| We are delighted to extend heartfelt congratulations to our premium member Golomt Bank on reaching a remarkable milestone—30 years of leadership and innovation in Mongolia’s financial sector. Since its establishment, the bank has played a pivotal role in driving economic growth, fostering financial inclusion, and supporting businesses and individuals in achieving their goals.
This achievement is a testament to the bank’s dedication to excellence, trust, and innovation. We recognize the invaluable contributions of its employees, partners, shareholders, and customers who have been part of this journey, shaping Golomt Bank into one of Mongolia’s most respected financial institutions.
As Golomt Bank embarks on its next chapter, we look forward to seeing its continued impact on the financial sector and beyond. Wishing the bank even greater success in the years ahead—investing in a brighter future! |
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| Invitation – Tastin’France Ulaanbaatar 2025 🍷🇫🇷 Business France is pleased to invite you to Tastin’France, an exclusive professional wine & food tasting event in Ulaanbaatar, Mongolia, on March 17, 2025. 📍 Location: Grand Venue Event Hall, Ulaanbaatar Hotel ⏰ Time: 14-17h For the first time, 16 esteemed French wine and food producers will present their finest selections to the Mongolian market. This is a unique opportunity to: ✅ Discover and taste premium French wines & food ✅ Meet and connect with leading industry experts ✅ Explore new business opportunities with French exporters We welcome importers, distributors, agents, wine merchants, restaurateurs, and media professionals to join this exclusive event. 🔗 RSVP by 16th March via the link below: Join us in celebrating the excellence of French wines and expanding your business horizons! 🍷✨ |
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| Happy International Women’s Day! |
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| Happy International Women’s Day from EuroChamber! |
| Today, EuroChamber proudly honors the achievements, strength, and resilience of women in business, leadership, and beyond. Women continue to drive innovation, foster economic growth, and inspire change across industries, shaping a brighter and more inclusive future.
As we celebrate this day, we reaffirm our commitment to gender equality, empowerment, and creating opportunities for women to thrive in every sector. Together, let’s continue supporting and uplifting the incredible women who make a difference every day. |
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The Bank of Mongolia’s Monetary Policy Committee has decided to increase the policy rate by 2 percentage points to 12%, marking a shift from the easing stance maintained since early 2024. This decision comes as inflation has accelerated in recent months, exceeding the central bank’s target level.
Inflation has risen to 9.6%, driven by both demand-side and cost-push factors, as well as the funding of major projects set to begin this year. These factors pose risks to the balance of payments and the exchange rate of the Mongolian tugrik, leading the central bank to project that inflation will remain above its target level throughout 2025.
Additionally, the Bank of Mongolia has warned of potential declines in the prices of key export commodities, such as coal and iron ore, due to weakening demand for steel. As part of its policy adjustments, the central bank has also decided to set the debt-to-income ratio cap for consumer loans at 50% for new loans and loan restructuring. Furthermore, for pension and welfare-backed loans, borrowers must retain a minimum income level above the national poverty threshold after making their monthly loan payments |
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| President of Mongolia to Pay State Visits to Czechia and Poland, Strengthening Diplomatic and Economic Ties |
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President of Mongolia Khurelsukh Ukhnaa will embark on State Visits to the Czech Republic and Poland in March, marking 75 years of diplomatic relations with both nations.
At the invitation of Czech President Petr Pavel, President Khurelsukh will visit Czechia from March 9-12, 2025, making it the first Mongolian Head of State visit to the country in a decade. He will then travel to Poland from March 13-14, 2025, at the invitation of Polish President Andrzej Duda, marking the first visit of a Mongolian leader to Poland in 12 years.
Strengthening Bilateral Relations During both visits, President Khurelsukh will hold tête-à-tête meetings, official talks, and press briefings with his counterparts. In addition, he will meet with the Prime Ministers and Parliamentary leaders of both countries to discuss key areas of cooperation. The Mongolian government aims to elevate its traditionally friendly ties with Czechia and Poland by signing multiple intergovernmental agreements and cooperation documents. Areas of collaboration will include education, environment, agriculture, sports, law, health, science, paleontology, archeology, media, culture, and the film industry.
Cultural and Economic Engagement To commemorate the 75th anniversary of diplomatic ties, the Morin Khuur Orchestra of Mongolia will perform concerts in Prague and Warsaw. Additionally, Mongolia-Czechia and Mongolia-Poland Business Forums will be held, offering opportunities for business leaders to explore economic partnerships and investment avenues. These visits underscore Mongolia’s commitment to strengthening its relations with European partners through diplomacy, trade, and cultural exchange. |
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| Mongolian Parliament and European Parliament Hold Successful Consultations on Key Issues |
| In a significant diplomatic development, the 17th consultative meeting between the Mongolian Parliament and the European Parliament group was held, where Mongolian representatives presented on sustainable development goals. The session included a Q&A with European Parliament members, focusing on various pressing issues such as Mongolia's economy, energy sector, digital transformation, agriculture, and gender-based violence.
The meeting was chaired by Mrs. Giuseppina Princi, the head of the European Parliament's Central Asia and Mongolia Relations Group, who guided the discussions.
Additionally, a meeting with David McAllister, Chair of the European Parliament's Foreign Affairs Committee, proved to be a success. The dialogue centered on the "Global Gateway" initiative and visa-related matters, with both parties reaching favorable solutions. McAllister also expressed his approval of an invitation to visit Mongolia, signaling further strengthening of bilateral ties. |
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Starting March 7, all state-owned museums in Mongolia will open their doors to the public for free as part of the "Museum Open Days" initiative. This annual event, established under Government Resolution No. 96 of 2024, designates the first week of March as a time to promote cultural heritage and historical awareness. However, due to this year’s Lunar New Year celebrations, the Ministry of Culture, Sports, Tourism, and Youth has rescheduled the event to March 7-13, 2025.
During this week, visitors will have free access to 35 state and local museums across the country. Special programs, including exhibitions, educational workshops, expert lectures, and interactive discussions, will be organized under the "Regional Development and Patriotism" initiative to foster public engagement and appreciation of Mongolia’s rich history and cultural treasures.
To encourage student participation, the Mongolian Student Union will host a speech contest and a debate competition among university debate clubs. Under the theme “Mongol History, Cultural Heritage, and Museums,” these events will provide young scholars with a platform to explore and articulate the significance of Mongolia’s historical legacy.
This initiative offers a unique opportunity for citizens of all ages to deepen their understanding of national heritage and engage in meaningful cultural experiences. |
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The European Central Bank (ECB) has cut its policy rate by 0.25 percentage points to 2.5%, marking the sixth consecutive rate reduction since June 2024. ECB President Christine Lagarde emphasized that inflation will take slightly longer to reach the central bank's 2% target than previously expected.
According to projections, inflation is now expected to reach the target level in early 2026 rather than by the end of 2025. Lagarde noted that energy prices will play a key role in this timeline. “Our forecast is based on the latest data, but factors such as energy prices, trade policies, potential countermeasures, and large-scale investment programs remain critical considerations," she stated. She also stressed that the ECB will take a cautious approach in determining future monetary policy direction. Following the announcement, the euro continued to strengthen, and government bond yields increased. Notably, the yield on Germany’s 10-year government bond rose by 5 basis points to 2.84%, reflecting market movement in response to the ECB’s decision. |
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| The European automotive sector is at a critical juncture, confronted with rapid technological advancements and intensifying global competition. In response, the European Commission has introduced a comprehensive Action Plan, building on the Strategic Dialogue initiated by President von der Leyen.
The plan prioritizes innovation, clean mobility, and sustainability by bolstering battery production, advancing autonomous vehicle technology, and accelerating the shift to zero-emission vehicles. It also outlines strategic initiatives to strengthen supply chain resilience, create high-quality jobs, and ensure fair competition.
The Commission's goal is to maintain Europe's global competitiveness while equipping the automotive industry to navigate future challenges and lead the transition toward a more sustainable, technologically advanced future. |
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The EU Commission has unveiled a plan to reduce corporate reporting requirements, aiming to cut costs and enhance competitiveness. The proposed changes would shrink the scope of social, environmental, and human rights reporting, covering only 20% of the companies originally envisioned. While the Commission estimates annual savings of €5bn—€4.4bn from corporate sustainability disclosures (CSRD) and €320m from due diligence on human rights and environmental impacts—critics argue that these savings are too small to have a meaningful impact on businesses’ finances. According to research, compliance costs represent only a small fraction of companies’ turnover and profits.
Some experts, like Professor Andreas Rasche, question whether reduced reporting costs would genuinely improve competitiveness, noting that compliance costs tend to decline over time. They argue that the benefits of the current regulations—such as better risk management and improved sustainability practices—are being overlooked. The economic arguments behind the deregulation are also under scrutiny, with some misinterpreting reports to justify the rollback of green regulations. While businesses may welcome the proposal, it is likely to face significant opposition from environmental and human rights advocates, who see it as a threat to transparency and accountability |
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