1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Petro Matad signs seismic work deal in Mongolia www.pipelineme.com

Petro Matad, a Mongolian exploration company, said it has signed a preliminary deal with a unit of China National Petroleum Company for 3D seismic survey in the Tugrung Basin of Block V in Mongolia.

The company will begin a comprehensive 3D seismic programme for BGP Inc., which will include additional 2D seismic focused on adjacent leads of the Tugrug Basin and a new basin in Block IV, Petro Matad said in a statement. It also expects to add further drillable prospects to its growing exploration portfolio.

The planned 218 square kilometre 3D survey will focus on defining and de-risking near term drilling targets within the Tugrug Basin which could contain over 3 billion barrels of oil in place and additional potential within stratigraphic traps, it said.

The Tugrug Basin has a proven working petroleum system confirmed with a stratigraphic core hole drilled by the Company in 2011 near the basin margin. The core-hole contained live, un-biodegraded oil in good quality sandstone reservoirs.

Petro Matad said the 3D survey will cover the key prospects and leads, which are part of the primary structural play fairway within the basin, identified on existing 2D seismic data. The survey is also expected to image a major stratigraphic play fairway, which has been proven in prolific petroleum producing plays in Africa, India and the Falkland Islands, to name a few. In addition, 150km of new 2D seismic data are also planned in the Tugrug Basin to better define other leads and prospects.

In addition, 204km of new 2D data is planned over the Khangai Basin in the northern part of Block IV. This survey aims to better define some attractive leads identified on regional 2D seismic gravity and magnetic surveys acquired in 2015. 

BGP has started mobilisation and expects to begin work on the blocks in late October 2017, Petro Matad said, adding that it expects the results of the survey to advance farmout discussions currently taking place.

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Monaco-Mongolia expedition makes important discovery www.monacolife.net

The 12th Monaco-Mongolia Archaeological Campaign, conducted jointly by the Museum of Prehistoric Anthropology of Monaco and the Mongolian Academy of Sciences in the Mongolian steppes, made significant discoveries, including bronze arrowheads, ceramics and bones during its latest expedition.

The most remarkable piece, dating back more than 2000 years, is a bronze cauldron. During the excavation of a tomb at the site of Tsatsyn Ereg, archaeologists discovered the cauldron containing a wooden spoon.

According to the scientists, this object, dating from the second century BC, was buried near a human body, in a pit three-metres deep with a series of other artefacts. This would probably have been the burial site of a nomadic rider, many of whom crossed the Great Wall of China to sow terror among the Chinese peasantry.

The search of the contents of the cauldron will be carried out in a laboratory in order to clear the instrument and to try to discover the traces of any possible substance.

Funded by the Monaco Government since 2006, the Monaco-Mongolia joint missions, under the patronage of HSH Prince Albert and under the aegis of UNESCO, are carried out each summer by the teams of Jamyian-Ombo Gantulga, head of the Institute of Archeology of the Academy of Sciences of Mongolia, and Jérôme Magail of the Museum of Prehistoric Anthropology of Monaco.

The two teams cooperate on three sites in the Arkhangai province: Khunnu of Gol Mod, the Buddhist monastery of Zayan Khüree and the Bronze Age necropolis of Tsatsyn Ereg, on which a research and exhibition centre was built two years ago with the support of the Prince’s Government.

Elisabeth Gramaglia Gondeau, Honorary Consul of Mongolia in Monaco, has visited the site of Tsatsyn Ereg for the third time, which has just been inscribed on the UNESCO World Heritage Tentative List thanks to the work of the archaeologists.

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Mongolia ushers in new prime minister www.asia.nikkei.com

BEIJING -- The Mongolian legislature installed a new prime minister Wednesday, bringing into focus the potential implications for diplomatic relations with North Korea as well as neighboring Russia and China.

Khurelsukh Ukhnaa, the deputy prime minister from the ruling Mongolian People's Party, took office after a confirmation vote in the parliament. He succeeds Erdenebat Jargaltulga, who was ousted by the legislature last month in a no-confidence vote.

Mongolia is known to be friendly with North Korea, taking in workers from the reclusive state. Amid international efforts to clamp down on the North's nuclear and ballistic missile programs, attention will turn to the new prime minister's ability to parlay his country's own diplomatic channels in addressing the issue.

Japanese Prime Minister Shinzo Abe spoke with Mongolian President Battulga Khaltmaa in September, with the two leaders agreeing on the importance of implementing United Nations Security Council sanctions against Pyongyang. They also reaffirmed cooperative efforts toward returning Japanese nationals abducted in the past by North Korea.

