Manual on reporting suspicious transactions published
A manual on Reporting Suspicious Transactions for financial and non-financial professional service providers and intermediaries was published by the Financial Regulatory Commission (FRC). The contents of the manual include the following:
ADB improving livestock production systems in Central Mongolia
The Asian Development Bank (ADB) has approved a loan and technical assistance package totaling $31 million to support the improvement of livestock production systems in 20 soums (districts) of four aimags (provinces) in Central Mongolia.
Revenue from rail transport increases by 8.3 percent
In the first 5 months of 2021, 13.4 million tonnes of freight were carried by railway transport and increased by 1.4 million tonnes (11.9%) compared to the same period of the previous year.
Mongolia trades with 131 countries
In the first 5 months of 2021, Mongolia traded with 131 countries from all over the world, and the total trade turnover reached USD 5.9 billion, of which USD 3.3 billion were exports and USD 2.6 billion were imports. The total foreign trade turnover increased by USD 1.9 billion (48.2%), where exports increased by USD 1.3 billion (65.7%) and imports increased by USD 609.2 million (30.6%) compared to the same period of previous year. In May 2021, exports reached USD 827.3 million, increased by USD 331.0 million (66.7%) and imports reached USD 640.4 million, increased by USD 202.8 million (46.4%) compared to the previous month.
Total amount of outstanding loan increases
At the end of May 2021, the total amount of outstanding loan to enterprises and individuals amounted to MNT 18.3 trillion, increased by MNT 580.1 billion (3.3%) from the previous month, and increased by MNT 1.1 trillion (6.2%) from the same period of the previous year. In the total outstanding loans, MNT 9.2 trillion (50.2%) was individual loans.
Tax revenue increases by 49.4 percent
Ulaanbaatar /MONTSAME/. According to the preliminary results in the first 5 months of 2021, the total revenue of the general government budget was MNT 5.9 trillion. The equilibrated revenue of the general government budget was MNT 5.3 trillion and 90.6% of the total revenue of general government budget.
Germany to partner in technology and engineering
In May, the Government of Mongolia announced that 100 projects are planned to be implemented for recovering the economy after the pandemic. Some of the projects have been deemed possible to be implemented by establishing a joint company in charge of projects, management, and implementation based at the Mongolian National Chamber of Commerce and Industry.
Invitation for bid
“Mongol Refinery” State-Owned LLC invites sealed bids from eligible Bidders for supplying the Seismic interpretation software.
Ceremony organized to ring the bell for 'Invescore Bond' offer commencement
The 'Invescore NBFI' JSC, included in Mongolian Stock Exchange Top-20 index, is issuing the 'Invescore Bond', which is highest amount of debt instrument offered in the history of private sector, and the ringing the bell ceremony for Tranche 1 organized at the Mongolian Stock Exchange on June 14.
Sowing running at 98.6 percent nationwide
As of June 11, sowing has been made to 460.6 thousand hectares nationwide, of which grain is at 98.6 percent (wheat at 99.2 percent), potatoes at 78.6 percent, vegetables at 63.7 percent, fodder plants at 20.1 percent, and oil plants at 99.6 percent.
KOPIA Mongolia Center Director presented with Foremost Agricultural Worker award
On June 11, the Ministry of Food, Agriculture, and Light Industry acknowledged Dr. Man Young Choi, director of Korea Program on International Agriculture (KOPIA) Mongolia Center by bestowing him with the Foremost Agricultural Worker award.
Mongolian small businesses getting ready to export to the European Union
The EBRD and EU, together with EuroChamber, are launching the ‘SME Export capacity building’ project to pave the way for Mongolian SMEs to enter the European market.
MNCCI organizes online discussion on revised draft of Foreign Investment Law
Within the framework of reforming the legal environment for investment, the Mongolian National Chamber of Commerce and Industry (MNCCI) organized an online discussion on the revised draft of the Foreign Investment Law.
Wheat sowing completes nationwide
As of June 8, sowing has been made to 437.7 thousand hectares nationwide, of which grain is at 96 percent (wheat at 96.1 percent), potatoes at 74.9 percent, vegetables at 58.9 percent, fodder plants at 17.1 percent, and oil plants at 82.6 percent.
New international airport to be put into operation on July 4
On June 10, Prime Minister L.Oyun-Erdene became acquainted with the new Chinggis Khaan International Airport as well as the progress of the Bogdkhan Railway Bypass Line project.
Financial Regulatory Commission organizes training for its local representatives
The Financial Regulatory Commission (FRC) conducted online training for its local representatives, on 19 May 2021. During the training, directors of related departments of the FRC provided information on:
Labor Minister meets Sparkasse bank Fund Country Representative
Minister for Labor and Social Protection A.Ariunzaya had a meeting with Country Representative of Sparkasse bank Fund in Mongolia Marcus Loch.
Biocombinat renovation project discussed
Minister of Food, Agriculture and Light Industry Z.Mendsaikhan had a virtual meeting with Deputy State Secretary of the Ministry of Foreign Affairs and Trade of Hungary Istvan Joo.
Mongolian cashmere being exported to Italy by land for the first time
60-70 percent of Mongolia’s total cashmere is exported after primary processing. Increased focus is being given to reducing and eventually stopping export of washed cashmere and increasing production and export of value-added products.
B.Turmunkh: I illustrated 60 pieces for the updated version of ‘The Secret History of Mongols’
D.Sumiyabazar: Law on Legal Status of Ulaanbaatar City has been successfully amended after 27 years
P.Khaliun: I believe the relations between two countries will soon reach strategic partnership