1 FOREIGN RELATIONS OF MONGOLIA’S ROAD TRANSPORT SECTOR BROADENING WWW.MONTSAME.MN PUBLISHED:2019/02/21      2 MONGOLIA EXPRESSES READINESS TO CONTRIBUTE TO STRENGTHENING ASIA-EUROPE COOPERATION WWW.MONTSAME.MN PUBLISHED:2019/02/21      3 OYU TOLGOI FUNDED 35.1 KM ROAD OPENS IN KHANBOGD WWW.GOGO.MN PUBLISHED:2019/02/21      4 POLYMER BITUMEN TO BE DOMESTICALLY PRODUCED WWW.MONTSAME.MN PUBLISHED:2019/02/21      5 KHURELBAATAR CHIMED: 319 ENTITIES DREW LOANS FROM TWO FUNDS WWW.ZGM.MN PUBLISHED:2019/02/21      6 CONSTRUCTION OF TAVANTOLGOI-GASHUUNSUKHAIT ROAD TO BE INTENSIFIED WWW.MONTSAME.MN PUBLISHED:2019/02/20      7 OVER 30 MEASURES PLANNED FOR REDUCTION OF ENVIRONMENTAL POLLUTION WWW.MONTSAME.MN PUBLISHED:2019/02/20      8 MONGOLIA SAYS IT EARNS OVER 169 MLN USD FROM COAL EXPORTS TO CHINA IN JAN WWW.HELLENICSHIPPINGNEWS.COM  PUBLISHED:2019/02/20      9 RUSSIA’S GAZPROM TO START CHINA GAS PIPELINE BY DECEMBER 1 WWW.RT.COM PUBLISHED:2019/02/20      10 MONGOLIA'S FOREIGN TRADE UP 41.6 PCT IN JAN. WWW.XINHUANET.COM PUBLISHED:2019/02/20      УГСАРМАЛ ОРОН СУУЦНЫ ДУЛААЛГАД ЗОРИУЛЖ 12.7 ТЭРБУМ ТӨГРӨГИЙГ УЛСЫН ТӨСВӨӨС ГАРГАХААР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/21     2018ОНД ЦАГААН БУДАА , ЭЛСЭН ЧИХЭР , ТАХИАНЫ МАХНЫ ИМПОРТ 24-32 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ДЦС IV: 2018 ОНД НИЙТ АШИГ 4.7 ДАХИН ӨСӨЖ , 4.48 ТЭРБУМ ТӨГРӨГ БОЛСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ТУСГАЙ САНГУУДААС ГАРГАСАН ЗЭЭЛИЙН 100 ОРЧИМ ТЭРБУМ ТӨГРӨГ ХУГАЦАА ХЭТЭРСЭН ӨР БОЛЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     МОНГОЛ УЛСЫН БОРЛУУЛАЛТЫН МЕНЕЖЕРҮҮДИЙН ИНДЕКС СҮҮЛИЙН 12 САРД АНХ УДАА УНАЛТЫН БҮСЭД ШИЛЖИВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     2018 ОНД ХАМГИЙН ЧИНЭЭЛЭГ БҮЛГИЙН ХЭРЭГЛЭЭ ЯДУУ БҮЛГИЙНХНЭЭС 5.1 ДАХИН ИХ БАЙВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     ХОВД ГОЛД ОСОЛДСОН 6 НАСТАЙ ХҮҮХДИЙН ЭРЛИЙГ ЗОГСООЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/21     ДБНХ-НООС П.ОРХОНЫ БАРИЛДАХ ЭРХИЙГ 4 ЖИЛЭЭР ХАСАВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/21     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    

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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World Bank gives USD 400 million to support Mongolian SMEs www.montsame.mn

Ulaanbaatar /MONTSAME/ In the frame of the Mongolia Export Development Project, the World Bank has rendered financial support to over 20 small- and medium-sized enterprises (SMEs) worth USD 400 thousand.

In particular, the World Bank has approved to render financial support to six entities which sent export plan at their last meeting. The sides agreed to allocate the financial incentives for researches on marketing tourism, wool and cashmere products, Mongolian interlocking puzzles and souvenirs as well as for developing and testing new export products.

In accordance with the agreement established with the Mongolian Government, the World Bank will support Mongolian small and medium size firms (SMEs) in the non-mining sectors with the fund totaling USD 20 million. However, the funding will not be granted directly. The project will cover 50 per cent of the total expense of activities including strategic business plan, management reform, product quality examination, certification, product launching, and participation in export trade fairs and training.

The highest amount of assistance equals to USD 100 thousand. Moreover, there are seven requirements set to enterprises to benefit from the program, including export development plan.Therefore, free training is held on methods of developing the plan.
E.Altanzul

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Commodity prices see some increases in early February www.gogo.mn

The price of coking coal in China's eastern regions was 244 USD per ton (for Australian coal) at the beginning of February.

The amount is an 8.2 percent increase compared to the past 90 days. The price in Shanxi Province, a key buyer of Erdenese Tavan Tolgoi JSC coal, was 221 USD per ton.

In Hebei Province, another large market for coking coal, the price was around 243 USD per ton. The price of concentrated coal from Energy Resources LLC was 130 USD per ton and Erdenes Tavan Tolgoi JSC coal sold for 66 USD per ton as of January 31.

The price for Mongolian iron ore was 45 USD per ton, but Australian ore reached 74.5 USD per ton and Brazilian iron ore sold for 108 USD per ton.

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Putin signs law on extension of capital amnesty for Russian businesses www.rt.com

Russian President Vladimir Putin has signed a package of laws extending a capital amnesty until February 28, 2019. It allows Russians to voluntarily declare assets and accounts in banks.

A total amnesty for all funds returning to Russia follows an anti-offshore bill requiring individuals and businesses to report foreign profits. The bill was aimed at curbing the outflow of capital from Russia, which was estimated at over $2 trillion in recent years.
The bill was explained by Deputy Prime Minister Igor Shuvalov as allowing people who have made any mistakes in their business activities to declare the property and become completely law-abiding citizens.

The laws were earlier adopted by both chambers of the Russian parliament.

It’s the second stage of the capital amnesty, which commenced in March 2017. In this case, special declarations can be submitted both by individuals who haven’t done that before, and those who participated in the first stage.

According to the documents, published on the official portal of legal information, all the guarantees for those who used the amnesty of capital in the first stage in 2015-2016 will be fully preserved.

Putin said earlier that the extension of capital amnesty, which is supported by international financial institutions, will add stability to the Russian business environment.

Voluntary declaration of assets and accounts in banks has started in Russia from June 1, 2015. Individuals had the right to submit to the tax authorities a special declaration with the information about the property, controlled foreign companies, accounts in banks located outside Russia. That could be done in exchange for exemption from tax, administrative and criminal liability for tax and customs duties payment evasion and failure to comply with laws on currency regulation and currency control. The amnesty covers all revenues, operations and transactions related to overseas assets and accounts.

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TOP20 Index raises by 0.44 percent www.montsame.mn

Ulaanbaatar /MONTSAME/ In trading of February 19, the Mongolian Stock Exchange sold 57,754 pieces of shares of 19 companies which are listed in the first, second and third categories.

Stock list of 9 companies has been raised. Specifically, stock price of 7 companies decreases while that of three companies was in stability. Out of them ‘Khuvsgul Khuns’ JSC HHS increased by 15 percent, ‘’Khunnu Management’ HBZ by 19.98 or showing the highest growth, whereas ‘ITools’ ITLS had 5.7 percent decline and ‘Hai Bi Oil’ HBO had 4.71 percent down.

The same day, TOP20 Index reached 21737.68 units, up by 0.44 percent while market value surpassed MNT 2.5 trillion.

B.Batchimeg

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Rio Tinto weighing power generation options for Oyu Tolgoi, Mongolia www.mining-technology.com

Rio Tinto is considering options to develop domestic energy generation for the Oyu Tolgoi operation after the Government of Mongolia terminated the power sector cooperation agreement (PSCA) for the country’s southern region.

Under the PSCA signed in August 2014, Rio Tinto reached a framework for cooperation with the Government of Mongolia to deliver an energy plan for the South Gobi region.

According to an investment agreement reached by Oyu Tolgoi, the company agreed to set-up power supply within the country four years from the start of commercial production.

The termination of PSCA requires Oyu Tolgoi to meet the domestic power supply commitment within four years.

Originally, the government intended to develop a new independent power plant at the Tavan Tolgoi coalfields with Oyu Tolgoi as off-taker rather than the owner.

Among the multiple options being considered, Rio Tinto is exploring the possibility of the construction of an Oyu Tolgoi site-based power plant.

The company noted that it would meet all obligations agreed to under the investment agreement.

It is understood that the cost and means of financing the power supply solution will be finalised between shareholders.

Meanwhile, the company indicated that it would continue to review its capital expenditure forecasts for the project.

