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Budget deficit sees a decrease but expected to rise in the second half of 2015

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By Ch.KHALIUN Gogo.mn spoke with the State Secretary of the Ministry of Finance, Kh.Gantsogt, regarding current financial issues, with a focus on the state’s budget deficit. As of the first half of this year, Mongolia’s budget deficit equaled 534.9 billion MNT. The deficit was down by 716.3 billion MNT from projections. What primarily influenced the [...]

July 28th, 2015 | Posted in Business & Economics | Read More »

Construction Minister calls for apartment warranties of 40 to 60 years

Guarantee for new apartments to be extended for 40 to 60 years EDIT-1

By Ch.KHALIUN Minister of Construction and Urban Development D.Tsogtbaatar visited construction companies to become acquainted with their labor safety, sanitation, and construction work last Friday. He reminded the companies to focus on construction quality and said that apartment warranties should be 40 to 60 years. The Minister visited the sites of Nomin Construction’s River Garden [...]

July 28th, 2015 | Posted in Business & Economics | Read More »

80 percent of crops dead, 150 billion MNT buried in the ground

By B.Khash-Erdene Approximately 80 percent of Mongolia’s crops have died this summer due to extreme drought across the country, according to board member of the Mongolian Plantation Union B.Erdenebat. Though the situation has reached a critical level, the Ministry of Industry and Agriculture has yet to take action, let alone announce to the public what [...]

July 24th, 2015 | Posted in Business & Economics,Community,Domestic,Opinion | Read More »

‘Capital City Tax is not a strain’

Trans. by M.OYUNGEREL Ulaanbaatarians are going to start paying city taxes starting October 1. One of the most controversial laws passed at the spring session was the Capital City Tax (CCT) law. Some parliament members viewed this as an unnecessary strain on people’s lives. Especially during a recession, many say it’s not a good idea [...]

July 24th, 2015 | Posted in Business & Economics,Domestic | Read More »

Amgalan Power Plant to provide heat and energy soon

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By Ch.Khaliun The Cabinet resolved financing of 3.9 billion MNT necessary for test heating through the plant’s network. The PM instructed Chairman of Development Bank N.Munkhbat to immediately transfer the funds, and Chairman of Mongolian Customs B.Tsengel to expand the temporary customs procedures period and eliminate taxes for two trucks that will transport ash from [...]

July 24th, 2015 | Posted in breaking news,Business & Economics,Онцлох мэдээлэл,Топ мэдээ | Read More »

Housing surplus to reach 16,000 by 2020

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By Ch.KHALIUN The Ministry of Construction and Urban Development and market analysts estimate that the housing supply surplus will reach 16,000 in the next five years. Estimates suggest that 189,240 households in UB, and around 16,000 households in other regions have real demand for real estate purchase, but only 31.2 percent of the properties have [...]

July 21st, 2015 | Posted in Business & Economics | Read More »

South Korea opens up new opportunities to boost transportation

By Ch.KHALIUN On Friday, the Ulaanbaatar Railway Joint Venture Company and South Korean national railroad operator Korail Corporation established a memorandum of understanding on cooperation in the railway sector, opening up new possibilities for partnership in transit transportation between the two countries. Korail, which owns the biggest rail network in South Korea, says it will [...]

July 21st, 2015 | Posted in Business & Economics | Read More »

Mongolia to export horse meat products to China

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By Ch.KHALIUN Mongolian companies now have the chance to export horse meat products to China, including meat dumplings and bone meal. Last week, Chairman of the General Agency for Specialized Inspection (GASI) Sh.Radnaased and Vice Minister of the General Administration of Quality Supervision, Inspection and Quarantine Wu Qinghai signed export inspection and quarantine protocols that [...]

July 16th, 2015 | Posted in Business & Economics | Read More »

Private sector trading and settlement organization established

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By Ch.KHALIUN During its 18th regular meeting, the Financial Regulatory Commission (FRC) gave special permission to Dealer Commercial Center LLC to carry out securities trading, clearance, and settlement activities. The company believes that their targeted market is looking for investment packages made through the state budget, foreign investment, individuals, organizations, insurance companies, commercial banks, and [...]

July 7th, 2015 | Posted in Business & Economics | Read More »

Speaker visits SME factories

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By Ch.KHALIUN On Saturday, Speaker of the Parliament Z.Enkhbold visited the factories of Sor Cahsmere and Khishigten Gal to become acquainted with their activities. Beginning the visit, head of the Sor Cashmere factory D.Battsengel introduced that they are executing all stages of production to make raw materials into finished products. Sor Cashmere took out a [...]

July 5th, 2015 | Posted in Business & Economics | Read More »

Recently Commented

  • Ralf Jones: Mongolian food service industry has improved a lot, I am glad to see that student in Mongol can find a better studying...
  • JR: Great opportunity for Mongolia. However, foreign direct investment will be required to finance all the projects that will be...
  • Mongolian: Should’ve known this was a patronizing snob’s grade school, five-paragraph composition before clicking here.
  • Irene: People appear not acknowledge the fact that, we are minuscule in a vast unknown, we are pulled along inside our “Milky...
  • Stephanie Bowry: Fascinating article: does anyone happen to know if the website of the Mongolian National Modern Art Gallery is down? I...