Prime Minister works in Selenge aimag to check on crop harvesting works
Selenge /MONTSAME/. Last weekend, Prime Minster of Mongolia U.Khurelsukh worked in Selenge aimag, a region of agricultural breadbasket. During his working trip, the head of the government got acquainted with the harvesting of the ‘Agro Shim’ LLC in Orkhontuul soum and the field of B.Khadbaatar, the leading farmer of Orkhon soum and irrigation system of ‘Norbu Agko’ LLC in Baruuburen soum.
Financing agreement of USD 100 million signed
Minister of Finance Ch.Khurelbaatar and World Bank’s Country Manager for Mongolia Andrei Mikhnev today signed a financing agreement of USD 100 million for the second Economic Management Support Operation (EMSO 2).
Mongolia joins International Forum of Sovereign Wealth Funds as associate member
Ulaanbaatar /MONTSAME/. On September 12, the 11th annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF) was hosted in Juneau, Alaska by Alaska Permanent Fund Corporation (APFC). The IFSWF annual meeting brings together members and financial leaders to discuss the key global issues affecting investors.
Foreign funding and import decline keep currency stable
Ulaanbaatar /MONTSAME/. The Bank of Mongolia has recently delivered an update on the central bank’s midterm reform program and some other latest financial and monetary activities.
ATPF CEO Meeting taking place in Ulaanbaatar
The 32nd ATPF Asian Trade Promotion Forum’s CEO Meeting is taking place in Ulaanbaatar city on September 12-13.
Ground-breaking ceremony held for Zamyn-Uud checkpoint development
Within the framework of developing checkpoints being implemented by Mongolian government, a ground-breaking ceremony was held on September 12 for the project to rebuild border checkpoint that meets the international standards, and improve the capacity of Zamyn-Uud border checkpoint.
Discover Mongolia 2019 international forum to be held
Ulaanbaatar /MONTSAME/. The 17th annual Discover Mongolia conference will be organized on September 26-28 by the Ministry of Mining and Heavy Industry, the Business Council of Mongolia and the Mongolian National Mining Association. The event is aimed at showcasing key private sector led projects that are advancing towards development or are already in construction/production, discussing political and public sentiment ahead of the 2020 Parliamentary election, government legislative plans, including proposed constitutional amendments and other issues genuinely impacting investors and financiers.
Amount of outstanding loans to entities decreases by MNT23 billion
The money supply (broad money or M2) reached MNT 20.5 trillion at the end of August 2019, showing an increase of MNT 185.8 billion (0.9%) from the previous month and by MNT 3.0 trillion (17.4%) from the same period of previous year.
Tax revenue reaches MNT6.2 trillion as of first eight months of 2019
In the first 8 months of 2019, total equilibrated revenue and grants of the General government budget amounted to MNT 6.9 trillion and total expenditure and net lending amounted to MNT 6.3 trillion, resulting a surplus of MNT 549.7 billion in the equilibrated balance.
Decreases showed in extraction of molybdenum concentrate and gold
In the first 8 months of 2019, the gross industrial output reached MNT 11.4 trillion, showing an increase of MNT 1.5 trillion (15.5%) from the same period of previous year. This increase was mainly due to an increase of mining and quarrying gross output by MNT 1.2 trillion (17.2%), of which mining of coal increased by MNT 1.2 trillion (49.2%) and mining of metal ores increased by MNT 60.0 billion (1.5%).
International forum on Mongolia-China cashmere industry organized
Ulanqab /MONTSAME/. In the scope of the third Mongolia-China Expo held in Ulanqab of Inner Mongolia, China, a forum on the development of the cashmere industry was held to discuss policies and mutually beneficial partnership within the Mongolia and China’s cashmere fields.
Exports of mineral products, textiles and precious metals make up 95.7 percent of total export
In the first 8 months of 2019, Mongolia traded with 143 countries from all over the world and total trade turnover reached USD 9.5 billion, of which USD 5.4 billion were exports and USD 4.1 billion were imports.
Ulaanbaatar Partnership 2019 kicks off today
‘Ulaanbaatar Partnership-2019’ International Trade Fair commenced today at Misheel Expo center.
Government to continue online, transparent and effective budget policy in 2020
Ulaanbaatar /MONTSAME/. After discussing the bills on State Budget for 2020, Health insurance fund for 2020, budget framework statement for 2020 general budget of Mongolia and amendments to budget assumptions for 2021-221 and others, the Cabinet backed up and decided to submit them to the Parliament.
UN human rights expert presents findings on Mongolia’s financial and economic issues
Ulaanbaatar /MONTSAME/. The United Nations Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky, conducted an official visit to Mongolia from 2 to 11 September 2019, at the invitation of the Government. Today, September 11, the Independent Expert held a press conference to present his preliminary findings and conclusions of his visit.
Mongolia-Japan business partnership meeting held
Mongolia-Japan Business Partnership Meeting was held on September 10 at Shangri-La hotel.
Government of Mongolia and ADB promote private sector opportunities
Ulaanbaatar /MONTSAME/. The Asian Development Bank (ADB) and the Ministry of Finance of Mongolia co-hosted a private sector opportunities workshop today in Ulaanbaatar, which was attended by over 150 local and foreign private sector companies operating in the country. Mongolia’s Vice Minister of Finance Ms. Bulgantuya Khurelbaatar and ADB’s Deputy Country Director for Mongolia Mr. Declan Magee opened the event.
State Secretary meets Vice Minister of Emergency Management of China
State Secretary of the Ministry of Mining and Heavy Industry G.Nandinjargal received delegates led by Vice Minister of Emergency Management of the People’s Republic of China Huang Yuzhi on September 9.
Social and Cultural Advocacy
In celebration of cultural diversity, the annual Gala Ball is organized by Australian Chamber of Commerce Mongolia (AustCham Mongolia).
Responsible mining codex developed
A responsible mining codex was developed aimed at supporting and development of good examples of responsible mining and ensure sustainable development of the mining industry, and currently some 8 business entities have signed it voluntarily including Erdenet Mining Corporation and Oyu Tolgoi LLC. Minister of Mining and Heavy Industry of Mongolia D.Sumiyabazar informed it when he addressed the opening of the ninth Coal Mongolia 2019 coal trade and investment forum held in Ulaanbaatar on September 5 and 6.