AmCham Daily Newswire

High-level government officials will not be permitted to have offshore accounts

Summary: On Wednesday, the cabinet discussed a draft amendment to the Law on Regulating and Combating Self-Interest , which will be presented to the Parliament for review. In the draft amendment, a provision is included to prohibit future candidates entering public positions and current public officials from having an offshore account, investing in an offshore account, or creating a legal entity under an offshore account.

Keywords: legal reform Today /page 1/

Former President of the Development Bank of Mongolia is being investigated by the Independent Authority Against Corruption

Summary: N. Munkhbat was employed as the President of the Development Bank and is currently under investigation by the Independent Authority Against Corruption for misusing 170 billion MNT from the Chinggis and Samurai Bonds in various transactions. The investigation started 2 years ago based on the suspicion that N. Munkhbat and B. Batbold, the President of the Street Project, were misusing funds from the bonds.

Keywords: corruption Today /page 1/

Representatives from 26 countries participated in the meeting Coordinating Council on Trans-Siberian Transportation

Summary: The Minister of Road and Transportation D. Ganbat, The Head of Ulaanbaatar Railway and Mongolian-Russian Joint Association L. Purevbaatar, The President of Russian Railways Association JSC O.V Belozerov, the Vice Chairman of the Chinese Railway Corp and 130 representatives from 26 countries participated in a high-level meeting organized by the Coordinating Council on Trans-Siberian Transportation. The meeting focused on increasing the involvement of the Ulaanbaatar Railway and Mongolian-Russian Joint Association, to expand the region’s economic involvement, and to increase the utilization of the railway for transport.
The Ulaanbaatar railway was built in 1949 and, due to its strategic location and being the main railway connecting the Republic of China and the Russian Federation, it has key strategic and geopolitical influence. Ulaanbaatar Railway has the capacity to transport 24-25 million tons of goods, and plans to implement technological advancements to increase the capacity to 34 million tons in 2016-2017, 48 million tons in 2020, and 76 tons in 2030. By increasing the capacity, companies who transport goods through the railway will set up offices in Mongolia, which will have positive effect on the development of the railway.

Keywords: railway, transportation The Century News /page 4/

Starting from October 1^st, the price of leather and sheepskin is set to rise

Summary: Due to the low price of animal hides, the income for herders has lowered. The price of sheepskin is 500 MNT, goatskin is 3,000 MNT and horse skin is 30,000 MNT. Since the approval of the Regulation of the Production of Leather Goods and Trade in 2013, which raises the standards for the production of leather goods thus limiting the number of exports, sheepskin has not been exported. In an effort to increase the incomes of herders, the Government decided to temporarily revoke the regulation from October 1, 2016 to August 1, 2017. Industry analysts claim that by revoking the regulation, the export of leather goods will be more profitable, thereby increasing the incomes of herders.

Keywords: leather www.ikon.mn

High-level government officials will not be permitted to have offshore accounts

Former President of the Development Bank of Mongolia is being investigated by the Independent Authority Against Corruption

Representatives from 26 countries participated in the meeting Coordinating Council on Trans-Siberian Transportation

Starting from October 1st, the price of leather and sheepskin is set to rise

Starting from October 1^st, the price of leather and sheepskin is set to rise