| Eurochamber Mongolia is pleased to announce that Market intelligence firm covering Mongolia, Cover Mongolia became a new member in SME category.
Cover Mongolia is a service for professionals seeking up-to-date information on Mongolia's investment, business, and political climate.
We wish Cover Mongolia a big success and long-lasting trusted cooperation. |
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| EU Trade Day 2024 held this week |
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This year marks 35th anniversary of establishment of diplomatic relations between Mongolia and the European Union. Many events were held this week, one of which was the "EU Trade Day 2024" held on Wednesday 15 May at MNCCI, where the International Trade Development Mongolia (ITDM) project was launched. The event was organised by ITDM project team, the EU Delegation in Mongolia, the Ministry of Foreign Affairs of Mongolia, EuroChamber and MongolChamber.
The EU Trade Day has been the flagship event of the European Union’s trade activities in Mongolia. This event brought together public and private actors as well as international partners contributing to development Mongolian foreign trade. The event aimed to explore ways to introduce more effective trade policy, trade facilitation and export promotion in close collaboration with public and private stakeholders. Ambassadors of the European Union’s Member States residing in Ulaanbaatar and Beijing attended as special guests. EuroChamber team presented the preliminary results of its Trade and Investment Climate Statement 2024 and attended the panel discussion as a panellist.
The opening ceremony of the ITDM project underscores the commitment of both the European Union and Mongolia to fostering a robust trade environment. With continued cooperation and strategic initiatives, the project is poised to make a meaningful impact on Mongolia's foreign trade landscape by 2027. |
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| EuroChamber’s Premium members’ event with EU Ambassadors was held on 17 May |
| EuroChamber Mongolia held a breakfast meeting for Premium members, with Ambassadors and Embassy representatives from European Union’s Member States. EuroChamber’s Board members, Working Group chairs participated the event.
Preliminary results of the Trade and Investment Climate statement were presented, and the CEO Zandan Bilegt briefed on the legislative process of Mongolia, National Wealth Fund Law, Investment Law draft and tax environment.
EuroChamber would like to express our heartfelt gratitude to EU Delegation for their efforts in making this event happen and MSM Group for generous sponsorship. |
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| Call for Co-Chair at Sustainability & Energy Working Group |
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EuroChamber Mongolia is seeking a Co-Chair to join its Sustainability & Energy working group, chaired by Ms. Batzul Gerelsaikhan, Head of Properties Department at Erel Group. The interested and eligible candidates can send their expression of interest at policydirector@eurochamber.mnby 20 May 2024. We aim to finalize the selection process by 31 May 2024.
About the Working Group: The Sustainability & Energy Working Group serves as a policy advocacy platform representing the interests of EuroChamber Mongolia members.
Our objectives include: - Representing and promoting members' voices in the sustainability and energy sectors;
- Provide opportunities for businesses to influence policy-making;
- Facilitating knowledge sharing among members and the wider community
Co-Chair role: - Co-chairing all working group meetings in collaboration with the Chair and EuroChamber's Policy Director.
- Facilitating idea development within the group and encouraging contributions from all members.
- Collaborating with members to develop meeting agendas.
- Serving as the lead spokesperson for the group.
- Preparing for meetings by reviewing materials and establishing priorities with EuroChamber’s executive team.
- Ensuring all members are involved in decision-making processes.
- Guiding the group's work based on its mandate and objectives.
Time commitment: - Chairing meetings in the absence of the Chair (approximately 1.5 hours per month).
- Attendance at monthly meetings, participation in planning sessions, and occasional event coordination. Participating in discussions, making recommendations, and organizing activities/events as required.
- Producing reports as necessary.
Requirements: - Membership in EuroChamber Mongolia, DMUV, FMCCI, or BritCham
- Knowledge of the sustainability and energy sector, including relevant policies and practices
- Strong communication and organizational skills. Social Media skills are a plus.
- Ability to collaborate effectively with diverse stakeholders.
Benefits of serving a Co-Chair: - Professional development, leadership experience, and increased visibility within the business community.
- Contribution to positive change in Mongolia’s business landscape and opportunity to shape impactful sustainability & energy initiatives.
- Networking opportunities with a diverse range of stakeholders, including local and international industry professionals, policy makers and government decision-makers.
The position of Working Group Co-Chair is a voluntary position. |
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Golomt Bank JSC successfully issued its standalone three-year US$300 million senior unsecured notes in the international capital markets with ‘J.P. Morgan Securities PLC’, ‘Deutsche Bank AG’ acting as joint global coordinators and ‘Korea Investment & Securities Asia Limited’ acting as a joint bookrunner. This marked the return of Mongolian commercial banks’ presence in the international debt capital markets which had been halted for over a decade. Moody’s and S&P rated the notes as B3/B, capping the sovereign rating of B3/B/B+ rating.
The roadshow took place in Hong Kong, Singapore, London, and New York in the week of April 29, covering a wide range of investors, including hedge funds and global asset management firms with orders reaching US$500 million. Golomt Bank’s US$300 million three-year senior bond in the international market has been successfully issued with a coupon of 11 percent in the Reg S/144A format. The notes were allocated to hedge funds and real money investors in the USA, Asia, Europe, and Mongolia.
This successful transaction is an important event for the Mongolian banking sector to make a breakthrough in the global market and subsequently increase foreign exchange reserves in Mongolia. |
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| After a couple of weeks Spring cleaning, Steppe Inne is back at their amazing new venue today.
Come along and enjoy with friends, colleagues and one and all free parking, available food, safe environment, live expat musicians and a home from home🎶 |
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| Mongolia Can Now Export Meat to Gulf Countries |
| The legal framework was established for Mongolian private enterprises to export halal meat to Middle Eastern countries.
The Ministry of Foreign Affairs of Mongolia, the Ministry of Food, Agriculture and Light Industry of Mongolia, and the Mongolian Embassy in Kuwait initiated obtaining halal certification and establishing the legal framework in Mongolia to export meat and meat products to Middle Eastern countries. With the support of the United Nations Industry Development Organization, the Mongolian Agency for Standard Metrology was accredited by the Gulf Cooperation Council Accreditation Center.
State Secretary of the Ministry of Foreign Affairs of Mongolia Ankhbayar Nyamdorj handed over the Accreditation Certificate to the Director of the Mongolian Agency for Standard Metrology S. Batbaatar.
With the Accreditation Certificate, Mongolian meat products meeting halal standards can now be exported to Middle Eastern countries.
Source: montsame.mn |
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| During its regular session on May 15, 2024, the Cabinet made two decisions concerning citizens with developmental challenges. The Cabinet discussed the revised draft Law on Social Protection of Citizens with Developmental Challenges and decided to submit it to the State Great Khural of Mongolia, reflecting the recommendations of Cabinet members. Also, Head of the National Olympic, Public Physical Education and Sports Committee Bat-Erdene Badmaanyambuu was tasked with establishing a sports complex with special sports equipment designed for people with developmental challenges.
The adoption of the revised draft Law on Social Protection of Citizens with Developmental Challenges will ...
Source: montsame.mn |
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During a recent event, researchers presented that 23 percent of tourists who came to Mongolia last year, or more than 153,000 tourists visited the factories and boutiques of Gobi JSC and bought cashmere products. 75 percent of the foreign customers who purchased products from the company were Korean, 10 percent were Chinese, and four percent were Russian and Japanese tourists.
Experts have estimated that the number of tourists interested in wool and cashmere products will grow rapidly, and as a result the above indicator will “surpass” in the future. Shortly after this information was released, the Khanbogd Cashmere and Mongol Textile companies took steps to bring their products and services closer to tourists.
They introduced the product making process and steps to the representatives of tour operator companies and guides. Also, they expressed the readiness to welcome tourists and encouraged tour guide organizations to include the national companies in the city’s tour itinerary. In addition, Darkhan Nekhii JSC and Evseg Cashmere will advertise their products and services to foreigners. Recently, national and large companies that produce and market products using wool, cashmere, sheepskin, and wool have been actively working on the development of industry-based tourism...
Source: theubposts.com |
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