ACCA and MonICPA renew partnership www.theaccountant-online.com

The Association of Chartered Certified Accountants (ACCA) and the Mongolian Institute of Certified Public Accountants (MonICPA) have renewed their partnership to strengthen Mongolia’s accountancy profession.  
The agreement, renewed in mid-May 2025, focuses on providing pathways for mutual membership and emphasises public sector development in Mongolia. 
The five-year agreement highlights the collaboration between ACCA and MonICPA to promote ACCA’s Public Financial Management and International Public Sector Standards qualifications.  
Both bodies aim to engage with donor agencies to support public sector development and focus on the role and certification of accounting technicians in Mongolia. 
ACCA has committed to sharing its research and professional insights, while both organisations plan to explore collaborative research opportunities.  
ACCA Central Asia, Mongolia and Armenia head Zhanna Iskenova said: “It is so encouraging to witness the renewal of this partnership. ACCA and MonICPA share a common strong interest in the advancement of the accountancy profession in Mongolia especially in strengthening professional capacity and building accountancy infrastructure in the country. I look forward to working with colleagues in ACCA and MonICPA in achieving our mutual aims.” 
MonICPA CEO Baasandorj Oyunbaatar said: “MonICPA is committed to carry on the excellent work we have already achieved with ACCA. At its heart this relationship promotes the highest profession, ethical and governance standards and by doing that clearly advances the public interest.  
“We are keenly interested in co-operating with ACCA on professional training education and examinations.” 
In addition to the partnership with MonICPA, ACCA recently collaborated with the Astana International Financial Centre (AIFC) Green Finance Centre.  
In April 2025, the association hosted a seminar in Astana, Kazakhstan, to enhance the understanding of sustainability disclosures among Central Asian regulators and business leaders. 
The Capacity Building Seminar provided insights into International Sustainability Standards Board standards, featuring case studies and practical training on preparing sustainability reports focused on IFRS S1 and S2.

T. Dorjkhand: Be responsible, People’s Party www.gogo.mn

T.Dorjkhand, Chairman of HUN Party, responded to journalists’ questions on current political issues today, May 21, 2025.
Addressing criticism over the formation of a joint government with the People’s Party and the Democratic Party, Dorjkhand acknowledged that the People’s Party might have fared better politically had it stayed in opposition. “If they had not joined the government, they could have positioned themselves as a strong opposition force and possibly won more seats in local elections. But that would have served the interests of the HUN Party, not the interests of Mongolia,” he said.
He emphasized that the HUN Party’s decision to join the coalition was guided by national interest, citing the vision of S.Zorig, who advocated for putting Mongolia first over personal or party ambition. “We made this decision based on principle, and we stand by it,” he added.
T.Dorjkhand described the current global situation as unprecedented in the last hundred years, marked by instability and rising geopolitical tension. “Trump's tariffs are shaking the world. Not only Mongolia, which has a population of 3.5 million, but also the Arabic countries with 300 million people, are uniting. Asia is coming together. European leaders, too, are calling for unity. We must do the same.”
He expressed confidence that the coalition formed by the three parties with the most seats was the right step forward. However, he addressed the People’s Party directly: “Be responsible. You take pride in your 100-year history. But do you put the interests of your party above those of Mongolia?”
He questioned whether the People’s Party, on its own, could navigate Mongolia through the current economic challenges, warning of a looming 60–80% risk of economic collapse. “Can all 68 of your members solve this crisis with one voice? I don’t think so.”
And T.Dorjkhand cautioned “This will create a situation where the government changes after six months, similar to the situation when the Democratic Party was majority in 1996-2000. Who needs such a situation? In the end, there is nothing to hide, and we will enter the game of going to the presidential government”.

Sixth Conference of the Mongolian People’s Party Convenes www.montsame.mn

On May 21, 2025, the Sixth Conference of the Mongolian People’s Party (MPP) was held, and today, May 22, 2025, the decisions made at the Conference were announced.
Secretary-General of the MPP Sodbaatar Yangug said, “The Conference discussed the political speech delivered by Prime Minister of Mongolia and Chairman of the MPP Oyun-Erdene Luvsannamsrai. More than 40 members raised questions following the presentation, and after the discussion, a resolution was adopted to issue a political conclusion on the Joint Government. Based on the criticism voiced by the MPP members of primary and mid-level units, a decision was made to continue the ‘New Recovery Policy’ and the Regional Development Action Program without involving any political party that violated the Joint Government Agreement. The Conference is our party’s central representative body. Thus, the decision passed by majority vote at the Conference will be introduced to other political parties currently serving in the Joint Government. As stipulated in the Joint Government Agreement, the matter will be introduced to the Policy Council, and next steps will be taken.”
The Joint Government currently has 12 Ministers from the Mongolian People’s Party, 8 Ministers from the Democratic Party, and 2 Ministers from the HUN Party.

