1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Mongolia and China considers waste-to-energy partnership www.theubpost.mn

The Mongolian Academy of Science exchanged opinion in regards to building a waste-to-energy plant with China Tianying Company on Monday.

The Chinese side introduced their technology which generates energy in the form of electricity from the primary treatment of waste. They said that energy produced in this manner is clean and renewable and that they have already proposed the plant project to the president’s advisors and the Ministry of Environment, Green Development and Tourism.

“Like many other countries, China now believes that renewable energy can be produced from waste processing. Scientific organizations must propose this idea to decision-makers,” a Chinese representative stated

China Tianying estimates that Mongolia has potential to generate 10 megawatts of energy from processing 500 to 1,000 tons of waste. Mongolia doesn’t have to spend a single penny in this project as long as the Ulaanbaatar Mayor’s Office authorizes it, the Chinese side noted.

At the meeting, President of the Mongolian Academy of Science B.Regdel said, “We’re presently mainly focused on challenges attributed by air pollution. But pollution from waste is as serious and harmful as air pollution because our country buries all of its waste. Buried waste not only rots underground and produces toxic gas but can also pollute underground water resources.”

He stressed the importance of the city administration and government getting advice from scientific organizations on waste management projects based on the world’s top technologies. B.Regdel strongly pushed forward the establishment of a waste-to-energy plant in Mongolia.

“There are many scientists who research waste management solutions for Mongolia. We have many research works already ready,” B.Regdel stated.

 
 
 
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Citizens of Mongolian capital allowed to own land in rural areas for free www.xinhuanet.com

ULAN BATOR, March 8 (Xinhua) -- The citizens of the capital of Mongolia are allowed to own land in rural areas for free, the Department of Land Privatization Management of the Ulaanbaatar Property Relations Agency said in a statement on Thursday.

The citizens of Ulan Bator will be able to privatize up to 5,000-square meter land in rural areas free of charge.

Since 2013, a total of 191,276 residents of the Mongolian capital privatized 100.872 square km of land for family needs. Therefore, it is now impossible to privatize land in Ulan Bator.

The total land area of Mongolia is 1,564,116 square km. But more than half of its three million population live in the capital.

According to law on land allocation, the size of land parcels allocated for ownership for family needs vary depending on location.

In Ulan Bator and along the national level main roads connecting provinces with Ulan Bator, individuals are entitled to up to 0.07 hectares or 700 square meters, while in the province centers up to 0.35 hectares or 3500 square meters, and in administrative subdivisions centers and villages up to 0.5 hectares or 5,000 square meters, respectively.

Foreign citizens and companies can only use land under definite conditions and terms. They are not permitted to own land.

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Mongolia welcomes ROK-DPRK meeting www.montsame.mn

Ulaanbaatar /MONTSAME/ The Ministry of Foreign Affairs has issued a statement, appreciating the high-level dialogue between the Republic of Korea (ROK) and the Democratic People’s Republic of Korea (DPRK).

“Mongolia appreciates the agreement to hold a high-level meeting between the ROK and the DPRK, reached during a meeting between Kim Jong-un, Chairman of the Workers’ Party of Korea and the State Affairs Commission of the DPRK and members of the ROK delegation including a special envoy of President Moon Jae-in on March 5. Mongolia is confident that the high-level meeting will give stimulus to the strengthening of trust in the Korean Peninsula, and furthermore ensuring peace and security in the Northeast Asian region,” the statement says.
Kh.Aminaa

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Top miners seek IPO opportunities as explorations show positive results www.gogo.mn

Several potential IPOs were disclosed during the Prospectors and Developers Association of Canada (PDAC) 2018 convention. Mongolian Metals Corporation and Steppe Gold have expressed their interests in launching IPOs at the mining-focused Toronto Stock Exchange (TSX). Steppe Gold has started a talk for an IPO in the early 2017. The company intensified its exploration projects in Mongolia last year. For instance, they purchased gold exploration permit in Altan Tsagaan Ovoo with USD 9.8 million from Centerra Gold and conducted 4 thousand meter drilling in the area, as well as purchasing Uudam Khundii exploration project in Bayankhongor aimag.

