1 14TH MBD MISSION FOR MBCC'S "DOING BUSINESS WITH MONGOLIA SEMINAR & CHRISTMAS RECEPTION" AND BUSINESS PROGRAM DEC 08- 14. 2025 LONDON, UK WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2025/09/16      2 IMF WRAPS UP 2025 ARTICLE IV TALKS WITH MONGOLIA WWW.IMF.ORG PUBLISHED:2025/09/16      3 POSCO INTERNATIONAL TO LAUNCH WASTEWATER HEAT DISTRICT HEATING PROJECT IN MONGOLIA WWW.CM.ASIAE.CO.KR  PUBLISHED:2025/09/16      4 MONGOLIA'S EXTERNAL DEBT UP 12.7 PCT IN Q2 2025 WWW.NEWS.AZ PUBLISHED:2025/09/16      5 2025 AUTUMN SESSION OF THE STATE GREAT KHURAL COMMENCES WITH STRUCTURAL REFORMS WWW.MONTSAME.MN PUBLISHED:2025/09/16      6 MONGOLIA SURPASSES 617,000 TOURIST ARRIVALS BY MID-SEPTEMBER 2025 WWW.MONTSAME.MN PUBLISHED:2025/09/16      7 ODD-EVEN TRAFFIC RESTRICTION CONCLUDES WWW.UBPOST.MN PUBLISHED:2025/09/15      8 MMC ANNOUNCES FIRST GOLD POUR COMPLETED AT THE BAYAN KHUNDII MINE IN MONGOLIA WWW.SG.FINANCE.YAHOO.COM  PUBLISHED:2025/09/15      9 MKE LAUNCHES CARTRIDGE PRODUCTION LINE IN MONGOLIA WWW.RAILLYNEWS.COM  PUBLISHED:2025/09/15      10 MONGOLIA’S LARGEST MINING EVENT HIGHLIGHTS INVESTMENT AND RESPONSIBLE MINING WWW.MONTSAME.MN PUBLISHED:2025/09/14      14 ДЭХЬ УДААГИЙН MBCCI’S “ DOING BUSINESS WITH MONGOLIA SEMINAR & CHRISTMAS RECEPTION” B2B NETWORKING БОЛОН БИЗНЕС ХӨТӨЛБӨР 2025 ОНЫ 12 САРЫН 08 -13 ЛОНДОН ХОТ, ИХ БРИТАНИ WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2025/09/16     ЭДИЙН ЗАСГИЙН ТӨРӨЛЖИЛТИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 145 ОРНООС 139-Д БИЧИГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/09/16     ӨНӨӨДӨР: “СЭЛБЭ 20 МИНУТЫН ХОТ”-ЫН ДАРААГИЙН ЭЭЛЖИЙН ОРОН СУУЦНЫ ТӨСЛИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/16     ШЭНЬ МИНЬЖУАНЬ: БНХАУ МОНГОЛ УЛСЫГ ШХАБ-ЫН ГЭР БҮЛД НЭГДЭЖ, ХАМТЫН АЖИЛЛАГААГАА ӨРГӨЖҮҮЛЭХИЙГ УРЬСАН WWW.ITOIM.MN НИЙТЭЛСЭН:2025/09/15     Г.ЗАНДАШАТАР: ТӨРИЙН ДАНХАР БҮТЦИЙГ ХУМИХ АЖИЛ ИРЭХ ОНД Ч ҮРГЭЛЖИЛНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/09/15     Ц.ТУВААН: НҮҮРСНИЙ ҮНЭ 3 САР ТУТАМ ШИНЭЧЛЭГДЭНЭ. ГЭРЭЭНД ЯМАР Ч НУУЦ БАЙХГҮЙ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/09/15     ХАНЫН МАТЕРИАЛД 1800 АЙЛЫН ОРОН СУУЦ БАРИХ ТӨСЛИЙН ГҮЙЦЭТГЭГЧ ШАЛГАРЛАА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/09/15     "ТАТВАРЫН ХЭТ ӨНДӨР ТООЦОО БИЗНЕС ЭРХЛЭГЧДИЙГ ХААЛГАА БАРИХАД ХҮРГЭНЭ" WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/15     ГАДААД ХУДАЛДААНЫ НӨХЦӨЛИЙН ИНДЕКС ӨМНӨХ ОНООС 4.1 ХУВИАР БУУРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/09/15     ЭХНИЙ НАЙМАН САРЫН БАЙДЛААР 600 МЯНГАН ЖУУЛЧИН ИРЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/15    

