Jul 9, 2025 50 min read Daily News Summaries

Mongolia News Summary for July 09, 2025

The following news articles are the opinions of their authors and publications. They are presented here as translations for informational purposes and do not necessarily represent the opinion of MongolBeat or its members.

Today's Stories

Politics

The Policy Agenda of the Government Led by G. Zandanshatar Was Presented

Published: 2025-07-08 | Translated from: itoim.mn

The "Mongolian Economic Forum 2025" began today. Being held for the 15th time, this year's forum will continue for two days under the slogan "Together for Tomorrow".

At the start of the forum, Prime Minister G. Zandanshatar was interviewed by international reporter Mike Valerio from CNN. During this, he presented the policy that his government will pursue. He said, "It is very important to diversify our economy. Although the leading products of Mongolia's economy are mining and rare earth elements, agriculture and renewable energy will be our government's next major goals. Our country is a nation of nomads. We will pursue policies to develop the tourism sector based on our nomadic culture and beautiful nature. Digital transformation to become a digital nation will be implemented across all government organizations. We will work together with Mongolian youth to implement technology-based businesses.

I also think that a stable political policy is very important for attracting investment. Our government will cooperate with and support the private sector. We have formed a working group for comprehensive tax reform. By autumn, our tax law will be submitted to the Parliament for discussion. Furthermore, through the Law on the Chamber of Commerce and Industry, we will transfer government permissions to the chamber to eliminate bureaucracy. We will update the investment law to protect investors and create a favorable and stable legal environment."

Back to Table of Contents

Legal Reform Needed to Ensure Implementation of Human Rights Resolutions

Published: 2025-07-08 | Translated from: gogo.mn

The draft resolution of the State Great Khural (Parliament) "On certain measures to be taken in connection with the discussion of the 24th report on the human rights and freedoms situation in Mongolia and the report of the member in charge of issues related to the prevention of torture" is currently under discussion.

Member of Parliament Kh. Baasanjargal asked:
What is the implementation rate of the human rights resolutions in previous years? Personally, I consider the implementation insufficient. How do you plan to ensure implementation in the future? I also think this year's report is unsatisfactory. What measures do you think should be taken after adopting a resolution?

Chairman of the National Human Rights Commission D. Sunchid replied:
Based on the assessment of previous resolutions, the implementation rate is 71% for the 19th and 20th resolutions, 62% for the 21st, 60% for the 22nd, and 51% for the 23rd, which is for the upcoming year.

There are several reasons for this. Some clauses requiring legal regulation have not been implemented. These include provisions such as the law on freedom of the press, the law on assemblies and demonstrations, and the establishment of units to investigate the crime of torture.

Secondly, the lack of coordination between government agencies leads to poor implementation. Thirdly, issues related to the budget often delay the funding needed for phased implementation, resulting in insufficient execution. Therefore, resolving these issues will lead to more effective implementation in the future.

The plenary session of the Parliament continues to discuss the following issues:

Draft law to amend the law on fiscal stability
Draft law to amend and revise the law on reducing traffic congestion in Ulaanbaatar and converting ger districts into apartment housing, along with related bills
Draft law to amend and revise the law on road traffic safety, along with related bills
Draft revised version of the law on public property and related bills and resolutions
Draft law to amend the law on state registration of property rights
Draft resolution "On certain measures to be taken in connection with the discussion of the 24th report on the human rights and freedoms situation in Mongolia and the report of the member in charge of issues related to the prevention of torture"
Draft resolution "On giving instructions to accelerate business process reengineering in public services"
Draft resolution "On certain measures to reduce loan interest rates"

Back to Table of Contents

The government has started gathering public opinions through the E-Mongolia system and the 11-11 center on what should be accomplished in the first 100 days

Published: 2025-07-08 | Translated from: isee.mn

The government has started collecting citizens' opinions on what should be prioritized and accomplished within the first 100 days, by using the E-Mongolia system and the 11-11 center. As soon as you log into the E-Mongolia system, a special window for submitting suggestions will open, enabling citizens to send in their proposals.

Additionally, the 11-11 center, which serves citizens and the public, is receiving opinions from citizens around the clock via phone, website, and Facebook chat.

Back to Table of Contents

The Budget Amendment Was Supported in Principle and Sent for Preparation for the First Reading

Published: 2025-07-08 | Translated from: isee.mn

The revision of the 2025 budget is being discussed today in the plenary session of the State Great Khural. Subsequently, during the vote conducted on whether to support it in principle, out of the 109 members present, 59 members supported it, meaning it passed with 54.1% approval. The remaining 46% voted against it.

As a result, the matter has been transferred to the Standing Committee on Budget for preparation for the first reading.

Back to Table of Contents

Position: Politicizing Pension Loans is Wrong

Published: 2025-07-08 | Translated from: news.mn

At the special session of the Monetary Policy Committee of the Bank of Mongolia, held on July 7, 2025, the cap placed on pension loans was lifted and the previous conditions were restored. Here we present the opinions of economists regarding the issue of pension loans for retirees.

Economist L.Oyun said: "I see that the Bank of Mongolia made this adjustment so that the elderly should have at least a small amount of cash at hand. Pensioners taking out loans on their pensions does not have a strong impact on inflation. Most importantly, not having any cash at all is a risk for seniors. That is why the pension loan was treated in the same way as consumer loans, and the debt-to-income ratio for pension loans was set at 50:50. When seniors use their pension payments as collateral to take out loans for a year or a year and a half, they end up with no money at all at hand. In that sense, the decision by the Bank of Mongolia is correct. Since most retirees spend their pension loans on consumption, it was a measure to help their economic situation rather than restrict it. However, seniors chose to have no money at all during the period they have taken the pension loan."

Economist J.Delgersaikhan said: "The Bank of Mongolia made its decision while considering possible risks to the economy. However, due to some political influence, this decision was reversed. As of the first quarter of this year, pension loans amounting to 1.8 trillion MNT had been issued. If these loans become risky, it could negatively impact the financial system. This situation is also detrimental to the living standards of retirees. There is a misconception that such a decision was made out of malice towards retirees. It is wrong to let external influences interfere with the operations of the Bank of Mongolia. The banking system could be at risk. The most important issue is: who is responsible for making seniors live in poverty? Why have seniors been forced to rely on pension loans to make ends meet? It makes no sense to politicize all these issues."

Back to Table of Contents

The Government has started collecting citizen proposals through Emongolia and the 11-11 center on what urgent actions it should prioritize

Published: 2025-07-08 | Translated from: gogo.mn

At Monday's special cabinet meeting, the draft executive order of the Prime Minister on some measures to be implemented within 100 days was introduced. Accordingly, Prime Minister G. Zandanshatar tasked that citizen proposals be collected for this order to incorporate into the 100-day action plan.

Proposals from the public are now being accepted through the EMongolia system and the 11-11 center. As soon as you log into the EMongolia system, a special window opens to immediately receive your suggestions. Meanwhile, the 11-11 center, which serves citizens and the public, will accept your proposals 24 hours a day via phone, email, website, and Facebook chat.

While serving as the Speaker of Parliament, Prime Minister G. Zandanshatar established fields such as D-parliament for public input on legislative drafts and D-petition for public petitions and complaints, thus introducing the practice of citizen participation. The Prime Minister aims to not limit citizen input to just the 100-day action plan, but to continue listening to citizens and reflecting societal needs in government activities by utilizing these experiences.

Back to Table of Contents

The Government will seek citizens' input on some tasks to be implemented in 100 days

Published: 2025-07-08 | Translated from: montsame.mn

An extraordinary meeting of the Government was held yesterday in Ulaanbaatar. One of the issues discussed during the meeting was the draft resolution regarding "Some works to be implemented by the Government of Mongolia within 100 days." The draft of the directive was presented at yesterday's meeting, and in its preparation, the suggestions of sector ministries, some professional representatives, researchers, and issues that need urgent implementation in each sector as proposed by the members of government were included. In addition, it was decided that for the implementation of some tasks, input will be sought from the public.

For example, the agenda includes eliminating overlapping functions at all levels and working with a streamlined structure, conducting negotiations on determining the share of stock with legal entities exploiting strategically significant mineral deposits and their derived deposits, strengthening the operations of primary cooperatives, establishing collective cooperatives together with herders’ cooperatives, and small- and medium-sized enterprises and service providers, as well as expediting the resolution of prominent corruption and official crimes in accordance with relevant legislation.

Prime Minister G. Zandanshatar has tasked that public feedback be collected on the directive of "Some works to be implemented by the Government within 100 days", and to ensure that the included tasks meet the needs and demands of society within this 100-day period.

Back to Table of Contents

Parliament Discusses Amendments to the Law on Fiscal Stability

Published: 2025-07-08 | Translated from: ikon.mn

The session of the State Great Khural (Parliament) has started. On today's agenda are amendments to the Law on Fiscal Stability, amendments and changes to the laws on reducing traffic congestion in Ulaanbaatar and converting ger districts to apartment housing, amendments and changes to the Law on Road Traffic Safety, and the Law on Public Property, with a total of 11 issues planned to be discussed.

