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PM discusses the government’s current policies during AmCham’s monthly meeting

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By M.OYUNGEREL Prime Minister Ch.Saikhanbileg discussed the government’s current policy priorities and an overview of the economic outlook at the American Chamber of Commerce in Mongolia’s (AmCham) Monthly Meeting on Wednesday. At the beginning of the meeting, Kirk McBride, Deputy Chief of the Mission for the U.S. Embassy in Ulaanbaatar said that the main concern [...]

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

Labor and Industry Ministries to support micro businesses

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By Ch.KHALIUN Labor Minister G.Bayarsaikhan and Industry Minister D.Erdenebat signed a memorandum of cooperation on Wednesday at the State Palace to increase jobs by supporting micro businesses and entrepreneurs. The memorandum was signed to implement Mongolia’s long term sustainable development strategy through 2030, the state’s industrial policy, and the Mongolians with Jobs and Income program. [...]

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

National Statistical Office reports on February’s socioeconomic indicators

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By K.TUGCHIN The National Statistical Office released its monthly report on socioeconomic indicators of the country last week. Below are the February 2016 socioeconomic indicators of Mongolia. Unemployment The number of unemployed reached 35,100 at the end of February 2016, which is an increase of 1,300 (3.9 percent) compared to the same period of the [...]

March 16th, 2016 | Posted in Business & Economics | Read More »

US diesel engine manufacturer to open a Mongolian branch this month

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By K.TUGCHIN Steve Rose, the general manager of Cummins Mongolia Investment LLC, met with Ulaanbaatar Mayor E.Bat-Uul on March 11 to talk about the opening of a branch office for the U.S.-based diesel engine manufacturing company in Ulaanbaatar on March 25. During the meeting, Rose highlighted that Cummins made profit of 19 billion USD last [...]

March 14th, 2016 | Posted in Business & Economics | Read More »

Mongolia ends its feud with Khan Resources

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By K.TUGCHIN Mongolia has reached an agreement to pay a 70 million USD settlement to Khan Resources to end a dispute over its 2009 cancellation of the Canadian mining company’s uranium licenses in Mongolia. The settlement comes after Khan announced that it would try to put a stop to the issuing of four million USD [...]

March 10th, 2016 | Posted in Business & Economics | Read More »

Banking sector reports its first deficit

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By B.KHASH-ERDENE The Mongolian banking sector recorded a net loss in January 2016, for the first deficit in its history. The President of the Mongolian Banking Association, O.Orkhon, gave an interview about current banking sector conditions. Can it be said that the banking sector is facing difficult conditions? Active quality and loan issuance at banks [...]

March 4th, 2016 | Posted in Business & Economics | Read More »

Japan’s Marubeni wins Tavan Tolgoi Power Plant investment tender

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By B.KHASH-ERDENE Japan’s Marubeni Corporation has won the Tavan Tolgoi Power Plant project tender, according to the Mongolian government website zasag.mn. The Tavan Tolgoi Power Plant project committee met on February 28 and selected Marubeni Corporation to undertake investment in the power plant. Marubeni is a leading energy sector company that manages and operates power [...]

March 2nd, 2016 | Posted in Business & Economics | Read More »

Economists review political and economic conditions of Mongolia

During the AmCham meeting with industry experts and analysts

By B.KHASH-ERDENE The focus of the American Chamber of Commerce in Mongolia’s (AmCham) February Monthly Meeting held last week was Mongolia’s current economy, politics, and business environment. Economists, business delegates, and analysts discussed Mongolia’s current economic issues, political environment before the election, and factors that will impact private business operators, during the meeting. Economist and [...]

February 28th, 2016 | Posted in Business & Economics | Read More »

Transparent Mining reports on January performance and changes to the sector

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By Ch.KHALIUN The Ministry of Mining held its regular Transparent Mining meeting on Wednesday, presenting the sector’s statistics for January 2016 and reporting on new changes made to the sector’s regulations. During the meeting, State Secretary of the Mining Ministry D.Artag reported that Mongolia exported 139,700 tons of copper concentrate, 475,200 tons of iron ore, [...]

February 26th, 2016 | Posted in Business & Economics | Read More »

Nearly 35 trillion MNT in income and assets uncovered under economic transparency law

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By Ch.KHALIUN Yesterday, Finance Minister B.Bolor and Head of the Customs and Taxation Department (CTD) S.Purev held a press conference to announce that a total of 34.7 trillion MNT in income and assets became transparent under enforcement of the Law on Economic Transparency, which ended on February 20. They underlined that 8.3 trillion MNT was [...]

February 26th, 2016 | Posted in Business & Economics,Онцлох мэдээлэл | Read More »

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  • 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...