While the Mongolian president is officially head of state and wields veto power, the prime minister holds sway over national policy as head of government. The focus will be on how the two leaders work together.

Khurelsukh, 49, has a military background and has built connections to North Korea. He first won election to the parliament in 2000 and has served as minister for emergency situations and elsewhere in the cabinet. He is seen as having initiated the push to unseat Erdenebat while deputy prime minister.

The new prime minister must also deal with the looming debt crisis that led to his predecessor's downfall. Erdenebat agreed to a $5.5 billion bailout from the International Monetary Fund earlier this year that came with a set of austerity measures. Angry voters responded by electing Battulga -- an opposition candidate -- as president in July.

A portion of Mongolian sovereign debt will reach maturity in early 2018. But to refinance the bonds or take other stopgap measures, Khurelsukh needs to restore the nation's creditworthiness -- a task that entails fiscal reform. Balancing that initiative against the will of the people will put his political skills to the test.

 
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Mongolia has a new Putin-esque prime minister who is also the head of a Harley-Davidson fan club www.businessinsider.com

Mongolia’s parliament has unanimously confirmed Ukhnaagiin Khurelsukh as the nation’s new prime minister.

The colourful leader, and president of Ulaanbaatar’s Harley-Davidson fan club, earned the nickname “Fist” after punching a colleague in 2012. He has also gotten a Putin-esque reputation for posing shirtless photos while riding horseback and posing with hunting guns.

Khurelsukh began his career in 1989 as a political officer in a military unit before moving into politics a year later. He was first elected into parliament in 2000 and has served as the country’s deputy prime minister twice.

Mongolia’s previous prime minister, Jargaltulgiin Erdenebat, was ousted by parliament a month ago after allegations of corruption — a claim he vigorously denied. Both ministers are members of the ruling Mongolia People’s Party that, in 2016, won an overwhelming number of seats, 65 out of a possible 76. However, it is not uncommon for Mongolia to regularly overhaul it’s leadership. Since elections in 1992 there have been 15 cabinets, each lasting 18 months on average, and no prime minister has served their full four-year term since 2004.

Former prime minister Erdenebat criticised the trend after his voting out: “Although, some of us point to foreign investments as economic killers, in reality we politicians are the internal killers of our economy and suffocate our own growth.”

Despite its role as a key coal supplier to China, mineral-rich Mongolia has significant debt pressures and the selection of a new prime minister will put the IMF’s $5.5 billion economic rescue package back on track.

Mongolia also has open dialogue and diplomatic ties with all key regional nations in Central Asia — including China, Russia, South Korea and even North Korea — which has made it a central nation for hosting international discussions and promoting regional peace.

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Li congratulates Mongolia's new prime minister www.news.xinhuanet.com

BEIJING, Oct. 4 (Xinhua) -- Chinese Premier Li Keqiang on Wednesday sent a congratulatory message to Khurelsukh Ukhnaa on his assuming office as Mongolia's new prime minister.

China and Mongolia are close neighbors linked by mountains and rivers, Li said in his message, adding that bilateral relations face significant development opportunities.
The Chinese side attaches great importance to China-Mongolia relations and is ready to join efforts with Mongolia to increase political mutual trust and deepen practical cooperation and exchanges in various fields so as to push for greater development of the comprehensive strategic partnership between the two countries, Li said.

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Mongolia names biker enthusiast PM, kick-starting IMF rescue package www.reuters.com

ULAANBAATAR (Reuters) - Mongolia’s parliament confirmed the nomination of motorbike enthusiast Ukhnaa Khurelsukh as prime minister on Wednesday, putting the country back on track to receive funds from a $5.5 billion IMF economic rescue package.

Khurelsukh, of the ruling Mongolian People’s Party (MPP), received unanimous approval from the lawmakers in attendance for his confirmation as Mongolia’s 30th prime minister.

He will face challenges in bringing back foreign investment to the mineral-rich former Soviet satellite and manage the country’s heavy debt load.

The International Monetary Fund has approved an economic bailout program to help relieve debt pressures and buoy the currency, the tugrik, that includes austerity policies.

An IMF visit to review the program that included the disbursement of $37.82 million of the funds was delayed in September until a new government was formed.

The IMF had said that once a new government was in place, it would engage with the authorities on how best to move forward with the program.

Khurelsukh succeeds Jargaltulga Erdenebat, who was voted out of office in September amid allegations of corruption and incompetence.

The new prime minister holds the title of colonel, although he only served in the military from 1989 to 1990.

