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| EuroChamber is delighted to invite you to the event titled "How Intellectual Property and Geographical Indications can help businesses." This event is organized in collaboration with the EU Delegation to Mongolia and sponsored by MahoneyLiotta LLP.
The event is scheduled for November 24, 2023, from 4:00 p.m. to 7:00 p.m at Paris-Beijing room, Shangri-la Hotel.
For members: Complimentary For non-members: MNT 50,000
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| EuroChamber is pleased to welcome Onko Trading LLC as a SME member.
We are looking forward to working with Onko Trading LLC. |
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| EuroChamber's President presented at Sustainable cashmere day-2023 |
| Eurochamber President Klaartje Genbrugge attended Sustainable cashmere day-2023 at 13 November 2023. She talked about global market requirements, delving into the legal framework governing the European cashmere market, the criteria set by brands and end users, and outlining future plans to bolster sustainable cashmere production. Additionally, she articulated her perspectives on future plans to support developing sustainable cashmere production and expand exporting cashmere to European market. |
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| EuroChamber attended a public-private dialogue |
| EuroChamber Mongolia team attended an event "Fostering private sector's participation in economy" held at the Government House on 17 November, 2023.
During the discussion, EuroChamber highlighted several key issues: - Stressed the need to establish conditions that promote collaboration with embassies, recognizing their role in supporting international business activities.
- Advocated for the effective allocation of resources to enhance the operations of investment and trade agencies, contributing to their efficiency.
- Called for the streamlining of processes for incoming investors, with a specific focus on improving coordination between central and local government authorities, especially in the mining sector.
- Highlighted the significance of addressing challenges faced by companies operating in the renewable energy sector.
- Emphasized the need to create a conducive environment for investment and trade by minimizing bureaucratic hurdles and fostering better inter-agency cooperation.
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| The Raw Materials Week is an annual event organised by the European Commission. It gathers a wide range of stakeholders discussing policies and initiatives in the field of raw material, providing an overview of ongoing EU activities in this sector.
This Week gathering a wide range of stakeholders will be centred around the European Critical Raw Materials Act and cover topics related to critical and strategic raw materials, strategic projects, investment, permitting, exploration, innovation, circularity, international partnerships etc.
The 10th annual High-Level Conference of the European Innovation Partnership (EIP) on raw materials, co-organised with Eumicon on Wednesday 15 November is covering the topics as raw materials for energy transition, investment, strategic projects, strategic partnerships.
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| Mongolia and Germany Discuss Cooperation in Environment and Tourism |
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Bat-Erdene Bat-Ulzii, Minister of Environment and Tourism of Mongolia met Helmut Rudolf Kulitz, the Ambassador of the Federal Republic of Germany to Mongolia, and Ido Weber, Head of the Development Cooperation Department.
Minister B. Bat-Erdene expressed gratitude for jointly implementing projects and programs through the Green Climate Fund, Global Environmental Facility, and Adaptation Fund and for concerning the issue of permafrost in Mongolia, and supporting research in this matter and protection. The Minister also emphasized that the two countries have been developing cooperation in forests, biological diversity, nature protection, and climate change for a long time.
Ambassador Helmut Kulitz emphasized the call by international financial institutions not to finance activities that harm the environment. Noting that investment in environmental protection can be increased Ambassador Helmut Kulitz asked to bring together similar ideas and views of the two countries at the upcoming 2023 UN Climate Change Conference (COP28), which convenes from 30 November to 12 December 2023 in Dubai, United Arab Emirates.
The Ministry of Environment and Tourism is working with professional organizations to finalize action plans on climate change adaptation within 2023. Climate change mitigation involves many issues including agriculture, pastures, land use, water, forests, desertification, and soil and vegetation protection. The two sides agreed to convene with the participation of experts of the two sides before the COP28 Conference to coordinate their actions.
Minister Bat-Erdene noted that a majority of tourists who visited Mongolia in 2023 were from France, and he stressed that Mongolia is interested in increasing the flow of tourists from Germany. As the Government announced 2023-2025 as the Years to Visit Mongolia and referring to the experience as a co-organizer in the international exhibitions ITB Berlin and CMT, the Minister requested support for the Years to Visit Mongolia to promote the tourism industry.
Source: montsame.mn |
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| E-Mongolia Expands Services |
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Prime Minister Oyun-Erdene Luvsannamsrai met with the team of the unified digital platform of public services E-Mongolia on November 13, 2023. He expressed gratitude to the engineers and colleagues from E-Mongolia Academy for their professionalism and dedication in developing the system.
Director General of E-Mongolia Academy Myagmarnaran Bavuujav briefed about updates of the E-Mongolia 4.0 platform. "Besides E-Mongolia, we are responsible for the development of 29 state systems, including KHUR, DAN, erp e-Mongolia, lavlagaa.mn, docx.gov.mn, digital signature system, notification delivery system, and opendata.gov.mn. We adhere to the principle of cooperation with the private sector, not competition. 329 organizations out of 462 that use KHUR information exchange system, for example, are private entities. In the future, there is a need to launch a national campaign to enhance the e-skills of the population. Today, the e-skills rate in Mongolia is 48.3 percent. As part of the E-Mongolia 4.0, we are working to introduce a unified payment system next year."
The e-Mongolia team was tasked to make further updates to the system, taking into account the opinions of citizens and paying special attention to e-transition in the health sector. Prime Minister L. Oyun-Erdene emphasized the need for cooperation with the Capital City Governor's Office in solving city problems such as public transportation and public services. During the meeting, proposals to create a unified Mongolian network, introduce a payment system, and use artificial intelligence (AI) in E-Mongolia 4.0 were put forward.
With the application of AI, E-Mongolia 4.0 is focused on increasing the number of services and simplifying their usage to enable improved and accessible services. In the future the government will be in charge of carrying out calculations, standards, and modeling of a system and the private sector will be responsible for system development," stated Uchral Nyam-Osor, Minister of Digital Development and Communications of Mongolia.
The participants noted the lack of professional personnel, high workload, and low wages, as well as the need to improve working conditions. The representatives from public organizations emphasized the importance of providing e-services, updating the system, ensuring cross-sectoral coordination, and increasing investment while paying special attention to information security.
At the end of the meeting, Prime Minister L. Oyun-Erdene noted that public organizations should run proper management rather than compete with the private sector in system development and implementation. He pledged to support the initiatives to improve working conditions for engineering and technological personnel and establish an e-office, run a national campaign to enhance the e-skills of the population and update the e-Mongolia 4.0 system.
The proposals from the meeting are to be discussed at a meeting of the Cabinet of Ministers.
The E-Mongolia 1.0 system was launched on October 2, 2020, and offered 181 services from 23 public organizations. Presently, 1,106 services from 86 organizations have been integrated into E-Mongolia. The system has now 1.7 million users offering 36.5 million public services online and people have saved MNT 706.9 billion.
Source: montsame.mn |
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| The balance of non-performing loans declined by 18% |
| According to the National Statistics Office, the non-performing loan balance exhibited a notable decline, decreasing by 17.8 percent at the conclusion of October 2023 when compared to the corresponding period of the previous year.
In terms of the money supply (M2), it surged to MNT 33.7 trillion MNT by the end of October this year, reflecting an increase of MNT 6.4 trillion compared to the same period in the previous year. This increase was primarily attributed to a rise of MNT 2.1 trillion or 39.9 percent, MNT 1 trillion or 24.7 percent, and MNT 2.9 trillion in MNT deposits, respectively.
Source: gogo.mn |
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| At the SRC meeting, a special license to operate a mutual fund was granted. |
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On 17 November, 2023, a regular session of the Financial Regulation Committee took place. During the meeting, the committee made the decision to grant a special license for investment management activities in the securities market to one company, and a separate special license for mutual fund activities to another company. Additionally, the committee approved modifications to the documentation concerning share rights.
Two companies were granted a special license for non-bank financial foreign exchange trading, while one company each received a special license for non-bank financial lending and non-bank financial factoring services. Furthermore, two specified individuals are set to receive a special license authorizing them to participate in the activities of trading precious metals, precious stones, or products crafted from them.
Additionally, there was a discussion and a decision to reinstate the special license of one company to participate in non-banking financial activities. Moreover, the special licenses of 29 individuals, identified by name, to engage in the activities of trading precious metals, precious stones, or products made from them, were also restored.
Source: ikon.mn |
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Our mailing address is: info@eurochamber.mn |
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