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

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Mongolia and Saudi Arabia sign air transport agreement www.akipress.com

Minister of Road and Transport of Mongolia Borkhuu Delgersaikhan received delegation from Saudi Arabia led by President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej and other officials.
The Minister of Road and Transport expressed gratitude for the visit to Mongolia and the signing of the Air Service Agreement between the governments of Mongolia and Saudi Arabia, which is of great importance for the relations and cooperation between the two countries.
He emphasized that the signing of the Air Service Agreement is an important step in taking the future relations and cooperation to a new level.
The parties expressed their readiness to closely cooperate in order to deepen cooperation between Mongolia and Saudi Arabia.
In particular, they discussed the expansion of transit, passenger and cargo services in the civil aviation sector, the security of the Civil Aviation Administration, international airport consulting services, exchange of experience, cooperation opportunities and opportunities for increased investment.

 

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Minister of Foreign and European Affairs of Croatia arrives in Mongolia for official visit www.gogo.mn

At the invitation of Mongolian Foreign Minister B.Battsetseg, Minister of Foreign and European Affairs of the Republic of Croatia, Gordan Grlić Radman, has arrived in Mongolia for an official visit.
He and his delegation were welcomed at Chinggis Khaan International Airport by State Secretary of the Ministry of Foreign Affairs L.Munkhtushig, Ambassador of Croatia to Mongolia Dario Mihelin, and other officials.
During the visit, Ministers B.Battsetseg and Gordan Grlić Radman will hold official talks and deliver a joint press briefing on the outcomes of their meeting.
This marks the first official visit to Mongolia by a Croatian Minister of Foreign and European Affairs.

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Everything To Know About HIV/AIDS in Mongolia www.borgenproject.org

Mongolia is a vast country in East Asia, bordered by China and Russia, with a population of about 3.5 million people, nearly half of whom live in the capital city, Ulaanbaatar. Once part of the Mongol Empire and later a Soviet satellite, Mongolia has undergone a rapid political and economic transformation since the 1990s. Today, it is a democratic state with a growing, resource-based economy. However, the country still faces infrastructure gaps, urban-rural inequality and a fragile health system stretched across immense distances.
In the context of public health, Mongolia has been largely spared from large-scale epidemics. HIV prevalence remains low, but that does not mean the risk is absent. For a nation often overlooked in global health discussions, Mongolia’s quiet battle against HIV is a story of early success—and urgent, unfinished business. Here is information about HIV/AIDS in Mongolia and efforts to combat it.
The Prevalence of HIV/AIDS in Mongolia
Mongolia has maintained a low overall HIV prevalence, estimated at around 600 people living with HIV in 2023. Men account for a significantly larger proportion of cases than women. While the numbers remain low compared to other countries, the number of cases has been slowly increasing over time. This highlights the need for sustained prevention efforts and real awareness campaigns.
The country reports fewer than 100 AIDS-related deaths annually, a reflection of progress in raising awareness, early detection and improved access to antiretroviral therapy (ART). However, treatment coverage remains below international targets; approximately 39% of people living with HIV receive ART, falling short of the UNAIDS 95-95-95 goals aimed for 2030. Without adequate treatment, the virus risks spreading further, especially among vulnerable populations.
Key Populations Most Affected by HIV/AIDS
Sexual contact is the primary mode of transmission. Certain groups carry a disproportionate burden of HIV infection:
Men who have sex with men face stigma and discrimination, which discourages them from seeking timely treatment.
Sex workers are at higher risk due to multiple partners and inconsistent condom use, compounded by social barriers to health care.
Transgender people experience similar stigma, limiting their access to prevention and treatment services.
People who inject drugs face heightened risk due to needle sharing, with limited awareness of safe injection practices in Mongolia.
Poverty and HIV/AIDS in Mongolia
Poverty exacerbates vulnerability to HIV infection and limits access to health care services in Mongolia. Many people living in poverty, particularly in rural and ger (traditional tent) districts around Ulaanbaatar, face barriers such as transportation costs, limited health care infrastructure and social stigma. These challenges reduce access to testing and treatment, increasing the risk of undiagnosed and untreated infections.
Mongolia’s Efforts To Address HIV/AIDS
To address these challenges, Mongolia has implemented several programs focused on vulnerable populations and poverty reduction:
Since August 2023, the Payment-for-Results model has incentivized NGOs to increase HIV testing and outreach among key populations, linking funding to performance outcomes.
The Undarga microfinance program, piloted since 2010, targets women engaged in sex work, offering financial education and savings services to reduce reliance on risky income sources.
Mobile health clinics that have support from the World Health Organization (WHO) and international partners bring HIV testing and health care services to rural and nomadic communities, overcoming geographic and economic barriers.
Looking Ahead
Mongolia has kept HIV prevalence and AIDS-related deaths relatively low, but a slow rise in new cases, especially among impoverished and stigmatized groups, presents ongoing challenges. Addressing poverty’s role in HIV vulnerability and improving health care access through innovative programs and sustained investment will be essential for Mongolia to sustain its progress and meet international targets. With continued commitment, Mongolia can look forward to a healthier future.
–  Julia Skowrońska
Julia is based in Wrocław, Poland and focuses on Global Health for The Borgen Project.

