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We are pleased to announced that Exponential Zaisan Partners (XZP) has joined Eurochamber as an SME member.
Exponential Zaisan Partners is an early stage Mongolia-focused fund to assist the most promising founders with global expansion and follow on funding, leveraging GP’s role as ecosystem leader and its global network of prominent industry leaders.
XZP's BHAG is to help create three one-billion dollar companies by 2030.
|EuroChamber's "Innovation & Digitalisation" Working Group Meeting|
EuroChamber's "Innovation & Digitalisation" Working Group successfully hosted its esteemed "Innovation Leader" series on July 6th, 2023.
We had the privilege of welcoming Ms. Bolormaa Luvsandorj, Chairwoman of the Innovation & Digitalisation WG at EuroChamber Mongolia, as she inaugurated the event with her insightful opening remarks.
The series featured two prominent speakers who shared their expertise and knowledge. Mr. Francesco Cracolici, Venture Partner at Crossfund & EBRD, delivered a captivating presentation on the "EBRD Star Venture Accelerator Program." Additionally, Ms. Gema Gerelsaikhan, Managing Partner at Exponential Zaisan Partners, shared valuable insights about the "MonJa Startup Accelerator Program & Grant."
Moreover, we were honored by the presence of Mr. Stefano Sannino, the Secretary General of the European External Action Service (EEAS), and H.E. Ambassador Axelle Nicaise at our Working Group meeting.
We are also thankful for Exponential Zaisan Partners for sponsoring the event.
|EuroChamber's office will be closed from July 10-26, 2023|
Please note that EuroChamber will be closed from July 10th to July 26th, 2023.
If you have any urgent matters that require immediate attention, please contact at 9575-2050 or send an email to firstname.lastname@example.org.
|Invitation to the Mongolian Economic Forum on July 9-10|
Mongolia Economic Forum is the Nation’s premier platform to address pressing economic and social issues facing Mongolia and more importantly, solutions to help accelerate Mongolia’s development.
Since 2010, Mongolia Economic Forum, a politically independent, non-profit, non-governmental organization, has been convening the highest level representatives from the Government, private sector, civil societies, academia, and international organizations for an annual two-day discussion forum.
This year’s event follows Mongolia’s strong recovery from the COVID-19 pandemic, with the economy having grown at a faster than expected rate of 4 percent in 2022 with high levels of growth forecast for both this year and 2024 respectively.
Key Discussion Areas:
- Mongolia’s role in the global supply chain
- Mongolia’s role in regional trade integration
- The business and investment environment in Mongolia
- Mongolia as a regional business hub
Opportunities for delegates:
- Get the latest insight on economic developments within Mongolia
- Explore potential partnership opportunities for forthcoming projects
- Engage in peer-to-peer dialogue with key decision makers
- Hear keynote addresses from high-level professionals
|The 2023 spring regular session of the State Great Khural has ended|
During the general session of the 2023 spring regular session of the State Great Khural on July 7, 2023, the draft resolution titled "On measures to be taken in connection with the amendments to the Constitution of Mongolia" was discussed.
During the general session, Kh. Nyambaatar, a member of the State Great Khural, presented the opinions and conclusions about the discussion of the draft resolution at the meeting of the Standing Committee on State Development. In order to enhance the capacity for analyzing draft legislation and conducting legal research, as well as to expand the parliamentary research institute, the draft resolution includes establishing a time frame, allocating a budget, and considering the costs associated with transferring the building of the National Legal Institute to the Secretariat of the State Parliament.
During the discussion, J. Batsuuri, a member of the State Great Khural, voiced his opinion regarding the Standing Committee's conclusions. In the conclusions drawn from the discussions, it is stated that the State Great Khural should avoid exerting any influence that could hinder the independent and professional activities of lawyers and researchers.
The resolution of the State Great Khural titled "On measures to be taken in connection with the amendments to the Constitution of Mongolia" was approved by a majority of the attending members during the session of the State Great Khural.
Following the approval of the resolution, the Speaker of the State Great Khural, G. Zandanshatar, proceeded to read out the final drafts of the approved laws and resolutions, providing an official announcement of their acceptance.
