Ulaanbaatar Hosts CAREC Transport Sector Coordinating Committee Meeting www.montsame.mn

Ulaanbaatar, June 8, 2026 /MONTSAME/. The 23rd meeting of the Transport Sector Coordinating Committee of the Central Asia Regional Economic Cooperation (CAREC) Program is taking place on June 8-9 in Ulaanbaatar.

Opening the two-day meeting, Minister of Road and Transport Delgersaikhan Borkhuu said that over the past 25 years, the CAREC Program has become an effective platform for expanding regional economic cooperation, improving transport connectivity, facilitating trade, and implementing major infrastructure projects.

He noted that amid the ongoing transformation of global trade, supply chains, and transport flows, Central Asia is gaining renewed strategic importance. Geopolitical shifts, supply chain disruptions, and changing transport patterns are increasing the need for countries to establish more reliable, resilient, and diversified transport networks.

“As a landlocked country, Mongolia views the CAREC corridors as a vital gateway for foreign trade and transport, as well as an economic lifeline. The Government of Mongolia is pursuing its goal of becoming a ‘Transit Mongolia’ by leveraging its strategic location between Asia and Europe and developing into a regional hub for transport, trade, and services,” the minister said.

Participants will discuss the midterm review of the CAREC Transport Strategy 2030, planned activities for 2026, regional transport modeling, supply chain analysis, and the operation of transport and logistics centers. Sectoral sessions are also being held on cross-border transport, civil aviation, road and railway transport, water transport, logistics, road safety, smart mobility, and digital transformation.

During the meeting, Mongolia presents reports on “Establishing a Unified International Motor Transport Insurance System at the Regional Level” and “Road Safety and Road Asset Management in Mongolia.” Participants are exchanging views on regional cooperation, transport policy reforms, and sustainable development, while discussing the implementation of priority transport programs among CAREC member countries and future cooperation and investment opportunities.

Mongolia has established the legal framework necessary to conduct direct international road transport operations with 25 countries. Under its “Transit Mongolia” policy, the country is also working to strengthen cooperation within the Mongolia–Russia–China Economic Corridor and position itself as a key overland transport hub in Central Asia.

The ministry noted that Mongolian transport operators accounted for only one percent of TIR transport operations in 2016, but their share had increased to 47% by 2025, with the number of shipments rising from 56 to 4,711.

In the railway sector, Mongolia is implementing the Zuunbayan–Khangi railway and the western and eastern railway corridor projects to create new routes for export and transit freight. Efforts are also underway to expand the capacity of strategic border crossings such as Zamiin-Uud and Altanbulag and to facilitate transport and logistics operations.

In civil aviation, Mongolia is pursuing an air transport liberalization policy and preparing for direct flights to the United States and European Union countries. Airports in Khovd, Umnugobi, Khuvsgul, and Bayan-Ulgii aimags are also being upgraded to accommodate direct international flights.

Minister Delgersaikhan further announced that Mongolia has formally submitted to the United Nations its proposal to establish a unified international transport insurance system across the Asia-Pacific region, aimed at reducing regional transport risks and ensuring the reliability of cross-border transportation.

This year marks the 25th anniversary of the CAREC Program. As the host country of CAREC activities in 2026, Mongolia is organizing the meeting in Ulaanbaatar. The event has brought together representatives from the program’s 11 member countries, the Asian Development Bank, international financial institutions, development partners, and stakeholders from the transport and logistics sectors.

In May alone, Mongolia was visited by 84,035 foreign tourists www.open.kg

In the first five months of 2026, Mongolia welcomed 292,063 foreign tourists, which is 32% more compared to the same period in 2025, reports the Ministry of Culture, Sports, Tourism, and Youth of the country. This growth indicates a rising interest in Mongolia as a tourist destination.

According to statistical data, the number of visitors increased by 71,935 people. The main source countries of tourists were Russia (117,498), China (87,714), South Korea (27,837), Japan (9,631), and Germany (6,817). In May 2026, the country was visited by 84,035 tourists, which is 26% higher than the figures for May of the previous year.

