|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
President Donald Trump is negotiating with China on trade while the Trump Organization is involved in a deal linked to a Chinese developer.
A state-owned Chinese construction company, MCC Group, said last Thursday it had formalized plans to develop a theme park in Lido, Indonesia. The park is part of a broader project called MNC Lido City, and the Trump Organization has existing licensing agreements for other components of the project.
The Trump Organization in 2015 said it would partner with MNC Land, the Indonesian developer in charge of the project, to put the Trump name on a golf course, luxury hotel and residential development on the premises.
The company said on Tuesday its licensing deals are separate from the China-backed development of the theme park.
"The theme park project is wholly owned by MNC Land and has no relationship to the Trump Organization," the company said in a statement. "MNC Land's relationship with the Trump Organization consists of management agreements that were signed in 2015 for luxury hospitality and residential projects owned by MNC Land at MNC Lido City and MNC Bali Resort." (The Trump Organization also partnered with MNC on a resort in Bali, Indonesia.)
When asked for comment, MNC provided the same statement as the Trump Organization.
China's commitment to the Indonesian project comes as Trump and his administration are engaged in high-stakes talks with Beijing on trade.
On Sunday, in a move that surprised many, the president tweeted that he's working with Chinese President Xi Jinping to help Chinese state-controlled phone and telecom equipment maker ZTE get back into business, adding the "Commerce Department has been instructed to get it done!"
ZTE (ZTCOF) said last week that it halted its main operations after the Trump administration banned American companies from selling it vital components.
Negotiations are ongoing, Trump said Tuesday morning. Chinese Vice Premier Liu He is scheduled to be in Washington Tuesday through Saturday for a second round of trade talks amid escalating threats of sanctions.
Trump isn't in charge of the Trump Organization anymore, but he has not sold his ownership stake in the company. His sons, Donald Jr. and Eric, took the reins of the company after their father took office and stepped away from his business empire.
But ethics experts have questioned how effective Trump has been in separating himself from his businesses and potential conflicts of interest.
"He hasn't done what everybody else did for 40 years — Republicans and Democrats — and set up a blind trust," said Norm Eisen, the former ethics chief for President Barack Obama and a CNN contributor. "He's simply maintained ownership of his properties."
(Eisen is involved in lawsuits against Trump alleging that the president's acceptance of payments and other benefits from foreign governments is in violation of the Constitution.)
A Chinese construction company has formalized plans to develop the theme park, which is part of a project for which the Trump Organization has licensing agreements.
The Trump Organization has been involved in the Lido project, which is less than 50 miles from Jakarta, since at least 2015. The company reported income from the partnership in 2016 and 2017.
"Trump Hotel Development is involved in the master plan of this spectacular development, which will include the first Trump golf course in Asia as well as a world-class spa, luxurious hotel and residences," Donald Trump Jr., said in a statement in September 2015.
In the same press release, MNC CEO Hary Tanoesoedibjo touted what he called an "integrated lifestyle resort destination," and noted MNC's plans to develop Indonesia's first "world-class" theme park in addition to the Trump luxury properties.
In June 2016, MNC said that it had secured an agreement with the Chinese construction firm, MCC, to design and build "a world-class integrated theme park resort in Lido."
Last week, MCC said that subsidiary China Jingye had finalized the deal.
China's interest in building the theme park is connected to its One Belt, One Road initiative, which seeks to expand China's international footprint by pumping hundreds of billions of dollars into railways, roads, ports and other projects across Asia, Africa and Europe.
MCC did not immediately respond to a request for comment on Tuesday about the deal, or whether the timing is related to negotiations with Trump on trade.
-- CNN's Cristina Alesci, Melanie Schuman, Laura Dolan and Ivan Watson contributed to this report.
CNNMoney (New York)
First published May 15, 2018: 10:11 PM ET
During his visit to Mongolia, Chairman of the Government of Russia’s Tuva Republic Sholban Kara-ool was received President Kh.Battulga on Monday at the State Palace to discuss relations and cooperation between Mongolia and Tuva.
Kara-ool pointed out that Tuva is interested in strengthening bilateral relations in roads and transportation, trade and economic cooperation.
During the meeting, the sides exchanged views on an ongoing project to build a railway connecting Kyzyl, the capital of Tuva, with Tsagaan Tolgoi port at the Mongolian and Russian border, which was agreed to become the northern part of the railway corridor during the Eastern Economic Forum held in Vladivostok, Russia in September 2017.
