Mongolian Dance Teams Win Three Gold Medals at the World Championship Choreography Latin 2025 www.montsame.mn

Member of the Mongolian Dance Sport Federation "Royal Dance" team and the "Star Girls" team of the "Star Dance Club" of Mongolia won a total of three gold medals and two trophies at the World Dance Sport Federation (WDSF) World Championship Choreography Latin 2025 held in Braga, Portugal, from May 31 to June 1, 2025.
In the Championship, the Mongolian team “Royal Dance” competed in the youth and adult categories, earning two golden medals and two championship cups, while "Star Girls" competed in the youth category and won first place, winning the gold medal. The best teams from 18 countries danced off at the Championships in the junior, adult, and youth categories.
The "Royal Dance" team, consisting of 20 members and three teachers, was founded in 2019.

Russia Starts Buying Potatoes From Mongolia www.charter97.org

Faced with a shortage and a sharp rise in potato prices, Russia for the first time resorted to buying "second bread" in Mongolia. In April-May, more than 4 thousand tons of potatoes were imported to Buryatia from the neighboring country, according to the "Baikal-Daily". Director of the local branch of Rosselkhozcenter Namzhil Mardvaev noted that the news left a "depressing impression," since potatoes have been grown in Buryatia for more than 300 years, while in Mongolia they began to do so only in the 1960s, and most productively in the 2000s. "Mongolians have been transporting all the potatoes from us for centuries," Mardvaev stressed.
But now, he said, potato cultivation in the neighboring country is at a different level compared to Russia. At the same time, in addition to new modern equipment, Mongolia uses a lot of old Soviet machines, which were exported including from Buryatia at the price of scrap metal. "And these guys, who started growing potatoes yesterday, are now selling them to us. Indeed, God works in mysterious ways," concluded the director of the local Rosselkhozcenter.

Mongolia bans online gambling, betting and paid lotteries www.qazinform.com

How Dismantling the US Millennium Challenge Corporation Will Undermine Mongolia www.thediplomat.com

