Events
Name | organizer | Where |
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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK | MBCCI | London UK Goodman LLC |
NEWS

Floods in the capital, 20,000 people displaced, resilience programs in place www.fides.org
Due to the heavy rains that continue to hit the capital of Mongolia, Ulaanbaatar, since July 3, the rising waters of the Selbe and Tuul rivers have caused extensive flooding that has affected the population of the city : according to government estimates, 128,000 people belonging to 31,600 families have been affected and damaged by the floods, while more than 20,000 people have been displaced and transferred to safe places, where they are in immediate need of warm clothes and food.
Mongolian army soldiers and members of the civil defense have been deployed for rescue and relief activities, such as setting up centers for displaced people and distributing food and medicine. Humanitarian services have been activated: Unicef has provided medicines and medical equipment, as well as psychosocial support activities to affected families, while the Mongolian Red Cross has provided blankets, mattresses, kitchen utensils , disposable masks, gloves and sanitizing products. Heavy rain since the start of last week has damaged a dam on the Selbe River, displacing hundreds of people and damaging extensive infrastructure: over 100 residential buildings, hundreds of yurts and traditional vehicles have been flooded in the city, while more than 700 roads, bridges, schools, dams and power lines were damaged.
The government has declared a state of high alert in Ulaanbaatar, as more rains are expected, which experts describe as "the heaviest in the last 50 years".
Eighteen districts of Ulaanbaatar, a city of around 1.5 million people, have suffered hardship and damage, and the situation is expected to worsen. The United Nations, through the UN-Habitat Mongolia office, had already launched a project in the country which includes a wide range of initiatives and which, through prevention, has improved the resilience of local communities, particularly with regard to climate impacts on urban areas. Indeed, Mongolia faces climate change-related risks, such as extreme rainfall, strong winds and snowstorms, which have intensified in recent years. Most vulnerable to these changes are traditional settlements, known as 'ger districts', often established on lowlands and mountain slopes, susceptible to flooding and mudslides. Seven "ger districts" in Ulaanbaatar have been selected for the "Adaptation Project" as early as 2019, and UN-Habitat technicians have started work to improve communities' adaptation to floods. The project implemented a number of steps: construction of physical infrastructure against flooding and improved sanitation services; improving knowledge of the dangers and risks of flooding. The project has brought together action and training groups, of 10 to 20 families at a time, where household members are encouraged in mutual awareness, communication, solidarity and help. A total of 89 groups have been formed in Ulaanbaatar, half of them led by women, who are implementing local action plans. Five flood protection and drainage facilities were also constructed. Thus, more than 27,000 people have benefited from flood protection and 6,000 people have improved sanitation facilities, while another million people in the capital benefit indirectly. In addition to serving as a model for the whole city, these activities show the importance of protecting and improving the urban environment, since the constructed drainage channels reduce the damage caused by flooding. "Climate change, notes UN-Habitat Mongolia, is having an increasing impact on cities, informal settlements and other urban areas around the world. There is therefore a growing need to invest in urban adaptation actions and building resilience, which are beneficial in emergencies. Prevention initiatives build the capacity to respond effectively, in the most vulnerable communities and regions". (PA)
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Mongolia's Growing Economy and Favourable Investment Environment Underscored www.montsame.mn
"Mongolia Economic Forum-2023" is taking place on the second day in Ulaanbaatar. About 1,700 domestic and foreign delegates are participating in the Forum, where rapid economic growth of Mongolia after the global "Covid-19" pandemic is being highlighted.
On the second day Deputy Prime Minister, Minister of Economy and Development of Mongolia Ch. Khurelbaatar delivered keynote speech “We are ready”, noting the current state of the economy, business and investment environment, infrastructure condition, and the proven reserves of mineral resources. Here are some underscoring figures in his presentation.
The Economic Conditions:
The total economy of Mongolia has reached USD 16.8 billion and is ranked 124 out of 196 countries.
The gross domestic product per person reached USD 5033, ranking 119th out of 196 countries.
The economic growth is approximately 5.1 percent and ranks 11th.