 

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China-Mongolia border port handles 2,000 China-Europe freight trains this year www.xinhuanet.com

The northern port of Erenhot in Inner Mongolia Autonomous Region, the largest land port on the China-Mongolia border, has recorded 2,000 entry and exit China-Europe freight trains this year, China Railway Hohhot Group Co., Ltd. said Wednesday.
This milestone underscores the success of an integrated transport model between Erenhot Port and Mongolia's Zamyn-Uud station designed to enhance efficiency.
Daily dialogues and monthly meetings streamline coordination on cross-border train flows, ensuring precise scheduling of arrivals and departures, according to China Railway Hohhot Group. Further optimization, the group added, will see the adoption of a digital port system to enable paperless customs clearance, bolstering collaboration with customs, border inspection, and other checkpoint units, among others.
"We've cut border inspection time to under 30 minutes and reduced overall clearance time by over 5 percent," said Yun Zhijun with Erenhot Station.
As a pivotal entry-exit point for the central corridor of the China-Europe railway service, Erenhot port now serves 73 routes linking over 60 cities across 24 Chinese provincial-level regions to more than 70 cities or stations in more than 10 countries, including Germany and Poland.

 

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China’s largest natural uranium project produces its first barrel www.notebookcheck.net

China National Nuclear Corporation (CNNC) announced the production of its first barrel of natural uranium from the country’s largest in-situ recovery (ISR) mining project, located in Ordos, Inner Mongolia. This marks a very relevant step in the nuclear energy strategy of the country, highly dependent on imports.
The 'National No. 1 Uranium' (as it has been denominated) demonstration project marks an important achievement for its operational and environmental efficiencies. 
The Ordos site uses CO2 + O2 in-situ leaching, instead of the conventional uranium mining, which involves excavation and a significant environmental impact. This process consists of dissolving uranium directly underground and circulating it to the surface through a closed-loop system. This way, solid, liquid, and gas waste are reduced.
The company described the project as a "third-generation smart uranium mine", thanks to remote-controlled extraction, automated systems, and real-time digital monitoring, allowing technical viability of the extraction. Previously, the deposit was deemed as unviable, due to the challenges that sandstone uranium deposits pose for extraction.
The pilot demonstration of the 55-gallon barrel of uranium production marks the transition from construction to active demonstration mining; however, the mine is not in full operation yet. To date, CNNC has not presented an official expected date for full commercial operation of the mine.
“Once fully operational, the project will provide a solid resource foundation for national energy security and the advancement of the nuclear industry, while significantly enhancing the international competitiveness of China's natural uranium sector,” commented CNNC.
The success of the pilot and the project plays a strategic role in reducing China’s dependence on imported uranium, which currently accounts for the majority of the country’s supply, mainly coming from Kazakhstan (66%) and Namibia (33%) as of 2023, according to World Bank data.
China has presented a plan to increase its nuclear energy capacity, which is 5% of the total energy supply, with 58 operational reactors and 32 under construction, requiring more fuel. For this reason, reliable domestic fuel sources are increasingly necessary, particularly as global uranium markets tighten and geopolitical uncertainties affect supply chains.
The Ordos operation is the first in a network of planned ISR bases across northern China—including the Songliao, Erlian, and Yili basins—aimed at building long-term fuel security.
Source(s)
China National Nuclear Corporation (CNNC), World Integrated Trade Solution (World Bank), Research and Markets

