Spring sowing increased by 15-20 percent
This year, spring sowing has started on May 9 and has been made to 490.2 thousand hectares of areas, including 375.1 thousand hectares for grains of which 358.3 thousand hectares for wheat, 17.4 thousand hectares for potatoes, 8.5 thousand hectares for vegetables, 56.1 thousand hectares for oil plants, 28.8 thousand hectares for fodder plants and 3.5 thousand hectares for fruits and berries.
Western region wool processing plant to be built in Zavkhan aimag
The Western region wool processing plant will be established in Aldarkhaan soum of Zavkhan aimag with MNT 20.1 billion financing.
$20 Million Credit to Support Employment Opportunities, Workers, and Employers in the Wake of COVID-19
On June 19, The World Bank’s Board of Executive Directors approved a US$20 million IDA credit for the Mongolia Emergency Support and Employment Support Project.
Mongolian organic honey to become a new export product
Minister of Food, Agriculture and Light Industry Ch.Ulaan became familiarized with bee farming in Batsumber soum of Tuv aimag.
AIIB approves first loan to Mongolia in support of COVID-19 response
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a loan of USD100 million to Mongolia to support its COVID-19 Rapid Response Program, which aims to mitigate the adverse health, social and economic impacts caused by the pandemic and to alleviate poverty. This is AIIB’s first project financing in the country.
Mongolia extracted 839.7 thousand barrels of oil
As of June 10, Mongolia extracted 839.7 thousand barrels of oil and exported 740.2 thousand barrels, the Ministry of Mining and Heavy Industry reports.
ADB to support Economic Cooperation Zone for Mongolia
The Asian Development Bank (ADB) has approved a $30 million loan to develop and operationalize Mongolia’s Zamyn-Uud free zone, which is part of a proposed economic cooperation zone between the country and the People’s Republic of China (PRC).
Import of automobiles decreases by 30.1 percent
The imports of automobiles decreased by 30.1 percent in the first five months of 2020, reports in the statistics of the Customs General Administration of Mongolia.
Over 400-700 heavy trucks transporting coal through Gashuunsukhait border point daily
Officials of the border crossings reported that coal export is reviving gradually.
Animal health care service to be improved in gobi region
On June 16, GAVS Director General D.Tumendemberel and Oyu Tolgoi Operations Director Tim Eckersley signed an agreement to cooperate in stabilizing the operation of the Inter-Soum Animal Health Care Center and improving livestock health and animal health care services.
Mongolia ranked 61st out of 63 countries in World Competitiveness Ranking
The Swiss-based IMD World Competitiveness Center has released “World Competitiveness Annual Report 2020.”
World Bank Group supports Mongolia’s efforts to improve investment climate, inspire investor confidence
IFC, a member of the World Bank Group, and the National Development Agency (NDA) are launching an institutional platform to help the government resolve investor grievances efficiently and transparently, thereby improving investor confidence in Mongolia.
Top 10 enterprises sign declaration for development of Mongolia
Last week, the Mongolian National Chamber of Commerce and Industry (MNCCI) and Erdenet State Owned Enterprise organized a cooperation meeting of TOP 10 Enterprises in Erdenet city. The event was organized by Erdenet state-owned enterprise, which has been named as a TOP-100 enterprise for the 15th year.
Primary market trading order of "Lend Bond” launches
In regard with opening of primary market trading order of “Lend Bond” being offered by “Lend MN” non-bank financial institute (NBFI) JSC listed on the Mongolian Stock Exchange (MSE), a bell ringing ceremony took place today, June 15.
Deputy Prime Minister visits Oyu Tolgoi
Ulaanbaatar /MONTSAME/. On June 14, Deputy Prime Minister U.Enkhtuvshin got acquainted with the Oyu Tolgoi project along with representatives of the Ministry of Road and Transport Development and the Ministry of Mining and Heavy Industry.
Total equilibrated balance shows a deficit of MNT1.6 trillion
According to the preliminary results in the first five months of 2020, the total revenue of the general government budget amounted to MNT 3.6 trillion, MNT 3.3 trillion of which accounted for equilibrated revenue. Total equilibrated revenue was 93.8% of the general government budget revenue.
Industrial production in statistics
According to the preliminary results, the gross industrial output reached MNT 5.1 trillion in the first 5 months of 2020, showing a decrease of MNT 1.9 trillion (27.3%) from the same period of previous year.
Mongolia Livestock Commercialization Project kicks off
On June 12, Government of Mongolia, with support from the World Bank, kicked off the Livestock Commercialization project to improve the health and productivity of livestock and increase value of products by commercializing targeted value chains.
Non-performing loans in banking system amounted to MNT 1.9 trillion
At the end of May 2020, the total amount of outstanding loan to entities and individuals amounted to MNT 17.2 trillion, increased by MNT 16.6 billion (0.1%) from the previous month, but decreased by MNT 795.6 billion (4.4%) compared to the same period of the previous year. Of the total outstanding loans, 51.2 percent or MNT 8.8 trillion were individual loans.
Banks defer repayments on MNT 500 billion of mortgage loans
With a view to alleviate financial challenges posed by COVID-19 pandemic on business entities and individuals, the government of Mongolia together with the Bank of Mongolia and commercial banks has approved decisions to make 6-month deferrals on consumer and business loan repayment and their interests for 90 days, and to extend the repayment of mortgage loans by six months.
G.Tumurchuluun: I found out from my students that my book was being sold at Cuban bookstores