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AmCham Mongolia Daily Newswire

January 23, 2019

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Minister Ts. Tsogzolmaa attends the Education World Forum
Minister of Education, Culture, Science and Sports Ts. Tsogzolmaa is attending the Education World Forum, which is taking place in Great Britain, discussing current challenges, solutions, achievements, experiences, international education policy, and future trends in education. Education ministers and representatives from an estimated 90 countries are attending the forum. Ministers in attendance emphasized the importance of digital learning and its future. Education officials stated that high global internet usage is challenging education systems to become more digital and technology based.

The Official Gazette /page 2/
Prime Minister U. Khurelsukh meets with UNFPA’s Naomi Kitahara
Prime Minister U. Khurelsukh met with United Nations Population Fund (UNFPA) Representative in Mongolia Naomi Kitahara. The Prime Minister emphasized her contributions to the government's cooperation with the UNFPA, and spoke about the UNFPA's work in population development, women and youth, and protecting public health. Kitahara praised the government’s achievements in gender equality, supporting women and teens,  and improving the quality of healthcare and access to healthcare services.

The Century News /page 2/
More Mongolian companies announce plans to distribute dividends in 2019
iTools and LendMN, who have recently released IPOs on the Mongolian Stock Exchange, announced that they would be distributing dividends after finalizing their financial reports. iTools released an IPO in November 2017, and earned 1.3 billion MNT. LendMN released an IPO in March 2018, and earned 5 billion MNT. LendMN's preliminary estimates show that the company’s net profit was 2.5 billion in 2018.
The Official Gazette /page 12/
Analysts expect the Mongolian economy to slow down in 2020
The Bank of Mongolia (BoM) emphasized that there is growing uncertainty concerning the increasing number of infrastructural and industrial projects and foreign direct investment in 2019. The BoM says that due to non-mining industry growth in 2020, the nation's economic growth is expected to slow down, even with the launch of an Erdenes Tavan Tolgoi IPO and the opening of the nation's first oil refinery. State spending is expected to rise in 2019, but the government expects the economy to grow due to tax reforms, increased foreign investment, higher wages, increased pensions, and the launch of the oil refinery. Many foreign economic analysts expect the economy to grow by 6 to 6.6 percent in 2019. According to an assessment conducted by the International Monetary Fund, the BoM should tighten its monetary policy due to domestic demand for foreign currency. The World Bank announced that significant challenges to Mongolia's economy this year will be Chinese coal export policies, political instability, and the 2020 election’s effect on mega projects.
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