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E. Tsendbaatar successfully defends North American Championship Belt www.gogo.mn

State Honored Athlete of Mongolia and professional boxer Tsendbaatar Erdenebat successfully defended his WBA Continental North America Gold (North American championship) belt on July 12, 2025, in Fresno, California. He defeated Humberto Galindo of the USA via a 10-round unanimous decision victory.
Competing in the 59 kg weight category, this marks E.Tsendbaatar’s 13th professional win.
His next bout will be a world championship match, further elevating Mongolia’s presence on the global boxing stage.

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Day 4: India, Mongolia survive as Iran sweep Group B www.fiba.basketball

SHENZHEN (China) – The FIBA Women’s Asia Cup 2025 Division B closed group play with intense battles on Wednesday at the Shenzhen Sports Center as crucial wins set the tone and finalized the teams qualifying to the next round.
India rebound with convincing win over Tahiti
The day’s action tipped off with India shrugging off their Day 2 loss to Chinese Taipei to deliver an emphatic 78-55 victory over winless Tahiti. It was a close game in the first few minutes, but once India's transition game clicked, they started pulling away. Coach Baskar Sappaniambalam's squad forced turnovers and dictated the tempo throughout much of the encounter. This pivotal win keeps India’s promotion ambitions alive and breathes new life into their Division B campaign, while Tahiti are officially ousted from contention.
Sreekala Rani and Sathya Krishnamurthi scored 15 and 11 points respectively to lead India, while Moina Michelle Tuieinui-Le Beherec had 15 points for Tahiti.
Iran defeat Thailand to sweep Group B
Roxanna Barahman
Next up, Iran reinforced their growing reputation as Division B heavyweights after a hardfought 80-62 triumph against a resilient Thailand squad. Iran booked their third straight win as Mahla Abedi dominated around the basket. The Thais fought hard, led by Rattiyakorn Udomsuk and Rujiwan Bunsinprom, but Iran’s rebounding and defense ultimately helped them pull them away in the fourth quarter. The win cements Iran’s top spot in Group B, setting the stage for their advancing to the Semi-Finals.
Negin Rasoulipour Khameneh had 20 points to lead Iran, which also got a 16-point, 16-rebound double-double from Abedi. Thailand were led by Udomsuk's 18 points.
Mongolia bounce back with solid win against Cook Islands
Ariuntsetseg Bat-Erdene
Rounding out the day, Mongolia responded to Tuesday’s setback with a confident 82-55 victory over a struggling Cook Islands team. Mongolia controlled the pace with tenacious defense and key contributions from Ariuntsetseg Bat-Erdene and Khulan Onolbaatar, who combined for a steady offensive output. This result ensures Mongolia finish in second place in Group B and sends Cook Islands into the 7th-8th place classification game.
Mongolia were carried by Bat-Erdene's 25 points and Onolbaatar's 18 points, while Ajiah Pepe had 22 points for Cook Islands.
With India, Iran and Mongolia claiming crucial victories, the race for promotion in Division B intensifies as teams prepare for the knockout phase.
FIBA

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Japanese Emperor Naruhito’s Visit to Mongolia Emphasizes ‘Special Strategic Partnership’ www.thediplomat.com