Shutting down development agencies such as the MCC will force Mongolia to rely more on Russia and China for funding.
While the United States has previously served as Mongolia’s “north star” guiding the country symbolically toward democracy, the future of U.S. support remains uncertain. The dismantlement of U.S. development agencies undermines Mongolia’s ability to strive for good governance, build durable infrastructure for Mongolians, and align itself with democratic partners. 
In the past seven years, U.S. assistance to Mongolia has remained fairly consistent, with approximately $13.25 million requested in the fiscal year 2025 foreign operations budget. One of the largest current direct U.S. investments into Mongolia is the five-year, $350 million Millennium Challenge Corporation (MCC) compact to provide clean, sustainable water infrastructure for Ulaanbaatar. But this too is on the verge of being cut in the midst of the Trump administration’s dismemberment of U.S. development aid. 
The MCC is an independent government agency established in 2004 under the Bush administration. The MCC provided targeted investments in developing countries through five-year “compacts” intended to promote economic growth, reduce poverty, and strengthen government institutions. Its model is based on local oversight and implementation, and all compacts are implemented with a team of local employees with just a few U.S.-based staff. The MCC has provided more than $17 billion in grants, and is one of the best-regarded U.S. development agencies in terms of its transparent finances and long-term effectiveness.  
The Mongolia Water Compact with the MCC was signed in 2018 and entered into force in March 2021. In addition to the $350 million grant provided by the U.S. government, the government of Mongolia promised to contribute up to $111.8 million to support the investment, one of the largest partner country contributions in the MCC’s history. All told, then, the project would invest a total of $461.8 million into Ulaanbaatar’s water supply. This is a critical, necessary investment in Mongolia’s infrastructure given that the capital city has nearly tripled in size in less than three decades and demand for water will likely exceed supply. 
The MCC compact intended to increase Ulaanbaatar’s water supply by 80 percent through three key investment activities: constructing new groundwater wells with an advanced water purification plant; wastewater recycling to increase the quantity of freshwater available for household consumption; and a focus on water sector sustainability via policy reforms, capacity building, and technical assistance. All of these steps will ultimately improve access to and the quality of Ulaanbaatar’s long-term water supply – if the contract is upheld. 
While there were initial concerns that the MCC would be dismantled alongside the U.S. Agency for International Development (USAID) in late January, it was originally allowed to continue its work, albeit under tense circumstances amid sharp cuts demanded by the Department of Government Efficiency (DOGE, which despite its name is not an official government department). During a meeting on April 19, however, MCC staff were told by DOGE staff members that all of the agency’s programs would be immediately terminated and staff numbers minimized. 
Amid the rapid closures, several programs were given extensions to wrap up in-country programming. The Mongolia Water Compact was allowed three months to end programming. However, this means that the compact would end in July 2025, well short of its intended end date in March 2026. According to the MCC’s website, nearly $215 million of the $350 million grant has already been spent.
Mongolian government officials at the Embassy of Mongolia in the United States said that “if the project is not completed by the U.S., the Mongolian government will not have enough funds to complete the project on their own and will need to seek out other partners.” 
Given the limitations and pressures on many donor governments – including Japan, South Korea, and the European Union – to cut back on development funding, the Mongolian officials implied that they would feel pressured to reach out to China or Russia for additional financial assistance to complete the project. 
Mongolia’s history with the MCC has not always been smooth. The first MCC compact, a five-year $285 million investment, was a mixed affair. It was signed between the U.S. and Mongolia in 2007, with a stated focus on reducing poverty and promoting sustainable growth through four projects. The largest of these projects was intended to be a $188 million rail project to upgrade Mongolia’s only north-south railway. 
However, according to Dr. Alicia Campi in her book “Mongolia’s Foreign Policy,” a lack of coordination with Russian officials on the board of the Ulaanbaatar Railway resulted in the veto of the rail project two years after the compact had been signed, leaving MCC staff scrambling to reorganize the contents of the compact. While the compact was ultimately completed within its five-year framework in 2013, with estimated benefits to over 2 million Mongolians over the course of 20 years (according to its Closed Compact Report), the intended impacts of advancing Mongolia-U.S. business ties and investments did not transpire in the way envisioned by the compact. 
Mongolia is already struggling to uphold its governance standards amid a series of public protests against ongoing corruption by government leadership, as covered by The Diplomat. According to an MCC employee covering the Water Compact, “Mongolia has not successfully passed the MCC’s corruption indicator for the past three years on the project.” Despite these governance failures, the MCC was committed to finalizing the project and Mongolia maintained an overall passing scorecard, allowing it to continue work on the compact. 
While the general Mongolian public is not familiar with the Millennium Challenge Corporation or its work, projects like the Water Compact have an indelible impact on the quality of life for Mongolians. By investing in the future of Ulaanbaatar, the city at the heart of Mongolia will increase its potential to expand and grow, creating greater opportunities for the entire country. Shutting down development agencies such as the MCC will instead undermine Mongolian relations with the U.S. as a whole, driving Mongolia closer to Russia and China if further “third neighbor” support fails to materialize. We’ve seen this in the case of Nepal, which also had a much-needed MCC compact scrapped amid the DOGE cuts.
However, Mongolian Embassy officials were surprisingly hopeful about the future of the Mongolia Water Compact, noting that they “were in talks with counterparts” at the U.S. Department of State to complete the compact, although U.S. Secretary of State Marco Rubio “has the last word.” 
In his own words during a recent Senate Appropriations Committee hearing on the fiscal year 26 Department of State budget request, Rubio testified that the Millennium Challenge grant is “outside my direct control of purview…and there will be efforts at reform…and potentially even expansion in one of them, although that won’t be my decision solely.” 
There are some reassuring developments. As of this writing, the MCC website continues to be functional with all content present, unlike USAID’s website, and a procurement notice for a reclaimed wastewater consultant for MCC’s Mongolia Water Compact was released on May 16 – although that too could be terminated at any moment. Given the intense back and forth on development aid under the Trump administration, any agency working in this space is at risk, and Mongolia is certainly not the only country to be cut off from promised U.S. investments.
By Monica Weller

Orbminco Advances Bronze Fox Project in Kincora Copper Project in Mongolia www.discoveryalert.com.au

