March 30, 2018

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Nagoya University to establish doctoral scholarships for Mongolian civil servants


Nagoya University in Japan has announced that it will establish a doctoral program scholarship for Mongolian civil servants. The curriculum for the new program will include both online and classroom learning, and will be specifically designed to give civil servants the opportunity to complete their doctoral studies with guidance from some of Japan's leading academics while they continue to work. The program will be  open to civil servants who have submitted a master’s degree thesis in English or who possess a high level of English language skill and are able to translate their master’s thesis into English. For more information about programs and projects led by Nagoya University, interested applicants should contact Nagoya University's  representative office in Mongolia.    

Keywords: Japan, GoM, foreign relations   Daily News /page 5/


IMF Board of Directors approves 30.55 million USD financing installment for Mongolia


On March 29, International Monetary Fund Resident Representative for Mongolia Neil Saker reported that the Board of Directors of the IMF completed their third review of Mongolia’s extended fund facility (EFF) program and approved the provision of 30.55 million USD in financing. Since Mongolia’s enrollment into the program, the Government of Mongolia has received a total of 152.79 million USD in loan financing. Within a year of implementing the EFF program, Mongolia’s GDP grew by 5.1 percent, foreign currency reserves doubled, the Mongolian foreign currency exchange rate stabilized, and the state's budget deficit was reduced by over 10 percent. Saker underlined that the Board of Directors is pleased with improvements to Mongolia's economic indicators, despite the fact that three main IMF recommendations for structural and budget reforms were cancelled. Saker said that the state's authorities should be careful in making policy decisions. The government's main focus should be directed at increasing budget income, conducting expenses efficiently, reducing loan interest rates, and keeping the inflation rate low. Increasing access to bank loans for SMEs and the agricultural sector will be beneficial to the economy. It was noted that the Board of Directors emphasized that consistent implementation of the EFF program will be important due to Mongolia's high national debt and over-dependence on minerals prices.

Keywords: International Monetary Fund, GoM, EFF   Today /page 1/

Packaging plant opened in Sukhbaatar Province

Summary: A new packaging plant with the capacity to produce up to 600 boxes a day was opened in Sukhbaatar Province with financing from the state's SME fund. Telmuun Gun LLC's packaging plant is the first of its kind to be opened outside of Ulaanbaatar. At the plant's opening ceremony, the director of the new plant, G. Gundsambuu said, “Local business owners now have access to packaging services at competitive prices within the close vicinity of their businesses.”

Keywords: rural development, industry, economic diversification   Today /D1/

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L. Purevsuren presents credentials to the Director-General of the WTO


New Permanent Representative from Mongolia to the World Trade Organization (WTO) Ambassador L. Purevsuren presented his credentials to WTO Director-General Roberto Azevedo. L. Purevsuren emphasized that the Government of Mongolia has been supporting multi-lateral trade and implementing liberal trade policies since joining the WTO in 1997. He also spoke about  the multilateral agreement on establishing an international research center on landlocked countries that was ratified in October 2017. Director-General Azevedo expressed support for moving forward on multilateral trade negotiations and wished the new permanent representative the best of luck in his future endeavors.    

Keywords: World Trade Organization, GoM

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia