1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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

NEWS

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Mongolian commercial banks impose limitations on daily volume of forex transactions www.xinhuanet.com

Mongolian commercial banks have imposed limitations on foreign-exchange transactions amid the country's dwindling forex reserves due to the COVID-19 pandemic and ongoing conflict between Russia and Ukraine.
Mongolia's forex reserves fell to 3.3 billion U.S. dollars as of Tuesday, down 1.2 billion dollars from the end of 2021, Atarbaatar Enkhjin, head of the reserve management and financial markets department of the Bank of Mongolia, said in a statement.
The decline in forex reserves is likely the result of a 40-percent increase in imports since the beginning of this year, and COVID-19 restrictions have prevented the country from exporting much of its coal, its main export product, despite the high prices of raw materials in the world market.
"Also, due to the situation between Russia and Ukraine that began in late February, the uncertainty of the external environment is deteriorating beyond our expectations. Due to this, there is a certain pressure on the forex reserves and the exchange rate of the Mongolian Tugriks," Enkhjin said.
Mongolia's forex reserves stood at 4.9 billion dollars at the end of April 2021, hitting an all-time high, according to the central bank.
Since the beginning of the conflict between Russia and Ukraine on Feb. 24, Mongolian commercial banks have begun to impose unexpected limitations on the daily volume of transactions of U.S. dollars.
The central bank explained that limiting U.S.-dollar transactions was not made by the Bank of Mongolia but by commercial banks themselves due to the lack of foreign exchange supply in the market.
A month ago, a daily limit of 50 million Mongolian tugriks (about 16,550 dollars) was imposed on foreign currency transactions for individuals. The amount then dropped sharply to 30 million and continued to fall to the current limit of 300,000 tugriks (about 99.3 dollars).
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Mongolia Jan-Mar coal exports log large drop www.sxcoal.com

Mongolia exported 2.52 million tonnes of coal during the first three months of 2022, down 62.18% year on year, showed the latest data from the Mongolian Customs General Administration (MCGA).
The exports were worth $676 million in January-March, down 1.9% year on year.
MCGA didn't release the specific figure for March, yet Sxcoal calculated the exports at 1.23 million tonnes based on the overall exports published by the customs authority, down 42.83% year on year but up 81.99% month on month, registering the third consecutive month of rise.
The exports were worth $349 million in March, with average price at $284.76/t, rising $172.10/t year on year and $13.49/t month on month.
coal,coal price,coke,China coal,coking coal,thermal coal
Mongolia exported 2.34 million tonnes of coal to China from January to March, dropping 62.51% year on year, taking up 93% of the total.
In March, exports to China declined 44.50% year on year but rose 80.18% month on month to 1.13 million tonnes, taking up 92% of the total. The exports were worth $323 million, with average price at $285.14/t, up $174.64/t year on year and $12.03/t month on month.
coal,coal price,coke,China coal,coking coal,thermal coal
Mongolia's exports of bituminous coal declined 62.00% year on year to 2.49 million tonnes over January-March; that of anthracite were 35,900 tonnes, compared with zero a year ago; and other coal exports fell to zero, compared with 126,900 tonnes a year earlier.
coal,coal price,coke,China coal,coking coal,thermal coal
In March, Mongolia's bituminous coal exports stood at 1.21 million tonnes, down 42.27% year on year but up 81.94% month on month; exports of anthracite stood at 19,300 tonnes, rising 85.32% year on year; other coal exports were null in March, compared with 54,300 tonnes a year ago.
(Writing by Lilya Li Editing by Tammy Yang)
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Ivanhoe’s Congo copper mine hits record production www.mining.com

