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    

Events

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

NEWS

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Mongolia aims to have a population of 5 million by 2050 www.news.mn

The Mongolian population has been decreasing steadily in recent years. According to the information of Mongolian Statistics Committee, 57300 mothers gave birth in 2024. This is a decrease of more than 10 percent from the previous year.
Mongolia’s long-term development policy aims to have a population of 5 million by 2050. If the annual population growth exceeds 1.7 percent per year, Mongolia will reach the goal. But based on current indicators, Mongolia’s population will not reach the level by 2050.
The decreasing birth rate has many causes. One of these causes is that women of reproductive age are having children later. Experts say that the birth rate is expected to decline further by 2030. In Mongolia, a family with 2–3 children is considered a large family. As of today, there are 167 thousand families with three or more children.

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International Open Tender for the Thermal Power Plant No. 5 to Be Announced in May www.montsame.mn

The Thermal Power Plant No. 5 with a capacity of 340 Gcal of heat and 300MW of electricity will be built in the 20th khoroo of Bayangol district, Ulaanbaatar.
Governor of the Capital City of Mongolia and Mayor of Ulaanbaatar Nyambaatar Khishgee remarked, “Ulaanbaatar has not built a single power plant in 41 years since 1984, resulting in the slow urbanization of the city. Therefore, preparations have been made to announce an international open bid for the Thermal Power Plant No. 5 (TPP-5) in May 2025 to increase the heat supply in the western part of Ulaanbaatar. An environmental impact assessment has been conducted, and the feasibility study has been revised. The new feasibility study concluded that the initially planned 10 hectares of land are insufficient for the construction of the power plant. With the additional land acquisition, the TPP-5 Project will be implemented on 15 hectares.
Enterprises and organizations affected by the land acquisition will be compensated or provided with equivalent land in accordance with the Land Law of Mongolia. The construction of TPP-5 will provide heat to Tavan Shar, 21st district, “Khilchin” Town, Tolgoit, Bayangolyn Am, Bayankhoshuu, the 1st, 3rd, and 4th districts. Approximately 51 thousand households will be provided with central heating.
Moreover, the Ulaanbaatar City Engineering Plant includes the expansion of the “Amgalan” TPP to improve heat supply to the eastern part of the city and significantly reduce the load on TPP 4.

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Non-Resident Ambassadors to Mongolia Present Letters of Credence to the President of Mongolia www.montsame.mn

On April 21, 2025, non-resident Ambassadors Extraordinary and Plenipotentiary of foreign countries to Mongolia presented their Letters of Credence to President of Mongolia Khurelsukh Ukhnaa.
Ambassador Extraordinary and Plenipotentiary of the Kingdom of Cambodia to Mongolia Soeung Rathchavy, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of Burkina Faso to Mongolia Daouda Bitié, Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to Mongolia Vahe Gevorgyan, Ambassador Extraordinary and Plenipotentiary of the Republic of Zambia to Mongolia Ivan Zyuulu, Ambassador Extraordinary and Plenipotentiary of the United Republic of Tanzania to Mongolia Khamis Omar, and Ambassador Extraordinary and Plenipotentiary of the Kingdom of Norway to Mongolia Vebjørn Dysvik presented their Letters of Credence to President of Mongolia Khurelsukh Ukhnaa. President Khurelsukh expressed congratulations to the non-resident Ambassadors on assuming their duties and wished them success. 
The Head of State of Mongolia expressed confidence that the Ambassadors would strive to strengthen bilateral relations and cooperation, and affirmed that the State and Government of Mongolia would provide full support in this regard. President Khurelsukh emphasized Mongolia’s commitment to enhancing cooperation within the international community, including the United Nations and other international organizations.

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Reviving the Steppe: Mongolia's Living Laboratory for Combating Desertification www.undp.org

Nearly eighty percent of Mongolia’s land is degraded, that is nearly twice as much as the global rate. This stark reality places the country at the center of one of the world’s most urgent environmental challenges—desertification. As grasslands give way to dust and livelihoods are pushed to the brink, Mongolia is a powerful example of both the severity of land degradation and the real, replicable solutions to reverse it.
That is why, in 2026, Mongolia will host the 17th session of the United Nations Convention to Combat Desertification (UNCCD COP17), a crucial global forum to accelerate action against desertification, land degradation, and drought. This recognition reflects not only the scale of the country’s land degradation, but also Mongolia’s growing voice in the global movement to restore ecosystems and protect the communities who depend on them.
Mongolia is home to some of the world’s most fragile rangelands, with desertification threatening biodiversity, rural livelihoods, and food security. In response, the country has launched bold initiatives, like the “Billion Tree” campaign to restore degraded ecosystems and the successful effort to designate 2026 as the International Year of Rangelands and Pastoralists, approved by the United Nations. By hosting COP17, Mongolia is offering its land, experience, and solutions to the world.
UNDP Mongolia
One such experience can be found in Mongolia’s Research and Experimental Station for Desertification Mitigation in Elsentasarkhai, strategically located between the grassland and the desert. Established in 2011, this unique 45-hectare site, one of the only three in the country, is reshaping how the country approaches desertification by becoming the testing ground for land restoration and sustainable land management solutions. 
Supported by UNDP’s “Sustainable Land Management to Combat Desertification” project (2008–2012),  funded by the Swiss Agency for Development and Cooperation (SDC), and the Government of the Netherlands, the Station has grown from a modest outpost into a living laboratory for scalable, community-adapted solutions. With support from the project, the Station was equipped with essential infrastructure—including a training center, solar panels, and a transport vehicle, as well as capacity-building training for staff. These contributions played a crucial role in ensuring the Station's sustainable operation over the past 14 years.
Here, science meets the soil, literally. The station tests everything from straw-based sand barriers that halt dune movement, to windbreak forest belts that reclaim degraded roadsides, to the cultivation of 21 rare and endangered native tree and shrub species. Each intervention is tested not in theory, but in the dry, wind-swept conditions that define much of Mongolia’s rangelands.
“We call it a station, but it is really a living laboratory,” says Dr. Khaulanbek Akhmadi, Senior Researcher of Desertification Study, Institute of Geography and Geoecology of Mongolia, and Adviser to the Minister of Environment and Climate Change. He is also the Station’s founding lead scientist, who has been overseeing the operation since 2011. “Everything we try here is meant to work not just in theory, but in the real, harsh conditions herder communities face every day.”
The Station’s influence extends well beyond its physical boundaries. Its research directly informs Mongolia’s National Action Programme to Combat Desertification, feeds into major national efforts like the Billion Trees campaign, and provides a foundation for future climate-resilient planning.
UNDP Mongolia
One of the station’s successes has been the development of windbreak forest belts. Across a stretch of degraded land, rows of hardy native trees were planted in strategic patterns. These strips reduced wind speeds, enabling sand to accumulate and perennial grasses to re-establish themselves naturally, a proof that nature-based solutions can reverse the desert's advance.
“This is not just about planting trees,” says Matilda Dimovska, UNDP Resident Representative in Mongolia. “It’s about piloting what works, proving it, and then scaling it through national leadership. This Station is the testing ground that feeds into Mongolia’s broader land restoration strategy.”
In another project, the station installed mechanical straw barriers across 10 hectares of shifting sand dunes spanning Bulgan, Uvurkhangai, and Tuv provinces. These simple but effective 1x1 meter grids stabilize sand for 3–4 years giving native vegetation a chance to reclaim the land. 
Training and public awareness are also core to the Station’s work. Through partnerships with local governments and conservation authorities, the Station regularly hosts workshops on land degradation monitoring, seed propagation, and environmental stewardship. For herders, local officials, and students, the station is more than a research site, it’s a place of learning and action.
“The station embodies the spirit of what we hope to showcase at UNCCD COP17,” says Her Excellency Chimguundari Navaan-Yunden, Ambassador-at-Large and Director of Mongolia’s COP17 Preparatory Office. “It is a model of how science, community, national government, and international cooperation can come together to address one of the most pressing issues of our time.”
UNDP Mongolia
The center’s operations are also climate-smart. Since 2011, it has operated a solar-powered deep well providing uninterrupted access to water for over a decade. Also, the Station takes advantage of energy generated by solar panels. This low-cost, low-maintenance solution allows it to operate more sustainably and clean compared to coal-based electricity-generating solutions. 
At a time when scientific and practical expertise in land degradation and desertification is needed more than ever, the Station is also emerging as a vital knowledge hub serving not only as a research site, but also as a learning ground for the next generation of scientists. It has supported over 40 research projects, including five international collaborations, and has attracted Master’s and PhD students from Mongolia and abroad, including from the Republic of Korea.
UNDP Mongolia
“We are grateful to see that the investments made by SDC and the Government of the Netherlands in our project have had a significant impact here,” says Matilda Dimovska, UNDP Resident Representative in Mongolia. “The lessons from Elsentasarkhai extend far beyond its borders. This is a story of transformation of land, of knowledge, and of national capacity.”
As Mongolia prepares to host UNCCD COP17, the Station in Elsentasarkhai offers a concrete model for action grounded in science, driven by experience, and equipped with tried-and-true local solutions to inform global progress in sustainable land management. Its success reflects what is possible when local institutions are empowered, international partners collaborate meaningfully, and innovation is rooted in the realities of rural life.

