We are excited to announce that Norcons LLC is a SME member of EuroChamber.
Norcons LLC is a construction company specializing in engineering facilities, procurement, and construction management in Mongolia. The company has successfully completed several domestic and international engineering projects in collaboration with our clients. Norcons LLC prioritizes client needs above all and is dedicated to fulfilling those requirements. The company welcomes the opportunity to earn clients' trust and deliver top-tier industry services. |
|
| EuroChamber Banking & Finance Working Group Meeting | | How to raise funds from the capital market? | 
| Aug 13, 2024
(10:00 - 12:00)
(GMT+8) |
|
|
| 
| Financial Regulator...
Ulaanbaatar city, Mongolia |
|
|
| EuroChamber Banking and Finance Working Group together with the Financial Regulatory Committee of Mongolia jointly hosting this meeting.
Subject: How to raise funds from the capital market? Speaker: Ninjin Altanbulag, Deputy Director, Securities Market Department of FRC
Date: August 13 Tuesday @10 A.M Location: Financial Regulatory Committee office
About EuroChamber Banking and Finance WG WG comprises of banks, non-financial banking institutions and insurance companies. Hot topics are trade financing, environmental assessments and insurance. The WG is chaired by Ms. Enkhzaya B., Director of Trade Finance Department, Golomt Bank, and co-chaired by Mr. Uuganbayar T., Vice President of Wholesale Banking, Khan Bank.
Please note that you have to bring your personal ID with you to get access to FRC building. | |
|
|
|
|
|
|
|
|  |
On 8 August 2024, in celebration of its 15th anniversary, Transwest Mongolia LLC, a Corporate plus member of EuroChamber Mongolia, launched its brand new Technical and Vocational Education and Training(TVET) Center, designed to train highly skilled professionals ready to compete on the global stage. This center also provides a comfortable and modern environment for students.
The "TVET Center" offers specialized training for engineers and technicians in heavy mining equipment, focusing on areas such as mechanics, electrical systems, welding, and lathe operations. Through the "Internship" program, students will gain hands-on experience, ensuring they are well-prepared to contribute to the continued success of Transwest Mongolia LLC.
With the opening of this training center, the company aims to cultivate a strong workforce capable of delivering top-quality services. "Through this significant investment, I am confident that Transwest will earn the trust of our Mongolian customers," said Kenichi Hiuga, Director of Sumitomo Corporation. |
| | Read More |
|
|
|  |
The "Miners' Festival" was held for the first time to celebrate the 30th anniversary of the Mongolian National Mining Association(MNMA).
The event was inaugurated by Minister of Industry and Mineral Resources, Tuvaan Tsevegdorj, who highlighted the government's commitment to advancing the mining sector. He stated that the coalition government, formed after the 2024 parliamentary elections, will prioritize the industrialization of the mining sector, focusing on the extraction, processing, and commercialization of mineral resources as final products. The government aims to establish clear targets and emphasized its dedication to enhancing geological exploration and research. Minister Tuvaan Ts. also assured the stability of the sector's legal framework, the creation of favorable conditions for foreign investors, and consistent government support for private enterprises engaged in production.
Former President Ochirbat Punsalmaa highlighted the growth of the mining industry and the Association's role in producing internationally standardized goods. The Director of Erdenet Mining Corporation SOE, Yondon Gelen, congratulated the mining sector on this milestone.
Founded in 1994, the Mongolian National Mining Association has played a pivotal role in the nation's economy. Today, the mineral sector alone contributes 25% of Mongolia's GDP, over 70% of foreign direct investment, 70% of industrial output, approximately 30% of tax revenue for the unified budget, and more than 90% of total exports.
At the "Miners' Festival," over 300 guests from 40 industry organizations attended the event. EuroChamber participated as a media partner, promoting the upcoming MinePro 2024 exhibition.
Source: mining.mn |
| | Read More |
|
|
|  |
On August 4, 2024, the Bank of Inner Mongolia hosted “Effectively linking financial and investment discount policies, expanding the open policy towards Mongolia” meeting in Erlian City, Inner Mongolia. Golomt Bank was cordially invited to this event and signed a “Memorandum of Strategic Cooperation” with Bank of Inner Mongolia, with mutual agreement to renew trade finance cooperation.
A three-party symposium featuring Chinese government agencies, commercial banks from China and Mongolia, and representatives of enterprises was conducted after the signing ceremony. The discussions focused on cross-border settlements and foreign investment within the legal framework. During the discussion, B. Sugar-Erdene, Head of Corporate Banking Division, noted, “Golomt Bank consistently offers its clients professional products and services with safe and flexible terms. With the signing of this memorandum, international trade business enterprises will be able to obtain trade finance services under more favorable conditions suitable for their businesses.”
In 2023, Golomt Bank maintained a leading position in trade finance services, holding a market share of 68.5% in terms of foreign guarantees and letters of credit by amount. The bank has solidified its international relationships with development financial institutions such as IFC and ADB, as well as Chinese partners like the Industrial and Commercial Bank of China /ICBC/, Agricultural Bank of China /ABC/, Mengshang Bank, and 250 other partners worldwide.
Source: golomtbank.com |
| | Read More |
|
|
| In July 2024, the Bank of Mongolia purchased 1,514.7 kg of precious metals. The total amount purchased since the beginning of the year has reached 9.3 tons, a 9.5 percent increase compared to the same period of last year.
Since the beginning of the year, the central bank branch in Darkhan-Uul aimag purchased 335.2 kg, while the branch in Bayankhongor aimag purchased 688.8 kg of precious metals.
The Central Bank of Mongolia determines the purchase price of precious metals based on global market prices. In July 2024, the average price for purchasing gold was MNT 259,674.50.
Source: montsame.mn |
| | Read More |
|
|
| Summary of events for the week of August 12-18, 2024. - August 12-13: The Mongolia-Singapore Business Forum will be held at the National Chamber for Commerce and Industry of Mongolia.
- August 13: Business Forum for trade, economy, and investment between Mongolia and the Liaoning province of the People’s Republic of China will be held at the Kempinski Hotel.
- August 16-18: The “Nuudelchin Festival” will be held at the hillside of the Taij Khairkhan Mountain in Nalaikh district, Ulaanbaatar.
- August 15-18: The 10th Conference of the Asian Concrete Federation will be held in Mongolia for the first time.
- August 17: “This Moment” live music concert will be held at the Central Stadium of Mongolia.
- August 17: The “Jah Khalib Mongolia-2024” music concert will be held at Hit Park.
Source: montsame.mn |
| | Read More |
|
|
Newsletter sponsorship is available now!
Mail to communications@eurochamber.mnfor inquiry. |
|
Copyright (C) 2024 EuroChamber. All rights reserved. |
|
|
