At the initiative of Asian foundation and with collaboration of NGO Responsible mining serial discussions on use of natural resources are held each month. Dr.David Mallighan, Ph.D. N.Norov, Director of Atomic studies center of NUM, and others attended the discussion, sharing views on how effective and useful would uranium ore mining be. (more…)
At the initiative of the World Bank organized “Economic policy” forum in Mongolia. The event coincides with discussions of important economic issues including the Cabinet action plan for four coming years, draft budget and monetary policy.
Q: How do you view the final outcome of the forum? Did you define ways to overcome Mongolia’s crisis with less loss? (more…)
Prime Minister S.Bayar exchanged points of view with Kazakhstan Prime Minister Masimov.K.K regarding the deepening of relationship of two countries and cooperation in investment, while attending the meeting of Prime Ministers of Shanghai Cooperation Organization, held at Astana Kazakhstan.
One of the main topic was to import crude oil from Kazakhstan. Prime Minister S.Bayar proposed President Nazarbayev to import up to 1.5 million tons of crude oil from Kazakhstan and Kazakh side received with great appreciation. Prime Minister held negotiation on MOU with Kazakhstan side regarding importing crude oil and oil products from Kazakhstan and General Mr. Sodbileg, the General Director of Monoilgas and Mr. Kabaldin, General Director of “Kazmunaigas” signed in the MOU. (more…)
(31-10-2008)
Mongolian President Nambaryn Enkhbayar greets President Nguyen Minh Triet in the capital Ulaanbaatar. — VNA/VNS Photo Nguyen Khang
Vietnamese and Mongolian presidents witness the signing of a memorandum of undertanding on economic co-operation between Viet Nam’s Industry and Trade Ministry and Mongolia’s Ministry of Foreign Affairs and Trade. — VNA/VNS Nguyen Khang
ULAANBAATAR — Viet Nam and Mongolia have not only agreed to strengthen their traditional friendship, but also to develop economic ties, which remain modest. (more…)
The presidents of Vietnam and Mongolia Thursday agreed to strengthen their traditional friendship and develop the scope of economic ties.
During talks between visiting Vietnamese President Nguyen Minh Triet and his Mongolian counterpart Nambaryn Enkhbayar in the capital of Ulaanbaatar, the leaders agreed the relationship between the two countries was still “modest.” (more…)
By Lucy Hornby
ULAN BATOR, Oct 28 (Reuters) - Mongolia’s cabinet on Tuesday authorised a capital injection into the nation’s commercial banks but will hold off implementing it for now, government officials said on Tuesday.
Former central bank governor O Chuluunbat said earlier on Tuesday that a rescue package of around $500 million could be ready as early as next week for the country’s pressured banks, which have struggled for months with a frozen mortgage market. (more…)
In recent years, under the joint efforts of Mongolia and the Republic of Korea, bilateral exchanges and cooperation in such fields as politics, trade, economy, culture and education have been growing continuously. On October 15-17, 2008, Mongolian Prime Minister Mr. S.Bayar paid an official visit to the Republic of Korea. Delegations from Anod bank accompanied the Prime Minister and Mr. L. Ulambayar, CEO of Anod bank, and Mr. Park Byung Sik, President of KCH Industry Development Co.,ltd, signed a Memorandum of Understanding (MOU) during the visit. (more…)
Chinese Premier Wen Jiabao (R) shakes hands with Sanj Bayar, prime minister of Mongolia, which is an Shanghai Cooperation Organization (SCO) observer, in Astana, capital of Kazakhstan, on Oct. 30, 2008. (Xinhua Photo)
ASTANA, Oct. 30 (Xinhua) — Chinese Premier Wen Jiabao said here Thursday that China will further enhance its cooperation with Mongolia amid dramatically changing international situation and the current global financial crisis.
On the sidelines of the 7th prime ministers’ meeting of the Shanghai Cooperation Organization (SCO), the Chinese premier met with Sanj Bayar, prime minister of Mongolia, which is an SCO observer. During the meeting, Wen hailed the continued development of the good- neighborly partnership between the two countries.
Both China and Mongolia are experiencing an important stage of development, and the two sides should strengthen communication and coordination in a bid to cope with challenges and lift China-Mongolia good-neighborly friendship to a new height, Wen said. (more…)
Economy Policy conference was jointly held by the Government of Mongolia and World Bank Resident Representative at the Government House of Mongolia. The main agenda of the conference was how to get through the crisis with the minimum loss and it was attended by the leading economists of the world and Mongolia. (more…)
Budget of two deputy ministers is not wasteful expense
Copper price decreased and globalised crisis. Banking sector is under huge challenge of getting through it. If Government withdraw its money from banks, some small banks might be collapsed and bankrupted.
Q: Copper price is decreasing. So, the election promises are vanishing?
S.Bayartsogt: Due to the copper price fall, we had to amend the budget project of 2009. Also the Mongolia Development Fund, based on the windfall 60% tax, will be decreased and children and new family money will be decreased accordingly. But “Grant of the Motherland” will be distributed after the realization of the major mining projects. Of course, if it will be distributed by cash, then it surely fuel up inflation. We decided to reconsider all the previously implemented welfare projects. We will take effective and optimal ones and drop out wasteful and ineffective ones. If we can do so, we can provide welfare. (more…)
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