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AmCham Mongolia Daily Newswire

November 27, 2018

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Budget Standing Committee supports the launch of a temporary SME committee
The Budget Standing Committee met last Friday and supported the launch of a temporary committee to research issues facing small and medium-sized enterprises(SMEs) and to produce proposals for actions to be taken. Member of Parliament Ts. Nyamdorj said that the committee should investigate the state’s 27 loan funds that were given to SMEs with connections to government officials.  

Today /page A2/
Currency exchange rate update
66 percent of Mongolian imports transactions are paid by USD, 12 percent is by CNY, an eighty percent is by JPY, 7.5 percent is by EUR, and six percent is by RUB. The rising USD exchange rate has been a critical issue in recent years. Although there have been external effects on Mongolia's economy from global market conditions, analysts have weighed in with what state authorities can do to keep exchange rates stable. Analysts have suggested supervising currency flow more carefully, reducing state expenditures, and maintaining political stability.

The National Post /page 5/
Japanese government releases a report on UB's clean water resources
The Japanese Embassy in Mongolia told Mongolian journalists that the Japanese government has been working on a study of Ulaanbaatar’s clean water supply system through the Gachuurt Source Project.  The project is being carried out to provide clean water to 390,000 households in ger district areas and 43,500 households in apartment buildings in Ulaanbaatar. The project looks at the potential supply available from wells in the Gachuurt area, which could produce up to 25,200 cubic meters of water per day. The Japanese government plans to cooperate more with Mongolian entrepreneurs in executing the project in the future. 
The National Post /page 8/
The number of Mongolian QPay users increases in 2018
The number of regular QPay users with 9 of Mongolia's commercial banks increased by 10 to 15 percent since last month, reaching 250,000 users, according to KKTT LLC. The government's 2019 Monetary Policy Guidelines call for the creation of reliable payment systems and the introduction of technological advances in the banking and financial sectors. According to the Bank of Mongolia, there are four million payments cards in the market, of which 2.9 million are linked to MNT accounts. Mongolia's commercial banks plan to improve security and introduce chips to card payment standards.
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