| Since its establishment in 2019, EuroChamber Mongolia has changed its brand image for the first time. Rebranding is tailored by our Corporate member Bat Solution Partners, a Branding & Communications Strategy specialized marketing agency.
BSP aimed at developing the corporate identity of EuroChamber with more dynamic image and comprehensive design, covering the essential components of the brand, ensuring consistency and coherence across all platforms and media. |
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| NitoTech LLC extended its membership |
| Eurochamber is pleased to announce that our SME member NitoTech LLC extended its membership. NitoTech LLC is a fast-growing tech company developing the automated, data-driven, cloud-based hiring platforms Nito and Goodjob. Nito aims to make every workplace happier, more productive and innovative by transforming the way employers and candidates find the right fit.
Today, 430 top Mongolian companies and over 30,000 individual talents are using the platform. NitoTech mission is to utilize the power of technology and innovation to bring about a radical shift in the way people work, hire, and get hired, and help foster a more transparent, just, healthy, humane, and innovative work culture and environment in the labour market.
Thank you Nito for long lasting cooperation. |
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NEW BOARD MEMBERS OF EUROCHAMBER
As a result of election held during the Annual General Meeting of EuroChamber Mongolia, EuroChamber Mongolia appointed two new Board members in their Board of Directors. Mr. Mendbayar Tseveen represents Corporate Plus category members and Mr. Munkhdalai Batjargal represents SME category members.
We're delighted to have you join our board. Your knowledge and leadership are much appreciated, and we look forward to achieving great things together. Best of luck! |
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Mendbayar Tseveen Board member (Corporate Plus category) |
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Munkhdalai Batjargal Board member (SME category) |
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Mr. Mendbayar Tseveen is currently running as the CEO of lntelmind LLC which he originally co-founded. He is a serial entrepreneur and a prominent figure in the local start-up scene.
Over the last 10 years of his career, he has held numerous management positions in diverse sectors ranging from construction, energy, and technology to trading. He has led technology-driven businesses, co-founded the lntelmind Group, and successfully introduced projerts such as Shoppy.mn, Cody, Joinme and Coinhub. ln recent years, he has been giving public speeches and leading panel discussions at conferences and events to motivate the youths and contribute to industry development through sharing his expertise in e-commerce, business management and technology innovation. |
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Mr. Munkhdalai Batjargal is the CEO of Nitotech LLC, a leading HR-tech company in Mongolia. He has held various strategic roles, including CEO of Unegtiin Uul LLC and Project Manager at Monnis Mining Equipment LLC. Known for his expertise in strategic planning, business development, and team leadership, Munkhdalai is dedicated to fostering growth and innovation in the traditional industries, including public transportation and mining.
He holds a Master’s Degree in Mining and geotechnical engineering from the Freiberg University of Mining and Technology, Germany. |
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JOINT STATEMENT ON THE IMPACT OF REGULATORY ACTIONS ON KEY ECONOMIC SECTORS
EuroChamber collaboratively with other representatives of businesses in Mongolia, expressed a joint concerns about the recurring actions such as organizing overlapping inspections, disseminating biased information to the public, halting operations, and infringing on private property, particularly within key economic sectors. |
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UPCOMING MEETINGS OF EUROCHAMBER WORKING GROUPS |
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| The 14th Mongolia Economic Forum will be held at the State Palace of Mongolia, under the theme “Go Mongolia”, on July 8-9, 2024.
This year’s Forum will hold separate sessions on the following subjects, “Regional Development”, “Green energy and energy liberalization”, “Urban Development and Architecture”, “Intensified Agriculture”, “Tourism”, “Investment Policy, Zoning, and Taxation”, “Finance, Securities Market, and Digital Economy”, “Mining-Heavy Industry”, and “Science and Technology, Artificial Intelligence.”
Richard Austin Quest, an international business correspondent and news anchor at CNN, is invited to participate as moderator at the “Mongolia Economic Forum” this year.
Held annually since 2010, the Mongolia Economic Forum has become a traditional platform for discussions among public and private sectors, and foreign and domestic representatives from business and economic sectors. Around 2000 guests and officials will attend the 14th “Mongolia Economic Forum.”
Source: Montsame.mn |
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- EBRD provides US$ 10 million to support Khan Altai Resource mining operation
- Sustainable infrastructure and advanced technologies
- New jobs for local population
The European Bank for Reconstruction and Development (EBRD) is supporting sustainable mining operations and creating new employment opportunities in rural areas of Mongolia by providing funds to Khan Altai Resource (KAR), a special purpose gold mining company based in the Gobi Altai province of south western Mongolia.
KAR, a fully-owned subsidiary of the EBRD’ long-term client and a national sustainability leader Max Group, will receive a loan of up to US$ 10 million (€9.2 million) to procure specialised equipment for mining and processing purposes. This will help KAR, one the founding members of the Mongolian Responsible Mining Initiative, to put in place a sustainable infrastructure based on the advanced technology to process and produce gold bars with the minimum environmental impact. As at June 2024, the EBRD has invested €2.36 billion in Mongolia’s economy through 145 projects. Around 90 per cent of these funds have been channelled to support private-sector companies.
Source: ebrd.com |
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Since May 23, the European Union's Critical Mineral Raw Materials Act has been officially enforced. This act, initially discussed at the end of 2022, was swiftly implemented—a notable achievement attributed to the association's 2011 list of critical minerals, subject to review every three years.
When compiling the list of critical minerals, the European Union prioritized two main objectives: ensuring a stable supply of essential raw materials and facilitating the transition to clean energy—a focus shared by technology producing nations like the United States, South Korea, and Japan.
The European Union has set a target, outlined in the act, to limit imports of 34 critical minerals from third countries to no more than 65% of annual needs by 2030.
Among these third countries is China, a significant source of critical minerals, but the European Union aims to reduce dependency on it. It's anticipated that the act will aid in diversifying import sources, with a growing focus on increasing imports from Africa and the 11 ASEAN countries. Simultaneously, in Mongolia, the second seminar titled "Critical Minerals: Mongolian and Global Trends, Policies, and Practices" (May 22, 2024) was held.
During the seminar, Dagva. M, president of the association, announced that these 11 minerals would be formally presented to relevant authorities starting from the upcoming fall. This initiative signals Mongolia's nascent steps toward establishing a framework for critical minerals. Presently, nine of the minerals identified by the association are encompassed within the European Union's strategic raw materials list. This alignment also extends to the critical minerals identified by the Republic of Korea and Great Britain, both of which are actively engaging in discussions concerning our country's critical minerals.
Mongolia's first tentative list of critical minerals, comprising 11 minerals: molybdenum, manganese, nickel, copper, fluorspar, graphite, rare earth elements, cobalt, lithium, platinum group metals, and tungsten.
Source: mininginsight.mn
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| At the Plenary Meeting of the 78th Session of the United Nations General Assembly on June 19, a resolution initiated by Mongolia to designate 2025 as the International Year of Cooperatives was adopted. This initiative follows Mongolia's long-standing tradition, since the 1980s, of successfully promoting the resolution “The Role of Cooperatives in Social Development”, which the UN General Assembly adopts every two years.
Building on the success of the 2012 International Year of Cooperatives, this new proclamation aims to further support the global cooperative movement and contribute to the Cooperatives' 2030 Sustainable Development Agenda. Member states backed this initiative based on past achievements.
The Ministry of Foreign Affairs of Mongolia noted that some activities within the framework of the resolution proclaiming 2025 as the International Year of Cooperatives align closely with the Government of Mongolia's “New Cooperative - Wealthy Herder” Program.
Source: theubpost.com |
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| For the last 30 years or so, ADB has been an unwavering partner of Mongolia, supporting the country’s development in various sectors, such as public sector management, transport, energy, urban development, health, social protection, education, and trade facilitation. With regards its contribution, ADB’s Country Director for Mongolia, Shannon Cowlin has recently sat with us to talk about the bank’s involvement in Mongolia’s development in the past as well as future. ADB has shifted its focus on inclusive and climate-conscious development whilst still improving infrastructure to help economic diversification and resilience and Shannon has shared about the shift with us.
To read the full interview, click read more...
Source: theubpost.com |
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| As of June 1, 2024, 318,000 hectares of land have been cultivated nationwide. Grains were planted on 236,000 hectares, technical plants on 52,900 hectares, fodder crops on 10,000 hectares, potatoes on 8,300 hectares, and vegetables on 7,200 hectares. The total cultivated area decreased by 59.9 (15.8%) thousand hectares from the same period last year. Vegetables increased by 1.0 (16.9%) thousand hectares, cereals decreased by 55.4 (19.0%) thousand hectares, technical plants by 6.9 (11.5%) thousand hectares, potatoes by 2.5 (22.9%) thousand hectares, and fodder decreased by 0.4 (3.8%) thousand hectares.
Source: mongolia.gogo.mn |
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