Japan's Minister for Economic Cooperation with Russia, Hiroshige Seko, and Russia's First Deputy Prime Minister Igor Shuvalov have agreed on revising a work program for Abe's 8-point economic plan. They will release a joint statement.

The revised one will include projects such as building a preventive medicine and diagnostic center and boosting support for neonatal care.

The 29 agreements and memoranda of understanding will be made at the government, corporate and other levels. The signings are timed to coincide with the latest summit between Abe and Russian President Vladimir Putin.

Japan's land ministry and Russia's construction and housing ministry will sign a memorandum to increase cooperation in creating a comfortable urban environment.

The authorities of Japan's Yamaguchi Prefecture and Russia's Krasnodar region will strike a deal to encourage cooperation in culture, tourism and other areas.

A Japanese trading company and a Russian pharmaceutical firm will ink a stock transfer contract to form a capital tie-up.

The increase in revenue is linked to a 53.4 percent increase in the number of domestic travellers. In the first quarter of 2017, a total of 64,600 passengers flew on domestic flights. International travel only increased by 2.2 percent, totalling 87,500 passengers.

As highlighted by the NSO, passenger baggage has been steadily declining, as evidenced by an annual amount of 635.8 tons of cargo transported. The volume of air shipments has been increasing, with an 18.2 percent increase to 70.3 tons compared to last year. NSO officials said that the volume of air shipments has risen each year.

Analysts have pointed to the increase in air cargo as a positive sign of development in the Mongolian aviation industry. As air travel becomes cheaper and the economy improves, the trajectory of growth appears to be sustainable. The largest aviation company in the nation, MIAT, has been working to increase their routes, with new direct flights to Busan in South Korea, and Bangkok in Thailand, being offered in June 2017.

National copper mine Erdenet Mining Corporation led the 2016 list of Top Businesses, to be followed by Oyu Tolgoi LLC, Khan Bank, Trade and Development Bank, NIK LLC, XacBank, APU Trading, State Bank, Golomt Bank and Mobicom Corporation for the leading spots.

“The 100 companies that have led the corporate sector in 2016 constitute more than half of tax revenue”, the Prime Minister added, congratulating the leading businesses on their growth and accomplishments of last year.

In his speech, the Prime Minister reiterated that his Cabinet strives to improve business environment, talking about the crucial role of cooperation between government and private sector in stimulating a pleasant business environment and adopting and promoting ideal corporate management and governance.

“The private sector in Mongolia has progressed over the last 20 years to stand firmly on its feet, yet there is always room for improvement and correction of mistakes”, Prime Minister J.Erdenebat noted. “Government and private sector share a same road which should lead Mongolia to a better future; thus, we need to join efforts effectively”.
Kh.Aminaa

B.Ooluun