EuroChamber is delighted to announce that Rio Tinto has renewed its membership with EuroChamber as Corporate Plus.
We look forward to the continued collaboration. |
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EuroChamber is delighted to announce that Pernod Ricard has renewed its membership with EuroChamber as Corporate Plus.
We look forward to the continued collaboration. |
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EuroChamber is delighted to announce that Major Drilling LLC has renewed its membership with EuroChamber as Corporate Plus.
We look forward to the continued collaboration. |
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| EuroChamber's Annual General Meeting 2024 |
| EuroChamber Mongolia convened its Annual General Meeting on March 14, 2024, where several critical matters were discussed, including the 2023 report, the 2024 annual plan, amendments to the Charter, and the election of new board members. Through a majority vote, Ts. Mendbayar, the CEO of Intelmind Company, was elected to the Board representing Corporate Plus category members, while B., the CEO of Nito Tech LLC, joined as a board member in the SME category. The chamber ensured that all members had the opportunity to voice their opinions during the brainstorming session.
EuroChamber Mongolia expresses sincere gratitude to SOS Medica Mongolia, MSM Group LLC, CRM LLC, and Well Bee LLC for generously sponsoring this significant member meeting. |
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| EU Provides EUR 500 Thousand in Dzud Assistance to Mongolia |
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Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai received Ambassador of the European Union to Mongolia Axelle Nicaise on March 14, 2024.
At the Meeting, Ambassador Axelle Nicaise presented a certificate confirming the European Union's EUR 500 thousand humanitarian assistance in response to Mongolia's current severe winter conditions to the Prime Minister of Mongolia.
Prime Minister Oyun-Erdene expressed gratitude on behalf of the Government of Mongolia and the people of Mongolia for the EU support to Mongolia in times of challenge and need. The humanitarian assistance will be delivered to 1,850 herder households affected by the dzud.
The meeting touched upon the possibility of expanding trade and economic cooperation between the two sides. The Premier and the Ambassador emphasized the importance of effectively celebrating the 35th anniversary of diplomatic relations between Mongolia and the European Union this year.
The Prime Minister commended and thanked the European Union and the European Investment Bank (EIB) for their recent development contributions, which include a first tranche of a soft loan of EUR 45 million from the European Investment Bank and grant aid of EUR 9.4 million from the European Union for the “Aimags and Soums Green Regional Development Investment Program (ASDIP)” and a Memorandum of Understanding on Forestry between the Ministry of Environment and Tourism in Mongolia and the EIB.
Discussion continued around the ongoing and future projects and programs as part of Mongolia's long-term development policy "Vision 2050," "New Revival Policy," the EU’s “Global Gateway,” and "Green Deal."
Source: montsame.mn |
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| The 2024 spring session of the Great Khural of Mongolia started today |
| The regular spring session of the Great Khural of Mongolia began today, March 15, 2024, at 10:06 a.m., with a 55.0 percent attendance rate of members of the parliament.
At the session's outset, Prime Minister L.Oyun-Erdene, along with government members, the Chief Judge of the Supreme Court, the head of the Office of the President of Mongolia, and other high-ranking government officials were present. Additionally, heads of organizations directly reporting to the State Great Khural and the leaders of the capital attended in person, while heads of diplomatic missions and international organizations in Mongolia were invited to participate online.
Source: parliament.mn |
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| Mongolia and the EU to Partner in Regional Green Development |
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Minister of Finance of Mongolia Javkhlan Bold, Ambassador of the European Union to Mongolia Axelle Nicaise, and Vice-President of the European Investment Bank (EIB) Teresa Czerwińska signed an Agreement on the "Aimag and Soum Centres Green and Resilient Regional Development Investment Program” on March 12, 2024, at the Ministry of Finance of Mongolia.
Specifically, the Agreement is worth EUR 54.4 million, including EUR 9.5 million European Union’s investment grant to support the program. The European Union will contribute a grant aid of a total of EUR 19.5 million for the program.
The program will upgrade the basic infrastructure of Mongolia’s aimags and soums, including the construction of wastewater treatment plants and affordable housing, energy efficiency renovations, and improvements in public buildings, schools, and hospitals. The program will also improve flood protection and rainwater drainage and expand the use of solar power in public buildings.
The scheme will increase financing for sustainable private sector investment by local agriculture and agribusiness and include dedicated support for herder groups to better manage grasslands by reducing overgrazing and adopting more sustainable livestock practices. The program is expected to create approximately 160 thousand direct and indirect jobs and protect more than 29 million hectares of grasslands in the long term. It is estimated that the program will save 126 million tons of carbon dioxide emissions over 40 years.
The "Aimag and Soum Centres Green and Resilient Regional Development Investment Program" is closely aligned with the Food Revolution National Campaign initiated by the President of Mongolia, the Paris Agreement, which Mongolia joined, and the New Revival Policy of the Government of Mongolia and its development goals of Rural Revival and Green Development, which are reflected in the country's long term development policy.
Source: montsame.mn |
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| Chairman Zandanshatar Pays a Courtesy Call on the Hungarian President |
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Chairman of the State Great Khural of Mongolia Zandanshatar Gombojav paid an Official Visit to Hungary at the invitation of Speaker of the National Assembly of Hungary László Kövér.
During the visit, Chairman Zandanshatar paid a courtesy call on President of Hungary Tamás Sulyok on March 7, 2024.
Tamás Sulyok, with experience working in private law firms and involvement with the Constitutional Court since 2016, initially as a Member and later as Deputy President, assumed the role of President of the Constitutional Court in 2016. Nominated by the Fidesz party, Tamás Sulyok took the oath of office on February 26, 2024, and officially assumed the position of President on March 5, 2024.
Mr. Zandanshatar was warmly received by President Tamás Sulyok, marking the president's first esteemed guest after assuming office.
At the meeting, G. Zandanshatar expressed gratitude to President Tamás Sulyok for taking the time to meet and conveyed sincere congratulations of Mongolian President Khuressukh Ukhnaa on his appointment.
Hungary is one of Mongolia's most reliable partners in Europe, and expanding relations and cooperation in all fields between the two countries is a priority of Mongolia's foreign policy. Mongolia and Hungary established diplomatic relations on April 28, 1950, and have friendly relations and cooperation.
“We are pleased to acknowledge the two countries' longstanding friendly relations and cooperation. There is a saying, "A friend in need is a friend indeed." We express our deep gratitude to the Government of Hungary for donating much-needed medical equipment to Mongolia to help us overcome the challenges posed by the COVID-19 pandemic," said Mr. Zandanshatar.
In addition, Chairman Zandanshatar highlighted various collaborative efforts between the two countries, including the decision to commence construction on significant projects, such as the Baidragyn hydropower plant, a symbol of Mongolia-Hungary cooperation.
President Tamás Sulyok expressed satisfaction with the intensifying relations and cooperation between Mongolia and Hungary in recent years as a result of the efforts of the two sides and emphasized commitment to further strengthening inter-parliamentary cooperation between Mongolia and Hungary.
Source: montsame.mn |
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| Central bank raises its policy rate |
| The Monetary Policy Committee (MPC) of the Bank of Mongolia convened its scheduled meetings on March 15 and 16, 2022. After thorough consideration of the prevailing economic and financial market conditions, as well as the anticipated domestic and international economic outlook, the MPC opted to raise the policy rate to 12.0 percent. A decision was also reached to allow banks to restructure defaulted loans for herders and extend the repayment period.
The information provided by the Bank of Mongolia regarding today's decision highlighted that nationwide annual inflation in February 2024 reached 7 percent, with a slightly higher rate of 7.2 percent observed in Ulaanbaatar. Furthermore, it emphasized that the monetary policy implemented by the Bank of Mongolia, along with decreasing inflation in trade partners and the strengthening of the MNT exchange rate against foreign currencies, significantly contributed to the overall reduction in inflation.
Source: ikon.mn |
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| Macron, Scholz and Tusk set to meet in Berlin over Ukraine rift |
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After a clear-the-air meeting in the chancellery, the pair will be joined by Polish Prime Minister Donald Tusk for urgent consultations on further European military backing for Kyiv.
Ukraine has faced a series of battlefield setbacks in repelling Russian troops, as its forces have faced critical shortages of ammunition and aid from Western allies has stuttered.
A massive US aid package of $60 billion (55 billion euros) remains blocked in Congress by right-wing Republicans, and President Joe Biden has acknowledged that $300 million of stopgap support announced Tuesday was "not nearly enough".
It falls to Paris, Berlin and Warsaw "to mobilise all of Europe" to provide Ukraine with fresh aid, Tusk said.
But simmering disagreements between Macron and Scholz threatened to undermine cooperation between the allies.
Debates between France and Germany "may have culminated in what we have seen in the last weeks, but there have been difficulties for quite a long time now", said Nico Lange, an analyst for the Munich Security Conference (MSC).
Source: france24.com |
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