AmCham Mongolia Daily Newswire

September 14, 2018

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Deputy Speaker attends the 2nd World Parliamentary Forum 
Deputy Speaker L. Enkh-Amgalan took part in the Executive Committee Meeting that was part of the second World Parliamentary Forum on Sustainable Development. The forum was held in Bali, Indonesia. During the committee meeting, participants discussed the draft of a document titled “Partnerships towards sustainable energies for all”, and decided on the main topic and content of next year’s meeting. The Deputy Speaker noted, “Mongolian Parliament established a specific committee on sustainable development goals to ensure their implementation. For 2019, it's timely to discuss the implementation of educational goals.”

The National Post /page 2/
Outstanding loans up by 20.2 percent
In August 2018, the total amount of outstanding loans in the banking system reached 15.9 trillion MNT, a year-on-year increase of 20.2 percent. Non-performing loans (NPLs) saw an increase of 16.8 percent over the last year, reaching 1.4 trillion MNT in total. According to the Bank of Mongolia, non-performing loans granted to companies in the mining, manufacturing, and construction sectors accounted for nearly 50 percent of all NPLs. Specifically, NPLs in the manufacturing and construction sectors have gone up since the middle of 2016. The BoM says it plans to implement a program to reduce non-performing assets.         

The Century News /page 5/
Minerals account for 84 percent of export earnings   
The National Statistical Office reported that minerals export revenue of 3.9 billion USD made up 84 percent of all export earnings in the first eight months of 2018. Coal export income totaled 1.8 billion USD (a 17 percent YOY increase), followed by copper concentrate exports at 1.3 billion USD (a 29 percent YOY increase), and crude oil exports were at 286.9 million USD (a 17 percent YOY increase) during the reporting period. In terms of volume, coal and copper concentrate exports were almost as same as that of 2017, while crude oil export volume declined by 14 percent during the reporting period.  
The Official Gazette /page 12/
Province assay laboratories to be established in October
The Bank of Mongolia announced that precious metal analysis and assay laboratories will be established in Darkhan-Uul and Bayankhongor provinces in October, a step encouraging the supply of gold from entities and individuals by providing easy access to analysis. The construction of the laboratories will cost a total of 793.8 million MNT, the majority of which will be spent on purchasing equipment and technology.
REWIND: Week of September 10, 2018
September 10
September 11
September 12
September 13
  • Law on Communications to be amendedNew amendments to the law have been drafted, specifying the role and responsibilities of the Communications Regulatory Commission, as well as regulatory frameworks supporting competition in the sector, with the aim of restricting monopoly pricing practices.
  • Cabinet discusses 2019 draft budgetIt was reported that the state's authorities will prioritize including budgets for the construction of schools and kindergartens, as well as air pollution reduction in 2019.
  • NSO reports on August social and economic data for Mongolia. The Social Insurance Fund saw a year-on-year increase in revenue of 150.4 billion MNT in August. Monetary supply equaled 17.4 trillion MNT by the end of August, an increase of 2.9 trillion MNT compared to August 2017. 
  • Second Daily Newspapers Forum to be held. The forum's attendees will focus on urging decision makers to define practical solutions and to create tangible results. 
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