The export amount reached USD 12.5 billion.
Foreign exchange reserves are back to normal and inflation is going down.
Despite three difficult years of the Covid-19 pandemic, the credit rating remains stable.
Favourable business environment:
It is ranked 81st by the World Bank's "Enjoyable Business Environment"
73rd out of 176 countries in the Economic Freedom Index by the Heritage Foundation publication
71st out of 132 countries in the Global Innovation Index.
74th out of 193 countries in UN e-Government Development Index.
Investment environment:
33rd out of 211 countries with its average tax burden or the country with low taxes;
One of the 16 countries with the lowest VAT;
One of the 6 countries with the lowest cooperate income tax;
Mongolia has a double taxation agreement with 26 countries;
It has concluded an Agreement on the Mutual Protection and Promotion of Foreign Iinvestments with 43 countries
Infrastructure environment:
To be newly commissioned railway network is +2336 km
New railway network +2,966 km
Number of airports that can receive International flights +6
Proven Mining Resources:
Mining operations are taking place in 3.7 percent of the total territory with 2,557 special licenses;
Copper reserves - 69.9 million tons
Coal 33.4 billion tons
Iron ore 1.84 billion tons
Gold 448.1 tons
Uranium 192 thousand tons and
Mongolia has Oil reserves of 332 million tons.

Government and Rio Tinto Will Implement Renewable Energy and Irrigation Projects in Gobi www.montsame.mn
On July 10, 2023, the Prime Minister of Mongolia L. Oyun-Erdene received the Chairman of the Board of Directors of the Rio Tinto Group Dominic Barton, who is participating in the "Mongolia Economic Forum-2023" under the slogan "Welcome to Mongolia."
At the beginning of the meeting, Prime Minister L. Oyun-Erdene expressed his gratitude for the participation and high significance the management of the Rio Tinto Group attaches to the Mongolia Economic Forum-2023. “The participants of Mongolia Economic Forum appreciated the speech you presented today. Rio Tinto is a visionary company and I am confident that the project implemented in our country will be successful."
Dominic Barton, Chairman of the Board of Directors of the Rio Tinto Group, noted that the "Vision 2050" document implemented by the Government of Mongolia is a road map that clearly shows what we are aiming for in the future, so we must contribute as an active and responsible company. It does not have to be just the mining industry. Mongolia has full potential to create a diversified and sustainable economy. By 2028, Oyu Tolgoi will produce 500,000 tons of copper per year. That is enough copper to produce six million electric cars a year. He said that by 2030, Oyu Tolgoi is expected to become the fourth largest copper mine in the world, and expressed intention to cooperate in the long term.
The parties agreed to jointly implement renewable energy and irrigation projects in the Gobi region.

Mongolia Fully Complies with 40 FATF Recommendations www.montsame.mn
The 26th Annual Meeting of the Asia/Pacific Group on Money Laundering is being held in Vancouver, Canada on July 9-14, 2023.
Deputy Minister of Justice and Internal Affairs B. Solongoo is leading the Mongolia Progress Report Defense Team, which consists of represenatives of the Ministry of Justice and Internal Affairs, Bank of Mongolia, Financial Information Service, Financial Regulatory Commission, State General Prosecutor's Office, Office of the National Counter-Terrorism Council, and General Department of Taxation.
Mongolia was released in October 2020 from the Financial Action Task Force (FATF) list of countries lacking strategies to combat money laundering and terrorist financing, or the Gray List, and is obliged to implement the 40 Recommendations issued by FATF, i.e. international standards for combating money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.
On July 13, 2023, the Asia/Pacific Group on Money Laundering discussed and approved Mongolia's progress report in respect of the technical implementation of "Recommendation 8" related to non-profit organizations of FATF's 40 Recommendations. According to FATF's "Recommendation 8," member states are responsible for preventing the risk of non-profit organizations being used to finance terrorism and meeting the relevant requirements. At the meeting, the evaluation of technical implementation of "Recommendation 8," which had previously been rated as "half-implemented," was successfully upgraded to "fully implemented."
