April 24, 2018

Foreign Minister of India to Visit Mongolia


For the first time since 1976, the Minister of External Affairs of India Sushma Swaraj will be paying an official visit to Mongolia April 24-26 at the invitation of her Mongolian counterpart, Minister D. Tsogtbaatar. The ministers will participate in the 6th joint-committee meeting to exchange views on bilateral relations, future cooperation, along with international and regional affairs. In efforts to strengthen the strategic cooperation with India as part of the third neighbor policy, further issues regarding the development of bilateral political, security, defense, trade, economic, education and cultural collaboration will also be discussed. Minister Sushma Swaraj will pay courtesy calls to the President, Kh. Battulga, Speaker of the Parliament M. Enkhbold and Prime Minister U. Khurelsukh.  

Keywords: Foreign relations, India, third neighbor policy   The Century News /page 2/

Mongolia to Attend ECOSOS Forum at U.N.


Mongolian delegates, led by the Ministry of Finance Ch. Khurelbaatar, are paying a visit to the U.S.  As part of the visit, the officials will be participating in the forum of the United Nations Economic and Social Council /ECOSOS/ at UN headquarter in New York City. Ministers of finance, foreign affairs, and development departments, as well as UN officials and representatives from various international organizations convene at the forum annually. It is expected this year’s forum will ensure the successful implementation of “Sustainable Development 2030”, contribute to a more accurate definition of the program’s scope, prospective financing solutions, and expand cooperation within development financing. As a part of this delegation, Minister Ch. Khurelbaatar will meet the acting CEO of the Millennium Development Cooperation, Jonathan Nash, and discussed the grant-in-aid of 350 million USD to Mongolia. This grant will be directed toward increasing sustainable drinking water sources and improving water purification. 

Keywords: U.N., U.S., foreign affairs, water, sustainable development, infrastructure   The National Post /page 2/ 


TOP 100 Companies Dramatically Increase Revenues


The National Statistical Office reported that corporate income tax revenue generated in the first quarter of 2018 came to 233 billion MNT, an increase of 13 percent compared to the same period in 2017. During the economic crisis in 2016, the corporate income tax revenue was 3.5 times lower than the current indicator. Foreign direct investment to Mongolia has increased due to commodity price hikes and intensification of construction projects. The expansion in export volume also helped to increase revenue. The top 100 companies in Mongolia earned a net profit of 269.89 billion MNT, an 81.4 percent increase compared to 2016; gross losses decreased by 54 percent. The companies are raising their financial outlook accordingly in 2018.               

Keywords: economic recovery, private sector development, corporate tax, construction, export   The Official Gazette /page 1/

online story  

Fluorspar Exports Double


Mongolia’s export of fluorspar doubled in the first quarter of 2018, reaching 25 million USD. The main exports were to the PRC and Russian Federation. The price per ton of unconcentrated fluorspar amounts to 75-92 USD and 92-97 USD for concentrated fluorspar. The Minister of Mining and Heavy Industry has set up a task force to prepare additional proposals based on analyses of the fluorspar industry extraction and exports. Task force members met with industry representatives last week, and both sides agree that proper policies regarding fluorspar will help increase the value of the mineral.

Keywords: fluorspar, export, mineral, mining sector

Facebook Twitter LinkedIn Website

This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia