|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
State Officer of Immigration, Orgil.G: Foreign Nationals have to carry identifiation at all times www.gogo.mn
We have prepared series of interview from dependable source in order to educate foreign residents, temporary visitors and business travelers to Mongolia on relevant Mongolian laws and regulations. This time we have interviewed state officer of immigration at Mongolian Immigration Agency, Orgil G.
- As tourism and construction season sets off, number of foreign nationals visiting Mongolia is increasing. What rights and obligations apply to them?
- In the summer, number of tourists who are visiting Mongolia to see our beautiful nature, culture and tradition and workers to work in infrastructure and construction sector drastically increases. Number of foreign nationals with tourist J type visa is on the rise and makes up most part of foreign nationals visiting Mongolia.
As for tourists, they need to make a careful travel plan and calculate their traveling time. Most tourists stay for 30 days. So they need to carefully plan what to sightsee and where to visit during this time. If their travel exceeds 30 days, they are allowed to make request to Mongolian Immigration Agency to extend their visa 4 working days before their visa expires and get one time visa extension of 30 days. Some tourists visit for 90 days. In this case, they need to complete registration procedure. In detail, according to Law on Legal Status of Foreign nationals, these people need to register at our agency within 7 days of entering Mongolian border.
As for foreigners staying more than 90 days, they are required to obtain residence permit in accordance to their visa type within 21 days of entering Mongolian border. There are 15 types of residence permits such as working, investing, studying, immigrating and residing for marriage or for personal reason etc. Foreigners should bring all necessary documentations according to their permit type and shall be given residence permit. Requests to obtain and extend residence permit is usually processed within 5 working days and 3 working days if they choose express service.
Foreigners who are employed in Mongolia first need to obtain work permit from General Authority for Employment and Welfare Service in order to get their residence permit extended. Therefore they are advised to take this into consideration.
- What kind of offences foreigners in Mongolia often commit? What is the punishment for them?
- Most cases include overstaying residence permit or visa, working illegally without permit from authority and conducting different business than their intended purpose. Offenders are fined with amount equaling to 1-10 times of minimum salary in accordance to relevant legislations. Fine amount varies depending on reason of their offence and number of overstayed days.
Moreover offences such as absence of identification and address violation often occur. As stated in 7.4.5. of Article 7 of Law on Legal Status of Foreign nationals, foreign nationals who are staying in Mongolia for business or personal reason are obliged to carry their passport and residence permit provided by authority at all times. If a foreigner is not carrying passport or identification equaling to that, he shall be fined with amount 3 times less than minimum salary. Foreign nationals who do not have proper documentation, unidentified, who do not follow deportation procedures, are considered to commit crime or offence and who did not leave Mongolia within 10 days after they got warming shall be detained for up to 6 hours with decision from state officer of immigration and 14-30 days with court decision until the case is resolved.
- Law on Offence and Law on Offence procedure were commencedon July 1st. What changes were made?
- Revised Law on Offence came into force on July 1, 2017. About 1600 types of offences are regulated by this law which includes several provisions on fining individual who violated Law on Legal status of foreign national.
For instance, violations of regulations on registration, owning and keeping residence permit, carrying passport, equaling identification and residence permit and regulations on employment are fined with amount equaling to one hundred units, for offence of not registering foreign nationalat relevant authority within legal period, an individual is fined with amount equaling to two hundred and fifty units and a legal entity is fined with amount equaling to two thousand and five hundred units. Moreover if a foreigner did not obtain residence permit within legal period and overstayed their residence permit or visa, he/she shall be fined with amount equaling to ten units for each day of overstay.
And invitee who did not obtain residence permit for foreign national within legal period and whose foreign nationaloverstayed their residence permit or visa, he/she shall be fined with amount equaling to ten units for each day of overstay for each foreign national.
- Then how to clear offence charges? Please give us detailed information on how to prevent committing offence.