Rio Tinto has already set aside $250m a year to fund the development of a power station in the country in its 2019 and 2020 CAPEX forecasts.

Oyu Tolgoi is in the southern Gobi desert of Mongolia, 550km south of the capital, Ulaanbaatar.

The copper and gold mining project is jointly owned by the government of Mongolia and Turquoise Hill Resources, with 34% and 66% respectively.

Rio Tinto is a majority stakeholder in Turquoise Hill with a 51% interest.

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Diesel import increases but drops in gasoline import www.montsame.mn

Ulaanbaatar/MONTSAME/ According to the Statistics Division of the Mongolian Customs General Administration, Mongolia imported 19 thousand tons of auto gasoline last month, with a decrease of 10 thousand tons against the same period of previous year.

As compared with the same period of previous year, an average import price for a ton of gasoline rose by 14 percent, reaching USD668 in January, 2018.

In January, 2018 an import of diesel fuel reached 81 thousand tons, with an increase of 17 thousand tons against the same period of previous year. An average import price for a ton of diesel fuel reached USD628, with an increase of 19 percent.

M.Unurzul

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Cabinet cancels energy cooperation agreement with Oyu Tolgoi www.gogo.mn

The Government of Mongolia has cancelled a 2014 agreement signed with Oyu Tolgoi (OT) regarding the mine's energy needs.

Cabinet noted that it will commit to cooperating in the provision of energy for the mine from domestic sources, as well as in studying the possibility of building a Tavan Tolgoi thermal power station.

The cancellation of the agreement has left OT with finding alternatives to imported power as a source of energy. It is predicted that OT will explore the opportunity to build a thermal power station at the mine site. OT has stated that it will follow the articles of the 2009 investment agreement signed with the government in the future.

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GM offers $2.2 billion debt for equity swap in return for Seoul's support - sources www.reuters.com

SEOUL (Reuters) - General Motors (GM.N) has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said.

The restructuring proposal comes after the Detroit automaker announced last week that it would shut its plant in the city of Gunsan, southwest of Seoul, by May and decide the future of the remaining three plants in the country within weeks.

The debt for equity swap would allow GM’s business in South Korea to continue operating. It was not immediately clear how the deal would affect the interest of the state-run Korea Development Bank, which owns 17 percent of GM Korea.

GM’s decision was the latest in a series of steps it has made to put profitability and innovation ahead of sales and volume. Since 2015, GM has exited unprofitable markets including Europe, Australia, South Africa and Russia.

It was not immediately clear how much fresh capital GM has demanded from the South Korean government to keep operating its Korean business, which employs nearly 16,000 people.

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Russian grain exports near record of 50mn tons www.rt.com

The growing production of grain in Russia is boosting the country’s exports, which are close to a record 50 million tons this year according to the director of the SovEcon analytical center, Andrey Sizov.
The director said that the country exported 48 million tons between July 2017 and the end of January 2018.

Last year, the country ceded its status of leading wheat exporter to the United States. The Russian Agriculture Ministry expects to regain the status by the end of this agricultural year [July 2017 — June 2018]. It forecasts grain exports to be 45 million tons against 35.5 million tons in the previous year.

Overall, agricultural production in Russia is projected to grow three percent this year, from last year’s 120.7 million tons. That would be the best-ever harvest for Russia, even counting the Soviet era.

The country’s export market is actively expanding, according to Sizov. Russia supplies grain to Algeria, Jordan, Egypt, Lebanon, Turkey and Iran, and Saudi Arabia has announced plans to become a major hub for Russian agricultural products in the Middle East.

In the near future exports to Indonesia and Thailand will increase, as well as those to Latin American countries including Mexico.

Russia has a significant share of the European market; almost 12 percent of Russian agricultural exports, worth around $2 billion, go to the continent.

Three years ago, President Vladimir Putin set a goal of making Russia the world's largest supplier of healthy, ecologically clean and high-quality food.

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U.Ganzorig appointed president of Mongolian Bankers Association www.montsame.mn

Ulaanbaatar /MONTSAME/ Chief Executive Officer (CEO) of Golomt Bank U.Ganzorig has been appointed as President of the Mongolian Bankers Association (MBA), finishing tenure of the former president O.Orkhon. CEO of Trade and Development Bank O.Orkhon worked as the president of the MBA in 2015-2017.

According to the rule of the MBA, regular election meeting was organized, holding poll, where U.Ganzorig appointed as president of the MBA. Thus he will lead the association in 2018-2020.

B.Batchimeg

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