Orbminco Limited (ASX: OB1) has launched the second phase of its 2025 field program at the Bronze Fox Copper-Gold Project in Mongolia's Southern Gobi region, marking a significant step toward a planned drilling campaign later this year.
The company has commenced Induced Polarisation (IP) and Ground Gravity surveys that will directly inform drilling targets at two key prospects within the 175 km² project area. This technical groundwork positions Orbminco as the last remaining independent foreign-listed explorer with interests in a major copper-gold project in Mongolia's increasingly competitive Southern Gobi region.
"The team is very excited to follow up on the mapping and geological results with drilling at a time when Mongolian Projects especially in the Southern Gobi Copper-Gold Belt receive unprecedented attention due to the globally perceived future Copper supply constraints and related corporate activities," said Managing Director Ralf Kriege.
Strategic Position in World-Class Copper Province
The Bronze Fox Project sits in what has emerged as a world-class copper-gold province alongside tier-one operations including:
Project Operator Status
Oyu Tolgoi Rio Tinto/Mongolian Government Operating mine set to become one of world's largest copper producers
Tsagaan Suvarga MAK Advanced copper-molybdenum deposit
Kharmagtai Xanadu Mines Copper-gold deposit (currently under ~A$170M takeover offer)
This copper-rich region has attracted significant M&A interest, evidenced by the recent ~A$170 million takeover offer for Xanadu Mines by a private consortium. With established mining operations and growing corporate interest, Orbminco's position as the last independent foreign-listed explorer with a major copper-gold footprint in the region could prove increasingly valuable.
The Bronze Fox Project covers approximately 175 km² and hosts a large, advanced copper-gold system. A maiden JORC Mineral Resource and an Exploration Target have already been defined at Bronze Fox focused on a small margin of one of three shallow, large and underexplored intrusive complexes, highlighting the project's potential scale.
Two High-Priority Targets Advancing Toward Drilling
The geophysical program is focused on two promising target areas:
West Kasulu Prospect
Recent sampling has confirmed a high-grade copper-gold extension structure that remains open and trends northwest beneath shallow cover. This trend remains largely undrilled and presents a compelling target for follow-up drilling.
Shuteen North Prospect
Located 10km southwest of West Kasulu, this area features extensive sub-cropping copper mineralisation and multiple intrusive systems associated with strong mineral alteration. Despite its promising surface indicators, this target remains undrilled.
Both targets show characteristics consistent with the upper portions of porphyry systems, a geological setting known for hosting large-scale copper-gold deposits worldwide.
Understanding Geophysical Surveys in Copper Exploration
What is Induced Polarization (IP) Surveying?
IP surveying is a geophysical technique that measures how rocks and minerals in the ground store and release electrical charge. When applied to mineral exploration, IP surveys are particularly effective at identifying disseminated sulphide minerals commonly associated with copper porphyry deposits.
For investors, IP survey results provide critical subsurface information without the expense of drilling. The technique allows exploration companies to detect potential mineralisation zones beneath the surface, significantly improving the targeting of subsequent drill programs and increasing the probability of exploration success.
Ground Gravity Surveys
The gravity survey component will complement the IP data by mapping density contrasts in the subsurface that could represent different rock types or structural boundaries potentially related to mineralised fluid conduits.
These combined survey techniques create a more comprehensive picture of subsurface features that may host copper-gold mineralisation, helping Orbminco refine its drilling targets for maximum effectiveness.
The Importance of Porphyry Copper Deposits
Porphyry copper deposits represent some of the world's largest copper resources and are responsible for approximately 60% of global copper production. These deposits typically form when copper-rich fluids ascend from cooling magma bodies and deposit minerals in the surrounding rock.
Key characteristics of porphyry copper systems include:
Large size: Often containing hundreds of millions to billions of tonnes of mineralised material
Low to moderate grades: Typically 0.3-1.0% copper, often with gold and molybdenum credits
Amenable to bulk mining: Their large size and relatively consistent grade distribution make them suitable for large-scale, low-cost mining operations
The Southern Gobi region of Mongolia has proven particularly prospective for these deposit types, with Oyu Tolgoi representing one of the world's largest undeveloped copper-gold projects.
Timeline and Next Steps
Orbminco has outlined a clear path forward:
Current Phase (Q2 2025): Complete IP and Gravity surveys at West Kasulu and Shuteen North
Next Phase (Q3 2025): Process and interpret geophysical data to finalise drill targets
Q3 2025: Commence diamond core drilling program
The company can earn an 80% interest in the Bronze Fox Project from Kincora Copper project in Mongolia by expenditure of US$4 million within 5 years and holds the right to acquire a 100% interest.
Investment Potential: Why Bronze Fox Matters
The Bronze Fox Project represents a compelling investment proposition for several reasons:
Strategic Location: Situated in a proven copper-gold province hosting world-class deposits
Established Potential: The project already hosts a maiden JORC Mineral Resource and an Exploration Target focused on just a small portion of one of three large intrusive complexes
Multiple Targets: Beyond the current focus areas, the project features multiple underexplored intrusive complexes
Corporate Appeal: As M&A activity increases in the region, Orbminco's position as the last independent foreign-listed explorer with major copper-gold assets becomes increasingly strategic
Copper Market Fundamentals: The global transition to clean energy technologies is driving copper demand to unprecedented levels, creating a favourable market environment for copper exploration
Copper Market Outlook
Copper plays a crucial role in the global transition to clean energy technologies. The metal's exceptional electrical conductivity makes it essential for renewable energy systems, electric vehicles, and energy storage solutions.
Current market forecasts suggest potential supply constraints in the coming years:
Growing Demand: The International Energy Agency projects copper demand for clean energy technologies could increase by up to 600% by 2040
Supply Challenges: New copper discoveries have declined despite increased exploration expenditure
Development Timeline: New copper projects typically take 7-10 years to progress from discovery to production
These market dynamics have increased interest in copper exploration projects in stable mining jurisdictions with established mineral potential, such as Mongolia's Southern Gobi region.
Why Investors Should Track Orbminco
Orbminco represents a unique opportunity to gain exposure to a highly prospective copper-gold project in a region attracting significant attention from major mining companies. With geophysical surveys underway and drilling planned for Q3 2025, the company is entering a potentially value-creating phase with multiple catalysts on the horizon.
The Bronze Fox Project's combination of established mineralisation, multiple untested targets, and strategic positioning in Mongolia's Southern Gobi copper belt offers substantial upside potential as the company advances its exploration program.
For investors looking for exposure to copper—a metal widely forecast to face supply constraints as electrification drives demand—Orbminco's focused exploration approach and clear development pathway merit close attention as the company moves toward its Q3 drilling campaign.
Ready to Position Your Portfolio in Mongolia's Premier Copper Belt?
Don't miss this opportunity to invest in one of the last independent copper-gold explorers in Mongolia's resource-rich Southern Gobi region. With geophysical surveys underway and drilling planned for Q3 2025, Orbminco is entering a potentially value-creating phase with multiple catalysts on the horizon. Visit Orbminco's website to learn more about their strategic Bronze Fox Project and how you can gain exposure to this compelling copper opportunity before the drilling results start to flow.

