Sales revenue of Erdenes Tavan Tolgoi reaches USD 1 billion
Sales revenue of Erdenes Tavan Tolgoi JSC reached USD 1 billion or MNT 2.7 trillion in 2019.
Government repays MNT 1.5 trillion debts in 2019
Ulaanbaatar /MONTSAME/. Within the framework of Government’s goal to ‘reduce debt burden’, debts worth MNT 1.5 trillion were paid off in 2019 by improving budget discipline and opting out of high-interest commercial loans.
VAT refunds worth MNT 139 billion to be distributed
Ulaanbaatar /MONTSAME/ This year, more than 900 thousand citizens will be receiving Value-Added Tax (VAT) refunds worth MNT 139 billion for their purchases made in 2019.
Commercial banks told to halt lending for pensioners
Ulaanbaatar /MONTSAME/. In his New Year’s Eve address on television, President of Mongolia announced that a decision made by the members of the National Security Council on a full and one-time repayment of all pension loans by means of boosting the economic activities of the Salkhit silver mine, with the purpose of relieving the elders who dedicated their lives for the development and prosperity of Mongolia of their debt pressure.
Each coal seam of Tavantolgoi deposit contains methane gas
During the exploration, it is detected that each coal seam of Tavantolgoi deposit contains methane gas and the project implementers are working on defining its reserves.
National flight capacity to increase by over 40 percent
Direct flights between the cities of Ulaanbaatar and Istanbul have begun to be conducted by Turkish airlines from January 1, 2020.
Disabled people to be exempted from income tax
According to a pack of Law on Tax, which was adopted in 2019 within the Government objective ‘Tax reform’, citizens will benefit from various types of preference and support starting from January 1, 2020. It includes:
Foreign exchange reserve reaches USD 4 billion
Ulaanbaatar /MONTSAME/. Mongolian foreign exchange reserve reached USD 4 billion, according to the Bank of Mongolia (BoM) which has increased by USD 600 million compared with the same period of the previous year.
Total trading value of 2019 reaches MNT143 billion
The total trading value of 2019 reached MNT 143 billion and four companies issued new securities raising MNT 42.4 billion, setting the record for the highest primary market trading value in the 29-year history of the Mongolian stock market, reported the Mongolian Stock Exchange.
EU Registered exporter system to come into effect on January 1
Ministry of Foreign Affairs, Customs General Administration and Mongolian National Chamber of Commerce and Industry (MNCCI) will jointly implement the European Union (EU)’s Registered Exporter system (the REX system), a system of self certification of origin of goods that applies in the EU Generalised System of Preference (GSP).
Nationwide harvesting reported with abundant yields
Ulaanbaatar /MONTSAME/. A preliminary report on harvesting of 2019 released by Ministry of Food, Agriculture and Light Industry shows that a total of 424 thousand tons of grains were harvested.
Mongolia has 70.9 million livestock animals counted
Ulaanbaatar /MONTSAME/. The National Statistical Office of Mongolia presented today the preliminary results of annual livestock census of 2019, which was performed between December 7-17, nationwide.
H.Amartuvshin: We are focusing on loan portfolio quality
The Development Bank of Mongolia (DBM) placed emphasis on improving its corporate governance and profitability as well as the quality of loan portfolio this year, said DBM Chief Executive Officer H.Amartuvshin at a briefing held on December 26 at Kempinski Hotel.
Erdenes Silver Resource LLC to refine 750 tons of silver within five years.
On December 25, ‘Erdenes Mongol’ LLC and ‘Erdenes Silver Resource’ LLC established an agreement with the Bank of Mongolia to cooperate in selling and purchasing precious metals and handed the first sample of refined silver, extracted from Salkhit silver deposit, to the State Fund of Treasury.
Atar-4 campaign to be launched
At its regular meeting on December 25, the Cabinet made a decision to announce a commencement of ‘Atar-4 campaign for sustainable farming development’ nationwide, beginning January 1, 2020.
Mongolia-China trade fair opens in Erenhot
A trade fair of Mongolian and Chinese consumer goods is being held in Erenhot, China between December 24 and January 2.
The World Bank approves a new loan to improve productivity of livestock sector
The Board of Executive Directors of the World Bank has approved USD 30 million in loan financing for the Mongolia Livestock Commercialization Project.
MNCCI office to open in Japan
Founder of JETconnect co.,LTD of Japan Eiki Shigeta has been appointed as an Honorary Representative of Mongolian National Chamber of Commerce and Industry (MNCCI) in Japan.
Entrepreneur 2019 selects top national entities
Promoting top entities and businesspeople who contribute to the national economy, the Entrepreneur Ceremony took place on December 20, 2019 for the 23rd year organized by the Mongolian National Chamber of Commerce and Industry (MNCCI).