“He projects a tough rule of law image,” said Dale Choi, head of Altan Bumba Financial Group. “He’s a very tough and strong guy himself. I think the electorate likes it very much.”

Khurelsukh, 49. is seen as a leader to the party’s so-called “youth faction” and is also a noted motorcycle enthusiast. He is president of the fan club for Harley-Davidson in Ulaanbaatar.

Mongolia’s democracy has been turbulent since its transition from a socialist state in 1990, and no premier has completed a four-year term since 2000.

Government infighting and reshuffles have contributed to the delays of development projects.

The closest Mongolia came to handing over the operations of state-owned Erdenes Tavan Tolgoi coking coal mine to a consortium of Mongolian Mining Corp, China Shenhua Energy and Sumitomo Corp was in 2015, before the parliament speaker stepped in to block the deal.

“We would hope to see the new government advance the privatization of Tavan Tolgoi,” said Thomas Hugger CEO and a fund manager at Asia Frontier Capital.

Mongolia’s coal miners are looking to ramp up production to meet growing demand from China, but longstanding transportation issues continues to hold back sales.

Mongolia’s proximity to China means it could play a large role in coal supply to China, said Hugger, if a key railway is built.

“There’s no reason Mongolia shouldn’t be the largest supplier of coking and thermal coal to China.”

 
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October 4, 2017 trading report www.mse.mn

On October 4, 2017, 70,814 shares worth MNT 576.7 million of 27 firms listed as Tier I, II, and III were traded. 10 firms’ shares increased, 12 decreased in price and 5 remained unchanged. Mongol Nekhmel JSC was the top performer, increasing 13.79 percent, whereas Khanyn Material JSC was the worst performer, decreasing 12.0 percent.

On the primary market for government securities, 4,751 bonds worth 448,554,000 were issued.

On the secondary market for corporate bonds, 763 bonds worth MNT 76,299,000 were traded.

The MSE ALL Index rose 00.13 percent to stand at 1071.88. The MSE market cap stands at MNT 2,075,393,995,429 .

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Loan interest of nonbank financial institutions lowered to 3.5 per cent www.montsame.mn

Ulaanbaatar /MONTSAME/ In the second quarter, a total of 480 non-bank financial institutions, which hold special license, issued loans with the weighted-average monthly interest of 3.5 per cent, which means lower by 0.6 points than the previous quarter, reported the Financial Regulatory Commission.

Non-bank financial sector had unpaid loans of MNT554.9 billion in the second quarter, went up by MNT76.7 billion compared to the beginning of the year and up by MNT142.9 billion compared to the same period of last year.

Non-performing loans total to MNT72.2 billion or makes up 13 per cent and outstanding loans make up 5.9 per cent, while performing loans make up 81.1 per cent out of the unpaid loans.

Nonperforming loan amount increased by 21.5 per cent from the beginning of the year and up by 47 per cent compared to the same period of last year.

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Better Global Prospects Yield Favorable Outlook for Developing East Asia Pacific www.worldbank.org

Bangkok, October 4, 2017: Improved global growth prospects and continued strong domestic demand underpin a positive outlook for the developing economies of East Asia and the Pacific, says the latest World Bank report on the region. Stronger growth in advanced economies, a moderate recovery in commodity prices, and a recovery in global trade growth, are the favorable external factors that will support the economies of developing East Asia and Pacific to expand by 6.4 percent for 2017. 

The October 2017 edition of the East Asia and Pacific Economic Update reports that the uptick in growth in 2017 relative to earlier expectations reflects stronger than expected growth in China, at 6.7 percent, the same pace as in 2016. In the rest of the region, including the large Southeast Asian economies, growth in 2017 will be slightly faster at 5.1 percent in 2017 and 5.2 percent in 2018, up from 4.9 percent in 2016.

Several external and domestic risks could impact this positive outlook. Economic policies in some advanced economies remain uncertain, while geopolitical tensions centered on the region have increased. Monetary policies in the U.S. and the Euro Area could be tightened more quickly than expected. Many countries in the region have high levels of private sector debt while fiscal deficits remain high or are on the rise.

“The recovery of the global economy and the expansion of global trade are good news for the East Asia and Pacific region and its continued success in improving living standards,” said Victoria Kwakwa, World Bank Vice President for the East Asia and Pacific Region. “The challenge will be for countries to strike a balance between prioritizing short-term growth and reducing medium-term vulnerabilities, so that the region has a stronger foundation for sustained and inclusive growth.”

China’s gradual rebalancing away from investment and towards domestic consumption is expected to continue, with growth projected to slow to around 6.4 percent in 2018.