The first item under discussion is granting government approval for issuing government guarantees on debt.

Back to Table of Contents

Economy

Mongolian Economic Forum Begins

Published: 2025-07-08 | Translated from: montsame.mn

The Mongolian Economic Forum 2025 has started today under the slogan “Together for Tomorrow.” This two-day forum has been held since 2010 with the goal of discussing and finding solutions to pressing issues related to Mongolia’s economic and social development. Each year, the forum is organized under a different slogan. In 2022 it was called "The Policy of New Revival," and last year it was organized as the “Regional Development—Mongolia’s Economic Forum,” where concepts like regional development, investment allocation, and budget efficiency were discussed.

This year, under the slogan “Together for Tomorrow,” topics such as urban planning, urban economy, attracting foreign investment, new opportunities and risks, critical minerals, and supply chains will be highlighted with presentations and discussions. Over three thousand participants, including foreign and domestic investors, entrepreneurs, and representatives of international organizations, are attending. The organizers emphasized that this event provides an opportunity to discuss ways to prevent economic recession, changes needed to participate in international trade, supporting investments, and protecting the interests of investors.

In his opening address, Prime Minister G. Zandanshatar presented the government's policies for investors and the private sector, provided detailed updates on the progress of investment and major development projects, and outlined the plans for the short- and medium-term, as well as the goal to become an energy-exporting country in the next five years.

He stated, “Our country aims to diversify its economy and double the GDP in the next 10 years. We rank within the top 10 countries globally for natural resources and 17th in land area. Mongolia is also rich in rare earth elements. In the future, we will support open, mutually beneficial, and trust-based investment, and implement sound mining policies. At the same time, we must be a country that welcomes and retains investors. When investors themselves call our country investor-friendly, a healthy business environment will be achieved. The new government will prioritize not only mining, but also agriculture, renewable energy, and tourism. Furthermore, we will implement a digital transition to provide prompt and transparent services to enterprises and citizens."

B. Anar, Director of the Investment Policy Department of the Ministry of Economy and Development, stated, "Our ministry is actively working to attract and protect investment, improve the business environment, and diversify the economy and exports. For example, foreign trade negotiations are underway with Japan and the Eurasian Economic Union to diversify the economy. In the Prime Minister’s speech, he emphasized that, moving forward, investments should involve public-private partnerships. There is a proposal to implement major mining and non-mining projects based on private investment. This signals the continuation of the current government policy. Within the government's 100-day action plan, it is set out to submit comprehensive laws to improve the business environment, especially investment conditions. These include laws on investment, public-private partnership, the chamber of commerce and industry, and green financing—all of which are being prepared and will have a positive impact on the business climate."

The Mongolian Economic Forum will continue tomorrow under the themes of "Sustainable Development and the New Economy," "The Digital Era, Artificial Intelligence, and Data Infrastructure," and "Renewable Energy Issues and Solutions."

Back to Table of Contents

TODAY: "Mongolian Economic Forum-2025" to Take Place

Published: 2025-07-08 | Translated from: montsame.mn

Overview of today's events:

At the invitation of the President of Mongolia, U. Khurelsukh, the Emperor of Japan, Naruhito, along with Empress Masako, are on a state visit to Mongolia from July 6 to 13.
The standing committees of the State Great Khural (Parliament) will meet in the State Palace.

9:00 AM: The "Mongolian Economic Forum-2025" will be held at the State Palace.

10:00 AM: The regular IV session of the Citizens' Representative Khural of Ulaanbaatar will be held at the Khangardi Palace in Yarmag.

11:00 AM: The "Deel Mongol-2025" festival will take place at Sukhbaatar Square.

11:00 AM: The National Construction Association of Mongolia will provide information to the press at the "National Information Center" of the "Century News" newspaper on the topic that Mongolian companies are now eligible to participate in the Selbe subcenter tender, with the tender now divided into 5 packages.

In the regions: - The "Closer to Nature" temporary exhibition is being held at the Arkhangai Museum until July 28.

Abroad: July 5-14: - The 57th International Chemistry Olympiad is taking place in the United Arab Emirates.

Follow @montsame.mn

Back to Table of Contents

The Economic Forum Will Yield Results If Investment Is Attracted To Postponed Projects

Published: 2025-07-08 | Translated from: news.mn

In alignment with Mongolia’s long-term development policy "Vision-2050", the medium-term targeted program "New Revival Policy", and the five-year fundamental direction for Mongolia’s development from 2021 to 2025, the "Action Program of the Government of Mongolia for 2024-2028" has been approved. This action program encompasses 620 goals within 16 sectors under four main policies: Regional Development, Human Development, Economic Policy, and Governance that respects Human Rights. Among these goals, a timely initiation of the long-awaited reform in the energy sector over the past 30 years, an increase in domestic energy production, industrialization, regional development, and the construction of new cities are meant to expand the economy via the implementation of the following 14 mega projects.

WHAT IS THE SIGNIFICANCE OF THE 14 MEGA PROJECTS TO BE IMPLEMENTED BY THE GOVERNMENT?

The 14 mega projects were assessed based on their economic and social impact and classified into four main categories: "Increasing Export Capacity", "Boosting Domestic Production", "Expanding Energy Supply", and "Improving Social Infrastructure".

With the implementation of projects aimed at increasing export capacity: - Export revenue is expected to double, - Transport costs will decrease by 50%, - A new Euro-Asia transit gateway will be created.

Projects to boost domestic production are anticipated to: - Establish a foundation for steel and metal production along with strategic products, - Meet 50-60% of domestic fuel needs, - Create opportunities for a new petrochemical sector and technological advancement.

Energy supply expansion projects are projected to: - Stabilize energy supply in mining regions, - Provide balancing capacity for the Central region’s unified grid, - Save $45-50 million in annual import payments and supply consumers with affordable clean energy.

About a month ago, L. Gantumur, the previous Deputy Prime Minister and Minister of Economy and Development, presented the status of the 14 mega projects in the Government’s action program. He highlighted that thanks to the prioritization and unified understanding achieved within the Joint Government, progress was made on special loan agreements for the Erdeneburen Hydropower Plant, advancing the cross-border railway construction connecting Gashuunsukhait-Gantsmod, ratifying an additional financing agreement for the Mongolian Oil Refinery, and signing the investment agreement for the Mongolian-French Uranium project.

In other words, among these 14 mega projects, five have started implementation: cross-border railway and freight transshipment terminals (especially the Gashuunsukhait-Gantsmod line), the oil refinery complex, the uranium project, the Erdeneburen Hydropower Plant, and the Blue Coal Plant, which is part of the Coal Chemical Complex. These are credited to the efforts of the Joint Government.

POSTPONED PROJECTS FROM THE 14 MEGA PROJECTS ANNOUNCED FOR IMPLEMENTATION BY THE GOVERNMENT

After the resignation of the Joint Government, there has been increased attention from domestic and foreign investors regarding the continuation of these 14 mega projects. The global market saw a 40% drop in coal prices, which significantly impacted the country's budget revenue. Thus, the new Government led by G. Zandanshatar announced it would categorize the previously planned 14 mega projects into three groups: those already being implemented, those to be continued, and those to be postponed, as stated by N. Uchral, the Minister of Economy and Development.

Specifically, the 14 mega projects were evaluated against 14 criteria and divided into four groups. The total funding required for the implementation of these projects amounts to 43.4 trillion MNT. Therefore, it was decided to continue with 4-5 projects, seek investments for five projects through public-private partnerships, and postpone five projects.

Projects already being implemented include: the cross-border railway, the oil refinery, the uranium project, and the Erdeneburen Hydropower Plant.

Five high-priority projects to be implemented are: - Tavantolgoi Power Plant - Copper Smelting Plant - Steel Complex - Gold Refinery - Coal Chemical Complex

Postponed projects include: - Renewable Energy and Distributed Sources - Kherlen-Toonot-Orkhon-Ongi Project - Egiin Gol Hydropower Plant - National Satellite - Ereentsav-West-Urt and Bichigt vertical axis railway lines

Mongolia’s economic structure is doubly dependent, as both export and budget revenues rely heavily on mining. If China’s demand for coal decreases, so does Mongolia’s revenue. The country’s main income source—coal—has seen a 39% decline in price, with projections of a 15-30% further decrease. Consequently, there is a need to revise the 2026 budget framework, and the 2025 revised budget is under discussion in Parliament. While the 2024 revenue was initially estimated at 33.5 trillion MNT, now it is calculated to be 3.3 trillion less, requiring a budget adjustment.

Amid such circumstances, the Economic Forum, organized in Mongolia since 2010, is being held again. If agreements for investment in mega projects targeted by the Government can be reached with domestic and foreign investors during this forum, it could yield truly significant results.

Back to Table of Contents

Expressing Intent to Further Expand Mining Cooperation

Published: 2025-07-08 | Translated from: montsame.mn

Minister of Industry and Mineral Resources, G. Damdinnayam, received the Ambassador of Canada to Mongolia, Sandra Shufani, yesterday. During the meeting, Minister G. Damdinnayam emphasized that the comprehensive partnership between Mongolia and Canada is based on shared values respecting democracy, human rights, and the rule of law. He noted that Canada is Mongolia’s third neighbor and one of the leading investors in the mining sector.