Mongolia solar energy Sector Growth: 1,000 MW by 2025 Success www.pvknowhow.com

Mongolia’s Solar Energy Sector Poised for Growth
Mongolia’s solar energy sector is poised for significant expansion, with plans to increase installed capacity to 1,000 MW by 2025. The country aims to enhance its renewable energy infrastructure to support its growing economy and reduce reliance on coal. With abundant solar resources, Mongolia is well-positioned to become a regional leader in sustainable energy production. For a deeper dive into Mongolia’s ambitions, visit Mongolia’s Ambitions to Rise in Solar Energy – pvknowhow.com.
Current Status of Mongolia Solar Energy Development
Mongolia’s solar energy sector has made notable progress in recent years, with the installed capacity reaching 250 MW as of 2022. The country has leveraged its abundant solar resources to develop a growing number of solar power plants, contributing to the diversification of its energy mix. The government has implemented various policies and incentives to attract investment in renewable energy projects, thereby facilitating the expansion of the solar sector. For more insights on Mongolia’s solar panel manufacturing, refer to Mongolia Solar Panel Manufacturing | Market Insights Report.
Future Prospects for Mongolia Solar Energy: 1,000 MW by 2025
The future of Mongolia’s solar energy sector appears promising, with ambitious plans to increase the installed capacity to 1,000 MW by 2025. This expansion is part of the government’s broader strategy to enhance energy security, reduce greenhouse gas emissions, and promote sustainable development. By achieving this target, Mongolia aims to further diversify its energy mix and reduce its reliance on coal-fired power, thereby contributing to global efforts to combat climate change. For related developments, check out Inner Mongolia Energy Group Unveils 1.6 GW Solar farm – pvknowhow.com.
Mongolia Solar Energy Investment Opportunities and Key Challenges
The growth of Mongolia’s solar energy sector presents significant investment opportunities for both domestic and international investors. The government has introduced various incentives, including tax breaks and feed-in tariffs, to attract investment in renewable energy projects. However, the sector also faces several challenges, including the need for improved grid infrastructure, regulatory uncertainties, and the high initial costs associated with solar energy projects. Addressing these challenges will be crucial to realizing the full potential of Mongolia’s solar energy sector. Explore further advancements in Mongolia’s renewable energy exports at Mongolia renewable energy exports: 5 Extraordinary Projects – pvknowhow.com.
Conclusion: The Road Ahead for Mongolia Solar Energy
Mongolia’s solar energy sector is on the cusp of significant growth, with plans to increase installed capacity to 1,000 MW by 2025. The country’s abundant solar resources, combined with supportive government policies, provide a strong foundation for the continued expansion of the sector. However, addressing the challenges of grid infrastructure, regulatory frameworks, and financing will be essential to achieving these ambitious targets and ensuring the long-term sustainability of Mongolia’s solar energy industry.

AmCham Leadership in Shaping Mongolia’s Investment Climate: Ambassador’s Remarks www.mn.usembassy.gov

Remarks of Ambassador Richard L. Buangan
to the American Chamber of Commerce in Mongolia
May Monthly Meeting
Thursday, May 29, 2025
Blue Sky Hotel, Ulaanbaatar
AmCham Leadership in Shaping Mongolia’s Investment Climate
(As Prepared)
Thank you for inviting me today to address you all again.  Last time I was with you was right after the U.S. Presidential election – at your Annual General Meeting – when I briefly spoke about the need for continuing our strong U.S. Embassy-AmCham partnership that effectively advocates pro-business initiatives to parliament and government.  Earlier in 2024, you invited me to speak about Mongolia’s energy transformation and how AmCham can take the lead to ensure it is private-sector driven.  Our partnership continues to be mutually beneficial.
The U.S. Embassy wants to see more American investment and trade in Mongolia, and we commend AmCham for their continued dedication to strengthening the economic and business ties between the United States and Mongolia.  Both of us also want to ensure Mongolian companies have easier access to the U.S. market. That’s why I was pleased to participate in your Washington DC Doorknock.
And I want to thank you all for your partnership and for your voice.  It has been your voice that has set you apart from other chambers and business interest groups.  You all have spoken out against travel bans, detainment, expropriation, and against a broken dispute resolution system; at the same time you all have spoken out for the rule of law, due process, and transparency and consultation when laws and regulations are passed and implemented. Your affective and assertive voice brings issues to the forefront.  Even when your messages cause great discomfort and irritation in Ulaanbaatar’s corridors of power.
Your decision to not just advocate but take the lead in vocalizing private sector positions has earned you broad respect and a seat at the table when government and parliament debated important decisions affecting Mongolia’s long-term economic and commercial health.
The Mongolian business community has never needed your intellectual leadership and moral courage more than now. That is what I wanted to focus my message on today: why AmCham needs to continue to play a leadership role in shaping the solutions to the challenges of Mongolia’s investment climate.
Mongolia faces many challenges – many of which come just by being a true democracy:  an unwieldy, highly factionalized political system struggling to reconcile multiple, conflicting demands on state resources; geopolitical tensions among Mongolia’s primary trading partners; and realignment and rebalancing of the global trading order.  This is where it has been helpful to have a private sector partner willing and able to speak truth to power.
Turning to the investment climate, I think we can agree that government and parliamentary actions have a direct impact on the private sector, for good or for bad. That is why I strongly believe Mongolia’s economic growth needs to be private-sector led.  None of these government actions can be realized without strong private-sector input. And, to get that support, there needs to be a legal, regulatory and investment framework which attracts serious, responsible domestic and foreign private sector investment.  Unfortunately, we are hearing from many of you that this framework is not attractive at the moment.  Mongolia keeps sinking in the business attractiveness rankings of countries at the critical time it needs to be rising. And when dark clouds start to form in Mongolia’s investment climate, that’s when AmCham and the U.S. Embassy need to work together to sound the alarm and offer solutions.
I wanted to take a moment to preview for you our soon-to-be published 2025 Mongolia Investment Climate Statement.
American investors have told us that from a distance Mongolia’s market is tempting.  From afar it offers opportunities in mining, agriculture, and an accessible, sophisticated, and lucrative Ulaanbaatar market for products and services. And let’s not forget tourism.  United Airlines just started operating flights here, becoming the first U.S. carrier to operate regularly scheduled, commercial flights to Mongolia. Add to that Mongolia’s geographic location makes it well positioned to serve as a passenger and cargo gateway to Central Asia.
An enticing narrative for investors.
But this story often fails to spur decisive action, once investors take a closer look.
That closer look reveals substantial and unpredictable regulatory burdens at every level, where officials across ministries and agencies seem to routinely and arbitrarily contravene existing laws.  Long delays in resolving disputes and in enforcing decisions – often hidden behind a veil of secrecy – only increase the barriers for both domestic and foreign investors.
Investors are particularly concerned about a tax process that effectively allows officials to issue excessive, confiscatory, and again arbitrary tax assessments to coerce settlements.
The perception that the government favors its own state-owned entities over private sector companies discourages existing investors from expanding, and new investors from coming.
Finally, there is the 2024 package of laws aimed at reestablishing Mongolia’s sovereign wealth funds by the state taking no less than 34 percent of strategic mining assets without compensation.
The foreign and domestic business community, most notably AmCham, has expressed concerns that the government, having opened the door for expropriation in one arena, may do so for others. The business community has conveyed these concerns to government and legislative leaders, asking for reconsideration of the expropriatory aspects of these laws.  And I might add that the U.S. Embassy too has raised these concerns at the highest levels of the Mongolian government.
We are watching very closely a solution that is working its way through parliament, which would in principle take expropriation off the table for strategic deposits. We urge the government, parliament, and the business community to reach agreement expeditiously, because failure to meet this moment could render Mongolia effectively un-investable, crippling not only private business but an ambitious government development program requiring revenue and finance from both private domestic and foreign sources.
So, what can the United States government do to help support what you and the business community are doing to bring about these changes?
President Trump and the Administration’s America First Policy offers a way forward to address these serious, perennial challenges.
Thanks to clear and unambiguous pro-business messages coming from the highest levels of this Administration there is a better sense of where Mongolia and the United States align, which could, for example, be in areas involving reform of investment policies and energy generation.
Mongolia, as I noted, needs to continue to pay attention to the regulatory and statutory framework affecting private sector activities.  The current system doesn’t do enough to reassure investors.
The Administration, at the same time, sees energy generation as a clear path to national energy independence, security, and prosperity for our partners, while offering opportunities to U.S. commercial interests.  As Treasury Secretary Bessent said during the recent World Bank and IMF meetings, “Energy abundance sparks economic abundance,” calling for “all-of-the-above approach” that includes both fossil fuels and renewables where feasible.
Mongolia, if it is to implement its megaprojects, needs base-load power, be that from fossil fuels, renewables, or nuclear energy; and homegrown supply, with U.S. support, can free Mongolia from dependency and doubt, offering prosperity to U.S. and Mongolian businesses alike.
While these ideas are no panacea for what ails Mongolia, it does offer a clarity of purpose for those seeking to understand how a safer, stronger, and more prosperous America can at the same time make a safer, stronger, and more prosperous Mongolia.
America First doesn’t mean America Only.  This relationship can and must be a relationship of mutual benefit.  And here, I would be clear-eyed about the possibilities of mutual benefit, because this is a pragmatic approach that can favor both sides.  The first step, obviously, is to secure investor confidence.  Let me repeat that:  The first step is to secure investor confidence.
AmCham’s 2025 U.S. Doorknock offered a firsthand experience for our business delegation of what’s going on in Washington.  Amid policy continuing to be fine-tuned – and more senior positions being filled, we met with decision makers and painted a realistic picture of the investment climate here in Mongolia, both its challenges and opportunities.
Thanks to the relationships formed during the Doorknock, AmCham is in a better position to explain to Mongolia-based decision makers and market movers what Washington expects of the U.S.-Mongolia commercial relationship.  The Trump Administration will vigorously protect U.S. commercial and economic interests and will ensure that our trade relationships with the world are reset through trade deals and pro-growth tariffs.  The U.S. Embassy will not hesitate to call out actions that harm the interests of the business community here in Mongolia. That means we will do more to advocate for a better investment climate through our partners like AmCham.  That makes your voice value-added.
AmCham must carry the baton for the business community—to be that stronger bridge between America and Mongolia, a role for which it is eminently suited.  AmCham, which has a seat at the table and the respect of stakeholders, is the right organization, with the right people, in the right place, at the right time.
As we start to talk about what happens next, now the real work begins. As the Mongolian government starts to possibly – perhaps – form again, this is an opportunity to channel your powerful voice.  You can take advantage of current events to again demonstrate that AmCham is an honest, authoritative advocate for the business community, not just for one industry or problem set, but everything that affects the business community and the path to private-sector led economic growth, which must always be our guiding star.  The U.S. Embassy will always stand alongside you as your partner.
Thank you.

Indian army contingent departs for India-Mongolia joint military exercise nomadic elephant www.pib.gov.in

The Indian Army contingent departed today, for 17th edition of India- Mongolia Joint Military Exercise NOMADIC ELEPHANT. The exercise is scheduled to be conducted in Ulaanbaatar, Mongolia from 31st May to 13th June 2025. Exercise NOMADIC ELEPHANT is an annual event conducted alternatively in India and Mongolia. Last edition of the same exercise was conducted at Umroi, Meghalaya in July 2024.
The Indian contingent comprising 45 personnel will be represented mainly by troops from a battalion of the ARUNACHAL SCOUTS.  The Mongolian Armed Forces contingent, also comprising similar strength, will be represented by 150 Special Forces unit.
Aim of the exercise is to enhance interoperability between the two forces while employing joint task force in semi conventional operations in semi urban/ mountainous terrain under United Nations mandate.
The scope of this exercise involves Platoon level Field Training Exercise. During the exercise, Indian and Mongolian troops will engage in various training activities to include endurance training, reflex shooting, room intervention, small team tactics and rock craft training, among others. In addition, to enhance complexity of exercise, aspects pertaining to Cyber Warfare are also being incorporated in this edition of the exercise. Soldiers from both sides will also learn from each other’s operational experience.
The exercise underscores the shared commitment of India and Mongolia towards regional security, peace and stability. Exercise NOMADIC ELEPHANT reinforces the India-Mongolia relationship as a cornerstone of regional cooperation, fostering strong military ties and promotion of cultural understanding.
A testament to the enduring bond of friendship, trust and cultural linkages between India and Mongolia, the exercise sets the stage for meaningful professional engagement, highlighting the unwavering commitment of both nations to broader defence cooperation.

