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.
Trading of “InvesCore NBFI” JSC’S Public Offering Bonds Starts in the Primary Market
The bell ceremony to launch trading of “InvesCore NBFI” JSC’s public offering bonds in the primary market was held on December 12, 2022. The Vice-Chairman of the Financial Regulatory Commission (FRC) T. Tserenbadral, NBFI Department Director of FRC B. Itgelsuren, Regulatory Department Director of the Mongolian Stock Exchange A. Munkhbayasgalan and Business Operations Assistant Director of the InvesCore NBFI N. Arslanbaatar attended the ceremony.
Transport Connectivity and Logistics Center is to be Built with World Bank
Mongolia Transport Connectivity and Logistics Improvement Project will be implemented in our country with a World Bank loan.
Permission Issued for Public Stock Trading of Exchange Shares
A regular meeting of the Financial Regulatory Commission (FRC) was held on 14 December 2022. At the meeting, it was decided to register - additional securities issued by the Mongolian Stock Exchange (MSE) within the register of securities approved for public offering.
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.