He pointed out that over 80 percent of all foreign investment made in Mongolia between 2015 and 2024 has been in the mining sector and highlighted the contribution and benefits of the "Oyu Tolgoi" project to Mongolia’s economic growth and business activity. He also mentioned the successful implementation of projects by the companies "Steppe Gold" and "Erdene Mongol," which are listed on the Toronto Stock Exchange.

Ambassador Sandra Shufani expressed her readiness to further expand and develop bilateral cooperation in the mining sector and said she supports the policies and measures implemented by the Government of Mongolia to create a favorable investment environment.

Minister G. Damdinnayam also emphasized that the Mongolian parliament and government will continue to work towards improving the legal environment for investment, protecting investors' interests in accordance with international standards, and establishing mechanisms to fairly, efficiently, and promptly resolve investment agreement disputes and potential conflicts.

Back to Table of Contents

Officials Will Be Held Accountable for Actions or Inactions that Harm Investors

Published: 2025-07-08 | Translated from: gogo.mn

From the Economic Forum 2025

Every year, the Economic Forum addresses the topic of investment. In his opening speech, Prime Minister G. Zandanshatar emphasized the importance of trust, stating, "We cannot invite foreign investors and then treat them harshly. Thank you to all of you who have invested in us with trust." He expressed his gratitude to all investors.

B. Anar, Head of the Investment Policy Department at the Ministry of Economic Development, presented the total foreign investment figures for the country.

The half-year data for this year are not yet finalized. As of the end of last year, a total of 4.2 billion USD in foreign direct investment was made into our country. Looking at the trend, it was 3.5, 3.9, and 4.2 billion dollars, showing a gradual increase year by year. However, the country's economic growth slowed down since last year.

The reason is that the prices of mining products dropped on the international market, and there was a budget revenue shortfall. The performance indicators for the transportation and trade sectors also worsened.

There is only a single, overly general statement about protecting the interests of investors. This clause has been expanded in the new law.

What is the investment outlook for the next three years?
Since we are heavily dependent on commodity prices, we need to diversify our raw materials. The Ministry of Economy aligns its macro policy in this direction. With the state budget revenue falling, the Government will begin by switching to an austerity regime and reduce expenditures by 30%. The budget is being revised. In the short and medium term, focus is being placed on increasing export income, especially from sectors other than mining.

Projects under public-private partnerships are being initiated to attract more private investment.

Has investment in non-mining sectors increased?
No significant increase was seen last year, and this is related to our foreign trade situation. We have only one Economic Partnership Agreement, and that is with Japan. There are limited opportunities for low-cost exports to our two neighboring countries and other nations. Recently, a temporary trade agreement was signed with the Eurasian Union.

This creates opportunities to export non-mining products to Kazakhstan, Russia, Belarus, Kyrgyzstan, and Armenia. Meat, wool, cashmere, and leather products are exempted from customs duties by up to 50%. Domestic companies can thus save on export costs. However, signing the agreement does not immediately show results, and the agreement needs to be brought to life through ongoing discussions about customs, standards, and phytosanitary regulations.

How will the Gold 3 campaign affect investment?
It will not directly affect the state budget, but it will have an important impact on the exchange rate of the national currency. Since private companies are responsible for extraction, they will receive the income.
What changes have been made to the Investment Law? When will the bill be discussed?
The current law contains only a single, overly general statement about protecting investors' interests. The new law expands on this issue. It clarifies how a special council and the government, ministries, local governments, and agencies should protect investor interests. It institutes more responsibility. If investors are harmed due to the actions or inactions of officials, those officials will be held accountable. This is the main amendment in the law.

The law also aims to attract proper investments and protect investors' interests. Since the previous Government completed the drafting of this bill, it can be submitted in the near future, although I am not sure exactly when the discussion will take place.

Who will monitor the implementation of the temporary agreement with the Eurasian Union? Will it be left without an owner, as was the case with the agreement with Japan?
With Eurasia, we concluded the agreement only for products we can offer. About 30 of these are meat products. We import diesel, fertilizers, and explosives at high prices. These will be imported duty-free. This is beneficial for trade. To bring this agreement to life, the Government has appointed special ministers.
Thank you for the information.

Back to Table of Contents

No Expenses from the Government for the Economic Forum

Published: 2025-07-08 | Translated from: news.mn

The "Mongolian Economic Forum-2025" will begin today at 09:00 in the State Palace. During the two-day economic forum, it will become clearer what policies the ministers, who were appointed a month ago, will pursue going forward. Today, the first presentation will be given on the topic of Mongolia's leading economic directions. This year, the forum will be held in Ulaanbaatar on July 8th and 9th, where discussions will take place on topics such as green energy, urban development, transportation, intensive agriculture, advanced technology, and artificial intelligence. Some citizens have criticized the forum, saying a large amount of money is spent with little benefit.

However, Deputy Prime Minister and Minister of Economic Development N. Uchral stated, "This year, we will organize the economic forum at a high level. Many guests and investors from abroad have been invited. More than 1,000 guests will participate. In terms of finances, costs have been saved due to an amended budget, and funding for the forum was raised openly in cooperation with the Mongolian Economic Forum NGO, private sector organizations, and domestic and international donor organizations. The government did not incur any expenses. Government employees are paying their own participation fees. No government spending has been used on venues, halls, or other expenses," he emphasized. This year, about 500 representatives from the government, 700 from the private sector, and 900 from NGOs have registered to participate in the conference. Mongolian citizens paid one million MNT and foreign participants paid USD 500 to attend.

The Mongolian Economic Forum, aimed at accelerating the development of Mongolia, has been organized every year since 2010. For example, in 2022, the forum was held under the theme of "The New Recovery Policy." Former Prime Minister L. Oyun-Erdene emphasized that the "New Recovery Policy" aimed to strengthen Mongolia's economic independence and autonomy based on active partnerships between the state, private sector, and investors. In 2023, it was organized under the theme "Sustainable Development through Political Culture and Ethics," discussing issues such as improving government transparency, accountability, ethical growth, and civil society participation. In 2024, the forum was named "Regional Development—Mongolian Economic Forum" and focused on regional development principles, allocation of investments, and budget efficiency.

Back to Table of Contents

TDB Signs Trade Finance Agreement with Bpifrance Bank of the Republic of France

Published: 2025-07-08 | Translated from: ikon.mn

Trade and Development Bank (TDB) of Mongolia, marking the 60th anniversary of diplomatic relations between Mongolia and the Republic of France, is organizing the Mongolia-France Business Forum in cooperation with Bpifrance bank of France under the patronage of the French Embassy to deepen the cooperation between the banking and financial institutions of the two countries. This forum, organized for TDB’s clients, coincides with a period of rapidly developing relations and expanding foreign trade between the two nations, as major projects are being implemented. It bears significant importance as it brings economic cooperation to a new level and acts as a bridge connecting business people of both countries.

In 2024, TDB began its cooperation with Bpifrance bank by signing a strategic partnership Memorandum of Understanding and during the France-Mongolia business forum, a trade finance agreement was also concluded to further expand collaboration.

As Mongolia’s oldest commercial bank, TDB provides trade finance services to the country’s leading enterprises in collaboration with about 300 foreign banks and financial institutions, offering fast and favorable conditions. TDB alone handles over 40% of the country’s international trade finance and foreign payments and 65% of total trade finance, further solidifying its leading position in the industry through this agreement signed with the development bank of France during the forum.

Together for Sustainable Development
Trade and Development Bank

Note: Media organizations (TV, radio, social media, and websites) are prohibited from using our information in any form, either in full or in part, and must cite the source (ikon.mn) if used with permission.

Back to Table of Contents

Maintaining a Tight Monetary Policy to Keep the Tugrik's Yield High

Published: 2025-07-08 | Translated from: gogo.mn

From the Economic Forum 2025

In the last 17 years, the national budget revenue has increased 20 times, reaching 30 trillion tugriks. Of Mongolia's GDP of 80 trillion tugriks, 70 trillion is held in bank assets.

These figures were presented to participants in the Economic Forum. D. Zorigt, Chairman of the Economic Development Council and former Minister of Mining, emphasized that government involvement in the economy is excessive.

He stated: "Although key economic indicators have grown in the past 20 years, we have neglected our systems. In recent years I have worked at a research institution. In Mongolia, 770,000 people work in government entities or companies related to the government, whereas only 550,000 people work in the private sector. This shows that the government sector is excessively large. The government should not lecture people on how to do business. The government and the private sector should each focus on their own tasks."

Some participants raised questions such as why the central bank continues a tight monetary policy, why the law to exempt ten billion dollars of investment from taxes for ten years has not been implemented, and when 130 state-owned companies would be made public.

B. Lkhagvasuren, President of Mongolbank, stated: "We are continuing a tight monetary policy to keep returns on the tugrik high. Inflation is at 8%. If inflation falls, loan interest rates will decrease. The average business loan interest rate is 16-17%, and consumer loan rates are 20%. Khaan Bank attracts external financing at a 9% rate, and when converting to tugrik for loans, base conditions result in higher loan rates."

Minister of Finance B. Javkhlan provided the following information to business operators: - Government bonds have been rolled over into the next decade. There will be no bond payments until 2027. Some bonds have already been paid off. Due to our country's credit rating downgrade, we have regressed by 12 years. This autumn, our credit rating will be re-assessed. While we may not be able to improve it, we aim to maintain the current level. Even though coal prices have decreased, there will be no halt to trading.

The Mineral Resource Usage Fee (AMNAT) is twofold—it is distributed both to local residents and to the general populace. This is not a tax, but a fee for mineral resource utilization. The fee is collected regardless of whether the company is profitable or not.

It is, therefore, up to each company to decide whether to conduct extraction or not. In the past ten years, 10% of AMNAT has been transferred to the Local Fund. As some citizens continue to oppose mining projects, the share will be raised to 20%. The remaining 80% is allocated to the National Wealth Fund, allowing the general population to benefit from mineral resources. It would be unfair if only the residents of Ömnögovi or Erdenet benefited.

Back to Table of Contents

B. Lkhagvajav: The Economic Forum is changing from a platform that only praised the Government

Published: 2025-07-08 | Translated from: gogo.mn

The Mongolian Economic Forum 2025 is continuing today at 09:00 in the State Palace.

During the event, economist B. Lkhagvajav expressed his opinion. He said, "The Economic Forum, which had become a platform for praising the Government, is changing from this year."

Back to Table of Contents

Are Commercial Bank Owners Profiteering through Their Non-Bank Financial Institutions?

Published: 2025-07-08 | Translated from: unuudur.mn

Commercial banks operating in Mongolia have long been criticized by the public for issuing high-interest loans that exploit consumers. However, due to financial necessity, Mongolians often have no other option but to accept such high interest rates. As a result, people seek loans not only from banks but also from non-bank financial institutions (NBFIs) and pawnshops, which charge even higher rates. In other words, many citizens live from one loan to the next, repaying one loan with another.

A report from the Financial Regulatory Commission noted, “At the end of 2023, the number of loan application users in Mongolia reached 1.6 million, and the total amount of loans issued by apps and NBFIs amounted to 3.7 trillion MNT. Loans issued by NBFIs to citizens comprised about 15% of the national budget.” Furthermore, as of 2023, over 70% of Mongolia’s adult population—about 1.6 million people—had taken loans from NBFIs. By April 2025, 573 non-bank and financial institutions operating in Mongolia had collectively issued loans to 2.3 million borrowers. Research indicates that 75% of these borrowers used digital services.

Today, there is widespread suspicion that commercial banks in Mongolia are violating the law and engaging in usurious practices. Even the Speaker of Parliament addressed this from the podium. Specifically, on April 10, Speaker D. Amarbayasgalan stated during a session, “Banks have established NBFIs alongside themselves. They obtain commercial-purpose loans from banks and reissue them as consumer loans through their NBFIs. In 2024, the amount of loans given by banks to NBFIs reached around 700 billion MNT. NBFIs take loans from banks at annual rates of 20-24% and reissue them with rates of 36-50%. They even lend to pawnshops at even higher rates for short periods. It is essential that Parliament addresses and resolves this issue. If Parliament starts implementing policies to cut or reduce consumer lending to citizens, banks and NBFIs take actions that aggravate the public. This issue must be monitored by the Bank of Mongolia, the Financial Regulatory Commission, and their supervisory councils.”

Parliament member Ts. Iderbat also weighed in, saying, “The Speaker announced from the podium that every commercial bank operates an NBFI, which in turn runs a pawnshop. This is a grave statement, and it raises suspicions over whether this profiteering is being orchestrated intentionally.”

Of course, the Speaker of Parliament is someone very close to current information. By making such statements from the podium, he is signaling the need to review the legal and regulatory environment for the banking sector.

According to Article 6 of the Banking Law, banks, with the approval of the Financial Regulatory Commission, may provide financial and investment advice, trust services, insurance brokering, underwriting, custodial, and factoring services. In Article 7.1, it states, "Banks are prohibited from engaging in any activities not specified in Articles 6.1 and 6.2.1-6.2.6, except for temporary possession or ownership of collateral assets for loan repayment, leasing, renting, or selling such assets for operating expense recovery."

However, it seems almost every bank now has its own NBFI, or at least a digital loan app. For example, Khaan Bank, which has the largest customer base and depositors nationwide, is utilized by nearly everyone in Mongolia. The significant shareholder of this bank is Ts. Baatarsaikhan and his wife D. Khulan, owners of Tavanbogd Holdings. Tavanbogd Holdings also operates an NBFI called Tavanbogd Finance. The chairperson of this NBFI, Ts. Oyuntsetseg, is listed as holding a 10% share in the holding's registry and is also a significant shareholder in Khaan Bank.

Similarly, "Ariig" Bank, originally founded by B. Erdenebat of "Erel" and now with Sh. Bayarsaikhan of "Nomin Holdings" as a significant shareholder, also has its own NBFI. Sh. Bayarsaikhan’s company, Ulaanbaatar Impex LLC, owns 78.84% of Ariig Bank. It is possible that, with the involvement of the Bank of Mongolia, Bayarsaikhan became a key shareholder of this commercial bank while B. Erdenebat was serving a prison sentence from the Khaan-Uul district criminal court. Sh. Bayarsaikhan also owns 100% of Nomin Holdings, under which operates the NBFI Nomin Unity.

The "TDB Securities" organization affiliated with Trade and Development Bank operates by offering loan guarantees and investing in short-term financial instruments, according to the Financial Regulatory Commission. TDB, which is invested in by D. Erdenebileg, and "Ulaanbaatar Capital," which is associated with the former "Ulaanbaatar City Bank," also provide advisory, trust, and factoring services as stated in the Commission's research.

It is evident that a number of significant shareholders of banks operate NBFIs through their affiliated companies. Despite a policy decision made by the Financial Regulatory Commission on March 20 of this year, which prohibited NBFIs from procuring loans from commercial banks, lowered the ratio of raising funds via securities and trust services to 30-60% of their own capital, and increased options for foreign financing, these measures have yet to be effectively implemented. Prior to these decisions, as indicated by the Speaker, it has been confirmed that NBFIs were profiting by taking loans from commercial banks at 20-24% and lending to citizens at 36-50%. In previous years, 77 NBFIs borrowed 622 billion MNT from commercial banks and circulated those funds, exploiting the public.

While commercial banks are slow to issue essential loans to citizens, through their NBFIs they rapidly provide loans for vehicles, electronics, cell phones, and the like—essentially facilitating profiteering and exploitation of the public.

Back to Table of Contents

Diplomacy

Japan's Emperor Visits Mongolia for the First Time, Marking a "New Chapter in History"

Published: 2025-07-08 | Translated from: isee.mn

His Majesty Emperor Naruhito of Japan and Empress Masako are currently on a state visit to Mongolia. Today, they will be received with grand honors at Sukhbaatar Square by President U.Khurelsukh of Mongolia.

The Emperor's visit is not just a part of regular diplomatic ties—it is a moment in which a previously dim page of history is now written in bold letters, and will remain a symbol of enduring friendship and trust between the peoples of the two countries. Emperor Naruhito is the 126th monarch in Japan's history, and this state visit marks the first time a Japanese emperor has officially set foot in Mongolia—a historic first. This visit opens a new page in the relations between the two countries and will be forever remembered as a golden chapter of 21st-century Mongolian-Japanese friendship at the pinnacle of diplomatic relations.

HIS MAJESTY EMPEROR NARUHITO AND EMPRESS MASAKO -

Emperor Naruhito of Japan was born on February 23, 1960, in Tokyo. He earned a Bachelor’s degree in History from Gakushuin University (1982), studied hydrology at Oxford University (1983), and has traveled to many countries acquiring education particularly focused on culture and history. In 1988, he returned to Japan and completed a Master's program at Gakushuin University.

His father, Emperor Akihito, the 125th Emperor of Japan, abdicated voluntarily on April 30, 2019, and Naruhito ascended the throne on May 1, starting Japan's “Reiwa” or “Beautiful Harmony” era. Empress Masako was born on December 9, 1963, in Tokyo. She graduated from Harvard University with a degree in Economics (1986), afterward working at Oxford University and in the Japanese Ministry of Foreign Affairs as a diplomat. The couple announced their engagement in 1993, and their daughter, Princess Aiko, was born in 2001. Today, the Princess works with the Japanese Red Cross Society.

JAPAN'S PER CAPITA GDP REACHES 33,000 USD -

According to Article 1 of the Japanese Constitution, which was newly adopted after World War II in 1946, "The Emperor shall be the symbol of the State and of the unity of the people." Japan occupies 377,926 square kilometers, spread over 6,848 islands. The population is 123.3 million (as of May 2025), 98.5% of whom are ethnically Japanese. The average life expectancy is 87 years for women and 81 for men, with seniors aged 65 and above making up 29.3% of the total population. The government aims to keep the population above 100 million.

Japan is a constitutional monarchy. The Emperor does not make state decisions and serves as a symbol of national unity. Japan's economy is among the world’s leaders, with a gross domestic product (GDP) of 4.2 trillion US dollars; per capita GDP is 33,960 US dollars, and the average monthly salary is 2,473 US dollars.

Back to Table of Contents

Expansion of Quarantine and Technical Cooperation for Cross-Border Movement of Animals, Plants, and Their Products

Published: 2025-07-08 | Translated from: montsame.mn

The Ministry of Food, Agriculture, and Light Industry of Mongolia and the General Administration of Customs of the People's Republic of China yesterday signed the "Memorandum of Understanding on Technical Cooperation for Quarantine in the Import and Export of Animals and Plants." The memorandum was signed by Ts. Bolorchuluun, Director of the Policy and Planning Department of the Ministry of Food, Agriculture, and Light Industry of Mongolia, and Yu Xiaodong, Head of the Plant Quarantine Division, Animal and Plant Quarantine Department, General Administration of Customs of China.

With the conclusion of this document, the two countries aim to expand quarantine and technical cooperation during the cross-border movement of livestock, animals, plants, and their products, as well as to prevent the outbreak of transboundary pests and infectious diseases. The parties will also collaborate to detect these threats, exchange information, and protect agricultural and forest production. Through these efforts, the two countries seek to facilitate and expand bilateral trade.

Back to Table of Contents

Meeting Held with Chinese Customs Leaders on Meat Export Issues

Published: 2025-07-08 | Translated from: isee.mn

The Ministry of Food, Agriculture and Light Industry of Mongolia, the General Customs Administration, and the leadership of the General Administration of Customs of China held their periodic meeting in Ulaanbaatar to discuss increasing trade in livestock, animal-based raw materials, and products. On the Mongolian side, State Secretary T. Jambaltsereg, Adviser to the Minister T. Munkhtur, and Director of Administration and Management of the General Customs Administration B. Khosbayar received the Chinese delegation, which was led by Zhang Baofeng, Head of the National Port Administration of China Customs.

During the meeting, the Mongolian side addressed issues such as increasing the types and quantities of meat and meat products exported to China, expanding channels to access third markets via Chinese territory, and increasing the number of border inspection points. To achieve these goals, both parties expressed interest in cooperating on monitoring, diagnosing, and training human resources to handle cross-border infectious animal diseases, as well as exchanging experts.

The Chinese customs representatives expressed their willingness to support efforts to facilitate quarantine services in every aspect to increase bilateral trade between the two countries. Specifically, they proposed that both sides jointly establish quarantine mechanisms in line with international standards. They also emphasized the need to exchange quarantine information, to introduce an integrated customs electronic service based on this information exchange, and to strengthen cooperation in combating customs violations, according to the Ministry of Food, Agriculture and Light Industry.

Back to Table of Contents

Official Welcome Ceremony for the Emperor and Empress of Japan

Published: 2025-07-08 | Translated from: montsame.mn

President of Mongolia U. Khurelsukh and his wife L. Bolortsetseg officially welcomed the Emperor of Japan, His Majesty Naruhito, and Her Majesty Empress Masako at Sukhbaatar Square. After the commander of the State Honor Guard delivered his address, the national anthems of both countries were played. The President of Mongolia, along with his wife and the distinguished guests, bowed in respect to the ceremonial white flag before the Emperor and Empress greeted the members of the State Honor Guard.

The welcome ceremony was attended by representatives of the Mongolian government, Mongolian citizens who have received the Japanese imperial decoration, and notable figures such as the 68th Yokozuna Asashoryu D. Dagvadorj, the 69th Yokozuna Hakuho M. Davaajargal, and the 70th Yokozuna Harumafuji D. Byambadorj.

After President U. Khurelsukh and Emperor Naruhito greeted the attending distinguished guests, they paid their respects at the statue of Chinggis Khaan. Emperor Naruhito also signed the guest book at the State Palace. During their visit, Emperor Naruhito and Empress Masako will attend the National Naadam Festival opening ceremony as guests of honor and visit the "Chinggis Khaan" National Museum, Gandantegchinlen Monastery, Hustai National Park, the Water Authority, the "Gachuurt" drinking water source, as well as the Mongol-Japanese hospital and educational institutions to learn about Mongolia’s history, culture, and traditions.

They will also meet with representatives of Japanese citizens residing in Mongolia and Mongolians connected with Japan. Mongolia and Japan established diplomatic relations in 1972 and have since strengthened their partnership—establishing a "Comprehensive Partnership" in 1997, a "Strategic Partnership" in 2010, and, since 2022, a "Special Strategic Partnership for Peace, Development, and Prosperity Centered on People."

Back to Table of Contents

President of Mongolia U. Khurelsukh Welcomes Emperor Naruhito and Empress Masako of Japan

Published: 2025-07-08 | Translated from: ikon.mn

At the invitation of President of Mongolia U. Khurelsukh, Their Majesties Emperor Naruhito and Empress Masako of Japan are making a state visit to Mongolia from July 6 to 13, 2025. This is the first state visit to Mongolia by Emperor Naruhito and Empress Masako.

During the visit, President U. Khurelsukh of Mongolia and Emperor Naruhito of Japan will hold an official meeting to discuss deepening friendly relations and the friendship between the peoples of the two countries.

Emperor Naruhito and Empress Masako will participate as honoured guests at the opening of the National Naadam Festival and other ceremonial events. The official welcoming ceremony for the distinguished guests is being held at the Central Square.

Back to Table of Contents

PHOTO: Japan's Emperor and Empress Officially Welcomed

Published: 2025-07-08 | Translated from: gogo.mn

At the invitation of President U. Khurelsukh, Japan’s Emperor Naruhito and Empress Masako are making a state visit to Mongolia from July 6 to 13, 2025.

The official welcoming ceremony took place at Sukhbaatar Square.

Following this, Emperor Naruhito will sign the "Guest of Honor Book" at the State Palace, and there will be a brief meeting between President U. Khurelsukh, his wife L. Bolortsetseg, Emperor Naruhito, and Empress Masako.

They will also attend the opening ceremony of the National Naadam Festival and watch the "soyolon" category horse races.

This is Emperor Naruhito’s second visit to Mongolia. Eighteen years ago, he visited Mongolia as a crown prince.

The main function of the Emperor in foreign relations is to foster the expansion and development of friendly relations between Japan and foreign countries, acting as a symbol of the nation. Such imperial visits are considered "symbolic diplomatic relations."

Back to Table of Contents

Infrastructure

Three Participants Meet the Requirements in the Selection of Private Partners for the TPP-5 Project

Published: 2025-07-08 | Translated from: gogo.mn

Within the framework of 24 mega projects to develop Ulaanbaatar city, a thermal power plant (TPP-5) with an installed capacity to produce 340 Gcal heat and 300 MW electricity will be built in the 20th subdistrict of Bayangol district. In this regard, the city government announced a preliminary selection of a private sector partner for a public-private partnership agreement to design, construct, operate, and transfer the TPP-5 project on May 26. Out of 8 domestic and foreign entities that formally expressed interest, 4 parties submitted their proposals.

The preliminary selection among these 4 participants was conducted in accordance with the Law on Public-Private Partnership, Procedures for selecting private partners and consultant services adopted by annex 2 of Government Resolution No. 210 of 2024, and related documentation.

As a result, the following three participants met the requirements and were shortlisted:

“Shunkhlai Holding” LLC
“Mitaim International” LLC
“China Western Power Industrial” LLC

The participants received the documents for the next round of selection today and are required to prepare and submit their project proposals within 30 days.

Source: Capital City Administration, Department of Information and Public Relations

Back to Table of Contents

T.Davaadalai: Approximately $920 million is required to construct the First Ring Road. 85% will be borrowed from a foreign EXIM bank.

Published: 2025-07-08 | Translated from: ikon.mn

At today's meeting of the Ulaanbaatar City Council, Deputy Mayor T. Davaadalai provided an update on the progress of public transportation and housing projects being implemented in the capital city. Here is a summary of the information presented.

The first phase of the Metro project tender has been completed. In the second phase, it is necessary to finalize international loans and agreements related to financing. Representatives from the Metro project's associated bank, JP Morgan; the UK's foreign export loan institution UKF; and France's export loan institution BPI have arrived in Ulaanbaatar to discuss first-phase investment agreements. The goal is to finalize investment issues in the fourth quarter of 2025 and announce the second-phase tender for the Metro project. The environmental assessment and the feasibility study have been completed.

The feasibility studies and environmental impact assessments for the 1st and 2nd tram lines have been approved. It is necessary to finalize the investment decisions by the fourth quarter of 2025.

The tender for the Tuul Expressway has successfully opened, and the complaint period ends this week. If there are no complaints, a contract will be signed with the selected organization, and construction will begin.

The feasibility study for the First Ring Road has been approved and recommendations have been received. The government has indicated that an investment of around $920 million is required. Of this, it is planned that 85% will be financed by long-term, highly concessionary loans from a foreign EXIM bank, secured with a government guarantee. This plan has been supported by the government and submitted to the Parliament. If the government guarantee is obtained, it is planned to announce an EPC+F (Engineering, Procurement, Construction + Financing) tender for the First Ring Road in August and to begin construction.

Contracts have been signed for batches 1 and 2 of the Selbe City project, and earthwork preparations have begun. Land acquisition has been completed for all but eight lots.

An open tender for a housing complex in Khanin Material region has been announced and the timeframe for submission is still ongoing.

Please note: Media organizations (TV, Radio, Social, and Web pages) are prohibited from using our information in whole or in part in any form unless agreed upon, and in such cases, the source (ikon.mn) must be cited.

Back to Table of Contents

Cooperation with France to Create Aviation Environment Meeting International Standards

Published: 2025-07-08 | Translated from: montsame.mn

The Civil Aviation Authority, the National Civil Aviation Center LLC, along with the State Investment Bank of the French Republic (BPI France), the French National Civil Aviation University (ENAC), and the global technology solutions provider Thales Group have signed a memorandum of cooperation. This memorandum, established on the occasion of the 60th anniversary of diplomatic relations between the French Republic and Mongolia, aims to elevate the strategic partnership in the civil aviation sector to a new level.

Under the memorandum, the parties will cooperate on various comprehensive directions, including air traffic management systems, equipment, infrastructure, training, and strengthening human resource capacity. They will also explore opportunities to finance major civil aviation projects and programs in Mongolia without government guarantees, including the possibility of using revenue from air navigation fees as a financial source.

According to the Ministry of Road and Transport Development, this cooperation will significantly contribute to increasing air navigation capacity and establishing a safe, efficient aviation environment that meets international standards.

Back to Table of Contents

World Congress on High-Speed Rail Transport Opens

Published: 2025-07-08 | Translated from: montsame.mn

The 12th World Congress on High-Speed Rail Transport began this morning in Beijing, the capital of China. The four-day congress is attended by more than 2,000 delegates from over 30 countries. Held at the National Exhibition Center in Beijing under the theme "High-Speed Rail Transport: Innovation and Development for a Better Life," the congress is jointly organized by China State Railway Group and the International Union of Railways (UIC).

During the opening ceremony, China's Vice Premier Zhang Guoqing, Transport Minister Liu Wei, UIC President Alain Beroud, President of China State Railway Group Sun Yudong, as well as high-level delegates from Laos, Kyrgyzstan, Mongolia, and Uzbekistan delivered speeches. Zhang Guoqing highlighted that “transportation is the lifeblood of the economy and a bridge connecting civilizations.” He emphasized, “China will continue to adhere to the principle of cooperation with all countries in line with global trends. Guided by the concept of 'consulting together, building together, and benefiting together,' we aim to share the successes of high-speed rail development with other countries and contribute jointly to the development of global infrastructure.”

According to the Vice Premier, as of 2024, the total length of China's high-speed railways has reached 48,000 km, accounting for more than 70% of the world's high-speed railways. He added that "China has fully mastered the core technologies in three major areas: high-speed rail construction, equipment manufacturing, and operations management."

The first World Congress on High-Speed Rail Transport was organized in 1992 and has since been held once every two to three years. The purpose of this global summit is for countries to exchange experiences and present achievements in the sector. This is the second time Beijing is hosting this major gathering; previously, the city organized the seventh forum in 2010.

Back to Table of Contents

International Aviation Experts Gather in Ulaanbaatar

Published: 2025-07-08 | Translated from: unuudur.mn

The Government of Mongolia, together with the International Civil Aviation Organization (ICAO), is organizing the "Asia-Pacific Regional Air Transport Facilitation Forum" (FALF-2025) on June 7-8 in Ulaanbaatar. This forum is notable for coinciding with the 75th anniversary of the ratification of Annex 9 of the Chicago Convention and the 100th anniversary of the development of Mongolia's aviation sector. More than 100 specialists representing border protection, customs, civil registration, air transport service organizations, and businesses from 20 countries in the region have come to participate in the forum.

Organizers have highlighted that this meeting serves as a strategic platform for collaboration to make air transport activities safer, more efficient, and more streamlined within the region. The main topics for discussion are the API (Advance Passenger Information) and PNR (Passenger Name Record) systems related to passenger information, ICAO's "Public Key Directory" (PKD) which is used to check for forged passports, and the implementation of the United Nations' "CT travel programme." Additionally, there will be an exchange of views on how to integrate artificial intelligence, automation, and smart border control solutions into air transport.

Within the scope of the forum, organizers are attentive to not only addressing regional challenges, but also sharing experiences, improving the interoperability of advanced technologies and controls, and raising international cooperation to a new level. Participating parties agreed on the idea that the future of air transport should be smarter, more inclusive, and more reliable.

Back to Table of Contents

New Central Wastewater Treatment Plant Begins Equipment Testing

Published: 2025-07-08 | Translated from: news.mn

The major equipment of the new Central Wastewater Treatment Plant has been accepted by the technical commission, and test runs have begun. However, the trial operation for water purification is planned for July 18th, after the public holiday, according to G. Chuluunbat, coordinator of the project for building the new central wastewater treatment plant in Ulaanbaatar.

The new central treatment plant is being constructed in the territory of the 20th khoroo of Songinokhairkhan district, on the west side of the current treatment plant, in the bio pond area. A total of 17.6 hectares of land is allocated for use. Construction of the new central wastewater treatment plant in Ulaanbaatar started in 2020. Officials reported that the project will be transferred to the state commission in phases at the end of June and will be fully operational by October 2025.

When the new plant is operational, 160 staff positions will be required. As of June this year, the Water Authority has approved 60 positions for the new treatment plant, and work is starting for trial operations soon. Currently, there are 240 Chinese workers and about 100 Mongolian workers at the project site. As the facility is based on modern technology and know-how, well-trained staff are also essential. Therefore, staff training has been ongoing since 2023, including sending trainees to cities in China. Officials also reported that in 2024 alone, 87 hours of training were organized both domestically and abroad.

SLUDGE DRYING AND INCINERATION PLANT TO BE BUILT IN KHOROO XX OF SONGINOKHAIRKHAN DISTRICT

There is an expectation among citizens that after the new central wastewater treatment plant comes into operation, the foul odor in Ulaanbaatar will disappear. Addressing this earlier, officials explained, “In international treatment facilities, wastewater is purified, sludge is dewatered and incinerated. This eliminates the spread of foul odors across the city.” However, even after the new central plant is operational, the city’s foul odor will not completely disappear since only the odors generated during wastewater treatment will be neutralized. Three odor neutralization facilities have been built for treating the wastewater at the new plant. In the final stage, the odor of the dewatered sludge may still be detected by residents. Regarding this, officials said that the project for a sludge incineration plant is under the responsibility of the city administration and a feasibility study is being developed.

The feasibility study for the Sludge Drying and Incineration Plant, which is one of 23 mega projects in the capital, has been completed and will be submitted for discussion at the IV Regular Session of the City Council scheduled for July 8-9, 2025. The plant will be built in the XX khoroo of Songinokhairkhan district to dry, incinerate, and purify the sludge generated by the treatment plants. The process will include sludge input, dewatering, drying, incineration, and the subsequent generation of electricity and heat.

Back to Table of Contents

T.Davaadalai: Road and Bridge Construction Ongoing at 39 Locations in the Capital City

Published: 2025-07-08 | Translated from: itoim.mn

The Regular IV Session of the Ulaanbaatar Citizens' Representative Khural is currently taking place. During the session, a total of 22 issues are being discussed. According to the agenda, Representative of the Citizens' Khural and First Deputy Governor of Ulaanbaatar in charge of Economic Development and Infrastructure, T. Davaadalai, presented information about the ongoing development projects funded by the national and capital city budgets, as well as foreign loans and aid, totaling 5.9 trillion MNT.

Specifically, in Ulaanbaatar city, it is planned to construct new roads in 83 locations, maintain 1,231 km of roads, and build new stormwater drainage facilities at 12 locations. Out of these, road construction is underway at 39 locations, covering 81.7 km of roads and 1.5 km of bridge work.

Out of 44 locations planned for road repairs and upgrades totaling 99.1 km, construction is underway at 17, completed at 27, and 2 projects/measures under the project have reached over 70% completion. Additionally, stormwater drainage pipelines for 17 km of road in 12 locations are to be constructed. To prevent the formation of potholes on roads during winter, maintenance work is regularly performed on a total of 1,231 km of roads.

Back to Table of Contents

Society

PHOTO: Mongolians Welcome Their Majesties Emperor Naruhito and Empress Masako of Japan Dressed in National Attire

Published: 2025-07-08 | Translated from: ikon.mn

The photographs were used with special permission from MPA Agency.

Their Majesties Emperor Naruhito and Empress Masako of Japan are paying a state visit to Mongolia from July 6th to 13th. Today, the President of Mongolia, U. Khurelsukh, and First Lady L. Bolortsetseg officially welcomed the esteemed guests in the central square of the capital city. Members of the government, grand champions of professional sumo wrestling, members of parliamentary groups of both countries, and recipients of the Order of the Rising Sun awarded by the Government of Japan, along with delegations and guests, stood in line at the ceremony. Additionally, Mongolian citizens who have studied, worked, or lived in Japan adorned themselves in national attire and carried the flags of both countries, further enriching the welcoming ceremony.