Deputy Foreign Ministers of Mongolia, Russia, and the PRC Hold Trilateral Meeting www.montsame.mn

The 6th Deputy Foreign Ministers' Meeting of Mongolia, the Russian Federation, and the People’s Republic of China took place in Beijing, the People’s Republic of China, on May 29, 2025.
This is the first such meeting since 2019. The three parties reviewed the current state of trilateral cooperation, discussed in detail ways to further expand it, and, in this context, emphasized accelerating projects under the Mongolia–Russia–China Economic Corridor Program. They also exchanged views on organizing a high-level trilateral meeting.
State Secretary of the Ministry of Foreign Affairs of Mongolia Munkhtushig Lhanaajav, Deputy Minister of Foreign Affairs of the Russian Federation Andrey Yurevich Rudenko, and Assistant Minister of Foreign Affairs of the People’s Republic of China Liu Bin participated in the Meeting.

Will citizens have to pay for social insurance deficit? www.ubpost.mn

You might think that the social insurance contributions deducted from our monthly salaries are being accumulated in the Pension Insurance Fund. If so, that is a major misconception. In reality, there is not a single tugrug left in the Pension Fund—it has been in the red and empty for many years. In other words, the Social Insurance Fund has been operating at a loss year after year and is now on the verge of complete collapse.
Three years ago, members of Parliament warned during a session that the deficit of the Social Insurance Fund could reach 16 trillion MNT by 2030, potentially leading to default within one or two years. As it stands, the deficit of the fund has already reached 4.7 trillion MNT over the past five years, according to the Minister of Labor, Family and Social Protection, L.Enkh-Amgalan.
The outdated pension insurance system is often blamed as the main “culprit” for this situation, with all the problems conveniently pinned on it. But in reality, successive political powers have exploited the Social Insurance Fund as a “cash cow” to gather votes during elections. While they may not have looted it in a literal sense, they have significantly contributed to its downfall—a fact that Minister L.Enkh-Amgalan himself acknowledges as he now seeks to “hold them accountable”.
He stated, “Our country is now facing a serious question: Will we even have a social insurance system, especially a pension fund, or not? Therefore, we are left with no choice but to implement major policy reforms. Previously, one worker’s social insurance contributions were used to pay the pensions of three retirees. Now, even the combined contributions of three workers are not enough to support a single retiree.”
This crisis stems from the distorted pension system and the laws and decisions made by politicians without proper analysis or calculation. For example, in 2022, a law was passed to retroactively calculate years of service and social insurance contributions. Based on this law, 608,000 people retroactively paid their pension insurance contributions for up to 11 years. However, the total revenue generated from these contributions amounted to only 38 billion MNT, as people mostly paid based on the minimum wage.
Out of those 608,000 individuals, over 300,000 are already receiving pensions. In other words, 38 billion MNT were added to the fund, but 1.5 trillion MNT have already been paid out in pensions to them. So what happens when the rest of them start drawing pensions? This is just one example of the populist promises and decisions made by those in power with no long-term vision. At the time, retroactively counting years of service seemed like a citizen-friendly decision, but in the long run, it has become a “dark” policy that is draining the Social Insurance Fund.
Pension fund expenditure increased by around 1 trillion MNT 
In addition to existing problems, criticism is mounting from professionals in the field that military personnel and law enforcement officers, who retire as early as age 40 or 45 after receiving 36 months’ worth of salary in one lump sum under preferential conditions, are placing enormous pressure on the Social Insurance Fund. They note that there is no other country like Mongolia where such young people are allowed to retire.
Moreover, another burden on the fund came from the regulation that followed a bill initiated by Member of Parliament B.Purevdorj, which amended the Law on Pensions and Benefits Provided from the Social Insurance Fund just before the elections. The regulation changed the basis for pension calculation from the average salary of the last seven years to the last five years. This allowed many, especially those in the private sector, to secure higher pensions by paying higher contributions during their final five working years. As a result, individuals who paid higher contributions for just five years are now receiving significantly larger pensions than those who paid steadily over 20 to 30 years—clearly an unfair situation.
Additionally, reducing the retirement age for herders is another populist political decision aimed at securing votes, which has also contributed to the current financial strain on the sub-funds of the Social Insurance Fund. Because of these few politically motivated decisions, the social insurance system has severely deteriorated, and it has become clear that the pension fund can no longer be financially sustained under the current system.
Therefore, officials now argue that major reforms are necessary. These include: returning to a seven to 10 year average salary calculation for pensions (instead of five years); stopping early retirement for military and law enforcement personnel; and setting an upper limit on the salary base used to calculate employer contributions.
