April 12, 2018

Council for regional development established


A council has been formed to develop policies on regional development and measures to reduce high concentration populations in urban areas. The council, consisting of scientists and experts on development, held its first meeting on April 11. The head of the Sector Development Policy Unit of the National Development Agency, D. Erdenebayar, stated, “Regional development policy was passed in 2001, but policy implementation has not been  adequate according to a situational analysis undertaken 17 years later. Hence, the development of policy reforms has commenced and a task force was set up.”

Keywords: rural development, policy and planning   The Century News /page 5/


ADB expects Mongolia’s economy to grow by 3.8 percent


Asian Development Bank released its “Asia Development Outlook” and a report from its Mongolia Resident Mission on April 11, presenting its 2018 to 2019 economic outlook for Mongolia and other Asian countries. Mongolia’s economy grew by 5.1 percent in 2017, but ADB analysts forecast that economic growth will stand at 3.8 percent in 2018, and 4.3 percent in 2019. Due to obstacles facing coal transportation, export volume is likely to be lower in 2018 compared to the previous year, slowing down GDP growth. 
The inflation rate is expected to reach eight percent in 2018 and seven percent in 2019. Because of anticipated fuel and food price increases in the international market in 2018, and the impact of loose monetary policy in 2017, it is projected that the inflation rate will rise. According to ADB's Asia Development Outlook, the Government of Mongolia’s budget deficit could total 6.4 percent in 2018, and 5.1 percent in 2019. The price decreases of coal and copper, the delay of the International Monetary Fund's extended fund facility program’s implementation, and disruptions to Oyu Tolgoi’s production and investment could negatively influence Mongolia's economic indicators.

Keywords: Asian Development Bank, GoM, economic growth   Today /page B1/

Ulaanbaatar Railway JSC's transport circulation keeps increasing


Ulaanbaatar Railway JSC provided transportation for 22.8 million tons of cargo in 2017, its highest-ever performance. The company hopes to bring its cargo transportation to 25 million tons in 2018. As of the first quarter of 2018, Ulaanbaatar Railway has transported a total of 6.17 million tons of cargo. Because Ulaanbaatar Railway offers the shortest route for  transportation between Asia and Europe, its transit cargo volume has been rapidly increasing since 2017. In the first three months of 2018, transit cargo saw an increase of 45.2 percent compared to the same period in 2017, reaching 789,300 tons. Transit transportation on its route from China to Russia increased by 73.2 percent, while transit transportation from Russia to China grew by 36.9 percent. These improvements for Ulaanbaatar Railway are positive for the company's economic outlook.

Keywords: transportation, transit, economic outlook   The National Post /6/

online story  

Gan Khiits JSC to distribute 24.2 million MNT in dividends


In 2017, Gan Khiits JSC produced 240 tons of steel products and saw sales revenue of 1.6 billion MNT. Despite the company's net loss in 2017, the Board of Directors made a decision to distribute dividends of 24.2 million MNT at 100 MNT per share. The company's stock price stands at 11,800 MNT, which is an increase of 20 percent compared to the same period last year. In 2018, the company is working to bring its sales revenue to 2.1 billion MNT.

Keywords: stock market, steel products

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