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BCM HIGHLIGHT
WORLD EXPORT DEVELOPMENT FORUM B2B SURVEY FOR ICT SECTOR
Dear colleagues,
I am writing to you on behalf of our programme lead, Ms. Natalie Domeisen, to request your assistance in disseminating a questionnaire prepared by ITC experts, Ms. Beatriz Rodriguez, and Mr. Martin Labbe (in a copy). The questionnaire aims to evaluate the capacity of Mongolian ICT companies to sell digital services and products internationally, and it has already been shared by MNCCI and ITC. However, the response rate has been low, and we would greatly appreciate your help in reaching more companies. The main sources, from where the Mongolian ICT companies were collected were Mindgolia and the list of companies, provided by MNCCI.
As you may already know, the World Export Development Forum (WEDF) is an annual event that provides a platform to talk trade, do business, and drive development. This year's theme is "Diversify with Green Trade: Organic, Digital, Sustainable," and one of the possible components of WEDF is a B2B event focused on a specific sector that aligns with the host country's trade priorities. To determine whether a B2B event focused on the information and communication technology (ICT) sector can be organized during WEDF 2023, we need to better understand the capacity of the sector in Mongolia to sell digital services and products internationally. With regards to B2B, the priority is given to the companies, which have their promotional materials (websites, catalogues) in foreign languages and can communicate in English.
Please find attached the information about WEDF and the survey. If you have any questions or require further information about WEDF, please do not hesitate to contact us. We can also arrange a brief online meeting with our colleagues to discuss this matter. Also, please visit our WEDF Webpage to find more information about registration procedure, etc.
Click here to take the survey
Thank you in advance for your support!
Sincerely yours,
Olya
Ms. Olha Krylova
Communications and Events Consultant
Office of the Executive Director
International Trade Centre
Palais des Nations, 1211 Geneva 10, Switzerland
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel. +41 79 876 82 31
BCM NEWSWIRE SURVEY
Dear valued members,
The Business Council of Mongolia sincerely appreciates its members and always tries to progressively improve the services it provides. With that being said, we would appreciate it dearly if you could kindly take 2-3 minutes of your day to fill out the following survey on our Weekly Friday Newswire. We would like to receive your feedback to ameliorate the content of our newswire.
Please find the questionnaire here.
Thank you in advance for your kind participation. Your contribution is highly valuable to us.
ECONOMY
MONGOLIA'S FEB COAL OUTPUT JUMPS 214 PCT YOY; IRON ORE FALLS 63 PCT
Coal production of Mongolia came in at 4.98 million tonnes in February, surging 214.05% year on year but falling 16.57% month on month, showed data from the National Statistical Office of Mongolia.
During the first two months, the inland country produced a total 10.96 million tonnes of coal, up 203.12% from 2022.
Mongolia's iron ore production was 268,900 tonnes in February, down 63.41% on the year and 20.63% on the month.
Iron sand output was 166,400 tonnes in February, down 72.63% year on year and 27.34% from January, while iron concentrate production was 102,500 tonnes, falling 19.54% from a year ago and 6.65% month on month.
Production of iron ore in Mongolia totaled 607,700 tonnes in January-February, slumping 46.42% year on year.
Iron sand output was 395,400 tonnes last year, down 55.08% year on year, and iron concentrate production was 212,300 tonnes, down 16.38%.
Source: sxcoal.com
See also: Review: China Jan-Feb coking coal imports at 2nd highest, 83% from Mongolia and Russia
ITF SECRETARY-GENERAL VISITS MONGOLIA TO PRESENT URBAN MOBILITY STUDY FOR ULANBAATAR
ITF Secretary-General Young Tae Kim is leading the visit of an ITF delegation to Mongolia from 21 to 24 March. It is the Secretary-General’s first visit to the country since Mongolia joined the International Transport Forum in May 2020.
The mission includes high-level meetings and a conference to present the findings of an ITF study on decarbonising urban transport in Ulanbaatar, the country’s capital city.
Secretary-General Kim will have bilateral meetings with Mongolia’s Minister of Road and Transport Development, Byambatsogt Sandag and the Mayor of Ulanbaatar and Governor of the Capital, D. Sumiyabazar.
Secretary-General Kim will also meet with Mongolia’s State Secretary of Transport and regional representatives of Germany, the United Nations Development Programme (UNDP), the Asian Development Bank (ADB), the World Bank, the World Health Organization (WHO), the Korea International Cooperation Agency (KOICA) and the Japan International Cooperation Agency (JICA).
Source: ITF-OECD.org
DEVELOPMENT OF EMEELT LIGHT INDUSTRY PARK IS UNDERWAY
First Deputy Governor of the Capital City in charge of Economic and Infrastructure Issues J. Sandagsuren visited the leather processing plant “Buligaar LLC” on March 17. Mr. Sandagsuren exchanged views with people working in the leather industry on issues in this sector.
The meeting was attended by members of the Mongolian Association of Leather Industry (MALI) and representatives from Emeelt Light Industry Park, the Departments of Food and Agriculture, and the Department of Environment of the capital city, and the Water Supply and Sewerage Authority.
Executive Director of the Mongolian Association of Leather Industry T. Bayarsaikhan:
"The MALI has over 30 member enterprises that process leather and about 100 enterprises which produce finished products, such as gloves, leather clothes, bags, and small accessories. There are also more than 700 raw materials suppliers, registered with our association. According to our estimates, over four thousand people work in this sector…
Source: Montsame
TS.TULGA: 354 BUILDINGS IN UB ARE NOT EARTHQUAKE RESISTANT
Ts.Tulga, Chief Architect of Ulaanbaatar and Head of the Department of Urban Construction and Development, informed on March 17 about the evaluation of the earthquake resistance capacity of buildings in Ulaanbaatar and the measures to be implemented in the future.
He said, “There are 29,000 buildings in the city of Ulaanbaatar. Of these, 19,000 buildings were built before 2002 and 10,000 after. The city of Ulaanbaatar is located on an active earthquake zone. Recently, the Geophysical Research Institute concluded that there is a risk situation on the seismic faults around the city. Since 2010, the Department of Urban Development has assessed the earthquake resistance of buildings in Ulaanbaatar and made following the recommendations and regulations of the National Security Council of Mongolia. From 2010 to 2023, a total of 944 buildings were assessed for earthquake resistance. For public housing and public buildings built before 2002, certain funds have been allocated in the state budget for the assessment.
Source: The UB Post
See also: Consultative meeting held on "Building quality, safety and standards"
ADB INVESTMENT PROGRAM TO HELP SPUR GREEN AND INCLUSIVE AGRIBUSINESS IN MONGOLIA
The Asian Development Bank (ADB) today approved a $448 million investment program to support green and inclusive development of Mongolia’s aimags (provinces) and soums (subprovinces).
The Aimags and Soums Green Regional Development Investment Program will promote a transformative model for green territorial development and green urban–rural linkages. Secondary towns (aimag and soum centers) will become anchors of climate-smart agribusinesses that promote sustainable, resilient, and low-carbon rangeland management.
“The program pilots an integrated solution to Mongolia’s multidimensional challenges by balancing its territorial development, reducing migration to Ulaanbaatar, and regenerating rangeland natural resources for carbon capture,” said ADB Principal Portfolio Management Specialist Arnaud Heckmann. “The program is designed for replicability within and outside of Mongolia.”
