| YOUR ADVERSTISING SPACE - Contact us for more information! |
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| EuroChamber is pleased to announce that BSB Mebel LLC has not only renewed its membership but upgraded to Corporate membership status.
We extend our sincere gratitude to BSB Mebel LLC. |
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| EuroChamber is pleased to welcome Kite Mongolia as a start-up member. We are looking forward to our future cooperation. |
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| Survey on international payments |
| EuroChamber is pleased to share the survey on international payments which is part of Promotion of Growth and Employment in the private sector (PROGRES) project.
Please click here to fill out the survey. |
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| Survey on Determining Investor Service Needs, Activity Scope, and Support |
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EuroChamber is pleased to share the survey conducted by the IRIM research center.
About the research Following Resolution No. 37 of the Government of Mongolia on February 1, 2023, the Investment and Trade Agency (ITA) was established under the Ministry of Economy and Development (MED) and launched its operations in July 2023. The IRIM research center is currently undertaking a research titled "Determining Investor Service Needs, Activity Scope, and Support” with the aim of planning the services and activities of the country and creating favorable conditions for investment in Mongolia. This research, spanning from October 16 to December 11, 2023 commissioned by Investment and Trade Agency of Mongolia /ITA/ and funded by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
Data collection phase: Until8th of December
Who to participate: Any investment officer or designated representative from a company engaged in foreign investment activities within Mongolia. Alternatively, it could refer to foreign business proprietors conducting operations in Mongolia.
Here is the link to the survey in English:
Additional Mongolian version of the questionnaire:
For additional details and context, please refer to the attached official letter. Should you have any questions or require further clarification, please do not hesitate to reach out tothe project coordinator Misheel (89022866).Thank you for your cooperation. |
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| Joint European Christmas Party 2023 |
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EuroChamber, the German-Mongolian Business Association (DMUV), FMCCI and BritCham are organizing the "Joint European Christmas Party 2023" (JECP) on December 6, 2023 at Shangri La Hotel Ulaanbaatar for its members and friends.
We are planning to receive around 250 guests. The party will feature dinner with live music, dancing and entertainment including raffles.
We invite you to have an awesome evening with your colleagues and friends from the European Union.
Members: ₮ 350,000 Non members: ₮ 400,000
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| Law Implementation and Application to be Evaluated to Protect Foreign Investment |
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On November 29, 2023, a regular session of the Cabinet took place and relevant officials were tasked to take certain measures in resolving complaints received from enterprises with foreign investment and investors.
Minister of Justice and Internal Affairs Enkhbayar Battumur was assigned to conduct an evaluationon the implementation of the Law on the Enforcement of Court Decision and the impacts of the application of Criminal Procedure Law and to present it within the next month. The evaluation should analyze legal aspects of delayed execution of a court decision and non-execution of court decisions as well as investigation and detention of defendants without sufficient evidence by authorized officials.
Mining, geology, and petroleum industries constitute about 72 percent of foreign direct investment (FDI), trade and catering 11 percent, and other industries 17 percent. To increase FDI, the Government is working on protecting the legal rights and interests of foreign investors who have already invested, resolving their problems promptly according to law, and creating a favorable investment environment, besides attracting new investment. Internationally, about 50 percent of FDI inflows come from reinvestment.
Source: montsame.mn |
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| Mongolia to Enjoy EU’s GSP+ Until 2027 |
| A meeting of the Subcommittee on Trade and Investment under the Mongolia- European Union Joint Commission was held online on November 23, 2023.
During the meeting, the EU side announced that the EU’s Generalised Scheme of Preferences, designed to support good governance and sustainable development in developing countries, was extended until 2027.
The parties highlighted the importance of the GSP+ in increasing Mongolia’s exports through duty-free access of 7200 types of products to the EU market. At the meeting of the Sub-Committee, the parties discussed the current economic situation, trade policy, and investment environment.
Source: montsame.mn |
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| 4,050 containers awaiting transportation to Mongolia at Tianjin Port |
| The United Association of Mongolian Transport Brokers provided information on the situation at Tianjin Port. From the 1st to the 26th of this month, a total of 50 trains departed from the Erlian-Zamyn-Uud border crossing. Currently, there are approximately 4,050 containers awaiting transportation to Mongolia at the Tianjin railway station.
The association highlighted that containers arriving at the port typically take an average of 70-85 days to depart, while the Erlian-Zamyn-Uud route averages 9-12 days.
Within the customs control area of Ulaanbaatar, there are a total of 1,023 containers, comprising 886 loaded containers and 189 empty containers.
Source: ikon.mn |
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| Coal hearing begins next Monday |
| As a preliminary step, the coal hearing has been scheduled to take place on December 4.
The coal hearing will be conducted in two stages. The first hearing is set to occur from December 4 to December 8, and the second hearing will follow from December 18 to December 22.
To oversee the review of coal mining, sales, transportation, export activities, and other procurement activities related to goods, works, and services by the Parliament, an Ad-hoc Committee has been established.
B. Enkhbayar, a Member of Parliament and the Minister of Justice and Internal Affairs, has been appointed as the head of the Ad-hoc Committee.
Source: gogo.mn |
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| Orders for the new Mongolian government bonds have surpassed $4.2 billion. |
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The Government of Mongolia recently introduced a 5.5-year bond with a 7.875 percent coupon to the international market. According to "Bloomberg," the order amount has reached 4.2 billion US dollars. The primary objective of the new bond is to raise US$ 350 million.
Analyzing the subscriber structure by region, 46 percent originated from Asia and the Pacific, 22 percent from North America, and the remaining 32 percent from Europe, the Middle East, and Africa. Hedge funds and asset managers constituted 93 percent of investors, while the remaining 7 percent included banks, insurance companies, and financial institutions.
Bloomberg's calculations reveal that the new bond offers a yield 72.4 basis points higher than the Mongolian government bond yield curve.
Through the issuance of this bond, which will be listed on the Singapore Exchange, Mongolia aims to repurchase the "Khuraldai" bond with an 8.75 percent coupon set to mature in 2024. This strategic move allows for the postponement of a certain percentage of Mongolia's foreign debt payments.
Source: gogo.mn |
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Our mailing address is: info@eurochamber.mn |
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