SME support project to be implemented in Khovd aimag
Development Solutions NGO will implement USAID’s Business Excellence for Sustainability and Transparency (BEST) project in Khovd aimag until 2024.
Mongolia imports 40,606 COVID-19 test kits
As of April 20, 2020, Mongolia imported goods worth USD 1.5 billion which decreased by 11.2 percent compared with the same period of the previous year.
Mongolia’s export declines by 39.3 percent
The Customs General Administration released the statistics on preliminary export performance.
Shareholders of Erdenes-Tavantolgoi convene virtually
On April 24, a meeting of the shareholders of Erdenes-Tavantolgoi JSC took place virtually amid the nationwide heightened state of readiness against Covid-19.
Foreign Minister works at Gashuunsukhait border checkpoint
Minister of Foreign Affairs D.Tsogtbaatar together with Ambassador of the People’s Republic of China to Mongolia Chai Wenrui checked the recently resumed coal transportation at Gashuunsikhait border checkpoint in Umnugobi aimag on April 24-25.
ADB accelerating renewable energy in Mongolia with advanced battery storage system
The Asian Development Bank (ADB) has approved a $100 million loan to help supply renewable energy to Mongolia by installing its first large-scale advanced battery energy storage system (BESS).
USD53 million financing agreement with World Bank signed
Today, the World Bank and Ministry of Finance of Mongolia signed USD53 million financing agreement for the Ulaanbaatar Heating Sector Improvement Project and Additional Financing of the Third Sustainable Livelihoods Project.
World Bank approves $53 million to improve heating services and support sustainable livelihoods in Mongolia
On April 24, The World Bank’s Board of Executive Directors approved US$53 million in financing for Ulaanbaatar Heating Sector Improvement Project and Additional Financing of the Third Sustainable Livelihoods Project.
Imports of automobiles decreased by 28.8 percent
As of April 21, Mongolia’s import has declined by 11.2 percent as compared with the same period of the previous year according to the customs statistics.
AND Global begins global strategic partnership with Marubeni Corporation
AND Global Pte. Ltd. (“AND Global”), a startup company with a proprietary, cutting-edge financial technology platform and Marubeni Corporation (“Marubeni”), a Japanese integrated trading and investment business conglomerate, have agreed to establish a global strategic partnership to help financial and non-financial institutions across the world in integrating Fintech solutions into their existing and new businesses.
Turquoise Hill announces first quarter 2020 production
On April 16, Turquoise Hill Resources Ltd announced first quarter 2020 production for Oyu Tolgoi and provided an update on underground development, COVID-19 and power.
99.99 percent of all tax-paying entities exempt from social insurance contribution
Ulaanbaatar /MONTSAME/. On April 17, Friday, the press office of the cabinet secretariat issued a press release on the government’s new regulations to implement the measures aimed at easing the economic impact of the COVID-19 pandemic, in which instituted a six-month exemption of monthly social insurance contributions paid by employees and employers, who retain their employees on payrolls despite revenue drops. It was reported that the decision applies to around 45,000 entities.
4,000 kg vegetable seeds to be given to crop farmers
Ulaanbaatar /MONTSAME/ On April 17, Minister of Food, Agriculture and Light Industry Ch.Ulaan and Representative of the Food and Agriculture Organization of the United Nations (UNFAO) in Mongolia Vinod Ahuja signed a USD 62 thousand technical assistance project document, which will be implemented within the UN efforts on reducing the impact of COVID-19 on food security and nutrition.
Mongolia-Singapore trade increases fivefold in last 4 years
The trade and economic relations between Mongolia and Singapore have been "modest" since the 1990's, but have sharply intensified in recent years. The trade turnover between the two countries in 2016 was USD 31.7 million which was the lowest amount in the last 10 years. In 2019, the trade reached USD 176.8 million, a 5.6-fold increase as compared with 2016.
Country has petroleum reserve for 37 days consumption
The Mineral Resources and Petroleum Authority gave a briefing yesterday, on April 15.
Special regime at EMC and Mongolrostsvetmet extended
On September 13, 2019, an emergency regime, set at Erdenet Mining Corporation and Mongolrostsvetmet LLC, by the Cabinet on March 6 of the same year, was extended by six months. At its regular meeting today, the Cabinet decided to further extend the emergency regime by another six months.
Individual loans make up 50.4 percent of total outstanding loans
At the end of March 2020, the total amount of outstanding loan to entities, enterprises and citizens amounted to MNT 17.1 trillion, decreased by MNT 200.9 billion (1.2%) from the previous month and by MNT 315.4 billion (1.8%) from the same period of the previous year. In the total outstanding loans, MNT 8.6 trillion (50.4%) was individual loans.
The number of traded securities decreased by 90.8 percent in March
In the first three months of 2020, securities worth of MNT 9.6 billion were traded at the national stock market, showing a decrease of MNT 58.0 billion (85.8%) compared to the same period of the previous year.
Time deposits in foreign currency increased by 27.2 percent
At the end of March 2020, the time deposit in domestic currency amounted to MNT 10.7 trillion, decreased by MNT 371.3 billion (3.4%) from the previous month, and by MNT 465.4 billion (4.2%) compared with the same period of the previous year.
Mongol Ecology Center: Children tend to care more about the nature and environment than adults
L.Khangai: It shouldn’t be assumed that the construction for the pipeline going through Mongolia will begin in just a few days