| EuroChamber AGM 2025 – Save the Date! |
| We are pleased to invite you to the Annual General Meeting (AGM) 2025 of EuroChamber Mongolia, taking place on May 2, 2025. This is an important opportunity to reflect on the past year, discuss key updates, and shape the future of our Chamber. 📅 Date: May 2, 2025 📍 Venue: [Insert Location] 🕓 Time: 4:00 PM – 6:15 PM Agenda Highlights: ✔️ Opening Remarks & Diplomatic Greetings ✔️ 2024 Activity & Financial Reports ✔️ 2025 Budget Overview & Key Updates ✔️ Board Elections & Member Engagement ✔️ Networking & Sponsor Spotlight Your participation is crucial in strengthening our mission and ensuring EuroChamber continues to provide value to the European business community in Mongolia. More detailed information will be announced soon |
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| This Week’s Exclusive Wine Selection – 20% Off! |
| Discover a curated selection of exceptional wines, each crafted with timeless elegance and a deep connection to its origin.
🍷 Château Lafite Rothschild 2014 – A Pauillac masterpiece, known for its finesse, complexity, and remarkable aging potential. 🍷 Umberto Cesari Tauleto 2017 – A rich and velvety Sangiovese from Emilia-Romagna, nurtured in mineral-rich clay soils. 🍷 Coup de Foudre Cabernet Sauvignon 2021 – A bold and opulent Napa Valley Cabernet, shaped by warm days and cool nights.
Enjoy 20% off on these exquisite selections until Sunday, March 30th. Delivery is available to your preferred location. For inquiries or assistance, feel free to reach out—we’re happy to help! contact information: Tel: 7718 1111 |
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| As part of the Government of Mongolia’s 2024-2028 Action Plan, the Ministry of Finance has proposed major tax law reforms, including amendments to the VAT Law, General Tax Law, Corporate Income Tax (CIT) Law, and Personal Income Tax (PIT) Law. Public comments are open until April 12, 2025, with implementation set for January 1, 2026. Key VAT Changes: ✔ VAT Refunds – Individuals can claim progressive VAT refunds on purchases. ✔ VAT Registration – Businesses must register as VAT payers if annual revenue exceeds MNT 400 million. ✔ VAT Deductions – Input VAT on capital expenditure, business events, employee training, and passenger cars is now deductible. For more details or to submit feedback, visit the Ministry of Finance’s website. |
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| Under the auspices of President Khurelsukh Ukhnaa, the World Women Entrepreneurs Forum (WWEF) will take place in Ulaanbaatar on August 25-26, 2025. Women business leaders gathered at the Ministry of Foreign Affairs on March 22 to discuss the Forum’s agenda and potential collaborations. The Forum, themed "Inspire, Impact, Invest," will focus on empowering women entrepreneurs, fostering investment, and enhancing global competitiveness. A series of training sessions will be held to help participants present their businesses, attract investors, and expand their networks. WWEF 2025 is set to bring together Mongolian and international SMEs, top executives, investors, policymakers, and business consultants, creating a unique platform for growth and collaboration. |
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| Financial Regulatory Commission Revises Debt-to-Income Ratio of Consumer Credit |
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The Financial Regulatory Commission of Mongolia (FRC) has introduced new measures to regulate consumer credit, setting the debt-to-income (DTI) ratio for loans issued by non-banking financial institutions (NBFIs) and the loan-to-value (LTV) ratio for auto loans at a maximum of 60 percent. This decision is aimed at curbing excessive debt burdens, improving household income stability, and enhancing overall purchasing power.
Beyond protecting consumers, the FRC has also revised financial ratios related to trust services, bonds, and external financing to increase the risk-bearing capacity and solvency of NBFIs. These changes reflect ongoing efforts to strengthen Mongolia’s financial sector amid economic fluctuations.
Previously, in 2023, the FRC set a 70 percent limit on the DTI ratio for online loans to mitigate debt risks. By 2024, this cap was extended to consumer credit and car loans. However, recent economic pressures—including rising inflation, fluctuating global commodity prices, increased foreign exchange demand, and a higher policy interest rate of 12 percent—prompted the FRC to further tighten lending regulations. This move also aligns with Mongolia’s banking sector, which has already lowered the DTI ratio for consumer loans to 50 percent. By implementing stricter lending criteria, the FRC aims to ensure financial stability, prevent over-indebtedness, and create a more sustainable lending environment for both consumers and financial institutions. |
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| The pharmaceutical and cosmetics industries have taken legal action against the EU Directive on Urban Wastewater Treatment, which requires them to finance at least 80% of micropollutant removal costs, citing concerns over fairness and transparency. The EU Commission argues this aligns with the polluter pays principle, as over 90% of micropollutants in wastewater originate from these industries.
Industry leaders question the data and methodology behind the directive and advocate for a more balanced cost-sharing model. They warn of significant price increases for essential medicines, with potential shortages due to regulatory pricing limits. The European Commission defends the directive, stating that cost impacts on pharmaceutical pricing and profits would be minimal, and that member states have flexibility in implementing the fees. Meanwhile, 16 cases have been filed in the Court of Justice of the EU, including one by Poland, challenging the directive’s implications. |
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Yesterday, at the Nutrition for Growth (N4G) Summit in Paris, the European Commission announced a new pledge of €3.4 billion until 2027 to combat malnutrition globally. This commitment builds on the EU's ongoing efforts to reduce all forms of malnutrition and drive progress in nutrition-related interventions worldwide.
The EU's investment will focus on supporting partner countries facing high levels of child malnutrition, particularly in Sub-Saharan Africa. It will target children under five and young pregnant and lactating mothers suffering from severe acute malnutrition. The support will be tailored to address the specific needs of each country, with a strong emphasis on the most vulnerable populations in least developed and fragile settings.
The EU's engagement will also continue at global and regional levels, where the EU is successfully promoting initiatives to strengthen nutrition governance and international collaboration on research and development.
Today's pledge follows the EU's previous commitment of €2.5 billion for 2021-2023, announced at the N4G Summit in Tokyo. The EU even exceeded its initial pledge by nearly €1.9 billion, ultimately contributing a total of €4.4 billion for 2021-2023. To maximise its impact, the EU invests through its Global Gateway strategy in essential infrastructure, improving access to public services, supporting local agri-food value chains, and promoting sustainable economic growth.
Commissioner for Preparedness, Crisis Management and Equality, Hadja Lahbib, said: "Since the first Nutrition for Growth Summit in 2013, the EU has turned bold pledges into bold action, leading the fight against malnutrition. Today’s pledge is a renewed testament to our unwavering commitment to ensure better nutrition for mothers and children, stronger food systems, and better health and social protection where they are needed most. The European Union will continue to lead by example, leaving no one behind. We will work with partners to move closer to a world where every child wakes up nourished, grows strong, and dreams without limits." |
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Mail to communications@eurochamber.mnfor inquiry. |
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