January 15 2016

1. BUSINESS COUNCIL of MONGOLIA
NewsWire
www.bcmongolia.org
info@bcmongolia.org
Issue 411 – January 15, 2016
BCM NewsWire provides short summaries of news collected from around the world. Each article is
kept to a maximum of 150 words for brevity, but click on the link next to “Source” to read the full
article.
NEWS HIGHLIGHTS:
Business:
 Premier rings in year at MSE for Mongol Post’s successful IPO;
 Erdenes Mongol obtains rights for methane gas project at TT;
 Khot Infrastructure announces issuance of rail construction permit;
 China firm greenlit for road construction;
 Vattenfall cuts Mongolians out of German coal bid;
 Altain Khuder will be fined MNT 4 billion;
 CIC Gold updates on Gobi Mineral Group acquisition;
 Mongolian firm unveils home automation system at CES 2016;
 Natural gas stations commissioned in eastern Mongolia;
 MUST professor awarded for surgical threads made from animal tendons;
 Khan Bank launches lending program in time for Tsagaan Sar;
 Golomt Bank joins campaign to support Mongolia’s Olympic team;
 Former president Ochirbat exits MMC board;
 MP R. Amarjargal named honorary president of MBD;
 Rio Tinto to consider Sam Walsh's successor.
Economy:
 Mongol Bank: currency auctions, swaps, 1-week bills, T-bills;
 Mongol Bank cuts policy rate to 12 percent;
 Exploration land transferred to nature reserve territory;
 Enkhbold promises interest reduction to 5% on mortgages;
 Agriculture ministry seeks farm subsidies to mirror mortgage program;
 Nearly 17,000 km of road, bridge repairs planned for 2016;
 Environment ministry explores possibility of hydro-power station on Tuul River;
 200 Mongolian schools to receive MNT 1.2 billion grant aid;
 Bill targets families in need for childcare support from welfare;
 Aviation authority proposes Northern Passage;
 British-made Mongolian yak yarns an alternative to cashmere;
 Red Cross groups offer MNT300 mn in emergency aid for herders;
 Flour import quota raised;
 Meteorology institute warns of colder-than-normal temperatures;
 Driving test goes online;
 2014 EITI report sees falling revenues, rising disclosures;
 Local suppliers to be tapped for MNT170 bn for UB urban development;
 Government plans for affordable housing in UB.

2. Politics:
 Parliament’s third attempt for a deal on Centerra's Gatsuurt deposit;
 Regulation takes effect for larger reserves at brokerage firms;
 Parliament to vote on pension reform;
 Mongolia expresses concern about North Korean hydrogen bomb test;
 Task force created for Mongolians missing abroad;
 Investigation opened into snow leopard conservationist's death;
 Prosecutors arrested again;
 DP official taken to civil court;
 Wolf poachers caught;
 Union leader granted MNT130 million for burn treatments;
 MPP deputy chairman stands down;
 Are MPP, DP losing sleep over a possible Ganbaatar presidential run?
 Ambassador Jennifer Zimdahl Galt’s first Op-Ed EDITORIAL.
BCM Updates:
 Knowledge Sharing Sessions;
 Advocacy Notes;
 Working Groups News
 BCM in the University Classroom Series;
 Websites Update - Presentations, Mongolia Reports, Interviews;
 Social Networks.
Economic Indicators:
 Inflation;
 Central Bank Policy Rate;
 Currency Rates.
*Click on titles above to link to articles.
SPONSORS
Khan Bank Invest Mongolia Agency
Mongolian Business Database

3. BUSINESS
PREMIER RINGS IN YEAR AT MSE FOR MONGOL POST’S SUCCESSFUL IPO
Prime Minister Chimed Saikhanbileg rang in the
opening of trade for shares of Mongol Post on 8
January, signaling the first of what is expected to be
many privatizations of state-owned assets. The state
raised MNT12.6 billion from the offering of a 34
percent shareholding in Mongol Post on the Mongolian
Stock Exchange. The offering received approval from
Parliament last year.
“The first IPO of 2016 has taken place successfully,”
said Chimed Saikhanbileg.
Last year saw only one public offering, despite 14.3 percent growth in activity on the local bourse.
The bulk of that activity came from the trade of treasury bonds, which are also now traded on the
secondary market. The Mongolian Mortgage Corporation (MIK) has traded MNT20 billion since
launching its record-setting IPO last December.
Source: News.mn
ERDENES MONGOL OBTAINS RIGHTS FOR METHANE GAS PROJECT AT TT
Erdenes Mongol will pick up where Korea Gas left off in the methane gas project planned for the
Tavan Tolgoi coal mines that the South Korean firm abandoned. Korea Gas had invested USD8.6
million before terminating the project. Preliminary data for the site shows that 93 percent of the
51 billion cubic meters of methane concentrate there is viable for commercial production.
Source: Unuudur
KHOT INFRASTRUCTURE ANNOUNCES ISSUANCE OF RAIL CONSTRUCTION PERMIT
Khot Infrastructure Holdings Ltd.'s subsidiary has been awarded a rail bed construction permit by
the Ministry of Road and Transportation, the holding company for construction and materials
announced on 7 January. The permit, effective from 22 December for three years, enables Ashid
Munkhiin Zam LLC (AMZ) to bid on a number of major rail projects planned by the government of
Mongolia as an integral component of its countrywide transportation infrastructure commitment,
including the USD1.3 billion, 547 kilometers in railway concessions already announced with Northern
Railway. James Passin, Khot's chairman, emphasized the importance of this permit in terms of the
expanded opportunities it provides for its overall road and rail concession strategy.
Proceeds from a private placement announced on 15 December will be used to accelerate the bid
process in both the road and rail bed sectors. ”Having been awarded a permit allows Khot to
actively bid on these fast-moving opportunities," Passin said.
Source: Khot Infrastructure Holdings, Ltd.
CHINA FIRM GREENLIT FOR ROAD CONSTRUCTION
A Chinese company has been approved for the construction of a highway to be built by 2018. China
First Highway Engineering received the green light from investment authorities to pursue a
concession contract to build a 167-kilometer road running from Tosontsengel to Nomrog and Sonigno
Soums. The highway will cost USD 102.74 million and take two years for construction. It must
contract at least one-third of the work with local companies.
Source: Montsame
VATTENFALL CUTS MONGOLIANS OUT OF GERMAN COAL BID
A Mongolian company has launched legal action against Vattenfall, after the Swedish energy giant
refused to allow it to bid for a brown coal operation in Germany. The head of Sweden’s Vattenfall
hasn’t received many offers for the energy company’s brown coal division in eastern Germany. With
Berlin pushing the country toward renewable energies, the mining operation in the Lausitz region

