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The Ministry of Economy and Development has adopted its operational strategy, organizational restructuring program, structure, and staffing limits, and decided to establish a Foreign Investment and Foreign Trade Agency under the Ministry. The new agency will implement a lot of significant work, such
February 17, 2022 · 1 min read
The opening ceremony of the Oyu Tolgoi underground mining took place today. Mongolian Prime Minister, L.Oyun-Erdene and the CEO of Rio Tinto, Jacob Stauscholm attended the opening ceremony and they gave the first blast signal of the underground mine. 80% of the total reserves of the Oyu Tolgoi depos
January 25, 2022 · 1 min read
We interviewed Mr. Carl Krug, Senior private sector development expert to the EU-Trade Related Assistance to Mongolia (TRAM) Project, on the outcomes of the project and opportunities in the development of non-mining export. -Can you give us a brief information on the initial objectives of the EU-TRA
December 30, 2021 · 1 min read
Despite significant challenges facing Mongolia’s economic and financial markets amid the COVID-19 pandemic over the past years, market capitalization, trading volumes, and index, have all recently reached historically high levels. Market capitalization reached MNT 4.0 trillion last month, and
September 9, 2021 · 1 min read
Numerous business sectors have been hard-hit by the pandemic lockdowns, particularly services, restaurants, pubs, hairdressers, and gyms, but none were hit as hard as the tourism sector, which has seen almost no revenue since the beginning of the pandemic. The World Tourism Organization’s ( UNWTO )
July 5, 2021 · 1 min read
Abstract After the internet era, mobile usage became popular around the world providing a new solution for payment systems and an alternative for traditional financial services. Along with rapid development of fintechs, government and central banks are also making changes on some fiscal rules and re
May 10, 2021 · 1 min read
During the pandemic, one of the government’s decisions to support people and companies was discount of the electricity and heating payment due until July 1, 2021. The interview was with Mr. Sukhbaatar Ts., the Chairman of the Mongolian Energy Association, about whether this was the right decis
February 22, 2021 · 1 min read
The Mongolian Economy spoke with D.Enkhbat, a founder of Karakorum Digital Academy, about the technological development and digitalization process in Mongolia. -How would you describe the past progress of digitalization? For example, were digital services focused on reducing administrative costs rat
January 21, 2021 · 1 min read
Mongolian Economy magazine spoke with Iskander Azizov, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mongolia -Could you tell us about the key projects implemented by Russia and Mongolia at the moment? -The earliest and most important project is the Russian-Mongolian join
January 17, 2021 · 1 min read
Mongolian Economy Magazine spoke with B.Uugankhuu, CEO of Erdenes Asset Management LLC, about their operations and investment management. -Could you tell our readers about your company and its operations? -The vision of Erdenes Mongol LLC is “Managing assets, leading growth” which suggests that Erde
December 17, 2020 · 1 min read