On January 18, 2021, to honor the occasion of the 30th anniversary of the establishment of Mongolian capital market and Mongolian Stock Exchange, Mr.Khurelsukh, Prime Minister, Mr.Khurelbaatar, Minister for Finance, Mr. Tsogtbaatar, Member of Parliament and President of Mongolian Association of Securities Dealers and Mr.Bayarsaikhan, Chairman of Financial Regulatory Commission visited the Mongolian Stock Exchange and opened the securities trading of MSE by ringing the bell.

During the opening ceremony, Prime Minister highlighted that “In last 30 years, Mongolian Stock Exchange and capital market has been constantly developing, with new financial instruments, regular operation, active trading, improved legal environment, and improved exchange operation and infrastructure and technology in line with international standards. It is great to note that market activity has been growing, investors are increasingly participate in trading online, dual-listing has been introduced and domestic companies continue to become public by issuing IPOs. 

Despite the challenges of the Covid-19 epidemic around the world, the role of capital market is crucial to recovery of the economy, the long-term sustainability of multi-pillar infrastructure and sustainable and inclusive economic growth. In particular, now it is of importance to enable trading of 1,072 shares of “Erdenes Tavan Tolgoi” JSC on our stock market, implement open and transparent privatization policy while assuring fair distribution of wealth, and commercialize large scale mineral strategic deposits through stock market, improve governance of state owned enterprise in line with international standards, and carry out pension reform and lay the legal foundation for effective management of contribution for pension fund on the stock market”.

Mr.Khurelbaatar, Minister for Finance, noted that “Our capital market is developing rapidly. As much as improvement of the legal environment and increase of securities issuers for capital, so does the role and participation of capital market get more effective to economy. In the future, we need to accelerate the introduction of technology advances for further development of capital market”. Mr.Tsogtbaatar mentioned that “Capital market plays an important role in future development of Mongolia; therefore, it needs support from government to develop”.

During the event, Mr.Bayarsaikhan said “FRC, Ministry of Finance, professional associations and infrastructure organizations have been working together and done a lot to develop the capital market. We introduced new products like mutual fund, assets backed securities into market”.

MONGOLIAN STOCK EXCHANGE