September 3, 2018

President Kh. Battulga attends a school year opening ceremony in Tuv Province


On September 1, President Kh. Battulga attended a ceremony for the operning of the academic year at the secondary school in Sergelen soum, Tuv Province. For the 2018-2019 academic year, five first-grade students were newly registered to attend the school. The school has 67 students but has the capacity for 320 students. The President stated, “Mongolia is divided into 21 provinces, with roughly 330 soums. Instead of talking not only about the development of Ulaanbaatar, we also need to focus our efforts on developing remote soums and improving citizens’ livelihoods.”

Keywords: President Kh. Battulga, education, rural areas   The Official Gazette /page 2/

Deputy Speaker of Parliament receives a Member of the National Assembly of Hungary


On August 31, Deputy Speaker of Parliament L. Enkh-Amgalan met with Member of the National Assembly of Hungary and Chairman of the Hungary-Mongolia Parliamentary Caucus Laszlo Horvath. During the meeting, Mr. Horváth reported that the Speaker of the National Assembly of Hungary is planning to pay a visit to Mongolia. He added that Hungary will increase the number of scholarships granted to Mongolian students and is willing to share expertise in food processing. Deputy Speaker L. Enkh-Amgalan said that high-level official visits will help strengthen bilateral economic and commercial relations between Mongolia and Hungary, as well as take parliamentary cooperation to a new level.

Keywords: Hungary, parliamentary cooperation, diplomatic relations   Daily News /page 5/

Fourth working group meeting between MoFA and the Government of Inner Mongolia held in Ulaanbaatar


The fourth meeting of the Ministry of Foreign Affairs of Mongolia and the Government of Inner Mongolia Autonomous Region of China working group was held last week in Ulaanbaatar. While State Secretary of the Ministry of Foreign Affairs D. Davaasuren led the Mongolian side, Vice Chairman of the Inner Mongolia Autonomous Region People's Government Ai Lihua headed the Inner Mongolian delegation. The sides agreed to establish a Mongolian trade center in Hohot, to co-organize the Mongolia-China Expo in 2019, and to actively collaborate to bring bilateral trade turnover up to 10 billion USD by 2020. The next working group meeting will be held in Hohot in 2020.

Keywords: China, Inner Mongolia Autonomous Region, bilateral relations, Ministry of Foreign Affairs   Today /page A2/

online story  

Weighted average interest rate for credit granted in MNT drops by 2.2 percent


The weighted average interest rate for consumer loans in tugrug has fallen by 2.2 percent, reaching 18.1 percent in July since the beginning of 2018, while the weighted average interest rate for corporate loans stood at 17.5 percent in July, a decrease of 0.5 percent during the reported period. The weighted average interest rate for savings, currently at 11.2 percent, has seen a decrease of 1.8 percent since the beginning of the year. Bank of Mongolia noted that a loose monetary policy has impacted savings rates, which, in turn, have contributed to the drop in credit interest rates.         

Keywords: commercial banks, credits, interest rates

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 15000 · Mongolia