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Lukashenko Invites 150,000 Pakistanis To Work In Belarus Amid Labor Shortage www.rferl.org

In a rare moment of international visibility, Belarusian strongman Aleksandr Lukashenko welcomed Pakistani Prime Minister Shehbaz Sharif for an official visit to Minsk on April 10, hailing it as a significant milestone in bilateral relations.
The visit, which continued on April 11, resulted in multiple agreements spanning military cooperation, food security, and trade. Most notably, Lukashenko offered to accept up to 150,000 Pakistani workers to help address Belarus's deepening labor shortage.
For Lukashenko, whose presidency remains unrecognized by the West following the widely disputed 2020 election and subsequent brutal crackdown on dissent, any direct engagement with a foreign leader carries enormous symbolic and strategic value. Isolated diplomatically, shunned by the European Union and the United States, and increasingly reliant on Moscow, Lukashenko has few opportunities to present himself as a legitimate international actor.
"Pakistan has many people who want and are ready to work in Belarus," Lukashenko said during a joint press conference, emphasizing Belarus would create the "necessary conditions" for their employment. With more than 198,000 job vacancies reported across the country, the proposal aims to inject labor into an economy under pressure.
The move, however, raises alarm bells across neighboring European Union states.
The offer to import tens of thousands of Pakistani workers can certainly be viewed with suspicion in neighboring NATO member states Poland, Latvia, and Lithuania.
In a 2021-22 border crisis, Belarus was accused of using migrants as pawns in a political standoff with the EU. Belarus facilitated travel for migrants from the Middle East, Africa, and South Asia -- including Pakistan -- and directed them toward the EU's external borders, triggering a humanitarian and security crisis.
At the time, thousands of migrants were left stranded in forests along Belarus's borders with Poland, Latvia, and Lithuania, often with no food, shelter, or legal protection.
Belarusian authorities were accused of weaponizing migration in retaliation for Western sanctions.
Polish, Latvian, and Lithuanian border guards resorted to pushbacks, resulting in dozens of deaths, international condemnation, and an enduring mistrust of Minsk's migration policies.
During the visit, Belarus and Pakistan signed a military cooperation agreement and a roadmap for defense-industrial ties through 2027, deepening ties between the two countries, as well as other pacts and economic memoranda.
Notably absent from the spotlight, however, is any substantial record of recent trade volume.
The Belarusian Foreign Ministry last reported annual bilateral trade with Pakistan for the year 2020, saying it ranged from $50 million to $65 million -- a far cry from a 2015 vow to grow trade between the two countries to $1 billion.
For comparison, Pakistan's primary trading partners in 2023 included China, the United Arab Emirates, and Saudi Arabia; Belarus didn't make the list.
For Lukashenko, however, Sharif's visit may offer a diplomatic lifeline and a moment of validation. For the EU, it brings back memories of 2021-2022. It may be a warning sign that the authoritarian leader of Belarus could once again use people as leverage in his ongoing standoff with the West.

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Two More Russia-Mongolia Border Logistics Terminals To Be Built In Buryatia www.russiaspivottoasia.com

Two more logistics terminals will be built on the Russian border of Buryatia with Mongolia: one near the Naushki railway checkpoint, the second near the Kyakhta checkpoint, according to the Kyakhtinsky government. The construction projects will begin immediately, and should be completed by 2027.
The local newspaper stated that Andrey Fomin, the head of the Kyakhta district, and Nikolai Kushnir, director of the TLT (customs and logistics terminal) in Kyakhta, signed agreements on the implementation of two large-scale investment projects that will strengthen the district’s status as an important transport and logistics hub on the border with Mongolia.
The first project provides for the construction of a customs and logistics terminal in the village of Naushki, next to the main railway checkpoint between Russia and Mongolia. The work is expected to be completed within two years from 2025 to 2026.
The second agreement provides for the launch of the 2nd and 3rd stages of the customs and logistics terminal CLT Kyakhta, which was opened in October last year. Warehouses, access roads, security systems, etc. are being upgraded here, which will increase the capacity of the logistics centre.
CLT Kyakhta, which is sited by the cross-border vehicle checkpoint, includes warehouses, inspection areas, loading and unloading sites, as well as accredited laboratories, where veterinary certificates and acts of quarantine phytosanitary control can be issued, and quarantined products evaluated.
The total area of CLT Kyakhta is 189,000 square metres. Its customs control area will be able to accommodate up to 80 trucks, while temporary storage warehouses can accommodate up to 350 trucks at a time.
The development of the logistics infrastructure in the Kyakhta region will increase not only the direct cargo flow between Russia and Mongolia, but also the transit of Chinese goods to Russia through Mongolia.
Russia-China trade equated to US$244.8 billion in 2024, with Mongolia entering into a Free Trade Agreement via the Eurasian Economic Union with Russia from May this year.
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7 killed, 6 injured in road accidents in Mongolia in 3 days www.xinhuanet.com

Seven people have been killed and six others injured in road accidents in Mongolia in three days, the country's traffic police department said Monday.
"The overwhelming majority of these traffic fatalities occurred in rural areas during the weekends," the department said.
Road accidents in Mongolia happen more often during the weekends due to an increasing number of people who travel to the countryside, said the department, urging drivers to strictly comply with road traffic regulations to protect themselves and their loved ones.
In 2024, 21,485 road traffic accidents were recorded across Mongolia, killing 83 people and injuring 1,528 others, according to the traffic police department.

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Invitation: 1st Global Coking Coal Conference 2025. May 20-22 in Xiamen, China www.sxcoal.com

Against the backdrop of accelerating global energy transition and carbon neutrality goals, coking coal—a critical raw material in the steel industry chain—is undergoing profound transformations in its supply-demand dynamics, trade flows, and sustainable development pathways. In this context, the 1st Global Coking Coal Conference will be held during May 20-22 in Xiamen, China.
Key topics will cover:
ž   China, as the world’s largest steel producer and coking coal consumer, will play a pivotal role in shaping global trade patterns. Key factors include the operational trends of its steel industry, green and low-carbon transition pathways for its coking sector, and the challenges and opportunities within its domestic coal market.
ž   International Coking Coal and Coke Trade Dynamics and Market Opportunities
ž   Mongolian Coal Industry Prospects and Pricing Methods Exploration
ž   Russia's Coking Coal Domestic Demand, Export, and Potential Market Variables
ž   How Does Australian Coking Coal Cope with Significantly Increased Costs?
ž   Indonesia's Coking Industry: Prospects, Challenges, and Coal Sources Selection
ž   India's Steel and Coking Industries: Current Status, Future Trends, and Coking Coal Demand Prospects
ž   Key industrial technologies advancements going green
The event aims to invite industry leaders and experts to delve into the synergies and competition between China and global coking coal markets, analyze technological pathways and market opportunities under green transition pressures, and assess the impacts of geopolitical factors, cost volatility, and trade policies on resource flows. The goal is to provide strategic foresight and decision-making insights for stakeholders across the global industrial chain.
Email: ailsa.wang@fwenergy.com

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Amendments to Parliamentary Election Law approved www.ubpost.mn

The first round of discussions on the draft amendments to the Law on Parliamentary Elections took place during a recent session of the parliament, following the Constitutional Court's third official opinion on the matter. The proposed changes were prompted by the court's conclusion that certain provisions of the current law violate key constitutional principles.
The Constitutional Court ruled that Subsections 41.9 and 44.6 of the Law on Parliamentary Elections contradicted several articles of the Constitution. Specifically, the Court found that allowing members of parliament (MPs) to distribute their work reports or meet with voters before the nomination period without these actions being classified as election campaigning violated constitutional guarantees of equality before the law and the non-discrimination clause based on one’s position. These privileges gave sitting MPs an unfair advantage over other potential candidates, breaching Subsections 1.2, 14.1, 16.2, and 16.9 of the Constitution, which uphold equality, non-discrimination, and fair electoral rights.
In response, the newly drafted amendments propose to repeal Subsection 41.9 entirely and revise Subsection 44.6 to allow any person, not just sitting MPs, to organize public meetings to present their work or achievements before the official nomination process begins. This aims to level the playing field for all electoral participants.
Furthermore, the draft law reinforces the ban on distributing materials or items intended to influence voters during the campaign period. According to Subsection 48.1, this restriction applies from the start of an election year until the end of election day, and similarly from the official announcement of any by-elections or special elections. Notably, the working group clarified that while this ban applies to printed materials, it does not extend to digital or electronic reports, a distinction expected to prompt further discussion in future sessions.
The first discussion of the draft law concluded without any objections, and the draft was approved at this initial stage. Further readings and possible revisions are expected in the upcoming sessions of parliament.
Moreover, during a session discussing the conclusions of the Standing Committee, MPs engaged in a lively exchange of questions and opinions regarding a significant legal development: the submission of a proposal to the Constitutional Court to review whether a law passed by Parliament had violated the Constitution.
MPs B.Enkhbayar and D.Munkhbaatar commended the move as a historic precedent, noting that it marks the first time in the 33 years since Mongolia adopted its democratic Constitution that Parliament has formally requested a Constitutional Court review on the validity of a specific law. Both lawmakers praised this as a demonstration of parliamentary maturity and a commitment to constitutional accountability.
MP Kh.Temuujin also expressed strong support, emphasizing that the Constitutional Court has exclusive jurisdiction over such matters. He pointed out that ordinary courts lack the authority to summon parliament, request parliamentary records as evidence, or require the appointment of parliamentary representatives for court proceedings involving laws passed by the legislature.
Kh.Temuujin elaborated that according to Mongolia’s Constitution, only the Constitutional Court has the legal mandate to determine the constitutionality of laws and parliamentary decisions. “Parliament is the supreme organ of state power, and lawmaking is its exclusive right,” he said. “No regular court should exceed its authority by interfering with the legislative process.”
He emphasized that the growing trend of courts demanding parliamentary documents and decisions undermines the separation of powers and constitutional framework. The only way to address and correct this legal overreach, he noted, is through a direct proposal to the Constitutional Court for clarification and resolution.
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Mongolian banking sector's net external assets decreased by 46 pct at end of March www.xinhuanet.com

The Mongolian banking sector's net external assets decreased by 46 percent year-on-year to reach 5.3 trillion Mongolian tugriks (1.48 billion U.S. dollars), local media reported on Sunday, citing data from the National Statistics Office (NSO).
During the period, the net domestic assets of Mongolia's banks reached 36.2 trillion tugriks (10.16 billion dollars), which represents an increase of 31 percent compared to the same period of 2024.
Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 22.1 trillion tugriks (6.20 billion dollars) by the end of March 2025.
It is noted that the Mongolian tugrik savings experienced a substantial uptick, surging by 22 percent, while dollar savings exhibited a more modest increase of 10.4 percent.
Currently, there are about 1,500 branches of 11 commercial banks operating in Mongolia.

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