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EuroChamber newsletter
12 May 2023
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Upcoming events
24 May. Wines & Spirits Working Group meeting
25 May. Launching Event for "Trade and Investment Climate Statement" by EuroChamber
29 May. Banking and Finance Working Group meeting
EuroChamber organizes working lunch on the discussion of draft revision of Investment Law
EuroChamber organizes working lunch on the discussion of draft revision of Investment Law
On 12 May, 2023 at Fromagerie Macu Restaurant, EuroChamber organized a discussion on the draft revision of Investment Law to consolidate Eurochamber's key comments on further submission to the Ministry of Economy and Development.

We thank representatives from our members including Mahoney Liotta, Badrakh Energy, BritCham, British Embassy in Ulaanbaatar, Madame Seguin and MACU for their time and contributions.
EuroChamber is looking for a FDI Working Group Chair
EuroChamber is looking for a FDI Working Group Chair
EuroChamber is looking for a chair for its one of the dynamic working groups: Foreign Investment Working Group.

The FDI Working Group is an advisory and advocacy group whose role is to represent the voice of EuroChamber’s members.

The objectives of the FDI Working Group are to:
  • Represent and promote the voice of EuroChamber’s members;
  • Provide a platform for businesses to advocate on priorities that are important to their businesses;
  • Provide opportunities for businesses to influence policy-making;

The position of Working Group Chair is a voluntary position. Anyone from EuroChamber's members, who is keen to shape a positive environment for FDI, is highly encouraged to apply for the position.

The interested and eligible candidates can send their expression of interest at policydirector@eurochamber.mn.

FDI Working Group Chair role descriptions:

The key responsibilities and duties of a Working Group Chair are to:
  • Chair all Working Group meetings in collaboration with EuroChamber's Policy Director;
  • Facilitate the development of ideas within the Working Group by encouraging all members to contribute;
  • Work with Working Group members to develop meeting agendas;
  • Perform the role of the lead spokesperson for the Working Group;
  • Prepare for meetings by reviewing materials and working with EuroChamber’s executive team to establish a plan, priorities and/or direction prior to each meeting;
  • Involve all members in the decision making
  • Use the working group’s mandate and objectives to guide work of working group
Time commitment:
  • Time for making arrangements for working group to meet (1.5 hour per month)
  • Time for working group to discuss business and make recommendations
  • Time to conduct activity/event if part of the working group role
  • Time to draft proposed resolutions for inclusion in written reports
  • Time to produce written reports using the needed templates

Benefits of serving a working group chair:
  • Provide/expand leadership experience
  • Increase personal visibility within the business community
  • Work closely with decision-makers in the government
  • Interact with diverse stakeholders including local and international individuals.
Europe Day on May 14 on Sukhbaatar Square
Europe Day on May 14 on Sukhbaatar Square
EuroChamber will participate in Europe Day organised by the EU Delegation in Mongolia. Visit us at our tent, throw some darts and win prizes!

Come join us at
14:00 - 15:00 EXPORTING TO EUROPE - DISCUSSION with Ms. Klaartje Genbrugge, EuroChamber's President and a representative from Tuushin LLC who will share their experiences on exporting to Europe.

Also, check out products from our member companies MARIS True Leather, Fromagerie MACU and Just.

We thank MARIS True Leather, CRM LLC, Well Bee LLC and Ard Financial Group for sponsoring the Darts game prizes.
Business & Wine Event
Business & Wine Event
EuroChamber is pleased to share that our partner DMUV's invitation to the "Business & Wine" event on Wednesday, May 17, 2023 starting at 5:00 pm. The topic will be the financing of international business activities.

Please secure your place early here. The event will be held in Mongolian language.

The entrance fee for members is 25,000 MNT.

DMUV Non-member is 50,000 MNT.
Member Insight: EuroChamber’s Interview
Member Insight: EuroChamber’s Interview
Interview with Mr. E.Bilguun, CEO of Just LLC

What is your company’s most significant accomplishment in the past year? What is your company’s priority for this year?
Last year, our company was able to make major innovations in the field of technology. We have made a leap in AR technology and plan to further develop it and introduce it to many fields such as real estate, construction, and commerce.

What is a good experience at your company that you would like to share with others?
At our company, we prioritize speed and curiosity. We have created an open communication environment that encourages free thinking among our employees. This has helped us find innovative solutions to complex technological problems.

Please describe yourself in 5 words.
Creative, Curious, Responsive, Risk-taking, Visionary

Please tell us what kind of book/ movie/ drama or any other arts that made the deepest impression on you recently.
Steve Jobs' movie made huge impression.

What has been the most significant benefit of being a member of EuroChamber Mongolia?
Networking through events and working groups has had a huge impact.
Mongolia Updates
MPs agreed to discuss the draft amendments to the Constitution
MPs agreed to discuss the draft amendments to the Constitution
On May 5, 2023, at plenary meeting of regular spring session of the State Great Khural of 2013, 57 out of 73 members attended, with a 78.1 percent turnout. During this session, the first discussion of draft amendments to the Constitution was held.

59 of the 61 members, or 93.7 percent, supported the draft law on the procedure for transition to compliance with the amendments made to the Constitution of Mongolia.

According to the draft amendments, the number of members of the State Great Khural will be increased to 152 in line with the increase in the population, in order to the parliament’s capacity to represent citizens of Mongolia.

To have an election system that reflects the advantages of majority and proportional electoral systems, it is included in Section 1 of Article 21 of the Constitution of Mongolia to elect 50 percent of the members of the State Great Khural by majority voting and 50 percent proportional voting.

With the approval of the draft amendments to the Constitution of Mongolia, parliamentary system, which guarantees Mongolia's independence and national security, will be improved by improving the capacity of the parliament to represent the people and the quality of monitoring the implementation of laws. The initiators of the draft amendments said that by clearly specifying the electoral system in the Constitution of Mongolia, the electoral system of the State Great Khural of Mongolia will be stable, the parties will compete fairly in the elections, the electoral system will be understandable to citizens, and the voting rights of citizens abroad will be guaranteed.

Source: parliament.mn
Best taxpayers awarded
Best taxpayers awarded
Every year Mongolia Tax Authority organizes ‘Taxpayers’ Day’ and awards the best tax paying companies and enterprises. Previously, they used to name the top 10 taxpayers who concentrated the most amount of money, but since last year they started naming the top ten companies in four main segments. These include, big segment covering 900 companies, medium segment covering 300 companies, small segment covering 30,000 companies, and micro segment covering 150,000 enterprises, and the top ten from each segment were selected.

Head of the Tax Authority B.Zayabal said, “All activities of the tax authority has become digital. Now, you do not have to look for someone you know in the tax office. We will introduce the companies that received an A rating from each segment based on business scoring points. Starting from this year, the Tax Authority is conducting business scoring, and for example, if enterprises can get scores between 95 to 100, they will get an A rating.”

Some of the companies that pay the biggest amount of tax are:
  • Erdenet Mining Corporation SOE (MNT 1.2 trillion )
  • Erdenes Tavan Tolgoi JSC (MNT 990 billion)
  • Oyu Tolgoi (MNT 440 billion)
  • Energy Resource LLC (MNT 289 billion)
  • Tavan Tolgoi JSC (MNT 261.6 billion).

It can be seen that A rating companies are mining and mineral producing companies.

Big segment companies are:
  • Mobicom corporation LLC (MNT 62 billion)
  • Unitel group LLC (MNT 61 billion)
  • MCS Coca-Cola LLC (MNT 39 billion)

Some of the medium segment companies are:
  • U-Plant LLC (MNT 4.7 billion)
  • Master Time LLC (MNT 4.1 billion)
  • Best Western Tech LLC (MNT 2.5 billion)

Small segment companies include:
  • United Alliance LLC (MNT 500 million)
  • Digital works LLC (MNT 400 million)
  • Sutain Ikher Tsetseg LLC (MNT 200 million)

To mention some of the micro segment companies:
  • SASS LLC (MNT 60 million)
  • Maikhan Gol LLC (MNT 40 million)
  • Urnukh Khurd LLC (MNT 40 million)

The top companies in the micro segment are operating in wholesale retail trade, information and communication, construction, administrative and support services, scientific and technical, housing and food service enterprises.

Source: theubposts.com
Request Put Forth to Increase Number of Students Involved in Chevening Scholarship
Request Put Forth to Increase Number of Students Involved in Chevening Scholarship
On the sideline of the Education World Forum-2023, Minister of Education and Science L. Enkh-Amgalan met Andrew Mitchell, the MP and Minister of State at the Foreign Office (Minister for Development), and Gillian Keegan, the Secretary of State for Education of the United Kingdom of Great Britain and Northern Ireland.

At the onset of the meeting, the parties exchanged congratulations on the 60th anniversary of the establishment of diplomatic relations between the two countries and exchanged views on cooperation in the education sector, with a particular focus on increasing the number of students to be involved in the Chevening scholarship.

Chevening scholarship has been open for Mongolian students since 1993. Every year, up to 10 students receive the Chevening scholarship from Mongolia. As of today, about 200 Mongolian students have studied in the UK with this scholarship.

Source: montsame.mn
Minister of Foreign Affairs on Visit to the Czech Republic
Minister of Foreign Affairs on Visit to the Czech Republic
Minister of Foreign Affairs B. Battsetseg is on a visit to the Czech Republic between May 11 and 12.

Within the framework of the visit, the Minister of Foreign Affairs B. Battsetseg will hold official talks with Jan Lipavský, the Minister of Foreign Affairs of the Czech Republic to discuss expanding relations and cooperation in trade, economy, investment, and other sectors between the two countries. Other meetings are planned with the President of the Senate, Deputy Prime Minister, and Minister of Industry and Trade of the Czech Republic.

Traditionally, Mongolia and Czech maintain active cooperation in the geology and mining sectors. To that extent, during the visit, a Memorandum of Cooperation will be signed, with a particular emphasis on reviving and further intensifying the relations in these sectors.

As part of the visit, Minister B. Battsetseg will meet Mongolian citizens residing in the Czech Republic and exchange views on their social welfare, pension, and implementation of the Agreement on Social Security, which was signed by the governments of Mongolia and the Czech Republic.

Currently, 12 thousand Mongolians are residing in the Czech Republic, making it the largest community in Europe.

Source: montsame.com
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