The parties unanimously agreed that the two nations should strengthen regional and mutually beneficial cooperation, and promote business and people-to-people relations.
Minister D.Tsogtbaatar met with U.S non government and private sector representatives operating in Mongolia www.mfa.gov.mn
On May 11th, 2018 H.E. Mr. D.Tsogtbaatar, Minister for Foreign Affairs of Mongolia met with country directors and representatives of U.S Peace Corps, the Asia Foundation, the International Republican Institute, the American Chamber of Commerce in Mongolia, the World Learning and the Mercy Corps. Chargé d’Affaires a.i. Mr. Manuel P. Micaller of the U.S Embassy in Ulaanbaatar was also present at the meeting.
During the meeting organizations have introduced the current works they are implementing and the works they are planning to implement in Mongolia. Minister D.Tsogtbaatar noted that the relations between the two countries should not only be an intergovernmental partnership, but also a broader humanitarian relationship between the two people. In this context, the activities of the organizations contribute in enriching the bilateral relations between Mongolia and the U.S and the Minister thanked the organizations for their contribution to Mongolia’s socio-economic development.
The two sides exchanged views on supporting volunteerism in Mongolia, continuing the “LEAD Mongolia” program, expanding the private sector cooperation between the two countries, implementation of beef export promotion project and other potentials and new opportunities of cooperation. The two governments expressed their support and willingness to cooperate within these works.
D.Tsogtbaatar, Minister of Foreign Affairs of Mongolia is to visit the Russian Federation on 16-17 May at the invitation of his Russian counterpart Sergey Lavrov.
During the visit, the Foreign Affairs Minister is expected to hold talks with senior Russian officials and exchange information on the implementation of the Mongolia-Russia Medium-Term Strategic Partnership Programme.
In addition, the two sides will discuss a wide range of issues including deepening bilateral cooperation in the areas of trade, economy and investment, as well as intensifying trilateral cooperation between Mongolia-Russia-China and studying possibilities for starting cooperation between Mongolia and the Eurasian Economic Union.
Ulaanbaatar/MONTSAME/ On May 15, the Ministry of Mining and Heavy Industry called its regular press briefing ‘Transparent and Accountable Mining’. At the press conference, the Mining and Heavy Industry Minister D.Sumiyabazar briefed about first four months’ statistical review of the sector.
According to the first four months of 2018, gross production of industrial sector reached MNT 4.5 trillion, with an increase of MNT798.8 billion (21.5 percent) as compared with the same period of the previous year.
The production of mining and extractive industries increased by MNT567.9 billion (21.0 percent), which was mainly influenced by the increase of extractions of coal (35.4 percent) and metal ores (14.6 percent). Extractive industry makes up 72.3 percent in the gross production of industrial sector.
Major commodities of mining and extractive industries include 14.9 million tons of coal, 445.4 thousand tons of copper concentrate, 2.9 tons of gold, 1.8 thousand tons of molybdenum concentrate, 1.0 million tons of iron ore concentrate, 21.3 thousand tons of spar concentrate, 30.0 thousand tons of zinc concentrate, 2.3 million barrels of oil and 4.8 thousand tons of copper cathode.
As of the first four months of the year, the sector accumulated MNT694.8 billion to the state budget as taxes, fees and royalties. MNT 11.5 billion was accumulated from gold mining, MNT 255.8 billion--from coal, MNT 37.7 billion -- zinc, MNT 352.0 billion --copper, MNT 8.3 billion --iron, MNT 4.6 billion --fluorspar and MNT 25.0 billion from others. The income accumulated to the state budget increased by MNT 229.8 billion or 1.5 times, compared to the same period of the previous year.
In 2018, it is planned to extract 8.1 million barrel or 1.1 million tons of oil, accumulating MNT223.4 billion at the state budget. As of May 11, it has extracted 2.44 million barrel or 310 thousand tons of oil, with a 30.16 percent fulfillment of the plan. Moreover, 2.38 million barrel or 300 thousand tons oil were exported. As of April 30, the oil export brought MNT73.4 billion to the state budget.