Thailand and Malaysia are expected to grow more rapidly than expected, due to stronger exports, including tourism, for the former, and increased investment in the latter. Gains in real wages are fueling strong consumption in Indonesia, and a rebound in agriculture and manufacturing is boosting growth in Vietnam. In the Philippines, the economy is projected to expand at a slightly slower pace than in 2016, partly due to slower than expected implementation of public investment projects.

The outlook for smaller countries is mixed. Mongolia and Fiji are expected to fare better in 2017-2018. Mongolia’s macroeconomic stabilization program is encouraging new foreign direct investment in mining and transport. Fiji’s growth will be supported by reconstruction from Cyclone Winston. Growth in Cambodia and Lao PDR is moderating compared to 2016, but its pace remains higher than other countries in the region; trade and FDI in Cambodia and expansion of the power sector in Lao PDR are the main drivers.

Expanding tourism, low world commodity prices, high levels of revenue from fishing fees, and rising construction activity are supporting moderate GDP growth rates in most of the small Pacific Islands. In the longer term, reforms in tourism, labor mobility, fisheries, and the knowledge economy have the potential to lead to significantly higher incomes, employment, and government revenue. 

“The improved prospects for global growth offer a window of opportunity for countries to reduce vulnerabilities while pursuing reforms that can yield growth dividends over the longer term,” said Sudhir Shetty, World Bank Chief Economist for the East Asia and Pacific region. “Reducing risks to financial sector stability and strengthening competitiveness, including through deeper regional integration, remain priorities.”

To maintain resilience against risks, the report calls for a move away from measures aimed at short-term growth towards policies that address financial sector and fiscal vulnerabilities. These measures include: strengthening supervision and prudential regulation in countries experiencing rapid growth in private-sector credit and debt; reforming tax policies and administration to help boost revenue collection; and being ready to tighten monetary policy if warranted by the pace of interest rate increases in advanced economies.

Structural reform priorities differ across countries. Sustained reforms of the state-owned enterprise sectors in China and Vietnam can improve growth prospects. The Philippines, Thailand, Lao PDR and Cambodia will benefit from continued improvements in public investment management systems to support expanding public infrastructure programs. In Indonesia, liberalizing the regulations for foreign investment remains important. 

The report also highlights the potential that tourism development and deeper regional integration offer to offset the risks of protectionism. Growth in tourism, if well managed, has the potential to yield substantial benefits to the region, including for the Pacific Island Countries. The ASEAN Economic Community offers one avenue for promoting further regional integration, including by further liberalizing trade in services and reducing non-tariff barriers.

Despite success in reducing poverty, high and rising inequality is a growing concern, as are falling mobility and growing economic insecurity. For lasting inclusive growth, measures to reduce extreme poverty must be accompanied by policies that broaden access to quality services and more productive jobs, and stronger social protection systems that reduce the consequences of adverse shocks.

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EU goes after Amazon & Apple over unpaid taxes www.rt.com

In the latest crackdown by EU authorities over unfair tax deals, US tech company Amazon has been ordered to pay €250 million ($294.38 million) in back taxes to Luxembourg.

EU Competition Commissioner Margrethe Vestager said Luxembourg’s illegal tax benefits to Amazon had allowed almost three-quarters of the company’s profits to go untaxed. Amazon paid a quarter the tax compared to businesses, she added.

"Member states cannot give selective tax benefits to multinational groups that are not available to others," said Vestager.

Amazon denied the accusations, saying it did “not receive any special treatment from Luxembourg.”

"We will study the Commission's ruling and consider our legal options, including an appeal," said an Amazon spokesperson.

Luxembourg’s government said, “As Amazon has been taxed in accordance with the tax rules applicable at the relevant time; Luxembourg considers that the company has not been granted incompatible state aid.”

The tax deal between Luxembourg and Amazon was struck in 2003. At that time Jean-Claude Juncker, the European Commission's president, was the prime minister of Luxembourg.

The Commission launched the Amazon investigation in 2014, claiming it had suspicions the arrangement had broken EU rules.

Vestager also announced plans on Wednesday to take Ireland to court over its failure to recover €13 billion in unpaid taxes from Apple.

Following a three-year investigation into the iPhone maker’s complicated tax schemes, the European Commission concluded in 2016 that the company benefited from a sweetheart tax deal granted by the Irish government in breach of the European Union's state aid rules.

Apple has appealed to Europe’s highest court to contest the “unfair” decision. The tech giant has not paid the money to the Irish government which has not demanded any repayment.

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