Inside Mongolia

07/09/2025

The implementation of the Smart City project, aimed at reducing congestion, air pollution, and overpopulation in Ulaanbaatar, has entered a new phase. Initially launched through a partnership between Austria-based Teichmann & Compagnons Property Networks GmbH and AIG Group, a subsidiary of Ard Financial Group (AARD), the project now welcomes one of Mongolia’s leading national investors—Ajnai Corporation—as a strategic partner. 🤝

The implementation of the Smart City project, aimed at reducing congestion, air pollution, and overpopulation in Ulaanbaatar, has entered a new phase. Initially launched through a partnership between Austria-based Teichmann & Compagnons Property Networks GmbH and AIG Group, a subsidiary of Ard Finan...

07/09/2025

Swiss luxury watchmaker Breitling, which celebrated its 140th anniversary in 2024, has officially opened its first flagship boutique in Ulaanbaatar. The launch brings the brand’s global retail network to over 290 boutiques, more than double the number it had in 2017, reflecting its ambitious international expansion strategy.

Located in Central Tower, the new boutique introduces Breitling’s industrial-retro design to Ulaanbaatar, complete with signature elements like a motorbike and pool table. It showcases the brand’s full collection, from the iconic Navitimer to the Top Time and Superocean Heritage 36mm, highlighting Breitling’s growing focus on inclusivity and women’s timepieces.

The boutique was inaugurated by CEO Georges Kern, whose visit underscores Breitling’s confidence in Mongolia’s evolving consumer landscape. With Mongolia’s luxury goods market revenue projected to reach $22.8 million in 2025 and grow at an annual rate of 2.3% through 2030, Breitling’s Ulaanbaatar boutique opening arrives at a promising moment to capitalize on this emerging sector.

07/09/2025

UK joins the Ulaanbaatar Metro Project. 🚇

The United Kingdom has formally joined efforts to support Mongolia’s first-ever metro system, as Ulaanbaatar’s Mayor signed a Memorandum of Understanding with UK Export Finance (UKEF) to advance financing for the long-anticipated Ulaanbaatar Metro Project.

About the Ulaanbaatar Metro Project

Planned to run 19.4 kilometers underground at depths of 17 to 24 meters, the metro’s first line carries an estimated cost of $2.4 billion. The city government has committed to financing 15% of the project through its own budget, with the remaining 85% expected from international partners.

The agreement was signed during the second day of the Mongolian Economic Forum. Ulaanbaatar’s Mayor emphasized that the metro not only represents a major step toward alleviating urban congestion, but also signals a new phase in UK–Mongolia economic cooperation.

07/07/2025

The Mongolian Economic Forum (MEF) to commence tomorrow under the theme “Together for Tomorrow”. 🇲🇳🌐

“MEF 2025” will officially take place on July 8–9, gathering over 4,000 participants, including policymakers, private sector leaders, experts, and youth. With the theme “Together for Tomorrow,” this year’s forum emphasizes the importance of collaboration in shaping Mongolia’s economic future.

A series of discussions, side events, and networking opportunities will provide a platform to explore solutions for sustainable development, economic resilience, and shared prosperity.

07/07/2025

🤴 Japan’s Emperor in Mongolia

Japan’s Emperor is making a historic visit to Mongolia, marking his third overseas trip since ascending the throne in 2019. His previous state visits were to Indonesia and the United Kingdom.

💁‍♂️ A Longstanding Partnership

This year marks the 53rd anniversary of diplomatic ties between Mongolia and Japan. Japan remains one of Mongolia’s key “third neighbors” and the only country with which it has signed a free trade agreement (FTA).

❤️‍🔥 One & Only: Despite the FTA, trade between the 2 nations remains highly unbalanced. In the 3 years prior to the agreement, 2014–2016, Mongolia exported $25 million worth of goods to Japan, while imports totaled $367.8 million. After the FTA, 2017–2019, exports rose to $48 million, but imports surged to $1.8 billion, widening Mongolia’s trade deficit with little growth in exports.

🔗 Visit: https://insidemongolia.mn/post/sA1RPV5cgEa

07/04/2025

Did you know?

There’s an outlaw motorcycle gang in the U.S. called the Mongols, but they have no actual connection to Mongolia or Mongolians. Founded in California in the 1970s, the Mongols Motorcycle Club, also known as the Mongol Brotherhood or Mongol Nation, deliberately adopted the name to evoke the strength and fearlessness historically associated with Mongol warriors. 🏍️

But in reality, the group has built its reputation not through honor or tradition, but through criminal activity such as drug trafficking, violence, and illegal weapons. The Mongols are considered one of the most notorious outlaw biker gangs internationally.

Recently, the FBI arrested 28 members of the gang during Operation Mongolian Beef, a major crackdown on gang-related violence in Florida. The operation’s name was a tongue-in-cheek reference to the gang’s chosen identity, though the group and its actions have nothing to do with Mongolia.

Why it matters for Mongolia?

While the gang’s name is purely symbolic, headlines like “Mongols Gang Arrested” or “Operation Mongolian Beef” can easily mislead people unfamiliar with the facts. This risks unfairly linking Mongolia and Mongolians to crime and violence they have no part in.

In fact, in 2019, a U.S. jury ruled that the gang should be stripped of their trademarked Mongols logo to curb their misuse of Mongolia’s historic image. Yet, the group continues to use the name and symbols, showing how they exploit this identity despite legal challenges.

⚠️ Next time you hear about the Mongols Gang or “Operation Mongolian Beef,” please recognize that these issues are entirely separate from Mongolia and its national identity.

07/03/2025

Now in its 16th year, the Mongolia Economic Forum is the country’s largest platform where the Government of Mongolia, businesses, citizens, and international investors meet, present effective projects and programs, and discuss pressing issues.

👥 This year’s Forum is expected to include 500 government representatives, 900 from the private sector, NGOs, and academia, 700 international guests, 100 moderators and panelists, 100 representatives from sponsoring organizations, 100 volunteers, and over 2,000 youth participants.

Now in its 16th year, the Mongolia Economic Forum is the country’s largest platform where the Government of Mongolia, businesses, citizens, and international investors meet, present effective projects and programs, and discuss pressing issues. Within the framework of the 2025 Forum program, which ...

07/03/2025

Following the groundbreaking success of the Mongolian national women’s 3x3 basketball team in clinching the World Cup silver medal on home soil, the nation has come together to celebrate their historic achievement. 🏆

The President of Mongolia honored 4 team members with the esteemed title of “Honored Athlete of Mongolia,” while coach Stephen Sir received the “Friendship” Medal in recognition of his vital role in guiding the team to victory.

In addition to these prestigious awards, the government granted ₮500 million to the team, and starting January 1 next year, the athletes will receive a lifelong monthly stipend of ₮1 million. The Ministry of Culture, Sports, Tourism, and Youth also recognized their efforts by awarding each athlete ₮25 million, with the coaching staff receiving ₮50 million.

Ulaanbaatar’s mayor didn’t hold back, handing out housing certificates worth ₮150 million to each player, effectively granting them the right to purchase an apartment financed through a 15-year mortgage.

And just when it seemed the celebrations couldn’t get bigger, MCS Group, Mongolia’s corporate heavyweight, stepped in to drop a cool ₮1 billion bonus on the team, proving that in Mongolia, winning on the court can also mean winning off it.

🎈This is how Mongolians celebrate success.

07/03/2025

Erdene Resource Development’s common shares have commenced trading on the OTCQB® Venture Market (“OTCQB”) in the United States under the symbol “ERDCF”. 📊

This milestone is expected to enhance visibility and accessibility for U.S. investors interested in Erdene Resource Development’s projects. The OTCQB, often referred to as the “venture market,” is a trading platform for early-stage and developing companies that meet specific financial and disclosure standards. It is considered a step up from the more speculative OTC Pink Market, offering investors greater transparency.

In parallel, Erdene Resource Development’s shares have also become DTC-eligible, a significant development that simplifies trading for U.S. investors. The Depository Trust Company (DTC), part of the U.S. financial market infrastructure, handles the electronic clearing and settlement of publicly traded securities. DTC eligibility means that Erdene’s shares can now be traded electronically in the U.S., making transactions faster, more efficient, and cost-effective for both investors and brokers.

The company emphasized that its shares will continue to trade on the Toronto Stock Exchange (TSX) under the symbol ERD.

This dual-market approach is designed to broaden Erdene’s shareholder base and make it easier for U.S. investors to participate, especially as global interest in critical mineral projects grows.

07/01/2025

☔️ UB’s Sudden Summer Rains: Blessing or Economic Burden?

As if answering residents’ jokes that “Summer’s nowhere in sight,” the skies over Ulaanbaatar have opened up, bringing unexpected, heavy rain. But behind the record-breaking showers lie serious economic and infrastructure challenges.

🌧 Precipitation Hits a New High

In 2024, Mongolia recorded an average rainfall of 280.6 mm, marking it as the 6th wettest year since 1940. In the capital alone, total rainfall from May to August jumped 41.5% compared to 2021, the highest in a decade. But beyond breaking records, the unexpected rain is testing the city’s aging infrastructure.

💡 Economic Side Effects of Heavy Rain

Studies show that heavy rain reduces labor productivity by 10–25%. In Ulaanbaatar, flooded roads, waterlogged shops, and severe traffic congestion have further dragged down daily business activity.

🔗 Visit: https://insidemongolia.mn/post/Epuk8ce2LPv

06/30/2025

💸 Telegram Scams Surge in Mongolia, Costing Billions

Mongolia is facing a sharp rise in fraud cases linked to the popular messaging app Telegram, with authorities reporting over ₮1.3 billion, approximately $380,000 in losses in Ulaanbaatar’s Chingeltei District alone during the first 5 months of 2024–2025.

📊 Chingeltei District Hit Hard

According to the prosecutor’s office, 1,274 fraud cases were registered in Chingeltei District during the period, 76 of which, roughly 6% were connected to scams conducted via Telegram. Victims were often lured by false promises of high-paying online jobs or quick financial returns, only to find themselves transferring money to unknown accounts.

🌍 A Nationwide Concern

Nationwide, Telegram-related fraud resulted in ₮11.9 billion in losses in 2024 and a further ₮7.3 billion by May 2025. Authorities have responded by freezing suspicious bank transactions worth ₮15.6 billion to protect victims and curb criminal networks.

🔗 Visit: https://insidemongolia.mn/post/hCPfdtfsKcB

06/29/2025

The Mongolian women’s national 3x3 basketball team made history by claiming the silver medal at the FIBA 3x3 World Cup 2025, held in Ulaanbaatar. This marks Mongolia’s best-ever result in a team sport at a world championship. 🏀🏆

⛹️‍♀️ In their fourth World Cup appearance, the home team delivered a stunning tournament run, culminating in a gold medal match against the Netherlands. Despite a valiant effort, Mongolia fell short with a final score of 15–9, earning a well-deserved second-place finish.

This silver medal represents a landmark achievement not only for Mongolian basketball but for the country’s entire sporting community. It also stands as a proud moment for women’s sports in Mongolia, with the national team etching their names into history as global contenders on the world stage.