| Newsletter - 12 April 2024 |
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| Mr. Anders Berglund: New President of EuroChamber Mongolia. |
| Mr. Anders Berglund, the VP of MSM Industrial, has been elected as a new President of EuroChamber Mongolia.
He has extensive experience in Mongolia, he also has worked in Saudi Arabia, South-Africa, Norway, and West African countries such as Ghana, Mali, Burkina Faso, Ivory Coast. Before joining MSM this year, he worked as the Managing Director of Atlas Copco/Epiroc Mongolia in 2012 - 2019.
We warmly welcome our new President and looking forward to the fruitful cooperation. |
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| OECD/ACN Monitoring of Mongolia Special Session with Business Community |
| Today, on April 12, At the invitation of the OECD Anti-Corruption Network for Eastern Europe and Central Asia (ACN) and the International Development Law Organisation (IDLO), Eurochamber participated in the 5th Monitoring Meeting of Mongolia under the Istanbul Anti-Corruption Action Plan, alongside representatives from business communities rather than state agencies.
In this meeting, OECD and IDLO officials listened to the perspectives of the private sector and businesses regarding corruption within various fields, including state procurement agency, the judiciary and other state dependent executive institutions. |
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| [Photo] EuroChamber Health Working Group meeting #1 |
| The EuroChamber Health Working Group has successfully organised its first meeting with the representatives from pharmaceutical industry. The WG discussed challenges in the pharmaceutical registration process, such as requirement for registration of medical equipment, red tape when registering new pharmaceuticals in the market, red tape arising with changes in multinational company names. While the concept of the new Special licenses Law was liberal and business-friendly, its landing for health sector was negative, creating hurdles for healthcare companies, such as requirements to register all the healthcare equipment. There are discussions being held on the joint procurement by private and public sector, which may attract large producers of medical equipment.
We sincerely thank Bogd Bank for hosting the meeting. |
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| EuroChamber's Sustainability & Energy WG meeting #8 |
| EuroChamber's "Sustainability and Energy" working group meeting #8 will be held on upcoming Monday, 15th April 2024 @Bodi tower (Bogd Bank HQ) with our guest speaker Mr. Bold Magvan, the CEO of Mongolia Green Finance Corporation (MGFC).
MGFC is a wholesale lending institution to fund green loans in Mongolia. His dedication to promoting sustainable finance and green initiatives makes him a highly valued voice in our community. As the CEO of MGFCI, his insights into Mongolia's sustainable finance landscape are invaluable, and we believe it will greatly enrich our discussions and provide valuable guidance to our working group members.
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| "HR Development and TVET education in mining" event |
| EuroChamber and DMUV's joint event "HR Development and TVET Education in Mining", scheduled for April 18th at 4pm in the Paris Beijing room at Shangri-la.
In this event, officials and industry experts will disseminate their valuable knowledge and opinions concerning TVET (Technical and Vocational Education and Training) education and its significance within the labour market and human resource sector.
Moreover, discussions will encompass its coherence with businesses, particularly within the mining industry, and address the challenges and opportunities pertaining to industry relevance.
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| Austrian-Mongolian Business Forum on 25th April, 2024 |
| Invitation to the Austrian Mongolian Business Forum
On the occasion of the 60th year anniversary of Austrian-Mongolian diplomatic relations, The Austrian-Mongolian Business Forum will be held on ....
Austrian companies in healthcare, agriculture, education, food sectors producing medical technology, food production equipment, meat processing will be looking for partners in Mongolia.
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This year's event holds profound significance as it commemorates the illustrious 60th anniversary of diplomatic relations between Mongolia and Austria - a celebration of the enduring "Harmony of Nations." Anticipate the presence of distinguished guests, including the President of the Vienna Provincial Parliament, the Austrian Ambassador to China & Mongolia, and esteemed delegates spanning various sectors from both Austria and Mongolia.
Prepare to be enchanted by an evening of refined cultural splendour. Experience the time-honoured traditions of the Vienna Ball, with captivating performances such as the elegant debutant dance, the melodic strains of classical Austrian music by talented Mongolian opera singers, and a heartfelt contribution from the Mongolian State Conservatory.
Following the enchanting Debutant's Danube Waltz, allow yourself to be swept away on the dance floor by the timeless rhythms of the Viennese waltz. Fear not, for experienced dancers will be on hand to graciously guide you through each step. Indulge in an exquisite gastronomic journey, as a sumptuous four-course dinner awaits, accompanied by a selection of fine beverages.
Furthermore, embrace the spirit of philanthropy as the 20th Vienna Ball upholds its cherished tradition of charity. This year, a significant portion of the ticket price will support renew complete costumes for the performances of young Mongolian artists at the Mongolian State Conservatory, nurturing their artistic aspirations and enriching their cultural legacy.
We eagerly anticipate your esteemed presence at this opulent celebration, promising an unforgettable evening of sophistication, cultural richness, and charitable goodwill.
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| Mongolia Tourism Organization (MTO) event |
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Dear members and Subscribers of Eurochamber Mongolia,
We, the Ministry of Environment and Tourism and the Mongolia Tourism Organization (MTO), are delighted to extend our official invitation to you for the upcoming "Tourism Week 2024" event, scheduled to take place from April 15th to April 21st, 2024, in Ulaanbaatar, Mongolia. This week-long event promises an engaging series of activities aimed at fostering dialogue, networking, and investment opportunities within Mongolia's tourism sector.
The itinerary includes: - National level tourism sectors dialogue and networking from 15 to 17 April, (MTO members and domestic participants only)
- “B2B meeting” on 16th April at The Corporate Hotel & Convention Centre 3rd Floor (Tourist camps, resort, hotels and service organisations)
- "Tourism Investment Conference" from 18 April to 19 April at The Corporate Hotel & Convention Centre in Ulaanbaatar, Mongolia (International organization and investors)
- "Tourism International Youth and Student Forum" on 20th April in Ulaanbaatar, Mongolia. (International youth organization and domestic youth)
The Government of Mongolia attaches the utmost significance to this event, with the honorable H.E Mr. Oyun-Erdene Luvsannamsrai, Prime Minister of Mongolia, gracing the occasion with his inaugural address. On behalf of the Government of Mongolia, I am pleased to extend a personal invitation to you and/or your representative (s) to participate in "Tourism Week 2024." We invite you to showcase your organization's contributions to the development of tourism in Mongolia, and share your expectations for Mongolia's tourism future during the Conference (exact timing to be communicated separately). We are optimistic that this gathering will facilitate meaningful discussions and pave the way for enhanced cooperation towards the advancement of Mongolia's tourism industry on the international stage. Please find attached the tentative program for the event. For further details and logistical arrangements, please do not hesitate to contact Mr. Sukhsuren, Office Manager at MTO, via email at info@mto.mn or by phone at +976 88454340. Attached Tentative Programme of “Tourism Week 2024”
Your prompt confirmation of attendance would be greatly appreciated.
Yours Sincerely, Ministry of Environment and Tourism Mongolia Tourism Organization |
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| In itsflagship economic report, Asian Development Outlook (ADO) April 2024, the Asian Development Bank (ADB) projects that Mongolia’s economy will grow at 4.1% in 2024, compared to 7.0% growth in 2023. Growth in 2024 will be supported by mining and higher government spending, though the agriculture sector is expected to contract as Mongolia suffers from one of its worst winters in recent memory. The report also projects that gross domestic product growth in 2025 will climb to 6.0%, driven by an agriculture sector recovery, mining expansion, and services growth.
Source: Montsame news agency |
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| The Mongolian economy grew by 7 percent last year, with a surplus balance of payments and a balance of trade, indicating that the economy is stabilizing. The positive tendency is driven by the growth in the mining and transport sectors. Currently, Mongolia has foreign reserves of USD 5.2 billion, leading to the exchange rate being stable. The exchange rate tightened by 2 percent last year, and this trendwill continue this year. Inflation reached 7 percent in March of 2024, which is the target level of the Central Bank’s policy. Therefore, the tight monetary policy has been loosed, lowering the policy interest rate from 13 percent to 12 percent. If the situation continues to be stable, there is a possibility to reduce it again, noted the Governor of the Bank of Mongolia. In addition, commercial banks launched an IPO totaling MNT 470 billion last year, thereby improving the bank’s financial capabilities. |
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| Please kindly take a part in our partner's survey of E-Business platform |
| Within the framework of "Vision-2050" Mongolia's long-term development policy and New Revival policy, the "Process re-engineering project for E-Business platform" is being implemented. The purpose of the project is to develop proposals for improving electronic services provided by the E-Business platform, including analysis of services related to registration and changes of legal entities with domestic and foreign investment, and identifying ways to make public services for legal entities easy, understandable and fast.
The project unit intends to collect detailed information about the use of E-Business systems from the private sector within the project. Therefore, the team kindly asks you to cooperate in supporting as taking a survey.
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Copyright (C) 2024 EuroChamber. All rights reserved.
Our mailing address is: info@eurochamber.mn |
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![[Photo] EuroChamber Health Working Group meeting #1](https://eurochambermn.glueup.com/resources/public/images/fixed-width/600/5c8a9121-37ab-46d7-9671-c76b9c1944a1.jpg "[Photo] EuroChamber Health Working Group meeting #1")
