1 CONSTRUCTION OF TAVANTOLGOI-GASHUUNSUKHAIT ROAD TO BE INTENSIFIED WWW.MONTSAME.MN PUBLISHED:2019/02/20      2 OVER 30 MEASURES PLANNED FOR REDUCTION OF ENVIRONMENTAL POLLUTION WWW.MONTSAME.MN PUBLISHED:2019/02/20      3 MONGOLIA SAYS IT EARNS OVER 169 MLN USD FROM COAL EXPORTS TO CHINA IN JAN WWW.HELLENICSHIPPINGNEWS.COM  PUBLISHED:2019/02/20      4 RUSSIA’S GAZPROM TO START CHINA GAS PIPELINE BY DECEMBER 1 WWW.RT.COM PUBLISHED:2019/02/20      5 MONGOLIA'S FOREIGN TRADE UP 41.6 PCT IN JAN. WWW.XINHUANET.COM PUBLISHED:2019/02/20      6 EIGHT COMPANIES ANNOUNCE TO DISBURSE DIVIDENDS SO FAR WWW.ZGM.MN PUBLISHED:2019/02/20      7 MONGOLIA'S PROSTITUTION ZONES, WHERE WOMEN TRADE SEX FOR FUEL IN SUB-ZERO TEMPERATURES WWW.TELEGRAPH.CO.UK PUBLISHED:2019/02/20      8 MONGOLIA TO SUSPEND KFC OUTLETS FOR INQUIRY AFTER FOOD POISONING REPORTS WWW.CNBC.COM PUBLISHED:2019/02/20      9 MIAT TO FLY BETWEEN ULAANBAATAR AND GUANGZHOU WWW.NEWS.MN PUBLISHED:2019/02/20      10 NEW BOOK ABOUT MONGOL EMPIRE’S IMPACT ON ISLAM WWW.NEWS.MN PUBLISHED:2019/02/20      УУХҮЯ: II САРЫН БАЙДЛААР НИЙТ НУТАГ ДЭВСГЭРИЙН 5.6 ХУВЬД АШИГТ МАЛТМАЛЫН ЛИЦЕНЗ ОЛГОСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/20     300 ОРТОЙ ТӨРӨХ ЭМНЭЛГИЙН БАРИЛГЫН АЖИЛ 80%-Д ХҮРЧ ГУРАВДУГААР САРЫН 1-НЭЭС ДУЛААНД ХОЛБОГДОХООР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/20     II/19-НИЙ ДОТОР 24 ХК НОГДОЛ АШИГ ОЛГОХТОЙ ХОЛБООТОЙ ШИЙДВЭРЭЭ ГАРГАЖ , СЗХ-НД ХҮРГҮҮЛСЭН БАЙНА WWWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/20     ӨНГӨРСӨН САРД 23.9 МЯНГАН ЖУУЛЧИН ХҮЛЭЭН АВЧЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/02/20     ЭРЧИМ ХҮЧНИЙ ИМПОРТ БУУРЧЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/02/20     ТАТВАР ТӨЛДӨГ 191 МЯНГАН ААН-Н 95.9 ХУВЬ НЬ БИЧИЛ БИЗНЕС ЭРХЭЛДЭГ WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/02/20     НИЙТ НУТГИЙН 70 ОРЧИМ ХУВЬ НЬ ЦАСТАЙ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/20     ХАНБОГД-ОЮУТОЛГОЙГ ХОЛБОСОН ЗАМЫН НЭЭЛТ БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2019/02/20     ЗГҮЦ-ЫН АНХДАГЧ ЗАХ ЗЭЭЛИЙН АРИЛЖАА МХБ-ИЙН ҮЙЛ АЖИЛЛАГААНЫ ОРЛОГО БУУРЧЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/19     “TEMASEK HOLDINGS” КОМПАНИ “TRQ” ДЭХ ЭЗЭМШЛИЙН ХУВИА 28 ХУВИАР БУУРУУЛАВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/19    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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US, Mongolia Air Forces Initiate Steps for Greater Engagement www.pacom.mil

JOINT BASE PEARL HARBOR-HICKAM, Hawaii -- U.S. and Mongolia air forces discussed opportunities for future engagement between the two services at a recent Land Forces Talks (LFT) in Ulaanbaatar, Mongolia March 26-28.

The Mongolian Air Force Command (AFC), a newly separated force of the Mongolian Armed Forces (MAF), requested Airman-to-Airman (A2A) talks with Pacific Air Forces (PACAF) to bring the two air forces closer together and strengthen their skills and relationships.

PACAF holds A2A talks with partner nations to discuss, plan and coordinate goals, objectives and activities for the next three to five years. The talks provide an avenue to develop interoperability, foster military-to-military relations and improve bilateral cooperation. PACAF currently participates in bilateral air force talks with 13 nations.

Maj. Christine Carr, PACAF Mongolia country director, represented PACAF at the LFT and spoke with the Mongolian AFC about the potential for future talks.

“It has been a unique experience to work with the newly separated air force as we work toward common objectives,” Carr said.

The MAF maintains an active role in world affairs focused on national defense, humanitarian aid and disaster relief, and peacekeeping operations. In support of the United Nations peacekeeper missions, they have deployed approximately 4,800 personnel in the last 13 years.

“The change [to an independent force] allows the air force to develop in the same manner as air forces of many other countries,” said Mongolian AFC Col. T. Ganbat, chief of operations. “Within a very short period of time, we could develop our relationship with air forces of other countries.”

Developing an air force is one of U.S. Pacific Command’s priorities for greater engagement with Mongolia, and part of the command’s overall goal to assist the Mongolian Armed Forces pursue their defense reform priorities.

“Mongolia endures as a small, yet strong, partner in Northeast Asia and continues to demonstrate staunch support for U.S. regional and global policy objectives,” said Adm. Harry Harris, PACOM commander in his written posture statement Feb. 14, 2018.

PACAF will send another delegation to Mongolia later this spring with the goal of formalizing the A2A Talks and hopefully scheduling the first meeting in 2019.

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EAM Sushma Swaraj to embark on 2-day visit to Mongolia from 25th April www.ddinews.gov.in

External Affairs Minister Sushma Swaraj will be on a two day visit to Mongolia from 25th of this month. This will be the first visit of Swaraj to Mongolia. The last visit of Indian External Affairs Minister to Mongolia was 42 years ago.

During her visit, Swaraj will co-chair the 6th round of India-Mongolia Joint Consultative Committee meeting, IMJCC, with Foreign Minister Tsogtbaatar, covering a range of issues including, inter alia, political, strategic, economic, educational and cultural ties. The last meeting of IMJCC was held in New Delhi in 2016.

During her visit, the Minister will also deliver the keynote address at the Kushok Bakula Birth Centenary Celebrations in Ulaanbaatar commemorating the birth anniversary of Late Venerable Kushok Bakula Rinpoche, a highly revered Buddhist leader and monk from Ladakh, India and a former Ambassador of India to Mongolia.

Bakula Rinpoche as the longest serving Indian Ambassador to Mongolia, made seminal contribution to promotion of India-Mongolia ties.

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Seven Mongolian truck drivers killed in South Gobi www.news.mn

Currently, over 8700 coal trucks from 104 enterprises are transporting coal on the 239 km road between the Tavan Tolgoi mine and the Gashuun Sukhait border crossing. Every day, between 400-1100 coal trucks enter China; the number depends on the speed of the border inspection at Gashuun Sukhait. However, queues from 20 to a record 140 km long queue of coal trucks have been occurring when capacity at the border is not able to meet the export demand. An unfortunate consequence of the queues has been dangerous driving by some of the truck drivers involving racing each other, speeding and using unauthorized roads.

In 2016, a total of 1596 accidents occurred involving the coal trucks: on road of coal transportation and five driver died in 2016; last year it decreased to 1000, however, seven drivers were killed.

On 18 April, the Mongolian Cabinet decided to establish the ‘Autostop Complex’ in the Khanbogs soum of the South Gobi, or Umnugobi, Province for dealing with the queue of coal trucks as well as caring for the health and safety of the drivers.

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Mongolia to receive technical assistance from China to save world's rarest bear www.xinhuanet.com

ULAN BATOR, April 18 (Xinhua) -- China and Mongolia signed an agreement here Wednesday on the implementation of the technical assistance project to save Mongolia's endangered Gobi bear (Mazaalai) and improve their range.

The agreement was signed by Sun Weiren, commercial counselor of the Chinese Embassy in Mongolia, and Gantomor Nyamdavaa, head of the Environment and Natural Resources Management Department at Mongolia's Ministry of Environment and Tourism.

The three-year project will be implemented from the beginning of this summer with a non-refundable aid of 110 million RMB (17.5 million U.S. dollars) from the Chinese government.

Due to lack of food, Mazaalai is currently the world's rarest bear, with only 28 Mazaalai bears left, according to a recent research. They mainly feed on roots, berries and sometimes rodents, but refuse to eat human-made substitute-plants.

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Bilateral cooperation plan signed www.gogo.mn

The general assembly of the Interregional Standardization Association /IRSA/ is being held in Ulaanbaatar from April 18-19. More than 40 delegations from Turkey, Mongolia, Azerbaijan, Georgia, Kyrgyzstan, Uzbekistan, Moldova, Kazakhstan, Ukraine and Belarus will participate in the general assembly.

During the meeting, the Chairman of the Mongolian Agency for Standardization and Metrology, G. Gantumur, and the President of Turkish Standards Institution /TSE/, Sebahittin Korkmaz, signed the bilateral cooperation plan, effective through 2022.

As part of the plan, both countries agreed to provide support for Mongolian businesses to export goods into the EU market, facilitate trade, reduce technology barriers, and plan to form a joint task force to monitor and develop standards in human resources. Deputy Minister U. Enkhtuvshin attended the ceremony and said, “It is critical to realize actual impacts of the plan soon and we can learn so much from Turkey’s expertise”.

Korkmaz noted, “Trade foundation is standardization. Our extensive cooperation in standardization could become a bridge connecting businesses.”

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Vendors advocate relocation of Zuun Ail market www.theubpost.mn

The Ulaanbaatar City Council recently decided to relocate Zuun Ail’s building materials market in progressive stages in an effort to reduce traffic around the area and improve the environment.

Statistics show that at least 100 people get examined at the National Dermatology Center and 900 people get services at the General Authority of Intellectual Property and Registration. Adding the number of people buying building materials and going to the Sukhbaatar Health Center and Gerontology Center, around 2,000 people commute through Zuun Ail in Sukhbaatar District each day.

The large number of commuters around this area crowds not only Zuun Ail but increases traffic between Sansar petrol station bus stop, Bayanburd and the 32nd Roundabout by up to 30 percent, according to a specialist. They emphasized that the soil in Zuun Ail – the 11th khoroo in Sukhbaatar District – has eroded to the point it is endangering the lives and wellbeing of the residents.

Over 1,000 businesses operate in Zuun Ail

Over 1,000 individuals and businesses are reportedly operating along the one kilometer road stretching from the Second Children’s Hospital to the 32nd Roundabout.

The Sukhbaatar District’s Tax Department reported that more than 800 registered and permitted individuals and companies are running a business in Zuun Ail.

While 600 of them provide service at 21 centers, the rest build small buildings, sell construction materials, and manufacture windows, doors and wooded furniture outside.

City officials complained that manufacturers operate on public property and park their vehicles on the first lane, causing heavy traffic in the area. They expect the heightened traffic to worsen as street vendors selling socks, insoles, slippers, gums and tobacco increase.

Land specialists of Sukhbaatar District complained that many people are selling sand and gravel on the street around the 32nd Roundabout because of the building materials market and that the number of these vendors will probably grow in the future unless the government or city administration takes action to prevent it. Specialists speculate that building material enterprises are spreading to the 32nd Roundabout as buildings on either side of Zuun Ail don’t allow the market to expand to the east or west.

It was reported that 50 individuals and companies sell sand and gravel from their trucks parked along the road. At this rate, the 32nd Round will soon turn into a “black market”, as described by city officials.

In concern of the black market blocking roads to summer camps and houses of Ulaanbaatar residents located outside the capital, the Ulaanbaatar City Council believes it’s best to relocate the building materials market in Zuun Ail.

High content of lead found in children’s blood

Local residents are the victims suffering the most from the long absence of a proper land management in Zuun Ail.

Road accessibility has become a major issue in this area because vendors have taken up most of the limited space with their storages. Randomly-placed storages and containers are the main reason the road along Baga Toiruu is still under construction despite starting almost simultaneously with the construction of Khangai Town. Khangai Town was commissioned almost three years ago.

As many people occupy the small area and use latrines, the soil is facing serious pollution and erosion problems.

“The soil pollution around the building materials market is high and moderate 100 meters from the market,” read a report by the Ulaanbaatar Specialized Inspection Agency. The extent of soil pollution is evident in the trash and wastewater affecting Zuun Ail as well as the pee stains on corners of buildings.

Due to these reasons, the content of lead in nearby soils has exceeded the maximum permissible level. Last year’s heavy metals analysis found 27.3 micrograms of lead per kilogram in soil samples from Zuun Ail. An acceptable level of 600 part per million of lead in soil suggested as a “safe” level that would contribute no more than 0.05 part per million to total blood lead of children aged under 12.

However, blood tests of 29 children living with disabilities and 153 children of Kindergarten No.186 and School No.116 in Zuun Ail indicated that 62 percent of them were exposed to lead contents higher than the maximum acceptable level.

Vendors are willing to move out

The majority of vendors and residents are showing support for the decision to relocate Zuun Ail’s building materials market because they understand that it’s the only option for resolving these challenges.

“Most people selling things from containers on the streets are supporting this decision. Only the owners of large shopping centers might protest. People who do business outdoors are ready to move out,” said a street vendor in Zuun Ail.

A business owner said, “Let’s be honest – nobody would want to run a business standing on the street amid Mongolia’s extreme climate with drastic temperature swings. We would have no reason to reject if we’re asked to move to a new building where all building materials trade is centralized.”

A carpenter and three people who make windows and doors also agreed that the building materials market should be moved outside of the capital. The only request they had for city officials was to prohibit operations of large building materials centers and open markets in the city to ensure fair play in the market.

Some vendors and entrepreneurs stated that owners of large trade centers have held talks about the relocation of Zuun Ail’s market at every chance they got. They reportedly “brainwashed” small vendors to protest with them. A couple of street vendors stated that they used to follow these owners because they outnumbered them.

“There are over 80 enterprises and about 60 individuals running businesses outdoors. I heard that there were more than 1,300 people working in Zuun Ail last year. This means that about 1,000 people rent booths at trade centers like Odkhon. If these people refused to move out, the few of us will have no choice but to comply,” said one of the vendors.

He suggested city officials to negotiate with owners of trade centers and storage owners in the area if they really want to relocate the market. “They’re the only ones obstructing development projects aimed to improve the environment and living condition of Zuun Ail,” he added.

Public properties to be vacated first

A task force has been assigned to handle the relocation of Zuun Ail’s market by the Ulaanbaatar City Council. The task force plans to stop businesses operating on public property before the end of May as feasibility studies indicate that the project is viable.

The second step will be relocating some building materials manufacturers to the Auto Trade Complex and Nalaikh’s Building Materials Industrial and Technological Park. The decision to provide a part of the Auto Trade Complex was made in consideration of people who want to renovate their home but are unable to travel far distances to find companies, as explained by the task force.

Once the first tranche of the project is finished, intersections near Zuun Ail will be expanded. The task force plans to increase road lanes from four to six by August to improve road accessibility. Next year, old buildings will be reconstructed and a new trade center will be built. As a result, city officials hope to transform Zuun Ail into a residential town and ensure their residents have a job and stable income.

Leader of the task force Ch.Gantulga says, “Our task force has been working for over two months. We have presented our report to the Ulaanbaatar City Council. The council instructed us to relocate the market before the end of the third quarter of this year. The relocation will be carried out in three stages. People making a living from working there will not be chased away.”

“The first stage is to free public areas, expand roads, and build parking for 200 cars on each side of the road. Next, old trade centers will be demolished to build a large shopping center that will provide comfortable working conditions for vendors and meet international standards. In return for vacating their land, venders will get the chance to expand their business and work under better conditions. In the future, building material trades will be allowed at the Auto Trade Complex, Belkh Market and Zuun Ail but factories will be moved outside the city,” he clarified.

Believing that they will get a better working space, venders of Zuun Ail’s building materials market are willing to move outside the city.

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IMF issues warning on global debt www.bbc.com

The International Monetary Fund says that high global debt is a concern.

In a new report, the IMF says governments should use the current strong economic growth to strengthen their finances.

The organisation also says that risks to global financial stability have increased.

It does, however, also say that the banking sector has become more resilient since the global financial crisis.

The IMF's assessment of the general economic outlook, published on Tuesday, was fairly upbeat for the near term.

But it did note there are risks, some of which are set out more fully in two reports just out, one on the stability of the financial system and the other focusing specifically on government finances around the world.

Future downturn
On governments, the IMF says "decisive action is needed now". It argues that by improving their finances when economic performance is strong, governments will have more scope to use tax cuts or increases in public spending to combat a future downturn.

Acting now also means they are less likely to have difficulty borrowing the money they need when the economy weakens.

There is criticism, in carefully chosen language, of the US, where President Donald Trump's administration is embarking on tax cuts at a time when the IMF judges the economy is close to full employment.

Policy there, the IMF says, "should be recalibrated to ensure that the government debt-to-GDP ratio declines over the medium term". That strongly implies a view that US should be moving in almost exactly the opposite direction to what it currently plans.

There is also a warning about risks of global financial instability. That is partly, though not only, about rising government debts.

Rising inflation and central banks' responses with higher interest rates could aggravate debt problems and could also hit the prices of financial assets.

Chinese banks
There's a particular warning about China. The large scale and opaque nature of the financial system pose a risk to stability, the IMF says.

That said, the report also notes that Chinese banks have reduced their use of risky short-term borrowing, in response to tighter regulation.

The report also judges that the global banking system is stronger now than it was at the time of the crisis. But it adds that reforms need to continue.

One encouraging point is the IMF's views that crypto-assets - the likes of Bitcoin - do not currently appear to pose any risk to financial stability. But they could do if they become more widely used.

It says the technology behind these assets has the potential to make financial markets work more efficiently.

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ETT to introduce risk management standard for zero-accident www.montsame.mn

Ulaanbaatar /MONTSAME/ Erdenes Tavan Tolgoi JSC reports that the company intends to implement a program to achieve the goal of zero-accident rate by introducing ISO 31000 risk management standard. The program will be launched by a ‘Start’ signal on April 23 in its mine and all contractor companies will join it.

ETT is focusing attention on introducing international standards and the company created a possibility to monitor its mining activity from the central office locates in the capital city. In other words, all process from extraction till coal transportation to customs control zone are under remote control and it will give a stimulus to ensure labor safety, underlined authorities of the company.

Acting CEO of the Company B.Gankhuyag said “Outcome of our company’s activity will be measured by hard work of the miners and securing their labor safety. Mining field has much risk. Thick dust and blast in the mine cause risk to human health and environment and safety operation. Therefore, ETT will work paying special attention on ensuring safety operation completely.”

The Company set a goal to export some 10 million tons of coal this year and now it has off-loaded over three million tons in customs control zone of Tsagaan Khad for export since the beginning of this year. In 2017, ETT extracted 10.1 million tons of coal and exported just 8.5 million tons due to limited entrance capacity of border passing. Furthermore, the Company completely paid off its foreign and domestic debts last year and had MNT 461 billion net profit, after paying tax of MNT 243 billion. In future, the Company will attach attention on infrastructure projects, programs and to put 1072 shares into economic circulation.

Coal loading trucks started crossing Gants Mod border checkpoint through three gates beginning from April 16 and as a result of it coal export of ETT expected to be increased two times. 
B.Batchimeg

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Xanadu Mines discovers new copper porphyry centre at Kharmagtai project in Mongolia www.proactiveinvestors.com.au

Xanadu Mines Ltd (ASX:XAM) has discovered a new copper porphyry centre at its Kharmagtai Copper-Gold Project in Mongolia’s South Gobi region which hosts the large Oyu Tolgoi project.