The Social Insurance Fund is used to finance four main areas: pensions, benefits, unemployment insurance, and insurance for workplace accidents and occupational diseases. According to statistics from the General Department of Social Insurance, the fund’s revenue reached 5.5 trillion MNT by the end of 2024, an increase of 1.2 trillion compared to the same period the previous year. However, expenditures reached 5.4 trillion MNT—1.3 trillion more than in 2023.
The increase in expenditures was largely due to a 994.1 billion MNT increase in spending from the Pension Insurance Fund. Although the fund’s income and expenses seemed to balance in 2023 and 2024, even appearing profitable, analysts warn this does not reflect the deeper, long-standing issues. The deficit in the Pension Insurance Fund has continued to grow annually.
For example, last year the fund paid pensions to 509,500 individuals, totaling 4.6 trillion MNT—one trillion more than in 2023. In other words, the fund has only been able to continue providing pensions by receiving an annual subsidy from the government averaging 600 to 800 billion MNT. The Ministry of Labor, Family and Social Protection projects that the pension fund’s deficit could double or even triple this year.
No possibility to reduce social insurance contributions even by 1%
Social insurance and VAT have become the biggest burdens for small and medium-sized businesses, forcing many enterprises to shut down. Business owners especially criticize the fact that the social insurance premiums they pay on behalf of their employees have no impact on the actual pension those employees will receive. That is why employers continue to demand a reduction in social insurance contributions.
However, Minister L.Enkh-Amgalan continues to insist that “social insurance is a future pension savings scheme”. He recently stated, “Employees and employers together pay 20 percent in social insurance, four percent in health insurance, and 10 percent in personal income tax—a total of 34 to 35 percent deducted from wages. I understand this is a heavy burden. But it’s important to distinguish between the sub-funds of social insurance. For instance, even a one-percent reduction in contributions would result in a 261 billion MNT loss in revenue for the fund. A two-percent cut would mean a loss of 522 billion MNT.”
From this statement, it’s clear that any hope of reducing the social insurance contribution rate is off the table. The bill to reduce social insurance contributions, proposed by MP Ch.Lodoisambuu and others, has been put aside for now, with government officials stating that it’s not possible to consider such a measure at the moment.
In short, the burden of the failed insurance system from the past 35 years will continue to fall on active workers and taxpayers. While businesses are being crushed by taxes and shutting down, and the workforce is fleeing abroad, there are hardly any wealth creators left in the country. Despite the dire situation, officials continue to speak loftily about reforms, while in reality, little to nothing is being done.
What if authorities misuse remaining money again?
While the Pension Fund is facing a near-certain default, authorities are boasting that they’ve “earned the first return from investing the Social Insurance Fund’s surplus in bonds”. Under Government Resolution No. 14, 300 billion MNT from the fund’s idle surplus were invested in bonds last year. On May 19, the ministry reported that the first interest income—13.3 billion MNT—had been added to the fund.
Additionally, 700 billion MNT have been deposited into four commercial banks, earning annual interest rates of 14.2 to 15 percent. As a result, the fund’s assets are projected to increase by 105 billion MNT in 2025. In total, about 1 trillion MNT of the Social Insurance Fund’s idle surplus has been either invested in bonds or deposited in banks.
However, the public remains skeptical. People haven’t forgotten past financial disasters. Most notably, the government has still not recovered the 168 billion MNT deposited in the now-defunct Capital and Chinggis Khaan banks. The money has only been recovered in small portions, and the issue has now reached the courts and prosecutors. No one today can guarantee that this won’t happen again.
Nevertheless, the authorities are promoting themselves as if they’re growing the fund’s assets and acting like victorious heroes, which many see as tragic. Economists agree that the pension system, which has followed a distribution model since 1990, must now transition to a partially funded system. That would mean turning a portion of each individual’s contributions into actual personal savings under their name.
Internationally, pension systems often allow individuals to draw from multiple sources after retirement, making it possible to live a decent life instead of surviving from one loan to the next. For example, retirees might receive a basic pension, a bonus based on contributions made, and dividends from a private pension fund in which they’ve accumulated savings.
MP O.Tsogtgerel remarked, “In 2023, our energy sector ran a deficit of about 350 billion MNT. Yet the Pension Insurance Fund continues to silently drain more than twice that amount from the national budget. At this rate, five years from now, even the entire state operating budget won’t be enough to fund this system. Without pension reform, there is absolutely no way to reduce social insurance contributions.”