Reforms Crucial to Navigate Stronger Headwinds
The World Bank’s latest Mongolia Economic Update projects that the economy will grow by 2.5 percent in 2022, reflecting lingering border frictions with China and the impact of the war in Ukraine.
The Bank of Mongolia to support green and sustainable financing system
On April 18, the Bank of Mongolia and the Mongolian Sustainable Finance Association established a memorandum of understanding on cooperation.
Cooperation agreement for project to construct a crude oil pipeline signed
The Government made a decision on January 6, 2020 to transport the raw material of the oil refinery through a pipeline.
New challenge surfaced in making domestic stock market accessible
A forum took place under the theme, ‘IPO Mongolia: Accessible Stock Market’ on April 15. While there used to be a large number of retail investors in the Mongolian stock market, larger, institutional investors have now become more common, highlighted Director of the Securities Market Department at the Financial Regulatory Commission (FRC) B.Dulguun.
Daniel Kawczynski: UK Government will actively carry out works to invest in Mongolia
The Mongolia-UK business forum took place on April 13. Co-organized by the Ministry of Foreign Affairs, the British Embassy in Mongolia, and the Mongolian National Chamber of Commerce and Industry, the forum was attended by Trade Envoy of the UK Prime Minister, MP Daniel Kawczynski and Ambassador Philip Malone.
Export of seabuckthorn berries to be promoted
On the second day of the ‘Food supply and security – Crop farming’ forum, meetings of vegetable and fruit/berry farmers took place.
Flour export conditions agreed with 13 factories of China
‘Food supply and security – Crop farming’ national farmers’ forum is taking place.
Advanced technology metallurgical plant opens in Mongolia
Steppe Metal Powder’ Company has opened its export-oriented metallurgical facility that produces copper and copper alloy powders from copper scraps and copper cathode.
‘Food supply and security – Crop farming’ national farmers’ forum taking place
The Fourth Campaign for Reclaiming Virgin Lands is launching.
AmCham Mongolia’s Monthly Meeting encourages rapid restructuring of state-owned enterprises
On April 5, the American Chamber of Commerce in Mongolia (AmCham Mongolia) organized its April Monthly Meeting, Promoting the Private Sector-led Economic Development of Mongolia.
“It is possible to earn MNT 60 billion from transit flights”
The ‘Mongolia Economic Forum-2022’ is continuing for the second day today, with one of the discussions taking place on the revival of the tourism sector.
Mongolia’s growth to stay muted for 2022 at 2.3 percent before climbing in 2023
Mongolia’s economic growth is expected to be constrained by high inflation, persistent trade disruptions, tighter external financing conditions, and complex geopolitical risks before accelerating in 2023 as coronavirus disease (COVID-19) concerns and trade disruptions ease, says a new report by the Asian Development Bank (ADB) released today, April 6.
MIAT Mongolian Airlines launches regular direct flights to Istanbul
Starting from today on April 6, the national flag carrier, MIAT Mongolian Airlines, has begun to regularly conduct direct flights between Ulaanbaatar and Istanbul.
Russian companies holding meetings with local authorities to discuss gas pipeline project
The natural gas pipeline connecting Russia and China will go through the territory of Mongolia, passing through six aimags for a total distance of 962.9 km. As an agreement has been signed between the sides of Mongolia and Russia on conducting studies for the project, the Russian companies in charge of carrying out the works have begun to hold their first meetings with the side of Mongolia - local governing bodies.
Mongolia-India direct flight to be conducted from this summer
Mongolia-India strategic partnership and cooperation will make various advancements and achievements this year, highlighted Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M.P.Singh. During the business meeting organized on expanding Mongolia-India cooperation in trade, technology, and tourism, the Ambassador also noted that construction projects are being implemented on an oil refinery as well as an education and outsourcing center on IT and cyber security, with soft loan from the Government of India.
Consultative meeting takes place on vocational education and labor market
There has begun to be an imbalance in the labor market of Mongolia. Due to the incapacity to meet market demands, certain sectors have already had a shortage in workforce.
Deputy PM holds meeting with executives of Engineers India Limited
On March 31, Deputy Prime Minister S.Amarsaikhan received the executives of Engineers India Limited, the consultation company in charge of providing services for the management of the oil refinery construction project.
Mongolia’s import from India reaches USD 30 million
Mongolia-India cooperation meeting themed ‘Expanding 3T Horizons for India and Mongolia – Trade-Technology-Tourism’ was held at the Mongolian National Chamber of Commerce and Industry (MNCCI) on March 25, 2022
Central bank raises its policy rate
The Monetary Policy Committee (MPC) of the Bank of Mongolia held scheduled meetings on March 23 and 24, 2022. Taking into consideration the current state of the economy and financial markets as well as the outlook for the domestic and foreign economic environment, the MPC decided to increase the policy rate by 2.5 percentage points to 9.0 percent.
JMC Projects India representatives visit Mongolia Refinery State Owned LLC
Representatives of JMC Projects India led by the company’s CEO & Managing Director Shailendra Kumar Tripathi visited Mongol Refinery State Owned LLC and became acquainted with the implementation of the Oil Refinery Project.