4. isn’t exactly an attractive investment.
Lausitz Mongolia Mining Generation AG (LMMG), a project company based in Dresden backed by
Mongolian investors, was prepared to pay the Swedes EUR1.85 billion (USD2 billion). By comparison,
the German electricity provider Steag made an offer in the three-figure million range. The problem
was the company had already been disqualified from the process by Vattenfall and its investment
bank, Citigroup. “I cannot understand why we were excluded from the bidding process,” said Horst
Schmidt, the head of LMMG. “To this day it hasn’t been justified.”
Source: Handelsblatt Global Edition
ALTAIN KHUDER WILL BE FINED MNT 4 BILLION
Altain Khuder has been fined MNT4 billion (USD2 million) for violations against workers’ rights. Over
200 employees demonstrated on 8 January demanding six months back pay and two years of
vacation pay. Demonstrators have agreed to meet company management by the end of this week to
resolve the dispute.
Source: Zuunii Medee
CIC GOLD UPDATES ON GOBI MINERAL GROUP ACQUISITION
The exploration miner with the rights to the Gobi Gold copper project, CIC Gold, is seeking
approvals for an 80 percent acquisition by Gobi Mineral Group Ltd., it said in a 12 January
statement. It has rights to a single exploration lease covering 478 square kilometers that CIC Gold
says is known to contain a number of potentially significant economic gold, copper and rare earth
deposits. A competent person’s technical report for the Gobi Minerals Copper-Gold Project is
expected by 14 January 2016 and will be posted on CIC Gold's website.
CIC Gold also announced the retirement of Luke Webster from the board.
Source: Stock Market Wire
MONGOLIAN FIRM UNVEILS HOME AUTOMATION SYSTEM AT CES 2016
The Mongolian company Ametros Solutions this week presented its home automation system at CES
2016 in Las Vegas, the world's biggest exhibition for technology. Ametros displayed its wireless
comprehensive home automation and security system, giving the owner total control of the
household and appliances while providing a protective shield from Android devices. The system
utilizes an algorithm that learns to run the household based on users' preferences.
The Mongolian start-up will compete against giants such as Google, Philips, Amazon, but boasts fully
automated services compared to other partial services. Ametros has already launched its services at
home and is used by the Burger King restaurant in Ulaanbaatar.
Source: Mongolia.GoGo.mn
NATURAL GAS STATIONS COMMISSIONED IN EASTERN MONGOLIA
Mongolia's first-ever hub fueling stations for natural gas have been launched in eastern Mongolia.
The Dashavaanjil and Dornod gas fuel facilities launched at Dornod Aimag, in total costing about
MNT800 million. A liter of gas currently sells for MNT1,100.
Source: Montsame
MUST PROFESSOR AWARDED FOR SURGICAL THREADS MADE FROM ANIMAL TENDONS
A professor at the Mongolian University of Science and Technology (MUST) took first place in an
international contest for innovative commercial goods with her surgical threads made from animal
tendons. S. Togs won a cash prize first in the competition held by the World Intellectual Property
Organization (WIPO) and Intellectual Property Organizations of Mongolia and South Korea.
The product is currently undergoing testing, with commercial sales expected to launch in the near
future.
Source: Montsame

5. KHAN BANK LAUNCHES LENDING PROGRAM IN TIME FOR TSAGAAN SAR
Khan Bank has launched its Consumer Loan Campaign, extending and granting larger-sized loans in
the expectation of greater demand for the Mongolian lunar new year. Tsagaan Sar is the season
when consumers are most looking for small loans to cater to friends and family expected to arrive
for the holiday. The campaign allows customers to receive loans based on their salaries and pension
loans as well. It also provides for leases on vehicles, electronics and furniture. For the Tsagaan Sar
holiday, Khan Bank will extend leasing terms and reduce down payments to between 0 and 15
percent.
Source: Khan Bank LLC
GOLOMT BANK JOINS CAMPAIGN TO SUPPORT MONGOLIA’S OLYMPIC TEAM
Golomt Bank has joined a national campaign to raise funds for Mongolia's Olympic teams to compete
in the Rio games this year, the bank said on 12 January.
Source: Montsame
FORMER PRESIDENT OCHIRBAT EXITS MMC BOARD
Mongolia's first president, P. Orchirbat, is exiting Mongolian Mining Corp.'s (MMC's) board as an
independent member to be replaced by economist Ch. Khashchuluun. Khashchuluun has served as
director of the School of Economics at Mongolian National University and the National Development
and Reform Commission.
Source: News.mn
MP R. AMARJARGAL NAMED HONORARY PRESIDENT OF MBD
Mongolian Business Database has appointed parliamentarian R. Amarjagal as its honorary president.
Amarjargal took part in the 1990 protests that led to the transition to democracy and a market
economy. His political career includes terms as prime minister and minister of foreign affairs.
MBD is a mediator for support of business relations between foreign businesspeople and investors
with local counterparts.
Source: Mongolian Business Database
RIO TINTO TO CONSIDER SAM WALSH'S SUCCESSOR
Rio Tinto Group Chairman Jan De Plessis must decide on a successor as the company's senior
executive ranks enter the "beauty parade" phase of the management cycle. Current Rio Chief
Executive Officer Sam Walsh, who is employed on an open-ended contract, has said the board's
clear preference was for an internal candidate, pointing to iron ore boss Andrew Harding, copper
and coal head Jean-Sebastien Jacques, aluminum chief Alf Barrios and diamonds boss Alan Davies.
Harding is the clear favorite to get the top job for effectively running Rio's most important business
unit. Another potential candidate is chief financial officer Chris Lynch, who assumed the role a
month after Walsh was put in charge. Had Walsh been hit by a bus during the early days of the Rio
rescue missions, there seems little doubt Lynch would have replaced him.
Source: Australian Financial Review
SPONSORS
Oxford Business Group The New Media Group