Tourism Development in Mongolia

The government of Mongolia views tourism as an important sector for diversifying the economy, which has traditionally depended on the mining industry. However, the tourism industry faces seasonal challenges due to harsh climatic conditions, including long winters and short summers.

To address these issues, the authorities are actively developing year-round tourism. As part of this strategy, the "Years to Visit Mongolia" program has been extended until 2028, aiming to attract at least 1 million foreign tourists annually. In 2025, the country was visited by 846,103 foreign tourists, which is 5% more than in 2024.

Mongolia Faces Demand for 82,600 New Workers in 2026 www.insidemongolia.mn

Temporary facilities completed in ahead of UN COP17 conference www.gogo.mn

Preparations for the 17th Conference of the Parties to the United Nations Convention to Combat Desertification (COP17) have reached a major milestone as Ulaanbaatar completes the construction of 12 temporary venue facilities. Newly appointed Capital Governor and Mayor of Ulaanbaatar B.Purevdagva confirmed that critical utility networks, including electricity, water, sewage, and high-speed fiber optics, are fully installed and operational.

The sprawling temporary complex was constructed by the French-based main contractor GL Events Live, with support from local and international subcontractors NBIK and LIRI Group. These facilities will serve as the operational heart of the summit, hosting plenary sessions, official state negotiations, high-level ministerial meetings, media centers, and exhibition spaces.

In tandem with the venue assembly, the city is rapidly completing broader infrastructure and greening initiatives. Roadway and parking developments surrounding the site are currently 80% finished, with western lot paving actively underway. Furthermore, dedicated bicycle paths are 98% complete. As part of a massive exterior landscaping effort aligned with the summit's environmental focus, city crews are planting 4,500 new trees of nine different species and safely transplanting an additional 100 mature trees.

Scheduled to take place on August 17-28, COP17 is projected to bring between 8,000 and 10,000 international delegates from 196 countries to the Mongolian capital. Mayor B.Purevdagva underscored the critical nature of the event, noting that the global forum will extend beyond standard government negotiations. Instead, it will function as a comprehensive, multi-stakeholder platform uniting policymakers, scientists, businesses, and civil society to forge actionable solutions on global land degradation, sustainable rangeland management, and climate change adaptation.

Ulaanbaatar Dialogue: From Peacebuilding to Artificial Intelligence www.zms.mn

The 11th Ulaanbaatar Dialogue on Northeast Asian Security opened in Mongolia's capital on Wednesday, bringing together more than 300 participants from around 40 countries and international organizations.

Launched in 2014 following an initiative proposed by Mongolia's President in 2013, the annual forum has become an important platform for dialogue on regional security, diplomacy, and cooperation.

In a video message to the conference, United Nations Under-Secretary-General Mohamed Khaled Khiari described Northeast Asia as a strategically important yet highly sensitive region. He noted that Mongolia's efforts to host the dialogue continuously for more than a decade demonstrate that even small and medium-sized countries can make meaningful contributions to regional peace and security.

Participants at this year's conference include government officials, diplomats, scholars, and policy experts from across Asia, Europe, North America, and the Middle East. Discussions are focused on a wide range of issues, including regional security challenges, preventive diplomacy, artificial intelligence, connectivity between Northeast and Central Asia, and the development of a green energy corridor.

Against a backdrop of growing geopolitical uncertainty, many participants emphasized the importance of maintaining channels for dialogue and cooperation. Mongolian Foreign Minister Battsetseg Batmunkh noted that the conference is taking place during a period of transition in the international order.

According to her, participation has increased significantly and the level of representation continues to rise. She highlighted artificial intelligence as one of the central themes of this year's dialogue, describing it as both an opportunity and a challenge.

"Participants will exchange experiences on how artificial intelligence is being used in the security sector and present their research findings. For Mongolia, this is an opportunity to learn from international experience, particularly as our legal and regulatory framework in this area remains underdeveloped," she said.

