|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
The Mongolian parliament issued an ordinance Wednesday on convening an extraordinary session to discuss the removal of the country's prime minister.
According to the ordinance issued by the parliament's speaker Miyegombyn Enkhbold, the session of the State Great Khural (Mongolia's parliament) scheduled for Aug. 30 to Sept. 7 will discuss the dismissal of Erdenebat Jargaltulga, the incumbent prime minister.
Last week, 30 members from the ruling Mongolian People's Party (MPP) in parliament supported the petition to remove Jargaltulga from office.
Jargaltulga violated national law on key economic issues related to concession deals, allowances for Mongolian children and stock shares in a mining company, among others, said Parliament member Ayursaikhan Tomorbaatar.
"We observed that his actions and decisions were only to serve the interests of several groups, but not for the interests of the ordinary people of Mongolia," Tomorbaatar said.
According to Mongolia laws, the petition demanding the dismissal of Jargaltulga must be discussed and resolved within 15 days.
Erdenebat, 44, of the MPP, took office in July 2016.
The 2017 Suzuki World Judo Championships saw Mongolia break Japan’s strangehold over the gold medals on Wednesday as Rio 2016 Olympic silver medallist DORJSUREN Sumiya became their country’s second female world champion in the history of Mongolia and first non-Japanese winner here in Budapest, in front of the President of Mongolia, H.E Battulga Khaltmaa.
After an epic World Championships final between DORJSUREN and world number one YOSHIDA Tsukasa (JPN) it was the Mongolian who won on the IJF’s biggest stage after a 15-minute duel for gold which teased, tantalised and elated the crowd all at the same time.
The President of Mongolia, H.E. BATTULGA Khaltmaa, who is also President of the Mongolian Judo Association, has often worked out with his country’s national team at their training centre in Ulaanbaatar and was on the edge of his seat for the duration of the contest.
H.E. BATTULGA Khaltmaa watched the final from his matside position only metres away from the action and was swiftly congratulated by all those around him as the crowd was awash with Mongolian flags and supporters who sang the loudest anthem of the competition so far.
H.E. BATTULGA Khaltmaa said: “The gold medal is very important. We are here to get the gold medal. We were planning on getting the gold medal in -48kg category but we could only get the silver.
“Today is a great day for Mongolia and we have still good judoka to come. We won against Japan and took the first title for a non-Japanese athlete. France won its first medal of the competition and we have now four medals. Mongolian judo is becoming the number one sport in my country. But judo is much more than a sport. It is discipline and education, as well as respect, and in judo we bow to each other. Today we have discovered the new heroes of Mongolia.”
After a scoreless opening four minutes, the seconds and minutes elapsed as both judoka were unrelenting in their bid for gold on day three in Hungary. At the six minute mark of golden score, the crowd were out of their seats clapping trying to energise both judoka and they didn’t want the all-action final to end. DORJSUREN was manoeuvring for an opening and after nine minutes of golden score she threw YOSHIDA with a koshi-guruma for a waza-ari which was worth world gold. DORJSUREN reacted by throwing her hands up in the air before tapping the Mongolian flag on her judogi to show the world where she comes from and where the world title was going to.
Rio Tinto (ASX, LON:RIO), the world's second largest iron ore producer, on Wednesday formally opened its 16th iron ore mine in the Pilbara region of Western Australia.
The Silvergrass mine is due to be commissioned during the final quarter and the $338 million brownfield development is set to produce 10m tonnes of low-sulphurous ore a year.
Rio Tinto chief executive Jean-Sébastien Jacques said Silvergrass was a "great example of our value-over-volume approach," as the mine would provide low-cost, high-grade material to maintain the quality of the miner's brandname Pilbara Blend.
Silvergrass is located adjacent to Rio's Nammuldi mine and ore would be moved to the Namuldi plant by a 9-km conveyer system currently under construction.
