchers highlighted that this was influenced by the cooperation of international and civil society organizations and the projects and programs implemented. Participants agreed that to intensify this work and improve saiga conservation, it is necessary to ensure the implementation of conventions to which Mongolia is a party and to equip researchers and experts in the environmental sector with comprehensive understanding and knowledge in this area. International organizations operating in the field of nature conservation in our country plan to develop a strategic plan for saiga conservation and to make linear infrastructure such as roads and railways more biologically friendly this year. As a result, it is expected that this will limit the pressures and challenges facing the habitat of the Mongolian saiga, create conditions for its sustainable natural growth, and fulfill international obligations related to the protection of rare species.

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Children Breathe Twice as Much as Adults and Are Most Affected by Air Pollution

Published: 2024-09-24 | Translated from: ikon.mn

With a special license from the MPA Agency, the following advice on air quality and public health control comes from the National Center for Public Health. "Due to issues of indoor and outdoor air quality, 7.1 million people die annually. Of these, 2.6 million deaths are attributable to poor indoor air quality. It is noted that 91% of the world's population lives in environments where air quality levels exceed those indicated in guidelines. Particularly, people in Asia are living in regions with high air pollution. Our country is considered one of the ten most polluted cities in the Pacific region. Therefore, air pollution has become a pressing social health issue in Mongolia. Air pollution increases the risk of disability, early death, brain strokes, heart and lung cancers, and chronic respiratory illnesses. Studies have also indicated that it is a cause of diabetes. Air pollution contributes to 20% of brain stroke cases. Children breathe twice as much as adults and are therefore most affected by air pollution." It outlines what 40 studies within Mongolia have concluded with concise imagery: - 52.9% of respiratory illnesses correlate with outdoor air pollution and meteorological factors. - 24.1% of child respiratory illnesses are due to outdoor air pollution. - Cardiovascular diseases account for 20%. - 9.2% of mortalities in urban populations. - Mortalities from combined lung and heart diseases account for 28.8%. - Lung cancer is influenced by 39.9% of factors. Our scientists have identified the excessive emission of nitrogen dioxide from vehicle engine combustion. Given the overburdened traffic conditions in our country, there is a risk of increasing asthma cases. Recommendations by the World Health Organization (WHO): - Energy production: Increasing the use of low-emission fuels, transitioning to clean fuels in stages, and augmenting the use of renewable energy sources (such as solar, wind, and hydroelectric power). - Household energy and heating: Ensuring access to affordable, clean domestic energy solutions for cooking, heating, and lighting. - Urban planning: Enhancing energy efficiency in buildings and developing cities with green buildings. - Transport: Transitioning vehicles to clean engines and creating cities conducive to cycling and walking. - Waste management: Reducing waste volume, sorting waste, and implementing strategies for recycling and reuse persistently. - Air quality guidance: Strengthening air quality standards to match those of WHO's air quality guidelines. Warning: Media organizations (Television, Radio, Social Media, and Websites) must cite the source (ikon.mn) when using our information in full or in part.

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Innovation

Mongolia MCA: Internship Announcement

Published: 2024-09-24 | Translated from: itoim.mn

MILLENNIUM CHALLENGE ACCOUNT (MCA – MONGOLIA) INTERNSHIP ANNOUNCEMENT Closing date: 17.00 ULAT, October 7, 2024 1. NON-PAID INTERN FOR THE COMMUNICATIONS UNIT “Millennium Challenge Account – Mongolia” (MCA-Mongolia) is a state-owned entity established by Government Resolution No 297, dated October 2018. MCA-Mongolia is tasked with implementing the Mongolia Water Compact signed with the Millennium Challenge Corporation (MCC), a U.S. government foreign aid agency. Under the direction of the Director of Communications, the Intern will provide support for the Communications team. The term of the internship is three months, with working hours of 20 hours per week. A meal and transportation allowance of MNT 50,000 per day net will be provided. Duties and responsibilities - Support in posting procurement, vacancy, and press releases to the MCA Mongolia website. - Prepare press releases and translations. - Manage the data of MCA Mongolia’s photo and video archive. - Prepare official meeting briefing packages. - Prepare presentation documents for meetings. - Organize and coordinate meetings. - Organize and archive documents. - Assist with fixed memorabilia counting. - Perform other ad hoc tasks. The profile: The ideal candidate is a third or final year student, or a new graduate in Linguistics, Journalism, International Relations, Marketing, Communications, Multimedia, or other related fields. The intern should be bilingual and available for a full schedule with the following basic requirements: - Advanced knowledge of Microsoft Office. - Good level of English and academic performance. - Excellent communication skills, teamwork abilities, and a dynamic, initiative-taking attitude. - Availability to work 20 hours per week. TO APPLY Please submit your Cover Letter and Curriculum Vitae (CV) in English via email to hr@mca-mongolia.gov.mn. Only candidates qualified for the first round will be contacted. For recruiting information, please call 7711-1710 during business hours. No fees will be paid to MCA-Mongolia or any of its agents at any stage of the recruitment process (application, interview, processing, training fees, or other).