After the Chief Commander of the Honor Guard, Senior Lieutenant B. Enkhmanlai, reported on the formation of the state honor guard, the exemplary brass band performed the national anthems of Japan and Mongolia. During the playing of Japan's national anthem there were nine ceremonial gun salutes, and during Mongolia's national anthem, there were eight, making a total of 17 salutes altogether.

At the end of the welcoming ceremony, Their Majesties the Emperor and Empress of Japan, the President of Mongolia, and the First Lady paid tribute to the statue of Genghis Khan and, turning back, waved to the assembled crowd. As they did so, the exemplary brass band played "Mongol Tal Nutag," making it a truly emotional moment.

To cover this historic visit, around 50 journalists, photographers, and cameramen from various Tokyo press organizations have arrived. By reporting on Mongolia and covering the events of the visit, these journalists will provide significant publicity for the country. This is expected to positively influence the number of Japanese tourists visiting Mongolia.

Notice:
Media organizations (television, radio, social media, and websites) are prohibited from partially or fully using our information in any form without permission. If agreed upon, the source (ikon.mn) must be cited when using the information.

Back to Table of Contents

D.Dagvadorj: I am very pleased to have stood in the welcoming section for the State Visit of the Emperor of Japan

Published: 2025-07-08 | Translated from: isee.mn

The President of Mongolia U.Khurelsukh and his wife L.Bolor-Tsetseg officially welcomed His Majesty Emperor Naruhito of Japan and Empress Masako at Sukhbaatar Square. Grand Sumo champions traditionally take part in the ceremony to welcome the Emperor of Japan. In particular, Hakuho M.Davaajargal, Asashoryu D.Dagvadorj, and Harumafuji D.Byambadorj participated in the ceremony.

Asashoryu D.Dagvadorj shared his thoughts on social media regarding the state visit. He said,

"I am very pleased to have stood in the welcoming section for the state visit of the Emperor of Japan. We reminisced for a while about the summer of 2007 when, as Crown Prince, he visited Mongolian soil for the first time. At the moment when he remembered his visit to my father's rural home, I was overwhelmed with respect for my father. My father has passed the threshold of 80 years. Such is the nature of time. Your Majesty, please enjoy your stay in my Mongolian homeland with the Empress. May your vision remain clear. Also, I wish President U.Khurelsukh of Mongolia all the best."

Back to Table of Contents

Developing Khanbogd Together

Published: 2025-07-08 | Translated from: ikon.mn

Oyu Tolgoi. For Mongolians, over the past 10 years, this name has become a symbol of mining, construction, and progress. Since 2013, when copper concentrate production started, this project has now created jobs for over 20,000 people and has become a central pillar of the nation's economy. Furthermore, the company's activities are not only focused within the mine itself. Many projects and initiatives aimed at directly impacting and developing the lives of citizens in Omnogovi province, especially Khanbogd soum, have been implemented together. A vivid example is the “Khanbogd Development Accelerator Oyu Tolgoi Fund,” which was established with an investment of 50 million USD, working under a comprehensive master plan for local development.

Since its establishment in 2022, the "Khanbogd Development Accelerator Fund" has implemented more than 30 projects and programs, directly and indirectly benefiting over 10,000 people. It operates in areas such as expanding Khanbogd soum’s infrastructure, supporting business development, and conducting community-oriented social projects. Projects are implemented with broad stakeholder participation, collecting opinions from citizens and local officials, and making decisions together in a partnership committee, as highlighted by Khanbogd soum governor M. Tseveenravdan.

A comprehensive plan for Khanbogd’s development up to 2040 has already been drawn, envisioning it as a city with a population of 30,000. Currently, about 9,000 people reside in the soum. Records indicate that about 20% of the citizens in Omnogovi aimag work for Oyu Tolgoi LLC, making Khanbogd a mining-based settlement. However, this is not a label the town wants to carry forever—they aim to become an economically independent, diversified, and progressive city not reliant on a single sector.

Setting a benchmark even for the capital
A few days ago, photos of a double-paved road and perfectly even curbs went viral on the X platform, surprising many who are used to seeing uneven roads and irregular curbs frequently replaced in the capital. Those photos were from a road infrastructure project in Khanbogd soum. Since 2022, the majority of the accelerator fund’s investment has gone towards infrastructure and construction projects. It is only logical to prioritize the basic infrastructure needed to expand the town center and create a citizen-friendly environment. T. Aldarsaikhan, director of the Accelerator Fund, noted that they are striving for international standards and aiming for high-quality, sustainable, and exemplary infrastructure, breaking away from the idea that rural areas must be outdated.

Standardization is not only about construction. The workplace culture and safety habits followed by mine workers have also started shaping Khanbogd’s public habits in a positive way, emphasized Governor Tseveenravdan. For instance, people who are used to wearing seatbelts while driving at work continue this practice in their everyday lives, making such safety habits part of the community culture and investing in the attitudes of future citizens.

Developing together
Across Mongolia, many future cities are still being discussed and planned on paper. During discussions in January, Member of Parliament G. Luvsanjamts stressed the core idea that “The state cannot build cities alone; private sector cooperation is essential.” Unlike the socialist era, when Erdenet city was established by the government, today the development of new cities and settlements requires the cooperation of the state, private sector, and citizens themselves.

To support private business and entrepreneurship, the government provides cooperative development loans, and starting next year, loans supporting small and medium enterprises will become available in Khanbogd soum. At the same time, the Accelerator Fund's micro and small business loan program has already involved many citizens, increasing the number of jobs accordingly.

One such entrepreneur is 27-year-old M. Dariimaa, owner of Uzhiin dairy and cattle farm. Although both Dariimaa and her husband are originally from Ulaanbaatar, they decided to start a new life and business in Khanbogd, believing in the town’s growing potential. "There are many jobs and citizens have strong purchasing power, so I was confident the business would flourish. We wanted to contribute to this development, so we started our own business. We prioritize supplying school and kindergarten children with our dairy products, as we want future city residents to be healthy. That's why, among our many partnership contracts, we focus on these clients," said M. Dariimaa. In less than a year, by taking part in the micro and small business loan program, she has expanded her team and business.

N. Lkhagvadorj runs a furniture manufacturing business. As the number of settlers grows and more households set up new homes, demand for their products also increases. Last winter, after receiving a loan from the Accelerator Fund, they expanded their business, which was originally established seven years ago by seeing the economic opportunities created by the Oyu Tolgoi-based settlement. Now, besides making household furniture, they also manufacture office furniture and carry out interior design projects.

Effective policy implementation and financing have allowed Khanbogd’s citizens to live more confidently about the future. In addition, large companies are opening branches in Khanbogd. Factories, hotels, restaurants, medical and financial institutions such as “Teso” and “Voyage” have already commenced operations in the soum. All of this stands as an example of sustainable development and decentralization.

Not dependent, but sustainable
Khanbogd was established in 1924, originally developing as a livestock-based community. However, in recent years, with the influence of the Oyu Tolgoi mine, the soum has seen an influx of temporary residents, and the local budget has increased significantly, with the economic pathway expanding beyond livestock. Stakeholders emphasize that going forward, it is crucial for the city to develop its own independent economy, not just relying on mining, by implementing sustainable policies and effective use of budgets.

“In the coming years, it is inevitable to collaborate and partner with the mining sector. But at some point, should this activity cease, the focus will shift to tourism and agriculture to support the economy,” said the governor. In 2023, a paved road connecting to the popular Demchog monastery was completed, along with an electricity connection, advancing tourism infrastructure. A tourist information center also operates, aiming to stimulate tourism-driven economic growth. As agriculture remains a foundational sector, plans include developing related industries and integrating livestock herding with tourism. Many such initiatives are included in Khanbogd’s development plan, ensuring sustainable progression. Local leaders are confident in this path.

To enable this independent future, the "Khanbogd Development Accelerator Oyu Tolgoi Fund" is leading investments in infrastructure, foundational capital, capacity building for citizens and communities, and socio-cultural development.

Notice
Media organizations (television, radio, social media, and websites) are prohibited from reusing this information in whole or in part without permission; only with agreement and by crediting the source (ikon.mn) may it be used.

Back to Table of Contents

Environment

G. Damdinyam: The implementation of the 'Gold' program now depends on the Ministry of Environment and Tourism. Our sector has done all its part

Published: 2025-07-08 | Translated from: isee.mn

In response to journalists' questions about the Gold Program, Minister of Industry and Mineral Resources G. Damdinyam gave the following explanation. He said, "Our Ministry of Industry will play a key role in diversifying investments. Investments must be made into processing stage industries. As a result, service sectors develop as well, so major investments will be directed here. Most of the 17 mega projects are related to our ministry. The mining sector is actually the sector that creates the least number of jobs. However, the service and processing industries related to mining create the most jobs. Therefore, we have to look at the entire supply chain and make policies for it.

We have major gold projects. The government has issued special exploration licenses for these. We need to focus on these projects. From the Ministry of Industry and Mineral Resources, we are introducing main directions that can be urgently moved forward to stimulate economic activity, ensure forex rate stability, and increase currency reserves. There is already a resolution from the State Great Khural giving us directions. Now, for implementation, the Ministry of Environment needs to submit the issue to the Government and get approval from the State Great Khural.

Our sector has done all the necessary work regarding the Gold Program. Now it has moved into the next stage. If we are granted approval, we can extract using the world's best and safest rehabilitation technology. However, we need to carefully evaluate what issues we can and cannot touch before making a decision," he said.

Back to Table of Contents

A Hearing Will Be Held Regarding “Khalzan Buregtei” Mine and Local Residents’ Opposition

Published: 2025-07-08 | Translated from: gogo.mn

Today, the Standing Committees on Environment, Food, Agriculture, and Economics of the State Great Khural of Mongolia held a joint session to decide on setting the date for a general oversight hearing regarding the operation and environmental impact and risks of the “Khalzan Buregtei” deposit located in Myangad soum, Khovd province, and to select the presiding officer of the hearing.

Member of Parliament and Chair of the Economic Standing Committee S. Sededorg read and introduced the draft resolution. According to the draft, the general oversight hearing is scheduled for September 10, 2025, and Parliament Member B. Bayarbaatar, Chair of the Ethics and Discipline Standing Committee, is designated as the presiding officer.

Parliamentarians B. Bat-Erdene, N. Naranbaatar, Ch. Lodoi-Sambuu, S. Tsenguun, B. Jargalan, Ts. Iderbat, Z. Mendsaikhan, J. Batjargal, M. Badamsuren, O. Batnairamdal, S. Zamira, B. Uyanga, E. Bolormaa, and R. Batbold raised questions and made statements regarding the draft resolution.

Members of Parliament expressed their opinions and opinions on the rationale and scope of the hearing, as well as issues related to the selection of the presiding officer.

MP N. Naranbaatar pointed out that the scope of the hearing focusing only on the mine's operation and environmental impact is too narrow, and suggested that social, economic, and public and livestock health issues should also be studied and resolved. This suggestion was supported by other Members of Parliament.

Suggestions were also made to bring forward and expedite the date of the hearing, or to conduct it in Khovd province, at the local area, instead of State Palace. MP B. Bat-Erdene criticized the increasing involvement of the government in business activities, while MP M. Badamsuren expressed the principle that a hearing should be organized prior to the issuance of special mining licenses.

MP Ch. Lodoi-Sambuu proposed that the presiding officer of the hearing should be selected from the members of the Economic or Environment, Food, Agriculture Standing Committees, especially from the opposition parties in Parliament. Some MPs supported this, and MP S. Tsenguun nominated himself for the position.

The “Khalzan Buregtei” deposit has been studied since 1983, and a special mining license was granted in 2004. According to public information about the holders of exploration and exploitation licenses, the mining license MV-019329 for the 106.66-hectare field named Bor Tolgoi of the deposit was granted to "Mongolian Lantanoide Corporation" LLC, and the licenses MV-012335 for the 91.39-hectare field named Ar Khuren and MV-006911 for the 175.24-hectare field named Khalzan Buregtei were granted to "Mongolia National Rare Earth Corp" LLC.

Public information reveals that the deposit contains reserves of 5.0 million tons of ore with rare earth elements such as Lanthanum (La), Cerium (Ce), Yttrium (Y), Dysprosium (Dy), and Neodymium (Nd). It is said that the production of one ton of rare earth elements generates about 10,000 cubic meters of waste gases containing various toxic substances, releases 70-100 cubic meters of acid-containing water, and leaves over one ton of radioactive waste in the environment per ton produced.

Local residents have expressed opposition and tension for some time, worrying that if mining starts, radioactive materials could be activated, posing risks to the nature and ecology of the Great Lakes depression and Mongolia's clean water basin. However, it remains unclear what measures the above-mentioned companies will take to mitigate environmental risks and adverse impacts.

Therefore, in order to openly and transparently address the public opposition related to the exploitation of this deposit, to assess the implementation of laws and monitor the activities of organizations and their leaders responsible for enforcing the law, 27 members of Parliament, including D. Amarbaysgalan and O. Batnairamdal, proposed the draft resolution to hold a general oversight hearing.

According to the MPs' suggestions, the topic of the hearing was established as “Detailed Study of the Operation of Khalzan Buregtei Deposit and Its Adverse Environmental Impact and Risks,” and a vote was held on the date and presiding officer. 60.6% of members attending the joint standing committee meeting supported appointing MP B. Bayarbaatar, Chair of the Ethics and Discipline Standing Committee, as the presiding officer, and 63.6% agreed to set the date to September 23. The resolution was thus approved with 63.6% support, according to the Parliament’s press department.

Back to Table of Contents

Health

NCCD: Number of Confirmed Measles Cases Reaches 11,864

Published: 2025-07-08 | Translated from: isee.mn

According to information released by the National Center for Communicable Diseases, the total number of confirmed measles cases has reached 11,864.

Current hospitalizations include: - People currently receiving treatment in hospitals: 414 - Mild cases: 48 - Moderate cases: 414 - Severe cases: 19

Overall, 10,862 people have recovered, 481 are being treated at home, 7 people have died, and a total of 89,855 people have been identified as contacts.

By age group, the highest incidence is among children aged 10-14, with 4,691 cases. Additionally, 2,472 children aged 0-4 and 1,512 children aged 5-9 have contracted measles.

Measles is a highly contagious infectious disease, but it can be prevented with vaccination. The most effective method to prevent this disease is the two-dose vaccine, and authorities are urging the public to get vaccinated.

Back to Table of Contents

Today's Stories

Politics

Economy

Diplomacy

Infrastructure

Society

Environment

Health

Politics

The Policy Agenda of the Government Led by G. Zandanshatar Was Presented

Legal Reform Needed to Ensure Implementation of Human Rights Resolutions

The government has started gathering public opinions through the E-Mongolia system and the 11-11 center on what should be accomplished in the first 100 days

The Budget Amendment Was Supported in Principle and Sent for Preparation for the First Reading

Position: Politicizing Pension Loans is Wrong

The Government has started collecting citizen proposals through Emongolia and the 11-11 center on what urgent actions it should prioritize

The Government will seek citizens' input on some tasks to be implemented in 100 days

Parliament Discusses Amendments to the Law on Fiscal Stability

Economy

Mongolian Economic Forum Begins

TODAY: "Mongolian Economic Forum-2025" to Take Place

The Economic Forum Will Yield Results If Investment Is Attracted To Postponed Projects

Expressing Intent to Further Expand Mining Cooperation

Officials Will Be Held Accountable for Actions or Inactions that Harm Investors

No Expenses from the Government for the Economic Forum

TDB Signs Trade Finance Agreement with Bpifrance Bank of the Republic of France

Maintaining a Tight Monetary Policy to Keep the Tugrik's Yield High

B. Lkhagvajav: The Economic Forum is changing from a platform that only praised the Government

Are Commercial Bank Owners Profiteering through Their Non-Bank Financial Institutions?

Diplomacy

Japan's Emperor Visits Mongolia for the First Time, Marking a "New Chapter in History"

Expansion of Quarantine and Technical Cooperation for Cross-Border Movement of Animals, Plants, and Their Products

Meeting Held with Chinese Customs Leaders on Meat Export Issues

Official Welcome Ceremony for the Emperor and Empress of Japan

President of Mongolia U. Khurelsukh Welcomes Emperor Naruhito and Empress Masako of Japan

PHOTO: Japan's Emperor and Empress Officially Welcomed

Infrastructure

Three Participants Meet the Requirements in the Selection of Private Partners for the TPP-5 Project

T.Davaadalai: Approximately $920 million is required to construct the First Ring Road. 85% will be borrowed from a foreign EXIM bank.

Cooperation with France to Create Aviation Environment Meeting International Standards

World Congress on High-Speed Rail Transport Opens

International Aviation Experts Gather in Ulaanbaatar

New Central Wastewater Treatment Plant Begins Equipment Testing

T.Davaadalai: Road and Bridge Construction Ongoing at 39 Locations in the Capital City

Society

PHOTO: Mongolians Welcome Their Majesties Emperor Naruhito and Empress Masako of Japan Dressed in National Attire

D.Dagvadorj: I am very pleased to have stood in the welcoming section for the State Visit of the Emperor of Japan

Developing Khanbogd Together

Environment

G. Damdinyam: The implementation of the 'Gold' program now depends on the Ministry of Environment and Tourism. Our sector has done all its part

A Hearing Will Be Held Regarding “Khalzan Buregtei” Mine and Local Residents’ Opposition

Health

NCCD: Number of Confirmed Measles Cases Reaches 11,864

You might also like...

Mongolia News Summary for July 08, 2025

Mongolia News Summary for July 07, 2025

Mongolia News Summary for July 06, 2025

Mongolia News Summary for July 05, 2025

Mongolia News Summary for July 04, 2025