Ivanhoe Mines (TSX: IVN) saw its Kamoa-Kakula copper mining complex in the Democratic Republic of Congo (DRC) hit a new production record in the first quarter of this year, with 55,602 tonnes in the period.
The Canadian miner, which kicked off production at the asset last year, said the operation also reached a monthly all-time-high of 19,605 tonnes of copper produced in March.
Commercial production of the 3.8-million-tonne-a-year Phase 2 concentrator plant at Kamoa-Kakula was declared last week, Ivanhoe said. This pushed daily output to a fresh high on April 8, with 25,126 tonnes milled and 1,202 tonnes of copper produced.
The company is confident the early commissioning of the Phase 2 concentrator plant will enable Kamoa Copper to reach the upper end of its 2022 copper production guidance of 290,000 to 340,000 tonnes of copper in concentrate.
The Phase 3 expansion is also advancing, Ivanhoe said, with first copper production expected by the end of 2024.
Co-chairperson Robert Friedland, who made his fortune from the Voisey’s Bay nickel project in Canada in the 1990s, believes the complex will become the world’s second-largest copper mine with the highest grades among major operations.
The Vancouver-based company has also vowed to produce the industry’s “greenest” copper, as it works to become the first net-zero operational carbon emitter among the world’s top-tier copper producers. Friedland has not set a target date for achieving that goal.
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Thermal power plants to be built in three soums of Zavkhan aimag www.montsame.mn

Construction work of a 25MW thermal plant will begin this May in Uliastai soum of Zavkhan aimag.
Within the framework of the government’s New Revival Policy, thermal plants with capacity of 25MW, 30MW and 5MW are planned to be built in Uliastai, Tosontsengel and Aldarkhaan soums respectively.
This year, it is also expected to have large construction works including ‘Arts suuri - Shivee khuren’ railroad, 167km auto road from Numrug and Tuduvtei soums to Arts suuri border crossing, 190 km auto road between Altai and Uliastai soums as well as wastewater treatment plant in Uliastai soum.
Zavkhan aimag receives more than 70 percent of its energy from central energy grid and 30 percent from the Taishir hydropower plant. The construction of abovementioned facilities will have a significant impact on the aimag’s economy and livelihoods, creating opportunities for SMEs development.
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eGA continues to support digital transformation in Mongolia www.ega.ee

The Ministry of Digital Development and Communications of Mongolia and the e-Governance Academy signed a Memorandum of Understanding on 8 April to support the digital transformation of Mongolia.
The MoU was signed by B. Bolor-Erdene, State Secretary of the Ministry of Digital Development and Communications, and Hannes Astok, Executive Director of the e-Governance Academy.
The memorandum covers the following activities:
Digital skills improvement of civil servants responsible for the digital transformation of the government
Exchange of experience in introducing new, innovative and advanced technologies,
Support the development of the digital transformation strategies and e-government regulatory models
Improvement of the interoperability between main registers and databases
Re-design of e-services, development of digital identity and digital signature, and e-government financing framework
Cyber security capacity building
The collaboration with the Government of Mongolia started in 2020 with consultations on the e-government related policy development, the interoperability between public registers and databases and citizens’ digital awareness raising. Moreover, eGA experts compiled recommendations to the partner organisation (CITA) on key activities for further digital transformation.
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Mongolia Economic Forum 2022 - International partnerships to deliver $49bn investment plan for Mongolia www.eureporter.co

Mongolia’s government has outlined the details of a sweeping economic roadmap for post-Covid revival. Dubbed the ‘New Recovery’ policy, the reform package combines both structural policy changes, such as partial privatisation of some state-owned enterprises, and major infrastructure initiatives, including the approval for a light rail transit system in the capital.
Luvsannamsrain Oyun-Erdene invited local businesses, foreign partners and international organisations to cooperate on a 150 trillion MNT ($49b) investment goal, that aims to double GDP by clearing hurdles in six priority areas: energy, border ports, industrialization, urban and rural recovery, green development, and public sector efficiency.
Approved by the Mongolian parliament in December, the policy comes atop the already-committed 10 trillion MNT ($3.3b) for financial aid, helping to keep over 64,400 businesses afloat and save 360,000 jobs.
Prime Minister Oyun-Erdene also highlighted the government’s push for higher transparency and accountability, as part of the ambition, to reduce institutional corruption and improve the overall business climate. The Prime Minister thus announced a plan for partial privatisation of some state-owned enterprises via follow-on public offerings of up to 34% equity on the Mongolian Stock Exchange as one of the mechanisms to infuse private
sector expertise and good governance best practices.
Discussions at the Forum also addressed immediate economic concerns. The Prime Minister revealed that the government has just introduced a bill outlining a price-capping mechanism to stabilise prices of meat, flour and petroleum to the Mongolian parliament, in response to record inflation.
In his closing remarks, Prime Minister Oyun-Erdene highlighted the Forum’s dual role as a place for consultation with the industry and also as a platform to generate growth that should be accessible and shared by every Mongolian, also extending appreciation to the Mongolian youth for their activism.
The Mongolian Economic Forum 2022 is the 9th time the event has been held at the Government Palace in Ulaanbaatar since its inception in 2010. The annual two-day forum was hosted by the Prime Minister of Mongolia and presents attendees with the opportunity to hear from the senior members of the
government, as well as interview opportunities with ministers responsible for key policy measures. Experts from diverse fields also undertake panel discussions about the future of the Mongolian economy.
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ODIHR experts discuss electoral recommendations in Mongolia www. osce.org

From 5 to 8 April 2022 a team of election experts from the OSCE Office for Democratic Institutions and Human Rights (ODIHR) met with electoral stakeholders in Mongolia to present the final report of ODIHR’s Special Election Assessment Mission to the 9 June 2021 presidential election.
The report’s findings and recommendations were presented to representatives of the General Election Commission, the Ministry of Foreign Affairs, the State Audit Office, the Communications Regulatory Commission, the Administrative Court of Appeals, the Parliamentary Committee on State Structure, and other government ministries and agencies, as well as to representatives of civil society organizations and the international community.
“ODIHR encourages the government and other stakeholders to start working on electoral reforms well ahead of the next elections,” said Lolita Cigane, Head of ODIHR’s Special Election Assessment Mission to the 2021 presidential election. “We greatly value our co-operation with our Mongolian partners and are looking forward to holding discussions in the near future on how to further strengthen Mongolia’s electoral process.”
ODIHR reiterated that the elections were well-administered and competitive, with candidates able freely to convey their platforms to voters. However certain regulations, including those on the right to stand and on media coverage of the elections, are overly restrictive. ODIHR drew attention to its priority recommendations, such as allowing for independent candidates and nominations from non-parliamentary parties, as well as measures to improve the regulation of the campaign, campaign financing, and the media.
The authorities discussed ODIHR’s potential engagement in providing legal and technical expertise to assist in implementing these recommendations. This may include discussions or a legal review related to potential changes to the electoral system and amendments to the electoral legislation, and the potential contribution from ODIHR to exploratory discussions related to the implementation of electronic voting.
All OSCE participating States have committed to promptly follow up on ODIHR’s electoral assessments and recommendations.
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Mongolia is open, transparent, and ready for business www.eureporter.co

Last week Ulaanbaatar hosted the 2022 ‘Mongolia Economic Forum,’ with hundreds of representatives from across the government, private sector and civil society coming together over two days to discuss the country’s pressing economic issues and the elements of the government’s ‘New Recovery’ Policy: Mongolia's plan for recovery and renewal through public-private partnerships.
"A very difficult crisis between Russia and Ukraine that began on Feb 24 has become one of the most pressing geopolitical challenges for the world. This is a blow to the economies of countries that have just begun recovering from the two-year pandemic and to the positive outlook of the world's banking and financial institutions on economic growth" Mongolian Prime Minister Luvsannamsrai Oyun-Erdene told the opening ceremony of the forum.
"Now, we are also facing the challenge of how to grow the Mongolian economy in these difficult times – but we are optimistic," Oyun-Erdene said, noting that Mongolia has already started working on the restart of the economy.
The Forum is organized in accordance with the country’s ‘New Recovery’ Policy framework - introduced to revive the country's economy post the COVID-19 pandemic, including comprehensive reforms in such fields as ports, energy, industry, green development and government productivity.
Nomin Chinbat is the Culture Minister for Mongolia and Chair of the Mongolia Economic Forum Working Group.
Speaking to EU Reporter, she said
“Mongolia is open for foreign direct investment and tourism, directly thanks to my country’s handling of the pandemic and the large uptake of vaccines across the country thanks to the government’s vaccination drive. Our economic future will be driven by the ‘New Recovery Policy’ which is the government’s plan for economic growth and prosperity.”
Fundamental to the growth of the economy was the action taken by the government on Covid. “It feels like we're once again living under normal conditions. As of a month ago almost all restrictions were lifted. Amongst those who would be classed as vulnerable, we have vaccinated 96% with one dose, 92% with two doses of vaccine, whilst 53% of those classed as vulnerable have had three vaccine doses. We have vaccinated around 70% of the overall population with one shot, 67% with two shots and over 32% with a third booster shot.
“Other countries started by vaccinating the vulnerable, but we actually approached it the other way around. Here, multiple generations of families live together, so we started with the people who actually go out a lot into society rather than those staying at home. In my opinion, that was the right move.
“During the pandemic, we focussed on the health of the nation first, rightly, and thereafter shifting our attention to both that of public health and the wider economy. We are now laser-focused on the wider economy and driving growth.
“This means not just holding an economic forum, but demonstrating that our lives can go back to normal, that we’re open for business for anyone to come to Mongolia, that our tourism sector is open, and that our businesses are back too.
“It’s been challenging but having said that we're back and have started to welcome tourists. We are formulating policies that can further bring tourists to the country.
“Just to name a couple, we have an open-air policy coming being brought forward as well as e-visas, where people can come to visit and obtain a visa at the border.
“We’re a small country with many different cultural backgrounds. We have a rich cultural heritage, which is something we are excited to show off as a result of our past. You have to remember that our nomadic culture and society were pretty much preserved as were up until thirty years ago.
“The economy changed to be more democratic, and tourism and business have opened up. As a result, we have managed to preserve our cultural heritage really well. We have a culture and nomadic lifestyle which is a bit different from what you may know, and so based on our nomadic history and background, our art and culture are very unique.
“Since I took over the position of Minister of Culture we have worked closely with a former advisor to UNESCO on our cultural creative industry development policy.
“And we've just recently finished with our White Paper and roadmap, so in that sense, we are working on creating alternative industry development opportunities.
“We've selected the 12 sectors in which to promote our creative industries, and from these, five sectors as our key sectors, including film, fine art, music, fashion and gaming, which is what our future generations are already interested in.
Our young people rarely watch TV anymore, they're interested in living their life online in the metaverse. So we've created our policy based on the resources that we have and what we believe the future will look like, and then, using our heritage, we’re putting together a credible offer to a global audience. We’re making integrated plans with a number of parties to make sure that through content, art, and through culture we promote our country and develop our creative industries sector.
“So, from our country’s perspective, we've established our long-term plan – our Vision 2050. Based on that we have narrowed it down to a more immediate strategy, namely the ‘New Recovery’ Policy.
“These look into the problems and constraints that could stop our economy from developing further. I think one specific message we want to communicate from the Economic Forum is that we're open for business, we're open to working together, and we are looking for investors.
“We want investors to come in, we have projects available, and our government is open, transparent, and ready for cooperation. “
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Mongolia puts its first metal powder plant into operation www.xinhuanet.com

Mongolia has officially put into operation its first-ever metal powder plant here, the country's Ministry of Mining and Heavy Industry said on Monday.
The country's first export-oriented metallurgical plant called "Steppe Metal Powder" has an annual capacity of producing at least 3,000 tons of powders of copper, brass, bronze, tin and other metals, the ministry said in a statement.
"The commissioning of the innovation-based plant lays the foundation for raising the level of Mongolia's domestic metal processing and creating a value-added production network that can compete in the world market. We believe that the plant will contribute to the country's economic growth through the development of import substitution and export-oriented products," Gelen Yondon, minister of mining and heavy industry, said at the commissioning ceremony of the plant.
The powder metallurgy plant is expected to export its products to countries and regions in high demand for metal powders, such as China, South Korea, Japan, India and the European Union, according to the ministry.
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Mongolia Jan-Mar iron ore exports up 15.2% MoM www.sxcoal.com

Mongolia exported 616,200 tonnes of iron ore in January-March 2022, tumbling 67.78% or 1.3 million tonnes year on year, showed latest data from the Mongolian Customs General Administration (MCGA).
The total export value slumped 75.91% on the year to $57.45 million during the first three months, data showed.
China was the only destination of Mongolian iron ore during the period.
coal,coal price,coke,China coal,coking coal,thermal coal
MCGA didn't release the specific figure for last month, yet Sxcoal calculated the exports at 307,300 tonnes based on the overall exports published by the customs authority, falling56.24% year on year but rising 15.2% on the month.
The iron ore exports amounted to $31.88 million in March, with average price at $103.74/t, down $26.41/t from a year ago but rising $18.97/t from a month earlier, data showed.
(Writing by Rebecca Liu Editing by Harry Huo)
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