Eurochamber is pleased to announce that Monhorus International LLC, one of leading engineering companies in Mongolia, has renewed its Corporate Plus membership.
Monhorus Erchim /Service/ Since 1997, Monhorus Erchim LLC has been supplying full service of diesel generator including sale, rent, maintenance and installation. We started our business by supplying and installing diesel generators of F.G.WILSON from England, the number one Read more
Monhorus International /Electricity supply/ Monhorus International LLC is a joint venture by Mongolian and Polish company, that prioritize quality was established in 2000., It has been working with mission to introduce the world advanced technology into Mongolian energy, mining, infrastructure and . Read more
Monhorus Trade /Supply and Installation of electrical products/ “Monhorus Trade LLC” is Mongolian invested company founded in 2014. Our company provides high quality products that are based on advanced technology for customer and partners of Mongolian construction and mining market. Read more
Monhorus Engineering /Installation of automatic electrical equipment/ Established in 2001, Monhorus Engineering LLC provides automatic and electrical equipment and installation to customers in Mongolia. Management and engineering Read more
Amper House /Building Material Department Store/ Pioneer in energy sector Amper House, established in 2002, supplies all types of power equipment. Since establishment, the Company has been providing the best quality products for construction, mining sector and professional consulting services. Read more
Monhorus electric /Drawing and installation of Building electric/ Operation of “Monhorus International” LLC has been expanded since January 1, 2016, establishing a subsidiary company named “Monhorus Electric LLC” to transfer its electrical installation and design to the company. Read more
We are looking forward to our successful & cheerful cooperation. |
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| Around The Mongolia Economic Forum 2024 |
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The 14th Mongolia Economic Forum began on 8 July 2024, at the State Palace of Mongolia. This year's Forum, themed "Go Mongolia," spanned two days and focus on the country's economic growth and development.
The event opened with the plenary session titled "Regional Development Policy." In his opening remarks, Prime Minister L. Oyun-Erdene emphasized the new government's commitment to restructuring the government, liberalizing energy tariffs, and advancing mega projects. He highlighted an old Mongolian saying, "Mongolians' 'yes' is a promise" assuring foreign investors that Mongolia will uphold its commitments.
Member of Parliament T. Dorjkhand, leader of the HUN Party, outlined the coalition government's priorities: - Establish stable policies to attract investment.
- Advance mega projects and implement pragmatic policies within the government while fostering debate in Parliament.
Member of Parliament L. Gantumur, leader of the Democratic Party, acknowledged the challenges faced by Mongolia as a developing country. He stressed the need for enhanced human resources, noting recent nationwide test results indicated significant room for improvement. L. Gantumur is set to become the Minister of Economy and Development.
Prime Minister L. Oyun-Erdene reiterated the government's primary goals of reducing state involvement in business and improving the tax environment. He also promised a structurally eternal coalition government.
During a session moderated by Richard Quest, the Prime Minister was asked to outline the government's commitments for the coming year. He listed the following priorities: - Establish a stable environment for investment.
- Improve the business environment by involving more stakeholders.
- Enhance Mongolia's reputation as one of the best places to do business.
Attending a panelist at the session on "Regional Development Policy: Investment", Mr. Daniel Mahoney, Chair of EuroChamber Mongolia, addressed the importance of government action in large projects. He cited disputes regarding OT (Oyu Tolgoi) as a reason for officials' hesitance to commit to large-scale projects. Mahoney emphasized that stable government policies are crucial for attracting foreign investment.
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Bill on the structure and composition of the cabinet submitted to the Speaker of Parliament
The bill submitted by Prime Minister L. Oyun-Erdene proposes a comprehensive cabinet structure designed to address Mongolia's long- and medium-term development goals. The proposed cabinet includes 22 ministers overseeing 16 ministries, with specific roles and responsibilities aimed at various sectors such as economy, foreign affairs, finance, justice, industry, culture, defense, environment, education, family development, transportation, urban development, agriculture, digital innovation, energy, and health.
