Mongolia’s annual inflation rate fell to 12.3 percent in January by 0.9 percent from previous month.

The inflation rate in Mongolia peaked at 16.1 percent last June due to higher prices for imports. The figure has been gradually decreasing ever since.

There

The Mongolian government decided to establish an agency for investment and trade to attract more foreign investors.

The agency is committed to attracting foreign investment, protecting legal interests of investors, and developing trade in Mongolia

Mongolia is rich in natural resources, and

Parabellum Resources has flagged strong intersections of up to 4.1 percent total rare earth oxide (TREO) mineralisation from its 2022 drilling program at the Khotgor project in Mongolia. The core from three holes is being stored as whole core for

Starting from February, Mongolia’s largest state-owned coal enterprises, Erdenes-Tavantolgoi JSC, will stop signing direct sales agreement with Chinese buyers. Instead, the company’s coal will be auctioned on the Mongolia Stock Exchange, which will increase transparency and ultimately bring higher returns

BC Card, the financial services wing of South Korea’s major telecom company KT, will work with the central bank of Mongolia to establish a payment linkage system between South Korea and Mongolia. Mongolians can use their national payment system using

Mongolia has asked Rio Tinto, its partner in the huge Oyu Tolgoi copper and gold mine in the Gobi desert, not to further increase its estimated USD 7.06 billion budget for the project’s expansion, its mining minister told Reuters.

The two

South Korean telecommunications giant KT Corp signed a partnership deal with the Mongolian government to secure a stable supply of some 80 kinds of mineral resources, including rare earth elements.

Under the agreement, KT laid a stable foundation for preferentially supplying

In 2022, Mongolia traded with 160 countries. The total trade turnover reached USD 21.2 billion; exports amounted to USD 12.5 billion and imports to USD 8.7 billion.

The total foreign trade turnover increased by USD 5.2 billion (32.1%). Exports increased by