August 10, 2018

Foreign Minister meets with the World Bank Country Director for Mongolia


Minister of Foreign Affairs, D. Tsogtbaatar met with the World Bank Country Director for Mongolia, China, and Korea, Bert Hofman. During the meeting, the Foreign Minister reported on state policies and actions being adopted to intensify the economic recovery andstabilize the investment climate as well as boost exports. Country Director for Mongolia Bert Hofman noted that the World Bank is ready to support Mongolia’s export initiatives and facilitate foreign trade by collaborating closely with the Ministry of Foreign Affairs.           

Keywords: World Bank, MoFA, export, foreign trade   Today /page A2/


Foreign trade turnover rises as of July


In the first seven months of 2018, the foreign trade turnover amounted to 7.4 billion USD, an increase of 26 percent (1.5 billion USD) compared to the same period in 2017. The balance of trade totaled 851 million USD with exports worth 4.1 billion USD and imports valued at nearly 3.3 billion USD. According to data, a monetary value of the exports went up by 16.9 percent while the imports grew by 39.8 percent compared to July 2017. Mineral products, machinery, equipment, automobiles and parts, food products and base metals compose the majority of Mongolia’s import.    

Keywords: export surplus, economic growth   The National Post /page 8/

MIK Holding earns 30.8 billion MNT in profit


The Mongolian Stock Exchange listed MIK Holding, Mongolian Mortgage Corporation HFC, released its first half financial report for 2018. In the first six months of 2018, MIK earned 115.6 billion MNT from interest revenue, while spending 68.8 billion MNT on interest expenses, thus bringing the net profit to 30.8 billion MNT. Compared to the same period in 2017, the company’s revenue grew by 12.1 billion MNT (11.7), though the net profit fell by 5.3 billion MNT (14.7 percent).        

Keywords: Mongolian Mortgage Corporation, mortgage loans   Today /page B1/

online story  

Flood-affected 187 households in Khovd aimag receive Red Cross aid  


Authorities estimated that more than 600 households in Jargalant soum of Khovd Province were affected to some extent by the July flooding. . In response to a request by the Governor of Khovd Province, experts from the Mongolian Red Cross Society made an on-site visit to the flood-affected area in Khovd aimag and provided financial assistance of 240,300 MNT to 187 households, with the total monetary aid amounting to 45 million MNT. Besides the financial assistance, the Red Cross distributed hygiene kits worth a total of 25 million MNT among affected households.

Keywords: flooding, disaster management

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