Notably, the Minister of Economy and Development will also serve as the First Deputy Prime Minister, highlighting the importance of economic development in the government's agenda. The cabinet structure emphasizes regional development, investment, competition, and various national committees focused on monitoring and evaluation, city development, and port revitalization.
The continuity and reorganization of the ministries reflect an adaptive approach to current needs while maintaining stability in governance.
The cabinet’s composition - Prime Minister of Mongolia
- First Deputy Prime Minister of Mongolia and Minister of Economy and Development
- Deputy Prime Minister of Mongolia in Charge of Emergency Situations
- Deputy Prime Minister of Mongolia in Charge of Competition
- Minister of Mongolia and Head of the Cabinet Secretariat
- Minister of Mongolia and Chairman of the National Committee for Monitoring and Evaluation
- Minister of Mongolia and Chairman of the 20-minute City National Committee
- Minister of Mongolia and Chairman of the National Committee for Port Revitalization
- Minister of Foreign Affairs
- Minister of Finance
- Minister of Justice, Law, and Internal Affairs
- Minister of Industry and Mineral Resources
- Minister of Culture, Sports, Tourism, and Youth
- Minister of Defense
- Minister of Environment and Climate Change
- Minister of Education
- Minister of Family and Human Development
- Minister of Road and Transport Development
- Minister of Urban Development, Construction, and Housing
- Minister of Food, Agriculture, and Light Industry
- Minister of Electronic Development, Innovation, and Communications
- Minister of Energy
- Minister of Health
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| EuroChamber is closed on 10-20 July |
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According to the law on public holidays and anniversaries of Mongolia, there are six days off for the National Naadam Festival. This year's Naadam Festival will be held for 6 days on July 10-15. Regarding the National holiday Naadam, EuroChamber office will be closed until 20th July and we'll be back again on Monday, 22nd July.
History of Mongolian Naadam
The National Festival of Mongolia, celebrated annually on July 11th, 12th, and 13th, is a profound expression of the nation's history, culture, and unity. Symbolizing the sun, moon, and fire—emblems of eternal prosperity—the festival embodies noble existence, harmony, and pride. Tracing its origins to the ancient Huns, this festival has a rich history deeply embedded in Mongolian tradition.
Dating back to the 1st-2nd century BC during the founding of the Hun Dynasty, the festival has long been associated with the unity of tribes and the enhancement of soldiers' skills. Ancient sources mention events such as horse racing, wrestling, and archery, which are seen as precursors to the modern festival's traditions. The Huns organized these events to strengthen the bonds among tribes and improve military prowess, laying the groundwork for what would become a hallmark of Mongolian heritage. Historical records, including the "Mongolian Secret History," note that similar festivities were held in July.
In 1639, the "Danshig Festival" was inaugurated in honor of Saint Zanabazar, the spiritual leader of the Khalkh. Notable victories at this event, such as those of Bokh Lama and Bonkhor Donir's horse, are well-documented. By 1772, the festival at Khentii Mountain had grown into a significant celebration, eventually known as the "Ten Kingdom Festival," and by 1912, it became an annual state event. This celebration continued until the death of Bogd Khan in 1925.
The "People's State Festival" began in 1922, following the establishment of the Mongolian People's Republic. In 1925, a decision was made to combine the two major festivals, setting July 11th as the official date—a tradition that persists to this day. Since 1946, this date has also commemorated the anniversary of the People's Revolution victory.
In 2003, the "National Festival" law was passed, formalizing competitions in traditional wrestling, horse racing, and archery at national, provincial, and local levels. UNESCO recognized the National Day Festival in 2010 by including it in the "Representative List of the Intangible Cultural Heritage of Humanity," acknowledging its centuries-old legacy and officially introducing this Mongolian tradition to the world. |
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Mail to communications@eurochamber.mnfor inquiry. |
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