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Mongolia MCC: Internship Announcement

Published: 2024-09-24 | Translated from: itoim.mn

MILLENNIUM CHALLENGE ACCOUNT (MCA – MONGOLIA) INTERNSHIP ANNOUNCEMENT Closing date: 17.00 ULAT, October 7, 2024 1. NON-PAID INTERN FOR THE COMMUNICATIONS UNIT “Millennium Challenge Account – Mongolia” or MCA-Mongolia is a state-owned entity established by Government Resolution No 297, dated October 2018. MCA-Mongolia is established to implement the Mongolia Water Compact signed with the Millennium Challenge Corporation (MCC), a U.S. government foreign aid agency. Under the direction of the Director of Communications, the Intern will perform support functions for the Communications team. The term of the internship is THREE MONTHS. The working hours will be 20 per week. The meal and transportation allowance is MNT 50,000 per day net. Duties and responsibilities: - Support in posting procurement, vacancy, and press releases to the MCA Mongolia website; - Preparing press releases and translations; - Data management of MCA Mongolia’s photo and video archive; - Preparation of official meeting briefing packages; - Preparation of presentation documents for meetings; - Organizing and coordinating meetings; - Organizing and archiving documents; - Assisting fixed memorabilia counting; - Other ad hoc tasks. The profile: Third or final year student or a new graduate of Linguistics, Journalism, International Relations, Marketing, Communications, Multimedia, or other related fields. The intern should be bilingual and have full schedule availability with the following basic requirements: - Advanced knowledge of Microsoft Office; - Good level of English and academic performance; - Excellent communication skills and teamwork, dynamic and with initiative; - Availability to work 20 hours per week. TO APPLY Please submit your Cover Letter and Curriculum Vitae (“CV”) in English, via email to hr@mca-mongolia.gov.mn. Only qualified candidates for the first round will be contacted. For recruiting information, please contact at 7711-1710 during business hours. No fees will be paid to MCA-Mongolia or any of its agents at any stage of the recruitment process (application, interview, processing, training fees or other).

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M. Byambasuren: The Mongolian Fintech Association Has Unified Stakeholders in the Sector and Contributed to Its Development