The Mongolian government has been working closely with ADB since 1991. Over the past 17 years, Mongolia received 2.34 billion USD from ADB, according to Raushan Mamatkulov, the head of the Project Administration Unit at the ADB Mongolia Resident Mission. This is equivalent to 0.07 percent of ADB’s overall operation costs.
ADB operations in 67 countries, 48 in the Asia Pacific region, totaled 32.2 billion USD, including 11.9 billion USD in co-financing, last year.
As of March 31, 2018, the Mongolian government received 2.14 billion USD in loans (58 concessional loans and 14 ordinary capital resources), 103.8 million USD through 107 technical assistance and grants, 101.6 million USD in project and technical assistance co-financing, 94.5 million USD in non-sovereign loans (four loans), and 101.5 million USD in grant funding from the Japan Fund for Poverty Reduction.
To date, 38 loans and grants have been distributed to Mongolia through 29 projects with the total net amount of 1.15 billion USD. Currently, there are 43 ongoing technical assistance, 14 of which were approved in 2017. These assistances are worth 9.7 million USD. The total value of all ongoing technical assistance amount to 42.92 million USD and if we look closer at their allocation, 24 of them are for capacity building, 11 for project preparatory, seven for policy advisory, and one for regional technical assistance.
Loans and Grants approved in 2017
Last year, ADB projected almost 400 million USD for six new and ongoing projects.
No Project Name Amount (million USD) Source
1 Social Welfare Support Program, Phase II (PBL) 150.0 OCR
2 Banking Sector Rehabilitation and Financial Stability Strengthening Program 100.0 OCR
3 Ulaanbaatar Urban Services and Ger Areas Development Investment Program (Tranche-2) 67.85 OCR
4 Sustaining Access to and Quality of Education During Economic Difficulties Project 50.0 COL
5 Ensuring Inclusiveness and Service Delivery for Persons with Disabilities Project 25.0 COL
6 Community Vegetable Farming for Livelihood Improvement 3.0 JFPR
7 Ensuring Inclusiveness and Service Delivery for Persons with Disabilities 2.0 JFPR
OCR = ordinary capital resources, COL = concessional OCR lending, JFPR = Japan Fund for Poverty Reduction, PBL = policy-based loan
World’s No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies’ investment decisions.
Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook. However, he mentioned volatility in markets, trade wars and governments efforts to get greater share of their mineral wealth — most times to the detriment of private companies — as growing concern for investors in the natural resources sector in the short-term.
Last year, Rio Tinto was responsible for half of the total cash returns across the mining sector.
“From the DRC and South Africa to Mongolia and Australia [resource nationalism] is gaining momentum,” he said, adding he was optimistic that common sense in all those cases would prevail.
Major miners operating in the Democratic Republic of Congo, Africa’s top copper producer and source of over 60% of the global cobalt supply, are vigorously fighting a new mining code. The fresh legislation strips away a stability clause protecting existing investments from changes to the fiscal and customs regime for 10 years, introduces a 50% windfall profits tax and gives powers to the mines minister to hike royalties on minerals considered “strategic”.
It all began in Indonesia, which imposed new rules on the exports of unprocessed ore early last year. Tanzania followed suit imposing two months later a ban on exports of gold concentrates. Something similar happened in South Africa, which last year unveiled a revised mining code that would have imposed a 1% tax on mining companies’ revenues – as opposed to their profits, as is common.
In Mongolia the government claims that Oyu Tolgoi, a copper joint venture run by Rio, owes $155 million in unpaid taxes. A claim the company denies.
Miners are also facing higher costs, Jacque said.“In this environment, asset quality really matters and operating capability is critical. Protecting margins and generating cash will be hard across the industry.”
Rio’s boss said that, despite the challenges, the industry should continue its efforts to keep costs and debt under control and so deliver better returns to shareholders.
“This is why we are actively shaping our portfolio to focus on the best assets…… in commodities with sound long-term fundamentals. This will further drive sector leading return on capital employed,” he said, adding that last year Rio Tinto was responsible for half of the total cash returns across the sector.
ULAN BATOR, May 15 (Xinhua) -- The number of people who have tested positive for HIV rose to 260 in Mongolia after five new cases were registered in April, the National Statistical Office said in a report Tuesday.
More than half of the HIV-infected people are between 20 and 44 years old. About 99 percent of the infections were sexually transmitted, the report said.
The first case of HIV infection in Mongolia was recorded in 1992. Since then, 40 people have died of AIDS in this Asian country with a population of over 3 million.
Ulaanbaatar /MONTSAME/ The launching of the Sustainable tourism and Inclusive Economy of Mongolia project was held on May 14. The National Development Agency, Thailand International Cooperation Agency (TICA) and Integrated Mineral Resources Initiative program (IMRI) of German Agency for International Cooperation (GIZ) started the project in January, 2018.
The 2.5-year project aims to develop local community-based tourism. This is a good way for people to improve their income by introducing their traditional lifestyle to foreign tourists while restoring and preserving the forgotten heritage. The project will be implemented in Bayankhongor, Uvs and Selenge aimags in cooperation with the world’s tourism leader, Thailand.
Deputy Director-General of TICA Banchong Amornchewin said “I am delighted to share Thailand’s experience, achievements and advantages in tourism sector with Mongolia. Last year, Thailand welcomed 35 million tourists. Bangkok is the leader in attracting international tourists, followed by London. We will share not only the achievements, but also the failures we experienced.”
Total budget of this project is about EUR 500.000 and 200.000 will be funded by the German Government, another EUR 200.000 by the Government of Thailand and EUR 50.000 by Mongolian Government.
Rising Mobile Broadband Penetration Continues to Drive Mongolia’s Telecoms Market www.theexpertconsulting.com
An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Mongolia – Telecoms, Mobile and Broadband – Statistics and Analyses“. This report provides a comprehensive overview of trends and developments in Mongolian telecommunication market. Mongolia possesses a liberalised and competitive telecoms market served by multiple competing players and an incumbent operator that no longer holds a dominant share of its market. The growing popularity of mobile broadband has underpinned overall broadband and telecoms growth. This trend is consolidating Mongolia’s position as a “mobile first” telecoms market and shaping the future direction of Mongolia’s developing digital economy.
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Mongolia is ranked 14th out of 34 with a Telecoms Maturity Index score of 42. This ranks Mongolia 7th last in the “Market Challengers” category. (BuddeComm’s “Asian Telecoms Maturity Index”, is an index (on a scale between 0 and 100) that measures and ranks the relative maturity of the telecoms industry in all of the 34 countries in Asia.) Compared to other Asian nations, Mongolia has moderate mobile penetration, moderate mobile broadband penetration and low fixed broadband penetration.
The penetration of fixed lines in Mongolia has increased strongly over the past five years as a higher proportion of residences decide to take a fixed line access option. Penetration is however predicted to only increase slightly over the next five years to 2022. There is a continued migration from fixed-line services to mobile operators that have a much higher availability in the rural areas and access to applications and services in the urban areas.
Fixed broadband penetration in Uzbekistan remains low mainly due to a limited number of fixed lines and the dominance of the mobile platform. However the market has grown very strongly over the past five years from a very small base. Over the next five years to 2022 moderate growth is expected to continue. A major driver of broadband growth among the general population will be affordable access to relevant content.
Mongolia’s mobile market has experienced relatively slow growth over the past five years in a relatively mature market. High mobile penetration levels in Mongolia are also indicative of healthy competition. Slow to moderate growth is predicted over the next five years to 2022. The market will be constrained from higher growth due to strong local competition and a further maturing market.
Browse Full Report with TOC- https://www.marketresearchhub.com/…/mongolia-telecoms-mobil…
Mobile broadband has become an increasingly attractive proposition due to the increasingly faster speeds offered coupled with improving tariffs due to strong competition among the four mobile network operators. Mobile broadband subscriptions grew rapidly commencing in 2012, with this growth attributed to the increasing popularity of 3G mobile broadband products.
The launch of 4G LTE services by all the major operators will see the uptake of mobile broadband customers continue to grow strongly over the next five years to 2022.
In May 2018 South Korea’s KT Corp completed the sale of its 40% stake in Telecom Mongolia back to the Mongolian government.
The penetration of fixed lines in Mongolia has increased strongly over the past five years.
Over the next five years to 2022 moderate growth is expected to continue in the fixed broadband market.
The launch of 4G LTE services will see the uptake of mobile broadband customers continue to grow strongly.
MobiCom launched its first LTE-A services.
South Korea’s KT Corp completed the sale of its 40% stake in Telecom Mongolia back to the Mongolian government
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