- An offender can write request to resolve offence explaining for what reason they violated Mongolian law. They need to bring violation documents for state officer to inspect and bank receipt for paying fine amount for their offence.
During construction season, foreign nationals who are working in road, construction, agriculture, mining and other sectors with permits from Government order and General authority for Employment and Welfare Service often have inviting entity. Therefore these individuals, entities and organizations that are employing foreign nationals are advised to check expiry dates of their employees’ documents regularly.
- Under what circumstances a foreign national is deported?
- There are 12 accounts for deporting foreign nationals as stated in Law on Legal Status of Foreign national. Most common cases include overstaying their residence permit or visa for over two months and conducting different business than their intended purpose.
First halves of past three years statistics reveal that 188 nationalities from 18 countries in 2015, 313 nationalities from 25 countries in 2016 were deported. As for 2017, 261 foreign nationalities have been deported. Number of deported foreign nationals is decreasing in recent years. There are several reasons for that. For instance, due to our economic situation, foreign investment halted and movement of foreign nationals visiting Mongolia slowed down, inspection have improved and information on Law on Legal Status of Foreign Nationals were given to individuals and legal entities on regular basis. Also border inspection has improved and has been deporting illegal foreign nationals from the border.
- What measurements is Mongolian Immigration Agency taking towards preventing foreign nationals to commit offence?
- Mongolian Immigration Agency is constantly conducting regular and sudden inspections. Inspection covers all entities that are employing foreign nationals such as hospitals, schools, production, service and repair shops and rural areas. During inspections, we provide information and advice to prevent foreign nationals from documents violation.
As Ministry of Law and Domestic Affairs announced 2017 as a “Year to bring legal service closer to citizens”, Mongolian immigration Agency is working on initiating “Online Immigration” system. As part of this initiation, we are providing online legal advice and information and organizing activities to prevent any violations.
Saudi Arabia’s sovereign wealth fund plans to turn about 200 kilometers of Red Sea coastline into a resort boasting luxury hotels and transport hubs, as part of the kingdom’s plan to reduce the economy’s reliance on oil.
The Red Sea project will cover more than 30,000 square kilometers between the cities of Umluj and Al Wajh. It will be developed across 50 “islands in a lagoon,” according to a statement released late on Monday. Tourists from most nationalities will be able to obtain visas to the area online or upon arrival.
The initial groundbreaking is expected in the third quarter of 2019 and the first phase will be completed by the fourth quarter in 2022, including “the development of hotels and luxury residential units, as well as all logistical infrastructure -- including air, land, and sea transport hubs,” according to the statement.
Saudi Arabia is relaxing the rules on its entertainment and tourism industry as part of its Vision 2030 plan, which aims to overhaul the economy. By 2020, the kingdom plans to have more than 450 clubs providing a variety of cultural activities and events. It also aims to double household spending on recreation to 6 percent.
The Public Investment Fund will inject initial investments into the project and start partnerships with international companies, according to state-run Saudi Press Agency.
Despite the election of Democratic Party (DP) candidate Khaltmaa Battulga as president, the Mongolian People’s Party (MPP) will continue to drive the legislative agenda, given its parliamentary dominance. This will ensure adherence to an International Monetary Fund (IMF) bailout package and efforts to stabilise the investment environment.
On 9 July 2017 DP candidate Khaltmaa Battulga secured the presidency in a second round run-off election. Despite the electoral success of the DP in this election, the presidency is a largely ceremonial post and, facing a MPP dominated parliament, Battulga will struggle to materially influence policy during his tenure.
Security risks in Mongolia are generally low, and there is a limited threat of terrorism or civil unrest. Where protests do occur, they are likely to be in connection with political issues and are not likely to turn violent. Mongolia’s foreign policy aims to maintain sound relations with both China and Russia.