Published: 2024-09-24 | Translated from: ikon.mn

In connection with the 5th anniversary of the Mongolian Fintech Association in 2024, we spoke with the Executive Director M. Byambasuren. - How is the fintech sector developing? Consumer numbers are growing annually. Can you share insights about this progress? - In recent years, technology-based financial products and services have rapidly developed in the financial market, enabling more accessible, cost-effective, and fast financial services for consumers. On the other hand, technology companies delivering these fintech products have changed the fundamental principles of traditional financial markets, increasing competition. In other words, with the advent of fintech, the digital transformation of the financial market has happened quickly. Fintech has addressed previously unresolved technology and infrastructure issues in the financial market, providing solutions through various financial products based on consumer needs in a quick, easy, and understandable way. Each year, fintech products and services improve, offering consumer-centric financial services that have become an integral part of our lives. For instance, from making payments, taking loans to online shopping, we have become accustomed to easily completing daily tasks using fintech-based applications. - Can you introduce the Mongolian Fintech Association and mention some of its implemented projects? - The Mongolian Fintech Association was established in 2019. Since then, it has worked to protect the interests of its members and act as their voice in forming the fintech ecosystem. It has partnered with government regulatory bodies to protect member rights, create and improve favorable legal environments by uniting fintech stakeholders, and organize meetings and conferences to share international best practices. Additionally, the association has continuously operated professional councils, including member organizations, under its umbrella. The active work and operations of the association have enhanced cooperation among stakeholders and regulatory bodies in this sector. The Executive Management proudly states that “The Fintech Association has strong and sound governance.” This strong governance foundation sets the base for the sector's ecosystem, allowing for quick and collective responses to new legal challenges. The association’s governance structure allows for members to elect board members democratically every two years, including external, independent members from partner organizations abroad. - Can you explain the structure and activities of the professional councils under the association? - Initiated by executive management, the Legal Professional Council under the association was established in 2022. Initially, it included lawyers from 16 organizations, organizing monthly and quarterly meetings to discuss common legal challenges, find solutions, and conduct necessary training. "Constant professional councils operate under the association." The most recent major project included suggesting amendments to the "Non-Bank Financial Loan Operational Procedure" to align with fintech's common interests and participating actively in a sub-working group for laws aimed at eliminating contradictions and discrepancies in providing electronic government services. The legal council actively contributes to laws and regulations directly affecting industry interests and operations. In 2022, the Information Security and IT Professional Council was also formed, conducting monthly meetings for experience and information sharing aimed at contributing to industry development. Recently, they initiated the creation of a “Guide on Compliance Assessments of Information Security Laws” as a benchmark, published on May 31, 2024, for use by member organizations and new companies entering the fintech sector. To enhance the skills of professional council members, the association recently delivered innovative in-person training sessions such as "Intellectual Property in the Technology Sector." - Can you talk about membership goals when it was first established? - This year marks the 5th anniversary of the Mongolian Fintech Association. The initial goal was to spread fintech awareness among the public and promote a finance-technology ecosystem. Moreover, it aimed to protect fintech companies' interests by acting as a bridge to government bodies. We believe we've accomplished this goal and will continue working towards it steadfastly. "Currently, 21 member organizations are registered in the Mongolian Fintech Association." Since the association’s inception in 2019, organizations have applied to become members. Original member companies include Order LLC, LendMN NBFI JSC, Grapecity Mongolia LLC, and Ard Financial Group JSC, pioneers contributing to sector development. More key stakeholders have joined, and 21 member organizations are now registered. Most recently, Golomt Bank, a major banking sector representative, has joined as the youngest member. - What is the association’s participation and contribution in acting as a bridge between public and private sectors? - To protect member interests, the association collaborates with government bodies. Member organizations form the core of our sector, representing stakeholders essential to the financial and technological ecosystems. We are in constant partnership with the Bank of Mongolia, the Financial Regulatory Commission, the Ministry of Digital Development and Communications, among others, to ensure member voices are heard. “The Fintech Association operates at a level that can influence policy-making and decision-making in the sector. “Since 2022, I, as the Executive Director, have served as a member of the electronic council of the Financial Regulatory Commission, representing the association, highlighting our role in sector policy involvement. - How do you view international cooperation? - Without a doubt, no development is imaginable without international best practices and collaboration. While the association’s domestic activities focus on establishing and strengthening the fintech ecosystem, our next goal is to open pathways for our members to introduce their businesses internationally, acting as a bridge. “2024 was a year of expanding international cooperation.” To this end, in November 2023, we co-founded the Asia Fintech Alliance with 14 Asian countries. These countries have started collaborative efforts to share best practices, supporting one another and the initiatives. In January 2024, we joined the UK-based Alliance of Digital Finance and Fintech Associations. By joining these international alliances, our members gain advantages in expanding operations internationally and growing their businesses. Our fintech companies have positioned themselves well in the domestic market and developed business models that can set standards in the Central Asian region. They have full potential for international expansion. For example, Invescore Finance has expanded its operations in Kyrgyzstan and Kazakhstan in Central Asia, And Global LLC in the Philippines, and HiPayment Solution LLC in collaboration with the major Chinese company Ant Group. More fintech companies are expected to expand operations in the Central Asian sector soon. - Can you share some information about this year's Frontier Fintech Summit 2024? - The association organized the first Frontier Fintech Summit in its founding year. At that time, fintech was a relatively new concept in our country. The summit effectively communicated to government representatives the necessity of a "sandbox environment regulation," making it a successful event. The highlight of this year’s summit is uniting companies providing advanced technology-based financial products and services with stakeholders to discuss opportunities and challenges, determine the financial sector’s future, and highlight practical experience, lessons, challenges, and solutions. The summit will address hot topics in the international fintech sector, such as the revolution of artificial intelligence in fintech, cross-border payments in Web 3.0, establishing a sustainable future fintech ecosystem, cybersecurity in fintech, information privacy, the development of buy now, pay later (BNPL) services, and the role of regulators in implementing Regtech. The Frontier Fintech Summit is the sole major event in the fintech sector, gathering fintech professionals and is a must-attend event for those working in the finance and technology sectors, running businesses, or aiming to enter this industry in the future. Warning: Media entities (Television, Radio, Social, and Web pages) are reminded that when using or partially using our information in any form, citing the source (ikon.mn) is mandatory.

