CABINET CONSIDERS TAX EXEMPTIONS ON MONGOLIA-AUSTRIA PROJECTS

Ulaanbaatar /MONTSAME/ The Cabinet at its meeting on December 10 decided to present a draft law to parliament on allowing tax exemption for materials required for certain projects to be funded by Austrian government loans. An agreement has been established by the Governments of Mongolia and Austria on November 18 of 2011 to co-implement several programs and projects. In a scope of this agreement, an easy-term loan of EUR 40 million will be provided by the Austrian government for joint implementation of large programs on infrastructure, education, health and social care. The agreement’s financial plan outlines the activities such as renovations of medical equipment of the National Center for Oncology, the National Health Center for Mothers and Children and of the Hospital for Government Special Services, and introducing a excavation-free technologies to renovate the drinking and waste water pipes of Ulaanbaatar, as well as improving the fire-fighting technical capacity of the Emergency services. The cabinet also decided to assign to the Mongolian Ambassador to Austria G.Batjargal the right to sign the extension of Export Credit Agreement for the projects to be implemented. The cabinet meeting concludes that modernizing the medical and diagnostic instruments of the large state hospitals will assist chemo-treatments, microsurgery and organ transplants, diagnostic cardiac catheterization, and hemodialysis treatments in Mongolia to satisfy the international standards.