Newsletters


Mongolia to Reform Law on Currency Settlement
July 6, 2018 by Jacob Blacklock

Click here to view the original newsletter! Bank of Mongolia is preparing to submit proposed amendments to the Law on Currency Settlements to Parliament. The amendments aim to make the currency market more transparent and closer to internationals standards. A discussion on the draft amendments was held by the Bank of Mongolia today. This would be the 20th amendment to
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Government Implements Plan to Raise Employment
June 22, 2018 by Jacob Blacklock

Click here to view the original Newsletter! The Cabinet of the government of Mongolia met this week and agreed to initiate new pilot projects with the goal to alleviate poverty. The specific poverty reduction proposals originated in the governmental action plan for 2016-2020 and seek to improve access to long-term sustainable employment throughout Mongolia. Foreign investment in a variety of economic
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Mongolia and Russia Discuss Economic Cooperation
June 8, 2018 by Jacob Blacklock

Click here to view the original Newsletter! Russian Minister of Industry and Trade, Denis Manturov met with Mongolian Prime Minister U.Khurelsukh this week discussing cross-border trade and economic links between Mongolia and it’s larger northern Neighbor. Trade volumes between the two countries in 2017 were increased 37% over 2016. 2018 is expected to see similar growth. A new railway agreement which will facilitate
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Mongolia Cabinet Approves Investment, Parliament Addresses Reform
May 25, 2018 by Jacob Blacklock

Click here to view the original newsletter! The Mongolian Cabinet this week formally embraced a new investment program for the years 2018 through 2021. The proposal was formulated based on recommendations from all government ministries. The program includes plans for development of large power plants, oil refinery and rail projects, which have all completed key feasibility study requirements. The planned rail
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Oil Refinery to Mark New Stage in Mongolia’s Development
May 18, 2018 by Jacob Blacklock

Click here to view the original Newsletter! Mongolia is close to achieving an economic development goal that will be a first in the country’s history. An oil refinery is expected to start operations in Mongolia by 2022. The refinery will help Mongolia refine crude oil that is pumped in Mongolia instead of
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ADB sees Mongolia Developing “Middle Income” Economy
May 11, 2018 by Jacob Blacklock

Click here to veiw the original Newsletter! The UB Post published an excellent interview this week with Amy Leung, the Asian Development Bank’s (ADB) Director General for East Asia. I encourage you to read the whole thing. In the interview Ms. Leung explains ADB operations and plans for Mongolia. According to the plan laid out by ADB, economic diversity is
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Mongolia’s “Three Pillar” Plan for Development
April 13, 2018 by Jacob Blacklock

Click here to view the original newsletter! Late last month the Mongolian Economic Forum held a “Uniting Power” session offering a vision of increased Public-Private Partnership (PPP) in investment. The forum included current government officials presenting details about Mongolia’s specific strategies and new policies for investment and development. An important part of the forum was an update on the “Three-Pillar Development
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Swiss Case Raises Issue of Corruption in Mongolia
March 30, 2018 by Jacob Blacklock

Click here to view the original newsletter! The Federal Supreme Court of Switzerland has upheld the seizure of USD 1.85 million held in Swiss bank accounts with connections to a former Mongolian Minister of Finance. The seized accounts are alleged to have sent 10 million USD in illegal payments to the former Minister. The seizure stems from an investigation by the
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Mining Leads as Mongolia Seeks to Diversify Economy
March 23, 2018 by Jacob Blacklock

Click here to view the original Newsletter! This month the Ministry of Mining and Heavy Industry hosts “Mongolian Minerals and Mining 2018” investment seminar, which will examine the state of the Mining industry in Mongolia and review specific opportunities in hopes of encouraging in new investment in Mining projects. The Ministry hopes to emphasis public and private partnerships which will contribute
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Registering 2/3rds of All Mongolians as Shareholders for a Single Company May be a Turning Point
March 9, 2018 by Jacob Blacklock

Click here to view the original newsletter! In 2012, Mongolia took the unique and possibly unprecedented step of distributing shares in Mining company Erdenes Tavan Tolgoi (Erdenes TT) to more than two thirds of Mongolian citizens (1,072 shares each). For several years since, the share ownership of many Mongolians has been “in name only” with these individuals not being able
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