6. Mongolian Economy Magazine
ECONOMY
MONGOL BANK: CURRENCY AUCTIONS, SWAPS, 1-WEEK BILLS, T-BILLS
In the Foreign Exchange Auction held on 14 January 2016 the Bank of Mongolia (BOM) received bid
offers of USD 35.53 million between the rates of MNT 1998.50-2000.51 and bid offers of CNY 24.0
million between the rates of MNT 303.80-304.21 respectively. The BOM sold USD 20.43 million at a
closing rate of MNT 1999.87.
On 14 January the BOM received MNT swap agreement buying bid offers equivalent to USD 12.3
million and USD swap agreement selling bid offers of USD 20.0 million from local commercial banks
and accepted the offers.
The Bank of Mongolia on 13 January issued one-week bills worth MNT172.4 billion at a weighted
interest rate of 13 percent. Also that day, the central bank canceled the auction of 52-week
treasury bills with a face value of MNT25 billion and two-year bonds with a face value of MNT15
billion because of a lack of bids. After receiving MNT5 billion in bids, the central bank that day sold
28-week bills with a face value of MNT5 billion at a discounted price and with a weighted average
yield of 14 percent.
Source: Bank of Mongolia
MONGOL BANK CUTS POLICY RATE TO 12 PERCENT
The Bank of Mongolia has cut the policy rate by one point to 12 percent effective on 14 January.
The rate cut follows annual inflation for November 2015 tallying at 2.9 percent. “Positive and
stable outlook on foreign direct investment and its recovery in the medium-term shall support
macroeconomic external balance,” said the Monetary Policy Committee in a 13 January statement.
“This decision on cautious and gradual monetary easing shall positively affect promoting
monetary and credit growth, private sector investment and economic activities.”
Source: Bank of Mongolia
EXPLORATION LAND TRANSFERRED TO NATURE RESERVE TERRITORY
Eight million hectares of land registered for exploration has been revoked because of environmental
and ecological significance, Mining Minister Rentsendoo Jigjid announced on 23 December. The
Mineral Resources Authority has made 1.4 million hectares of land available for exploration after
licensing became legal again for the first time in five years.
The land includes more than 652,000 hectares at the Tosonbumba Mountains in Umnugobi Aimag
which will be designated as a nature reserve.
Source: Montsame
ENKHBOLD PROMISES INTEREST REDUCTION TO 5% ON MORTGAGES
The annual interest on mortgages from a subsidized lending scheme currently on suspension will be
reduced from 8 to 5 percent, said Parliament Speaker Zandaakhuu Enkhhbold in an address to
Parliament. Enkhbold hopes to turn a constitutional court decision that has halted the state-backed
8 percent mortgage program with new legislation. However, the program was already starting to
lose some steam, even after government lowered the up-front 30 percent down payment to just 10
percent.
The program has helped keep activity abuzz in the construction sector because it is only applicable
for new or pending development projects. Enkhbold said Ulaanbaatar will need about 205,000

7. additional housing units to accommodate families in the ger districts and migrants from Mongolia's
rural provinces. Outside Ulaanbaatar are 64,000 families looking for formal housing. Just 0.01
percent of all mortgages from the program are non-performing, said Enkhbold, or 40 households of
a total 47,500 that have received mortgages.
Source: Mongolia.GoGo.mn
AGRICULTURE MINISTRY SEEKS FARM SUBSIDIES TO MIRROR MORTGAGE PROGRAM
Mongolia's farmers will be getting a helping hand through low-interest loans to help grow meat and
leather production, said Food and Agriculture Minister R. Burmaa at the prime minister's weekly
press conference on 13 January. Agriculture ranks among Mongolia's top performing sectors, along
with mining and construction, while many traditionalist herders continue to practice millenia-old
herding lifestyle. Burmaa said she would like to replicate the government's support of construction
and housing, which has subsisted with the help of 8 percent mortgages subsidized by public funds.
The loans could help herders better endure what are currently harsh lending terms and possibly
refinance under lesser interest.
Source: Montsame
NEARLY 17,000 KM OF ROAD, BRIDGE REPAIRS PLANNED FOR 2016
The Ministry of Roads and Transportation has promised to repair 16,431 kilometers of road and
bridges in 2016. Parliament has budgeted for 22 road construction projects in 2016, with additional
financing from the Asian Development Bank, the German Bank for Reconstruction and Development,
the Kuwait Fund, and a soft loan from China. Construction on 7 bridges is expected to be completed
this year. About 20 state-owned companies will lead the repairs.
The highway project to link every province with Ulaanbaatar is scheduled to finish next year.
Source: UB Post
ENVIRONMENT MINISTRY EXPLORES POSSIBILITY OF HYDRO-POWER STATION ON TUUL RIVER
A feasibility study for the possible construction of a small-scale hydro-power station on the Tuul
River is under way, said Environment and Green Development Minister N. Battsereg. “We are
working on a feasibility study to build a water pool near Terelj on Tuul River. Using the water pool
we plan to build a small hydro-power station.”
The government is counting on financing from the Millennium Challenge Corp. and U.S. government
to finish the project, said Battsereg.
Source: Udriin Sonin
200 MONGOLIAN SCHOOLS TO RECEIVE MNT 1.2 BILLION GRANT AID
The World Bank has provided MNT1.2 billion to the Ministry of Education, Culture and Science to be
distributed among 200 high schools throughout the country. Each school will receive MNT6 million to
employ various projects including grants to improve the study of Mongolian language, natural
sciences and mathematics.
For example, a school in Teshig Soum, Bulgan Aimag has proposed a project to promote the
traditional Buryat lifestyle to children. Another example is the Ugii-Nuur Soum School in Arkhangai
Aimag that seeks to teach natural history and ecology in elementary schools. “The essence of
natural science is fieldwork and experimentation, but our local school does not have enough for
experiments,” said school Director Sh. Badamtsetseg. “This,, therefore, was the basis of our
request for grant funding.”
Source: News.mn
BILL TARGETS FAMILIES IN NEED FOR CHILDCARE SUPPORT FROM WELFARE
A new bill would seek to end the universal childcare allowances that has been lauded by some and
criticized by others. Mongolia has received some praise for its allowances worth MNT20,000 per
child provided to every family in Mongolia, while some institutions, including the International
Monetary Fund, have called for more targeted support. Social Welfare Minister S. Erdene has

8. proposed a bill that would target families in need for the allowance instead of providing it to all
households.
Parliament has budgeted MNT147 billion for the allowances this year, but a more targeted program
would allow for a reduction amid today's economic stress resulting from slowed growth in China,
falling commodity prices and little foreign investment into Mongolia.
Source: News.mn
AVIATION AUTHORITY PROPOSES NORTHERN PASSAGE
An official for international aviation in Mongolia has proposed opening up a so-called “Northern
Passage” from Mongolia, connecting northeast and southeast Asia with Europe and North America.
The director of national Air Traffic Services department at the General Civil Aviation Authority, P.
Ganbold, at the World Aviation Authority in Montreal, Canada last week proposed the idea as a
means for drumming up air traffic throughout the region.
“Mongolia is an important country which has a special role in connecting Asia with Europe,” said
Ganbold.
Source: News.mn
BRITISH-MADE MONGOLIAN YAK YARNS AN ALTERNATIVE TO CASHMERE
The first Mongolian yak fiber yarn manufactured in Britain is being launched this month, providing
manufacturers with a new source of ethically-produced fibers that offer a sustainable alternative to
cashmere and boast a completely traceable supply chain. The refined yak yarns are being marketed
as the Khangai Noble Yarns Collection and, according to noble yarn specialist Tengri, have
properties akin to vicuna and transcend those of cashmere. The raw fiber comes from Mongolian
herder cooperatives, where over 1,500 nomadic herder families are working with Tengri to supply
hand-combed fibers from the indigenous and semi-wild noble yak from the Khangai mountains.
The company says the new prestige fibers provide a conscientious solution to the weakened supply
chains and quality of key raw materials such as cashmere.
Source: Just-Style
RED CROSS GROUPS OFFER MNT300 MN IN EMERGENCY AID FOR HERDERS
The International and British Red Cross groups have offered financial assistance and other aid to
better cope with heavy snowfall in Mongolia that could lead to natural disasters. Mongolia has taken
preparation in the face of what could be a dzud, which is an extremely harsh winter that results in
thousands of animal deaths. The Red Cross groups have offered a total MNT300 million to help 1,600
families across 18 provinces who are most threatened by disaster.
The financial aid will be disbursed via Khan Bank LLC.
Source: News.mn
FLOUR IMPORT QUOTA RAISED
Mongolia will allow six times as many companies to import flour as last year after wheat production
took a heavy blow because of droughts last summer. The Ministry of Agriculture plans to import
40,300 tons of flour this year. The government has granted 65 companies out of a total 78 that
requested the special permission. Last year the government allowed just 10 to import flour.
Source: News.mn
METEOROLOGY INSTITUTE WARNS OF COLDER-THAN-NORMAL TEMPERATURES
This year's winter is between 2 and 10 degrees Celsius colder than average temperatures of previous
years, according to the Mongolian Meteorological, Hydrological and Environmental Research
Institute. This year the institute has recorded average temperatures of -32 Celsius.
The worst maybe has already passed, however, since January is typically the coldest month in
Mongolia.
Source: News.mn

