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Good Morning! For the first time, Mongolian politics kicks off Monday without a Prime Minister and Parliament Speaker. If the current political scene were a song, it would be Queen’s “Bohemian Rhapsody”, dramatic, unpredictable, and full of sudden twists, crescendos, and uncertainty. 🫢

What’s inside today’s edition

• 🇲🇳🤝🇰🇿 Mongolia-Kazakhstan Pension Cooperation

• 🇪🇺🌏 New Era in EU-Mongolia Partnership

• 📚✊ No Raise, No Work! Teachers Go on Strike

No Time to Waste. Let’s Get Started! 🦘

MARKET

KZ: The Cabinet has approved a draft law to ratify a pension cooperation agreement with Kazakhstan, aiming to strengthen social protection for the more than 8,000 Mongolians living and working there. 

MMC: Mongolian Mining Corporation (0975.HK) sold 2.3 million tonnes of washed coking coal in Q3 2025, up 13% year-on-year, while launching commercial gold production at the Bayan Khundii mine, which sold 342 ounces of gold during the quarter. The mine is expected to reach full capacity in Q4, producing up to 85,000 ounces of gold annually.

MNG: Moody’s upgrades Mongolia’s rating from B2 to B1 with a stable outlook.

🙌 A New Era in EU–Mongolia Partnership

The inaugural EU–Mongolia Business and Investment Forum successfully concluded in Ulaanbaatar last week, marking a historic milestone in deepening economic cooperation between the 2 sides.

• Bringing together over 700 delegates, including Mongolia’s former Prime Minister, senior EU officials, more than 70 European companies, and 200 Mongolian businesses, the 2-day forum served as a powerful platform to strengthen trade, investment, and sustainable development partnerships across key industries.

🌍 Strengthening Economic and Sustainable Ties

Under the Global Gateway initiative, the European Union is expanding collaboration with Mongolia to foster sustainable, inclusive infrastructure and green energy. The forum featured sector-focused discussions on renewable energy, textiles and apparel, mining and rare earths, agriculture, forestry, and consumer goods, while business matchmaking sessions helped forge new partnerships and identify tangible investment opportunities.

💶 A €1 Billion Commitment to Mongolia’s Green Transition

A major highlight was the signing of a Memorandum of Understanding between the European Investment Bank and the Government of Mongolia, providing up to €1 billion in financing to accelerate Mongolia’s green transition. The funding will support projects in renewable energy, modern power grids, and environmentally friendly transport systems.

🧐 EBRD’s Long-Standing Commitment

Furthermore, as an active investor in Mongolia, the EBRD’s new head highlighted that this partnership reinforces the bank’s long-standing commitment to supporting the country’s sustainable development. The EBRD is focusing on modernizing Mongolia’s transmission infrastructure, including the EU-funded Choir–Sainshand project, with the next phase already in preparation, advancing the nation’s shift toward cleaner, more resilient energy systems.

Lastly… The forum underscored the vast potential of EU-Mongolia cooperation. From renewable energy to rare earth elements, both sides are building a foundation of trust and innovation, advancing shared goals for a sustainable and prosperous future.

⭐ Selected for you

ECONOMY & BUSINESS

• Troy Minerals Inches Closer to Mine Permit at Silica Project in Mongolia. (InvestingNews)

• US Judge to Approve Rio Tinto’s Mongolia Mine Settlement. (MiningTechnology) 

• Mongolia to Build Its First Waste-to-Energy Power Plant. (KazInform)

• China Expands Air Links with Belarus, Mongolia, Russia, and Malaysia. (TTW)

POLITICS

• With the Presidential Visit, Mongolia and India Envisage Stronger Economic Links. (TheDiplomat) 

• Prime Minister and Parliament Speaker Resign Together. (InsideMongolia)

CULTURE & LIFESTYLE

• Mongolia to Join International Snow Leopard Trust. (Montsame)

• Under Shared Blue Skies: Mongolia and the North American West Conference. (MongoliaCenter)

‼️ No Raise, No Work!

Amid Mongolia’s heated political turmoil, the long-standing issue of teachers’ and doctors’ salaries remains unresolved, simmering beneath the surface.

• In September, the Mongolian Teachers’ Union demanded that teachers’ monthly salaries be raised to ₮3.5 million, organizing protests and launching a nationwide strike starting today.

📌 Unexpected Move

On Monday evening, the Prime Minister announced a principled decision to increase salaries, teachers’ pay by 15%–20%, doctors’ by 10%–15%, and pensions by 8%, by cutting non-essential government expenditures.

• 🧐 Behind the Decision: According to the latest Cabinet meeting, the government will allocate ₮831 billion to finance these raises by reducing public spending by 10%, excluding child benefits and debt repayments. The cuts will affect all state operations, programs, and projects.

• 🔺 Will Inflation Rise? The Finance Minister noted that without expenditure cuts, wage and pension increases could raise inflation by 1.5%–2%. However, with offsetting budget reductions, the government expects no major inflationary impact.

🔻 A Persistent Wage Gap

A decade ago, in 2015, the average salary in the education sector was ₮732,200, or 14% lower than the national average. By the third quarter of 2023, this gap had widened to ₮543,900, meaning teachers now earn 27.1% less than the national average.

In the end… At the root of nearly every national issue lies education. Despite repeated reforms, Mongolia’s education system continues to struggle with quality and accessibility. While the government has launched initiatives such as a national e-school program, what’s needed now is not another temporary fix, but a fundamental solution that addresses the problem at its core.

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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.