However, Battulga’s campaign promised to rebalance the trade relationship with China. China accounts for four-fifths of Mongolia’s yearly exports, and Battulga has raised concerns over China’s strategic interest in the country. Despite this, relations with China are unlikely to materially worsen. Any attempts by Battulga to limit Chinese investment in Mongolia will likely be blocked by parliament, although there will be concerted efforts by the DP and MPP to engage with other countries, including Japan and South Korea.
Mongolia’s economy is likely to experience an uptick in real GDP growth in 2017. A drop in foreign investment in 2016, driven by suppressed global commodity prices and resource nationalist policies, contributed to weak annual growth of 1.1%.
In 2017, renewed investor interest in major natural resources projects, a result of business-friendly policies under the MPP, will drive growth of 2.2%.
Sovereign credit risks remain elevated in Mongolia. Foreign exchange reserves stood at USD 1.2 billion in May 2017, yet USD 1.5 billion in foreign debt is due in 2017 and 2018. However, a three-year USD 434 million Extended Fund Facility (EFF), approved by the IMF in May 2017, will partly ease short-term liquidity risks. The agreement forms part of a broader USD 5.5 billion financing package, provided by the World Bank, the Asian Development Bank and the governments of Japan, Korea and China. Designed to support the government’s Economic Recovery Plan, the package will support foreign exchange reserves and banking sector reform. The package is also expected to enable Mongolia to meet its upcoming debt obligations.
However, stringent fiscal targets associated with the facility will weigh on economic growth. The IMF programme mandates that the budget deficit must be reduced to 1.5% of GDP by 2022, from 17% in 2016. As a result, the government has cut nonessential spending, which could slow growth in the short term.
Battulga’s election campaign focussed on resource nationalist policies. This included a proposal that all mining revenues should be deposited in Mongolian banks. However, foreign mining firms are unlikely to see a return to the hostile business environment seen under the previous DP government. In 2012, the DP government sought to limit foreign ownership by invoking the Strategic Entities Foreign Investments Law, to prevent Chinese firm Chalco from acquiring South Gobi Resource. The MPP has 85.5% of seats in parliament, and has pursued more investor-friendly policies since June 2016. Battulga’s election is unlikely to materially change this.
The MPP government announced plans to enhance the business environment for foreign investors in August 2016, creating a council to ensure legal certainty and resolve outstanding disputes. Attracting foreign investment is central to the government’s economic stabilisation plans, particularly in maintaining the IMF programme and meeting foreign debt repayments. In October 2016, the government approved an intergovernmental agreement with Canada, which will offer additional protections for Canadian investors. In an indication of revived confidence in Mongolia, the second phase of the USD 5.3 billion Oyu Tolgoi copper and gold mine began in mid- 2016 and outstanding disputes over the development of Tavan Tolgoi coal mine are now likely to be resolved....
De Beers, the world’s biggest diamond producer by value, said its unit in Botswana is on track to produce the most since 2014 this year, exceeding its annual production forecast.
Debswana, as the local division is known, will likely produce 22 million carats this year, exceeding its 20.5 million-carat target, Gareth Mostyn, De Beers’s executive head of strategy, said in a July 27 interview in Gaborone, the capital. De Beers, which also has operations in Canada, Namibia and South Africa, kept its total forecast for the year at 31 to 33 million carats.
Global diamond sales edged up 0.3 percent last year to $80 billion as rising demand from the U.S., which accounts for more than half of the world’s purchases, offset declines in India and China, according to a De Beers report in June. The Anglo American unit is forecasting more demand from Asia this year, leading to “marginal” growth.
“The market has been looking quite robust and we have decided to produce in order to supply that,” Mostyn said.
Botswana production has been helped by the return of a 46-year-old processing plant at Orapa, which was partially idled in December 2015 due to weak demand.
Ulaanbaatar /MONTSAME/ On 27 July 2017, H.E. Mr. Sundui Batbold, Governor of Ulaanbaatar and H.E. Pol. Gen. Aswin Kwanmuang, Governor of Bangkok signed the Agreement on Establishment of Sister City Relations between the City of Ulaanbaatar and Bangkok Metropolitan Administration.
