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Daily NEWSWIRE
May 21, 2018
S P O N S O R S
Government

Summary:

During Parliament’s May 18th session, a draft of amendments to the law on supporting small and medium-sized enterprises (SMEs) was discussed. More than 800,000 people work for SMEs in Mongolia. As they need improved state policies and support, the proposed amendments were developed by a group of Parliament members led by J. Ganbaatar. According to the proposed amendments, SMEs will be permitted to apply for loans of up to 500 million MNT from the Small and Medium-sized Enterprise Development Fund, and apply for  loans of 500 million to 2.5 billion MNT from commercial banks with lower loan collateral requirements. Minister of Food, Agriculture and Light Industry B. Batzorig noted, “Corporate income tax for entities with annual revenue of up to 2.5 billion MNT would be set to one percent, regardless of their sectors, according to the proposed amendments. Additionally, these entities would be allowed to submit their financial statements once a year, not quarterly. The legal environment will be clarified.”       

Keywords: economic growth, Parliament   The Century News /page 2/


Minister of Foreign Affairs visits the U.S.

Summary:

Minister of Foreign Affairs D. Tsogtbaatar is paying an official visit to the U.S. As part of the visit, Minister Tsogtbaatar will meet with U.S. Secretary of State Mike Pompeo, members of the U.S. Congress, and other officials to discuss bilateral relations and collaboration. He will also participate in the second consultative meeting for U.S.-Mongolia economic policy discussions and will establish a final agreement between the Government of Mongolia and the Millennium Challenge Corporation for the signing of a Second Compact. The Foreign Minister will also be meeting with  representatives of American businesses that are interested in investing in Mongolia.

Keywords: MOFA, bilateral relations, MCC   Today /page A2/ 


ECONOMY

IMF staff team completes the fourth review of Mongolia’s EFF enrolment

Summary:

An International Monetary Fund (IMF) staff team led by Geoff Gottlieb visited Mongolia from May 2 through 17, to conduct the fourth review of Mongolia’s enrolment in an extended fund facility (EFF) program. As mentioned in the report for the fourth review, Mongolia's main economic objectives, such as continuing economic recovery, reducing budget deficits, and increasing foreign currency reserves, have been achieved. But IMF analysts warned about risks regarding commodity demands in the global market, delays for structural reforms, negative changes in the investment climate, and increased domestic expenditure. Geoff Gottlieb stated, “Accurate macro-economic policy combination with banking sector structural changes will help decrease loan interest rates gradually.” Based on the fourth review, the IMF’s Board of Directors will decide on further financing for Mongolia.

Keywords: International Monetary Fund, MoF, GoM   Today /page 1/


online story  

IPTV services made up 11.7% of communication sector revenue in 2017

Summary:

As of the end of 2017, the registered number of Internet Protocol television (IPTV) service consumers totaled more than 241,797, representing a year-to-year increase of 27.7 percent in demand. In 2017, IPTV services accounted for 11.7 percent of the total revenue in the communications sector. IPTV has become the second most popular area in the communications sector after mobile network services.

Keywords: Internet Protocol television, communications
 
  www.bloombergtv.mn


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