AmCham hosted Head of the Cabinet Secretariat L. Oyun-Erdene to its October Monthly Meeting
The American Chamber of Commerce in Mongolia (AmCham Mongolia) held its October Monthly Meeting, Government Priorities and the Role of Foreign Investment, with guest speaker Head of the Cabinet Secretariat L. Oyun-Erdene.
PM works at gov’t organizations in charge of administering minerals industry
On October 20, Prime Minister of Mongolia U.Khurelsukh worked at the National Geology Office, Mineral Resources and Petroleum Authority and Ministry of Mining and Heavy Industry.
Mongolia, Russia and China to jointly develop tourism
The fifth meeting of the Ministers of Tourism of Mongolia, Russia and China was held virtually yesterday, on October 20. The meeting was organized at the initiation of the Federal Agency for Tourism of Russia, focusing on the revitalization of the tourism industry, which suffered the most from the global outbreak of COVID-19 pandemic, and the establishment of joint tourist itineraries and the expansion of cooperation within the sector.
Tourism companies to jointly create a brand product
A discussion took place on the challenges that have surfaced in the tourism sector due to the pandemic and its solutions at the Mongolian National Chamber of Commerce and Industry (MNCCI) on October 20.
Mortgage loan interest cut to 6 percent
During the parliamentary discussion held on October 16, Friday on Mongolia’s budget bills, such as State Budget bill for 2021, Social Insurance and Health Insurance Budget Bills for 2021, Minister of Construction and Urban Development B.Munkhbaatar informed that commercial banks had already started issuing mortgage loans with lowered interest rate of 6 percent to eligible borrowers.
‘Statistics- usage’ workshop organized
On the occasion of World Statistics Day, a workshop themed ‘Statistics-Usage’ was organized on October 19 with a purpose to introduce official statistical data, improve its usage and present the major activities planned for this year.
First rural “Start-Up” Center opens in Dornod
The first rural “Start-up Center” was opened in Dornod aimag with investment of MNT 120 million from the Local Development Fund.
FRC inducted as vice-chair of ECAPI Expert Group on Financial Inclusion Policy
At the 6th Meeting of Eastern Europe and Central Asia Initiative (ECAPI) Experts Group on Financial Inclusion Policy (EGFIP), virtually organized by the Central Bank of Armenia and the Alliance for Financial Inclusion (AFI), the Financial Regulatory Commission of Mongolia (FRC) has been inducted as the vice-chair of the expert group.
‘Wool, cashmere, and leather products-2020’ expo opens
On October 18, the ‘Wool, cashmere, and leather products-2020’ expo opened at Misheel Expo. At the opening ceremony, Director of Light Industry Policy Implementation and Coordination Department of the Ministry of Food, Agriculture and Light Industry M.Dondogdorj highlighted that the expo is conducted in the framework of working towards achieving the objective to increase commodity processing and export.
Mongolia-France business meeting to be held virtually
Mongolia-France business meeting will be co-organized virtually by the Mongolian National Chamber of Commerce and Industry (MNCCI) and Mongolia-France business council of MEDEF (Movement of the Enterprises of France) within the framework of the 55th anniversary of the establishment of diplomatic relations between Mongolia and France.
T.Duuren: "Special loan needed to promote export of light industry”
A scientific and theoretical conference on science, development strategy and export trend of light industry took place last Friday, October 16.
Khan Bank named the Best Domestic Bank in Mongolia for the 11th time
Euromoney magazine has named Khan Bank the 2020 Best Domestic Bank in Mongolia again.
National Privatization Fund's offering oversubscribed
Mongolia’s first closed-end mutual fund, National Privatization Fund (NPF) started a New Fund Offering (NFO) from October 5.
“Discover Mongolia-2020” forum to take place on October 30
“Discover Mongolia-2020” International Mining Investors' Forum is to be held on October 30 under the topic “Mining: Road to Recovery” by “Prime Info” LLC in partnership with the Mongolian National Mining Association.
ADB to partner with the central bank in developing banking infrastructure
On October 16, Governor of the Bank of Mongolia B.Lkhagvasuren received ADB Country Director for Mongolia Pavit Ramachandran.
In Central Asia, a Soviet-era electricity network could power future energy sharing
With expanding regional cooperation and a readily available platform, the building blocks are in place for Central Asia to achieve energy security, resilience and economic competitiveness.
Mongolia’s removal from FATF grey list supported at ICRG meeting
A meeting of the International Cooperation Review Group (ICRG) of the Financial Action Task Force (FATF) to discuss final recommendation to the FATF Plenary session held virtually yesterday.
Deficit of government budget decreased by 56.7 percent
According to the preliminary results in the first nine months of 2020, the total revenue of the general government budget was MNT 7.3 trillion.
Non-performing loans in banking system amounted to MNT 2.0 trillion
At the end of September 2020, the total amount of outstanding loan to entities and individuals amounted to MNT 17.3 trillion, decreased by MNT 30.9 billion (0.2%) from the previous month, and by MNT 802.6 billion (4.4%) from the same period of the previous year. In the total outstanding loans, MNT 8.9 trillion (51.5%) was individual loans.
Securities traded at stock market dropped by 73.2 percent from last year
According to the first nine months of 2020, securities worth MNT 34.8 billion were traded at the national stock market, which showed a decrease of MNT 94.9 billion (73.2%) compared to the same period of the previous year.
G.Tumurchuluun: I found out from my students that my book was being sold at Cuban bookstores