Mongolia’s Prime Minister, Oyun-Erdene Luvsannamsrai, held a courtesy meeting with Russian President Vladimir Putin, who is on an official visit to Mongolia to mark the 85th anniversary of the victory at the Battle of Khalkh River.

During their discussion, Prime Minister Oyun-Erdene Luvsannamsrai expressed his satisfaction with the active development of relations and cooperation between the two countries. He emphasized his intention to enhance the comprehensive strategic partnership through targeted projects and programs spanning political, economic, educational, cultural, and humanitarian sectors.

The Prime Minister also expressed his delight at the progress of the Eg River Hydroelectric Plant project, which was a key topic at the 7th Eastern Economic Forum.

Both leaders voiced their desire to establish a temporary free trade agreement between Mongolia and the Eurasian Economic Union (EAEU) to expand and deepen bilateral trade, economic, and investment cooperation.

They agreed that such an agreement would significantly boost Mongolia’s exports of products such as meat, leather, wool, cashmere, carpets, and cement to the EAEU, including the Siberian region of Russia. Prime Minister Oyun-Erdene Luvsannamsrai also emphasized the importance of the agreement between the two governments on cooperation in the supply of strategically important energy and oil products to Mongolia, noting this as a highlight of the Russian President’s visit.

Additionally, the two leaders exchanged views on accelerating major projects and programs, particularly the Mongolia-Russia-China Economic Corridor initiatives, which include the development of the central axis railway, the establishment of an eastern railway corridor, and the creation of an international tourism zone.

MIAT, Mongolia’s national flag carrier marked another milestone in its journey towards transport modernization with the reception of its second Boeing 787-9 Dreamliner on April 25. The Prime Minister L. Oyun-Erdene took part in the event and delivered an address at the aircraft’s welcoming ceremony.

Renowned for its cutting-edge technology and exceptional fuel efficiency, the Boeing 787-9 Dreamliner represents a significant asset for MIAT. Its advanced engines and lightweight design not only ensure remarkable fuel savings but also promise a serene travel experience for passengers, characterized by minimal cabin noise and top-tier amenities

The aircraft’s cargo capacity, amounting to 20 tons, underscores its pivotal role in enhancing cargo transportation links between Asia and Europe. With the potential to facilitate the carriage of up to 10,000 tons of cargo annually from Mongolia, it stands as a testament to MIAT’s commitment to bolstering trade and connectivity on regional and international scales.

Primed for long-haul journeys, the Boeing 787-9 Dreamliner opens up new horizons for Mongolia’s air travel ambitions. Plans are underway to leverage its capabilities for establishing direct routes to key destinations such as the USA, Singapore, and Australia, further enhancing Mongolia’s global connectivity and tourism prospects.

In his address during the ceremony, Prime Minister L. Oyun-Erdene highlighted the transformative impact of recent policy reforms on Mongolia’s aviation landscape. He remarked, “Mongolia achieved a significant milestone last year by welcoming 600,000 tourists and generating $1.2 billion in tourism revenue, establishing itself as a premier travel destination. As we embark on the journey of rapid tourism development in 2024, MIAT’s expanded fleet underscores our commitment to providing world-class air travel experiences.”

He further elaborated on the benefits of air transport liberalization, stating, “The liberalization of air transport has paved the way for direct flights from Mongolia to 155 cities across 42 countries in 2023, with projections indicating an expansion to 379 destinations in 52 countries by 2024. This policy shift has catalyzed a 3.5-fold increase in international flights and passenger traffic within the civil aviation sector, accompanied by a notable reduction in both international and domestic flight tariffs, benefitting travelers and stakeholders alike.”

On April 12, the Prime Minister of Mongolia, L. Oyun-Erdene, delivered a speech at the 8th Congress of Teachers, highlighting the government’s New Recovery Reform. He began by outlining the policies and measures undertaken by the government, as well as the current social and economic landscape in Mongolia. The Prime Minister emphasized the government’s efforts in addressing coal theft, trading coal on the stock exchange, combating corruption, and advancing digitization, all of which have yielded positive economic outcomes.

He noted that Mongolia’s GDP increased from 53.9 trillion MNT in 2022 to 68.9 trillion MNT in 2023, with export income rising from 12.5 billion USD to 15.2 billion USD in the same period. Additionally, foreign exchange reserves reached a historic high of 5 billion USD, and the government successfully paid off 13.3 trillion MNT in foreign loans.

Furthermore, Prime Minister L. Oyun-Erdene underscored the government’s commitment to enhancing the teacher training system as a pivotal aspect of education sector reforms. Starting this academic year, the government will fully cover tuition fees for students meeting specific criteria pursuing a bachelor’s degree in education to become teachers. Additionally, teachers meeting prescribed work and skill requirements and pursuing a master’s degree locally will have their tuition fees fully subsidized by the government. Children of teachers with over 15 years of experience studying in high-demand fields will also receive full tuition fee coverage from the government.

At the congress, Prime Minister L. Oyun-Erdene awarded scholarships to both teachers and students, recognizing their significant contributions to the education sector. He also highlighted the government’s achievements in expanding educational infrastructure nationwide since 2020, including the establishment of 197 new schools and 285 kindergartens, resulting in a 93 percent kindergarten enrollment rate.

Mongolia’s Prime Minister, L. Oyun-Erdene, submitted the Sovereign Wealth Fund bill to Parliament Speaker G. Zandanshatar on April 3.

Prime Minister L. Oyun-Erdene underscored that “the bill on the Sovereign Wealth Fund has been crafted in consultation with the political parties represented in Parliament.”

The main goal of this legislation is to guarantee that all Mongolian citizens, including both current and future generations, receive the benefits from the revenues generated by the country’s subsoil resources, ultimately strengthening the state budget.

Additionally, the bill seeks to outline the processes for identifying the origins, categories, and objectives of the wealth fund, setting up the organizational framework for overseeing the fund’s assets, and implementing systems for reporting and supervising its operations.