On March 25, Prime Minister of Mongolia, L. Oyun-Erdene, received Ambassador Extraordinary and Plenipotentiary of Canada to Mongolia, Sandra Choufani.

At the beginning of the meeting, Ambassador Sandra Choufani announced that the Government of Canada would extend 215,000 Canadian dollars in humanitarian aid to Mongolian herders to address the escalating Dzud situation, compounded by worsening spring conditions across Mongolia.

Prime Minister L. Oyun-Erdene expressed his satisfaction that, on the occasion of the 50th anniversary of diplomatic relations between Mongolia and Canada in 2023, bilateral ties have been elevated to the status of a comprehensive partnership. He conveyed gratitude on behalf of the Government of Mongolia and its people for Canada’s timely assistance, marking the dawn of a new era in relations between the two nations.

Ambassador Sandra Choufani expressed appreciation to Prime Minister L. Oyun-Erdene for the opportunity to meet and affirmed her commitment to fostering expanded relations and cooperation between Mongolia and Canada across all sectors.

On March 22, Prime Minister L. Oyun-Erdene welcomed Kurt M. Campbell, the visiting Deputy Secretary of State of the United States, to Mongolia.

In their meeting, both parties expressed their mutual commitment to strengthening the strategic partnership between Mongolia and the United States, enhancing cooperation across various sectors of interest, and fostering economic ties. They also reviewed the progress made since Prime Minister L. Oyun-Erdene’s official visit to the United States in August 2023. Specifically, discussions centered around initiatives such as establishing direct flights between the two countries, enhancing English language education for Mongolians, and promoting private sector collaboration in space exploration.

Prime Minister L. Oyun-Erdene emphasized the significance of the United States as a key “Third Neighbor” and strategic partner of Mongolia, highlighting the consistent support received from the U.S. in Mongolia’s transition to democracy and a free-market economy. He expressed gratitude for the $900,000 in aid provided by the U.S. government to assist Mongolian herders affected by severe weather conditions, known as Dzud.

Deputy Secretary of State Kurt M. Campbell reaffirmed the United States’ pride in being Mongolia’s “Third neighbor” and pledged to further elevate bilateral cooperation, grounded in shared democratic values, human rights, and freedom. He underscored his commitment to expanding cooperation across sectors, fostering people-to-people exchanges, and deepening the friendship between the two nations.

During the regular Cabinet meeting held on March 20, 2024, the Government passed a resolution to increase pensions provided by the Social Insurance Fund and military pensions by MNT 100,000.

With this adjustment, the minimum threshold for both old-age pensions and military pensions will be raised to MNT 650,000. Additionally, the minimum amount for proportional pensions will increase to MNT 540,000. This resolution will come into effect on April 1.

The Government has consistently raised all types of pensions provided by the Social Insurance Fund in 2018, 2019, 2020, 2022, and 2023, in line with changes in the cost of living. As a result of these measures, the average pension has doubled to MNT 685.6 thousand compared to 2016.

According to data released by the General Department of Social Insurance in November 2023, approximately 59 percent (288,400 individuals) out of a total of 493,000 pensioners receive the minimum pension amount.

Amendments Made to Regulations for Granting Child Allowances

During the Cabinet session, amendments were made to the regulations for granting child allowances.

For each child under the age of 14 living in an orphanage, the orphanage will open a bank account and deposit the child’s money. For children aged 14 and older, a current account will be opened, with 80 percent of the child’s money deposited in the bank and the remaining 20 percent managed by the child. Additionally, this account will be equipped with an electronic card.

This arrangement allows children in orphanages to utilize 20 percent of their money for personal needs such as school supplies and extracurricular activities. The practice of depositing the remaining 80 percent in the form of deposits or savings accounts will continue.

As of January 2024, a total of 924 children and young people aged up to 18 are being cared for in 29 welfare centers and orphanages operated by 20 organizations across Mongolia. Based on changes to the 2021 Child Allowance Regulations, allowances are now deposited into the child’s account following an assessment by child rights inspectors.

Sovereign Wealth Fund Law to be Presented to Parliament

At the Cabinet meeting, D. Amarbayasgalan, Chief of the Cabinet Secretariat, presented a draft law on the Sovereign Wealth Fund. Following the presentation, the Cabinet decided to submit the draft law to Parliament for consideration.

The proposed legislation aims to establish a Sovereign Wealth Fund to ensure the fair and sustainable distribution of income generated from Mongolia’s natural resources to all citizens, both present and future. The draft law outlines the fund’s revenue sources, designated purposes, asset management structure, and regulatory controls.

Draft Law on Mitigating Challenges and Risks in Livestock Husbandry to be Developed

During the Cabinet meeting, D. Amarbayasgalan, Chief of the Cabinet Secretariat, and Kh. Bolorchuluun, Minister of Food, Agriculture, and Light Industry, were tasked with developing a draft Law on Mitigating the Negative Impacts of Climate Change on Nomadic Livestock Husbandry and a draft Plan of Measures to Ensure the Sustainable Development of Livestock Production for submission to the Cabinet.

The adoption of this law and the comprehensive plan is expected to:

·       Establish a stable supply chain for livestock and livestock-derived products, leading to increased income for herders and an improved standard of living.

·       Reduce rural-urban migration, revitalizing rural areas.

·       Ensure stable livestock production, improve livestock quality and breeding, and meet hygiene standards.

·       Establish environmentally friendly, climate-resilient livestock enterprises capable of managing risks effectively.

·       Improve pasture utilization, enhance fodder cultivation practices, and upgrade livestock fencing.

·       Maximize the utilization and benefits of government incentives aimed at promoting livestock production.

·       Foster public-private partnerships, incorporating input and initiatives from herders while aligning with market principles.

The “GoMongolia” event unfolded during the 54th World Economic Forum held in Davos, Switzerland, on January 18, 2024, marking Mongolia’s official announcement to boost tourism in 2024 under the initiative “GoMongolia.”

Addressing the audience at the event, the Prime Minister remarked, “In 2023, Mongolia achieved significant economic milestones, fostering a conducive investment environment. As part of a comprehensive tourism promotion strategy, the successful implementation of air transport liberalization enabled flights to 155 destinations across 42 countries. This initiative also led to the expansion of domestic flight routes and a subsequent reduction in airfare. Through targeted foreign advertising, Mongolia’s narrative reached an audience of 155 million people worldwide. Consequently, the country welcomed 650,000 tourists in 2023, generating a noteworthy $1.2 billion in revenue from the tourism sector. Moreover, Mongolia’s positive perception surged by approximately 40 percent, elevating its international reputation and securing its position as a top travel destination for the first time.”

The event brought together distinguished guests, including Joo-Ok Lee, Head of Regional Agenda for Asia-Pacific at the World Economic Forum; Piyamit Bing Chomprasob, Deputy Head of Regional Agenda for Asia Pacific at the World Economic Forum; Matthew Chamberlain, CEO of the London Metal Exchange; Francois Valerian, Chief Board of Directors of Transparency International; Tony Fernandes, Founder of Air Asia; and Jakob Stausholm, CEO of Rio Tinto.