AmCham Mongolia Daily Newswire

September 10, 2018

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Deputy Prime Minister visits Erlian, China
Deputy Prime Minister U. Enkhtuvshin, the Cabinet member responsible for the matter of free-trade zones, visited Erlian in the People’s Republic of China to observe the ongoing construction and development of the Erlian Free-trade Zone, a 900 hectare area located one kilometer from Zamyn-Uud. Erlian's city authorities reported that 800 million CNY will be invested for the development of the free-trade zone by 2019. Since the signing of a memorandum of understanding during the Prime Minister’s visit to China in April, an agreement designed to expedite the process of establishing an economic cooperation zone based in Erlian and Zamyn-Uud, the two sides have been carrying out preparations to reach an official inter-governmental agreement.

Today /page A2/
Government’s foreign debt falls by 328 million USD in Q2'18  
The Bank of Mongolia (BoM) reported that the government’s foreign debt fell by 328 million USD in the second quarter of 2018, compared to the previous quarter, it's greatest drop over the last ten quarters. The government's aggregate debt increased by 898 million USD in the first half of the year, reaching 6.9 billion USD, compared to the same period in 2017. According to the BoM, there is no great amount of debt to be repaid this year, but in both 2022 and 2023, the government will have to repay more than 1.1 billion USD in foreign debt.

The National Post /page 5/
TerraCom earns 141.1 million USD in revenue
The stock price of Australian Stock Exchange-listed TerraCom Limited has risen by 17 percent since August, reaching 0.55 AUD per share. According to the company’s financial report for the first half of 2018, TerraCom earned 141.1 million USD in revenue. During the reporting period, TerraCom explored a total of 1.9 million tons of coal from its Baruun Noyon Uul mine in Mongolia and Australia’s Blair Athol mine. The Baruun Noyon Uul coal mine is located in Umnugobi Province.
The Official Gazette /page 12/
Balance of trade sees a surplus of 869.2 million USD as of August 2018  
In the first eight months of 2018, Mongolia’s foreign trade turnover totaled 8.47 billion USD, an increase of 23.6 percent (1.6 billion USD) compared to August 2017. The balance of trade saw a surplus of 869.2 million USD, with export valued at 4.67 billion USD and 3.8 billion USD in imports. Compared to August 2017, export increased by 13.9 percent (568.9 million USD), while import rose by nearly 38 percent (1.05 billion USD).
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