Diesel fuel being imported from Russia and China
Ulaanbaatar Railways JSC is taking urgent measures to improve the distribution and meet the domestic demand for diesel fuel.
Conditions Created to Use National MNT Cards in South Korea
A signing ceremony for a Memorandum of Understanding on cooperation between the Bank of Mongolia and the “KT Group” of the Republic of Korea was held on December 13.
International Scientific Conference Organized on 35 years of Mongolia-United States Cooperation
On the occasion of the 35th anniversary of the establishment of diplomatic relations between Mongolia and the United States and at the initiative of the Bank of Mongolia, an academic conference “35 Years of Mongolia-United States Cooperation” was held on December 12, 2022. The conference was supported by the Ministry of Foreign Affairs of Mongolia, the Ministry of Economy and Development, the Embassy of the United States of America in Ulaanbaatar, the Mongolian National Chamber of Commerce and Industry, and the AmCham Mongolia.
Erdeneburen HPP Project to be Intensified
The Minister of Energy, Choijilsuren Battogtokh, led the working team in the western region’s Khovd, Uvs, and Bayan-Ulgii aimags.
Meeting with the International Finance Corporation’s Delegations Held
The Chairman of the Financial Regulatory Commission of Mongolia, Bayarsaikhan Dembereldash, received the Country Manager for China, Korea, and Mongolia, International Finance Corporation Randall Riopelle, and the Resident Representative for Mongolia of International Finance Corporation, Rufat Alimardanov.
Loan Worth MNT 55 Billion to be Issued to Support Tourism
The government will allow MNT 55 billion in loans to tourism operators, subsidizing an annual interest rate of 7 percent. Regarding the announcement by the government of the next three years as “The Years to Visit Mongolia,” the industry is being given special consideration by arranging concessional loans to offer for preparations.
Permission to Register “KHAN BANK” IPO Granted
The 23rd regular meeting of the Financial Regulation Commission (FRC) was held on 09 December 2022.
Ulaanbaatar Railway Run its First Export Freight Train
The freight train starts transporting export goods and products to China on December 9. The train which brought import goods departed to deliver export goods to China.
Interest Expressed in Exporting Meat, Hide, and Pine Nuts to Malaysia
The Mongolia-Malaysia Business Meeting was held in Kuala Lumpur on December 7. The leadership of the Mongolian National Chamber of Commerce and Industry (MNCCI), entrepreneurs, and representatives of 15 companies from Mongolia in the foreign trade, food, packaging, construction, and clothing industry participated in the meeting.
“Erdenes Tavantolgoi” JSC Exports 108.1 Thousand Tons of Coal
According to “Erdenes Tavantolgoi” JSC, 108,123 tons of coal were transported from the company’s deposit by 1052 vehicles between 00:00 and 24:00 on December 7. This is the highest performance of coal shipment in one day since the company was established.
Public Hearing on Coal Theft Allegations to be Organized
The Standing Committee on Economy of the State Great Khural will organize a public hearing on the issues of coal shipment and export on December 21.
Russia offers to Cooperate in Tavantolgoi TPP Construction Project
The government action plan includes building new energy sources to meet the growing electricity demand. From this perspective, it was decided to make new energy sources available in three main scopes.
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.
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.
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.
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.
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.
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.
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.
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.