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

Parliament approves one-time forgiveness of pension-secured loan debts www.montsame.mn
Ulaanbaatar /MONTSAME/. Parliament backed a bill on one-time cancellation of pension-backed loan debts, which President Kh.Battulga announced in his New Year’s Eve broadcast.
Upon the recommendation issued by the National Security Council of Mongolia, the Government of Mongolia wrote a bill on the one-time forgiveness of pension debts. The law states that, to fund the approved repayment of pension loan debts, government securities will be issued by putting up the future benefits from the Salkhit silver and gold mine revenues as collateral.
The approved one-time cancellation of pension-secured loan debts is subject to outstanding pension loan balance of up to MNT 6 million and pensioners who hold debts more than MNT 6 million will pay off the remaining amount themselves.
There are reportedly around 194 thousand pensioners, who did not borrow money out of their state retirement fund savings and the government will distribute vouchers for the government bonds worth MNT 1 million to them. Bond vouchers will be issued starting May 1, 2021.
Pensioners who took out pension loans less than MNT 1 million are entitled to receive bond vouchers equal to the amount they have in their loan balance.
In the event of the death of the bond voucher recipients, their bond vouchers will be granted to their children. In case of death of pensioners, who took pension loan before December 31, 2019, their loan debts will be forgiven.
All senior citizens are entitled to pension-backed loan with 6-month term once a year, according to the law.
The bill was backed by 79.5 percent of 44 parliament members present, with 9 opposed votes.

‘New construction’ program to be implemented in 2021-2030 www.montsame.mn
Ulaanbaatar/MONTSAME/. Parliamentary Standing Committee on Economy organized a discussion to introduce a revised edition of ‘New construction’ mid-term target program.
Within the mid-term target program, it is planned to develop energy and infrastructure sectors and 20 objectives have been set for five fundamental directions: Ulaanbaatar and satellite cities, Urban planning, regional development and rural areas, Infrastructure development and Industrialization.
With great constructions to be carried out nationwide, the program aims to bring development of urban planning, energy, basic infrastructure and auto road network into the international standards, improve housing supply, provide citizens with jobs, make comprehensive solution of socioeconomic issues and ensure rights of the people to live in healthy and safe environment, said Chairman of National Development Agency B.Bayarsaikhan in his report.
The program’s implementation for 2021-2030 requires MNT66 trillion 968.9 billion, which will be funded with the state budget, foreign loan and assistance, public and private partnership, private investment, Development Bank of Mongolia and special fund of the government.
At the discussion, a member of Citizens’ Representative Khural of the capital (City Council) P.Bayarkhuu made a presentation lecture themed ‘Ulaanbaatar city development issues in the New Construction Program’, and State Secretary of the Ministry of Construction and Urban Development S.Magnaisuren provided a lecture ‘Development of rural areas in the New Construction Program’.
Aimed to ensure population to live in healthy and safe environment, the mid-term target program ‘New Construction’ was first adopted with the Parliament’s resolution No:36 in 2010. During the past 19 years since the program’s adoption, many works have been done, but there are still tasks that have been insufficiently realized, such as reduction of air pollution, increase of jobs and development of auto road network, energy sector and basic infrastructure.
Participants of the discussion touched that the program reflects numerous pressing issues including issues related traffic jam, connecting 21 aimags and border points with paved roads as well as housing program for ger area residents, but they were not realized actually; thus it must be on focus. They also advised that a newly developed program needs to be actual works, but not just a declaration.
Issues on Ulaanbaatar-Darkhan road extension construction discussed www.montsame.mn
Ulaanbaatar /MONTSAME/. Minister of Finance Ch.Khurelbaatar and Minister of Road and Transport Development B.Enkh-Amgalan met with Mr. Mookiah Thiruchelvam, Project Administration Unit Head of the Asian Development Bank’s Resident Mission in Mongolia.
The meeting touched on implementation of an extension and renovation works of 204.11 km auto road between Ulaanbaatar-Darkhan in scope of the Regional Road Development and Maintenance Project, causes of their delay and further measures to take to tackle the issue.
After informing that road construction work contracts for ‘Package-3’ and ‘Package-4’ were cancelled due to insufficient performance, Minister B.Emkh-Amgalan expressed his concern of no solution has been reached yet.
