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Happy Monday! On November 7, AppleTV premiered Pluribus, featuring a Mongolian father-daughter duo, definitely a highlight worth noticing! Directed by Vince Gilligan, the mastermind behind Breaking Bad and Better Call Saul, this series is a must-watch. Perfect if you’re looking for something new to dive into! 🎬👏

What’s inside today’s edition…

• 🏙️ UB City Eyes New Bonds 

• 📈 Mongolia’s Bold 5-Year Plan 

• 💹 Insurers’ Q3 Jump in Profits

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

MARKET

GOV: Mongolian parliament has approved the 2026 state budget, which projects a deficit of ₮1 trillion.

EBRD: The European Bank for Reconstruction and Development has provided a loan of up to $20 million to Khan Bank for on-lending to micro, small, and medium-sized enterprises in the agricultural sector.

UB: Ulaanbaatar city plans to issue an additional ₮275 billion domestic bond next year. 

MNG: The Mongolian government has proposed appointing a Mongolian executive as CEO of Oyu Tolgoi LLC.

 🔜 Mongolia’s Roadmap for the Next 5 Years

The Mongolian Parliament has begun discussions on a draft resolution to adopt the country’s 5-year development framework for 2026–2030.

🛣️ Development Directions

The Government’s 5-year plan outlines 8 strategic policy directions designed to diversify the economy, enhance resilience, and improve citizens’ quality of life. These priorities aim to achieve 10 key national outcomes within 5 years, including raising the Human Development Index to 0.813, expanding the middle class by 20%, increasing pensions by 8.6%, raising wages to 45.9%–50.5% of GDP wage share, and placing Mongolia among the top 90 countries in governance rankings.

Let’s unpack the goals that drive progress in each of the plan’s priority areas.

• In human development, the quality of education and healthcare will improve, raising the Human Development Index from 0.756 in 2024 to 0.813 by 2030. 

• The middle class is set to expand by 20%, average wages will increase from ₮9,200 per hour to ₮17,400, and unemployment is targeted to fall from 5.9% to 4.5%. 

• The National Wealth Fund is projected to grow from ₮4.48 trillion to ₮21.6 trillion, while tax reforms aim to reduce the effective tax rate for citizens and businesses. 

• Governance reforms will reduce corruption, strengthen transparency, and improve Mongolia’s global governance ranking from 114 to 90.

💸 Investment Roadmap

Furthermore, the Government has submitted a draft Investment Program to Parliament, including major projects with budgets exceeding ₮30 billion. In total, 87 projects are planned with a combined cost of ₮66.6 trillion. Of these, 39 projects will be financed from the state budget, 25 through foreign loans and aid, 14 via direct investment, and 8 through public-private partnerships.

• 🍰 Among Mongolia’s planned investments over the next 5 years, the largest share goes to manufacturing and infrastructure at ₮18.7 trillion, followed by energy with ₮15.9 trillion, regional development at ₮13.6 trillion, education, health, science, and culture with ₮4.6 trillion, and government capacity, disaster management, and national security at ₮1.9 trillion.

Finally… The draft 5-year development and investment plans now await parliamentary review and approval. Over the coming months, lawmakers will debate, amend, and finalize the proposals before implementation begins, setting the course for Mongolia’s economic and social development through 2030.

⭐ Selected for you

ECONOMY & BUSINESS

• Business Council of Mongolia and COP17 Secretariat Sign MoU to Advance 2026 UNCCD Presidency Preparations. (BCM)

• Construction Output Reaches ₮8.8 Trillion in First Nine Months of 2025. (Montsame)

• Mars-V Camp to Simulate Life on the Red Planet in Mongolia by 2029. (Kurziv)

• Government to Privatise 10%-51% of MIAT. (MNB)

• Arig Bank LLC Assigned 'B-/B' Ratings; Outlook Stable. (S&PGlobal)

POLITICS

• Former Rio boss Jacques Called to Give Evidence to Mongolian Inquiry. (AFR)

• Health Workers’ Pay to Rise 75% in Staged Increases Next Year. (ANN)

• China, Russia, Mongolia Sign Tea Road Tourism Plan. (XinhuaNews)

• Mongolian Customs Has Deployed New Screening Equipment, Including Rapid Detectors for Narcotics and Hazardous Chemicals, and Advanced 2D X-Ray Scanners. (MongolianCustoms)

CULTURE & LIFESTYLE

• China’s Messy History With Mongolia. (ForeignPolicy)

• Explorer.Company Launches Curated Winter Tour to the Reindeer Herds of Northern Mongolia. (EinPressWire)

• This Large Asian Country has More Horses Than People. (Telegrafi)

🪬 MSE Insurers’ Q3 Results in Focus

Mongolia’s insurance sector is on a strong recovery path, with profits surging and premiums climbing. The latest results from five publicly listed insurers on the Mongolian Stock Exchange (MSE) provide a clear snapshot of the industry’s performance.

💰 Net profit surges 140.7%

In the third quarter of 2025, the net profit of the five listed insurance JSCs jumped 140.7% to ₮22.4 billion. Mandal Insurance (MNDL) led the pack with a net profit of ₮8.1 billion, while Ard Insurance (AIC) posted the largest growth, with net profit increasing 5.7 times to ₮4.3 billion.

• 💔 Among Us: Among the 5, Mongol Insurance (MDIC) was the only company in the red, reporting a loss of ₮544.3 million. Still, this marks a ₮3.5 billion improvement compared to the same period in 2024.

• 📈 Premium income on the rise: Total premium income climbed 9% year-on-year, reaching ₮236.1 billion. $MNDL, Bodi Insurance (BODI), and Tenger Insurance (TGI) all recorded increases in premium revenue over the same period.

• 📐 Claims remain steady: Insurance claims totaled ₮54.4 billion, up 2.7% from a year ago. Notably, $MDIC posted the largest reduction in claims, down 38.3% to ₮6.5 billion compared to Q3 2024.

📉 Market Capitalization Dips

Despite strong profitability, the sector’s market capitalization fell ₮44.9 billion from last year, settling at ₮248.1 billion. $MDIC remains the leader in market value, but its share price has dropped 21.6% year-on-year and 6.1% since the start of 2025.

Finally… The third-quarter financial metrics of the 5 publicly listed insurers were largely aligned with expectations. All eyes now turn to the full-year 2025 report to see if the sector can maintain its momentum.

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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.