The initial phase, with a five million tonne per annum capacity, began production in the fourth quarter of 2015. Final capacity could be in excess of 20m tonnes per year, but most of Silvergrass output would replace depleting resources elsewhere.
Rio is also moving ahead with its $2.2 billion Koodaideri iron ore project in Western Australia, 110km west-north-west of Newman. The project would begin construction in 2019 and enter production two years later.
Rio Tinto said it shipped its five billionth tonne of iron ore last year after 50 years of operations in the Pilbara and has invested some $20 billion in Western Australia over the past decade.
Last month, the Melbourne-based giant cut back guidance for iron ore output in 2017 by up to 10m tonnes to around 330m tonnes. Iron ore accounts for just less than half Rio's earnings.
The Northern China import price of iron ore was holding steady in the mid-$7os a tonne range this week, up more than 40% from lows struck mid-June.
SEOUL (Reuters) - A South Korean court on Thursday ruled against Kia Motors, ordering the automaker to pay around 420 billion won ($374 million) in unpaid wages.
Kia Motors’ workers filed a lawsuit in 2011, claiming unpaid wages of 659 billion won. In 2014, they lodged an additional wage lawsuit.
The workers said regular bonuses should be included as part of a base pay used to calculate overtime, compensation for unused annual leave, severance pay and other payments.
The Sainshand wind farm in Mongolia, the third privately financed wind farm in the country, will receive a USD 120 million project financing package from a group of international investors and financiers.
Located 460 km south-east of Ulaanbaatar in the Gobi Desert, Sainshand Salkhin Park LLC is sponsored by French energy leader ENGIE, German project developer Ferrostaal, Danish Climate Investment Fund (DCIF) and Mongolian entrepreneur, Radnaabazar Davaanyam, with long-term financing provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
The lenders have agreed to provide a total project financing of USD 78.5 million, which comprises EIB funding of USD 47 million, of which the first tranche will be guaranteed by EKF, Denmark’s Export Credit Agency, with NORD/LB acting as agent; and EBRD funding of USD 31.5 million.
Once operational, the new Sainshand wind farm will make a significant contribution to reducing Mongolia’s carbon emissions and cater for an expected increase in power demand in the country. The scheme will significantly enlarge Mongolia’s renewable energy capacity and help the government to achieve the goal of renewable energy accounting for 20 per cent of all power by 2020, and 30 per cent by 2030.
Jonathan Taylor, Vice President, European Investment Bank (EIB), said: “The European Investment Bank is committed to supporting climate-related investment across Asia and is pleased to support development of wind power in Mongolia, which provides an alternative to coal use. The Sainshand wind farm will use world-class technology and demonstrate that wind power can be successfully harnessed in remote regions facing a harsh climate.”
Hans-Dietmar Schweisgut, Ambassador, European Union to Mongolia, said: “Mongolia and the European Union are signatories of the Paris Climate Agreement and the new Sainshand wind farm shows the close partnership between Europe and Mongolia to reduce carbon emissions through renewable energy. European finance and technical expertise, working in close cooperation with Mongolian partners, demonstrate a shared ambition to harness wind from the Gobi Desert to tackle climate change.”
The Sainshand wind farm will be built by China Machinery Engineering Corporation (CMEC) as the engineering, procurement and construction (EPC) contractor, and will use 25 Vestas V110 2.2 MW turbines to deliver up to 55 MW of clean energy that will save an estimated 200,000 tonnes of carbon emissions. Construction at the site is expected to start later this summer and be completed before the end of 2018. It follows three years of wind surveys to measure the high-yield winds in the area. The average wind speeds per second at the site are ideal for onshore wind energy.
The project has been developed in consultation with the local communities and a detailed environmental impact assessment has been approved by the relevant national authority. Financing has been agreed following preparation of a comprehensive environmental and social management system compliant with international standards such as those of the EBRD, EIB, International Finance Corporation (IFC) and the Equator Principles.
