AGP Executive Report
Last update: 10 hours agoInflation: Mongolia’s annual inflation rate reached 13.4% in October, up 4.2 percentage points from a year earlier, with food, transport and imported goods among the main drivers. Industrial Investment: China’s NFC was selected to build and operate a copper smelting and processing plant at Erdenet’s planned industrial park; contract talks are underway. Hunnu City: Infrastructure is advancing near Chinggis Khaan International Airport, including a commissioned power substation, rail links and fiber-optic cabling. The planned city is designed for 150,000 residents and 80,000 jobs. Mining Revenues: Oyu Tolgoi has told the government dividends are expected to begin in 2027; the company is also planning a MNT 3 trillion contribution to the state that year, in addition to taxes and royalties. Business Costs: Ulaanbaatar will halve its municipal tax on several services, including restaurants, hotels and car washes, from 2% to 1% starting January 1. Trade: Luda Technology Group signed a 1.05 million-tonne coal trading agreement with a Chinese company, while Mongolia and Belarus discussed follow-up steps to expand business ties and use their interim trade agreement.
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