The Japanese monarch’s first state visit to Mongolia acknowledged the past while looking toward the future of the two democracies’ ties.
Japan’s Emperor Naruhito and Empress Masako just wrapped up an 8-day visit to Mongolia at the invitation of the Mongolian President Khurelsukh Ukhnaa. Naruhito’s historic state visit to Mongolia envisaged a special partnership between the two countries at the highest level of government. For Tokyo and Ulaanbaatar, the emperor’s visit has robust historic, diplomatic, and symbolic implications for the two countries’ relations moving forward. 
Welcoming the visit, Mongolia’s Foreign Minister Battsetseg Batmunkh told The Diplomat, “This first state visit of Emperor Naruhito and Empress Masako has a historical significance that will deepen the friendly relations between Mongolia and Japan, strengthen the friendship and camaraderie between the peoples, which have become the ‘cornerstone’ of relations, and be engraved in golden letters in the history of relations.”
Khurelsukh and Naruhito previously met in 2019, when Khurelsukh attended the Japanese emperor’s enthronement ceremony. Naruhito had previously visited Mongolia as a crown prince in 2007 during Enkhbayar Nambar’s presidency. This state visit, however, was both more ceremonial and more symbolic. 
Historical Reconciliation
Naruhito’s visit – only his third trip overseas since assuming the throne – held profound symbolism this year, which commemorates the 80th anniversary of the end of World War II. To Mongolia and Japan, which fought against each other in the war, historical remembrance and diplomacy go hand in hand.
On July 8, the emperor and empress visited the memorial for Japanese prisoners of war (POWs) in Mongolia. According to the National Archives of Mongolia, during World War II approximately 12,000 Japanese forced laborers were sent to the Mongolian People’s Republic (MPR) from the Soviet Union, particularly Siberia. 
According to Mongolia’s Institute of Strategic Studies, “Mongolia’s records indicated 12,318 POWs in total [sent to Mongolia] and 1,621 deaths whereas Japanese records stated 13,847 POWs and 1,684 deaths.” 
Shuzo Yamada, an a 107-year-old former internee who helped build the foundations of the modern Sukhbaatar Square, commented on the visit. According to Japanese media, he said that “he is glad that the Emperor and Empress will pay their respects and people will become aware of the internment in Mongolia.” 
In 1966, before Japan and Mongolia had even formally established diplomatic ties, the first group of Japanese delegates paid their respects at a cemetery for the Japanese forced laborers. Sites commemorating the POWs have been visited by Japanese Prime Ministers Kaifu Toshiki, Koizumi  Junichiro, and Abe Shinzo; the official memorial for the Japanese POWs was built in 2001 by the Mongolian and the Japanese governments.
On Japan’s part, the consistent visit of Japanese delegations to historical sites acknowledges an era of warfare, as well as serving as a mechanism to move toward the future. Imperial Japan’s historical atrocities often face controversy in East Asia, and reconciliation has been a way for Japan to navigate both regional and global affairs. Japan’s moves to reconcile and recognize historical atrocities are thus geopolitically relevant. 
Deepening of Bilateral Ties
Beyond history, Naruhito’s state visit contributed to Japan-Mongolia diplomatic and cultural ties. The monarchs visited Ulaanbaatar’s water supply and sewage facility, Shine Mongol High School, and attended the opening ceremony of Mongolia’s Naadam festival. The emperor’s visit thus shed a light on cooperative elements of the partnership between Mongolia and Japan. 
