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Customs tax raised for over 100 products

Imported and domestic food products in Mongolia

By Ch.KHALIUN The Ministry of Industry decided to increase customs tax tariffs by five to twenty percent for over 100 goods in 14 categories, a decision made under the ministry’s policy to support domestic products replacing imports. The Industry Ministry declared 2016 the year for supporting domestic production and sales. The ministry says it is [...]

April 27th, 2016 | Posted in Business & Economics | Read More »

BCM summit addresses business sector development

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By Ch.KHALIUN The Business Council of Mongolia (BCM) held the 1st Annual Business Council of Mongolia Summit last Thursday at Blue Sky Hotel, to discuss and exchange views about how the business community can resolve issues plaguing Mongolia’s business sector under the banner “Supporting sustainable business growth and development in Mongolia”. Executive Director of Erdenes [...]

April 24th, 2016 | Posted in Business & Economics | Read More »

AmCham Monthly Meeting discusses challenges in the mining sector

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By M.OYUNGEREL The American Chamber of Commerce (AmCham) in Mongolia held a panel discussion and a Q&A session about current challenges in the mining industry and future expectations from it with CEO of Energy Resources LLC G.Battsengel, Economist and Executive Director of Mongolia Oil Shale Association Ch.Khashchuluun, and Chief Economist of Erdenes Mongol LLC and [...]

April 22nd, 2016 | Posted in Business & Economics | Read More »

Integrated e-data system launched in the mining sector

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By Ch.KHALIUN The Mining Ministry reported on the launch of the electronic data system of the Extractive Industries Transparency Initiative (EITI), and highlighted that all information related to the nation’s mining sector, including special licenses, production, sales, tax payments, donations, and support, are now centralized and available to the public. Mongolia first joined the EITI [...]

April 21st, 2016 | Posted in Business & Economics | Read More »

Mongolia to spend India’s one billion USD loan on infrastructure

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By Ch.KHALIUN During his state visit to Mongolia last year, Prime Minister of India Narendra Modi promised to provide one billion USD in loans. Mongolian Mining Journal interviewed Minister of Foreign Affairs L.Purevsuren about details on the loan agreement and plans for spending.  Last May, India said that it would provide a one billion USD [...]

April 19th, 2016 | Posted in Business & Economics | Read More »

Mongolia India Business Council opens to support businesses

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By Ch.KHALIUN Last Friday, Mongolia India Business Council (MIBC) was established to support the businesses of the two countries and help in expanding their cooperation. At the opening ceremony of the council, President of the MIBC B.Gantulga said that Mongolia has been importing only religious items and souvenirs from India. He noted that some of [...]

April 18th, 2016 | Posted in Business & Economics | Read More »

Erdenes OT’s Executive Director says hundreds of Mongolians will be hired starting in July

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By Ch.KHALIUN In an interview with News.mn, Executive Director of Erdenes Oyu Tolgoi D.Ganbold spoke about Oyu Tolgoi’s underground mine project and emphasized that starting in July the company will hire hundreds of Mongolians for the mine’s expansion. He said that the underground mine’s development launched in December 2015, after the signing of a financial [...]

April 15th, 2016 | Posted in Business & Economics | Read More »

World Bank suggests diversifying the Mongolian economy

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By Ch.KHALIUN In their East Asia and Pacific Update, World Bank underlined that Mongolia needs to focus on implementing sustainable and smart policies for diversifying the nation’s economy. World Bank (WB) noted that if Mongolia’s economy keeps weakening, the country will face a significant economic recession. World Bank economists suggested that Mongolia discuss the economic [...]

April 13th, 2016 | Posted in Business & Economics | Read More »

PM Ch.Saikhanbileg says ‘Mongolia is back to business’

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By Ch.KHALIUN Prime Minister Ch.Saikhanbileg emphasized in official meetings held during last week’s Credit Suisse Asian Investment Conference (AIC) in Hong Kong that “Mongolia is back to business”. In a speech given at the AIC, the PM stressed that even though the nation’s economy faced difficulties in 2015, the government has moved forward on some [...]

April 11th, 2016 | Posted in Business & Economics | Read More »

Mining suppliers underline challenges at the nation’s biggest mining and oil expo

By Ch.KHALIUN   During the three-day Mongolia Mining 2016 International Mining & Oil Expo, launched on Wednesday at Buyant Ukhaa Sports Palace, mining suppliers talked about challenges facing the nation’s mining sector. Authorities from the Ministry of Mining, Mongolian National Chamber of Commerce and Industry (MNCCI), Erdenes Mongol, and the expo organizing committee presented opening [...]

April 8th, 2016 | Posted in Business & Economics | Read More »

Recently Commented

  • Oyun: www.theblueeconomy.org
  • Honheree: It is a sad and awful sight to see so many animals dead from dzuds. These have happened in the past and since 2004 there have...
  • Harvey Dent: Mongolia does not get 476,000 tourists a year. Its gets 476,000 arrivals, most of these are Chinese construction workers....
  • Honheree: It is good but unusual that a Mongolian is so forthright. I am D. Ganbold will be criticised by Mongolians for telling the...
  • Honheree: Be thankful Mongolia is so cheap. In USA lamb in stores costs 69,281 MNT /kg and sirloin which is cheaper cut of beef is...