Quarterly Report of 2022 | 1st Edition

Quarterly Report of 2022 | 1st Edition

The Business Council of Mongolia delivers you its First Edition of the BCM Quarterly Report of 2022. The first edition covers all events organised by the BCM through the months of January - March. The fuller version of the articles can be found in the highlighted "details" part on the report.

PDF:  2022 First Quarterly Report 

BCM of Mongolia held a Knowledge Sharing Session on “New Energy Policy”

BCM of Mongolia held a Knowledge Sharing Session on “New Energy Policy”

On 23 February 2022, the BCM of Mongolia held a Knowledge Sharing Session on “New Energy Policy”. The presentation has been presented by Ms. Shannon Cowlin, the Principal Energy Specialist at ADB. She presented the new energy policy approved by the Asian Development Bank (ADB). The new policy aims to support the universal access to reliable and affordable energy services, while promoting the low-carbon transition in Asia and the Pacific.


The event has successfully been held with over 100 attendees both in-person and online. We would like to express our appreciation to Ms. Cowlin for the wonderful presentation. Special thanks to everyone who has showed their interest to our session. We look forward to seeing you on our next events.


The presentation will soon be uploaded on our website. Stay tuned with our updates on social media platforms: IG, FB, LinkedIn, Twitter. The PPT will also be shared via NewsWire on Friday.

Mongolian Economic Forum: New Revival Policy 2022

Mongolian Economic Forum: New Revival Policy 2022

The Mongolian Economic Forum hosted a series of six-preliminary discussions on March 21-30, 2022, under the framework of the New Revival Policy. We are present a series of presentations made during these discussions.

  • Click on the links below to view the presentations made during the March 21 "Energy Revival Policy" Preliminary Discussion.

PPT; Energy projects EngEnergy projects Mon 

  • Click on the links below to view the presentations made during the March 22 "Recovery of Public Sector Productivity" Preliminary Discussion.e

PPT; State Recovery - Legal ReformDigital transformationPublic Private Partnership

  • Click on the links below to view the presentations made during the March 24 "Recovery of Industrialization" Preliminary Discussion.

PPT; Mineral resources development policy Eng , Mineral resources development policy Mon , Development policy of light and food industry eng , Development policy of light and food industry mon , Objectives and measures for implementation in food agriculture eng , Objectives and measures for implementation in food agriculture mon , Cultural and creative industry eng , Culture industry revival mong , Tourism 

  • Click on the links below to view the presentations made during the March 25 "Rural and Urban Recovery" Preliminary Discussion

PPT; New zuunmod city development planning in khushig valley the eng , Revival of city and rural areas and the capital city of ulaanbaatar eng , UB recovery mong , Urban and rural dev mon 

  • Click on the links below to view the presentations made during the March 28 "Recovery of Ports" Preliminary Discussion.

PPT; Aviation_Industry , Border_crossing_infrastructure , Border_recovery , боомт-чөлөөт-бүс 

https://www.facebook.com/MEForum2022/videos/3052802685049274 

https://www.facebook.com/MEForum2022/videos/756725518624879/ 

  • Click on the links below to view the presentations made during the March 29 "Recovery of Green Development" Preliminary Discussion.

PPT; Green Finance Roadmap_mon , NDA_mon , National-sustainable-finance-roadmap-eng , Regional_collaboration_on_combating_desertification_and_climate_eng , Regional_collaboration_on_combating_desertification_and_climate_mon , ndc-commitments-its-financing-and-green-recovery-agenda- 

  • Click on the links below to view the presentations made during the March 30 "Recovery of Green Development" Preliminary Discussion.

PPT; Billion tree_mon , Billion-tree-national-campaign-eng , Blue horse project_mon , Blue-horse-project_eng , Green Development Recovery_EBRD , Green bond opportunities_Sonor , Green-capital-market-development-global-best-practices , Green_and-sdgbond-issuance-opportunitiesin-mongolia_eng , Utilizing-trust-fund-framework-for-green-financing-eng , Utilizing-trust-fund-framework-for-green-financing-mon 

 

Meeting between the Executives of the Business Council of Mongolia and the  Development Bank of Mongolia

Meeting between the Executives of the Business Council of Mongolia and the Development Bank of Mongolia

Business Council of Mongolia’s (BCM) Board of Directors and and Development Bank authorities met on March 25 and discussed possible future cooperation. 

Board of Directors expressed their views on the possibility of further cooperation between the private sector and the Development Bank and discussed further cooperation with the Development Bank in the framework of the New Revival Policy and other projects and programs. In addition, it was agreed that the Development Bank should develop and improve its governance, strengthen its human resources, and should have sufficient financial resources to successfully implement major projects and programs.