The minister also stressed the growing importance of the global energy transition. While Mongolia possesses significant natural resources and renewable energy potential, she argued that the country must become more actively involved in regional initiatives. In particular, she pointed to opportunities related to a potential green energy corridor linking China and Central Asia.

One of the conference's distinguished guests was South Korean Minister of Unification Chung Dong-young. Speaking to journalists, he praised Mongolia's contribution to peace and security through its neutral and dialogue-oriented foreign policy.

According to Chung, Northeast Asia is one of the world's most interconnected regions economically and socially, yet political and security cooperation has lagged behind. He argued that the region still lacks a sustainable mechanism capable of promoting long-term peace and trust.

"The Ulaanbaatar Dialogue is an important platform not only for Northeast Asia but also for Mongolia's neutral diplomacy. Mongolia continues to play a valuable role in promoting peace and regional stability," he said.

Chung also reaffirmed the new South Korean administration's commitment to peaceful coexistence on the Korean Peninsula. Referring to the Greater Tumen Initiative (GTI), he noted that both China and Russia have expressed support for revitalizing the regional cooperation framework and said South Korea shares that position.

Artificial intelligence emerged as one of the most widely discussed topics throughout the conference. While the technology is already transforming sectors such as education, healthcare, manufacturing, and public services, participants also highlighted growing concerns related to cybersecurity, misinformation, privacy, and governance.

Olli Ruohomäki, Senior Research Fellow at the Finnish Institute of International Affairs, argued that governments must continue learning how to regulate and utilize artificial intelligence responsibly.

"Countries need to work together to develop appropriate regulatory frameworks and learn how to use artificial intelligence effectively," he said.

Ruohomäki also pointed out that while Europe has the European Union and Southeast Asia has ASEAN, Northeast Asia lacks a similarly developed regional mechanism. In his view, the Ulaanbaatar Dialogue provides a rare opportunity for countries in the region to meet, exchange views, and strengthen mutual understanding.

Another participant, Professor Yoko Iwama of Japan's National Graduate Institute for Policy Studies, said the conference has become increasingly valuable as geopolitical tensions make communication between countries more difficult.

"This is my second time attending the Ulaanbaatar Dialogue, and I am impressed by both the diversity of participants and the quality of discussions. It is becoming increasingly difficult to communicate and travel between some countries in the region, so this forum offers an important opportunity to maintain contacts and build relationships," she said.

Iwama described the current geopolitical environment as highly challenging, particularly as the roles of major powers continue to evolve. She argued that middle powers such as Japan and South Korea, as well as smaller countries like Mongolia, have an important responsibility to support and strengthen the rules-based international order.

As global competition intensifies and new security challenges continue to emerge, this year's Ulaanbaatar Dialogue has expanded beyond traditional security issues. Discussions now encompass artificial intelligence, energy transition, regional connectivity, and diplomacy, reflecting the increasingly complex nature of security in the 21st century.

By B.Nyamsuren

ETT JSC to develop Borteeg coal deposit independently after foreign bids fall short www.gogo.mn

The Government of Mongolia has announced that the state-owned enterprise "Erdenes Tavantolgoi" (ETT) JSC will independently develop the strategic Borteeg coal deposit. The decision follows a cabinet ruling that none of the international investment proposals met the state's strict requirements. The government had previously issued an open call for international bids to invest in and develop the site, setting a submission deadline of March 23, 2026.

The bidding process drew significant interest, attracting proposals from seven domestic and foreign enterprises and consortiums. Applicants were required to submit advance payment proposals ranging from USD 500 million to USD 1 billion. Additionally, all bidders had to agree to a mandatory framework ensuring that Mongolia retains at least 51% of the project's economic benefits.

A specialized working group, led by First Deputy Prime Minister and Minister of Economy and Development J.Enkhbayar, evaluated the applications using a 1,000-point scoring system. Bidders were required to score above 700 points to qualify for final contract negotiations. Following initial evaluations and subsequent online consultations to refine the bids, three major Chinese corporations successfully advanced to the final stage: China Energy, Baowu Resources, and China Risun Group.

