Economy
Banks Lifted Their Limitations on USD Transactions
Commercial banks have set a daily limitation on USD transactions since May and restricted some long-term loans. Thereby, banks started lifting their daily limit on USD.
7 hours
Number of Passenger Flights and Visas to be Increased
The government has announced 2023-2025 as “The Years to Visit Mongolia.” Within the framework of this context, the revised draft Law on Tourism included no restrictions on passenger flights to Mongolia following 3 years.
10 hours
Mongolia pays off USD 1.5 billion Chinggis Bond
Ulaanbaatar /MONTSAME/. Today, on 6 December 2022, the Prime Minister of Mongolia, L. Oyun-Erdene announced that the Mongolian government has repaid in full its inaugural USD 1.5 billion Chinggis bond in a bid to manage its debt profile.
10 hours
Central bank purchases 2.4 tons of precious metal in November
In November, the gold purchase of the Bank of Mongolia (BoM) was 2,667.0 kg, raising the BoM’s total precious metal purchase of 2022 to 19.9 tons.
4 days
Guarantee Insurance, Responsibility in the Economy and Methods of Implementation Training Meeting Held
On 29 Nov, the Financial Regulatory Commission of Mongolia (FRC), together with the National Reinsurance JSC and the Seoul Guarantee Insurance Company, organized a training meeting on "Guarantee Insurance, its role in the economy and methods of implementation" in order to expand the insurance market and develop insurance guarantees, which is a big impetus to the economic development. Mr. G.Temulen (Member of Parliament and Chairman of the Parliamentary Standing Committee on Budgets), the Financial Regulatory Commission, Ministry of Finance, Central Bank of Mongolia, Credit Guarantee Fund, Deposit Insurance Corporation of Mongolia, Mongolian Insurance Association, National Reinsurance JSC and other representatives of insurance companies attended the training meeting.
5 days
President U. Khurelsukh Receives Mongolia-Japan Economic Committee Members
Within the framework of his state visit to Japan, President of Mongolia U. Khurelsukh today received the members of the Mongolia-Japan Economic Committee headed by Tsubai Hiroyuki.
7 days
Tapan Mishra: Global crises affecting Mongolian society and the economy as a whole
The United Nations Resident Coordinator Office, the United Nations Development Programme, and the Ministry of Economy and Development of Mongolia jointly organized the “Socio-Economic Impact of Global Crises in Mongolia” seminar and workshop at Novotel Hotel on 21 November 2022.
14 days
Mongolia`s GDP expands by 3.7% in first 3 quarters
Ulaanbaatar /MONTSAME/. By production approach, Mongolia`s Gross Domestic Product (GDP) totaled MNT 35.2 trillion (over 10.3 billion U.S. dollars) in January- September period, which increased by MNT 5.3 trillion (17.7%) from the same period of the previous year. 
15 days
“The first state budget to be implemented in a year of austerity”
Last week, on November 11, the State Great Hural approved the 2023 State Budget of Mongolia. At a time when the whole world is trying to strengthen its economy by switching to austerity mode, how Mongolia budgeted its budget is drawing people's attention. The current budget is unique in that it was approved at a time of uncertain risks, from the need to keep the inflation rate at a single digit in the next year to the impact of geopolitical and war issues.
20 days
Fintech lending debt-to-income ratio regulated to be 70 percent
Technology-based loaning or Fintech lending rose 40 percent, and fintech borrowers accounted for 88.8 percent of the 1.6 million Non-bank Financial Intuitions (NBFI) borrowers.
22 days
FRC delegation participate in IAIS annual conference
A delegation led by Vice-Chairman of the Financial Regulatory Commission of Mongolia N. Khuderchuluun attended the International Association of Insurance Supervisors (IAIS) Annual Conference, held in Santiago, Chile.
22 days
Parliament approves 2023 State Budget
The State Great Hural of Mongolia has approved the 2023 State Budget.
