World Bank: Mongolia’s midterm economic outlook remains positive
Ulaanbaatar /MONTSAME/. While Mongolia’s economy is starting to slow from its brisk pace of recent years, the medium-term growth outlook remains positive, according to the World Bank’s February 2020 Mongolia Economic Update, released last week.
BoM Governor participates in IMF-JICA Joint International Conference in Japan
A delegation led by Governor of the Bank of Mongolia B.Lkhagvasuren attended an international conference jointly organized by the International Monetary Fund (IMF)’s Regional Office for Asia and the Pacific and Japan International Cooperation Agency (JICA) on February 12-13.
Erdenet Mining Corporation to commence major projects this year
Within its main directions of development, Erdenet Mining Corporation plans to carry out technical and technological modernization and commence capacity building projects with a purpose to increase the ore reserve, reduce costs and improve competitiveness.
Copper concentrate export decreases by 13 percent in January
In January, copper concentrate export reached 101.6 thousand tons, showing a decrease of 13 percent compared to the same period of last year.
Fluorspar enrichment plant becomes ready to commission in Dundgobi
‘Bolorjonsh’ LLC of Bayanjargalan soum of Dundgobi aimag has built fluorspar enrichment plant in territory of Enger-Us bagh (smallest administration unit) of the soum and it became ready to commission.
Oyu Tolgoi announces performance results for fourth quarter of 2019
Ulaanbaatar /MONTSAME/. Today, February 12, Oyu Tolgoi CEO Armando Torres along with the company’s senior managers held a press briefing to introduce the performance results for the fourth quarter of 2019.
Import of animal-related products declines
According to the Customs General Administration, the import of animal-related products for last month reached US5.9 million, showing a decrease of 4.1 percent as compared with the same period of 2019.
Enhancing use of Mongolia-Japan Economic Partnership Agreement
The Mongolia-Japan Economic Partnership Agreement entered into force on June 7, 2016.
MNCCI offers force-majeure certificates free of charge
Considering the widening quarantine restrictions in China due to the coronavirus outbreak, the Mongolian National Chamber of Commerce and Industry (MNCCI) is offering certificate of force-majeure to the entities free of charge within its social responsibility action.
Coal export halted until March 2
Yesterday, on February 10, the Ministry of Health reported that two confirmed cases of coronavirus have been recorded in Khaliut border crossing of China, which is in distance of 120 km from Gashuunsukhait border checkpoint of Umnugobi aimag, Mongolia.
Oyu Tolgoi in-country spend passes US$10 billion
Ulaanbaatar /MONTSAME/. Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, today announced that the company has reached US$10 billion in total in-country spend since 2010, marking the largest foreign investment made in the country.
Mongolia’s export decreases by 24.4 percent, import by 6.1 percent
On February 7, the Customs General Administration gave briefing on foreign trade preliminary performance of January, 2020 and measures being taken in customs checkpoints for prevention of coronavirus infection.
Financing agreement signed for World Bank Livestock Commercialization Project
Ulaanbaatar /MONTSAME/. On February 7, the Ministry of Finance of Mongolia and the World Bank signed Financing agreement for the Livestock Commercialization Project.
IFAD Project to increase its beneficiaries
Minister of Food, Agriculture, and Light Industry Ch.Ulaan and Acting State Secretary of the Ministry of Food, Agriculture and light Industry T.Jambaltseren held a meeting with Country Director for Mongolia of International Fund for Agricultural Department Hubert Boirard to discuss organizing project measures for 2020 involving local governments and strengthening partnership.
SME Development Fund to grant loan of MNT 52.3 billion this year
This year, Small and Medium Enterprises (SME) Development Fund will grant loan of MNT 52.3 billion.
Mongolian Mineral Exploration Roundup to be held for 12th year
The 12th edition of the Mongolian Mineral Exploration Roundup international forum, exhibition is to be organized in Ulaanbaatar on March 26-27, 2020.
Central bank to roll out improved banknotes
Ulaanbaatar /MONTSAME/. The Bank of Mongolia today announced the introduction of improved notes of MNT 50 and MNT 20,000 to the country’s currency denomination, as part of a measure to reconstitute the reserves of banknotes in circulation.
190 thousand head of livestock to be tagged
The steering committee of the Animal Identification and Registration System (AIRS) pilot project held a meeting today, on February 6.
MNT 22.6 billion allocated in the budget for wool incentive
The government of Mongolia annually provides herders with incentives to increase agricultural output.
Minister D.Tsogtbaatar: Introduction of new political culture required for establishment of wealth fund