With the reading of the final drafts of approved laws and resolutions by the Speaker of the State Great Khural, the 2023 regular spring session of the National Assembly came to a close.
|Speaker of Lok Sabha of India Om Birla visits Mongolia|
On July 7th, 2023, the Chairman of the State Great Khural of Mongolia, G. Zandanshatar, warmly received Om Birla, the Speaker of the Lok Sabha (Lower House of the Parliament) of India, who was on an official visit to Mongolia. The welcoming ceremony took place at Sukhbaatar Square.
Subsequently, official talks between Chairman G. Zandanshatar and Speaker Om Birla were held at the State Palace
|Elon Musk's Starlink is now authorized to operate in Mongolia.|
On July 6, 2023, the Telecommunications Regulatory Commission officially granted Starlink Services Mongolia a special license to operate its services. This development enables Starlink to extend high-speed internet connectivity to remote areas in Mongolia, fostering economic growth, job creation, and attracting investments.
SpaceX, the parent company of Starlink, has successfully launched satellite-based internet services in over 50 countries worldwide, including Mongolia. Rebecca Slick Hunter, Senior Manager of Government Affairs at SpaceX, emphasized Mongolia's significance as an important market. Additionally, the satellite dish that will be used for the service was introduced as part of the announcement.
The device offered by Starlink for internet connectivity operates simply by requiring a power source. The signal received from the satellite is then transmitted as an internet network via Wi-Fi. Notably, the installation of the satellite dish does not require fixed infrastructure or any connection lines. Additionally, it is designed to be lightweight and portable, offering flexibility in terms of installation and mobility.
|A total of MNT 8.4 billion will be provided as compensation in the case of alleged damage to foreign invested companies.|
Over the past six years, the State General Prosecutor's Office of Mongolia has opened and investigated a total of 342 complaints and information regarding crimes harming foreign investors. Among these cases, 239 investigations were carried out specifically for damage incurred by foreign investors, while 103 investigations were conducted in response to related complaints.
The majority of the investigated cases are associated with investments in the mining sector and real estate. Among the cases that caused harm to foreign investors, 65.9 percent were fraud-related crimes. The remaining cases involved offenses such as embezzlement, theft, money laundering, environmental violations, threats to seize assets, and corruption-related crimes.
Among the alleged victims who are foreign investors, 44.5% are from China, 8.6% are from South Korea, and 28.5% are foreign investors from other countries. During the investigation process, a total of MNT 12.0 billion was provided as compensation to the affected parties.
Out of the 31 cases where foreign-invested enterprises were damaged or involved in, the prosecutor's office made indictments in 8 cases and transferred them to court for further proceedings. As a result of court decisions, it was determined that the damage amounting to MNT 8.4 billion should be compensated.
The working group is currently monitoring a total of 252 cases, which include 174 closed investigation cases, 174 dismissed investigation cases, and 78 ongoing investigations. In 83.3% of the cases under investigation, the prosecutor's office has issued specific orders for further actions to be taken.
Furthermore, four cases that had previously been closed due to incomplete investigation and failure to establish relevant facts, as well as cases that were dismissed due to the expiration of the statute of limitations, have been reinstated. These cases have now been submitted to the appropriate investigative authorities for further investigation.
Moving forward, detectives and prosecutors have been given instructions to expedite investigations, safeguard human rights, restore violated rights, and handle cases within a short timeframe.
Source: State General Prosecutor's Office
|Secretary General of the European External Action Service on a Working Visit|
Deputy Foreign Minister Amartuvshin Gombosuren today met Secretary General of the European External Action Service (EEAS) Mr. Stefano Sannino, who is on a working visit to Mongolia on July 4-7, the first high-level visit to Mongolia since 2018, after the outbreak of COVID-19.
They shared views on the current state of Mongolia and EU relations, its future tendency, and some international issues. Emphasizing the importance of an ongoing active mechanism of bilateral dialogue in expanding cooperation in mutually interested sectors, the Deputy Foreign Minister expressed his belief that the regular meeting of the Joint Mongolia- EU Committee, scheduled this month in Brussels will be held successfully.
Secretary General Sannino affirmed that as the third neighbor of Mongolia, the EU is committed to expanding and strengthening bilateral and multilateral relations further based on common values of democracy, human rights, and the rule of law.
|State Visit of Kyrgyz President to Mongolia after 21 years|
At the invitation of the President of Mongolia Khurelsukh Ukhnaa, the President of the Kyrgyz Republic Sadir Japarov will pay a State Visit to Mongolia on July 9-11, 2023.
The Head of State of Mongolia paid an Official Visit to the Kyrgyz Republic in 2019, and the Head of State of Kyrgyzstan is to visit Mongolia after 21 years.
In adherence to Mongolia’s policy of actively developing relations and cooperation with the countries of Central Asia, the visit is considered significant for enriching the relations between the two countries with economic content, and for advancing the development of cooperation in the fields of transport, logistics, agriculture, light industry, and tourism.
During the Visit the Head of State of the two countries will hold official talks and the President of Kyrgyzstan, Sadir Zhaparov will meet the Chairman of the State Great Khural Zandanshatar Gombojav, and Prime Minister Oyun-Erdene Luvsannamsrai.
At the official talks and meetings, the two parties are expected to discuss enhancing relations and cooperation between Mongolia and the Kyrgyz Republic, the states that have deep historical and cultural ties in the Central Asian region, promoting dialogue, strengthening mutual trust and the legal basis of relations, and intensifying regional and multilateral cooperation.
Kyrgyz President Sadir Japarov will attend the opening of the Naadam National Festival and other ceremonies as a guest of honor.
|National Anti-Corruption Program approved|
June 30, the resolution of the State Great Khural on “Approving the National Anti-Corruption Program” was approved during the plenary session. In this regard, we are presenting the full speech of Speaker of Parliament G.Zandanshatar.
“The National Anti-Corruption Program was first approved in 2016. This time, the National Anti-Corruption Program was approved with 11 goals. In this context, leadership and transparency in the fight against corruption in the political sphere will be improved by ensuring the transparency of political party financing and activities. The goal of strengthening the corruption-free and ethical public service that is trusted by the public will be implemented in the near future. Fighting corruption is not only a government task, it is also society task. That is why special attention should be paid to effective participation and effective control of citizens, civil society organizations, and media in anti-corruption activities. All over the world, social norms are changing and reforming, and an anti-corruption culture is being formed. Advances in social networks and technology provide new opportunities. The words ‘justice’ and ‘equal opportunity’ no longer have the characteristics of slogans, and civil society organizations, journalism, and social networks have begun to fight corruption and strengthen effective control. It is called ‘A new three-dimensional approach to fighting corruption’ all over the world. We need to be fully aware that this change is being made in accordance with this new culture and global approach.”
G.Zandanshatar then continued, “Representatives of government organizations and representative organizations should follow the demands and aspirations of society. We must work in accordance with the wishes of people. Shift from a vertical system to a horizontal system of responsibility. The transition of civil society organizations, journalism, professional supervision, and state supervision institutions to a horizontal system of supervision is confirmed by the recently approved ‘National Anti-Corruption Program’. The government will not fight against corruption alone, but will implement the program through collective and joint efforts. This program can be successfully implemented by making the public understand, enlighten, and be transparent about the reasons, conditions, and consequences of adopting and implementing such a policy. All laws and resolutions approved by Parliament include the idea of fighting corruption. The Law on Amendments to the Law on the Elections of Parliament of Mongolia was approved in order to conduct the regular elections of Parliament in a fair manner under the control of the public. The Law on the Ethics of Civil Servants was approved. For the first time, the Standing Committee on Justice has organized a hearing to analyze the evidence of the new norms of public hearings. The final discussion of the consolidated draft of the law on amendments to the law on regulation of public and private interests and prevention of conflicts of interest in public services was held.”
Speaker noted, “In my speech at the opening of the 2023 spring session of the Parliament, I noted that it will be a session that will improve the law and legal framework to fight corruption. Today, we continue this goal one step further and, in accordance with the results of public criticism and external research organizations, we approved the ‘National Anti-Corruption Program’ by making these changes and reforms to ensure the conditions of open and transparent government activities. To realize this, leadership, efforts and joint efforts to implement the national anti-corruption program, which is the first goal of the program, are essential. It is necessary to encourage and lead the development of this culture. It is time to effectively implement the ‘National Anti-Corruption Program’ with a deep awareness of the reality of social demands to tolerate corruption and conflicts of interest.”
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