9. DRIVING TEST GOES ONLINE
Mongolia will begin allowing individuals to take the written portion of their drivers’ exam online. Up
to 40 users may take the exam at one time, according to the licensing center of the General Police
Authority. Putting the test online makes it more difficult for test-takers to cheat, it said.
Source: News.mn
2014 EITI REPORT SEES FALLING REVENUES, RISING DISCLOSURES
Miners in Mongolia are still feeling the crunch of slowed growth in China and falling commodity
prices, but the one bright spot is a growing professionalism in the industry, according to a report by
the Extractive Industries Transparency Initiative (EITI) for 2014. Mongolia boasts sizable reserves of
copper, coal, gold, iron ore, zinc, uranium, fluorspar and petroleum, said EITI, currently exporting
15 different commodities. Drawing assessments from the Ministry of Mines and the Open Society
Forum, the 2014 EITI Report evaluates the quality of the governance of state-owned companies and
disclosures of private companies. Mongolia's average corporate governance ranking of 28% lags well
behind the average in other Asian countries like Hong Kong, Thailand and the Philippines, said the
report.
“The EITI is most useful where it is used for locally relevant reforms,” said Banzragch Delgermaa,
senior advisor to the prime ministry and secretary to the EITIM National Council.
Source: Montsame
LOCAL SUPPLIERS TO BE TAPPED FOR MNT170 BN FOR UB URBAN DEVELOPMENT
Ulaanbaatar has approved a plan for purchasing goods and services for its urban development
projects in 2016. The capital has budgeted for MNT169.5 billion for urban development this year,
including the construction of buildings, infrastructure, maintenance and cleansing the soil of toxins.
Spending plans include MNT462 to update the city's electronic archives, MNT600 million to provide
wireless services as part of the “Smart Ulaanbaatar” program, and MNT1.5 billion to develop the
National Garden. MNT500 million has been set aside for environmental rehabilitation.
Source: Montsame
GOVERNMENT PLANS FOR AFFORDABLE HOUSING IN UB
Public housing with rental fees ranging between MNT200,000 and MNT280,000 will be provided in
Ulaanbaatar, according to a statement from the government's press office. The government hopes
to move families out of informal housing in the ger districts to apartment blocks connected to the
city's utilities and cut down on pollution and waste while stimulating construction activity to
provide relief in the down-trodden economy. Public housing rentals outside the city would range
between MNT140,000 and MNT230,000.
The government has planned for 350 housing units in Ulaanbaatar and 579 in Arkhangai, Uvs,
Khentii, Khuvd, and Selenge Aimags as well as Darkhan-Uul and Zuunkharaa.
Source: Mongolia.GoGo.mn
POLITICS
PARLIAMENT’S THIRD ATTEMPT FOR A DEAL ON CENTERRA'S GATSUURT DEPOSIT
Parliament will get a third attempt at making a deal with Centerra Gold Inc. for the Gatsuurt gold
deposit, but if talks break down again will it be three strikes and you're out? Parliament's standing
committee for economy on 12 January approved a bill for Gatsuurt for initial debate by lawmakers.
Parliament must decide if the government should take a 34 percent stakeholding in the project or a
lower stake with larger royalties, which would bring more immediate returns. Gatsuurt could
operate for up to a decade with USD215.9 million in expenses compared with USD 1.77 billion from
gold sales.
The current deal laid out in the bill would see Mongolia receive 3 percent royalties for the gold, or
an estimated 68 percent of total profits from the mine, for MNT432.3 billion. It would also mean

10. bolstered reserves for Mongolia's central bank.
Source: Montsame
REGULATION TAKES EFFECT FOR LARGER RESERVES AT BROKERAGE FIRMS
Brokerage firms will be asked for larger liquid reserves to ensure payment to investors in the case
of financial stress. The Financial Regulatory Commission has issued a new regulation requiring a
higher equity-to-liquidity ratio of 100 percent or more as well as 70 percent for current assets.
Source: Montsame
PARLIAMENT TO VOTE ON PENSION REFORM
A new bill to go before Parliament is seeking greater stability in the pension system. The Cabinet
Secretariat on 8 January approved a bill that would reform the pension insurance system to create
larger reserves in case of economic stress.
Source: Montsame
MONGOLIA EXPRESSES CONCERN ABOUT NORTH KOREAN HYDROGEN BOMB TEST
Mongolia has spoken out against the nuclear test which North Korea has claimed on 6 January. A
statement from the Ministry of Foreign Affairs has expressed serious concern over North Korea's
hydrogen bomb test, which was in violation of the U.N.-Security Council regulations, stating the
test would threaten peace and security in the region.
Source: News.mn
AMENDMENT TO BUILD FOUNDATION FOR RECYCLED MINERALS INDUSTRY
Mining is in the dumps, and that's where producers may literally be heading to grow exports. The
Cabinet on 11 January pushed forward to Parliament a proposed amendment to the Minerals Law
that would allow for minerals recovery from garbage dumps for the eventual production of finished
metal products.
Source: Montsame
TASK FORCE CREATED FOR MONGOLIANS MISSING ABROAD
Authorities are setting up a new agency for Mongolians that have gone missing while abroad. The
Ministry of Foreign Affairs reported that 40 relatives of Mongolian citizens are unaccounted for.
Young people from developing countries sometimes go missing abroad after getting caught up in
human trafficking scams. They sometimes have their passports taken away and are left to work off
huge debts for their travel and board in the new country.
Source: News.mn
INVESTIGATION OPENED INTO SNOW LEOPARD CONSERVATIONIST'S DEATH
Authorities are investigating the mysterious death of an environmentalist focused on protecting
Mongolia's snow leopards whose body was found at Khuvsgul Lake. Prosecutor General M. Enkh-
Amgalan is leading the investigation into the biologist and conservationist T. Lkhagvasumberel's
death, who many speculators say was murdered while others have suggested a suicide. The young
man, who posthumously received the Helen Freeman Award from the Snow Leopard Trust, was
found six days after going missing on 11 November. Lkhagvasumberel fought to stop gold mining at
the Tosonbumba Mountain in Umnugobi Aimag, where there are known to be 22 to 24 snow
leopards. C1 Channel on 7 December alleged that his disagreements with miners were linked to a
murder.
Source: Mongolia.GoGo.mn, Montsame, 2
PROSECUTORS ARRESTED AGAIN
Two prosecutors released on bail for drug possession charges are in jail again for a hearing by courts
for the Bayangol, Khan-Uul and Songinokhairkhan Districts [Source does not include if the arrest
were for new charges -ed]. Former prosecutors Kh. Tamir and B. Amarbayasgalan were released on

11. bail last November after police arrested them on drug charges five months prior.
Source: News.mn
DP OFFICIAL TAKEN TO CIVIL COURT
A party official for the Democrats is being sued for alleged slander against the Mongolian People's
Party. Civil court hearings opened on 11 January for the MPP accusations that L. Erkhembayar had
slandered their party with the claims that they would raise the interest rate of state-backed
mortgages from 8 to 20 percent interest.
“We demand that the DP [Democratic Party] restore the MPP’s honor and publicly apologize for this
action via Twitter and the “Tsagyn Khurd” news program on Mongolian National Broadcasting,”
reads the MPP's court filing.
Source: News.mn
WOLF POACHERS CAUGHT
A man has been arrested after being found hiding the carcasses of 6 illegally-hunted wolves in his
yard in the Bayangol District of Ulaanbaatar. The suspect has been fined MNT6.9 million for the
crime, said environmental control inspector D. Sonin-Erdene.
Last year, authorities administered fines for 34 violations of unlicensed hunting. Also reported were
another 500 cases of smuggling marmot meat, hunting moose, fishing taimen and hunting falcons.
Source: Montsame
UNION LEADER GRANTED MNT130 MILLION FOR BURN TREATMENTS
The head of the Ev Sanaani Negdel trade union has received MNT130 million from state-owned
Erdenes Tavan Tolgoi LLC for treatment of burns from when he set fire to himself during a press
conference to help keep miners’ jobs at the Tavan Tolgoi coking coal mine. In December, S. Erdene
left for South Korea to receive medical treatment for burns sustained during his self-immolation,
which he said was in protest of the 203 jobs from his union being given up from a change of
contractors to mine the East Tsankhi block.
Source: News.mn
MPRP DEPUTY CHAIRMAN STANDS DOWN
The Mongolian People's Revolutionary Party (MPRP) Deputy Chairman, D. Terbishdagva, has
requested to step down from his post after weeks of rumors in December. Terbishdagva has given
no statement as to the reason for his exit, while some have speculated that it was because of
disagreements with other leaders at the MPRP. A decision on his resignation will remain on hold
while party Chairman N. Enkhbayar is out of the country.
Source: News.mn
ARE MPP, DP LOSING SLEEP OVER A POSSIBLE GANBAATAR PRESIDENTIAL RUN?
Sainkhuu Ganbaatar, a formerly independent parliamentarian who made some sensation in a high-
profile crusade against Oyu Tolgoi LLC, has hinted that a presidential run in 2017 would make for
tough competition. “The Democratic Party and Mongolian People’s Party are spending sleepless
nights, because they think if S. Ganbaatar is nominated for president, people are going to choose
him,” Ganbaatar said in response to a question of whether he has presidential aspirations.
Ganbaatar denied rumors that he was the chief financial force behind the National Labor Party,
which registered late last year. His biggest claim to fame has been his vocal criticism of the Oyu
Tolgoi mine which the government shares ownership with Anglo-Australian miner Rio Tinto Group. “I
always say that Rio Tinto is robbing Mongolia,” he said.
Source: News.mn
AMBASSADOR JENNIFER ZIMDAHL GALT’S FIRST OP-ED EDITORIAL
I arrived in Ulaanbaatar with no shortage of lofty goals to aspire to and new projects to pursue. My
top objective is promoting economic prosperity in Mongolia by working with the government of

12. Mongolia, U.S. companies, and business advocacy organizations to improve the business and
investment climate. Accordingly, I believe that implementation of our bilateral Transparency
Agreement is essential in signaling that Mongolia is acting to ensure transparency in policies. A
second economic priority is collaborating with the government of Mongolia and the Millennium
Challenge Corporation (MCC) to deliver a second compact for Mongolia.
Thinking about the next 25 years and beyond of Mongolia’s democracy, I often think about one of
Mongolia’s greatest assets: its youth. One of my priorities as ambassador is to grow the country’s
next generation of democratic leaders and instill in Mongolia’s youth a strong commitment to
democracy and to prepare them to lead the way in all areas of society.
Jennifer Zimdahl Galt is the U.S. Ambassador to Mongolia.
Source: U.S. Embassy to Mongolia
BCM UPDATES
KNOWLEDGE SHARING SESSIONS
BCM Knowledge Sharing Session was organized on December 24, 2015 at the Ulaanbaatar City Public
Library with 31 people from 19 member companies attending. The topic of this month's session was
“Implementation of System Certification Standards and its Benefits” facilitated by D.Otgonbat,
Director of Observe Consulting LLC. The topic covered System Certification standards, why they are
important for business and how to adopt and implement SC standards in Mongolia. The feedback
collected from attendees showed that 95% informed that their training needs were met; 60% said
their expected topics were fully covered; the remaining 40% informed their expected topics were
partially covered. 25% of participants proffered to extend the duration of the session. Otgonbat D is
a Certified Management Consultant and Lead Auditor for QMS (ISO9001), EMS (ISO14001), OHSMS
(OHSAS18001) and EnMS (ISO50001) certified by the Professional Evaluation and Certification Board.
Mr. Otgonbat also works as a national trainer for Sustainable Finance Initiative.
BCM ADVOCACY NOTES
Majority supports review of the “Long-Term Sustainable Development Mission of Mongolia” in
parliament
On January 13, 2016 the State Structure’s Standing Committee was convened to discuss whether to
submit the draft resolution regarding the Long-Term Sustainable Development Mission of Mongolia
2016-2030, initiated by ten Members of the Parliament namely B.Garamgaibaatar, S.Byambatsogt
and N.Battseregby and others, to the parliamentary session for review. At the Standing Committee’s
meeting, MP S.Byambatsogt, one of the initiators of the draft law has delivered a presentation on
the draft resolution. 66.7 percent of the members who participated in the meeting, agreed to
submit the draft resolution for review at the parliamentary session. Review of the draft resolution is
billed at the 10th issue item on today’s parliamentary session.
Source: www.parliament.mn
Parliamentary draft resolution of “Long-Term Sustainable Development Mission of Mongolia” is
presented
On January 4, 2016 Chairman of the State Great Khural (Parliament) Mr. Zandaakhuu Enkhbold was
presented a parliamentary draft resolution regarding the Long-Term Sustainable Development
Mission of Mongolia 2016-2030, by the Chairman of the State Structure’s Standing Committee MP A.
Bakei, Vice-Chair of the Democratic Party Caucus MP S. Odontuya, Chair of the “Justice Coalition”
at the Parliament MP N. Battsereg and MP S. Demberel. To view the draft resolution in Mongolian
language, please click here.
Draft Labor Law (Draft Law) is returned to the Government

13. On 10 December 2015 at the plenary session of the Parliament it was decided to return the Draft
Labor Law (Draft Law) to the Government based on multiple conceptual and editorial comments
provided by a wide range of stakeholders.
There is no indication of further meeting/discussion held in relation to the Draft Law; and the Draft
Law is currently being on hold. Furthermore, the working group is aiming to submit the amended
Draft Law to the spring session of Parliament, which will be held around April 2016.
The Economic Council, established by the decree of the Prime Minister Ch. Saikhanbileg in 2015, is
currently working on the draft Law on Arbitration. BCM’s Legislative Working Group reviewed the
draft law and provide key comments. In its scheduled meeting on Friday, December 11, the
Economic Council was positive toward BCM's comments.
For more information, please contact Working Group Coordinator at khulangoo@bcmongolia.org.
BCM WORKING GROUP NEWS
‘BCM in the University Classroom’ series
Guest Speaker: Jon M. L. Lyons, Country Representative, GGGI,
Presentation topic: "Pathways to Greening Economic Growth in Mongolia and beyond"
Where & When: at the University of Humanities on 24 November 2015 and at the Institute of
Finance and Economics on 3 December 2015
Jon M. L. Lyons, Country Representative, GGGI, gave presentation titled "Pathways to Greening
Economic Growth in Mongolia and beyond" at the University of Humanities (UoH) on 24 Nov 2015 and
Institute of Finance and Economics (IFE) on 3 Dec 2015. Over 80 senior students attended the
lecture from the UoH and over 70 students from IFE.
Mr. Lyons, fluent in Mongolian, delivered his presentations in Mongolian. The presentations were
followed by question and answer sessions. While students at the UoH were curious about his recent
project on model green public kindergarten to be built in Songinokhairkhan district of Ulaanbaatar,
students at IFE were asking questions about the size of projects eligible for green finance,
monitoring and reporting requirements for donor-funded projects and vacancy at GGGI or possibility
of doing an internship there.
For more information, please contact Khulangoo, Working Group Coordinator at
khulangoo@bcmongolia.org and Bayarmaa Amarjargal, Vice Director at bayarmaa@bcmongolia.org.
_________________________________________
BCM’s Logistics Working Group
BCM’s Logistics Working Group (LoWG) met on Tuesday, 8 December at MonEx office, 6F Vista Office
Building with 7 people in attendance representing Mongolian Express Co., Ltd. (known as Monex),
Representative Office of Mitsui & Co., Ltd. in Ulaanbaatar, Khaan Shorgoolj LLC and KGB TEGBE-
Dolgoon Delgerekh LLC.
Agenda of the meeting:
• Featured guest speaker: Bayarbat – “From Hand to Hand; Challenges Faced”
• Discuss and plan WG’s 2016 activities
Upon introducing new members, Enkhbat D.-Logistics WG Chair, invited the featured speaker, Mr.
Bayarbat, to deliver a presentation about KGB TEGBE-delivery services. Other than introducing the
company, Bayarbat’s presentation touched on wider aspects such as the culture of delivery service
in Mongolia at large, challenges his new up-and-coming company is facing and possible solutions in
the delivery logistics within Ulaanbaatar.
Meeting participants were interested in the expansion plans of the company, such as delivery
services within Mongolia, cargo service between USA and Mongolia, to which Bayarbat gave
comprehensive answers about the company’s plan for establishing cargo service between South
Korea and Mongolia initially and delving into other markets.

14. Enkhbat D., Chair of the Logistics WG (LoWG), presented his plan for reviving WG activities in 2016.
He again encouraged our members to read through the soft ideas laid out and provide comments.
Since logistics fosters many elements, it was decided to focus on a certain theme for each meeting,
so that members interested or operating in that topic area can actively participate and bring in
more insight.
The meeting was concluded with an action item for the BCM WG Coordinator to follow-up the
questionnaire and request customers to provide comments on the 2016 plan by COB 28 December.
For more information about this meeting, please contact Khulangoo Purevjav, Working Group
Coordinator of BCM, at khulangoo@bcmongolia.org.
_________________________________________
BCM’s Energy and Environment Working Group
BCM's Energy and Environment WG meeting was held on 3 December, 2015 at EEIBC from 16:30-
18:30. The meeting was attended by 16 people with the following stakeholders:
Private sector: Newcom, Sopocco LLC, Areva Mongol LLC, Observe Consulting LLC, MCS Energy
Government: Ministry of Environment, Green Development and Tourism, Energy Development
Center of Ministry of Energy
Others: GGGI, WCS, French Embassy, Embassy of Canada
Guests: Sustainable Fiber Alliance
New members: D. Otgonbat, Observe Consulting LLC and Ch. Sarnai, Clean Energy Asia of Newcom
Group
Agenda of the meeting:
Discussion Topic: What's happening in Paris during Climate change events: What are the implications
for private sector?
Introduction and Opening remarks by Working Group Chair
"Introduction about Climate Change Conference/21 and Mongolia's commitment status" by D.Saruul,
Project Manager, Biennal Update Report to UNFCCC.
"Introduction about French Embassy and Overview about COP21 in Paris" by Raphael Droszewski,
First Advisor, Chief Adjoint de mission et Consul, The Embassy of France in Mongolia
Discussion on the topic among participants
Meeting minutes summary:
Bulganmurun Tsevegjav, Senior Program Officer of GGGI-Mongolia and Chair of the BCM’s Energy &
Environment WG (EEWG), introduced Jon Lyons, GGGI’s Country Representative to Mongolia, as an
upcoming Chair of the EEWG for 2016 during her absence.
Key points agreed during the meeting was to organize the next meeting in Jan or Feb 2016 following
up on the COP21 outcomes, updates on financial mechanisms, available funds and incentives for
private sector to develop low-carbon projects and to discuss its implications for the private sector.
For more information, please contact Bayarmaa Amarjargal, Vice Director at
bayarmaa@bcmongolia.org.
_________________________________________
BCM Risk Working Group
BCM’s Risk Working Group’s “year-end” meeting was held on Thursday, 3 December at Silk Road
Restaurant, with 14 members in attendance representing Mandal Insurance, Thiess Mongolia,
XacBank, Churchill’s, Wagner Asia, Erdenes Tavan Tolgoi, Deloitte Onch Audit, Bagatumurch and
Observe Consulting.
Agenda of the meeting:
• Featured guest speaker: Christine Hudetz, Transparency International Managing Compliance Risk –
TI TOOLs and examples
• Working group's overview of year 2015
• Discuss and plan WG’s 2016 activities
BCM’s upcoming 8th WG-Business Ethics Co-chair Ms. Christine delivered comprehensive
presentation about Transparency International (TI) and examples of innovative tools developed by