Mongolia’s rangelands cover 82% of the country and are under severe threat due to livestock pressure on pastureland and unsustainable rangeland management practices. Climate change has reduced the productivity of fragile rangelands and has increasingly exposed herders to climate-related natural hazards.
Source: ADB
5,076 APARTMENTS TO BE PUT INTO USE THROUGH THE REDEVELOPMENT OF GER AREA IN 2023
A regular meeting of the capital city authorities was held on March 20. At the beginning of the meeting, the Mayor clarified about the progress of the road, bikeway, sidewalk, and bridge construction.
In 2022, 11 works were launched within the framework of traffic congestion reduction measures. In 2022-2023, there are 36 measures are being implemented with state and capital budget funds. 24 measures have been completed and 12 measures are under implementation. The Mayor reminded that the minimum width of the sidewalk should be 2.7 meters or more.
In 2023, 26 contractors will put 5,076 apartments into use in 10 locations in six districts of the capital city. Last year, 5,900 apartments were put into use as part of redevelopment, which is the highest performance. The Mayor highlighted the need for construction based on sub-centers and the need to increase the housing policy.
Source: GoGo News
MONGOLIA HAS RECEIVED OVER 76,000 FOREIGN TOURISTS IN 2023
Mongolia has welcomed a total of 76,068 foreign tourists so far this year, with Russia, China and South Korea being the biggest sources of its tourist arrivals, the country's Ministry of Environment and Tourism said Monday.
The Mongolian government has been taking measures to revive the pandemic-hit tourism sector. Particularly, it has exempted citizens of 34 countries from visa requirements for up to 30 days until the end of 2025.
The country has also classified 2023, 2024 and 2025 as "Years to Visit Mongolia," and is expected to organize more than 90 events in 2023 to promote tourism.
Mongolia has set a goal of welcoming at least 1 million foreign tourists and earning 1 billion U.S. dollars from tourism in the coming years.
The country received a total of 290,400 foreign tourists in 2022, earning 350 million dollars from the tourism sector.
Source: Xinhua
NEW AUSTRALIAN GAS POLICIES RATTLE ASIA - EDITORIAL
Whilst China does not appear to have expressed such strong concerns, it stands to reason that it would see the uncertainty in Australia as an additional reason to accelerate its efforts to reduce reliance on Western energy imports in favour of domestic sources, or imports from Central Asia and Mongolia.
Informed sources, however, believe that it is too early to draw this conclusion. First, the Australian government would face strong backlash if it were to intervene in long-term Asian supply contracts.
Second, the small size of the Australian market would mean LNG exports are likely to be delayed rather than cancelled altogether.
It could also provide a tailwind for alternative fuels development in Mongolia, particularly green hydrogen (as covered by Mongolia Weekly in March 2022).
Nonetheless, the investment freeze in Australia and international concerns are evidence that strong market intervention policies carry an equally strong degree of risk. For a country like Mongolia – looking to develop a broader export portfolio – it is worth paying attention.
Source: Mongolia Weekly
ILO: GREEN JOBS POTENTIAL IN GER AND NATURE TOURISM IN MONGOLIA - PAPER
The ILO as part of PAGE (Green Recovery) Mongolia’s activities conducted a green jobs potential assessment to identify opportunities for and barriers to the promotion of green jobs and decent work standards in the nature-based tourism sector in Mongolia. This policy brief captures the key findings and recommendations of the assessment.
Source: ILO
Read the Policy Brief
DETANGLING THE URBAN PARADOX IN ULAANBAATAR - EDITORIAL
As first-time visitors to Ulaanbaatar during winter, one of our first vivid experiences in the “world’s coldest capital” was the sudden thawing of the skin as one leaves the freezing outdoors and walks into overheated buildings. This paradox is just one of many that residents of Ulaanbaatar encounter on a daily basis.
The city’s exponential urban growth has fulfilled the promise of employment opportunities, higher education, and urban lifestyles for many migrants relocating from rural areas across Mongolia. Many Mongolians move to the capital in pursuit of economic opportunities – good jobs and competitive wages. Beyond these economic pull factors, potential migrants are drawn toward secondary benefits such as social infrastructure, safe living conditions, and leisure activities.
The spillover externalities of mass migration into the metropolis have created a harsh reality of dismal living conditions. Ulaanbaatar residents face increased respiratory illnesses from air pollution caused by high concentration of fine particles (PM 2.5), reaching 13 times higher than the World Health Organization’s annual quality assurance mark.
Source: The Diplomat
POLITICS
PARLIAMENT ACCEPTS PRESIDENT’S VETO ON THE LAW ON PROTECTING HUMAN RIGHTS ON SOCIAL MEDIA
At today's session, the State Great Khural discussed and resolved to approve the President’s veto over the Law on Protecting Human Rights on Social Media and the accompanying four laws, namely amendments to the Law on Communications, Law on Cyber Security, Law on Protecting Personal Information, and Law on Tax.
On January 20, 2023, the parliament approved the Law on Protecting Human Rights on Social Media and the President issued the veto on January 27, having considered that the law violates some articles of the Constitution of Mongolia as it had not ensured public participation and reflected suggestions of persons or entities whose legal interests are affected by the law.
Some MPs expressed their position that the President’s veto should be accepted as Mongolia is a democratic country that respects and protects human rights and freedom and 89.1 percent of the members in attendance voted in favor of the veto.
Source: Montsame
THE JOINT COOPERATION FRAMEWORK FOR MONGOLIA AND THE UN IN MONGOLIA FOR 2023-2027 ENTERS INTO FULL SWING
The Government of Mongolia and the United Nations in Mongolia held the first meeting of the Joint Steering Committee (JSC) which was tasked to provide strategic oversight and direction to the UN Sustainable Development Cooperation Framework (UNSDCF) implementation and ensure its alignment to evolving country contexts, national, regional and international development processes, mechanisms and goals.
The JSC monitors progress, challenges, risks, and opportunities, and steers the direction of implementation of the UNSDCF in the next five years.
The JSC meeting also reviewed the results of the previous the Cooperation Framework, known as UN Development Assistance Framework, implemented from 2017 to 2022.
The JSC members concluded that the UN development assistance carried out in the last six years was instrumental to support Mongolia’s development, supporting the Government’s Action Plan, Vision 2050 – Mongolia’s long-term development policies, increasing Mongolia’s contributions to the achievement of the SDGs, and strengthening Mongolia’s roles and commitment to the international communities.
Source: UN Mongolia, Montsame
PRESIDENT KHURELSUKH WORKED AT THE LOGISTICS CENTER IN ZAMYN-UUD SOUM OF DORNOGOBI PROVINCE
On February 14, the President of Mongolia, U. Khurelsukh worked in Zamyn-Uud soum of Dornogobi aimag. It is the main logistics center that handles about 70% of freight and 30% of passenger traffic across the state border and generates 15% of customs revenue.
The expansion and modernization of Zamyn-Uud infrastructure is being carried out in cooperation with the People’s Republic of China.The construction of the logistics center’s buildings, facilities and infrastructure began in 2019, and are 91% complete.
