ADB partnership with Mongolia to focus on recovery from COVID-19 for inclusive and sustainable growth
On September 6, the Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Mongolia covering 2021–2024 to help the country recover from the coronavirus disease (COVID-19) pandemic and lay resilient foundations for inclusive and sustainable growth.
Revenue of hotel industry decreases by 18.1 percent
Ulaanbaatar/MONTSAME/. In the first half of this year, the hotel industry revenue reached MNT 62.7 billion, showing a decline of MNT 13.9 billion or 18.1 percent, compared to the same period of the previous year.
Mongolia-Poland business forum to be held
O. Amartuvshin, President of the Mongolian National Chamber of Commerce and Industry (MNCCI), and B. Lkhagvajav, Director of Urbanek LLC, held a meeting with H.E. Mr. Krzysztof Bojko, Ambassador of Poland to Mongolia, on September 3.
Policy rate decline leads to an increase in domestic investment
Ulaanbaatar /MONTSAME/. In the first half of this year, macro economy has grown by 6.3 percent due to operations in the mining sector and the increase in commodity prices.
B.Solongoo: The operations of Oyu Tolgoi company will be monitored
Ulaanbaatar /MONTSAME/. B.Solongoo, Deputy Chief of the Cabinet Secretariat informed about the progress of discussions being held between the Cabinet and the Rio Tinto Group as well as the current situation.
Finance Minister B.Javkhlan: Gashuunsukhait border checkpoint resumes operations
On August 31, Minister of Finance B.Javkhlan announced that the Gashuunsukhait border checkpoint has resumed operations from August 30. Due to the pandemic situation, the Chinese side had made the decision to temporarily halt coal transport between Gashuunsukhait and Gantsmod border checkpoints for 14 days.
Construction of terminal for container transportation to increase coal export
Ulaanbaatar/MONTSAME/. The establishment of additional terminal for containerized shipping at Gashuunsukhait and Shiveekhuren border checkpoint is 80 percent complete.
Coal trucks begin to transport freight from Erlian border checkpoint
The working group appointed by the Government has now been working at Zamiin-Uud for over a month. While 100 transport vehicles used to enter through the border during the time the working group began to be established, the number of vehicles has increased to 170 as of today.
President U.Khurelsukh to participate virtually in Eastern Economic Forum
President of Mongolia U.Khurelsukh will address the Eastern Economic Forum 2021 which will be held in Vladivostok, Russia on September 2-4.
Jobs support loans issued to 23,936 individuals and businesses
As part of the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic Recovery’, jobs support loans totaling MNT 1,811.9 billion have been given to 23,936 borrowers – 5,205 businesses and 18,731 borrowers – as of August 23.
First meeting of national committee for stimulating the economy takes place
Ulaanbaatar /MONTSAME/. The first meeting of the National Committee in charge of stimulating the economy amid the pandemic, increasing export, promoting import-substitute national manufacturing, strengthening public-private partnership and increasing investment took place in August 24.
International service standards being introduced at the new airport
Ulaanbaatar /MONTSAME/. New Ulaanbaatar International Airport LLC, which was established jointly by Mongolia and Japan, is taking responsibility started working in charge of the management of Chinggis Khaan International Airport in Khushigt Valley, built with a soft loan funding from the Government of Japan.
Inflation rate reaches 7.4 percent in July 2021
In July 2021, consumer price index at the national level grew by 1.3% from the previous month, by 8.4% from the end of the previous year and by 7.4% from the same period of the previous year.
Revenue from rail transport increased by 5.2 percent from same period of previous year
Rail transport: In the first seven months of 2021, 18.4 million tonnes of freight were carried by railway transport and increased by 1.5 million tonnes (9.1%) compared to the same period of previous year.
‘SDG-Aligned Budgeting to Transform Employment in Mongolia’ project team works in aimags
As part of the European Union funded project called ‘SDG-Aligned Budgeting to Transform Employment in Mongolia’, Food and Agriculture Organization of the United Nations (FAO) organized consultation meetings on August 18, 2021 with B.Ariunaa, Deputy Governor of Zavkhan province.
Total revenue of general budget increased by 64.7 percent compared to same period of previous year
According to the preliminary results in the first 7 months of 2021, the total revenue of the general government budget was MNT 8.7 trillion, increased by MNT 3.4 trillion or 64.7% compared to the same period of the previous year. On the other hand, the total expenditure and net lending was MNT 8.5 trillion in the first 7 months of 2021, resulting in deficit of MNT 830.6 billion decreased by MNT 1.6 trillion or 66.3% compared to the same period of previous year.
Gross industrial output increased by 32.4 percent from same period of previous year.
According to the preliminary result of the first 7 months of 2021, the gross industrial output reached MNT 10.8 trillion, increased by MNT 2.6 trillion (32.4%) from the same period of the previous year.
Mongolia trades with 141 countries
In the first 7 months of 2021, Mongolia traded with 141 countries from all over the world, and the total trade turnover reached USD 8.6 billion, of which USD 4.7 billion were exports and USD 3.8 billion were imports.
Total sales of stocks decreased by 23.6 percent in July
According to the National Statistics Office, in the first 7 months of 2021, 378.9 million pieces of securities worth MNT 624.7 billion were traded at the national stock market, increased by MNT 596.8 billion (22.4 times more) and 206.8 million pieces of securities (2.2 times more) compared to the same period of the previous year.
Mongolian Stock Exchange makes highest profit in its history
In the first half of this year, the Mongolian Stock Exchange (MSE) made a profit of MNT 1.5 billion for the first time in 30 years. This high yield was mainly due to bond trading activity, which reached MNT 119.6 billion, 6.5 times higher than the same period of the previous year.
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