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Speaker of Parliament announces the removal of negative credit scores for 71,000 individuals and businesses
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Speaker of Parliament G. Zandanshatar announced that the negative credit history of 71,000 individuals and entities registered with the Bank of Mongolia will be erased.
The Speaker said that to overcome the economic difficulties caused by the pandemic, the government will support businesses in all aspects, removing barriers and improving legislation, which will also require involvement from the private sector.
It was also decided that a Trade and Industry Council will be established under the Office of the Speaker of Parliament, which will create an opportunity for businesses engaged in trade and industry to unite and submit their proposals to Parliament and Cabinet.
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45 percent of registered voters abroad voted in the presidential election
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The Mongolian presidential election is scheduled for June 9. For Mongolians living abroad, voting started on May 30, and 3,299 (45 percent) of 7,394 registered voters cast their ballots at 44 locations. Youth Control for Policy NGO said it would observe the polls in Tokyo, Seoul, and New York, marking the first time a non-governmental organization has registered to observe overseas voting.
In addition to those living abroad, domestic voters who are hospitalized or isolated due to COVID-19 will be able to cast their ballots with mobile ballot boxes.
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Total sales in trade increased by 18.9 percent YoY
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Total sales in the domestic trade sector reached 5.5 trillion MNT in the first quarter of 2021, increasing by 18.9 percent compared to Q1 2020. Wholesale trade accounted for 36.8 percent and retail trade made up 63.2 percent of sales. Wholesale revenue increased by 24.1 percent over the same period in 2020, while retail sales revenue increased by 16.1 percent.
Since the outbreak of COVID-19, there have been five strict lockdowns in place nationwide, and two lockdowns since the beginning of the year. During these lockdowns, trade in non-food products was restricted and a small number of industries were allowed to continue operations.
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19 million USD ADB package approved to support the rollout of COVID-19 vaccines in Mongolia
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Last week, Asian Development Bank (ADB) approved a loan package of 19 million USD for Mongolia to purchase safe and effective COVID-19 vaccines. The project is part of ADB’s 9 billion USD Asia-Pacific Vaccine Access Facility (APVAX), launched in December 2020 to offer rapid and equitable vaccine-related support to ADB’s developing member countries.
As COVID-19 emerged at the start of 2020, Mongolia responded quickly to avoid the rapid spread of the disease. However, community transmission emerged in November 2020, straining the healthcare system’s capacity. The economy was hard hit, shrinking by 5.3 percent in 2020, with official job losses reaching 63,900, or 5.4 percent of total employment. It is expected that COVID-19 will significantly increase the poverty rate, which was 28.4 percent in 2018.
The support for COVID-19 vaccine delivery in Mongolia under APVAX will procure vaccines to contribute to the government’s efforts to immunize at least 30 percent of the population, representing priority populations defined under Mongolia’s National Deployment and Vaccination Plan. These include individuals at high risk of death from COVID-19 infection and about 200,000 frontline workers. In addition, people living with disabilities, those who suffer from chronic diseases, and vulnerable groups requiring social assistance will benefit from the vaccine rollout.
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