1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Cabinet approves 100 million USD ADB project to reform the banking system www.theubpost.mn

 
Cabinet has reached an agreement with Asian Development Bank (ADB) to launch a 100 million USD project to implement the systemic reform of the banking system.
 
The project is called Reviving the Banking Sector, Enhancing Financial Stability. The project is being financed with a 15-year loan from the ADB, with no payment required from the Mongolian government for the first three years.
 
There will be 12 measures undertaken as part of the project, including the establishment of an asset management company to address the increasing amount of non-performing loans in the sector. Laws will be amended in order to ensure financial stability in the sector, and regulation and governance of commercial banks will be strengthened.
 
The amount of non-performing loans in the Mongolian banking system has significantly increased. As of 2016, the amount of non-performing loans had reached 1.7 trillion MNT, or 14.2 percent of all loans. The volume of non-performing loans in 2016 was the highest it has been in the past six years.
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Mongolian delegation meets Chancellor Merkel www.news.mn

 
A Mongolian delegation led by L.Bold, head of the Mongolian-German inter-parliamentary group has participated in the famous Hannover Messe, which is the world's largest industrial fair. During the event, which began on Monday 24th April, the German Chancellor received the Mongolian delegation and discussed cooperation issues. Angela Merkel has visited in Mongolia twice since becoming Chancellor of Germany.
 
Chancellor Merkel made a speech during the opening ceremony of Hanover fair, which attracts more than 6500 companies from 70 countries. The fair is showcasing that “Industry 4.0” — the industrial internet of things, or IIoT, transforming the way goods are manufactured and sold — is becoming a reality, creating cost savings and enhancing productivity.
 
Germany, together with the UK, is Mongolia's main trading partner in the European Union.
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French company to study possibility of solar plant at Auto Trade Complex www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ A study on possibility to establish solar power plant on an open parking area of the Auto Trade Complex will be conducted by “Akyo Energy” company of the French Republic.
Today, April 25, a memorandum of understanding was signed by Governor of the Capital and Mayor of Ulaanbaatar City S.Batbold, Chairman of Auto Trade Complex, local government-owned company O.Mungunshagai and a representative of the Akyo Energy Company.
The Akyo Energy Company, a renewable energy project developer and investor, will conduct the feasibility study of the project and if the study proves it is possible to establish solar power plant there, the parties will establish agreements on cooperation and long term land use.
“- We hope the project will be successful and become a model project. We are in need to make decisive steps in using solar energy for reduction of air pollution in the city” said Mayor S.Batbold.
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Brexit economy: living standards are falling as the snap election looms www.theguardian.com

 
The pound’s sharp fall since the Brexit vote and a mood of uncertainty among employers has hit household budgets, creating a tough economic backdrop for Theresa May’s snap election, a Guardian analysis shows.
 
The prime minister will be hoping the resilience seen in the UK economy will hold over the coming months now that she has called an election for this June. But the Guardian’s monthly tracker of economic news shows living standards are already falling as rising prices outpace meagre pay growth.
 
That bodes ill for an economy reliant on household spending and the latest indicators from Britain’s retail and leisure industries suggest they are feeling the effects of a tightening consumer squeeze. The export sector has failed to offset that domestic drag and GDP figures due this week are expected to show the economy slowed markedly at the start of this year.
 
Still, lending support to those who say May was right to call a vote sooner rather than later, unemployment remains low, the housing market is steady, stock markets are near record highs and business activity continues to rise – albeit at a slower pace.
 
The economy appears to have lost momentum but has comfortably avoided the recession some had predicted in the wake of the Brexit vote. Last week, the International Monetary Fund was forced to admit yet again that it had been too gloomy on the consequences of the Brexit vote as it revised up its UK growth forecast for the second time in three months.
 
Writing in the Guardian, Andrew Sentance, a former member of the Bank of England’s monetary policy committee, said support for the UK from a strong global economy was being offset by domestic pressures.
 
“There are two big themes which stand out from this month’s data, and they show the UK being pulled in opposite directions by the global economy and consumer spending,” said Sentance, a senior economic adviser at the consultancy PwC.
 
“We should expect the consumer slowdown to dominate the growth picture over the course of this year ... GDP growth figures for the first quarter released at the end of this week are likely to confirm that the UK economy is already slowing.”
 
To gauge the impact of the Brexit vote on a monthly basis, the Guardian has chosen eight economic indicators, along with the value of the pound and the performance of the FTSE.
 
The dashboard for April shows retail sales have dropped, inflation is at its highest for more than three years, wages are falling in real terms and Britain’s trade performance has deteriorated. But unemployment remains low, house prices continue to edge up and businesses are expanding. The deficit of the public finances fell over the last year and the government hit its borrowing target. But the public finances were worse than market expectations for the latest month.
 
Compared with economists’ forecasts, there was a worse-than-expected performance in three of the eight categories. Two were better than expected, with three as forecast.
 
Stock markets remain near record highs and the pound has been given a fillip by news of the election, with investors predicting the result will strengthen May’s position in Brexit negotiations with her EU counterparts.
 
But, compared with the day of last June’s referendum, the pound is still down 14% against the US dollar and 10% against the euro. That weakness is now making itself felt in the real economy as imports become more expensive and shoppers are paying higher prices for a whole range of goods and services, from food to fuel.
 
The pound effect has combined with higher global oil prices to lift inflation to a rate of 2.3% in February and March, above the Bank of England’s 2% target.
 
But while inflation is expected to climb higher, wage growth looks set to slow. Employers are grappling with higher costs that give them less leeway for pay rises and the government continues to implement a public sector pay freeze.
 
The latest official figures show workers were already worse off in real terms in February as pay rose 1.9% on the year but inflation stood at 2.3%. That pay weakness was despite Britain’s unemployment rate remaining at 4.7% – its joint lowest since 1975 – and continued reports of skills shortages.
 
Reflecting tighter household budgets, retail sales volumes suffered their biggest drop in seven years over the opening months of 2017, dragging on the overall economy rather than acting as a driver of growth as they usually do. In other signs of the strains on consumers, there has been an increase in borrowing on credit cards while a key measure of what households have available to save has hit a record low.
 
David Blanchflower, another former Bank of England policymaker, said consumer spending was being supported by people borrowing more and running down their savings but that could not last.
 
“Support for Brexit is likely to be driven by how the economy performs and whether living standards hold up and they aren’t,” said Blanchflower, professor of economics at Dartmouth College in the US.
 
“I am hoping for some good economic news next month. I didn’t see much of any this month.”
 
There have been upsides from a weaker pound, including an influx of foreign tourists splashing out in British shops, restaurants and hotels to take advantage of the relative strength in their own currencies. Exporters also report that the pound’s drop has made their goods and services more competitive in overseas markets but the latest official trade figures were weaker than expected.
 
That overseas boost was clear in a set of business surveys that are closely watched by investors and policymakers for early clues to GDP growth. But while activity has continued to expand according to those Markit/CIPS purchasing managers’ indices (PMIs), their compilers say there has been a change of pace since last year and that GDP growth likely slowed to 0.4% in the first quarter of 2017 from 0.7% in the final three months of 2016.
 
The first official snapshot of GDP growth in the opening months in the year is due on Friday and economists polled by Reuters also expect growth to slow to 0.4%.
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Mongolia to expand cooperation on conservation with Sweden www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Minister of Environment and Tourism D.Oyunkhorol met with Anna Lindstedt, Sweden’s Ambassador to Mongolia who is on a visit to Mongolia on April 24-27 for her Accreditation ceremony.
 
At the beginning of the meeting, the Minister talked about climate change effects in Mongolia, how the country strives to be ecologically sustainable and Mongolia’s ratification of the Paris Agreement. “Ulaanbaatar city was first planned for 500 thousand people, but 1.3 million people reside in the capital city now, leading to high levels of air and soil pollution”, Minister D.Oyunkhorol said.
 
She said that the Ministry was working towards diversifying and greening the mining-dependent economy of Mongolia, and therefore would like to exchange experience with Sweden in this area, and expand cooperation in environmental conservation and tourism.
 
For her part, Anna Lindstedt expressed readiness to work with the Mongolian Ministry which is prioritizing green development and tourism. “As Sweden’s Ambassador for Climate Change, I will be happy to connect the Ministry to related organizations and support your activities against climate change”, she said.
 
 
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MBD Business delegates are heading to Washington DC www.mongolianbusinessdatabase.com

 

MBD business delegates from different business sectors including mining, transportation, construction material and cashmere are heading to Washington DC for North America-Mongolia Business Council's 27th AGM and Investors Forum between 26-28 April.

Distinguished guests including Ms.J.Galt US Ambassador to Mongolia, Mr.B.Altangerel Mongolian Ambassador to USA, Mr.R.Altangerel Mongolian Ambassador to Canada and experts from Mongolia and North America will discuss the outlook for Asia policy under President Trump and prospects for renewed Mongolian economic growth. Eight US Ambassadors to Mongolia will share their views on three decades of US-Mongolia relations.