Despite advancing to the final stage, negotiations ultimately stalled. During the cabinet meeting, Deputy Prime Minister J.Enkhbayar confirmed that the final refined proposals from the shortlisted foreign firms failed to fully satisfy the government's criteria. J.Enkhbayar stated that while seven foreign and domestic enterprises originally submitted proposals meeting the initial 700-point threshold, their final offers did not meet specific state requirements, prompting the directive for Erdenes Tavantolgoi JSC to manage the deposit independently.

The cabinet concluded that Mongolia has successfully established sufficient domestic capacity in core mining operations, including stripping, exploration, drilling, and blasting. ETT will now partner with national subcontractors to spearhead development at Bortee, a move aimed at boosting the country's total coal exports while keeping operations entirely within the national framework.

The Borteeg deposit is a key component of the larger Tavantolgoi group, one of the world's largest untapped coking coal formations located in the Tsogttsetsii soum of Umnugovi province. The wider complex consists of six sections: Tavantolgoi, East and West Tsankhi, Ukhaa Khudag, Borteeg, Sereet, and Bayangol. The regional mining portfolio also includes the Olon-Ovoot gold deposit, located in the neighboring Mandal-Ovoo soum.

250 Years of US Independence Celebrated at Sukhbaatar Square www.montsame.mn

American Days, dedicated to the 250th anniversary of U.S. independence, were held at Sukhbaatar Square from June 6 to 7, 2026.

Opening the event, U.S. Ambassador to Mongolia Richard L. Buangan said, “As we celebrate the 250th anniversary of the Declaration of Independence, we not only reflect on the ideas of our founding fathers, but also review our cooperation with other countries such as Mongolia, and consider our nation’s diplomatic activities and global influence. The 250th anniversary is not just a reflection of the past—it is a foundation for the future.” He also emphasized that the United States is defining a new era of diplomacy that will guide the next 250 years by building new partnerships and supporting innovation.

During the event, visitors have the opportunity to explore U.S. innovations and products, as well as enjoy public activities such as cultural and artistic performances and a “Spider-Man” parade. Highlights also include an American falcon show, presentations by the Embassy and its partners, a business networking session by the American Chamber of Commerce in Mongolia (AmCham), an open training session by the Mongolian American Football Federation, and a 3x3 basketball tournament for youth under 14.

EBRD and EU support youth entrepreneurship in Mongolia www.ebrd.com

The European Bank for Reconstruction and Development (EBRD) is continuing to create growth opportunities for micro, small and medium-sized enterprises (MSMEs) in Mongolia by organising a financing facility to leading Mongolian lender XacBank.

The EBRD’s loan of up to US$ 80 million (€68 million) will be extended under the EBRD’s Youth in Business (YiB) programme in Central Asia and Mongolia, targeting MSMEs that are led or owned by individuals under the age of 35.

This project is supported by a guarantee of up to €3.45 million from the European Union (EU) under the Global Gateway – its external investment strategy for sustainable development. The loan will be complemented by advisory support and practical training for MSMEs to strengthen their operations, with a focus on innovative digital solutions and financial management. This advisory component is also supported by the EU.

According to official data, more than 60 per cent of Mongolia’s population is aged 35 or under. This young generation represents a dynamic, technically and digitally skilled workforce that will need new job opportunities in the coming years. Creating these opportunities is one of the EBRD’s strategic priorities.
The EBRD has invested more than US$ 3 billion (€2.6 billion) in Mongolia’s economy through 166 projects to date. Around 90 per cent of this funding has been used to support private-sector companies.

"Erdenes Mongol" and the IMF Discussed Cooperation in Wealth Fund Management and Corporate Governance www.open.kg

The Government of Mongolia has initiated the reorganization and expansion of the ‘Erdenes Mongolia’ association, which will become a financial institution responsible for asset management, the wealth fund, as well as conducting IPOs and privatization. This was reported by the Ulaanbaatar news portal UBN.

The General Director of ‘Erdenes Mongolia’, Davaadalai Batsuuri, met with the IMF Resident Representative in Mongolia, Tigran Poghosyan. During the discussion, the parties explored opportunities for cooperation to improve the management of the wealth fund, enhance transparency, and implement best corporate practices.

It should be noted that the IMF has previously provided advisory support to funds such as the Government Pension Fund Global from Norway, which is considered one of the most successful in the world, as well as the ‘Samruk-Kazyna’ fund of the Republic of Kazakhstan.

Unification Minister Chung Delivers Special Speech at Ulaanbaatar Dialogue www.chosun.com

Unification Minister Chung Dong-young will deliver a special speech at the 11th ‘Ulaanbaatar Northeast Asia Security Dialogue’ to be held in Ulaanbaatar, Mongolia, on the 4th.

The Ministry of Unification announced on the 3rd that Minister Chung will visit Mongolia on a three-night, four-day schedule from that day until the 6th. This marks the first time a Minister of Unification has visited Mongolia and attended the ‘Ulaanbaatar Dialogue.’

The ‘Ulaanbaatar Dialogue’ is a multilateral security dialogue in Northeast Asia hosted by the Mongolian government since 2014. It is a regular international conference that comprehensively addresses traditional and non-traditional security issues in Northeast Asia, including security, energy, and the environment. It is a 1.5-track dialogue involving government officials, academics, and representatives from international organizations within the region.

Minister Chung is scheduled to deliver a ‘special speech’ at the opening ceremony on the first day of the conference. A source from the Ministry of Unification stated, “The Mongolian government has requested participation multiple times since the beginning of the year,” adding, “During his two-day stay in Mongolia, Minister Chung Dong-young plans to hold meetings with key Mongolian government and parliamentary officials to garner support and empathy for the Korean Peninsula peace and coexistence policy and to discuss various cooperation measures with Mongolia in this regard.”

Approximately 250 participants from 25 countries have confirmed their attendance at this ‘Ulaanbaatar Dialogue.’ Whether North Korea will attend remains unknown. Mongolia is a country that has established diplomatic relations with both South and North Korea. Since establishing diplomatic ties in 1948, Mongolia and North Korea have maintained a friendly cooperative relationship as socialist states. Kim Il-sung visited Mongolia in 1956 and 1988, and Mongolian party secretaries visited North Korea in 1958 and 1986. High-level personnel exchanges between the two countries have continued, including a visit to North Korea by Mongolian President Tsakhiagiin Elbegdorj in 2013 and a visit to Mongolia by a North Korean foreign ministry delegation in March 2024.

Due to the friendly relationship between Mongolia and North Korea, there are discussions about Mongolia mediating inter-Korean and U.S.-North Korea dialogues through this ‘Ulaanbaatar Dialogue.’ This is because past U.S.-North Korea and Japan-North Korea contacts have been facilitated in Mongolia through the ‘Ulaanbaatar Dialogue.’

If North Korea attends, there is interest in whether behind-the-scenes contacts between the two Koreas and between the U.S. and North Korea could occur through the ‘Ulaanbaatar Dialogue.’ North Korea participated in the ‘Ulaanbaatar Dialogue’ from 2014 to 2018 but has not attended since 2019. In 2017, Ri Yong-pil, Deputy Director of the American Studies Research Institute at the Foreign Ministry, attended, and in 2018, Kim Yong-guk, Director of the Disarmament and Peace Research Institute at the Foreign Ministry, participated.

A source from the Ministry of Unification stated, “If there is a natural opportunity to contact the North Korean side during the ‘Ulaanbaatar Dialogue,’ we plan to use that opportunity to explain our government’s commitment to the Korean Peninsula peace and coexistence policy and to urge the necessity of inter-Korean dialogue for peace and coexistence on the Korean Peninsula.”