The European Investment Bank has operated in Mongolia since 1997 and past engagement has supported investment in water infrastructure in the capital Ulaanbaatar.
The EIB is one of the world’s largest financiers for renewable energy investment and last year provided €3.9 billion for renewable energy projects including wind, geothermal, solar and hydropower schemes around the world....
Prime Minister Viktor Orbán met with Mongolian President Khaltmaa Battulga in Budapest on Tuesday, state news wire MTI reported. Minister of Foreign Affairs and Trade Péter Szijjártó also met with his Mongolian counterpart during the day.
The sides agreed that strengthening partnerships in the areas of information technology, water management, food production and animal health can foster closer economic ties between the two countries, Bertalan Havasi, the PMʼs press chief, told MTI.
The parties also voiced their support for the use of tied aid for developments, he added.
The Mongolian president, a recently elected former martial arts star, is in Budapest for the World Judo Championships, which the capital is hosting until September 3.
Also Tuesday, Minister of Foreign Affairs and Trade Péter Szijjártó met with his Mongolian counterpart Lundeg Purevsuren in Budapest.
Hungary firmly supports the Mongolian governmentʼs endeavor to establish a strategic cooperation with the European Union, Szijjártó said in a statement. Mongolia wants to establish this strategic cooperation with the EU based on its "third neighbor" policy, which aims to build relationships with countries other than Russia and China, he added.
Economic ties between Hungary and Mongolia could benefit from partnerships in the areas of water management, animal health and information technology, Szijjártó said.
ULAN BATOR, Aug. 29 (Xinhua) -- Mongolia held a farewell ceremony here on Tuesday to see off its 26 peacekeepers to South Sudan.
The new team from Mongolia's National Emergency Management Agency (NEMA) is the seventh batch of Mongolian peacekeepers to South Sudan.
The NEMA troops have been participating in UN peacekeeping operations since 2012, said NEMA chief Brigadier-General T. Badral said at the ceremony.
"We are pleased that over the past period more than 240 Mongolian troops have served in UN operations to ensure safety and protection of peace around the world," he said.
After his speech, Badral handed over national flag and the flag of his organization to J. Khash-Erdene, a senior lieutenant from the Special Rescue Division of NEMA, who will lead the seventh batch of Mongolian military contingent in South Sudan.
Mongolia's NEMA was created as a regulatory body for disaster coordination in Mongolia at the recommendation of the United Nations, following a disaster hitting the country in 2001.
R.Bilguun: Visa and visa permit shall not be issued if the documents are incomplete or illegally composed www.gogo.mn
Mongolia Immigration Office has been preparing series of an interview in order to educate foreign residents, temporary visitors and business travelers to Mongolia on relevant Mongolian laws and regulations. On the occasion of the new academic year starts, we have interviewed Mr. Bilguun, officer at Visa & Permit Department of the Mongolia Immigration Agency, regarding the “S” visa type which is residence permit in Mongolia for purpose of study.
- The number of foreigners for purpose of study in Mongolia is increasing since the new academic year starts. Therefore, please provide detailed information on regulation and procedure to get “S” visa?
- Mongolia has 11 types of visas and “S” visa is for foreigners visiting the country for the purpose of study or specializing in specific field and conducting internship, scientific investigation and research work in Mongolian universities and institutions. That visa is issued in compliance with “Law on Legal Status of Foreigners” and applicable rules and regulations of the Ministry of Education, Culture, Sciences and Sports (MECSS) and Mongolia Immigration Agency (MIA).
Moreover, an appropriate type of visa permit is issued for foreigners who applied for residence permit in Mongolia for official or business purpose, according to the article 2.6 of “Regulation on visa issuance of Mongolia” which was endorsed by Government resolution numbered 338 on December 22, 2010. The “visa permit” means document which authorizes visa issuance and granted for foreigners.
