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We are pleased to welcome Smart Warehouse LLC as our Start-up member.
On behalf of the co-organizers, EuroChamber is pleased to invite our members to the upcoming Corporate Sustainability and Environmental Rights in Asia conference, to be held in-person from the 4-5 October 2023 at United Nations Conference Center in Bangkok, Thailand.
The conference cohosted by United Nations Development Programme (UNDP) and United Nations Environment Programme (UNEP), will bring together business leaders, investors, policymakers, and civil society actors to exchange views on the role of private sector in strengthening the newly recognized right to a clean, healthy and sustainable environment (R2HE).
For further details, kindly see attached the Conference agenda. Please also see the event website to register and learn more.
We are excited to inform that MSM Group LLC's MSM Automotive has opened its new Mercedes-Benz showroom recently.
MSM Automotive’s Mercedes-Benz showroom's features:
- Showroom space: 4,085sqm (more than doubled the old showroom space)
- Highlights: Fully aligned with the latest Mercedes-Benz showroom standard.
- Models: Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach family models.
|Monthly Meeting on 8 September, 2023
We are happy to welcome you all to our monthly meeting, Back to Business, to give an overview on Mongolia Business Outlook for Q4, 2023 on 8 September, 2023.
For members: Complimentary
For non-members: MNT 50,000
Venue: Paris-Beijing room, Shangri-La Hotel
For registration, please click here.
|Shiveekhuren-Sekhe port's railway will be operational in Q4, 2023
As a component of the Mongolian Government's New Revival Policy, the Port Revival initiative is striving to comprehensively link border ports with railways and well-paved roads through a phased approach. This effort seeks to enhance transportation and logistics competitiveness, improve freight transportation, and lay the groundwork for the country's potential to evolve into a transit hub in the future.
In this context, the commencement of the Shiveekhuren-Sekhe port's railway construction took place in May, 2023.
As per the outlined plan, the railway's construction is anticipated to be operational by the final quarter of this year. Upon its completion, coal exports through the Shiveehkuren port are expected to increase by two-fold, potentially enabling to transport 20-25 million tons of coal annually.
|Mayor Highlights Accessible Public Transport Against Traffic Congestion
The development index of Ulaanbaatar city is 0.464, defined by 86 indicators in four groups: sustainability, quality of the living environment, accessibility, and competitiveness, and six categories: health, infrastructure, economy, society, education, and governance. The capital city authorities aim to increase the index to 0.570 in 2025, 0.630 in 2030, and 0.930 in 2050.
On August 21, the Governor of the Capital City and Mayor of Ulaanbaatar Sumyabazar Dolgorsuren made a report on the actions and measures, including Law, Economy, and Healthy Governance Programs implemented since taking office as well as future plans to Members of Parliament elected from Ulaanbaatar city.
Having reported on the implementation process of the three pillars program- Law Program (70 percent performance) Economy Program (60 percent), and Healthy Governance Program (over 40 percent) Governor D. Sumyabazar noted, "If a set of laws related to Ulaanbaatar city are developed and the law on land, law on construction, law on water, law on road transport, law on energy, law on specially protected areas, and the general law on state registration are adopted, the problems facing to the capital can be sorted out economically and in terms of governance. 48,000 employees are working in 123 organizations under the capital. It is possible to direct the development of Ulaanbaatar city within the 86 indicators that are presented today.”
“With the support of the Temporary Committee responsible for the development of Ulaanbaatar city, the Law on the Legal Status of the Capital was renewed after 27 years. Also, at an extended session of 2021, the government comprehensively discussed the problems in Ulaanbaatar city for the first time and decided to allot a budget of MNT 420 billion annually to solve the city congestion, one of the biggest problems in the capital.
An average of 2.8 million daily commuters travel to the city center from five major locations. 1042 buses serve 107 routes on the 48.2 km road through the city's four main avenues: Peace Avenue, Chinggis Avenue, Ard Ayush Avenue, and Chinggeltei Avenue. The population of Ulaanbaatar is expected to reach 2.6 million by 2040. To increase the accessibility of public transport and assist relieve traffic congestion, it is considered necessary to extend the above four avenues, creating new lanes to make them have three lanes at the first stage. Only public transport should travel on the first lane, and the 13.7 km of road should be expanded in the first step. As a result, traffic congestion will be reduced by eight percent, and the average driving speed will be 11.7 km/h.
Moreover, it has been estimated that traffic congestion will decrease by six percent by introducing short turns to remote areas of the capital city, where accessibility of public transportation is poor. In other words, by establishing 181 bus stations for short-turn service and building 86.1 km of new roads, it is possible to expand access to public transportation, underscored Mayor D.Sumyabazar. A comprehensive reform is being carried out to renew the fleet of public transport, planning to buy a total of 1225 buses. Out of them, 415 buses have been imported and the remaining 810 buses will be brought this year.
In addition, the Mayor pointed out that the Policy Research and Analysis Center operates under the Governor of the Capital and the Capital makes decisions based on the results of studies and research by foreign and domestic scholars.
In the capital city of Ulaanbaatar, the number of seats in general education schools increased by 5300 and kindergarten beds by 3605 in the past three years. Specifically, four schools, 14 kindergartens, seven complexes of elementary schools and kindergartens, and 11 Houses of Mongolian heritage and traditions were established.
|Mongolian insurance market is experiencing impressive growth
According to the recent report by the Financial Regulatory Commission, in the first half of this year, the combined assets of insurance companies have surged by 20.2 percent in comparison to the same period in the previous year, resulting in a total of MNT 518.3 billion. In contrast to the same period in 2019, this represents a notable increase of 46.1 percent.
Furthermore, the assets of conventional insurance companies have seen a rise of 20.6 percent when matched with the corresponding period from the previous year, reaching MNT 433.2 billion. This constitutes 83.6 percent of the industry's overall assets. On the other hand, re-insurance companies have experienced a more modest growth of 10.5 percent in assets in comparison to the same time frame from the previous year, amounting to MNT 68.5 billion, comprising 13.2 percent of the industry's combined assets.
Meanwhile, insurance companies have experienced a substantial upsurge of 64.5 percent in long-term assets as compared to the corresponding period in the preceding year, leading to a total of MNT 16.6 billion. This accounts for 3.2 percent of the industry's assets.
|Electronic certificates will be installed on private vehicles from September 4
Officials provided details regarding the implementation of the electronic vehicle technical inspection certificate.
B. Davaanyam, Director of the Electronic Development and Information Technology Department in the capital, informed that e-certificates will be installed on 442,477 vehicles bearing Ulaanbaatar license plates. The initial installation is scheduled for state-owned vehicles, followed by private vehicles.
He further informed that the installation of electronic certificates (RFID chips) on citizens' vehicles will begin on September 4, taking place at 32 stationary points and 12 mobile stations of the National Center of Road Transport, with completion targeted by October 1.
S. Javkhlantbaatar, the head of the capital's Public Transport Department, elaborated on ongoing reforms in the public transport. He noted the arrival of an additional 107 buses in the city, with an anticipated 100 more to follow by September 5. Preparatory measures related to school buses were also outlined as part of these efforts.
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