15. TI. Members were interested in the UK Bribery Act, which straddles the public/private divide to
encompass all commercial activities.
Zaya Bolorbold, Co-chair of the Risk Working Group (WG) introduced plans for 2016, with Mark
Bailey Co-chair of the Risk WG clarifying the proposed idea for disaster management drill exercise.
It was agreed to send the WG plan for 2016 to members for comments and convene for next
scheduled meeting in January 2016.
The “year-end” meeting was concluded with delicious dinner graciously provided by Mandal General
Insurance. For more information about this meeting, please contact Khulangoo Purevjav, Working
Group Coordinator of BCM at khulangoo@bcmongolia.org.
_________________________________________
BCM Education Working Group
BCM’s Education Working Group was held on 26 November 2015 at Executive Excellence
International Business Center, 10F Galaxy Tower from16:00 to 18:00. Fifteen people attended the
event representing foreign mission in Mongolia, private sector, universities and consultants of donor
funded projects:
Foreign Mission: Canadian Embassy;
Universities: National University of Mongolia, Mongolian University of Science and Technology
Private sector: PwC, Minter Ellison
Donor organizations: Save the Children, Support to Mongolia’s Technical and Vocational Education
and Training Sector-EU, Cooperative Vocational Training in the Mineral Resource Sector-GIZ, The
Global Fund;
Agenda of the meeting:
16:05-16.10 Introductions
16:10-16:25 Update on Higher Education Reform Project activities (IRIM/Saha)
16:25-16.40 Update on Vocational and Technical Education Activities (VETP/Pascal)
16:40-17:10 Update on Labor Law Amendments, TVET Law Amendments: Higher Education
Amendments (IRIM/Saha)
17:10-17:30 Updates by members (FLP, Mandal)
Meeting minutes summary:
Opening remarks by Education Working Group Chair-Saha Meyanathan with passing of the
information about being selected as the best Working Group of the year 2015.
Status update by Manlaibaatar Z., Deputy Director of IRIM on the pilot project results of the ADB
funded Higher Education Reform Project (HERP). The dissemination workshop for the Universities
will be organized first week of December.
During the Q&A session, Professor Purevdorj of MUST highly emphasized on the importance of
building the capacity of the professors, as they are the ultimate knowledge givers to the students.
The WG members were given a matrix developed by Dr. Saha, on three draft laws: TVET, Higher
education and Labor law. During a Q&A session, participants made remarks related to the Matrix, to
highlight a few:
For more information about this event, please contact Khulangoo Purevjav, Working Group
Coordinator of BCM at khulangoo@bcmongolia.org.
_________________________________________
BCM Capital Markets Working Group
The BCM Capital Markets Working Group meeting was held on Tuesday, 15 September, at
Ulaanbaatar City Public Library program room with 42 participants attending.
The expanded meeting included 34 companies from BCM members.
Moderator of session was Nick Cousyn, COO, BDSec and co-chair of the BCM Capital Markets WG.
The following presentations were made during the meeting:
- "Khan Bank update" - by Norihiko Kato, CEO of Khan Bank
- "Trade & Development Bank update" - by Randolph S. Kappa - President of Trade & Development
Bank

16. Please contact Erdenetsetseg T, BCM Working Group co-coordinator at khulangoo@bcmongolia.org
for more information about the meeting outcomes.
_________________________________________
BCM Tax Working Group
The BCM Tax Working Group (TWG) met on Thursday, 27 August, with 12 members attending.
Onch Dendevsambuu-Deloitte Onch and Tsendmaa Choijamts-PricewaterhouseCoopers, Co-Chairs of
the TWG, moderated the session.
New participants: Bolortsetseg T, Khan Bank; Boloroo T, Thiess Mongolia.
Meeting agenda was to review the draft amendments to the CIT Law.
The summary comments from the TWG will be sent next week to BCM's chair, Byambasaikhan B, for
follow-up with key GoM officials.
Next TWG meeting will review the newly adopted VAT Law which will be in effect 1 January, 2016.
Please contact T. Erdenetsetseg, BCM Working Group Coordinator, at khulangoo@bcmongolia.org .
_____________________________________________________________________________________
WEBSITE UPDATES: PRESENTATIONS, MONGOLIA REPORTS, INTERVIEWS
Presentations:
BCM Monthly meeting on December 7:
- Mergen Chuluun, Managing Director, Nomadic Expeditions - “YPO Mongolia: Building Better
Leaders Through Education & Idea Exchange”
- Meloney C Lindberg, Country Representative, The Asia Foundation and L. Sumati, Director, Sant
Maral Foundation - “Introduction and Key Findings of Private Sector Corruption Perception Survey –
STOPP”
- S. Galbadrakh, Specialist at Prevention and Education Department, Independent Authority Against
Corruption (IAAC) of Mongolia - “Introduction of IAAC”
- Terrence Edwards, Editor-in-Chief, BCM NewsWire - “Overview of the BCM NewsWire”
_________________________________________
Mongolian Annual Risk Management Forum, 11 November:
- “A Practical Case Of Implementing A Risk Management Strategy In Corporate Governance” -
Garrett Wilson Director, Risk Management, Compliance & Outsourced Services Wagner Asia Group
- “Public Buildings And Disaster Risk Management” - Sam Sallam, President, Best Western
International Mongolia
- "Organization Psychological Management" - Delgermend.Ts, Organizational Psychologist,
NPC&Mandal LLC
- "New macroeconomic balance A shift from consumption to saving" - Munkhbayar Tedevsuren, Head
Of The Coordination And Analytic Unit Under Financial Stability Council Advisor To The Governor
- "Macro-Economic Outlook 2016" - Ankhbayar Chuluunbat, Senior economist, Mandal General
Insurance
- "Global Perspective On Risk Management During Economic Slowdown" - Matthew Pottle, PwC
Mongolia
- "Corporate Crises Management" - G.Odbayar, Mining National Operator
_________________________________________
BCM Monthly Meeting on 2 November:
- Andrew Woodley, CEO, Oyu Tolgoi LLC -“Oyu Tolgoi: Delivering globally competitive copper
business”
- Susan Cote-Freeman, Program Manager Private Sector Team, Transparency International -
“Introduction to Transparency International’s Business Principles for Countering Bribery”
- Elisabeth Ellis, Partner, Minter Ellison LLP - “Impact on your business of the proposed new Labor
Law”
_________________________________________