Thus, by improving the rating of "Recommendation 8," Mongolia has become the first country in Asia and the Pacific to fully comply with the 40 FATF Recommendations (according to the updated rating of Recommendation 15), and the fifth country in the world. At the meeting, they underlined Mongolia's success, and pointed out significant progress in the measures undertaken in the field of combating money laundering and terrorist financing. The National Council for Combating Money Laundering and Terrorist Financing is headed by Kh. Nyambaatar, Member of the State Great Khural, Minister of Justice and Internal Affairs, and requires the cooperation and coordination of public and private organizations.
For Mongolia, the assessment of full compliance with the 40 Recommendations of the FATF is a confirmation from many countries that Mongolia has created a legal environment, reflected the relevant requirements in legislation, and improved regulations.

The Conservation Trust Fund will be established in Mongolia www.gogo.mn
The Ministry of Environment and Tourism (MoET) and The Nature Conservancy (TNC) jointly held a press conference and announced the establishment of the Conservation Trust Fund in Mongolia publicly.
The Conservation Trust Fund is being established by the Government of Mongolia in cooperation with international organizations to mobilize and manage resources and implement long-term conservation programs under the sustainable development framework.
“The Conservation Trust Fund will accelerate our conservation efforts for the protection of biodiversity and adaptation to climate change, including reducing greenhouse gas emissions by 22,7% by 2030, as set out in our National Determined Contributions, and to create a new sustainable financial system for the conservation sector in Mongolia. It will also help us to achieve the national commitments, such as the sustainable development goal – 2030 targets and vision – 2050, Mongolian long-term development targets,” said B. Bat-Erdene, Minister of Environment and Tourism.
According to a study conducted by the UNDP, 44.4% of the total cost of nature protection comes from the state budget, and the remaining 55.6% comes from international donations and aid, salaries and other operational expenses account for about 80% of the total spending of the national protected areas, while the expenses for conservation measures are still insufficient. Therefore, the Conservation Trust Fund is crucial to be established to mobilize and manage resources through a varied range of funding sources, including bi and multilateral donors, private foundations, private companies’ donations, public budget, proceeds of investments, proceeds of financial mechanisms, etc.
“CTF is an independent, legally established system of funding to achieve long-term conservation goals. For this fund, the TNC is committing with donors to secure US$71 million through Project Finance for Permanency. Conservation Trust Funds have been rapidly growing internationally over the past 20 years. Internationally, a total of 108 trust funds have been established, and more than 60 of them are stabilized and strengthened over time, and they manage assets of about 2 billion US dollars,” said Jeffrey Parrish, a Global Managing Director for Protect Oceans, Lands, and Water at the TNC.
Following international best practices, the Mongolia CTF will adopt detailed policies and procedures for transparent and inclusive grantmaking; robust and science-based monitoring; technical and audited financial reporting; and development of new financial solutions to increase funding for conservation. The fund was designed to be a permanent player in Mongolia, to fully finance the network of specially protected areas, and support the implementation of the country’s public policies, obligations, and commitments under international agreements.
The Mongolia CTF is part of the Eternal Mongolia initiative, a Project Finance for Permanence (PFP) project coordinated by the government and TNC. The fund establishment counted on the support and inputs of multiple partners, including the German Gesellschaft für Internationale Zusammenarbeit (GIZ) Mongolia, the Wildlife Conservation Society (WCS), the Biodiversity Foundation, UNDP – BIOFIN, the civil society council; and the government agencies, the Ministry of Finance, the Ministry of Environment and Tourism, the Ministry of Economy and Development, the Bank of Mongolia, and Financial Regulatory Commission.
CTFs are independent, non-governmental, non-profit legal entities that manage conservation funding streams and make grants to implement conservation activities that support biodiversity protection, restoration, conservation, and sustainable development. They bring together multiple stakeholders under their governance system, including government, private sector, NGOs, and community representatives.
The Mongolia CTF is to be launched this month.

Mongolia launches SDG Investor Map to unlock sustainable investment opportunities www.undp.com
Today, during the Mongolia Economic Forum 2023, the Ministry of Economy and Development and UNDP jointly unveiled the Mongolia SDG Investor Map. This pioneering tool serves as a market intelligence resource aimed at channeling capital towards Mongolia's development priorities and Sustainable Development Goals (SDGs) leveraging UNDP’s SDG Impact robust methodology.
The SDG Investor Map has been created to spearhead potential investment into the sectors that have been identified as having a funding gap for bringing deep development impact. The launch of the SDG Investor Map is particularly crucial as financial resources have been redirected to address global crises, posing challenges in mobilizing funds for Mongolia's development priorities.
According to UNDP (2022), Mongolia would need an additional expenditure of US$ 44.2 billion (MNT 126 trillion) or 17% of GDP annually until 2030 to achieve the national targets of the SDGs.
The SDG Investor Map for Mongolia, joins over 30 other SDG Investor Maps listed globally on the SDG Investor Platform, has pinpointed 14 Investment Opportunity Areas (IOAs) that cover themes and business models across six sectors: Food and Beverage, Health Care, Services, Infrastructure, Renewable Resources and Alternative Energy and Finance. Additionally, the SDG Investor Map identifies 12 areas within five sectors that possess growth potential and align with Mongolia’s development priorities. Following the launch of the SDG Investor Map, UNDP and the Ministry of Economy and Development, together with partners, will organize a series of events to bring together investors, companies, and policymakers to accelerate capital towards the identified areas to provide stakeholders with a platform to collaborate and realize investment solutions.
“Mongolia recognizes the importance of the private sector role and contribution in achieving national development plans, including Vision 2050 and the New Recovery Policy to increase national productivity by improving transport logistics, energy production, industrialization, urban and rural infrastructure, and green development. As we address trade issues and post-pandemic challenges, we promote value-added production and attract efficient investments where the SDG Investor Map plays a crucial role to identify investment opportunities aligned with the Sustainable Development Goals.” said His Excellency Khurelbaatar Chimed, Deputy Prime Minister and Minister of Economy and Development.
The Map not only highlights sectors with significant potential for sustainable development but also serves as a cornerstone for engaging in discussions on policy-level measures aimed at enhancing the ecosystem to facilitate private investors in raising capital in these areas.
Ms. Lin Cao, Deputy Resident Representative of UNDP Mongolia, added “Mongolia's potential to attract international sustainable finance offers a promising avenue to address many of the development challenges including climate change, gender inequality, digital transformation and to accelerate the progress on the SDGs. The launch of the SDG Investor Map, in collaboration with the Ministry of Economy and Development, presents an exciting opportunity to not only amplify businesses' efforts in environmental, social, and governance practices but also integrate sustainability and gender equality into their core operations, while also attracting direct investments towards ventures aligned with the SDGs.”
The market intelligence generated by the SDG investor Map offers valuable advantages to private sector investors seeking sustainable investment opportunities. This comprehensive work equips both private and public sector stakeholders with crucial data necessary for adopting an evidence-based approach to effectively channel capital towards areas that present the greatest opportunities and fulfill the country's developmental needs.
Ms. Fabienne Michaux, Director of SDG Impact, concluded, “We are delighted to have launched yet another SDG Investor Map, this time for Mongolia with the support of the Ministry of Economy and Development. Mongolia has taken meaningful strides to improve its economy for its people and environment. However, like many countries, the global crises have not only stalled government strategic plans for growth but set development backwards. We applaud the Government of Mongolia for its commitment to build forward with sustainability and the SDGs at the heart of development by using the market intelligence generated by the Mongolia SDG Investor Map.”
About UNDP
As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. Our work is concentrated in three focus areas; sustainable development, democratic governance and peace building, and climate and disaster resilience. Learn more at www.undp.org/mongolia or follow us at @UNDPMongolia
About SDG Impact
SDG Impact is a UNDP Sustainable Finance Hub flagship initiative, working to accelerate private sector contributions towards sustainability and the achievement of the Sustainable Development Goals (SDGs) by 2030. Its aim is to make it easier for organizations to place sustainability, the SDGs and managing for impact at the core of business and investment purpose, how value is created, and how capital is allocated through its SDG Impact Standards and the SDG Investor Maps.

President Japarov off to Mongolia on state visit www.akipress.com
President Sadyr Japarov has left for Ulaanbaatar upon invitation of Mongolian President Ukhnaagiin Khurelsukh.
During his state visit, President Japarov will hold bilateral talks with the Mongolian President, Prime Minister Luvsannamsrain Oyun-Erdene, Chairman of State Khural Gombojavyn Zandanshatar.
Several other high-level events and visits to industrial enterprises is planned.
The President is joined on this visit by his spouse Aigul Japarova, Foreign Minister Jeenbek Kulubaev, Deputy Chairman of Cabinet of Ministers Edil Baisalov, Chief of Foreign Policy Diviosn of President's Administration Muratbek Azymbakiev, Ambassador of Kyrgyzstan Aibek Artykbaev, Minister of Culture, Information, Sport and Youth Policy Altynbek Maksutov, Minister of Transport and Communications Tilek Tekebaev, Minister of Economy and Commerce Daniyar Amangeldiev, National Investment Agency Director Umbriel Temiraliev, Bishkek Mayor Emilbek Abdykadyrov, Deputy Minister of Agriculture Samat Nasirdinov, Deputy MInister of Natural Resources, Ecology and Technical Supervision Emil Osmonbetov.

Cardinal Marengo: Church in Mongolia will treasure Pope's visit www.vaticannews.va
As Mongolia prepares to welcome Pope Francis early in September, the Apostolic Prefect of Ulaanbaatar, Cardinal Giorgio Marengo, says the visit is an historic event that the young Mongolian Church will treasure.
He was invited to visit the country on August 24, 2022, when a delegation from the Mongolian government visited the Vatican and handed him an official invitation from the Mongolian President, Ukhnaagiin Khürelsükh.
A young Church
Presenting the official programme, motto and logo of the papal journey on Friday, the Italian Consolata missionary said the visit would have been “unthinkable” only a few months ago.
Pope Francis will be the first-ever Pope to visit the Buddhist nation where the Church started from nothing in 1992, following the fall the Communist regime.
In that year the first Catholic missionaries of the Congregation of the Immaculate Heart of Mary (CICM), also known as Scheut Missionaries, returned to rebuild the Church after nearly seventy years of religious repression.
Since then, the Catholic population has grown slowly, but steadily. Today there are some 1,450 baptized Mongolian Catholics (as against only 14 in 1995) distributed in nine parishes, on a total population of some three and a half million inhabitants. They are served by 29 priests, including two Mongolians, over 40 women religious and three men religious belonging to a dozen congregations and of 27 different nationalities, and three lay missionaries.
Pope St. John Paul II’s plans to visit Mongolia in 2003
During the press conference in Ulannbataar - reported Fides news agency - Cardinal Marengo recalled that Pope Saint John Paul II had already planned to visit Mongolia in 2003, after elevating the then Mission of Ulaanbaatar to the status of Apostolic Prefecture a year earlier, but the plan was cancelled due to his worsening health conditions.
"And now here we are”, he said “20 years later, and about 800 years after the first direct contact between the Holy See and the Mongol emperors, when Pope Innocent IV sent his envoy, the Franciscan Giovanni di Pian del Carpine to personally meet the famous Mongols and start a peaceful dialogue."
Remembering late Bishop Wenceslao Padilla
The 49-year-old Cardinal, who first arrived in Mongolia in 2003, also recalled his predecessor, late Bishop Wenceslao Padilla, the first pioneer priest leading the CICM missionaries in 1992, and the first Apostolic Prefect of Ulan Bataar: "We are yielding the fruits of his great missionary work and of many other missionaries, and we are preparing - also in their name - for this historic event", he said.
Illustrating the meaning of the logo and the motto of papal journey, "Hoping Together", Cardinal Marengo focused on the implications of the papal journey for interreligious dialogue in the country.