Young Mongolians demand PM resign over corruption claims www.wfxg.com

President of the Republic of Austria to Pay a State Visit to Mongolia www.montsame.mn

At the invitation of President of Mongolia Khurelsukh Ukhnaa, President of the Republic of Austria Alexander Van der Bellen will pay a State Visit to Mongolia on May 25-28, 2025.
During the State Visit, the two Heads of State will hold official talks and discuss expanding bilateral relations and cooperation, the economy and investment, making joint contributions toward resolving global challenges, including climate change and desertification, and advancing the Sustainable Development Goals. Also, a Mongolia–Austria Joint Declaration will be signed, along with agreements to deepen cooperation in social protection, finance, mineral resources, science, culture, and the arts. The two Presidents will hold a press briefing.
Mongolia and the Republic of Austria established diplomatic relations on July 1, 1963. This will be the first State Visit by the President of the Republic of Austria to Mongolia.

China Begins Construction of New Line to Mongolian Border www.railway.supply

China has launched the construction of a railway approach to the Gankemaodu/Gashuun Sukhait border crossing in Bayannur, strengthening its transport link with southern Mongolia. This is reported by the railway transport news portal Railway Supply.
The works are progressing on a section that connects Chinese territory with Mongolia’s largest coal deposit — Tavan Tolgoi. This site holds vast reserves of coking and thermal coal crucial to industrial production.
In 2022, Mongolia completed a 258 km broad-gauge rail line between Tavan Tolgoi and Gashuun Sukhait. That project laid the foundation for integration with China’s rail system.
The Chinese section is being developed by China Energy Investment Corporation (CHN Energy), the country’s leading coal-powered electricity producer. Completion is scheduled for early 2027.
China Strengthens Infrastructure Link with Mongolia
The new rail link will become the second active railway connection between the two countries. The first, Erenhot–Zamyn-Uud, has operated since 1956.
This project holds strategic value for both nations. It will boost Mongolia’s coal export capacity and enhance supply chain reliability for China.
China to Expand Freight Traffic and Coal Imports
The new corridor is expected to handle around 30 million tons of cargo annually. This will create additional logistics capacity and reinforce Mongolia’s export strength.
Forecasts suggest Mongolia’s annual coal exports could grow to 165 million tons. The new railway will play a significant role in advancing regional trade.

Indonesian coal shipments to China slide amid new benchmark push www.reuters.com

Coal imports from China's largest supplier Indonesia tumbled 20% to 14.286 million tons in April, customs data showed on Tuesday, as Chinese buyers rejected a push by Jakarta to use its government-set benchmark in international sales, in a bid to increase royalties.
Indonesia began using the new government-set price, known as HBA and previously used only to calculate royalties, on March 1 to exert more national control over the value of both domestic and export transactions for the fuel commodity, but traders complain the index is opaque and more expensive.
Also weighing on Indonesian imports were lower prices for domestic coal in China, which dragged down overall coal imports by 16% year-on-year in April.
Domestic prices are at four-year lows, cutting into profit for imported coal.
China's coal imports from other top suppliers also fell last month. Russian shipments fell 13% in April from the same month last year to 7.397 million metric tons, the data showed.
Moscow is planning to support its coal industry, hit by Western sanctions, with discounts on rail transportation rates and guaranteed exports, according to a letter seen by Reuters and reports from coal-producing regions, which could support shipments to neighbouring China going forward.
Imports from Mongolia, mostly of coking coal, dipped 3% to 7.014 million tons last month. Imports from Australia also declined 3% in the month to 6.97 million tons.
Below are the details of imports from key suppliers with volume in metric tons:
Country
April 2025
Year-on-year % change
Jan-April 2025
Year-on-year % change
Indonesia
14,285,823
-20%
66,871,048
-5%
Russia
7,397,488
-13%
27,372,699
2%
Mongolia
7,013,800
-3%
24,503,886
3%
Australia
6,969,476
-3%
23,419,364
2%