The document was signed in Bangkok during the official visit by Governor of the Mongolian capital city to Bangkok, Thailand on 26-31 July 2017. In accordance with the document, the two sides will develop cooperation in the areas of tourism, healthcare, education and sports.
During his visit to Thailand, H.E. Mr. Sundui Batbold, Governor of Ulaanbaatar had official talks with H.E. Pol. Gen. Aswin Kwanmuang, Governor of Bangkok and visited Bangkok City Library, “Chang-Hua-Mun” Royal Initiative Project in Petchaburi province and other places of interest.
Amazon is offering a service that converts Japanese text into audio speech.
The US IT giant says the price will be more competitive than similar Japanese providers.
The service already exists in 24 other languages, for use by companies and smartphone application developers.
It is cloud-based, unlike that of competitors in Japan, and clients won't have to buy software to use it. It will cost about 4 dollars per one-million characters.
Tadashi Okazaki of Amazon Web Services Japan said at a news conference that visually impaired people using the service receive information by listening rather than reading. He said this opens up new possibilities for them.
Amazon officials said their service is using AI technology to analyze massive amounts of audio data, and learn new words and natural intonations.
ULAANBAATAR (Reuters) - Mongolia's coal export trade grew more than fourfold in the first half of 2017, with the country benefiting from China's ban on imports of the commodity from North Korea and curbs on deliveries into smaller ports.
Coal made up around half the country's total export trade over the period, figures from Mongolia's National Statistics Office showed on Monday.
Mongolia, wedged between China and Russia, was forced to turn to the International Monetary Fund for relief from debt pressures following a collapse in foreign investment and a decline in commodity prices.
But China's ban on coal from North Korea, as well as the restrictions on deliveries into smaller ports, has helped boost Mongolia's total earnings from coal to $1.28 billion over the first half.
Minerals comprised 82 percent of all exports during the period, as overall export volumes jumped 41.7 percent from the same period in 2016 to a total value of $3.1 billion.
China has been forced to seek alternative sources of coal after banning imports from North Korea as part of a tougher sanctions regime imposed as punishment for its nuclear missile tests.
Imports have also been banned at small ports from July 1, a move likely to tighten supply of the fuel during summer.
The IMF has pushed Ulaanbaatar to support the diversification of the economy towards agriculture and tourism and help end the boom-bust cycle in the resource-dependent economy.
The European Central Bank (ECB) has called for large fines on EU countries that fail to adopt the bloc’s economic reform recommendations.
In a report published on Monday, the bank expressed concerns over the sluggish pace of economic reform in the eurozone, saying it could hurt the bloc’s longer-term growth and stability.
According to the ECB, governments should be fined up to 0.1 percent of gross domestic product if they repeatedly fail to address economic flaws identified by EU authorities.
The measure is part of a new risk-monitoring system known as the macroeconomic imbalances procedure which was designed to prevent worrisome economic developments such as high current account deficits, unsustainable debt levels, and house-price bubbles.
“There seems to be a strong case for applying the corrective arm of this procedure for all countries with excessive imbalances,” said the ECB.
The EU’s executive arm, the European Commission said the number of countries in which EU authorities have identified “excessive imbalances” is at an all-time high. France, Croatia, Italy, Cyprus, Portugal, and Bulgaria, are among those countries.
In February the commission said that for more than 90 percent of its 2016 recommendations, there had been only “some,” “limited” or “no” progress on implementation. It noted that a very small number of recommendations had been “substantially” or “fully” implemented.
The ECB has explained the failure “is all the more concerning given the remaining rigidities and vulnerabilities in euro area countries.”
According to the central bank, the use of financial sanctions against offending governments “offers a well-defined process ensuring greater traction on reform implementation for the most vulnerable member states.”
Last year, the European Commission warned eight countries, including Italy, that their budgets might fail to comply with EU budget rules.
According to euro regulations, all the member states have to keep their budget deficits at or below three percent of GDP. Spain and Portugal have managed to avoid the fines despite failing to comply.
Ulaanbaatar /MONTSAME/ Oyu Tolgoi released the latest edition of its scorecard updating its performance for the second quarter of 2017 on July 28. Oyu Tolgoi continues to work with safety as its core priority. The All Injury Frequency Rate stood at 0.27 per 200,000 hours worked in the second quarter, as the operations and underground teams maintain significant focus in building a strong safety culture across the business. In Q2’17, 141,800 hours of safety training was delivered to over 11,000 employees and contractors, reports ot.mn.
Armando Torres, CEO of Oyu Tolgoi, said, “The second quarter marked an important milestone for the business the three millionth tonne of concentrate shipped, less than four years after the first shipment was delivered to our customers. This achievement is built on the exemplary efforts and support of our workforce, partners, and shareholders. As we look to the second half of the year, we remain focused on delivering on our business targets for 2017 and maintaining the momentum of the underground project.
“Safety remains our first and foremost priority on this journey – and we continue to work hard to build a lasting safety culture within our business, and beyond.”
Oyu Tolgoi continued to deliver on its commitment to environmental protection and stewardship, particularly in the area of water use with 0.373 cubic metres of water per tonne of ore processed during the reporting quarter, significantly better than the global average of 1.2 cubic metres of water per tonne, and achieved a recycling rate of 88.7 per cent.
Oyu Tolgoi also continued to support sustainable development programmes in Umnugobi with an investment of US$3.1mn over the quarter. The Oyu Tolgoi-funded Bulk Water treatment plant in Khanbogd started operations, and new programmes aimed at improving pasture management and women employment were started in the quarter.
In terms of production, material mined increased 3.5 per cent in Q2’17 vs Q1’17, while grades for the quarter were flat compared to Q1’17. Copper and gold production for Q2’17 was essentially in-line with Q1’17 production despite the planned maintenance shutdown. Sales of copper in Q2’17 decreased 5.6 per cent over Q1’17 due to lower concentrate volumes during the quarter. Gold sales in Q2’17 decreased 28.1 per cent over Q1’17 due to sales in Q1’17 including some higher-grade concentrate from Q4’16.
Turquoise Hill expects Oyu Tolgoi to produce 130,000 to 160,000 tonnes of copper and 100,000 to 140,000 ounces of gold in concentrates for 2017.
Shares of Mongolia Energy Corp Ltd (0276.HK) is moving on volatility today 2.17% or 0.005 from the open. The HKSE listed company saw a recent bid of 0.235 on 1420000 volume.
Investors may be wondering how to tackle the markets at current levels. Many investors may feel like they have missed out on the markets getting to where they are today. It may be a case of missed trades or being too cautious, but a stellar forward thinking strategy may be just what is needed to get back on track. Studying various sectors may help provide some insight on where to go from here. Investors may become very familiar and comfortable with a certain sector, and they may be completely missing out on opportunities from other fast growing sectors. Investors may also need to take a long-term approach which may include creating a diversified portfolio that takes many different factors into consideration. With the enormous amount of uncertainty that follows the global investing world on a daily basis, it may be helpful for investors to be able to keep their emotions in check. Studying the hard data may prove to be very useful when trying to separate truth from fiction in the equity markets.
Taking a deeper look into the technical levels of Mongolia Energy Corp Ltd (0276.HK), we can see that the Williams Percent Range or 14 day Williams %R currently sits at -25.00. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Mongolia Energy Corp Ltd (0276.HK) currently has a 14-day Commodity Channel Index (CCI) of -2.92. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, Mongolia Energy Corp Ltd’s 14-day RSI is currently at 52.45, the 7-day stands at 57.25, and the 3-day is sitting at 66.35.
Currently, the 14-day ADX for Mongolia Energy Corp Ltd (0276.HK) is sitting at 21.84. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend....