We are delighted to announce that BAFS Mongolia is now a new SME category member of EuroChamber.
BAFS Clean Energy Corporation invest or joint invest in the projects relating to renewable energy and environment for both domestic and international, including providing administrative service, technical service, financial management and other support services related to the renewable energy and environmental business. We wish our mutually beneficial partnership be sound and successful. |
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EuroChamber Food and Beverage Working Group meeting held online |
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On August 1st, 2024, EuroChamber's Food and Beverage Working Group convened to discuss the Fund to Fight Against Alcoholism and outline the action plan for the rest of the year. The Working Group members agreed to focus on issues of mutual interest and to organize various meetings in partnership with government stakeholders. |
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| This call for applications is open to those looking to register a strategic project under the Critical Raw Materials Act. The CRMA the recognises and supports strategic projects along the critical raw materials value chain, helping to lower the risk of supply disruption.
Applications According to Article 7(1) of the CRMA, applications for recognition of a critical raw material project shall be submitted by the project promoters to the Commission. The application shall include the documents and information listed in that provision.
The call is open from 23 May 2024, 14:00 (CEST). The first cut-off date is on 22 August 2024, 12:00 (CEST). Applications should be prepared following the instructions provided on the online application form. |
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| The Mongolian National Mining Association (MNMA) proudly announces MinePro 2024, an international quarrying and mining exhibition and convention that marks a significant milestone in the mining industry. Scheduled from October 2-5, 2024, in Ulaanbaatar, this pivotal event is the centerpiece of Mining Week.
MinePro 2024 will unite global industry leaders, innovators, and stakeholders to discuss, share, and explore groundbreaking advancements shaping the future of mining.
Source: Bezinga.com |
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| Invitation to the Open Discussion for "2024-2028 Action Program of the Government of Mongolia" project |
| The three parties that won the most seats in the parliament as a result of the 9th regular election of the State Great Khural—namely, the Mongolian People's Party, the Democratic Party, and the People's Party—have signed a memorandum of cooperation for the period of 2024-2028 to jointly implement the agenda proposed during the regular elections of the State Great Khural. Within the framework of this memorandum, the "2024-2028 Action Program of the Government of Mongolia" project has been developed in accordance with the Joint Government Agreement. A discussion will be held to incorporate the opinions of representatives from the private sector and professional associations. We cordially invite you to attend this discussion meeting.
Location: Great Hall of MNCCI Date: August 5, 2024, at 1:30 p.m. Contact: 99107371, 99034043
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In the ninth parliamentary elections, 19 political parties and two coalitions presented their platforms. While party agendas had limited influence on voter choices, the future of Mongolia's mineral resources sector depends on the policies of the newly elected Parliament. Key parties including the Mongolian People's Party (MPP), the Democratic Party (DP), the Labour Party (HUN), the National Coalition, and the Civil Will-Green Party (CWGP) have outlined their mining policies.
Focus on Critical Minerals The global demand for critical minerals is surging due to sustainability efforts. Mongolia must define clear policies for investment, collaboration, and production development in this sector. The HUN is the only party explicitly stating a policy on critical minerals, aiming to regulate strategic deposits as per global trends. The MPP intends to focus on lithium, silicon, and rare earth elements, while the DP supports projects for rare earth processing plants, emphasizing rapid economic growth through mega projects.
Geological Exploration and Investment The MPP, DP, and HUN emphasize the need for geological exploration, although Mongolia has seen a decline in investment in this sector. The HUN plans to curb illegal license sales, while the MPP promises to revoke illegally issued licenses. The DP covers extensive mining-related issues but lacks a clear exploration licensing policy. All parties call for increased geological exploration and foreign and domestic investment but offer few innovative ideas.
Manufacturing and Industrial Development The National Coalition focuses on industrial development, proposing solutions for challenges faced by Mongolian manufacturers. They emphasize strategic investments, infrastructure projects, and training skilled personnel. The MPP plans to establish seven types of processing plants, including oil refineries and copper processing complexes. The DP supports private sector-led heavy industrial park investments, while the HUN advocates for private sector production of value-added products through policy and tax regulations.
Environmental Protection All parties support reducing environmental impact and promoting sustainable mining practices. The CWGP emphasizes responsible mining and maintaining regulatory oversight. None of the elected parties proposed policies against mining, recognizing its economic importance. The MPP favors strong state involvement, the DP supports private initiatives, the HUN addresses historical challenges, the National Coalition prioritizes industrial development, and the CWGP aims to diversify the economy beyond mining revenues.
Source: mininginsight.mn |
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| At the invitation of Mongolian President Khurelsukh Ukhnaa, Swiss President Viola Amherd is on a State Visit to Mongolia from August 2-4, 2024.
During their meeting at the State Palace, both Presidents expressed satisfaction with the growing friendly relations between Mongolia and Switzerland, highlighting shared democratic values such as human rights, freedom, and the rule of law.
President Khurelsukh emphasized Switzerland's support for Mongolia's transition to democracy and market economy, acknowledging the impact of various Swiss-funded projects on Mongolia's social and economic development.
The two leaders reaffirmed their commitment to strengthening the achievements of their 60-year diplomatic relationship and cooperating on issues of mutual interest. They discussed joint efforts to address global challenges like climate change, desertification, and environmental degradation. Diplomatic relations between Mongolia and Switzerland were established on May 22, 1964.
Source: montsame.mn |
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| The top five banks in Mongolia have a combined net income of MNT 867.8 billion in the first half of 2024, while it was MNT 546.7 billion in the same period of 2023, as shown in the Statistics.
According to the financial report of commercial banks in the first half of 2024, KhanBank took the lead with a net income of MNT 290.4 billion. While, Golomt Bank’s net income in the first half was 273.1 billion, which is an increase of 249.1 percent compared to the same period of last year.
- Golomt Bank earned MNT 273.1 billion; an increase of 249.1 percent compared to the previous year.
- Trade Development Bank's net profit reached MNT 174.1 billion, 89 percent increase
- Xac Bank - MNT 85.3 billion, a 37.2 percent increase
- Khan Bank - MNT 290.4 billion, a 6.8 percent increase
- State Bank earned MNT 44.8 billion, a 6.3 percent increase.
Source: montsame.mn |
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On January 12, 2023, the Parliament of Mongolia approved the establishment of "New Kharkhorum" city in the Orkhon Valley to promote balanced urban and rural development, and support history, culture, and tourism. An international competition for the city’s concept involved 36 teams from 8 countries, with the best designs showcased. D.Amarbayasgalan, Chairman of the Parliament, highlighted parliamentary support for the project and created a working group for its development.
The city plans include an international airport, a highway network connecting Choir, Mandalgovi, Arvaikheer, and Kharkhorum, a tourist highway from Murun to Tsetserleg and Kharkhorum, and a railway from Ulaanbaatar to Kharkhorum. These developments aim to enhance regional growth, especially in the Gobi, Khangai, and Western regions.
Source: mongolia.gogo.mn |
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Mail to communications@eurochamber.mnfor inquiry. |
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