Business Council of Mongolia
EXECUTIVE COMMITTEE
Batsuren BATTUSHIG
Partner, DB>S LLP
Mr.Battushig is a founding partner at DB & GTS LLP. A preeminent legal advisory firm in Mongolia with top-tier ranking from Chambers and Legal 500. Mr.Battushig regularly advises on capital market, project finance, mining and concessional projects. Notable projects he spearheaded include international bond offerings of the Government of Mongolia and various other domestic legal entities, the 55MW Sainshand Salkhin Park project, and the New Ulaanbaatar International Airport’s concession project.
Mr.Battushig is an active member of the BCM’s mining committee where he assists the committee in providing research assistance such as by comparing minerals related laws and regulations from various jurisdictions. He is a board member at the Mongolian Young Leaders Network and Nest Education IT School.
Mr.Battushig obtained his Juris Doctorate degree from the Chicago-Kent College of Law in the US, and is a member of the Illinois state bar. He is also registered as a foreign admitted attorney with the Ministry of Justice and Home Affairs.
Magvan BOLD
Chief Executive Officer, Mongolia Green Finance Corporation
Mr.Bold is a practitioner with 33 years of practical expertise in banking, financial, economic, social policy and institutional transformation. Top level executive of financial institutions, including central bank, commercial bank, leasing and insurance companies in Mongolia, a microfinance company in China and 5 years of working experience in global development organizations including the World Bank and the International Monetary Fund.
Internationally acknowledged banking leader in advancing sustainable economic, social and environmental development. Active promoter of inclusive finance and values of triple-bottom line mission, Planet, People and Prosperity. Leading the implementation of Sustainable Finance Initiatives in Asia region. XacBank became the first private entity from a developing country to receive accreditation by the Green Climate Fund (GCF) in 2016.
Bayanjargal BYAMBASAIKHAN
Managing Partner, NovaTerra
Mr.Byambasaikhan is the partner at NovaTerra LLC, a UB based investment and project management firm, he co-founded in 2013. NovaTerra develops clean energy and energy efficient real estate projects, and advises domestic and international clients in financing complex deals.
Mr.Byambasaikhan is a business executive specialized in energy, infrastructure, mining investments. In 2015-2016, he was the chief executive of Erdenes Mongol, Mongolia's sovereign wealth management company where he chaired multiple mining company boards and was the director of Oyu Tolgoi LLC. In 2015, he was the Government’s chief negotiator who resolved the five-year dispute between the Government of Mongolia and Rio Tinto, which led to signing a US$4.4bln project finance deal with 20 leading banks to finance Oyu Tolgoi’s underground mine construction estimated to cost US$6bln.
From 2010-2013, Mr.Byambasaikhan served as the chief executive and managing director of Newcom, a Mongolian technology investor where he managed and built Clean Energy ($120mln), the first wind farm/IPP in Mongolia.
From 2004-2010, he was an energy banker with the Asian Development Bank, where he financed power and energy efficiency transactions in Central Asia, including the region’s largest CCGT power plant ($1.3bln) in Uzbekistan.
He currently chairs the Green Buildings Council of Mongolia and is the vice president of the Mongolian Archery Association. He is a supporter and director of the Arts Council of Mongolia and Zorig Foundation USA. He also serves as the honorary consul of South Africa in Mongolia.
Mr.Byambasaikhan has keen interest in regional economic and infrastructure connectivity and is a believer in clean energy development. In 2014, he was recognized as a Young Global Leader by the World Economic Forum. Mr.Byambasaikhan is the graduate of the National University of Mongolia and the George Washington University.
Sengee ENKH-AMGALAN
Director, Mergen Investments LLC
Mr.Enkh-Amgalan is the Director at Mergen Investments LLC. Prior to that he was the CEO of Petrovis Oil LLC for 4 years, fuel import and distribution holding company. He held executive positions in mining and energy sectors as Advisor to the Mining Minister of Mongolia, President and CEO of SouthGobi Resources listed at Toronto and HKEX, and Vice President of Mongolian Mining Corporation listed at HKEX and had an outstanding career with MCS Group. He led the successful completion of the first Mongolian commercial-scale windfarm “Salkhit” as the CEO of Clean Energy LLC.
Mr.Enkh-Amgalan is involved in the business community with Board responsibilities at the BCM and member of the CEO Club. He was the Founding President of Ambassadors for Development, US State Alumni Association.
Sengee ENKH-AMGALAN
Director, Mergen Investments LLC
Mr.Enkh-Amgalan is the Director at Mergen Investments LLC. Prior to that he was the CEO of Petrovis Oil LLC for 4 years, fuel import and distribution holding company. He held executive positions in mining and energy sectors as Advisor to the Mining Minister of Mongolia, President and CEO of SouthGobi Resources listed at Toronto and HKEX, and Vice President of Mongolian Mining Corporation listed at HKEX and had an outstanding career with MCS Group. He led the successful completion of the first Mongolian commercial-scale windfarm “Salkhit” as the CEO of Clean Energy LLC.
