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Gatsuurt mine proposed for the list of strategic mining deposits

gold minig

By B.MENDBAYAR A proposal to include Gatsuurt gold mine in the list of strategic mining deposits was discussed in the December 16 Parliamentary Standing Committee on Economy meeting, where the majority of members voted to have its draft bill discussed by Parliament. Gatsuurt gold mine is owned by the Canadian mining company Centerra Gold Inc, [...]

December 17th, 2014 | Posted in Business & Economics | Read More »

Tax exemptions considered for imports for projects financed by Austrian loans


By B.MENDBAYAR At the Cabinet meeting held on December 10, the government resolved to submit a draft law for Parliamentary discussion to exempt imports of equipment, facilities and supplies for projects being implemented through a soft loan from the Austrian government from Mongolian customs tax. The governments of Mongolia and Austria established a financial cooperation [...]

December 14th, 2014 | Posted in Business & Economics | Read More »

Tendering for 18 previously revoked exploration license areas announced


By B.MENDBAYAR The Minerals Authority of Mongolia and the Ministry of Mining launched tendering for 18 areas out of the 106 mineral exploration licenses that were revoked under a court order, on December 10. Proposals for tender will be received through January 9, 2015. Chief of the Policy Implementation Regulatory Agency of the Ministry of [...]

December 11th, 2014 | Posted in Business & Economics | Read More »

Mongolia hosts international workshop to work towards joining APEC


By B.MENDBAYAR A two-day international workshop themed “Strengthening Mongolian National Capacity Building to join Asia-Pacific Economic Cooperation” was cooperatively organized by the Academy of Diplomacy under the Mongolian Ministry of Foreign Affairs and Economic Cooperation, the Research Center for General Coordination of Foreign Policy, and Konrad Adenauer Foundation, in Ulaanbaatar, on December 2 to 3. [...]

December 4th, 2014 | Posted in Business & Economics | Read More »

Private sector calls for the public to purchase domestic goods


By B.MENDBAYAR Representatives of small and medium-sized enterprises (SMEs) held a press conference on November 27 to inform the public about the impact of the current economic downturn on SMEs, and to encourage citizens to support domestic manufacturers through the purchase of their products. The press conference was attended mainly by representatives from food and [...]

November 30th, 2014 | Posted in Business & Economics | Read More »

Mongolia to import poultry products from China


By B.MENDBAYAR A Chinese food firm based in Shandong Province, China, has acquired official permission from the Mongolian government to export poultry products to the country, according to Xinhua News Agency of China. Upon obtaining permission, Fengxiang Co., Ltd has become the first Chinese food company to export poultry products to Mongolia, remarked the Shandong [...]

November 29th, 2014 | Posted in Business & Economics | Read More »

2015 city budget draft to undergo City Council discussion


By B.MENDBAYAR The 2015 city budget draft was ratified to undergo discussion during the City Council Presidium meeting held on November 25. Under the Law on 2015 Budget and the City Governor’s 2013-2016 Action Plan, the draft on the 2015 city budget was carried out with the involvement of citizens and submitted to the City [...]

November 25th, 2014 | Posted in Business & Economics | Read More »

World Bank ready to implement four projects in Mongolia


By B.MENDBAYAR Member of Parliament and Chairman of the Parliamentary Standing Committee on State Structure, A.Bakei had a meeting with the World Bank Country Representative for Mongolia, James Anderson, on November 19, to discuss the bank’s readiness to implement four projects in Mongolia. Beginning the meeting, A.Bakei congratulated James Anderson on his reappointment and expressed [...]

November 23rd, 2014 | Posted in Business & Economics | Read More »

Power plant project to attract over one billion USD in investment

Mogul Power LLC Signing

By B.MENDBAYAR Over one billion USD will be invested to construct a 600 MW mine-mouth power plant at the Tevshiin Gobi brown coal mine in Saintsagaan soum of Dundgobi Province, owned by Mogul Power LLC. A binding memorandum of understanding (MoU) to cooperate on the financing and implementation of the Tevshiin Gobi Power Plant Project [...]

November 18th, 2014 | Posted in Business & Economics | Read More »

NSO reports on social and economic conditions for first ten months of 2014


By B.MENDBAYAR The National Statistical Office (NSO) of Mongolia released its Social and Economic Report for the first ten months of 2014 on November 11. According to a report from the Bank of Mongolia, money supply at the end of October 2014 reached 10 trillion MNT, down by 90.2 billion MNT (0.9 percent) from the [...]

November 16th, 2014 | Posted in Business & Economics | Read More »

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