In the near future, BCM plan to hold its Monthly Meeting in cooperation with the Development Bank and other relevant organizations on a wider range of topics. The meeting will also discuss and bring the views of experts and professionals on the challenges facing the Development Bank, and international experiences that overcome similar issues.

The first law of the Development Bank was approved in 2011 and amended in 2017.

2011 law of the Development Bank had two major functions. These include:

  1. The State Great Khural shall provide loans to finance major development projects and programs in Mongolia, and the list of projects and programs to be financed shall be approved by the State Great Khural at its annual spring session.
  2. It is stated that the draft approved by the Parliament will be approved by the Government in detail, but the repeal of these provisions in 2017 has led to the      current difficult situation.

 At the end of 2021, the Bank of Mongolia conducted an asset quality inspection of the Development Bank and officially concluded that more than 55 percent of loan assets were non-performing. In addition, most of the non-performing loans issued today were allocated between 2017 and 2021.

Монголын Бизнесийн Зөвлөл (МБЗ)-ийн Удирдах Зөвлөлийн гишүүд болон Хөгжлийн Банкны удирдлагууд хувийн хэвшлийг хэрхэн дэмжих мөн Шинэ сэргэлтийн бодлогын хүрээнд хэрхэн хамтран ажиллах болон бусад асуудлаар санал солилцсон уулзалтыг 3 дугаар сарын 25-ны өдөр зохион байгуулав.

 Хувийн хэвшлийн байгууллагууд Хөгжлийн банктай цаашид хэрхэн хамтран ажиллах боломжийн талаар МБЗ-ийн Удирдах Зөвлөлийн гишүүдээс санал хүсэлтээ илэрхийлж, Шинэ сэргэлтийн бодлогын хүрээнд болон бусад төсөл хөтөлбөрийг хэрэгжүүлэхэд Хөгжлийн Банктай цаашид хэрхэн хамтарч ажиллах талаар ярилцав. Түүнчлэн, Хөгжлийн Банк нь  цаашид Засаглалын хувьд төлөвших, Боловсон хүчнээ чадавхижуулах, томоохон төсөл хөтөлбөрийг амжилттай хэрэгжүүлэхэд санхүүгийн Хангалттай нөөцтэй байх  ёстой зэрэг асуудлаар санал нэгдэв.

 Мөн МБЗ-нь ойрын хугацаанд гишүүддээ зориулсан сар бүрийн уулзалтаа Хөгжлийн Банк, бусад холбогдох байгууллагуудтай хамтран илүү өргөн хүрээг хамарсан сэдвээр хийхээр төлөвлөв. Уг уулзалтын хүрээнд Хөгжлийн банкинд тулгараад буй асуудлын гарц, цаашдын үйл ажиллагааг хэрхэн зөв оновчтой авч явах, бусад улсад ижил төстэй байдлаас хэрхэн гарсан талаарх олон улсын туршлагын талаар мэргэжилтнүүдийн санал бодлыг мөн сонсох юм.

Хөгжлийн Банкны өнөөгийн нөхцөл байдал

Хөгжлийн банкны анхны хууль нь 2011 онд батлагдаж 2017 онд нэмэлт өөрчлөлт оруулсан.

Хөгжлийн Банкны 2011 оны хууль хоёр том чиг үүрэгтэй байсан. Үүнд:

  1. УИХ-аас Монгол Улсын хөгжлийн томоохон төсөл, хөтөлбөрүүдийг санхүүжүүлэхэд зориулан зээл олгох бөгөөд санхүүжүүлэх төсөл, хөтөлбөрийн жагсаалтыг УИХ жил бүрийн хаврын чуулганаар батална.
  2. УИХ-ын баталсан төслийг Засгийн газар нарийвчилж батална хэмээн заасан байдаг ч 2017 онд уг заалтуудыг хүчингүй болгосноор өнөөгийн хүндрэлтэй нөхцөл байдал үүсэхэд хүргэжээ.

2021 оны сүүлээр Монголбанкнаас Хөгжлийн банкинд активын чанарын шалгалт оруулсны үндсэн дээр 55 гаруй хувийн зээлийн актив чанаргүй болсон гэсэн албан ёсны дүгнэлт гаргасан. Түүнчлэн өнөөдөр үүсээд байгаа чанаргүй зээлийн ихэнхийг 2017-2021 оны хооронд олгосон байна.

 

The House Expo 2022

The House Expo 2022

 

The Business Council of Mongolia co-organized "The future and opportunities of energy-efficient private housing" discussion on 25 March 2022 at Shangri-La Hotel Ballroom in collaboration with with ТоС Холбоо / MSFA and Century 21 Mongolia, Century 21 Summit in the framework of House Expo Mongolia. The discussion was Chaired by the Board of Directors of the BCM, Mr. M. BOLDOO.

The expo has been organised in time of a higher demand for a more sustainable and environmentally friendlier housing system and real estate. The event aimed to work as the bridging tool between the real estate owners, investors, and buyers.

Networking event was held after the expo.

 Here is the list of the moderator and panelists and their discussion point:

16:00 - 16:15  “The future and opportunities of energy-efficient private housing" – The head of the Urban                                                Development and Land Affairs Department, B.GUNBOLD

16:15 - 16:30  The future and opportunities of energy-efficient private housing project; outcomes and                                                future partnerships – Board of Director of the BCM, CEO of Mongolia Green Finance Corporation,                                                                             M. BOLDOO

16:30 - 16:45   The need for energy-efficient private housing – CEO of Hybrid House LLC, Ts. BAT-ERDENE

16:45 - 17:35  Discussion: “The future and opportunities of energy-efficient private housing

                        Moderator: M. BOLDOO, Board of Director the BCM, CEO of Mongolia Green Finance Corporation 

Panelists:  

  • BAT-ERDENE, CEO of Hybrid House LLC
  • BATBAYAR, Deputy Chief Business Development Officer (CBDO) of Mongolian
  • Mortgage Corporation HFC LLC 
  • GANBAA, CEO of Sakura Property LLC
  • GANBAATAR, Deputy Chief Risk Officer of State Bank
  • GANTULGA, CEO of Mongolian Mortgage Corporation HFC LLC 
  • GUNBOLD The head of the Urban Development and Land Affairs Department
  • TUVSHINKHUU, Senior Officer at the Energy Efficiency Project of GIZ Mongolia
  • MUNKHBAYAR, Head of Financial Market Division

Business Tour Steppe arena

Business Tour Steppe arena

 

The Business Council of Mongolia held a Business Tour at the Steppe Arena on 19 March 2022. The tour was  personally presented by the founder of the Steppe Arena and the Steppe Link Holding LLC, Mr. Ts. MUNKHTUVSHIN, who is also a member of the BCM Board of Directors.

In 2022, the Steppe Arena was named as the Best Public Service Development in Asia by the International Property Award. They aim to be an exemplary provider of arts, sports, and community service for the convenience of its customers. The Steppe Arena is built  per  proposed standards from the International Olympic Committee. The arena proudly provides  the  opportunity to host both international and continental games.

For the tour, the Steppe Arena operated exclusively for BCM members and their family and friends. It included guided tour around the arena, including the complex construction process of the arena, current operation systems and  future plans. To ensure the comfort of the adults during the tour, the arena prepared a children's playroom equipped with special eco-friendly toys and instruments suitable for children of all ages.The presentation during the tour also included a 3D light show and figure skating performance by the young Mongolian figure skater Ms. Misheel Otgonbaatar.

The arena offers different kind of sports program for people of all ages and genders such as the early morning program (for the busy bees) and the senior citizen program. They also have training programs for young and older children in figure skating and ice hockey. Additionally, the arena can facilitate all kind of big and small events such as concerts, expos, tournaments, birthdays, wedding proposals and more.

The Steppe Arena has emphasised they welcome various partnering and investing opportunities and plans to expand their business further in the future. If you wish to contact the Steppe Arena for partnering, investing, events related purposes, contact Ms. Nomin Ariundbold, the Corporate Sales Manager of Steppe Link Holding LLC, at This email address is being protected from spambots. You need JavaScript enabled to view it. or at +976 7505 9911 | +976 9916 4641; O. Sugar This email address is being protected from spambots. You need JavaScript enabled to view it. +976 8601 1666

PDF: Steppe Arena PPT  

https://www.steppearena.mn/

 
GENDER EQUALITY TODAY FOR SUSTAINABLE TOMORROW

GENDER EQUALITY TODAY FOR SUSTAINABLE TOMORROW

The Business Council of Mongolia in collaboration with Australia Awards, the Zorig Foundation , and the International Women's Federation of Commerce and Industry (IWFCI) Mongolia held its Monthly Meeting for March on 09 March 2022 on the topic the "GENDER EQUALITY TODAY FOR SUSTAINABLE TOMORROW".
 
The theme for International Women’s Day, 8 March, 2022 (IWD 2022) was, “Gender equality today for a sustainable tomorrow”, recognizing the contribution of women and girls around the world, who are leading the charge on climate change adaptation, mitigation, and response, to build a more sustainable future for all.
 
Special thanks to our chairs, all panelists, and everyone who took interest in our event.
 
Here is the list of our honorary speakers.
 
(PANELISTS 1)
Ms. L. Enkhtuvshin, Country Program Manager Australia Awards in Mongolia
Mr. E. Bulgantamir, Chairman, Seruun Group
Ms. E. Nomindari, CEO, Mongolian Sustainable Finance Association
Ms. L. Tselmegsaikhan, Executive Director, IRIM
Ms. J. Ichinkhorloo, Chief Human Resource Officer, APU JSC
Ms. O. Odgerel, Moderator
 
(PANELISTS 2)
Ms. Kh. Amarjargal, Country Director for Mongolia, Rio Tinto
Ms. B. Erdenedelger, First Deputy CEO, Khan Bank
Ms. B. Punsalmaa, Board Member, IWFCI Mongolia
Ms. B. Naymsteren, Managing Partner, Snow Hill Consultancy LLP
Ms. M. Zolzaya, Board Member, IWFCI Mongolia
Ms. B. Dulamkhorloo, Moderator
 
 
 
BCM FEBRUARY 2022 MONTHLY MEETING RECAP

BCM FEBRUARY 2022 MONTHLY MEETING RECAP

 

BCM FEBRUARY 2022 MONTHLY MEETING RECAP 

The Business Council of Mongolia’s February 2022 Monthly Meeting was held on 28 February 2022, with Chairman Ts. Tumentsogt hosting for a combined audience of around 300 people at the Shangri-La in-person and others online via Zoom.

Things have taken a drastic turn from only a week ago with the onset of the Russo-Ukrainian war, causing great uncertainty all around the world and in Mongolia. It is yet to be seen how the war will affect Mongolia’s businesses and economy, stated BCM Chairman Tumentsogt in his opening remarks.

At the BCM Secretariat, Mr. U.Unenburen has resigned from his post as Managing Director to focus on his private business ventures. The BCM Board thanks Mr. Unenburen for his service as the Managing Director of BCM since May 2020.

Ms. B.Javkhlan has been appointed as the new Managing Director. She has been working as a Director (Board Affairs, Working Groups, Memberships) at the BCM since December 2018. Javkhlan is a business executive with over 10 years of extensive international working experience.

For more information on personnel changes and working groups at the BCM, please read our most recent press release.

The meeting started with a presentation by the Director General of the Monetary Policy Department of the Bank of Mongolia, Mr. B.Bayardavaa. He noted that economic recovery is underway; however, it has been slower than expected. Mongolia experienced 1.0 percent growth in 2021, despite a forecast of 1.4 percent. Inflation has risen dramatically, with prices of goods and services increasing by 11.4 percent as of Q4’2021.

Following Bayardavaa’s presentation, an economists’ roundtable was held on the topic of “Perspectives on the Mongolian Economy,” moderated by Chairman Tumentsogt. On the panel were:

  • Mr. B.Lkhagvajav, Member of the Supervisory Board of the Bank of Mongolia
  • Mr. E.Amarbayasgalan, Principal Banker, Ard Financial Group.
  • Ms. B.Otgontugs, Professor of Economics at the National University of Mongolia
  • Mr. N.Enkhbayar, Head of the Center of Economic Security, Institute of Strategic Studies
 
During the panel discussion, Mr. Enkhbayar, Head of the Center of Economy Security at the Institute of Strategic Studies, delivered a presentation on “Geopolitical Events and Their Economic Consequences."

After a brief Q&A with the audience, Ambassador and Research Professor in International Politics Mr. D.Bayarkhuu gave a speech on the “Mongolian Economy and External Factors,” in which he briefed the audience on the situation in Ukraine and its possible ramifications on Mongolia.

Mr. Bayarkhuu went on to moderate the second panel discussion of the meeting on the topic “How will external factors affect the economy of Mongolia?” On the panel were:
  • Ms. E.Nomindari, Executive Director, Mongolian Sustainable Finance Association
  • Mr. B.Sergelen, Managing Director of NovaTerra
  • Dr. Ch.Khashchuluun, Economist
  • Mr. O.Ochirjav, Ambassador, Former Director of the Secretariat of the National Security Council

 
During the panel, Ms. Nomindari gave a presentation overviewing climate risk and impact. She noted that the ambitious pledges made at COP26 means we need to think today about how we want to shape the economy 20, 30 years down the line.

Mr. Sergelen also gave a presentation on the “Current State of Capital Markets, Cryptocurrencies, and Digital Markets,” and a brief Q&A was held with the panelists before the meeting was adjourned.

For more information on key points made by speakers and panelists, please view the Editor’s full notes from the meeting.


Links:
  1. Editor's notes (English)
  2. "Economic Overview" (Mongolian) by B.Bayardavaa, Director General, Monetary Policy Department, Bank of Mongolia
  3. "Geopolitical Events and Their Economic Consequences" (Mongolian) by N.Enkhbayar, Head of the Center of Economic Security, Institute of Strategic Studies
  4. "Climate change and its impact on the economy and financial sector" (English) by E.Nomindari, Executive Director, Mongolian Sustainable Finance Association
  5. "Current State of Capital Markets, Cryptocurrencies, and Digital Markets" by B.Sergelen, Managing Director of NovaTerra

 

 

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