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EuroChamber hosted "Funding HER Dreams," a commemorative event in celebration of International Women's Day on March 6th, 2024. The primary aim of "Funding HER Dreams" was to create a platform that not only honors International Women's Day but also actively promotes and supports women by exploring opportunities for financial backing and investment in their businesses. To accomplish this objective, the event featured three panels.
In Panel 1, Ambassadors Axelle Nicaise (EU to Mongolia), Giovanna Piccarreta (Italy to Mongolia), and Sandra Choufani (Canada to Mongolia) presented initiatives from their respective countries aimed at investing in businesses led by women.
In Panel 2, Matilda Dimovska (UNDP Resident Representative in Mongolia), Rufat Alimardanov (IFC Resident Representative in Mongolia), Hannes Takacs (Head of EBRD in Mongolia), and T. Aldarsaikhan (Executive Director of Oyu Tolgoi Catalytic Fund) shared funding opportunities for women entrepreneurs.
In Panel 3, Bolorsaikhan Badamsambuu (Secretary and Head of the Office, National Committee for Human Rights), O. Bayarsaikhan (Chair of Gender Committee, ToC Association - Mongolian Sustainable Finance Association, and TDB), and Munkhdul Badral (CEO of Cover Mongolia ) participated. Here are some highlights from the event:
B.Munkhdul: The apparent reverse gender gap today, where women are more educated and men remain in the countryside, is a result of the lack of rights for women from the outset. In rural areas, women do not inherit anything, and even awards for prominent herders are given to husbands rather than wives, despite herding livestock being a joint effort.
For those men who feel threatened by strong women, I encourage you to change your perspective. Strong women are not only admirable but also attractive. Men who openly support feminism also project an appealing image and may find increased success in their personal lives. I wish I had been aware of this earlier in my own life.
O.Bayarsaikhan: While it may be perceived that women are dominant, especially in Mongolian households, the reality is different. According to the Global Gender Gap report, Mongolia ranks 80th out of 146 countries, indicating disparities in economic participation, educational attainment, and political empowerment. Although women may hold more power in households, societal gaps persist from centuries past, emphasizing the need for support for women.
Addressing gender issues is not merely an act of charity; it is an essential business perspective. From a banking standpoint, women are crucial customers because they tend to 1) deposit more money, 2) borrow manageable amounts and repay reliably, and 3) positively influence others if satisfied with banking services.
B.Bolorsaikhan: Gender equality is a fundamental aspect of human rights. The patriarchal mindset is deeply programmed, necessitating a shift in perspective. Various tools are available to facilitate this change. - UN Global Compact partipants from Mongolia including private actors;
- Human rights impact assessment tool developed by National Human Rights Commission;
- BHR knowledge pool for Mongolia;
- UN SDCF 2023-2027 document;
- National Action Plan on Business and Human Rights 2023-2027 adopted by the GoM;
- National Action Plan on Open Government Partnership 2023-2027;
- National Human Rights Action Plan's intial draft led and developed by National Human Rights Commission;
- National Committee for Human Rights' YouTube Channel with various videos.
EuroChamber expresses its gratitude to IFC, Golomt Bank, Kite Mongolia LLC, and AKI International LLC for their sponsorship of the event. |
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EuroChamber is delighted to announce that MACU has renewed its membership with EuroChamber.
We look forward to the continued collaboration. |
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| St Patrick's Day 'EVE' Party |
| EuroChamber is delighted to extend an invitation to the St Patrick's Day 'EVE' Party scheduled for March 16th at 17:00 at Napa Bar-Olympic Galleria.
Please note that the event is organized by BritCham, and for any additional inquiries, kindly contact Mr. Sean Hennessy at sean.masha@gmail.com. |
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| Minister of Food, Agriculture, and Light Industry of Mongolia Meets Italian Ambassador |
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Bolorchuluun Khayangaa, the Minister of Food, Agriculture, and Light Industry of Mongolia, hosted a meeting with Giovanna Piccarreta, the Ambassador Extraordinary and Plenipotentiary of Italy to Mongolia, on March 1, 2024.
At the meeting, the two sides exchanged views on avenues for expanding cooperation between Mongolia and Italy in food, and agriculture, particularly focusing on light industries such as wool, cashmere, and leather, organizing the regular session of the mixed government commission of the two countries in Mongolia and the potential exemption of industrial technology park infrastructure and imported industrial equipment from value-added tax (VAT).
In this regard, Minister Bolorchuluun, representing the Mongolian Government, highlighted the potential to contribute to the eastern region's development and emphasized a new policy of exporting only combed and washed cashmere, effective June 1, 2024.
