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AmCham Mongolia Daily Newswire

March 14, 2019

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L. Oyun-Erdene to resolve transportation issues for enhanced briquettes
Head of the Cabinet Secretariat L. Oyun-Erdene met with the government's air and soil pollution reduction working group on Wednesday. Director of Tavan Tolgoi Tulsh M. Ganbaatar spoke about transportation concerns that have arisen regarding the transportation of raw coal from the mining site to an enhanced briquette facility, which has the potential to produce 800,000 tons of briquettes annually. L. Oyun-Erdene said that the problem should be resolved as soon as possible. The working group also requested a definition of their duties, to expand their operations, and to add more inspection staff and police to enforce Ulaanbaatar's coal ban scheduled to start in May. L. Oyun-Erdene asked the group to have medium and long-term plans with well-defined targets and responsibilities. 

Today /page A2/
Stock concentration is high on the MSE
The Mongolian Stock Exchange (MSE) reported that 25 percent or more of the shares of 39 out of 197 companies listed belong to small shareholders. High stock concentration is evident in 80 percent of JSC stock holdings. Companies that have been registered since 2017 have offered more than 25 percent of their shares to the public, which has helped to decrease the concentration of stock holdings. The MSE and the Financial Regulatory Commission have spoken about the need to decrease stock concentration and will require that listed companies to increase their number of small shareholders by the second half of 2019.

The Official Gazette /page 11/
AmCham Mongolia’s March Monthly Meeting held
The American Chamber of Commerce in Mongolia (AmCham Mongolia) hosted Ulaan Chultem, the Minister of Food, Agriculture and Light Industry for its March Monthly Meeting on Tuesday, March 12, at Shangri-la Hotel Ulaanbaatar. AmCham Mongolia members, foreign organization representatives, investors, and ministry officials attended the meeting and discussed policy reforms in the food and agriculture sector, as well as the industry’s priorities for diversifying the Mongolian economy. Minister Ch. Ulaan gave an effective and productive presentation on various topics, followed by a question and answer session. Minister Ch. Ulaan emphasized the importance of processing raw materials to agricultural products and improving livestock health, which will also increase exports, and noted that the ministry is working on various projects to expand agricultural products.
Daily News /page 4/
The BoM cut its deficit by 1.2 trillion MNT in 2018
The Bank of Mongolia (BoM) reported that it cut its deficit by 1.2 trillion MNT in 2018. The BoM’s treasury and real estate assets were evaluated by an independent evaluation organization. According to the evaluation, the BoM earned 170 billion MNT in profit in the past two years. The cumulative loss of the BoM exceeded 3 trillion MNT in 2016. Long-term deficits negatively impacted the central bank's financial independence, monetary policy, and inflation rate. The BoM’s treasury held 1 trillion MNT in 2018 and had 22 tons of gold and 3.6 billion USD for the foreign currency reserve, which has helped to reduce the deficit in 2018.
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