The following work is being implemented as part of the Construction of Zamyn-Uud Buildings, Facilities and Infrastructure project, under the government’s New Revival Policy:
• Construction of 30 buildings and facilities in the passenger-transport section;
• Construction of 28 buildings in the cargo section;
• Construction of a heavy-duty auto road;
• Installation of utility networks and communication lines;
• Construction of the external power supply line;
Source: Mongolian Mining Journal
L. OYUN-ERDENE: ELIMINATING CONGESTION AT THE BORDER CHECKPOINTS WILL INCREASE EXPORT CAPACITY BY 2 TO 3 TIMES
Mongolia’s Prime Minister Luvsannamsrain Oyun-Erdene gave a detailed interview to the Mongolian National Broadcaster (MNB) last night on 19th February about policies implemented and activities planned during his two-year tenure as head of the cabinet.
The Prime Minister spoke about the theft of coal, the fraud of the Development Bank, the fight against corruption and the possibilities of economic revival.
We are presenting the part of the Prime Minister’s interview where he talks about the border checkpoint revitalization measures reflected in the first chapter of the government’s New Revival Policy and how this will benefit the national economy. The Prime Minister was interviewed by MNB journalist R. Gandiimaa.
According to L. Oyun-Erdene, Mongolia seeks to transport its coal, copper, and other export goods and products by rail. For this purpose, the Gashuunsukhait railroad, which had been frozen for more than 10 years, was built and put into operation.
Source: Mongolian Mining Journal
DEVELOPMENT BANK CASE: ‘THERE WAS NO RECORD OF WHEN AND HOW 888 PROJECT LISTS WERE SUBMITTED’
The ad hoc committee responsible for reviewing the implementation of projects and programs financed by Development Bank of Mongolia, results, loan issuance and repayment progress, organized the third evidence analysis public hearing from March 13 to 17 at the State Palace.
At the hearing on March 16, three sets of loans granted through commercial banks was discussed, and 78 witnesses were called in connection with the projects. In specific, 888 production projects to support exports and replace imports were reviewed.
During the hearing, the analyst said, “A total of 888 lists were delivered by the Development Bank to commercial banks in April 2014. There was no record of which working group, when and how this list was submitted. Who submitted the list of 888 projects according to what criteria? Therefore, no conclusions can be drawn. The relevant ministry should have the information on what percentage of exports were added and what percentage of imports were replaced, but the ministry did not submit the information.”
Source: The UB Post
‘WE WILL DEMAND BILL SPONSORS TO MEET REQUIREMENTS OF LEGISLATION LAW WHEN SUBMITTING DRAFT LAWS’
During its plenary session on March 17, Parliament accepted the presidential veto on the Law on Protection of Human Rights on Social Media and four accompanying laws, namely amended Law on Communications, Law on Cyber Security, Law on Protecting Personal Information and Law on Taxation.
On January 20, Parliament approved the law and President U.Khurelsukh issued the veto on January 27, considering that the law violates some articles of the Constitution of Mongolia as it did not ensure public participation and reflect suggestions of citizens or entities whose legal interests are affected by the law.
Some parliamentarians expressed their position that the president’s veto should be accepted as Mongolia is a democratic country that respects and protects human rights and freedom.
During the session, Head of the Office of the President Ya.Sodbaatar highlighted that there is a need for legal regulation for social media in Mongolia, and that what law and how to regulate it is a matter of Parliament’s mandate.
Source: The UB Post
CELEBRATED POET ACCUSED OF COLLABORATING WITH FOREIGN INTELLIGENCE SERVICE
The Capital City Prosecutor's Office made a bill of particulars on the case of Ts.Khulan and transferred it to the court. The General Intelligence Agency of Mongolia conducted an investigation and made a bill of particulars on the case “Ts.Khulan agreed to cooperate with the intelligence service of a foreign country” according to the Article 19.4 of the Criminal Code and transferred it to the Criminal Court of First Instance of Sukhbaatar District.
Article 19.4 Illegal cooperation with foreign intelligence agency, agent
1. An action deliberately committed by a citizen of Mongolia who agrees to collaborate with foreign intelligence agency and collaborates; stealing, collection, storage, or delivery of data, documents and objects constituting a state or military secret with the view of transferring to a foreign organization or agent shall be punishable by imprisonment for a term of eight up to fifteen years.
Source: GoGo News
ULAANBAATAR’S INVESTMENT POLICY AND SOLUTIONS PRESENTED AT THE SUMMIT OF MONGOLIAN AND CHINESE ENTREPRENEURS
The Sustainable Investment Summit of Mongolian and Chinese investors was held in Ulaanbaatar on March 16-18. Governor of the capital city and Mayor of Ulaanbaatar D.Sumiyabazar participated and presented a speech on "Investment Policy and Solutions of Ulaanbaatar City."
Governor of the capital city and Mayor of Ulaanbaatar D.Sumiyabazar:
-Ulaanbaatar is a city of youth. About 67% of the population are young people under the age of 35. Also, more than 50% of Mongolia's population resides in Ulaanbaatar where about 70% of the total economy is produced. Therefore, the development of the city is not only a matter of the capital city but also the responsibility and leadership of Mongolia. In this context, we will put emphasis on actively developing friendly cooperation with the countries and cities of the world. For example, we are developing friendly relations with more than 10 cities in China, such as Beijing, Tianjin, Chongqing, and Chengdu.
Source: Mayor's Office, Montsame
See also: Photo News | Sustainable Investment Summit 2023
DECISIONS MADE AT CABINET SESSION, MARCH 22
During its regular session on March 22, 2023, the Cabinet made the following decisions:
- Accounts Linked to Escapers to be Frozen
- The Government of Mongolia has declared 2023 as the “Year to Combat Corruption" and started the five “W” operations, “Whistleblowing”, “Wiping-out”, “Wasp”, “Wealth”, and “Wide-open”, to combat corruption.
- Annual Inflation Rate is 12.2 Percent Nationwide and 12.1 Percent in Ulaanbaatar city as of February 2023.
- The Government is advised not to take any measures that may hinder economic activities, but to focus on increasing the foreign currency reserve in the future.
- Projects “Bus Rapid Transit” and “Revival of Selbe River” to be Launched in 2023
Source: Montsame
FOOD SUPPLY AND SECURITY: WHAT IF WORDS AND ACTIONS DON’T MATCH? - EDITORIAL
Statistics show that our country imports about 48 percent of its consumer food. Therefore, to reduce dependence on imports and expand domestic production, the national program “Food Supply and Security” has been implemented. In the framework of this, it is intended to create an opportunity to supply 19 main types of food within the country. These include eggs, rare vegetables, fruits, berries, milk, dairy products, and vegetable oils. Mongolia also set a goal to increase the cultivation of wheat, oil, and fodder plants, the main agricultural products, and become exporters. Spring planting will begin soon, and we will have a lot of work preparing to grow the food for next year.
In connection with the implementation of the “Food Supply and Security” national program, this spring Mongolia will probably sell more assets and work more proactively than in previous years.
Source: The UB Post
See also: Producers Appreciate Government Policy to Support National Food Industry
GUEST POST: CANADA AND MONGOLIA – THE ENHANCED DEVELOPMENT PARTNERSHIP THAT NEVER WAS - EDITORIAL
In the early 2010s, the Canadian government, under Conservative Prime Minister Stephen Harper, developed a special interest in Mongolia. In 2014, after a flurry of diplomatic visits, Canada designated Mongolia a “country of focus” for its development assistance. This decision placed Mongolia on Canada’s list of 25 countries in which it would concentrate its foreign aid and committed Canada to building a privileged development relationship with Mongolia. But major aid never really flowed, and any signs of an enhanced partnership had fizzled out by 2022. What went wrong?
Canada did not have a bilateral development program in Mongolia in 2014, when it decided to concentrate its aid there. It had only opened an embassy in Ulaanbaatar in 2008, at the urging of Canadian mining companies. It thus had limited experience and knowledge of development issues on the ground. As a result, it was poorly placed to quickly build up an aid program.
Source: Mongolia Focus
TRADE POLICY RETREATING? - EDITORIAL
So, in the Majlis podcast discussion there was mention that the aftermath of Russian aggression against Ukraine has led to many changes in Central Asia. Among those, any efforts at regional integration via the Eurasian Economic Union is likely stalled.
As I noted in the toot above, this got me thinking about possible implications for Mongolia. The dynamic of the structural similarities between Mongolia and Central Asia have been glaring this past year in terms of being caught between China and Russia, and the impact that Russian imperialism has had. Very soon after the Russian invasion of Ukraine, Bulgan B noted that some perceptions of Russian aggression were being shaped by perceptions of the preponderance of Asian faces in the Russian military.
But the above podcast discussion pushed me in a different direction in considering these structural similarities between Mongolia and Central Asia.
Source: Mongolia Focus
EXILED RUSSIANS BUILD NEW LIVES IN MONGOLIA - VIDEO
Hundreds of thousands of Russians fled their country after it announced conscription for its war in Ukraine, heading in large numbers to countries such as Turkey, Armenia, or Georgia. But for many living in the east of Russia, the nearest and easiest destination was Mongolia.
Source: RFE/RL
WHAT DOES XI JINPING’S THIRD TERM MEAN FOR CHINA-MONGOLIA RELATIONS? - EDITORIAL
When Xi Jinping was officially awarded a third term as president of the People’s Republic of China, after previously having altered the constitution to remove the two-term limit, it set him up to rule for 15 consecutive years – at least. Considering the growing insecurities surrounding Northeast Asia, what does Xi’s third term mean for China-Mongolia bilateral relations?
Since Xi first ascended to the presidency in 2013, international relations and global governance have faced a profound change. As competition between the United States and China has sharpened, the significance of maritime security and freedom of navigation has become even more apparent. For landlocked countries like Mongolia, each shift can have an impact on the economy, security, and foreign policy. For Ulaanbaatar, particularly because of its close proximity to Beijing, China’s policy toward Mongolia and Mongolia’s policy toward China is something to be considered for the long haul.
Source: The Diplomat
BUSINESS
IFC INVESTS IN MONGOLIA’S FIRST EVER GREEN BOND IN A BID TO SPUR CLIMATE-SMART INVESTMENTS
In a bid to spur green and renewable energy projects in Mongolia, IFC is investing in a green bond to be issued by the country's largest commercial financial institution, Khan Bank, which is the first-ever green bond to be issued in the country.
IFC is investing $15 million in the $60 million, five-year bond and the offering has attracted another $45 million from international investors, including $35 million from Dutch entrepreneurial development bank (FMO), and $10 million from MicroVest Capital Management (MicroVest). This investment will allow the bank to grow its climate portfolio by funding projects that support renewable energy, energy efficiency, green buildings, green mobility, and climate-smart agriculture in Mongolia. IFC's subscription will also contribute to improved sustainability of the country's financial market.
Mongolia is a country facing significant environmental challenges. Air pollution levels in its capital Ulaanbaatar are among the highest in the world, with coal and wood burning in homes and coal power plants all contributing to the pollution.
Source: IFC
See also: Pinsent Masons advises IFC on landmark investment in Mongolia’s first ever green bond issuance
HELPING FOREIGN ENTREPRENEURS UNDERSTAND TODAY’S MONGOLIAN BUSINESS ENVIRONMENT
The past couple days we have been assisting clients who have interest in entering the Mongolian market. but lack of guidance and reliable resources to do so was challenging them. If you are looking to expand your business in Mongolia, this post is for you.
Mongolia is a landlocked country established an industrial economy based mainly on mining and agricultural product processing. The government will keep looking into methods to diversify the economy, concentrating on new infrastructure projects, the development of the agriculture industry, and using materials and equipment made locally for major projects. In sectors including energy, fuel import and export, telecom, solar energy, wind turbines, and hydropower projects, the government provides international investors with opportunities.
So far, Mongolia has signed double taxation agreements with 26 nations and “Foreign Investment Protection and Promotion Agreements with 43 other nations.
Source: LehmanLaw Mongolia
ION ENERGY COMPLETES THIRD WATER WELL AT URGAKH NARAN PROJECT IN MONGOLIA
ION Energy Ltd. told investors that water well drilling at UNWH-03, the third water well at its 100%-owned Urgakh Naran project in Mongolia, has now been completed to a depth of 300 meters (m), with a six-inch tricone bit, four-inch steel slotted pipes and gravel packed.
Updating the market on the progress of the water well drilling, Mongolia's first lithium brine explorer and developer said its team has now deployed the Solinst pumps, bailers and various hydrogeological testing equipment on site, to ensure that brine samples will be collected from the three water wells for analysis in the coming week.
"Our team is very excited by progress that has already been made: completing UNWH-03's water well drilling at 300m,” ION Energy CEO and director Ali Haji said in a statement.
Toronto-based ION Energy is committed to exploring and developing Mongolia's lithium salars.
Source: Proactive Investors
MONGOLIA’S TOURISM STAKEHOLDERS CALL FOR MORE GOVERNMENT SUPPORT
More government support, in terms of marketing the country’s many draws and creation of more flight connections around the world, is needed to help grow Mongolia’s tourism industry, say tourism players interviewed at ITB Berlin.
“Not many people know about Mongolia. We do not have an organisation that helps us to market the country, such as what the Maldives – which has a marketing and PR agency – is doing. I think the government should invest in (creating) a marketing department for tourism,” opined Zundui Odbaya, CEO of Mongolian Tourism Company.
He added: “I also want to invite younger travellers to visit Mongolia and see what life is like here. One reason why we are exhibiting (as a standalone booth) is because we are advertising more extreme activities such as motorbike tours, horseback riding tours, and ATVs. We want to bring down the average age of travellers choosing Mongolia for their trips.”
Source: TTGAsia.com
TMK ENERGY ENTERS “MILESTONE” AGREEMENT WITH MONGOLIAN CONGLOMERATE
TMK Energy has struck a “milestone” cooperation and offtake agreement with Mongolian conglomerate Mongol Alt (MAK).
The agreement strengthens TMK’s partnership with MAK, which owns and manages the coal mining lease where TMK is conducting its initial pilot well program for its Gurvantes XXXV project.
MAK is one of Mongolia’s largest and most successful groups of private companies.
