May 24, 2018

Cabinet approves privatization of state-owned companies


During Cabinet’s regular session on May 23, cabinet members approved Parliament’s draft resolution on general guidelines for privatizing state properties from 2018 through 2020. State-owned energy, road, mining, finance, banking, information and communications companies will be fully or partially privatized. In specific, State Bank, the Mongolian Stock Exchange, MIAT Mongolian Airlines, Telecom Mongolia, Information and Communications Networking Company, the Mongolian Agricultural Commodity Exchange, Mongolian Securities Exchange, and 20 road maintenance companies operating in the provinces will be privatized. Shares of these companies will be traded through the Mongolian Stock Exchange. Privatization of the state's thermal power plants has been postponed for further review, due to the strategic importance of the power plants.

Keywords: GoM, MSE   Today /page A2/

Tavan Tolgoi-Zuunbayan railway to be built with a concession agreement


On May 23, Cabinet voted to build a railway connecting Tavan Tolgoi and Zuunbayan under a concession agreement. Zuunbayan Railway will be established and Mongolian Railway SOSC will own at least 51 percent of the new company. Officials hope that construction of the proposed railway will increase the transportation and export of mining and manufacturing products, as well as contribute to regional development. Chief of the Cabinet Secretariat G. Zandanshatar stated, “New railways will bring higher earnings so that the citizen's 1,072 shares will be actively circulated in the economy.”

Keywords: coal export, railways, Tavan Tolgoi, mining   Daily News /page 2/ 


More than 4,200 borrowers to receive mortgage loans


On May 23, the Bank of Mongolia spoke to the press about  mortgage loans. Since the beginning of 2018, financing of 139 billion MNT has been allocated to banks for mortgage loans. The central bank, in conjunction with the Government of Mongolia, plans to provide 312 billion MNT in mortgage loan financing in 2018, a decrease of 40 billion MNT compared to 2017. It is estimated that the number of borrowers will fall by 1,000 compared to 2017. As part of Mongolia’s enrollment in the International Monetary Fund’s extended fund facility program, the Bank of Mongolia has started financing mortgage loans from previously issued mortgage loan repayments.

Keywords: Bank of Mongolia, construction, urban development   The Official Gazette /page 11/

online story  

Parliament’s Legal Standing Committee supports Constitutional Court nominees


During its May 23rd session, Parliament's Legal Standing Committee discussed President Kh. Battulga’s nominations for three new members of the Constitutional Court of Mongolia. The committee approved the nomination of B. Buyandelger with an 84.6 percent vote, and the nominations of G. Tuulkhuu and Ts. Nanzaddorj with a 100 percent vote. The State Great Khural’s nomination for a member of the Constitutional Court was discussed, and Sh. Solongo received unanimous approval from the Legal Standing Committee. The committee’s decisions will be introduced during a regular session of Parliament.         

Keywords: judicial system, President Kh. Battulga

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