The signing of the MoU also represents the advancing bilateral cooperation between Indonesia and Mongolia in the economic and technological sectors, in line with the interest of the Indonesian Government’s aim for international relations. It was attended by distinguished dignitaries, including Retno Marsudi, Minister for Foreign Affairs of Indonesia, H.E. Djauhari Oratmangun, Indonesia’s Ambassador to the PRC and Mongolia, and Battsetseg Batmunkh, Minister of Foreign Affairs for Mongolia.

On the center of the partnership is the strategic focus on Foreign Direct Investment (FDI). Over the next five years, FDI will be implemented in several stages, marking a significant contribution to the Mongolian economy. The investment will support technological advancements, foster growth in the retail and trading sectors, drive economic prosperity, and create new employment opportunities.

"We are honored to join forces with MODENA in this transformative journey. This partnership not only enhances our market offerings but also contributes to the growth of the Mongolian economy. It exemplifies our commitment to excellence, innovation, and sustainable development," said Bayarsaikhan Shagdarusuren, Chairman of Nomin Holding.

Nomin is well-known for its strong presence in the Mongolian trading sector. The collaboration will give MODENA access to an established distribution network and valuable market knowledge in the region that may be unattainable by its own. The presence in the Mongolian market adds the already vast range of its customer base and solidifies their reputation as a market leader worldwide.

As one of the world’s leading brands, the products offered by MODENA are catered to improving daily lives, with a full line of home and professional, energy, mobility, technology, and health equipment.  Rooted on its pillar of commitment to innovation and excellence, MODENA consistently delivers cutting-edge products that meet the evolving demands of consumers.

According to Michael Jizhar, Executive Vice President of MODENA, this partnership "represents a critical step in our global expansion strategy. We are committed to providing consumers around the world with our innovative solutions. By leveraging Nomin's distribution capabilities and market knowledge, we aim to widen our market and offer our premium products to a wider audience."

The partnership can be seen as another milestone in the brand’s dedication to international growth, and offers an advantage against other European, Korean, and Chinese global giants. By enhancing the company's access to new markets and business opportunities, this cooperation enhances MODENA’s commitment to provide excellence on a worldwide scale, as well as ensures its ongoing dominance in the industry.

"We are pleased to announce MODENA’s establishment in Mongolia. The dynamic and demanding nature of the local market perfectly complements MODENA’s 60-year expertise in consumer electronics. This strategic collaboration will pave the way for pioneering advancements in home and lifestyle innovations, as we jointly lead the industry towards a brighter future," concluded Khongor Batbold, the CEO of Nomin Trading.