Events
| Name | organizer | Where |
|---|---|---|
| MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2025 London UK | MBCCI | London UK Goodman LLC |
NEWS
Central Bank Discusses Future of Digital Payments in Mongolia www.montsame.mn
The Central Bank of Mongolia recently held a regular meeting of the National Payment System Council, bringing together representatives from banks, fintech companies involved in the payment system, government agencies, and law firms.
In the opening session, the Bank of Mongolia presented upcoming legal reforms and work plans to be developed within the National Payment System next year. The bank welcomed feedback and suggestions from all participants and facilitated an open roundtable discussion.
Anar Enhkbold, Director of the Settlement Department of the Central Bank of Mongolia, a leading authority in digital transaction systems, noted that at the SIBOS 2025 conference (SWIFT International Banking Operations Seminar), held in Frankfurt, Germany, and focused on integrated banking and financial sectors, there was extensive discussion on the future of blockchain-based electronic wallets, stablecoins, tokenized savings to align with global trends in payment technologies.
In its draft monetary policy for 2026, the Bank of Mongolia announced plans to “support new financial products and services and explore the possibility of using stablecoins as a means of payment.” Accordingly, the meeting also addressed global developments in payment systems and financial markets, and explored the potential for introducing stablecoins and tokenized savings in Mongolia.
Teachers to go on strike starting Thursday www.gogo.mn
Education sector workers nationwide have announced an indefinite strike to demand higher wages. The strike is set to begin at 8:00 AM on October 16, 2025.
On September 24, representatives of Mongolian teachers marched in Sukhbaatar Square, calling for a salary increase. Last week, they circled the State Palace and held a peaceful sit-in in the square to continue pressing their demands.
Teacher representatives had earlier stated that they would initiate a strike if their protests did not bring concrete results.
Some schools have already notified parents that classes will be suspended starting Thursday due to the strike.
Mongolia inflation accelerates to 9.0 pct in September www.xinhuanet.com
Mongolia's annual inflation rate accelerated to 9.0 percent in September, the National Statistics Office (NSO) said Tuesday.
This figure reflects a 2.7-percentage point increase compared to the same period last year and a 0.2-percentage point increase from the previous month, the NSO said in a statement.
Mongolia's central bank plans to keep inflation within 5 percent (±2 percentage points) starting from 2027 to ensure macroeconomic and financial stability.
The landlocked Asian country's economy grew 5.6 percent in the first half of 2025, according to the statistical agency.
Meanwhile, the World Bank has predicted that Mongolia's economy would grow by 5.9 percent in 2025 and 5.6 percent in 2026.
Economy forecasted to grow by 5-6% in 2026 www.ubpost.mn
On October 10, Parliament discussed the draft resolution on the approval of the Main Directions of the State Monetary Policy in 2026, submitted by Mongol Bank on September 30. Governor of the Central Bank B.Lkhagvasuren presented the proposal, outlining the nation’s economic performance and key monetary policy goals for the coming year.
According to the bank, the country’s economy has stabilized and grew by 5.6 percent in the first half of 2025. The agricultural sector, which recovered strongly after the severe zud of last winter, expanded by 35.6 percent and accounted for more than half of the total growth. Railway and housing construction have been active, resulting in a 25.2 percent increase in the construction sector, while the service sector grew by 4.5 percent, all contributing positively to overall economic expansion. The bank projects that the increase in copper mining and the continuation of new construction projects in the second half of the year will support growth, keeping the economy on a steady five to six percent path in 2025 and 2026.
Inflation, which declined from February to July this year, rose slightly in August due to higher domestic food prices. It may intensify in the coming months but is expected to gradually decline and enter the target range in 2026. Governor B.Lkhagvasuren emphasized the importance of implementing countercyclical fiscal policies to meet the inflation target and avoid imbalances in the economy. He noted that large construction projects should be financed mainly from external sources, warning that relying too heavily on domestic financing could increase inflationary pressures, affect the exchange rate, and disturb economic stability. He stressed that stabilizing the supply of basic goods and improving food production through technological solutions are essential for maintaining low and stable inflation and protecting citizens’ real incomes.
In terms of external trade, coal export revenue in the first eight months of this year was 2.7 billion USD lower than in the same period last year. As foreign trade slows and the current account deficit widens, inflows of foreign currency are being supported by loans and bonds from the government, banks, and the private sector. The Governor explained that the future outlook for the balance of payments will depend largely on global mineral prices, trading partners’ tariff policies, and the economic performance of major partners such as China. He warned that China’s economic growth is expected to slow further, creating a less favorable price environment for coal and iron ore. Therefore, it is essential to apply a balanced set of macroeconomic policies, reduce the current account deficit, and ensure that major construction projects do not place additional pressure on foreign exchange reserves.
B.Lkhagvasuren also pointed out that external risks remain high. Slowing global demand due to geopolitical tensions, falling prices of key export commodities, potential delays in oil supplies, severe winter weather and power shortages could negatively affect export revenues and increase inflation. Despite these risks, Mongol Bank expects inflation to stabilize within a range of six plus or minus two percentage points next year and to be reduced to five percent by 2027. The Governor stated that government support and countercyclical fiscal measures will be crucial for achieving this goal.
He also said that while Mongolia’s economy is on a stable growth path, sustaining that momentum will require prudent fiscal management, careful external borrowing and consistent policy coordination. The 2026 monetary policy aims to maintain economic stability, strengthen resilience against external shocks and create conditions for sustainable and inclusive growth.
Mongolian President Arrives On Four-Day State Visit www.stratnewsglobal.com
Mongolia’s President Khurelsukh Ukhnaa arrived in India today for a four-day state visit, his first since assuming office.
Invited by President Droupadi Murmu, the visit reflects a growing convergence between New Delhi and Ulaanbaatar across areas including energy, defence, and critical minerals.
The visiting leader, accompanied by cabinet ministers, lawmakers, and business leaders, will hold formal talks with Prime Minister Narendra Modi and also meet Vice President C.P. Radhakrishnan, Defence Minister Rajnath Singh, and External Affairs Minister S. Jaishankar.
Marking 70 years of diplomatic relations, the visit aims to review bilateral progress and set a new strategic direction with agreements expected in mining, digital cooperation, renewable energy, and defence.
The visit highlights deepening policy alignment between Mongolia’s “Third Neighbour” policy—meant to diversify ties beyond China and Russia—and India’s “Act East” policy, which seeks stronger links across East and Central Asia. The Indian Ministry of External Affairs described the two nations as “spiritual neighbours with shared civilisational values and strategic outlooks.”
Agreements are expected to enhance India’s access to Mongolia’s mineral wealth, particularly rare earths and coking coal. Indian firms such as JSW Steel and SAIL are reportedly exploring long-term supply deals from the Tavan Tolgoi mines, seen as vital to India’s clean energy and manufacturing goals.
A centrepiece of economic cooperation is the Dornogobi Oil Refinery project, funded through a $1.7 billion Indian line of credit. Once operational by 2026–27, it is expected to meet over 60% of Mongolia’s fuel demand, reducing dependence on Russian imports.
While Mongolia’s landlocked geography poses logistical hurdles, connectivity is gradually improving. From November, MIAT Mongolian Airlines will begin direct flights to Singapore, enhancing links with India and Southeast Asia. Bilateral trade stood at $110 million in 2024, with both sides seeking to expand cooperation in IT, pharmaceuticals, and digital services.
Defence cooperation has grown through exercises like Nomadic Elephant and Khan Quest, with Mongolia recently appointing its first Defence Attaché to India. India has supplied select equipment such as all-terrain vehicles and cybersecurity systems, though both sides maintain a balanced approach to defence engagement.
On multilateral issues, Mongolia supports India’s bid for a permanent seat at the UN Security Council, while India backs Mongolia’s outreach efforts. Despite Mongolia losing observer status at the Shanghai Cooperation Organization in 2025, the two nations remain aligned on counterterrorism and regional connectivity. Both are active participants in UN peacekeeping and share a commitment to multilateralism.
Beyond strategic issues, the partnership draws strength from shared Buddhist heritage. Over 400 Mongolian monks are studying in India, and cultural exchanges continue through academic collaborations and festivals. The 25th Ganga Nrit dance festival saw participation from over 450 Mongolian delegates.
Educational and medical cooperation are also expanding, with rising numbers of Mongolian patients seeking treatment in India under relaxed visa norms.
President Khurelsukh’s visit is expected to strengthen the partnership with agreements covering long-term mineral exports, green energy collaboration, digital innovation, education, and cultural tourism—laying the foundation for a deeper and more pragmatic India-Mongolia relationship.
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Sludge Processing Plant Construction Set to Begin Next Year in Ulaanbaatar www.montsame.mn
Construction of a new facility to process, dry, and incinerate sludge from the Central Wastewater Treatment is scheduled to begin next year, according to the Office of the Mayor of the Capital.
The project is part of the 24 mega initiatives aimed at advancing the development of Ulaanbaatar. A feasibility study has been completed and approved by the Construction Development Center, and preparations are currently underway to announce a construction tender.
The plant will be built through a public-private partnership in the 20th khoroo of Songinokhairkhan District, occupying a 40,000-square-meter site located in front of the Ulaanbaatar city wastewater treatment facility. Designed to meet international standards and environmental regulations, the plant will be capable of processing an average of 250 cubic meters of sludge per day and incinerating up to 238 tonnes per day. Additionally, 843,200 cubic meters of sludge will be recycled annually. Emissions from the incineration process will be treated using a high-tech air purification system to minimize environmental impact.
Officials emphasized the importance of properly processing and disposing of sludge from the Central Treatment Plant to reduce soil, water, and air pollution. The project also aims to promote waste reuse, generate energy, and create new employment opportunities.
Asia holds the world’s hydrogen heart — 500,000 tons a year link two giants in a secret corridor www.ecoticias.com
Asia could be holding the world’s hydrogen heart since an underground corridor is being formed from Inner Mongolia to Beijing that will be used for the transportation of pure green hydrogen, defining the future of sustainable energy. With infrastructure spearheaded by Sinopec, almost 500,000 tons of hydrogen will be carried annually in this secret corridor. China surely is creating a national hydrogen economy, with Asia’s heart beating only for pure hydrogen.
China engaged in creating its very own hydrogen highway
It was back in July this year that China approved its inter-provincial hydrogen pipeline. The 400-kilometer pipeline would run from Ulanqab in Inner Mongolia to Beijing. The pipeline was a concept that had been in Sinopec’s pipeline, but this concept has now turned into reality, offering the prospect of carrying 100,000 tons of green hydrogen yearly in the first phase. The hydrogen being carried through the corridor comes from a 1-gigawatt wind-powered electrolysis plant. In the future, China wishes to transport 500,000 tons of green hydrogen annually.
The 100,000 tons of hydrogen amount is already shocking, as with that amount, over 3 million hydrogen fuel-cell vehicles can be powered. So far, this is the first and perhaps the largest transportation mission of green fuel across an intercontinental Asian corridor. However, this ambitious project will result in one of the largest hydrogen transportation initiatives throughout the entire world. This is also one of the first inland renewable hydrogen projects that China is engaging in, connecting Mongolia to Beijing through a vein filled with green hydrogen potential.
Understanding the core premises behind transporting green hydrogen
With hydrogen being produced using wind energy in Inner Mongolia through electrolysis, the wind energy is being split into hydrogen and oxygen through electricity. This hydrogen gets compressed and is then transported through a highly pressurized pipeline. The transported hydrogen finds its way to the Sinopec Yanshan Refinery in Beijing.
Having a direct pipeline transporting the hydrogen reduces costly carbon-incentive trucking and the need to amalgamate hydrogen with natural gas. At the same time, this initiative seeks to address the problem of wasted wind due to a lack of storage infrastructure. The pipeline serves the corridor that aligns the movement of clean energy from Mongolia to Beijing in somewhat of a cost-effective loop. In creating this corridor, China is working towards its mission of being a national hydrogen economy.
Asia’s hydrogen heart seems to be beating successfully
Thus far, Inner Mongolia serves as the testing grounds for China’s broader hydrogen strategy. In Inner Mongolia, the blueprint has been set out for the hydrogen infrastructure. With this blueprint in hand, the vision is to ensure that the country secures the largest green hydrogen production as well as an export base. By creating a hydrogen base, Northern and Eastern China will be provided with hydrogen so as to scale up sustainable initiatives.
China is ambitious in terms of its blueprint and its futuristic vision; however, China will also face competition from what was said to be the largest hydrogen highway to link America to Europe, ensuring 10 million metric tons and an entirely new color of hydrogen is being transported. The question is, can Asia’s secret corridor compare with the likes of the largest hydrogen highway?
China’s heart continues to beat for clean power and hydrogen
China has always been at the very forefront of discovering energy to power the Earth, so much so that China even found 1,800 tons of clean potential between the mountains. China has now shown its commitment towards national energy goals and is looking to expand on clean hydrogen production.
While China’s secret corridor does hold promise, experts warn that the success of the project is ultimately based on market demand and price competitiveness. Although certain industries will embrace hydrogen readily, clear policy incentives may be required should China wish to up its hydrogen transportation game.
TMK turns up the gas with record Mongolian pilot flows www.thewest.com.au
TMK Energy has notched up a 60 per cent month on month jump in gas output from its flagship Gurvantes XXXV coal seam gas project in Mongolia, setting the stage for a ramp-up in activity as it shifts into full field development planning.
The company says the project’s September gas tally hit nearly 10,000 cubic metres, just shy of a monthly record, with standout flows coming from its most recent well, LF-07, which is producing at strong rates even at low pump speeds. TMK says the strong flow rate is a clear sign the company’s updated drilling and reservoir management techniques are paying off.
Water production across the pilot field also held steady at about 500 barrels per day, a critical metric that indicates good potential for future gas flows as the wells continue to dewater.
Notably, LF-02, which has been long regarded as one of the best gas producers in the program, was shut in for much of September for testing, but still managed to produce about 30 cubic metres of gas per day during that period. This suggests some of the coal seams are already releasing gas under their own pressure, a process known as desorption - a big step forward for the pilot project.
From a production operations perspective, the Pilot Well project has continued to perform in line with expectations and is currently producing gas at near record levels.
TMK Energy chief executive officer Dougal Ferguson
Gurvantes spans 8400 square kilometres in the South Gobi Desert, less than 50 kilometres from China’s Shivee Khuren border crossing and close to important Chinese gas infrastructure.
The area is known for its enormous coal deposits and therefore ideal for coal seam gas production. The gas field contains a 1.2 trillion cubic feet (Tcf) contingent resource and offers further significant upside potential from a 5.3Tcf prospective resource still to be explored.
TMK Energy has now drilled seven operational wells at its Lucky Fox pilot project within the Gurvantes XXXV coal seam gas field and has been steadily turning up the dial on production since Christmas.
With LF-07 now online and flowing strongly, management says every well in the program is performing in sync with its revamped reservoir management plan - a playbook designed to protect the wells and coax the best gas flow from the coal seams.
Through September, the company deliberately kept the pumps running at low speeds to fine-tune its approach, ensuring the seams stay healthy while its newly appointed coal seam gas reservoir engineer analyses how to extract gas more efficiently.
The updated strategy has been designed to focus on drawing out as much water as possible - the key to freeing up gas pressure - while curbing the build-up of troublesome coal dust, or “fines,” that can clog pumps and slow output.
Every barrel of water and cubic metre of gas produced is adding valuable insight. The data is being used to build a predictive model, or “type curve,” showing how a standard production well is likely to behave over time.
The company says that model will then become a cornerstone of TMK’s full-field development plan as the company prepares to scale Gurvantes into a commercial gas project.
In August, Management also announced a strategic alliance with Beijing-based J-Energy to harness the gas specialist’s technical expertise and regional connections to quickly advance the project should commerciality be proven.
Despite some unexpected power outages affecting operations in September, TMK remains upbeat about the direction of the pilot campaign and is now pushing ahead with a broader 2025 exploration program, backed by a recently oversubscribed $3.5 million placement.
To support this next phase of activity, it has also hired a full-time Operations Superintendent who will take up the role in early November.
With near-record gas now flowing, new exploration kicking off and field-wide planning entering high gear, TMK Energy looks to be shifting gears in Mongolia’s South Gobi Basin. The project is edging closer to becoming a commercial-scale producer and the market will no doubt be watching closely.
Mongolia's foreign trade drops 5.7 pct in first 9 months www.xinhuanet.com
Mongolia's foreign trade turnover totaled 19.2 billion U.S. dollars in the first nine months of 2025, a 5.7 percent decrease compared to the same period last year, according to the National Statistics Office (NSO) on Tuesday.
During the period, exports fell 9.1 percent to 10.7 billion dollars, while imports dropped 0.9 percent to 8.5 billion dollars.
The reduction in exports is attributed mainly to the decline in supply of coal, crude oil, sheep and goat meat and washed cashmere from Mongolia to foreign countries.
The landlocked country traded with 160 economies worldwide in the January-September period.
President of Mongolia U. Khurelsukh to Pay a State Visit to the Republic of India www.president.mn
At the invitation of Her Excellency Droupadi Murmu, President of the Republic of India, and His Excellency Narendra Modi, Prime Minister of India, His Excellency Khurelsukh Ukhnaa, President of Mongolia, will pay a State Visit to India from 13 to 16 October 2025.
This visit is of particular significance as it is being undertaken within the framework of the 70th anniversary of the establishment of diplomatic relations between Mongolia and the Republic of India.
During the visit, President Khurelsukh Ukhnaa will hold meeting with President Droupadi Murmu and official talks with Prime Minister Narendra Modi to discuss the further expansion and development of the “Strategic Partnership” between Mongolia and India, as well as a broad range of regional and international matters.
As part of the visit, a Mongolia–India Business Forum will be organized, along with a cultural performance titled “Beautiful Mongolia” and exhibitions showcasing Mongolian fine art and the traditional Morin khuur (horsehead fiddle).
Prime Minister of the Republic of India, His Excellency Narendra Modi, paid an official visit to Mongolia in 2015, during which the relations between the two countries were elevated to the level of a “Strategic Partnership”.
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