22 days
"Golomt Bank" LLC has registered shares to be issued as public offer
A total of 31 issues were discussed at the 20th regular meeting of the FRC (9 November 2022), and decided to register the ordinary shares of "Golomt Bank" LLC in the register of securities approved for public offering.
26 days
Commemorative coins released for the 50th anniversary of diplomatic relations with Japan and Australia
The Bank of Mongolia has issued commemorative coins for the 50th anniversary of the establishment of diplomatic relations between Mongolia and Japan, and Mongolia and Australia.
27 days
“Erdenes Tavantolgoi” company to not agree on upfront payment terms
During its regular meeting dated October 26, the Cabinet made a decision to impose an emergency regime for “Erdenes Tavantolgoi” state-owned enterprise for six months, assigning State Secretary of the Ministry of Finance J. Ganbat as the Government’s Special Representative to take relevant measures to improve the company’s operations and management and increase the revenue.
27 days
Mining Minister becomes acquainted with operations of Yancoal mining company
Representatives of the Ministry of Mining and Heavy Industry visited Mount Thorley Warkworth coal mine of Yancoal mining company, which operates in the Hunter Valley of New South Wales, Australia, on 04 November 2022.
29 days
Mining minister J. Ganbaatar met with Minister for Resources of Australia
Minister of Mining and Heavy Industry of Mongolia J. Ganbaatar, who is participating in the “International Mining and Resources Conference (IMARC) 2022", met with Madeleine King, Minister for Mineral Resources and Minister for Northern Australia.
32 days
Possibilities of attracting investment in geological exploration discussed
J. Ganbaatar, Minister of Mining and Heavy Industry, met with Demus King, General Manager of Trade, Investment, and Investor Relations of the Minerals Council of Australia.
32 days
Mining Minister delivers speech at IMARC Mines & Money Conference
During his working visit to Sydney, Australia, Minister of Mining and Heavy Industry of Mongolia J. Ganbaatar delivered a speech on "Resources and Opportunities of Mongolia's Mineral Resources Industry" at the IMARC Mines & Money Conference.
32 days
Mining Minister participating in IMARC 2022
Minister of Mining and Heavy Industry of Mongolia J. Ganbaatar is participating in the “International Mining and Resources Conference (IMARC) 2022. On the sidelines of his participation in the event, the Minister met with Mr. Bandar bin Ibrahim Alkhorayev, Saudi Arabia`s Minister of Industry and Mineral Resources, and Shri Vivek Bharadwaj, State Secretary of the Indian Ministry of Mines.
33 days
Banks Lifted Their Limitations on USD Transactions 7 hours
Mongolian Athletes Won Gold, Silver, and Bronze Medals at the Asian Classic Powerlifting Championship 9 hours
Mongolian Ambassador to the Philippines Presents His Credentials 9 hours
O. Batsaikhan: More than 30,000 people were executed, but the number of the repressed probably exceeded 100,000 9 hours
Number of Passenger Flights and Visas to be Increased 10 hours
Mongolia pays off USD 1.5 billion Chinggis Bond 10 hours
Public Demonstration Considered Under Control 22 hours
MoA Signed with UNOCT on Deployment of 'goTravel' Software 1 day
State Secretary Participates in 29th OSCE Ministerial Council Meeting 1 day
Tourism Development Plan Created for Khankh Soum 4 days
Central bank purchases 2.4 tons of precious metal in November 4 days
Mongolia Opens Third Rail Line to China 5 days
Mongolia’s Efforts Toward Ensuring Implementation of BWC Presented 5 days
"Road to ONE - Mongolia 2022" Successfully Organized at Steppe Arena 5 days
Guarantee Insurance, Responsibility in the Economy and Methods of Implementation Training Meeting Held 5 days
Morin Khuur Ensemble of Mongolia Performed for Their Majesties the Emperor and Empress of Japan 6 days
President of Mongolia Receives Speaker of Japanese House of Representatives 6 days