A hole targeting a buried porphyry system has encountered some 600 metres of porphyry-style mineralisation at the target, which has been named Zaraa.

This hole is at a depth of 1,200 metres and remains in mineralisation with visible copper-bearing sulphides.

The top 770 metres of the hole returned 316 metres at 0.32% copper and 0.27 g/t gold from 458 metres.

Within this intersection were 217 metres from 557 metres at 0.4% copper and 0.33 g/t gold, and 108 metres from 645 metres at 0.47% copper and 0.42 g/t gold.

Executive director and chief executive officer Andrew Stewart said “We have started 2018 with very strong exploration results.

“Significant high-grade extensions have been added to the existing resources and our ever-improving understanding of the undercover geology at Kharmagtai has resulted in several new discoveries.

19 large-scale porphyry targets
“We have now tested eight of the 19 large-scale porphyry targets recently identified and five have produced significant intervals of porphyry alteration and mineralisation.

“Zaraa represents the latest target tested and we are extremely excited by the first diamond drill results.

“It is a new porphyry centre and early indications are the system has the grade and scale to represent a significant new discovery.”

Zaraa near Sandstorm target
Zaraa is 500 metres south of the Sandstorm target and 1 kilometre west of Golden Eagle.

Final results from the Zaraa drilling are expected in the next couple of weeks.

The company believes the hole indicates the system is increasing in size and grade towards the southwest.

Three follow-up holes are planned to test this new system along strike, targeting higher grades and broader widths in addition to expanding shallow high-grade mineralisation.

Ground magnetic data and location of reported drilling at Kharmagtai.

Broad zones of tourmaline breccia
At Sandstorm, drilling has returned a broad zone of sulphide-bearing tourmaline breccia mineralisation.

This is about 1.2km along strike from the mineralised breccia system at Stockwork Hill.

One hole intersected more than 100 metres of tourmaline breccia which is interpreted to be the strike extension of Stockwork Hill.

Assay results are expected in early May with follow-up drilling underway.

Epithermal gold intersections
At the Zephyr target, multiple high-grade epithermal gold intersections were returned while drilling porphyry targets.

Results include 2 metres at 4.4 g/t gold from 238 metres and 8.5 metres at 3.4 g/t from 297.5 metres, including 2 metres at 10.7 g/t from 300 metres.

Xanadu’s drilling at White Hill West target continues to expand the system with the best result being 785.9 metres at 0.21% copper and 0.12 g/t gold from 2 metres.

A reverse circulation program is underway to establish whether White Hill West links with the White Hill target 2 kilometres away.

Four rigs drilling
Stewart said: “Our strategy is clear: the best way to add tonnes and grade to the existing resources is by discovering additional high-grade deposits within the Kharmagtai licence area.

“With four rigs drilling around the clock we are delivering on this strategy and the discovery of Zaraa reinforces the amazing exploration potential of the Kharmagtai porphyry district.”

Drilling will start in early May at the Red Mountain project east of Kharmagtai targeting large-scale porphyries and epithermal gold.

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The Need for a Sovereign Wealth Fund www.gogo.mn

The Ministry of Mining and Heavy Industry held a press conference titled “Transparent Mining” in order to give a briefing on the 1st Quarter report for the mining sector. As of the first quarter of 2018, mining accounted for 448.2 billion MNT in revenue in the state budget. 262 thousand tons of petroleum have been extracted as of April 11, with 53.3 billion MNT in revenue.

The Minister of Mining and Heavy Industry D. Sumiyabazar said, “Commodity prices at global market increased and have been projected to remain at this level for next 3-5 years. Hence, a sovereign wealth fund should be created within 2018”.

The wealth fund would consist of assets from strategic state-owned entities, including Baganuur JSC, Shivee-Ovoo JSC, Erdenes Tavantolgoi JSC, Erdenet Mining Corporation., Our main objective is to create a holding fund, the assets of which equals more than 10 percent of the GDP.”

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