Total Foreign Trade Turnover Increased by USD 5.2 Billion
In 2022, Mongolia traded with 160 countries from all over the world, and the total trade turnover reached USD 21.2 billion, of which exports were USD 12.5 billion and imports were USD 8.7 billion.
MSE Starts Registration of Bidders for the Coal E-Auction
In relation to the “Rules on open trading of coal to be exported” adopted by the Resolution No. 466 of the Government of Mongolia on December 14, 2022, MSE has been working to create necessary frameworks for the implementation of the Rules.
Trial e-Auction of Coal Export Conducted Successfully
Mongolia will sell coal at border prices instead of mine-mouth prices through commodity exchange from February 1. Ensuring the preparation of transparent online trading, the parties involved in the coal trade, including those interested in selling and buying coal, participated in the trial e-auction of coal export.
The Snow and Reindeer Festival to be held on February 27-28
Khuvsgul /MONTSAME/. The Khuvsgul aimag declared this year a “Year to Visit Khuvsgul” in order to develop sustainable tourism based on natural, historical, and cultural heritage. In the framework of this initiative, 11 special events are going to be held to increase the number of domestic and foreign tourists who visit the aimag.
Interest Rates of Bonds Decreased from 11-12 percent to 8
At the Cabinet meeting held yesterday, Minister of Finance B. Javkhlan informed that a new five-year USD bond was successfully issued and traded to refinance the “Gerege” and “Khuraldai” bonds.
Frequency of Direct Flights between Mongolia and Vietnam to be Increased
Minister of Environment and Tourism B. Bat-Erdene received Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam Doan Khanh Tam.
Preparations Underway to Trade Coal Through Commodity Exchange
Starting from February 1, Mongolia will sell coal at border prices instead of mine-mouth prices through commodity exchange. Pertaining to the matter, we clarified from the Government’s Special Representative for the “Erdenes Tavantolgoi” (ETT) JSC.
Secondary Market Trading of Shares of Stock Exchange Commenced
“Mongolian Stock Exchange” JSC commenced secondary market trading of shares with the alphabet code of “MSE” yesterday.
Central Bank Purchases 22.9 Tons of Precious Metal in 2022
The Bank of Mongolia purchased 22.9 tons of precious metal last year.
IPO of Mongolian Stock Exchange Oversubscribed by 4.8 Times
The "Mongolian Stock Exchange" (MSE) started its primary market trading on December 26 by offering 34 percent of its total of 119,157,598 shares to the public.
National Minimum Wage Rises to MNT 550 Thousand
The decision of the National Tripartite Committee on Labor and Social Partnership to increase the minimum wage came into effect yesterday.
Export Performance of Mineral Products Reaches 108 percent
Between December 24-30, 1.011.5 thousand tons of coal were exported by 7.776 trucks, and 1.646 wagons across the border, which is six times higher amount than the same period of 202
German Agency for International Cooperation Handed over a “PLAQUE OF RECOGNITION” to the FRC of Mongolia
The German Agency for International Cooperation (GIZ) handed over a Plaque of Recognition to the Financial Regulatory Commission (FRC) of Mongolia, for its invaluable support to the objectives of the program “Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia”.
Financial Regulatory Commission’s Performance in 2022
The Financial Regulatory Commission (FRC) of Mongolia conducted its annual meeting and assessed performance on December 27.
B. Bayardavaa: Increase In the Budget Expenditure Has a Risk of Weakening the Effect of Monetary Policy
Signing of an MoU with the Association of Real Estate Brokerage Institutions
The FRC signed a Memorandum of Understanding (MoU) with the Umbrella Association of Real Estate Entrepreneurs on 26 December 2022.
Bell-ringing Ceremony Held to Issue IPO of MSE
The bell-ringing ceremony to issue the IPO of the Mongolian Stock Exchange (MSE) state-owned company was held today, December 26, 2022. Minister of Finance B. Javkhlan rang the bell and Chairman of the Financial Regulatory Committee Mongolia D. Bayarsaikhan, Head of the Government Agency for Policy Coordination on State property B. Tsengel, CEO of the MSE Kh. Altai and other officials attended the ceremony.
Number of Enterprises Exporting Meat to Uzbekistan Increased
In the first 10 months of this year, Mongolia has exported 500 tons of meat and by-products to Uzbekistan. During his virtual meeting with the Minister of Agriculture of Uzbekistan Voitov Aziz Botirovich, the Minister of Food, Agriculture and Light Industry of Mongolia Kh. Bolorchuluun expressed that Mongolia has a breadth of opportunity to increase exports to Uzbekistan in the future.
Central Bank Raises Its Policy Rate
During its scheduled meetings on December 15-16, 2022, the Monetary Policy Committee of the Bank of Mongolia (MPC) decided to raise the policy rate by 1 percentage point to 13 percent by majority vote, taking into consideration the current state of the economy and financial markets as well as the outlook and risks to the domestic and external economic environment.