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World Space Week Event to be Held in Mongolia Next Month

Published: 2024-09-24 | Translated from: isee.mn

The much-anticipated "World Space Week-2024" event for children in Mongolia will be hosted at the "UG Arena" complex on October 4, 2024. Through this event, over 150 volunteers will be serving the children. Last year, the event was celebrated in 90 countries, but this year the number has increased to 100 countries. The event is the perfect opportunity for parents to spend fun and creative time with their children and aims to educate young attendees about the high-tech achievements and benefits derived from space science and exploration. It seeks to inspire interest in these subjects. Additionally, the festival will provide free workshops, experiments, and training sessions tailored for children and youth. Activities will include opportunities to view the sun and stars through telescopes, fulfill tasks that challenge space knowledge, and create a vacuum environment that simulates outer space. This event will be organized simultaneously across all 21 provinces of Mongolia and over 100 countries worldwide.

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Health

Invitation to the Public Discussion on the 2025 Health Sector Budget Proposal

Published: 2024-09-24 | Translated from: ikon.mn

Mongolia's Great Khural is organizing a public discussion regarding the "2025 Health Sector Budget" proposal on September 26, 2024, at 14:00 at the State Palace. Citizens, sector scholars, researchers, and representatives of civil society organizations are invited to participate. Those wishing to be part of the public discussion must register by 17:00 on September 25, 2024, via the phone number 51-262946 of the Secretariat of the State Great Khural. Note: Participation is limited, and participants will be admitted on a first-registered basis. Finance Standing Committee of the State Great Khural Warning Media organizations (Television, Radio, Social and Web pages) must always cite the source (ikon.mn) when using our information wholly or partially in any form.

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NURA Center's AI-based Screening Detects 689 Suspicious Cancer and Other Pathological Cases

Published: 2024-09-24 | Translated from: ikon.mn

Since the establishment of “NURA,” Mongolia's only AI-based early detection and preventive screening center, over 19,000 clients have undergone early detection screenings. Notably, with low-dose contrast-free computed tomography, 689 cases were identified with suspicious cancer and other pathological changes, and these have been referred for more detailed further diagnostics. The demographics show that 41% of the clients are male and 59% female, ranging from 18 to 102 years. The majority, however, are aged between 30 and 64, suggesting that young working-age individuals are participating in early detection. Regular screenings are a healthy habit in modern life, enabling individuals to identify health risk factors before sickness arises, and thereby change harmful lifestyles to avoid diseases. Notably, 60.1% of the clients exhibited a high rate of visceral fat, with 56% of these being male, indicating metabolic changes that increase susceptibility to cardiovascular ailments as they age. Men also displayed a higher tendency towards Type 2 diabetes risk, with 5.6% of total clients diagnosed with diabetes. NURA conducts coronary artery calcification evaluation using low-dose contrast-free computer tomography, evaluating the level of calcification in the four main branches of the coronary arteries, which ensure the heart muscle functions properly. The risk of coronary artery disease or myocardial infarction is assessed on a scale of 5 using the Agatstone score, or Calcium score. A healthy person should have a calcium score of 0, and scores of 101 or higher indicate narrowing of coronary arteries and a risk of heart attacks. In NURA’s screenings, 432 clients were found at medium to high risk of a heart attack—311 men and 121 women—who then underwent further diagnostics and treatment to prevent potential heart disease. Using LUNIT AI, NURA has conducted breast mammography screenings for 10,422 clients, of which 103 showed abnormal changes. The FUJIFILM AMULET INNOVALITY mammography machine provides detailed slicing from two vertical and two lateral views and processes between 150 to 400 images with detailed cross-sectional views for accurate detection of small changes potentially obscured by breast tissue. This system automatically evaluates breast size and density to determine the appropriate dosage of X-ray. Moreover, LUNIT AI is highlighted for its 96% accuracy in early detection of breast cancer. Frequent cancer screenings have revealed elevated markers for ovarian cancer in 194 cases, pancreatic cancer in 224, and prostate cancer in 184 cases. Additionally, fecal occult blood tests identified 828 cases of changes, representing 4.41% of total screenings. NURA’s 32-indicator comprehensive screening package results are classified into ratings A, B, C, and D. In 2024, to meet the demands of clients and serve more individuals, the new “NURA Zaisan” branch aims to provide early detection screenings for 40,000 people annually. With a capacity of servicing 180 people a day, or 60,000 annually, NURA aims to enhance accessibility and quality of early detection in Mongolia. The AI-based NURA center by FUJIFILM Corporation aims to early detect common cancer risks and lifestyle-related diseases through a 32-indicator package. Book an appointment by calling 7588-7588 or via Nura.mn. Branch 1: 2nd Floor, Service Center, Gerlug Vista Housing Complex, 18th Khoroo, KHUD, NURA Gerlug Branch. Branch 2: Street of Ar Zaisan, 22nd Khoroo, KHUD, NURA Zaisan Branch. Warning: Media outlets (TV, Radio, Social, and Web pages) are required to cite (ikon.mn) as the source when using this information fully or partially.