The importance of the visit for interreligious relations in Mongolia
Relations with other Mongolian faith communities, and in particular with the local the Buddhist religious authorities, are good and rooted in the ancient tradition of tolerance and openness dating back to Emperor Chinggis Khaan. This was confirmed during the first official visit to the Vatican of a high-level delegation of Buddhist monks from Mongolia on May 28 ,2022, when they met Pope Francis.
Since the establishment of diplomatic relations with the Holy See in 1990, also relations with the civil authorities have continued to grow stronger, as indicates the agreement signed in 2020 by the Mongolian Ambassador to the Holy See and Archbishop Paul Richard Gallagher, Vatican Secretary for Relations with States and International Organizations to extend their collaboration in the cultural field.
The Church’s social work in Mongolia
Mongolian authorities have shown a particular appreciation for the social work carried out by the Church in the country for the poorest and most vulnerable.
On 4 September, the last day of his Apostolic Journey, Pope Francis is scheduled to meet local Church charity workers and will inaugurate the House of Mercy a charity a charity facility including a clinic designed to respond to the immediate needs of homeless people and victims of domestic violence.
According to the Apostolic Prefecture, the centre “represents one of the first major projects launched by the native Catholic Church in a country where missionary works have supported the faith". There is no doubt, remarked Cardinal Marengo, that the Church in Mongolia will be able to treasure the experience of welcoming the Successor of Peter, "growing in that genuine sense of being a single body, well rooted in the country".

Mongolia Grants Licenses to SpaceX for High-Speed Internet Service via Starlink Satellites www.telecomtalk.info
The Mongolian government has announced the granting of two licenses to Elon Musk's SpaceX, allowing the company to operate as an internet service provider in the country, said a Reuters report. This move will enable millions of internet users in Mongolia to access high-speed connectivity through Starlink, the satellite communications service operated by SpaceX.
Starlink has established an impressive network of over 3,500 satellites in low-Earth orbit, offering connectivity even in remote areas. While Mongolia already has widespread access to high-speed internet through a network of fiber optic cables, the addition of Starlink's technology will greatly enhance connectivity in hard-to-reach regions.
Uchral Nyam-Osor, the Minister for Digital Development and Communications, expressed the benefits of this collaboration, stating that herders, farmers, businesses, and miners across Mongolia will now have access to global information, improving their lives and productivity.
The formal cooperation between the Mongolian government and SpaceX began earlier this year during the Mobile World Congress held in Barcelona. Last month, Prime Minister L. Oyun-Erdene held a virtual meeting with Elon Musk to discuss potential investment and cooperation in the electric vehicle sector. Mongolia, with its abundant reserves of rare earth minerals and copper, plays a crucial role in the electric vehicle supply chain.
With these licenses granted, SpaceX's Starlink will empower Mongolians with enhanced internet access and bridge the digital divide, ensuring that even remote areas can benefit from high-speed connectivity. This collaboration between the Mongolian government and SpaceX marks an important step forward in leveraging advanced technology to drive progress and improve the lives of people across the country.
SpaceX wants to become a global internet service provider with the help of Starlink and has already started making a big impact in many countries with its services. The next big target market for the company is India, where billions of people await the arrival of satellite internet.

Mongolia Economic Forum-2023 Launches www.montsame.mn
"Mongolia Economic Forum-2023" has started today at the State Palace. About 1,700 domestic and foreign guests are participating in this Forum, which is being held under the slogan "Welcome to Mongolia."
Prime Minister of Mongolia L. Oyun-Erdene opened the Forum with welcoming remarks, and the Chairman of the State Great Khural G. Zandanshatar delivered the keynote speech. Vice President of Asian Development Bank Ashok Lavasa delivered the keynote address. The plenary session of the Forum will be on the topic "Sustainability of Mongolia’s development policy."
This forum is being held under the expectation of economic growth of Mongolia. The rapid economic growth of Mongolia after the global "Covid-19" pandemic will be highlighted.
In 2022, Mongolia's economy grew by more than 4 percent, and it is expected to grow in 2023 and 2024.
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