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Stock exchange weekly review (April 17-21) www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During the period between April 17 and 21, 2017, MSE conducted 5 trading sessions with a total value of MNT 24,523,399,191.85. The daily average trading valued at MNT 4.9 billion.
 
Stock trading:
2,103,889 shares of 43 listed companies with a total value of MNT 3,146,864,441.85 were traded. From the total amount, 1,869,321 shares of “Darkhan Selengiin Tsahilgaan Tugeeh Suljee” JSC’s were traded with a total value of MNT 2,998,390,884.
 
Government retail bonds trading:
230,000 government retail bonds with a total value of MNT 20,452,060,000 were traded through one trading session.
 
18,920 government retail bonds with a total value of MNT 1,848,949,500 were traded on secondary market through 7 trading sessions.
 
As of April 21, 2017, the market capitalization valued at MNT 1,492,287,054,233 and “MSE ALL” index increased by 0.14% to close at 838.88 units.
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Mongolia tourist arrivals reaches 76.6 thousand in first quarter of 2017 www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Mongolia’s Visitor Arrivals recorded 629.3 thousand persons in the first quarter of 2017 and 552.8 thousand of them were permanent residents. In relation to the data, Tourist Arrivals recorded 76.6 thousand, which is 12 percent of the Visitor Arrivals. According to the Ministry of Environment and Tourism, the number reached an all-time high of 475.8 thousand in 2012.
 
The People’s Republic of China still composes larger part of the Tourist Arrivals, followed by the Russian Federation, Japan and the Republic of Korea (ROK). Within the given time frame, a total of 23.1 thousand Chinese visitors arrived in Mongolia. The number of Russian visitor arrivals in Mongolia increased by 54.4 percent. Although the data shows an increasing result of 25 percent in Chinese visitor arrivals in Mongolia, the number of Hong Kong visitors decreased by 30.5 percent.
 
As for the Federal Republic of Germany, ROK and Japan, which are considered target markets for Mongolian travel and tourism industry, the data shows an increasing number of visitor arrivals compared to last year. According to the General Authority for Border Protection, a total of 45.1 percent of the total number of tourist arrivals since 2000 were from Europe, while 46.3 percent were from the Asia-Pacific region and 7.5 percent were from the Americas.
 
In the World Economic Forum’s Travel and Tourism Competitiveness Report of 2017, Mongolia’s rank fell behind 3 ranks, down to 102nd in the world. This would mean Mongolia’s travel and tourism environment is valued equal to that of Cambodia and Nepal. The report indicates the sector’s slowdown was due to poor quality of service, lack of planning and diversification in Mongolia.
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Domestic cement manufacturers have capacity to produce 4.3 million tons per year www.mongolia.gogo.mn

 
As of today, a total of seven cement manufacturers are operating in Mongolia with the capacity to produce 4.3 tons of cement per year.
In addition, "Ulgii cement" and "Ah shohoi" companies have commenced the construction of two cement factories in Bayan-Ulgii aimag. The construction process of these factories is at 40-80 percent.
Moreover, Hermes gahiur LLC get licensed to build cement factory based on limestone deposit which locates in Dornogobi aimag. However, the company completed only external infrastructure works and has not started the construction yet. As preliminary research, this cement factory will have the capacity to produce 150-200 thousand tons of cement per year, reports Ministry of Mining and Light Industry.
Meanwhile, cement manufacturers state that due to delayed mortgage lending process, the construction sector has halted which resulting a decrease in cement demand.
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GGGI Country Representative awarded Ministerial Certificate of Merit for advancing Mongolia’s Green Growth www.gggi.org

 
On April 21, GGGI’s Country Representative to Mongolia, Mr. Jon Lyons, was awarded the Environment Ministerial Certificate of Merit for outstanding contributions to Mongolia’s development and natural resource stewardship.
 
The Award was presented by H.E. Batbayar Tserendorj, Vice Minister for Environment and Tourism, together with key technical Director-level partners and GGGI’s country team.
 
This high-level award may be issued by Cabinet members to recognize outstanding contributions to the policy and development goals of a given sector. In Mongolia, the Ministry of Environment and Tourism is charged with leading the implementation of the National Green Development Policy, which forms the foundation of the country INDCs to the Paris Agreement on Climate Change.
 
“This award recognizes the outstanding collaboration and effective contributions to Green Development of GGGI in Mongolia under Mr. Lyons’ leadership,” said Vice Minister Batbayar. “The Ministry of Environment and Tourism looks forward to further deepening its collaboration with GGGI.”
 
The Ministry of Environment and Tourism is GGGI’s primary government counterpart in Mongolia, overseeing all technical and advisory services for green development implementation as well as participating as a Member in the GGGI Assembly.
 
 
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