“Close cooperation between MAK and TMK will be mutually beneficial, allowing for significant efficiencies and the ability to better utilise the valuable resources of produced water and produced gas during from the pilot production wells in a manner that is both environmentally sensible and commercially attractive,” TMK Energy CEO Brendan Stats stated.
Under the deal, TMK will sell to MAK the electricity produced from the gas of TMK’s production wells. TMK has also agreed to provide MAK with the excess water it produces in the early stages of the operation of its pilot well program.
Source: The Market Herald, Proactive Investors
EU TO CONTINUE ITS PROJECT TO SUPPORT SME IN MONGOLIA
The European Union has decided to continue its project to support small and medium enterprises (SME) in Mongolia with the financing of another EUR 11 million. The EU Ambassador to Mongolia Ms. Axelle Nicaise informed about this at the Steering Committee Meeting of the “Building Crisis-Resilient SMEs in Mongolia” program, held on March 15 in Tuushin Hotel.
Ms. Axelle Nicaise, the EU Ambassador to Mongolia: Based on past experiences, we have decided to continue our project in order to facilitate the recovery of the Mongolian economy after the pandemic. When we travelled to Khuvsgul and Bayan-Ulgii aimags, we saw many people engage in business at home, such as sewing clothes and carpentry, and opportunities for businesses. So, we are moving to the next phase of the project.
According to Ms. Axelle Nicaise, this time, the main target of the project will be the micro business owners.
Source: Montsame
BASE IS KICKSTARTING ENERGY SAVINGS INSURANCE IN MONGOLIA
Partnering with XacBank and Tenger Insurance,BASE is starting the implementation of the Energy Savings Insurance (ESI) in Mongolia. After an initial rollout of the model in Latin America in 2015, its success motivated an expanded rollout in different areas of the world such as Europe, North Africa, and is now arriving in Central Asia.
Accelerating the deployment of cleaner energy technologies is vital for the region, for the sake of both the environment and public health, and different initiatives tried to create such momentum in this direction between 2010 and 2012. The Law on Air and the Law on Air Pollution Tax were enacted to respectively set emission limits, provide air quality monitoring and start charging fees to different categories of stakeholders for the air pollutants they emit. Building on that, in 2017, the National Program on Reduction of Air and Environment Pollution (NPRAEP) was adopted by the government of Mongolia in an effort to scale up efforts to improve air quality nationwide.
Source: Energy-Base.org
3 FINANCIAL COMPANIES HELPING MONGOLIA TO EMBRACE TECHNOLOGY
In Mongolia, the FinTech industry is in the early stages of development. The presence of a network association of FinTech investors, tech players, and industry participants are particularly important as they can represent industry interests, act as self-regulatory organizations, focus on the development of the sector and manage customer needs.
Here are 3 FinTech companies paving the way for a digital future:
GrapeCity Mongol LLC was established in 2000 and has been specializing in the development of banking and payment solution software and is a market leader in this sector. Of the 12 commercial banks in Mongolia, 11 use its software products, and 9 are operating on its Core Banking system.
ORDA is an investment platform bridging emerging and developed markets. It allows retail investors to invest like the top 1% in real estate, luxury, artwork and more by fractionalizing assets into accessible shares.
…
Source: IBSintelligence.com
ARANJIN RESOURCES PROVIDES SHAREHOLDER UPDATE
Aranjin Resources Ltd. provides a shareholder update on its Mongolian projects.
The Company had a relatively quiet fourth quarter in 2022 as it considered plans for an active drilling campaign in 2023 and it has been speaking to existing shareholders and strategic investors concerning potential capital solutions for the upcoming year.
As foreshadowed in the press releases during 2022, the focus of the Company has now moved to the Victory Copper Nickel Discovery.
With limited cash resources, Aranjin's Board of Directors has determined that this project provides the best near term potential for development, out of the three projects held by the Company. Once new capital has been secured in the coming months, the Company also plans to bid on some of the exciting new licences becoming available.
Sharga Copper Project
In September 2021, Aranjin acquired the Sharga Copper Project and shortly thereafter commenced preliminary drilling in 2021, continuing into early 2022.
Source: Yahoo Finance
MONGOLIA WINS BRONZE MEDAL IN 2023 IIHF ICE HOCKEY U18 ASIA AND OCEANIA CHAMPIONSHIP
The International Ice Hockey Federation and the Mongolian Ice Hockey Federation organized the “Ice Hockey U18 Asia and Oceania Championship” from March 11 to 17 in Ulaanbaatar at the Steppe Arena. Six teams from Mongolia, Uzbekistan, Turkmenistan, United Arab Emirates, Iran, and Thailand took part in this tournament.
The Uzbekistani team won the gold medal with five wins, the Turkmenistan team took second place with four wins and one loss, and the Mongolian team took third place with three wins and two losses. UAE came fourth with six points ahead of Thailand, whose only victory was against Iran. The Iranians found this tournament tough, scoring just four goals as they lost all five games.
Rustamkhonov Jasurbek, who scored 26 goals, number 88 of Uzbekistan, was named the “Best Forward” of the tournament, while E.Ariunbileg, number four of Mongolia, was named the “Best Defender”.
Source: The UB Post
"YEAR OF THE TIGER PROTAGONISTS TAKE CENTER STAGE IN 'MINE GER'" - EDITORIAL
As the Mongolian New Year approaches, the Year of the Tiger comes to a close and the Year of the Rabbit begins. The mining industry in Mongolia can be seen as one large family, with the key players of the Year of the Tiger now taking a break in the home of this great house or MINE GER. Looking towards the future, Mining Insight has highlighted the upcoming trends and developments in the industry, offering insight to its readers.
Source: Mining Insight
RIO’S BIG BOLD BET ON COPPER IN MONGOLIA - EDITORIAL
Rio Tinto executive Bold Baatar is telling a story about how his mother saw him on Mongolian television and cried. He is at Chinggis Khaan Airport, where about 850 workers a day fly in and out of the company’s Oyu Tolgoi (OT) mine. The Chinese border is due south, the Russian border due north and Rio Tinto is in the middle.
The mining giant owns 66 per cent of OT and Mongolia owns the rest. China buys the copper concentrate for its smelters, and contractors in Mongolia supply the mine with Russian diesel and other vital inputs.
The hopes of Mongolia ride on OT, as well as $US15 billion ($22 billion) of Rio money. The company hopes to double copper production to meet some of the demand from electrification across the globe.
Baatar is in charge of the Rio copper division and therefore OT, where in its construction days thousands of Mongolian and Chinese workers had to be separated to stop them brawling.
Source: Australian Financial Review
GLOBAL AND REGIONAL NEWS
THE FED LIFTS RATES BY A QUARTER POINT AS BANKING TURMOIL COMPLICATES INFLATION FIGHT
The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability.
Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector.
Still, Federal Reserve Chairman Jerome Powell and policymakers entered their second policymaking meeting of the year surrounded by an unusual level of uncertainty as the landscape surrounding the financial system continues to shift.
The central bank’s mission in battling inflation became much more difficult over the past few weeks as the collapse of several banks meant the Fed had to balance a potential financial crisis alongside high inflation and a tight labor market.
In a statement released at the conclusion of the meeting, Fed officials acknowledged that recent financial market turmoil is weighing on inflation and the economy, though they expressed confidence in the overall system.
Source: CNN
See also: Federal Reserve issues FOMC statement
Gold drifts higher as Fed hints at rate-hike pause
THE WORLD SAW A RECORD 9.6 PCT GROWTH IN RENEWABLES IN 2022
By the end of 2022, global renewable generation capacity amounted to 3,372 gigawatts (GW), growing the stock of renewable power by 295 GW or 9.6%, according to the International Renewable Energy Agency ( IRENA). Renewables produced an overwhelming 83% of all power capacity added last year. Renewable Capacity Statistics 2023, released today by IRENA, shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fuels. While many countries increased their renewable capacity in 2022, the significant growth of renewables is concentrated in Asia, the US, and Europe. IRENA reports that almost half of all new capacity in 2022 was added in Asia, resulting in a total of 1.63 terawatts (TW) of renewable capacity by 2022. China was the largest contributor, adding 141 GW to Asia’s new capacity. Renewables in Europe and North America grew by 57.3 GW and 29.1 GW, respectively. Africa saw an increase of 2.7 GW, slightly above 2021. Source: Eletrek.co
AT1 BONDS AND CREDIT SUISSE: 4 THINGS TO KNOW
The historic deal to save Credit Suisse by selling it to UBS has proved a test of the bank capital reforms put in place after the global financial crisis. One safeguard in particular is now under scrutiny.
Additional Tier 1 (AT1) bonds are designed to absorb losses. While this much is certain, the order in which they have been wiped out at Credit Suisse has become a point of controversy.
Here are four things to know about AT1 bonds.
What are AT1 bonds?
AT1 bonds are a kind of bond, or debt, issued by banks to investors.
When a financial institution fails, AT1 bonds rank lower in the order of claims than ordinary bonds. This makes them a riskier investment.
If a bank's capital ratio falls below a predetermined level, or if regulators intervene, AT1 bonds can be wiped out or converted into stock as a way to bolster the institution against a collapse.
Source: Nikkei Asia, CNBC
CHINA'S JAN-FEB COAL IMPORTS FROM RUSSIA RISE, AUSTRALIA SUPPLY RESUMES
China's average daily coal imports from Russia rose in the first two months of 2023 compared with December, boosted by strong restocking demand as Beijing lifted its zero-COVID regime, but logistics bottlenecks still capped shipments. Arrivals of Russian coal reached 14.8 million tonnes, or 250,892 tonnes per day, during January and February, data from the General Administration of Customs showed on Monday, making Russia China's second-biggest coal supplier. That compares to 222,346 tonnes per day in December and 110,470 tonnes per day over the first two months in 2022. China sharply increased coal imports from Russia after its invasion of Ukraine as Western countries shunned trade with Moscow, which pushed down Russian coal prices and attracted buyers that did not implement sanctions. But transport infrastructure limitations in Russia have hampered coal exports to China since October and traders expect the situation to continue. Source: Reuters
PERU EXPECTS 74 MINING PROJECTS TO BECOME OPERATIVE IN 2023
The Peruvian Ministry of Energy and Mines (Minem) announced that 2023 will see the development of 74 mining projects across 17 departments for a total investment of $596 million. “Exploration is fundamental for the development of the mining industry. It constitutes the first step of Peru’s most important economic activity as it allows the discovery of new deposits, as well as the extension of the life of operating mines, all of which generates resources for the benefit of the country,” the ministry said in a media statement. According to the government agency, 30 of the 74 projects have recently become operative or are about to reach that phase as they already have all the required permits. These projects represent an investment of $134 million, or 22.5% of the 2023 portfolio of mining exploration projects. Meanwhile, 17 projects, accounting for $136 million or 22.7% of the portfolio, are in the evaluation stage for exploration authorization. Source: Mining.com
SRI LANKA PRESIDENT DECLARES 'NEW JOURNEY' AS FIRST IMF CASH ARRIVES
Sri Lankan President Ranil Wickremesinghe on Wednesday told parliament that the country is "starting a new journey" after securing a nearly $3 billion bailout from the International Monetary Fund, vowing to push through reforms and address corruption. In a speech, he said the IMF's Extended Fund Facility will "restore Sri Lanka's international recognition, ensure the country is not bankrupt and help banks regain international recognition," according to a readout from his media office. "This will create opportunities for low-interest credit, restore foreign investors' confidence and lay the foundation for a strong new economy." Wickremesinghe said the first disbursement of about $330 million has been received. The IMF board's decision to approve the bailout on Monday in Washington followed months of hard negotiations between Sri Lanka and its creditors, particularly China, amid the South Asian island's worst economic crisis since independence in 1948. Source: Nikkei Asia, CNBC
PEACE PLANS AND PIPELINES: WHAT CAME OUT OF THE PUTIN-XI TALKS?
Russian President Vladimir Putin hosted Chinese President Xi Jinping for a two-day summit in Moscow this week. Here's a look at the key outcomes.
The summit produced 14 agreements on topics from soybeans to atomic energy, but it did not yield the big prize Russia wants: a deal on a new gas pipeline, Power of Siberia 2, to pump an extra 50 billion cubic metres (bcm) of Russian gas annually to China via Mongolia. Putin said "agreements with Mongolia" had been reached but Deputy Prime Minister Alexander Novak made clear it was not a done deal, saying instructions had been given to gas giant Gazprom to clinch a contract as soon as possible. There are two likely sticking points: who will build the 2,600 km pipeline and how the gas will be priced.
Source: Reuters
CHINA EXPECTED TO ACCOUNT FOR 40 PCT OF THIS YEAR'S OIL DEMAND RECOVERY
China is expected to account for around 40% of the increase in global oil demand this year as its economy emerges from strict lockdowns, but the increased use will not take prices back to 2022 levels, consultancy Wood Mackenzie said on Thursday.
In a base-case scenario, China's economy will grow by 5.5% this year after it lifted its COVID containment strategy, WoodMac said in a report.
This would equate to 1 million barrels per day (bpd) of a 2.6 mln bpd increase in global oil demand this year.
A high-growth scenario, under which China's GDP rises by 7%, would add a further 400,000 bpd of Chinese demand, the report said.
This year's average price of Brent crude oil , however, would remain below the $99/bbl average seen in 2022 as "markets have now adapted to the chaos brought about by Russia's war on Ukraine," the report said.
Source: Reuters
See also:
OPEC+ LIKELY TO STICK TO ITS GUNS DESPITE PRICE SLUMP, DELEGATES SAY
OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the producer group told Reuters. Oil prices hit 15-month lows on Monday in response to the banking crisis that followed the collapse of two U.S. lenders and resulted in Credit Suisse being rescued by Switzerland's biggest bank UBS. Brent crude was trading around $75 a barrel on Wednesday morning. Last October OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, agreed steep output cuts of 2 million bpd from November until the end of 2023 despite major consumers calling for increases to production. That decision helped to push Brent close to $100 a barrel, but prices have come under pressure since then as rising interest rates to combat high inflation threaten to stymie oil demand growth. Source: Reuters
CHILE TO LIMIT COPPER ROYALTY BILL AFTER INDUSTRY COMPLAINTS -MINISTER
Chile’s government plans to limit a long-running mining royalty bill amid criticism of its impact on the industry’s competitiveness, Finance Minister Mario Marcel said on Tuesday.
