ADB provides USD100 million in emergency support to Mongolia
“This ADB loan will support government measures to stabilize the economy,” said ADB Financial Sector Specialist for East Asia Peter Rosenkranz. “The budget support provided through this countercyclical support facility (CSF) loan will also provide fiscal space to continue with critical economic structural reforms over the medium term.”
Domestic need of wheat and potato to be fully secured
At the regular Cabinet meeting today, August 24, the Minister of Food, Agriculture and Light Industry reported on the preliminary harvesting balance of 2022 and the export of meat and meat products.
Mongolia-Japan business forum taking place
The Mongolia-Japan business forum is being organized on the occasion of the 50th anniversary of the establishment of diplomatic relations between Mongolia and Japan, the 25th anniversary of the establishment of JICA's representative office in Mongolia, and the 20th anniversary of the establishment of the Mongolia-Japan Human Resource Development Center.
Cooperating with World Bank for optimizing the operation of Ministry of Economy and Development
It was agreed to work closely with the World Bank in strengthening the capacity of the Ministry of Economy and Development and holding monthly joint discussions on the macroeconomic outlook in the future.
Investment opportunities and challenges in Mongolia discussed
The American Chamber of Commerce in Mongolia (AmCham Mongolia) organized a discussion and meeting on August 17, 2022, on investment opportunities and challenges in Mongolia.
Total revenue of general government budget increased by 8.9 percent compared to the same period of previous year
In July 2022, tax revenue reached MNT 1.3 trillion, increased by MNT 109.6 billion (9.5 percent) compared to the same period of previous year.
Gross industrial output increased by 2.0 percent from the previous month
In July 2022, the gross industrial output reached MNT 2.0 trillion, increased by MNT 40.4 billion (2.0%) from the previous month. In July 2022, the sales of industrial products reached MNT 2.8 trillion, increased by MNT 377.4 billion (15.3%) from the previous month.
‘MIK Holding’ JSC presents its report for the first half of 2022
Total assets decreased by 8.8 percent from the same period last year due to the payment of the ‘Oelun’ bond, reaching MNT 3,853.6 billion as of June 30, 2022.
Bank of Mongolia’s economist receives ‘Outstanding Research Award’
Researcher and economist at Bank of Mongolia Boldbaatar Munkhnasan’s publication named ‘Farmland Rental Rate: Does Organic Certification Matter?’ (Co-authored with Joseph P Janzen and Kate Binzen Fuller) has received an ‘Outstanding Research Award’ from the Agricultural and Applied Economics Association in 2022.
113.5 thousand tons of coal exported
3252 containers with 813 vehicles and 113.5 thousand tons of coal were exported through the container transport terminal at Gashuunsukhait port.
Mortgage loans worth MNT 355 billion disbursed
In the first seven months of this year, about 4.5 thousand borrowers received mortgage loans worth about MNT 355 billion through the funding sources of the Bank of Mongolia and commercial banks. In addition, mortgages worth MNT 71.7 billion are being disbursed in August this year, reported the Bank of Mongolia.
Mongolia’s top SDG governing body endorses the draft Integrated National Financing Strategy
UN Joint Programme on “Rolling Out an Integrated Approach to the SDG Financing in Mongolia,” implemented by UNDP in partnership with UNICEF under the leadership of Ministry of Finance with the generous and material support from the Joint SDG Fund, provided extraordinary opportunity to Mongolia for the development of the Integrated National Financing Strategy over the past two years.
BoM purchases 1.7 tons of precious metal in July
In July, the BoM branches in Darkhan-Uul and Bayankhongor aimags bought 778.5kg and 650kg of precious metals respectively.The average price of BoM’s purchase of 1 gram of gold was MNT185,224.93 last month.
Cooperation to be developed with S.Korea to improve control system of oil products
Within the framework of the MoU, the parties will cooperate in improving oil quality, standards and control systems, exchanging experiences, creating database as well as conducting a joint research.
Mongolia-Japan business forum to be held
The Embassy of Japan in collaboration with JICA Representative Office and Mongolia-Japan Center for Human Resources Development will organize a Mongolia-Japan Business Forum on August 19.
Mongolia's Recommendation 15 assessment improved
The Chairman, and representatives of the National Security Agency, congratulated and praised Mongolia for its improvements, and its creation of an AML/CFT system.
Cooperation with EU to be intensified
On August 3, Deputy Minister of Food, Agriculture and Light Industry G.Batsuuri received Ambassador Extraordinary and Plenipotentiary of the European Union to Mongolia Axelle Nicaise.
Expansion of investment market and increase of business cooperation opportunities agreed
The parties agreed to expand the investment market and increase business cooperation opportunities, to hold a tripartite meeting with China to increase the volume and network of transit through the territory of China,
World Bank expresses commitment to support in conducting analysis on trade policy reform
The Vice Minister provided information on current economic situation and development policy of Mongolia, including the implementation of the New Recovery policy, as well as the actions in terms of integrating development planning and budget planning.
“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’