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Daily NEWSWIRE
June 14, 2018
S P O N S O R 
Government

State-sanctioned tourism routes approved by Cabinet

Summary:

During its regular session on June 13, Cabinet approved state-sanctioned and cross-border tourism routes. The cross-country state-sanctioned tourism routes will be classified as the Main Tourism Route, Tea Road, Silk Road, and Ikh Tumen Gol. The regional routes will be known as Tourism Routes of the Provinces and Capital. In addition, a plan has been developed to improve tourism products and services and to ensure safety along the Main Tourism Route. Cabinet hopes to bring the number of tourists to one million and earn 1 billion USD from the industry by 2020. In order to achieve this goal, the number of tourists will need to increase by 30 percent, on average, each year. In 2017, 470,000 foreign visitors came to Mongolia, an increase of 14 percent compared to 2016.

Keywords: economic diversification, Ministry of Tourism   The Official Gazette /page 2/


Cabinet supports a loan agreement for a solid-waste recycling plant

Summary:

On June 13, Cabinet approved the submission to Parliament of a bill on establishing a loan agreement with the European Bank for Reconstruction and Development (EBRD). The Ulaanbaatar Solid Waste Modernization Project includes plans to build a construction and demolition waste facility at Moringiin Davaa. Furthermore, a consolidated tariff system for solid waste and construction and demolition waste management will be introduced. It is expected that improved waste management could reduce greenhouse gas emissions in Ulaanbaatar and more than 100,000 tons of construction waste could be recycled with the new plant in operation. EBRD has agreed to provide financing of 4.5 million EUR in grant aid and a 9.7 million EUR loan for the implementation of the project. The loan must be repaid within 15 years. ​

Keywords: EBRD, Cabinet, waste management   Daily News /page 2/


economy

Insurance companies’ assets grow by 17.4 percent in 2017

Summary:

On June 13, the Financial Regulatory Commission held a dialogue on the insurance sector’s challenges and solutions. During the dialogue, participants discussed accessible insurance, challenges in developing the insurance sector, and ways to overcome these challenges. In 2017, the combined assets of insurance companies reached 245 billion MNT, an increase of 17.4 percent year-over-year. As of the first quarter of 2018, the combined assets of insurance companies grew by five percent, totaling 258.3 billion MNT. During this time, insurance compensation stood at 11.8 billion MNT. Chairman of the Financial Regulatory Commission S. Davaasuren stated, “We have seen tangible progress in the sector over the last two years. However, there is the need to increase investment in the sector and expand the market further.” ​

Keywords: financial sector, FRC   Today /page B1/


online story  

MSE: 1.13 billion MNT in orders for 1.7 million shares of ERD received  

Summary:

Mongolian Stock Exchange (MSE) listed Erdene Resource Development’s IPO order placement concluded on June 13. According to a report from the MSE, orders for 1.7 million shares of ERD were placed, valued at 1.13 billion MNT. Secondary MSE trading of ERD stock will commence on June 18. Since being registered for dual-listing on the MSE, prices for ERD stock on the Toronto Stock Exchange have increased by 29 percent.​

Keywords: stock exchange, Erdene Resource Development   www.bloombergtv.mn​


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