Speaking to the Senate treasury committee, Marcel said that certain limits that do not alter the bill can be modified during the legislative stage.
“One of them is to make up start-up expenses as a cost for the calculation of the adjusted mining operational taxable income,” Marcel said, adding this change would leave the mining operational income calculation “as it currently works with the specific tax.”
Another adjustment would be to establish a limit to the potential tax burden for the combination of various taxes, which would give “greater security or predictability to collection.”
Additionally, Marcel said companies with operating losses would be exempt from the ad valorem component and “when there is a very low or close to negative profitability, the same ad valorem component is also adjusted.”
Source: Reuters
BCM SUBMITS POLICY PAPER
The Business Council of Mongolia (BCM) Secretariat has submitted a Policy Paper to the Government of Mongolia on 13 October 2022.
BCM Secretariat has submitted summary of issues and proposed solutions on newly adopted Corporate Income Tax law drafted by the Chair and Vice-Chairs of the Tax & Regulatory Working group (lead by Ms. Kh.Amarjargal, Country Director Mongolia-Rio Tinto, Mr.B.Battushig - Founding Partner of DB>S LLP and Mr.R.Khishignemekh -Senior Partner of Ernest and Young TMZ).
The 42 pages of findings and recommendations was submitted to the Cabinet Secretariat of the Government of Mongolia, to the Minister of Finance, to the Minister of Mining and Heavy Industry; to Secretariat of the State Great Khural (Parliament); Standing Committee on the Economic Affairs; Ministry of Justice and Internal Affairs; Standing Committee on the Budget; Economy and Development Ministry. In collaboration with Mongolian National Chamber of Commerce and Industry, American Chamber of Commerce in Mongolia, Ulaanbaatar Chamber of Commerce and Mongolian National Association.
BCM would like to thank Mongolian National Chamber of Commerce and Industry, American Chamber of Commerce in Mongolia, Ulaanbaatar Chamber of Commerce and Mongolian National Mining Association and BCM Regulatory & Tax Working Group for their efforts to protect legal interests and rights of business entities in Mongolia.
Source: BCM
THE BCM APPOINTS RAPHAËL GOUÉ AS OFFICIAL BCM REPRESENTATIVE IN EUROPE
The Business Council of Mongolia is pleased to announce Mr. Raphaël Goué as an official BCM Representative in Europe.
Raphaël Goué is an expert in energy and banking, having spent more than 12 years in Asia as well as being involved in Europe-Asia cross-border projects since the mid-90s, with a focus on financial services, energy and telecommunications.
Mr. Goué has a wealth of experience in supporting global financial institutions and energy companies in their strategies in Asia, as well their development and M&A. He has previously held various positions in organizations such as Société Générale, Vivendi Universal, Booz & Co and Capital One in Europe, Africa and Asia. As a senior advisor of the global retail banking association EFMA, Raphaël has been supporting the development of banking’s leading association in selected Asian markets, and supporting EFMA in the fintech sector in Europe.
He holds an engineering degree from the École Nationale Supérieure de Géologie in Nancy, France, a master in material science from École de Mines de Nancy, and a MBA from HEC (Paris) he finalized at the Columbia Business School (New York).
The BCM is looking forward to expanding its reach to Europe with Mr. Goué’s leadership and assistance.
SDG INVESTOR MAPPING PROJECT SURVEY - IDENTIFYING BUSINESS CASES FOR INVESTMENT OPPORTUNITIES
The objective of this template is to collect data on businesses aligned with SDGs, and if selected, your provided data will be compiled into SDG Investor Map datasheet which will be eventually uploaded onto Global SDG Investor Platform managed by UNDP SDG Impact. The outcomes of the data will be aggregated to gather insights that will be presented in the form of a report along with other secondary research that we have conducted. Thus, we would like to seek your permission to use your data for business research and documentation purposes. For any individual information from your business, due permission will be sought before the publishing of the report. If you have any questions or concerns, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. and This email address is being protected from spambots. You need JavaScript enabled to view it..
UNICEF: GUIDANCE FOR EMPLOYERS ON FLEXIBLE WORK ARRANGEMENTS AND OTHER GOOD WORKPLACE PRACTICES IN THE CONTEXT OF COVID-19
A family friendly workplace or employer is one whose policies and practices make it possible for employees and/or workers to more easily achieving work-life balance, and to fulfil both their work and family obligations. These policies may include, but are not limited to, childcare, breastfeeding rooms, flexible work arrangements, paid leave, safe transport, parenting education and so on. In Mongolia and various other countries, authorities have enforced kindergarten- and school closure policies as part of the preparedness and response to contain the COVID-19 epidemic. In addition to the impacts on children’s education, there are concerns about children’s protection and well-being as children are left alone or without adequate care as many parents still need to go to work. COVID-19 may also have negative effects on mental health and wellbeing of patients (if any), caregivers, children and adolescents and the public, such as experiencing fear of the consequences of infection with a new virus, and triggering stigma. Those placed in quarantine (or self-isolated) may experience boredom, loneliness, and anger. By promoting flexible working arrangements such as adjusted working hours, working from home and/or support childcare, your employees will be in better position to address any childcare challenges and not be distracted by concerns about their children’s safety and wellbeing at home. Click here to view in English. Click here to view in Mongolian.
UNICEF: CALL FOR ACTIONS OF THE PRIVATE SECTOR TO REDUCE CHILDREN’S EXPOSURE TO AIR POLLUTION IN UB
Too many children are at risk of dying in UB due to air pollution each year. In addition to longer-term measures to reduce overall levels of air pollution in Ulaanbaatar, UNICEF recommends that companies address some of their CSR activities in the following ways:
- Provision of air purifiers to kindergartens, schools and clinics. Children spend a considerable amount of their time in school. Air purification systems are demonstrated to be effective in reducing air pollution levels within a home or classroom. Recent innovations have made these more affordable, durable and effective. Every classroom should have an air purifier.
- Provision of electric heaters to kindergartens, schools and clinics. Electric heaters can help to reduce ambient air pollution. Reducing financial barriers to access can also help improve use of electric heaters.
- Improved construction and insulation in kindergartens, schools and clinics. This can help reduce the amount of air pollution that enters facilities where children spend most of their time. It also saves considerably on heating costs. Studies show some improvements can decrease air exchange by up to 40%.
- Provision of air pollution monitoring devices in kindergartens, schools and clinics. Monitoring devices are often a first, major step to understanding one’s own risk to air pollution. It can not only inform improved practices to reduce exposure, but it is also an effective mechanism for communities to better understand what is causing air pollution, and when it is particularly harmful.
- Improved awareness and behaviour-change campaigns. Low awareness amongst communities about the impacts of air pollution on child health and how to respond is a key barrier to addressing the air pollution crisis. There is a need to influence policymakers, relevant government institutions, businesses, CSOs, development partners, and the general public (including families and children) about the risks that air pollution poses to their health, as well as provide guidance and recommendations on various ways to address some of the most immediate threats.
These actions will reduce children’s exposure to air pollution, safeguarding them from the worst impacts at the same time as building momentum and creating an enabling environment for longer plans that reduce air pollution. UNICEF will provide guidance on these recommendations where possible. UNICEF can also help facilitate connections between actors, agencies and institutions, including schools/ clinics where children are particularly affected. However, in order to maximize efficiency, these projects should be planned, developed, implemented and monitored by the private sector company involved. Nor will any funding go through UNICEF. This helps enhance accountability, and allows private sector donors to be more actively involved in the solution of directly supporting children in UB to breathe cleaner, healthier air.
For more information and guidance, please contact UNICEF for (Amy Wickham, This email address is being protected from spambots. You need JavaScript enabled to view it.; and Sunjidmaa Jamba, This email address is being protected from spambots. You need JavaScript enabled to view it.)
BCM GUIDELINE FOR COMPANIES TO COMBAT AIR POLLUTION
Purpose: This Guideline document is to help CEOs and business leaders quickly identify possible actions they can implement in their organizations against air pollution.
Resources for information on Air Pollution
Specific ACTIONS that companies can take NOW:
Educate employees about air pollution; invite guest speakers; encourage employees to share information with friends and family; discuss possible solutions with employees
- Possible topics: damages and causes of air pollution, protection measures, energy consumption & efficiency; indoor air quality (smoking indoors); breastfeeding & healthy diet; vehicle idling; vehicle maintenance;
Work environment:
- Improve energy efficiency in building/office to reduce energy consumption;
- Plant & maintain trees; install air cleansing plants in the office;
- Install HEPA air filter and air purifiers to tackle indoor air pollution (For an affordable solution, visit http://smartairfilters.com/mn/en/;
- Install monitoring devices;
- Smart Air Mongolia masks
Work activities:
- Ensure company vehicles are well maintained to reduce pollution emissions;
- Drivers/employees instructed to not idle & to turn off vehicle engine when not moving;
- Implement carpooling activities;
- In polluted air, ensure employees wear pollution masks;
Social responsibility:
- Focus CSR (corporate social responsibility) initiatives to tackle air pollution
- Tackle air pollution in UB: UNICEF recommends focusing on areas where children are especially affected, and where urgent interventions need to be put in place to protect them as soon as possible. These include the provision of air filtration systems and electric heaters in kindergartens and schools in some of the worst-affected regions. For more information and guidance, please contact UNICEF for (Nicholas Rees, This email address is being protected from spambots. You need JavaScript enabled to view it.; and Sunjidmaa, This email address is being protected from spambots. You need JavaScript enabled to view it.);
- Run marketing/PR campaigns & contests that raise awareness about air pollution.
List of distributors for pollution masks:
- BRB – 70119967, 99658555
- BOX shop – 99062387, 75557007, 90878111 – Facebook: RZ утааны маск
- CATD LLC – 11327308, 99114346
- Mmarket – 75758001 – Facebook: Утааны Маск
- MONOS Pharmacy – 99190858
- Seven summits – 11317923
- 3M Mongolia Premier Service - 9400-3088, 9910-3335
- Utaanii Mask – 99906643 – Facebook: Утааны маск + Агаар шүүгч
- Cycling World Mongolia LLC authorized distributor of RESPRO pollution masks- 77110444
MEMBER-TO-MEMBER SPECIAL OFFERS & BENEFITS:
- Orchuulga 24 is providing a 15% discount on written translation services to BCM Members - Ombol LLC is offering free Hepatitis C medication to employees of BCM member organizations, provided that the individual pays into state health insurance. ECONOMIC INDICATORS
HISTORIC ANNUAL INFLATION
Year 2009 *4.2% [source: NSOM]
Year 2010 *13.0% [source: NSOM]
Year 2011 *10.2% [source: NSOM]
Year 2012 *14.0% [source: NSOM]
Year 2013 *12.5% [source: NSOM]
Year 2014 *11.0% [source: NSOM]
Year 2015 *1.9% [source: NSOM]
Year 2016 *1.1% [source: NSOM]
Year 2017 *6.4% [source: NSOM]
Year 2018 *8.1% [source: NSOM]
Year 2019 *5.2% [source: NSOM]
Year 2020 *2.3% [source: NSOM]
Year 2019 *13.4% [source: NSOM]
*Year-over-year (y-o-y), nationwide
CENTRAL BANK POLICY LOAN RATE
December 31, 2008 - 9.75% [source: IMF]
March 11, 2009 - 14.00% [source: IMF]
May 12, 2009 - 12.75% [source: IMF]
June 12, 2009 - 11.50% [source: IMF]
September 30, 2009 - 10.00% [source: IMF]
May 12, 2010 - 11.00% [source: IMF]
April 28, 2011 - 11.50% [source: IMF]
August 25, 2011 - 11.75% [source: IMF]
October 25, 2011 - 12.25% [source: IMF]
March 19, 2012 - 12.75% [source: Mongol Bank]
April 18, 2012 - 13.25% [source: Mongol Bank]
January 25, 2013 - 12.50% [source: Mongol Bank]
April 8, 2013 - 11.50% [source: Mongol Bank]
June 25, 2013 - 10.50% [source: Mongol Bank]
July 30, 2014 - 12.00% [source: Mongol Bank]
January 14, 2015 - 13.00% [source: Mongol Bank]
January 14, 2016 - 12.00% [source: Mongol Bank]
May 6, 2016 - 10.50% [source: Mongol Bank]
August 18, 2016 - 15.00% [source: Mongol Bank]
December 19, 2016 - 14.00% [source: Mongol Bank]
June 15, 2017 - 12.00% [source: Mongol Bank]
December 22, 2017 - 11.00% [source: Mongol Bank]
March 23, 2018 - 10.00% [source: Mongol Bank]
November 27, 2018 - 11.00% [source: Mongol Bank]
March 11, 2019 - 10.00% [source: Mongol Bank]
April 13, 2020 - 9.00% [source: Mongol Bank]
September 14, 2020 - 8.00% [source: Mongol Bank]
November 11, 2020 - 6.00% [source: Mongol Bank]
January 1, 2022 - 6.50% [source: Mongol Bank]
SOVEREIGN CREDIT RATING
| Moody’s |
Fitch |
S&P |
B3 – stable – 16 Mar 2021
B3 – negative – 8 May 2020
B3 – stable – 18 Jan 2018
Caa1 – stable – 30 Mar 2017
Caa1 – neg. watch – 15 Feb 2017
Caa1 – stable – 18 Nov 2016 |
B – stable – 9 Jul 2018
B- – positive – 17 Nov 2017
B- – stable – 22 Nov 2016
B – stable – 24 Nov 2015
B+ – negative – 13 Dec 2013 |
B – stable – 10 Nov 2018
B- – stable – 19 Aug 2016
B – stable – 03 Nov 2015
B+ – neg. – 29 Apr 2015 |
CURRENCY RATES – 23 March 2023
| Currency |
|
|
Rate |
| U.S. dollar |
USD |
|
3,526.34 |
| Euro |
EUR |
|
3,845.83 |
| Japanese yen |
JPY |
|
26.93 |
| British pound |
GBP |
|
4,341.10 |
| Hong Kong Dollar |
HKD |
|
449.26 |
| Russian ruble |
RUB |
|
46.17 |
| Chinese yuan |
CNY |
|
516.50 |
| South Korean won |
KRW |
|
2.75 |
|