Mongolia and Indonesia Plan Visa-Free Travel www.en.tempo.co

Over 17,000 Participants Registered to Run in the “Ulaanbaatar Marathon-2025” International Race www.montsame.mn

Registration for the "Ulaanbaatar Marathon-2025"  will close today, on May 20, 2025.
As of today, a total of 17,744 participants have registered for this race. Among them, 2,951 have signed up for the shortest distance of 1.5 km, which is open to families as well as participants in wheelchairs and visually impaired individuals. The 5 km run attracted the most participants, with over 10,000 registered, while 2,369 participants signed up for the 10 km distance.
A total of 1,930 participants have registered for the 21km half marathon, categorized into age groups of 18-34, 35-54, and 55 and above. For the 42km full marathon, 280 participants have registered in the age group of 18 and above. Individuals with disabilities can also run in the 21km half marathon and 42km full marathon under their designated categories.
Bib numbers for participants in the 21km and 42km races are now being distributed at the Sports Palace and Khangarid Palace. Additionally, bib numbers are being provided to citizens who have registered for the 1.5km and 5km races at the offices of the Physical Education and Sports Committee in the nine districts of the Capital City.
Bib numbers for those registered to run in the "Ulaanbaatar Marathon 2025" are being distributed at the following locations.
-1st floor of the Sports Palace
-The large tent at Sukhbaatar Square
-Khangarid Palace, Khan-Uul District, Ulaanbaatar  
“Ulaanbaatar Marathon- 2025” will commence on May 24, 2025

ADB Launches New Partnership Strategy to Support Mongolia’s Diversified, Inclusive, and Sustainable Growth www.adb.org

The Asian Development Bank (ADB) has launched its new Country Partnership Strategy (CPS) for Mongolia for 2025–2028 to support diversified, inclusive, and sustainable growth.
Over the four-year CPS period, ADB’s operations will focus on three strategic priorities: promoting diversified and inclusive growth; strengthening sustainability and resilience; and advancing empowerment and opportunity. These priorities will be supported by crosscutting efforts to enhance private sector participation, accelerate climate action, strengthen governance and institutional capacity, drive digital transformation, and empower women and girls.
“Our new strategy aligns closely with Mongolia’s national development priorities, including the government action plan,” said ADB Country Director for Mongolia Shannon Cowlin. “It addresses key economic challenges such as the reliance on mineral exports and related macroeconomic vulnerabilities, while supporting private sector development and promoting growth in agribusiness, financial institutions, and renewable energy.”
Under the first priority, ADB will strengthen public sector and macroeconomic management through support for debt management, domestic resource mobilization, sovereign wealth fund development, and state-owned enterprise reform. It will promote private sector growth and access to finance by improving the country’s investment climate, advancing public–private partnerships, strengthening banking sector stability, and supporting critical minerals mining. ADB will also improve regional and domestic connectivity by enhancing transport infrastructure, lowering logistics costs, and facilitating trade.
To advance the second strategic priority, ADB will help improve institutional and policy frameworks for climate action, mobilize sustainable finance, and increase access to green loans and bonds. It will support rural and disaster resilience by developing agribusiness; strengthening food security; protecting the environment; and enhancing disaster preparedness, response, and risk financing.
ADB will also invest in sustainable and resilient infrastructure across urban and rural areas. This will include improving urban and transport services in ger areas in Ulaanbaatar, as well as aimag (provincial) and soum (district) centers, developing affordable and low-carbon housing, and supporting satellite cities. In the energy sector, ADB will accelerate the energy transition through reforms and investment, support electricity and heat decarbonization, and modernize the power grid through digital technologies.
Under the third priority, ADB will promote empowerment and opportunity by building a skilled workforce, strengthening health services, and advancing adaptive social protection. Education support will focus on technical and vocational training, inclusive foundational learning, and higher education aligned with labor market needs. In health, ADB will support hospital governance, primary care, emergency services, and the development of regional hospitals and health centers. Social protection efforts will include system reforms, better data for targeting, adaptive strategies, and labor market programs to reduce dependence on cash assistance.
In the four-year CPS period, ADB will continue to play a leading role in supporting Mongolia’s sustainable development through strong coordination across its sovereign, nonsovereign, advisory, and knowledge operations, and by maintaining close collaboration with development partners across all sectors.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.