In 2022, Mongolia and Japan commemorated their 50th anniversary of diplomatic ties by upgrading their relations to a Special Strategic Partnership. The Special Strategic Partnership serves as a robust bilateral foreign policy framework to foster people-centered cooperation in fields such as education, health, engineering, and environment. The partnership will be implemented within the 10-year Action Program of the “Special Strategic Partnership for Peace and Prosperity” between Ulaanbaatar and Tokyo. 
At the same time, given the current escalation of regional security concerns, Mongolia and Japan’s Special Strategic Partnership cannot afford to overlook defense and security cooperation. Hence, a strong Japan-Mongolia partnership is also strategically motivated. Ulaanbaatar’s “third neighbor” foreign policy supports its export access to Indo-Pacific. 
In 2022, a Japan-Mongolia-U.S. trilateral meeting took place in Tokyo and all three parties reiterated the mutual commitment to democracy, peace, and security of the open Indo-Pacific region. As Japan’s position becoming ever more relevant in East Asia and the Indo-Pacific, expanding that trilateral mechanism is crucial. 
In East Asia, defense spending continues to rise and this trend includes Mongolia and Japan. The two countries’ defense and security relations have augmented in recent years as well. Japan’s Self-Defense Forces have been instrumental in international field rehearsals such as Capacity Building Program, King Search 2022, and Khaan Quest of Mongolia. Japanese forces help provide training in military medicine, engineering, and emergency evacuation exercises. Mongolia and Japan also cooperate in joint drills to provide medical assistance under Mongolia’s National Emergency Management Agency (NEMA) disaster relief management. 
Nicholas Millward, the director for the Yokosuka Council on Asia-Pacific Studies stated, “In the East Asia context, the partnership with Japan, a major regional power, provides Mongolia with access to state-of-the-art defense technologies that will bolster its defense infrastructure without aligning itself with any military alliance. This ensures that Mongolia can maintain its independent foreign policy while benefiting from the security enhancements provided by the agreement.” 
Future Outlook
Mongolia and Japan’s special strategic bilateral relations carries global and regional implications. Enhancing trilateral mechanisms – not only between Japan, Mongolia, and the United States but Japan-Mongolia-South Korea – has benefits for both Ulaanbaatar and Tokyo. That said, under its multipillared foreign policy, Mongolia will continue to avoid joining any blocs but rather seek to establish robust bilateral and trilateral mechanisms. 
Naruhito and Masako’s state visit augmented Japan-Mongolia bilateral relations on the historical, diplomatic, and cultural levels. The historic visit to Mongolia promulgates these intangible but observable nuances at the highest level of government. Japan’s ambassador to Mongolia, Igawahara Masaru, predicted that the visit of the emperor and empress “will open a new chapter in the relationship between Japan and Mongolia.” 
Cooperation will continue with Mongolia’s hosting of COP17 of the United Nations Convention to Combat Desertification next year. The upcoming event was a particular focus for Masako, who has a deep personal interest in environmental and climate change issues and often calls for regional cooperation in this area. Naruhito expressed that Japan would send a high-level representative to COP17.  
In the face of rising regional instability, Ulaanbaatar and Tokyo will work to uphold democratic and peaceful foreign policies. The Japanese monarch’s first state visit to Mongolia enabled the deepening of Mongolia and Japan’s Special Strategic Partnership and emphasized a greater diplomatic symbolism that recognizes the past while establishing a sustainable path for future relations between the two government and two societies. 
BY Bolor Lkhaajav
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.