17. BCM’s “Knowledge Sharing” event at EEIBC on October 9
- Dr. Nigel Finch, Managing Director, Saki Partners, “Strategically Managing Mongolia’s Sovereign
Credit and Perception Ratings”
_________________________________________
Presentations at BCM Monthly Meeting on 28 September:
- Mend-Orshikh, Founder & President, New Media Group, “Sales and business opportunities using
BCM online platform”
- Steve Potter, Executive Director, Wagner Asia Group, “Corporate Ownership vs. Corporate
Responsibility: How a foreign owned company can contribute to the well-being of Mongolia. Case
Study: WAGNER ASIA Group”
- Cameron McRae, Chief Executive Officer of Tarva Investment and former CEO of OT LLC,
“Competitiveness in Central Asia”
- Saha Meyanathan, CEO, EEIBC and Chairman of BCM Education Working Group, “BCM and
Mongolia's Education & Capabilities Agenda”
_________________________________________
Presentation at Discover Mongolia 2015 on 3 September:
- S. Javkhlanbaatar, General Director, Invest Mongolia Agency, “Opportunity to invest in the mining
industry”
_________________________________________
Presentations at BCM Monthly Meeting on 24 August:
- Jennifer Bielman, Country Director, Mercy Corps Mongolia, "Mercy Corps in Mongolia - 15 Years of
Progress"
- Lee Cashell, CEO, APIP, “Overview of the Property Development Market”
- Anthony Woolley, Senior Associate, Hogan Lovells, “Legislative Update - 2015”
_________________________________________
Mongolia Reports:
- IMF, “World Economic Outlook, October 2015: Adjusting to Lower Commodity Prices”
- ADB, Financial Systems of Financially Less Developed Asian Economies: Key Features and Reform
Priorities (Sep 2015)
- Hogan Lovells, "Legislative update: 2015 Spring session of the Parliament of Mongolia"
- Oyu Tolgoi, "Scorecard July 2015 - Monitoring Our Performance"
- Sant Maral Foundation, "Survey on Perceptions and Knowledge of Corruption"
- Jim Dwyer, Executive Director, BCM, Rumsfeld Foundation’s, CAMCA Regional Forum, UB, June 20,
2015, “FDI Environment in Mongolia”
- Hogan Lovells, “Law on State Registration of Legal Entities”
_________________________________________
Interviews:
- Mongolian Economy Magazine, November 2015 issue - "In Order to Make the Labor Law More
Effective"
- Mongolia President Ts. Elbegdorj: Charlie Rose Show (PBS/Bloomberg TV-New York)
- BCM Monthly Meeting news coverage on Bloomberg TV, August 24, 2015;
- Jim Dwyer, Executive Director, BCM, Interview re BCM Business Growth Index, on Star TV News,
August 20, 2015;
- Jim Dwyer, Executive Director, BCM, Interview re BCM Business Growth Index, on Bloomberg TV
News, August 20, 2015;
- B.Byambasaikhan, CEO, Erdenes Mongol and Chairman, Business Council of Mongolia, INS interview

18. SOCIAL NETWORKS
The Business Council of Mongolia (BCM) has expanded its reach to your favorite social networks.
Keep up to date on the latest business deals in Mongolia and how the climate for investment is
improving each day with BCM.
Add BCM on Facebook at https://www.facebook.com/TheBusinessCouncilOfMongolia to read the
latest announcements and comment on events carried in the BCM NewsWire with the community.
Hear breaking news and announcements as they happen when you follow BCM on Twitter at
https://twitter.com/bcmongolia.
The bulk of the content on BCM’s new LinkedIn page is Mongolian language to better cater to BCM's
Mongolian-speaking audience and members. Please click on the below link to follow us on our new
LinkedIn page.
http://www.linkedin.com/company/business-council-of-mongolia?trk=company_logo.
Social stats: BCM now has 11,023 fans on our Facebook fans page, 1,957 connections on
LinkedIn network, and 1,947 followers on Twitter.
_________________________________________
BCM’s column in the Mongolian Economy Magazine began in Edition 12, May 2015. The first column
featured an interview with Mr. I. Ser-Od: "Times like these demand that we be more creative and
proactive." The second column was published in Edition 15, July 2015: “Entrepreneurs Set Up Study
Tours of Businesses.” The third column is in the current edition, September 2015: "Wagner Asia
Technology Innovations."
_________________________________________
The BCM NewsWire is used as source for the "MM Today" News program in English aired by Mongolia
National Broadcasting (MNB) on Fridays at 19:00.
_________________________________________
BCM now has a profile page at VIP76, one of the major online information networks in Mongolia.
From January 2013 to October 2015 we have posted a total of 103 news items related to BCM
activities, economic and business related updates.
_________________________________________
The "Photo Gallery" in Knowledge Hub section of the new BCM website has the most recent photos
from BCM events.
_________________________________________
As a BCM member you can now visit the official BCM website at http://bcmongolia.org to enjoy
newly introduced interactive features such as: edit your organization's profile information; post
vacancy notices from your organization; post cooperation proposals with other members or deals
you would like to offer to other BCM members; and start a forum and ask questions directly on the
web platform. Of course you can also visit our website for news information, interviews, event
photos, videos and announcements regarding BCM activities.
According to Google Analytics report as of December 11, 2015, the daily web traffic to BCM website
was 78 visitors with 93 sessions. 80% are from Mongolia, 6% from the USA and 2% from Australia and
2% from Japan.

19. ECONOMIC INDICATORS
INFLATION
Year 2006 6.0% [source: National Statistical Office of Mongolia (NSOM)]
Year 2007 *15.1% [source: NSOM]
Year 2008 *22.1% [source: NSOM]
Year 2009 *4.2% [source: NSOM]
Year 2010 *13.0% [source: NSOM]
Year 2011 *10.2% [source: NSOM]
Year 2012 *14.0% [source: NSOM]
Year 2013 *12.5% [source: NSOM]
Year 2014 *11.0% [source: NSOM]
November 30, 2015 *2.9% [source: NSOM]
*Year-over-year (y-o-y), nationwide
Note: 1.9% y-o-y; 5.3% Core, Ulaanbaatar City, November 30, 2015
CENTRAL BANK POLICY LOAN RATE
December 31, 2008 9.75% [source: IMF]
March 11, 2009 14.00% [source: IMF]
May 12, 2009 12.75% [source: IMF]
June 12, 2009 11.50% [source: IMF]
September 30, 2009 10.00% [source: IMF]
May 12, 2010 11.00% [source: IMF]
April 28, 2011 11.50% [source: IMF]
August 25, 2011 11.75% [source: IMF]
October 25, 2011 12.25% [source: IMF]
March 19, 2012 12.75% [source: Mongol Bank]
April 18, 2012 13.25% [source: Mongol Bank]
January 25, 2013 12.50% [source: Mongol Bank]
April 8, 2013 11.50% [source: Mongol Bank]
June 25, 2013 10.50% [source: Mongol Bank]
July 30, 2014 12.00% {source: Mongol Bank}
January 14, 2015 13.00% {source: Mongol Bank}
January 14, 2016 12.00% [source: Mongol Bank]
CURRENCY RATES – 14 January 2016
Currency
US dollar USD 1,999.93
Euro EUR 2,171.72
Japanese yen JPY 16.93
British pound GBP 2,881.10
Hong Kong dollar HKD 257.43
Chinese Yuan CNY 303.57
Russian Ruble RUB 26.18
South Korean won KRW 1.65