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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

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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 »

GDP by production grows in the first nine months of 2014

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By B.MENDBAYAR The National Statistical Office (NSO) has reported on the nation’s gross domestic product (GDP) growth for the first nine months of 2014. According to the report, GDP by production reached 11,093.5 billion MNT at 2010′s constant price in the first nine months of 2014, increasing by seven percent from the same period of [...]

November 9th, 2014 | Posted in Business & Economics | Read More »

Private sector calls for action from Parliament members

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By B.MENDBAYAR Representatives of several private sector organizations have issued a declaration urging Parliament members to take into account public suggestions on the means to overcome ongoing economic difficulties. As the draft bill on the 2015 state budget and guidelines for next year’s state monetary policy have been submitted to Parliament for discussion, private sector [...]

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

Leather industry complex to be established in Shar Khutsiin Khooloi

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By B.MENDBAYAR A leather industry complex was resolved to be established in Shar Khutsiin Khooloi during the cabinet meeting held on October 31. The Government approved changing clause No. 1 of Government Resolution Number 249, a directive to create a “cluster leather industry complex in a location called Shar Khutsiin Khooloi, located in khoroo 14 [...]

November 2nd, 2014 | Posted in Business & Economics | Read More »

Mongolian railroad set to have both narrow and broad gauge rails

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By B.MENDBAYAR The long-ranging dispute over using mixed railway gauges has now been settled, and Mongolia is set to lay narrow gauge rails to its southern border points and broad gauge rails to its northern ports. A draft resolution on “Some Measures to Ensure the Implementation of the State Policy on Railway Transportation” was ratified [...]

October 28th, 2014 | Posted in Business & Economics | Read More »

D.Battogtokh: SME owners would create stable economic growth

By B.MENDBAYAR The Government has paid substantial attention to supporting small and medium-sized enterprises (SMEs) for the past few years, as a key factor in creating a stronger and more diversified economy.  Below is an interview with the Director of Department for Development of Small and Medium-Sized Enterprises in the Ministry of Labor, D.Battogtokh, about [...]

October 26th, 2014 | Posted in Business & Economics | Read More »

Mongolia to increase its beef exports to Russia tenfold

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By B.MENDBAYAR Russian officials expect Mongolia to increase its annual beef export to Russia to up to 110,000 tons, a tenfold increase from its current export volume, according to globalmeatnews.com Currently, Mongolia annually exports 10,000 to 11,000 tons of beef to Russia. However, Russian industry participants expect that Mongolia could increase its current beef export [...]

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

New high-speed railway connecting Beijing and Moscow to pass through Mongolia

new railway

By B.MENDBAYAR China and Russia signed a memorandum of understanding (MoU) early last week on building a 7,000 kilometer high-speed railway from Moscow to Beijing, according to Chinese media. The MoU was signed during Chinese Premier Li Keqiang’s visit to Moscow. The railway would be over 7,000 kilometers long and cost more than 230 billion [...]

October 22nd, 2014 | Posted in Business & Economics | Read More »

Mongolia to become founding member of Asian Infrastructure Investment Bank

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By B.MENDBAYR Mongolia is set to become a founding member of the Asian Infrastructure Investment Bank (AIIB) upon signing a memorandum of understanding (MoU) with other Asian countries to establish the bank. The government has selected Ambassador Extraordinary and Plenipotentiary of Mongolia to China Ts.Sukhbaatar to sign the MoU being established between the founding member [...]

October 20th, 2014 | Posted in Business & Economics | Read More »

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