Our organization grants visa and visa permit to foreigners who came to Mongolia for purpose of study or specializing in specific field and conducting internship, scientific investigation and research work, as a way of considering the requests from state administrative body in charge of education (MECSS) and its authorized organizations, in accordance with “Law on the Legal status of Foreigners”.
- Would I like to clarify about the application documents required for visa and visa permit and other important things to remark?
Validity period of applicant’s passport or document that substitutes the passport must be at least 1 year. Therefore, be sure to carefully check the validity period of your passport.
The following documents are required for the visa permit application. Herein:
Official letter from the MECSS which confirms to invite the applicant,
Visa requesting official letter of inviting school with clear definition of necessity to invite foreigner,
State registration certificate of the school,
Special license of the school and its copy, if the school owns the license for regular activity,
Copy of passport pages clearly showing passport number, dates of issue, expiry, name and date of birth,
Labor identification card or accreditation of employee of inviting school.
Visa and visa permit shall not be issued if above-mentioned documents are incomplete or illegally composed.
- In what cases do you refuse to issue the visa?
-There are several cases that we refuse to issue the visa and visa permit to foreigners. For example, if the applicant had been executed administrative penalty as he/she broke the law according to the article 16.2 of “Law on Infringement” in last 3 (three) months. Moreover, the visa and visa permit is not allowed for foreigners who violated the law according to the article 16.2 of “Law on Infringement” two or more times within 1 (one) year before the application. Besides this, the visa and visa permit is not allowed if the applicant’s documents are incomplete or illegally composed as I mentioned.
- How many days does it take to issue the visa?
- Our organization, the Mongolia Immigration Agency issue the visa in 3 (three) days after the receipt of application and the urgent visa in 8 (eight) working hours, and we inform applicant by instant message. And the applicant is possible to inquire from information center 7585-1882 during 14:00-16:00 pm. Visa permit is valid within 183 days after its issuance date.
- What is the process to get a residence permit?
Foreigner who acquired “S” visa shall enter to Mongolia in accordance with his/her visa permit. The visa holder must be registered within 7 days and must get residence permit card within 21 days after the first arrival day to Mongolia.
Currently, there are about 14000 foreigners who had acquired residence permit for purpose of study. Mongolia Immigration Agency could issue residence permit for up to 2 (two) years and decides its extension.
Detailed information about the process and application documents for residence permit are available on our website http://immigration.gov.mn.Therefore, you may visit our website as well as get information from our online guide.
- Is there any possibility for foreign residents who is studying in Mongolia to request residence permit for their family members?
- Undergraduate foreign students are not allowed to apply for residence permit for their family members. However, postgraduate (master and doctor’s degree) students are permitted to invite their family members after 6 months from their residence permit issuance date....
ULAANBAATAR (GoGo Mongolia) - As of Jul 2016, the Government of Mongolia spent MNT 403 billion (USD 166 million) for the interest payment on its both internal and external debts. This year the interest payment has increased by MNT 100 billion (USD 41 million) and estimated at MNT 583 billion (USD 240 million).
The Government of Mongolia is taking debts by selling securities in domestic market and bonds in international markets. The bonds issued by the Government reached MNT 1 trillion and 164 billion in July 2016. However, the Government has not even paid the interest payment on its previous debts.
In 2018, Mongolia must repay a total of USD 660 million bonds to international investors. Although, State Secretary of the Minister of Finance B.Nyamaa presented a plan to replace these bonds by issuing new bonds. Thus, foreign debt payment might account the largest part of the state budget in next year. At least, the new bonds must have low-interest rate and long-term.
In March 2017, when a USD 580 million bond issued by Development bank of Mongolia came in due, the Government replaced it by a new bond, named Khuraldai. 82 percent of the lenders and investors of Development bank of Mongolia`s USD 580 million bond agreed the replacement while remaining 18 percent of the owners wanted to take the bond payment and its interest payment. Then the Government paid a total of USD 104 million to these foreign lenders.
In such way, the country is easily delaying its debt repayment and living from loan to loan.