State Orders and Medals Conferred on the Occasion of Mongolia-Japan Diplomatic Anniversary 6 days
Mongolia and Japan Declare "Special Strategic Partnership for Peace and Prosperity" 7 days
Willingness Expressed to Boost Trade and Investment Cooperation with U.S. 7 days
Cooperation Documents Signed Between Mongolia and China 7 days
President U. Khurelsukh Receives Mongolia-Japan Economic Committee Members 7 days
Mongolian athlete wins at World Cup WPC/AWPC Strict Curl 2022 7 days
Revised Draft of Law on Tourism Submitted 7 days
President of Mongolia Paying State Visit to Japan 8 days
China’s top legislator pays courtesy call on Mongolian President 8 days
Presidents of Mongolia and China hold official talks 8 days
Miss Mongolia S. Nandin wins Silver medal at Miss Earth 2022 Talent Competition 8 days
Chinese Premier pays courtesy call on Mongolian President 8 days
Mongolian President’s State Visit to China Starts 9 days
Mongolian Ambassador Meets Vice Foreign Minister of China 11 days
The HU named UNESCO Artist for Peace 11 days
Citizens on the Anniversary of the Birth of Chinggis Khaan 12 days
D.Dorjgotov: Basic geographic research is the assurance of the nation's independence and the very being 12 days
Studies on the legacy of Chinggis Khaan in the world history 12 days
President U.Khurelsukh: Mongolia should lead the world in Chinggis Khaan studies 12 days
Jack Weatherford: This is the century that Mongolia can help the world move closer to the dream of Chinggis Khaan 12 days
President U.Khurelsukh: Chinggis Khaan is a symbol of unity and an assurance of Mongolia’s sovereignty 12 days
Bringing the arts to you! ACM Membership Campaign 2022-2023 12 days
The Order of Chinggis Khaan conferred upon D. Dorjgotov and Jack Weatherford 12 days
Today is the 860th birth anniversary of Chinggis Khaan 13 days
Ambassador to Portugal presents her credentials 13 days
Tapan Mishra: Global crises affecting Mongolian society and the economy as a whole 14 days
State Great Hural Chairman receives Director General of ADB’s East Asia Department 14 days
Mongolian President to pay state visit to China 14 days
E. Sodontogos appointed as Director-General of MONTSAME News Agency 14 days
Winter tourism through hot springs 14 days
Sh. Chanrav claims bronze medal at World Open Men`s Equipped Championships 2022 15 days
Mongolia focuses on multisectoral participation in comprehensive health care services for the elderly 15 days
Wheelchairs provided to 47 health organizations 15 days
Mongolia`s GDP expands by 3.7% in first 3 quarters 15 days
The first ballet competition “Mongolian Grand Prix” selected the leading ballet dancers and team 18 days
Digital archiving emphasized at "New Revival - Digital Archive" conference 18 days
Speakers of Mongolia and Lao PDR meet virtually 18 days
U.S. Ambassador presents his credentials 19 days
Canada’s leading experience to be introduced in the field of environment 20 days
Ambassador-designate to Kuwait presents his credentials 20 days
Exhibition displaying rock art in Mongolia opens 20 days
Ministry of Environment of South Korea to cooperate in water sector 20 days
“The first state budget to be implemented in a year of austerity” 20 days
Mongolia-Czech cooperation in education to be intensified 21 days
Supporting cheap passenger and cargo transportation in various routes 21 days
Vietnamese citizens to become able to apply for visas online starting from December 21 days
Youth athletes won 2 gold and 4 silver medals at the World Championship 22 days
Fintech lending debt-to-income ratio regulated to be 70 percent 22 days
Mongolian boxers win 2 silver and 8 bronze medals from “Amman-2022” 22 days
FRC delegation participate in IAIS annual conference 22 days
Parliament approves 2023 State Budget 22 days
Borjigon horse-head fiddle placed in Theater Museum of Mongolia 22 days
"Visit Mongolia" application and www.mongoliatravel.guide website launched 22 days
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