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Sports

Boxing World Cup Continues in Ulaanbaatar

Published: 2024-09-24 | Translated from: gogo.mn

The "Ulaanbaatar-2024" Boxing World Cup has kicked off. This tournament is notable for being held for the first time in Asia, specifically in Mongolia. The tournament, which takes place at UG Arena, will continue until September 26th. A total of 170 athletes from countries including Great Britain, Germany, Japan, Singapore, Italy, Wales, Australia, Peru, South Korea, China, the Philippines, and the host country Mongolia are competing. For the first time, this tournament will award ranking points for the World Boxing Association.

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Today's Stories

Politics

Economy

Diplomacy

Infrastructure

Society

Environment

Innovation

Health

Sports

Politics

Seizing Corrupt Officials' Assets or Mere Populism?

Singaporean Citizen Loh Sien Chee Sentenced to Two Years in Mongolia for Alleged Trafficking and Abuse

Minister Naranbayar's Policy and Decisions Spark Criticism

Monitoring Government's Proposed Program and Offering Effective Solutions

Economy

B.Amgalaa: Fitch Highlighted that a Major Factor in Upgrading the Development Bank's Credit Rating to B+ was the Repayment of 3.1 Trillion MNT

Fitch Raises Khan Bank's Credit Rating to B+

B.Javkhlan: 60% of Budget Expenses Increased Due to Changes in Sector Laws

The B+ Upgrade of the Development Bank of Mongolia's Credit Rating Influenced by ₮3.1 Trillion Repayment

"No Evidence of 8% Economic Growth Projection Outside of Budget Plan"

B. Javkhlan: 60% of Budget Expenditure Increase Due to Changes in Sectoral Laws

B. Javkhlan: 60% of Budget Expenditure Increase Due to Amendments in Sectoral Laws

Diplomacy

A New US Diplomatic Facility to be Built in Khan-Uul District

Emphasis on the Rapid Development of Mongolia-China Relations in All Sectors

E. Odbayar: Mongolia is a country that esteems peace, with independent multi-pillar foreign policy, not pandering to anyone

President U.Khurelsukh Denies Cancellation of Meetings at UN Assembly

D. Bazardorj: Russian Interests in Mongolia Challenge Mongolian-Chinese Relations

President U. Khurelsukh Participates in the High-Level Summit on the Future at the UN

Infrastructure

President U. Khurelsukh Discusses Expansion of 'Chinggis Khaan' Airport with Japanese Prime Minister F. Kishida

Agreement Reached to Expand "Chinggis Khaan" Airport

The Issue of Families Affected by the Ger District Redevelopment Will Be Resolved This Year

Starting tomorrow, the road from the Peace Bridge to the Camel Statue will be closed for repairs

Ulaanbaatar Becomes the Fifth City to Implement the "Asian Resilient Cities" Project

B.Batzorig: Four Companies Including "Bodi Properties" Submitted Bids for the Selbe Sub-Center's Housing Project with a Budget of MNT 240 Billion

"Selbe Sub-Center" Project Construction Tender Opened

New Drainage System for US Diplomatic Mission Construction in KHUD

Society

Golomt Bank and Golomt Capital Securities' "JOB FAIR 2024" Event Announced

MONGOLIAN LABOR MARKET SUMMIT: GOOD WORKPLACE AWARDS 2024 Event in 3 Days

Today: Presentation of the Gender Situation Assessment Report of Mongolia

Environment

Discussing International Conventions Related to Saiga Conservation

Children Breathe Twice as Much as Adults and Are Most Affected by Air Pollution

Innovation

Mongolia MCA: Internship Announcement

Mongolia MCC: Internship Announcement

M. Byambasuren: The Mongolian Fintech Association Has Unified Stakeholders in the Sector and Contributed to Its Development

World Space Week Event to be Held in Mongolia Next Month

Health

Invitation to the Public Discussion on the 2025 Health Sector Budget Proposal

NURA Center's AI-based Screening Detects 689 Suspicious Cancer and Other Pathological Cases

Sports

Boxing World Cup Continues in Ulaanbaatar

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