Mr.Enkh-Amgalan is involved in the business community with Board responsibilities at the BCM and member of the CEO Club. He was the Founding President of Ambassadors for Development, US State Alumni Association.
Dugar JARGALSAIKHAN
Chairman, Gund Investment LLC
Mr.Jargalsaikhan was appointed as member of the Executive Committee of the Business Council of Mongolia and Chair of Economic Freedom and Competitiveness Working Group on 16 January 2019.
Mr.Jargalsaikhan is the Chairman of Gund Investment LLC and the founder at Young Researcher Support Foundation. Gund Investment LLC is engaged in organization healthcare solutions service, mining, real estate management and financial services; and domestication of disruptive technology businesses. TUS Solution LLC offers tailorable unified system solution that allows creating real time synchronized data for business management and digital transformation.
Before entering the private sector in 2005, Mr.Jargalsaikhan held senior leadership positions in the Mineral Resource Authority, the Ministry of Heavy Industry, and the Ministry of Trade and Industry.
He is a Honorary Professor of MUST, Chairman of Young Researchers Support Foundation, Member of Asia Business Council; and President of Society of Mineral Economics and Management of Mongolia.
JON LYONS
Vice President of Regulatory Affairs and Strategy, Erdene Resource Development Corp.
Mr.LYONS was appointed as member of the Board Directors of the Business Council of Mongolia in 2019 and became a co-chair of the BCM’s Resources and Environment Working Group in 2020.
He is currently the Vice President of Regulatory Affairs and Strategy at Erdene Resource Development Corp. Jon was previously the Country Representative for Global Green Growth Institute in Mongolia.
He also served as Co-Chair for Energy & Environment Working Group for BCM, where the working group was recognized as the Best Working Group for 2016.
Enkhtsetseg ORCHLON
Executive Board Director, Newcom Group
Mr.ORCHLON is an Executive Board Director and Chief Investment Officer at Newcom Group, one of Mongolia’s largest investment holding companies with interests across telco, real estate, energy, and infrastructure, responsible for providing oversight and guidance on the group’s overall strategic direction and investments.
Mr.Orchlon was also the Chief Executive Officer of Clean Energy Asia LLC, a joint venture between Mongolia’s investment conglomerate Newcom Group and Japan’s SB Energy (a subsidiary of Softbank Group). Clean Energy Asia is one of Mongolia’s largest renewable energy developers currently operating the 50MW Tsetsii Wind Farm in the Southgobi aimag.
Mr.Orchlon is a graduate of New York University with a degree in Economics. Prior to joining Newcom, Mr. Orchlon was a Principal Advisor at Rio Tinto Copper and Coal Group overseeing the investment portfolio and cash generation for the Oyu Tolgoi Copper and Gold mine.
Mr.Orchlon is also an active advocate in improving Mongolia’s business climate and is an elected member of the Board of Directors of the Business Council of Mongolia. Mr.Orchlon was also recognized as one of the 30 leaders in Industry, Manufacturing and Energy in Forbes Asia’s 2019 30 Under 30 Asia list for his contributions in developing the renewable energy industry in Mongolia.
Tsevegmid TUMENTSOGT
Chief Executive Officer, Erdenes Oyu Tolgoi LLC
Mr.TUMENTSOGT was appointed as a Chairman of the BCM in August 2020.
Mr.Tumentsogt currently serves as CEO of Erdenes Oyu Tolgoi LLC and Board Member of Oyu Tolgoi LLC. He was Adviser to Minister of Mining and Heavy Industry. was Executive Director of Erdenes Mongol since Oct 2016 to 2018. He was Executive Director of General Electric between 2011-2016. His responsibilities include representing, promoting and protecting GE’s interests, carrying out business liaison, conducting market research and study, exploring and developing business opportunities in Mongolia. Some recent projects include supplying wind turbines for Mongolia’s first grid connected Salkhit wind park, supplying SuperSkids locomotives for Ulaanbaatar railways and supplying of healthcare equipment.
Mr.Tumentsogt worked at the World Bank from 2007 to 2011 and managed projects in energy, renewables, urban, water supply, and air pollution and contributed to several analytical studies. Mr.Tumentsogt held various positions at the Government of Mongolia, including Advisor to Minister of Fuel and Energy of Mongolia, Ministry of Infrastructure of Mongolia and State Property Committee and his responsibilities included energy policy & planning, restructuring, private sector participation, management of state owned assets, NEA regional energy cooperation. Mr.Tumentsogt served as a Commissioner at the Energy Regulatory Authority (ERA) of Mongolia and dealt with issues of power sector regulation, licensing of energy activities, tariff setting, consumer rights, developing power market rules. Mr.Tumentsogt was also appointed as a President of CEO Club in 2014. Mr.Tumentsogt holds Master’s in Electrical Engineering from Moscow Power Engineering Institute (Russia, 1993), and Master’s in Public Affairs from Indiana University (USA, 2001).