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Gold is Mongolia’s natural reserve strategy www.omfif.org

The gold sector plays a catalytic role in reserve accumulation and portfolio diversification in Mongolia
As a gold-producing country, maintaining a gold portfolio within our reserves has been a natural strategy – allowing gold to be converted into foreign exchange liquidity when necessary. Not only does it play a role within the liquidity tranche, but the Bank of Mongolia also introduced a dedicated gold reserve portfolio beginning in 2025, with the goal of gradually building it into a long-term strategic asset portfolio.
Within our strategic asset allocation framework, gold is treated separately from other reserve currencies to minimise market price volatility shocks, which could potentially trigger costly and unstable rebalancing. The overall tranche size is determined by market outlook and risk-return optimisation techniques, while tactical decisions are influenced by domestic gold supply trends and prevailing market conditions.
Our trading team closely monitors key macroeconomic and financial market indicators that reflect international policy developments and associated risks. Additionally, we focus on enhancing our capacity to manage gold in both allocated and unallocated forms, working in collaboration with the London Bullion Market Association clearing banks and central banks.
Amid rising economic uncertainty and geopolitical tensions, the importance of gold as a portfolio diversifier has grown. We regard gold as a strategic asset that supports risk mitigation and strengthens financial security in rapidly evolving global conditions. As a response, the Bank of Mongolia is further enhancing its gold reserve management framework to bolster the country’s financial resilience while adhering to international best practices.
Gold as a reserve accumulation tool
Maintaining a sufficient level of foreign reserves is essential for safeguarding economic and financial stability, as well as providing a buffer against external shocks and uncertainties. Within the policy framework to maintain and increase foreign reserves, the Bank of Mongolia annually purchases around 18-20 tonnes of domestically mined gold from large mining companies as well as artisanal and small-scale gold miners through the commercial banks. Efforts are focused on improving overall supply chain operations, enhancing the domestic gold purchase programme and increasing accessibility for local producers and artisanal miners.
We also aim to acquire a higher volume of responsibly sourced domestic gold for our reserves by streamlining operational procedures, such as offering international market prices, promoting formalisation and strengthening partnerships throughout the gold supply chain.
International co-operation plays a central role in this approach. The Bank of Mongolia has integrated global best practices into its domestic gold operations through collaboration with the World Gold Council. In 2024, we reinforced our commitment to responsible gold management by becoming a signatory to the WGC’s 12 London Principles. The principles provide a framework for governance, risk management, transparency and ethical sourcing, guiding the continuing efforts to modernise its domestic gold purchase programme.
To ensure compliance with these standards, the Bank of Mongolia exclusively partners with internationally licenced entities for logistics, storage, refining and transactions, and only engages with LBMA Good Delivery–accredited refineries, which apply comprehensive due diligence to uphold responsible mining standards.
Through these integrated measures, the Bank of Mongolia is strengthening its commitment to responsible gold reserve management, promoting economic stability and ensuring that Mongolia’s gold reserves meet the highest global standards for quality, ethics and transparency.
Tuvshingerel Tumenbayar is Acting Director, Reserve Management, Financial Markets, and Azjargal Amarsaikhan is Senior Economist, Reserve Management, Financial Markets at Bank of Mongolia.
This article was originally published in OMFIF’s Global Public Investor 2025 report.

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World Leaders Congratulate President of Mongolia on National Naadam Festival www.montsame.mn

On the occasion of the National Naadam Festival of Mongolia, world leaders extended official greetings and warm wishes to President of Mongolia Khurelsukh Ukhnaa.
Messages of congratulations were received from President Xi Jinping of the People’s Republic of China; President Vladimir Putin of the Russian Federation; King Charles III of the United Kingdom of Great Britain and Northern Ireland; Pope Leo XIV, Sovereign of the Vatican City State; President Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea; President Petr Pavel of the Czech Republic; Federal President Alexander Van der Bellen of the Republic of Austria; President Lee Jae-myung of the Republic of Korea; President Miguel Diaz-Canel of the Republic of Cuba; President Thongloun Sisoulith of the Lao People’s Democratic Republic and President Donald J. Trump of the United States of America.
In their greetings, the leaders expressed their sincere congratulations to President Khurelsukh, wishing him good health, happiness, and continued success. They also extended their best wishes for peace, prosperity, and development for the people of Mongolia, and affirmed their readiness to further strengthen bilateral relations and cooperation.
President Vladimir Putin of the Russian Federation emphasized the friendly nature of Russia-Mongolia relations, highlighting their recent meeting in Moscow during the 80th anniversary of the Victory in the Great Patriotic War. “Our meeting fully confirmed the cordial character of Russian-Mongolian relations. I am confident that we will continue working together to strengthen our Comprehensive Strategic Partnership, for the benefit of our peoples and the stability and security of the region.” 
President Xi Jinping of China underlined the importance of the China-Mongolia relations and stated that he is ready to work with President Khurelsukh to advance the Comprehensive Strategic Partnership, developing it a long-term, stable relations that serves as a model for neighboring countries and benefit the peoples of the two countries.
President Donald J. Trump of the United States reflected on the 38 years of diplomatic relations between the two nations. The US President reaffirmed the importance of the Strategic Third Neighbor Partnership as a symbol of the two countries’ shared commitment to peace and prosperity for the people. “I look forward to strengthening this partnership in the coming year, particularly in the areas of natural resources, energy, and trade,” he added.

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