The Ministry of Food, Agriculture, and Light Industry also reported that Falconeri, an Indonesian company collaborating with Mongolia on wool and cashmere production, provided assistance and extended support to herders affected by dzud.
Source: montsame.mn |
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| “Eagle Festival - 2024” to Take Place on March 9-10 |
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One of the peculiar features of Mongolian winter tourism, the “Eagle Festival” will be held for the 14th time at Chinggisiin Khuree Tourist Complex at the outskirts of Ulaanbaatar City on March 9-10, 2024.
Most activities of the annual Eagle Festival are organized as competitions. The parade of the eagle hunters dressed in traditional costumes and mounted on horseback, proudly displaying their most trusted friend, "Eagles," on their hands, commences the Festival. The Festival selects the Best Traditional Costumes, the Best-Looking Eagle, and the Best-Looking Horse, considering the preservation of traditional Mongolian customs and attire.
The remarkable tradition of domesticating and hunting birds of prey is known as "Falconry” and originated six thousand years ago among the nomads of Central Asia. Therefore, Mongolian eagle hunting practice was registered on UNESCO's Representative List of Intangible Cultural Heritage of Humanity in 2010.
The Ulaanbaatar City Tourism Department, Chinggisiin Khuree Tourist Complex, and the Mongolian Falconry Association will jointly host the Festival in anticipation of the Mongolian Kazakhs' Nauryz, a celebration marking the spring season. The Eagle Festival aims at demonstrating and preserving the unique traditions, heritage, and culture of the Kazakh people, passing them on to the next generation.
Source: montsame.mn |
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| The official foreign currency reserves have reached US$4.9 billion |
| According to the Bank of Mongolia, our official foreign currency reserves have reached US$4.9 billion. Although foreign exchange reserves reached US$4.8 billion in April 2021, there has been a subsequent decline.
The Bank of Mongolia is committed to ensuring the ability and reliability of the foreign currency state reserves it owns and manages, facilitating prompt settlement of foreign payments.
Source: gogo.mn |
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| Food Revolution: Meeting Over 80 Percent of National Egg and Salt Demand Domestically |
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The third consultative meeting of the implementation organizations for Resolution No. 36 of the State Great Khural of Mongolia on “Some Measures to be Taken to Ensure Food Supply and Safety” took place at the State Palace of Mongolia on March 5, 2024.
At the Meeting, Head of the Office of the President of Mongolia Sodbaatar Yangug said, “President of Mongolia Khurelsukh Ukhnaa initiated a draft resolution aimed at ensuring Mongolia's food supply and security, which was subsequently approved by the Parliament as Resolution No. 36. More than a year has passed since its adoption. We have been assessing the progress of our work every six months. In the past, President Khurelsukh personally visited 65 enterprises, including 57 food factories, and gained firsthand knowledge of their operations. We established the “Food Revolution” NGO and the Council of Scientists under the Office of the President.”
Mr. Sodbaatar elaborated: "When examining the tangible results achieved since the launch of the “Food Revolution” National Campaign, we can observe a significant increase in domestic vegetable production. Previously, 70 percent of the national demand for vegetables was met domestically, but this figure has now risen to a historical high of 85 percent."
“Last year, domestic supply of onions, garlic, and carrots increased by 3-12 percent. Mongolia achieved record-high meat exports. Furthermore, eleven new food factories were commissioned. Investments have been made in egg and salt production, creating the potential to fulfill over 80 percent of domestic needs within the next two to three years,” Head of the Office of the President of Mongolia highlighted.
“Most recently, the new building of the Research Institute of Plant Protection became operational. The United Nations, the World Bank, and the Asian Development Bank have pledged support for the "Food Revolution" National Campaign through various projects and programs. Mongolia will receive over USD 700 million from the Asian Development Bank to bolster food supply infrastructure and production efforts. Furthermore, the Mongolian government has provided financial support through MNT 830 billion in soft loans and over MNT 380 billion in tax benefits and incentives, amounting to a total investment of MNT 1 trillion. These substantial investments are expected to yield positive outcomes in the coming years,” continued Sodbaatar Yangug.
The consultative meeting focuses on the implementation of Resolution No. 36 of the Parliament approved in 2022 on "Some Measures to be Taken to Ensure Food Supply and Security" to accelerate the National Campaign "Food Revolution" initiated by President of Mongolia Khurelsukh Ukhnaa. Representatives from 57 organizations, including the President's Office, Parliament, the Government Secretariat, ministries, public organizations, professional associations, and academic councils, participated in the third consultative meeting.
Source: montsame.mn |
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