Asian Development Bank in Mongolia visited the road development sites several times and gave notices on potential damages and risk to be imposed by the delay and cancellation of service contracts. The ADB delegates pointed out that all activities and issues concerning the projects’ implementation carried out by ADB in Mongolia are directly managed by its Resident Mission in Ulaanbaatar, starting February 2020, which facilitates the process for quick solution. Until then, headquarters of ADB in Manila, the Philippines has been in charge of ADB Mongolia’s decision-making activities.
Thanks to the meeting, the sides agreed to intensify the construction works in accordance with the implementation plan and highlighted the importance of effective cooperation among all partners in the project, including Ministry of Road and Transport Development, investor of the project ADB, Indian consultancy in the project ICT, and other units, contractors within the project.

Inner Mongolia's GDP up 5.5 pct in 2019 www.xinhuanet.com
HOHHOT, Jan. 12 (Xinhua) -- China's Inner Mongolia Autonomous region achieved GDP growth of around 5.5 percent last year, up 0.2 percentage points compared with 2018.
The figure was released in a government work report delivered Sunday at the third Session of the 13th People's Congress of the autonomous region.
In 2019, the investment in fixed assets increased by more than 6 percent, while general public budget revenue rose by 10.9 percent.
According to the report, the per capita disposable income for the region's urban and rural residents grew about 6.5 percent and 10 percent, respectively.
In addition, the region created 263,000 urban jobs last year, with an urban registered unemployment rate of 3.7 percent.
In 2020, the GDP of Inner Mongolia is expected to reach 6 percent. The region will create over 220,000 urban jobs and the urban registered unemployment rate will stay within 4.5 percent.

India is in talks with Mongolia and Russia for importing coking coal: Pradhan www.economictimes.indiatimes.com
Kolkata: Union Minister Dharmendra Pradhan has said India is in talks with Mongolia and Russia for importing coking coal to reduce dependence on few countries for supplies of the commodity.
The minister said the Centre is looking to import coking coal, a raw material for making steel, at a reasonable price as the country has set a target to produce 300 million tonne of the metal by 2030-31.
"India has been importing coal from Australia, which is good, but high-quality coking coal is also available in Mongolia. We are looking to bring that coal at a reasonable price. We are in talks with the Mongolian government," Pradhan said at a programme here on Saturday evening.
In 2016, a delegation comprising senior officials of the Steel Ministry and state-run Steel Authority of India (SAIL) went to Mongolia's capital Ulaanbaatar for securing a deal with the east Asian country for importing of coking coal.
The initial plan was to bring the fuel through Chinese ports but it could not be materialised, sources said, adding that the Centre is trying to bring coal through Russia's Vostochny Port which is known for handling the commodity.
Pradhan, who holds the portfolios of Steel Ministry and Petroleum and Natural Gas, said, "We have also initiated talks on behalf of the Indian government with the Russian authorities and signed a memorandum of understanding for cooperation for undertaking coking coal ventures."
Around 85 per cent of the India's coking coal demand is met through imports.
"The talks are being taken forward by public sector companies in India, including Coal IndiaNSE 3.69 % and SAIL," the minister added.

IMF says Mongolia's debt forgiveness plan violates 2017 bailout deal www.reuters.com
ULAANBAATAR/WASHINGTON (Reuters) - A plan by the Mongolian government to repay 776 billion tugriks ($283 million) of debt held by its elderly citizens is not in line with the pledges it made in 2017 to secure a bailout deal from the International Monetary Fund, the IMF said on Friday.
President Khaltmaa Battulga, a populist businessman and former wrestler elected in 2017, said during his New Year address last week that the government would pay off all “pension-backed loans” this year.
He said the move is aimed at “relieving elderly people who dedicated their lives to the development and prosperity of Mongolia of their debt pressures.”
The president said the costs of the program would be covered by raising production at the Salkhit silver mine, which was seized by the state from private Chinese investors during a special military operation at the end of 2018.
The plan was approved by Mongolia’s parliament on Thursday. The central bank has already ordered commercial banks to stop issuing new pension loans from Jan. 1.
“The government’s proposal to cancel pension-backed loans is not consistent with the authorities’ goals under the IMF-supported program agreed in 2017,” said Geoff Gottlieb, the IMF’s mission chief in Ulaanbaatar, in a statement emailed to Reuters.
“It increases already high public debt by 2% of GDP to help one narrow part of the population, regardless of their financial need,” he said, adding that the off-budget spending by the central bank causes inflation, puts pressure on the exchange rate and also “raises concerns about governance and proper parliamentary oversight”.
Battulga’s office did not immediately respond to requests for comment on Friday.
Mongolia secured a $5.5 billion economic stabilization package from the IMF and other partners in 2017 in a bid to head off an economic crisis brought about by plummeting foreign investment, declining commodity export revenues and a collapse in its currency, the tugrik.
As part of the deal, the government agreed to cut spending and raise taxes in a bid to balance its books. It also pledged to implement fiscal reforms in order to maintain budget discipline, and to improve the way it regulates the banking and finance sector.
Reporting by Anand Tumurtogoo in Ulaanbaatar and Andrea Shalal in Washington; Writing by David Stanway in Shanghai; Editing by Kim Coghill

Mongolia creates Exporters' Day to boost exports www.xinhuanet.com
The Mongolian government has decided to designate the Saturday of the third week of December every year as the Day of Exporters, its press office said Thursday.
The move represents the government's efforts to support exporters, diversify exports and improve the quality of exports, it said.
Exporters' forums are expected to be held on the day to discuss pressing issues -- particularly in non-mining sectors, as the landlocked East Asian country's economy is largely dependent on export earnings from the mining sector.
Official data shows the mining industry now accounts for over 80 percent of Mongolia's total export.

Mongolia launches national population, housing census www.xinhuanet.com
Mongolia on Thursday launched the 2020 National Population and Housing Census, the country's National Statistics Office (NSO) said.
The NSO said that it is urging citizens to review their information and actively participate in the census.
The census will last for a week, and its final results will be announced in June, according to the NSO.
A national population and housing census is conducted in Mongolia every 10 years.

Preserving the political status quo in Mongolia www.eastasiaforum.org
Mongolia’s economy hummed through 2019 on the strength of brown coal exports, regaining some footing following the near-disaster state of government finances in 2017. Repayment of several sovereign bonds looms in coming years and coal and copper prices will have a major impact on Mongolia’s finances, as will the ability of political parties to resist the temptation to buy victory in the 2020 parliamentary election with populist presents.Mongolian President Khaltmaagiin Battulga attends an interview with Reuters at the State Great Khural (Parliament) in Ulaanbaatar, Mongolia, 31 May 2019 (Photo: Reuters/B Rentsendorj).
Some questions linger over the status of the giant Oyu Tolgoi copper project as the saviour of Mongolian finances. In November 2019 Mongolia’s parliament approved a resolution to improve the agreement with operator Rio Tinto. Constitutional amendments also passed in November include provisions that raise the status of ‘strategic deposit’ (potential or operating mines of significance to the nation) to a constitutional level and also specify that Mongolians must receive the majority of benefits from these projects. These largely symbolic amendments do not seem to imply any particular policies but they are now available to future political and populist games. Unexpected and ongoing technical and geological challenges at the Oyu Tolgoi site also spell further potential cost overruns that might strain the relationship between Rio Tinto as the operator of the mine and the government as an equity partner.
Mongolia’s most significant political news came at the end of 2019 as amendments to the Constitution were passed and ratified by President Khaltmaagiin Battulga. These amendments focus on a clarification of the balance of power between the Prime Minister and the President in a hybrid parliamentary-presidential system, but they await a final check by the Constitutional Court. The changes also set the stage for a parliamentary election in June 2020 — a test of the extent to which the landscape for political parties has been reduced to a duopoly, if that.
The changes to Mongolia’s 1992 Constitution were proposed in June and have been discussed somewhat vigorously since then with only a moderate number of blind alleys (a referendum, snap elections) and distractions. The main thrust of the amendments has been to clarify some of the hybrid features of the Mongolian Constitution, tilting it slightly more toward its parliamentarian elements over presidential ones. The Prime Minister, whose power rests on election by parliament, now appoints cabinet members rather than parliament voting on them. Only the Prime Minister and an additional four ministers may be sitting MPs. While the Prime Minister’s independence has been strengthened, parliament is also gaining more oversight powers over the budget and cabinet.
Parliament was also given the power to set up investigative committees, but the budget process was protected from individual MPs’ amendments. Since presidential support was required for these amendments, the apparent bargain between the Mongolian People’s Party-dominated cabinet and parliament and the Democratic Party-affiliated president has been that President Battulga may stand in the 2021 presidential election for what will now become a single six-year presidential term.
A number of the constitutional amendments will require further specification with new legislation. Among the most significant clarifications will be the powers of the General Judicial Council and the newly-created Judicial Disciplinary Committee. Some hope that these amendments will supersede legislation that was hastily passed in March 2019 that gave the National Security Council the power to appoint and suspend judges. It significantly weakened judicial independence at a time when endemic corruption is threatening the ability of the government to make forward-looking policy decisions.
Another amendment curtails civil liberties but is not set to take effect until 2028, raising the possibility of further revisions. This is a provision stating that the registration of political parties is conditional on showing a membership of at least 1 per cent of the electorate (more than 21,000 voters in 2019). Given the longstanding application of minimum electoral thresholds, it is unclear why Mongolians should not be allowed to form small political parties. This amendment reinforces the impression that many political and legislative decisions in 2019 were driven by a desire to preserve the political status quo.
In late December, the revised election law governing the June 2020 parliamentary election was passed. The election will follow the 1992 and 2008 examples in using plurality-at-large voting. As in previous elections, the main question will be whether voters’ frustration can find a constructive outlet in new parties or candidates, or whether legislation will have succeeded in advantaging the Mongolian People’s Party and what remains of the Democratic Party. This question will be important in judging the future fate of Mongolian democracy.
Julian Dierkes is Associate Professor at the University of British Columbia’s School of Public Policy and Global Affairs. He is one of the principal authors of the Mongolia Focus blog.
This article is part of an EAF special feature series on 2019 in review and the year ahead.
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Mongolia: The Amendment On Constitution Of Mongolia www.mondaq.com
New Constitution of Mongolia established a representative democracy after revolution from Socialist society to Democratic society which was adopted on January 13, 1992 and amended in 1999 and 2001. Under the last amendment on the Constitution, the new paragraphs are added on following articles of sovereignty, human rights and freedoms, structure of state including State Great Khural, Government, Judiciary, Municipal governing body, Constitutional court and amendments of Constitution are included it. This Constitution was approved to protect the better human rights than previous constitutions which had been adopted in 1924, 1940 and 1960.
The State Great Khural of Mongolia passed amendments on the Constitution on November 14, 2019. This amendment shall be effective starting from July 01, 2020 or after the State Great Khural (Parliamentary) election.
In brief, the amendments of the Constitution additionally introduced several new articles more than changed or modified previous articles as follows;
Sovereignty & the human rights and freedoms;
State Great Khural (Parliament)
Executive Branch;
Judiciary;
Local governance.
2. Amendments of Constitution
1. Main changes in the Sovereignty in the Chapter One
Article 6 (amended) 6.2 The land, except for the property owned by the citizens of Mongolia, subsoil, its wealth, forests, water resources, and wildlife shall be state public property.
2. Main changes in the Human rights and freedoms in the Chapter Two
Article 19 (new) 19.1 The political party that united by at least one percent of Mongolian citizen who are entitled to vote in the election shall be established in according with Article 16.101 of the Constitution and conduct national policy.
3. Main changes in the State Great Khural (Parliament) in the Chapter Three
Article 21 (amended) 21.4 The election procedure of the State Great Khural (Hereinafter "Parliament") shall be determined by law.
It is prohibited to approve and amend the Law of Mongolia on election within one year prior to the regular election of the Parliament.
Article 22 22.2 The Parliament may decide to dissolve itself by at least two-thirds of the members of the Parliament if at least two-thirds of its members consider that the Parliament is unable to carry out its mandate, or if the President in consent with the Speaker of the Parliament proposes to do so for the same reason hereinabove. (amended)
22.3 If the President is not able to discuss and decide the proposal for appointing the Prime Minister of Mongolia within forty-five days, after its submission to the Parliament in accordance with Article 39.8 of the Constitution or the resignation of the Prime Minister in accordance with Article 43.1 of the Constitution or within thirty days after resignation of the Prime Minister, the President shall decide to dissolve the Parliament.(new)
22.4 The Parliament shall announce the election within ten days after the above decision and the election shall be conducted within sixty days upon announcement. The Parliament shall retain its power until newly elected member is sworn. (new)
Article 25 (amended) 25.1.7 The Parliament entitle to approve state finance, loans, taxes, monetary policy, state economic and social development policies, operational programs of the Government was developed as national security policy, state budget and its report of performance
Article 26 (amended) 26.1 The President, Members of the Parliament, and the Government shall exercise the right to initiate legislation. The scope and limits of the right to initiate legislation shall be determined by law.
Article 27 27.6 Sessions of the Parliament and sittings of its Standing Committees shall be considered valid with the presence of a majority of its Members, and the issues shall be decided by a majority vote of the Members present in such sittings unless otherwise provided by the Constitution. (amended)
27.7 The Members of Parliament shall resolve issues by openly voting. A secret ballot shall be held if it's supported by a majority voting of the members of the Parliament or specified in the Constitution and other laws. (new)
4. Main changes in President in the Chapter Three
Article 30 (amended) 30.2 An indigenous citizen of Mongolia, who has attained the age of fifty years and has permanently resided in his / her motherland for at least five years, shall be elected as the President only once for a term of six years.
5. Main changes in Executive branch (Government) in the Chapter Three
Article 39 (amended) 39.1 The Government shall be comprised of the Prime Minister and Members of the Government. The Prime minister and up 4 members of the Government may hold concurrently position of member of the Parliament.
39.3 The Prime Minister of Mongolia shall, in concurrence with the President, submit drafted law on the structure and composition of the Government to the Parliament. If the Prime Minister is not able to reach a consensus on this issue with the President within a week, then Prime Minister shall submit it to the Parliament.
39.4 Government members shall be appointed, dismissed and resigned by Prime Minister upon introduced to Parliament and President. Government members shall swear to the Parliament.
Article 43 (amended) 43.1 In case of not less than a quarter of Members of the Parliament shall make a formal proposal to resign the Prime Minister, the Government shall discuss it in three days and decide it within ten days. Resolution of the Parliament related to resignation the Prime Minister shall be deemed to approve if a majority of the Members of the Parliament support the proposal.
43.2 The Government shall resign in its entirety, if the Prime Minister has resigned.
Article 44 (amended) 44.1 If the Prime Minister introduces a draft resolution to be entrusted to him on specific issues of the state budget and policy, the Parliament shall discuss it in three days and resolve it within ten days by a majority vote of the Members of the Parliament.
44.2 If the Parliament passed the resolution, it shall be deemed that the Parliament entrusted to the Prime minister and to support it. If the resolution is not adopted, the Prime Minister shall consider resigning and the new Prime Minister shall be appointed within thirty days.
6. Main changes in Judiciary system (Court) in the Chapter Three
Article 48 (amended) 48.1 The judicial system shall consist of the Supreme Court, the aimag and the capital city courts, soum (county) or inter-soum (inter-county), and district courts and the court may be established by circumferential principal. The specialized courts, such as criminal, civil and administrative by task types of the administration of justice, may be established. The activities and decisions of these specialized courts shall not but be under oversight by the Supreme Court.
Article 49 49.5 Five members of the Judicial General Council (hereinafter "Council") shall be selected from among the judges and openly nominate the other five members. They shall work once for four years and a Chairman of the Council shall be elected from among of the members of the Judicial General Council. Report on Council activities in connection with ensuring the independence of judge shall be presented to the Supreme Court. Organization of Council, operational regulation, the requirement for its 4 members and the rules of appointment shall be determined by law. (amended)
49.6 The Disciplinary Committee of the Court has the following duties such as suspending from the position of judge, dismissing a judge and imposing other disciplinary sanctions under the procedure and the grounds specified in the law and its power, organization, operational procedures, requirements for members and appointment procedure shall be adopted by law. (new)
7. Main changes in local governance system in the Chapter Four
Article 57 (amended) 57.2 The legal status of town with national and local rank in the administrative and territorial unit as well as own governance and organization of soum(village) shall be prescribed by law.
Article 59 (amended) 59.2 Local self-governing organs in aimag, capital city, soum and district shall be the Khural of Citizen Representatives (Local assembly) in their respective territory, the General Khural of Citizens (Local meeting) in bag and horoo.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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