During its regular session on March 1, 2023, the Cabinet made the following decisions:

The Government of Mongolia will exercise its ownership right in Mongolian Oil Refinery plant through the Erdenes Mongol LLC.

The Cabinet made a decision to exercise its ownership right in Mongolian Oil Refinery plant through the Erdenes Mongol LLC. Accordingly, the Executive Director of Erdenes Mongol LLC was tasked to amend the company charter. Minister of Mining and Heavy Industry J. Ganbaatar was tasked to control over the construction process of oil refinery plant and crude oil pipelines in accordance with the policy of relevant ministry.

About 210 thousand tons of coal have been traded via Mongolian Stock Exchange

In order to organize the market trade of mining products in an open, transparent and fair manner, create favorable condition where the prices are set by exchanges, attract investors into mining sector through integrated export policy, openly disseminate the information on trading, agreements and deals to the international market, and improve the competitiveness of the mining products, the “Procedures on Open E-Trade of Coal for Export” was approved by the Resolution No. 466 of the Government of Mongolia in December 14, 2022.

Within the framework of this procedures, 210 thousand tons of coal of Energy Resources LLC and Erdenes Tavantolgoi LLC have been traded through five online auctions since January 12, 2023.

Based on the feedbacks and suggestions from the e-trade participants, the Cabinet amended the “Procedures on Open E-Trade of Coal for Export”, approved by the Resolution No. 466 of the Government of Mongolia. According to the amendment, coal terminal for the coal traded through e-trade is changed to “Container Terminal or Loading and Unloading area at Gantsmod border checkpoint” and security deposit rate is decreased from 10% to five percent.

S. Byambatsogt: In 2023, the Air Communication Agreement will be signed with another ten countries.

The Cabinet approved the draft Agreement on Air Communication of the Government of Mongolia with Qatar and Kuwait and decided to grant the signing right to the Minister of Road and Transport Development S. Byambatsogt. Goals to liberalize the air transport, increase the number of foreign flights, resume the domestic flights and make the Chinggis Khaan International Airport an international hub airport are included in the Action Plan and the “New Revival Policy” of the Government of Mongolia. Furthermore, the tourism is one of the main sectors for diversifying economy and increasing the income received in foreign currencies. The Government announced 2023-2025 as the “Years to Visit Mongolia”. To that extent, the Minister of Road and Transport Development has been striving for comfortable air transport, affordable tickets and sufficient number of flights. As of today, Mongolia has signed Air Communication Agreement with 39 countries and in 2023, it is expected to sign Agreement with another ten countries.

The Minister of Road and Transport Development said, “We are going to sign ‘Open Sky’ Air Communication Agreement with the USA and Australia in 2023. Other agreements with Greece, Hungary, and the United Kingdom will be finalized in the first half of this year. The establishment of the Air Communication Agreements will allow Mongolia to conduct flights to airline hubs without any restrictions.”