NEWS
THE CORPORATE GOVERNANCE CODE WAS REVISED BY THE FINANCIAL REGULATORY COMMISSION

4/27/2022

The Corporate Governance Code has been revised and approved by the Financial Regulatory Commission (FRC) in March 2022 under the framework of the Strengthening Fiscal and Financial Stability Project. 

LEGAL REFORMS TO STRENGTHEN THE STABILITY OF THE FINANCIAL SECTOR AND STOCK MARKET

4/20/2022

The development of the new stock market in Mongolia, which was first established in 1990, has been accelerating in recent years, and the appropriate legal environment and government policies and regulations must be implemented promptly.

THE DRAFT LAW ON PUBLIC-PRIVATE PARTNERSHIPS

4/13/2022

It is essential to implement large projects sustainably in the long run based on private sector participation and investment. Hence, government measures, policies, and private sector initiatives are critical in long-term partnerships. 

ALMA KANANI, PRACTICE MANAGER IN THE EAST ASIA AND PACIFIC REGION, INTRODUCED THE PROJECT IMPLEMENTATION PROCESS

4/5/2022

Ms.Alma Kanani, Practice Manager for the East Asia Region of the World Bank, met the PIU staff on April 4, 2022 and reviewed the project implementation. During the meeting, the PIU presented the following updates:

THE REDEVELOPMENT OF THE GLASS ACCOUNT PORTAL IS UNDERWAY

3/30/2022

One of the main objectives of the Strengthening Fiscal and Financial Stability project and the Strengthening Governance in Mongolia project, jointly implemented by the Ministry of Finance of Mongolia, the European Union, and the World Bank, is to support the effective implementation of the Glass Account Law by improving the legal environment and revamping the Glass account portal.

SALARY TRANSACTIONS MADE VIA ELECTRONIC TRANSFER MEANS

3/23/2022

Under the objective of the Ministry of Finance to digitalize the Treasury transactions, the budget entities started to verify and make the salary transactions through the Integrated Payroll System (IPS).

THE NEW REVIVAL POLICY TO ENCOURAGE BIDDERS’ PARTICIPATION IN PUBLIC PROCUREMENT

3/16/2022

As part of the implementation of the Parliament Resolution No. 106 of 2021, whereby the “New Revival Policy” was adopted to intensify economic recovery amid the pandemic, the Public Procurement Law of Mongolia will be amended to minimize economic operators’ costs in participating in bidding procedures, to give additional preference to goods and products of small and medium enterprises, and to ensure effectiveness and clarity of the contract award, execution, and implementation procedures. 

THE PIU CONDUCTED THE FIRST QUARTERLY DISCUSSION ON THE PROJECT IMPLEMENTATION PROGRESS

3/14/2022

Project Implementing Unit of the Strengthening Fiscal and Financial Stability Project and the Strengthening Governance in Mongolia Project held a quarterly meeting with coordinating consultants and working group members from the implementing agencies on 11 March 2022.


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