State Bank issues IPO
As a result, today State Bank LLC is leading the work of becoming an open joint-stock company; among influential banks in the banking system within the framework of the reform of the banking sector.
Deposits in domestic currency decreased by 3.5 percent
At the end of August 2022, the savings deposit in domestic currency amounted to 12.8 trillion MNT, dropped by 470.7 billion MNT (3.5 percent) from the previous month, and by 2.5 trillion MNT (16.3 percent) from the same period of the previous year.
Export of mineral products reaches 70 percent
The total performance of Mongolia’s export of mineral products is currently at 70 percent.
Taxes and fees contribute to the increase in budget revenue
The equilibrated revenue of the general government budget reached MNT 10.0 trillion increased by MNT 1.5 trillion compared to the same period of the previous year. The increase in budget revenue was mainly due to the increase in other taxes and fees by 973 billion MNT
Central bank raises policy rate
Annual inflation reached 14.4 percent nationwide and 14.8 percent in Ulaanbaatar city as of August 2022. External factors have been largely contributing to headline inflation through its impact on prices of imported goods. The extent of such impact is expected to decline in the upcoming quarters, leading to lower inflation outlook.
‘Mongolia Mining 2022’ international mining and oil exhibition taking place
The exhibition, which brings together the best companies in Mongolia's mining industry, is being organized for the 11th year. At the largest exhibition of mining equipment and machinery suppliers, the latest solutions of the industry were brought into one place, providing a good opportunity to learn mutual experience and establish business ties.
Sluggish growth, soaring inflation to persist in Mongolia in 2022
Inflation escalated and remained above the central bank’s target for the past 16 consecutive months. The surge in inflation will continue, mainly due to persistent supply disruptions, rising transportation costs, exchange rate depreciation and its pass-through impacts, and higher prices for food, fuel, and imported durables.
More than 70 companies to participate in 'Ulaanbaatar Partnership-2022' trade fair
The Ministry of Food, Agriculture and Light Industry, the Mongolian National Chamber of Commerce and Industry, and the Mayor’s Office of Ulaanbaatar City will jointly organize the 'Ulaanbaatar Partnership-2022' International Trade Fair from 22 to 25 of this month at the 'Misheel Expo' exhibition hall.
Green Days of Autumn fair taking place
At the fair, farmers from the capital and 21 aimags and local producers are offering newly harvested crops, honey, and baked goods.
Agreement on financial package of USD25 million signed
This is the latest project in Mongolia under the Green Economy Financing Facility (GEFF) programme
Campaign for World Tourism Day starts
As part of the campaign, the Ministry plans to present the present state of tourism industry, services and products including air transportation, hotels, tourist camps, national cuisine, and hospitality services.
Tavantolgoi-Gashuunsukhait rail line becomes operational
The commissioning ceremony of the railway has been held at Tavantolgoi station, Tsogttsetsii soum, Umnugobi aimag, with the presence of President U.Khurelsukh, Minister of Road and Transport Development S.Byambatsogt, Minister of Mining and Heavy Industry J.Ganbaatar, Minister of Economy and Development Ch.Khurelbaatar, MPs and local officials.
‘Inclusive Green Finance’ to be continued under AFI’s in-country-implementation project
At the end of the meeting, Dr. Alfred Hannig expressed his gratitude to the FRC Mongolia, for its commitments and active participation to advance financial inclusion.
Financial Regulatory Commission of Mongolia wins ‘Technical Leadership Award’
The FRC Mongolia wins the ‘Technical Leadership Award’ within the ‘AFI Global Awards’, which demonstrates the contribution and participation of its member institutions in advancing financial inclusion.
‘Coal Mongolia-2022’ international conference being held
Within the framework of the 100th anniversary of the establishment of the mining industry in Mongolia, the ‘Coal Mongolia-2022’ international coal trade, investment conference and exhibition kicked off today.
Mongolia-Thailand business meeting held
Deputy Prime Minister and Minister of Commerce of the Kingdom of Thailand Jurin Laksanawisit is paying an official visit to Mongolia on September 5-7 at the invitation of Minister of Foreign Affairs of Mongolia B.Battsetseg
Central bank purchases 2.9 tons of precious metal in August
The average price of BoM’s purchase of 1 gram of gold was MNT 189,702 last month.
Alliance for Financial Inclusion's Global Policy Forum 2022 launched
In the meeting, member institutions exchanged their ideas on policy changes, and new initiatives directed to advance financial inclusion in the post-pandemic world. During the meeting, it was decided to conduct the 11th ECAPI meeting in 2023 in Ulaanbaatar.
NSO Head B.Batdavaa elected as chairman of session of Statistics Committee of ESCAP
At the session, the National Statistics Office shared its experience on how it has collected and developed data by using the computer-assisted telephone interviews (CATI), an innovative method of data collection, amid the COVID-19 pandemic, and presented the works being implemented in Mongolia in the field of strengthening ‘Data Governance’.
“Mongolia is on the same level as developed countries for its development of IT and communications sector”
“InvesCore’s achievements will serve as a stepping stone for many more Mongolian companies to enter the foreign market”
B.Turmunkh: I illustrated 60 pieces for the updated version of ‘The Secret History of Mongols’