The company announced that it finished the first stage exploration and discovered four new gold occurrences in Bayankhongor. Simultaneously with these projects, the company attracted CAD 45 million (USD 35 million) and commenced the IPO issuance at TSX.

As for Mongolian Metals Corporation, the company purchased a total of 13 exploration licenses in the last 12 years, of which two licenses remaining in effect. It has been actively exploring a 75 thousand hectare in Bayankhongor aimag for the last 8-9 years. Last year, the company announced that it discovered large gold, copper and silver deposit. Presently, the company is raising USD 1 million for its preparation works and exploration projects, and expects to raise USD 3-5 million from the IPO at TSX.

In addition, Xanadu Mines is seeking a dual-listing at TSX. The main deposit of Xanadu is the Kharmagtai project in Umnugobi aimag, which was launched in 2015. Xanadu have cash reserves of AUD 9.1 million (USD 7 million) necessary for the continuation of this project, of which AUD 3.4 million (USD 2.6 million) is allocated for the first quarter of this year.

Mongolian Stock Exchange (MSE) has recently finalized the regulation for dual-listing. In relations to the decision, some sources reported that TSX-listed Erdene Resource Development (ERD) may be seeking an IPO at MSE; however, no official announcement has been made yet.

ERD is actively conducting exploration in Bayan Khunduu, Altan Arrow and Altan Nar deposits and announced that the exploration had high results.

Tugsbilig.B

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Taxpayers expect favorable environment from tax reform www.gogo.mn

“We will put an end to the scenario where entities' bank accounts close due to unpaid taxes, which puts their businesses to a standstill and force them to go bankrupt, further increasing unemployment,” resolutely noted Khurelsukh Ukhnaa, Prime Minister of Mongolia, in a discussion on the tax revision held at Mongolian Chamber of Commerce and Industry on Monday, March 5.

For 30 days starting from February 23, Ministry of Finance is conducting a public discussion on revising 24 tax-related laws, including General Taxation Law of Mongolia, Laws on Corporate Tax, Personal Income Tax and Value Added Tax, in order to hear voices of taxpayers and collect best proposals from the relevant parties. No fundamental changes and revisions were made to tax laws in the last decade.

“Due to economic difficulties and unfavourable business environment in recent years, thousands of companies have closed their businesses. As of third quarter of 2017, about 50 percent of entities had inactive operations, while 20 percent of them reported a loss. This shows that our entrepreneurs and taxpayers are still facing financial difficulties.

Since 2006, Mongolia’s economy grew six-fold. In last December, Mongolia was included on the first ever tax haven blacklist of European Union and immediately got delisted after giving promises to enable its tax environment to meet the EU standards.

In addition, 57.5 percent of all companies that took part in Mongolian Business Environment Survey evaluated the tax environment as “unfavourable” and 28 percent of the surveyors answered that the tax pressure reduction and clear tax policies are the foremost priority.

The draft revision is also simplifying the submission of financial statements of private entities. For instance, entities with less than MNT 50 million annual sales income will be required to submit only annual financial reports, and pay one percent of total revenue to tax, reducing frequency of financial report submission by four times and cutting tax 10 times.

In addition, entities with over MNT 3 billion revenue shall quarterly submit financial statements a year and entities with up to MNT 3 billion income shall submit halfyear reports.

The current Law on Corporate Tax requires all entities to prepare quarterly statements regardless of its scale, deduct 10 percent tax from their sales, and entities with over MNT 2.5 billion revenue to pay 25 percent tax. Furthermore, the draft revisions also dictate to cut 20 percent dividend distribution tax of foreign investors to 5 percent.

According to the information given by Khurelbaatar Chimed, Minister of Finance, no-risk bearing companies will not be a subject to financial inspections. Risk assessment will be done based on financial statements of companies and the inspection will be conducted afterwards. As he highlighted, another major change proposed by the laws is the protection of taxpayers’ interest. “If a taxpayer suffers as a result of errors made by a tax inspector, the inspector will be responsible for his action by not serving for 10 years in the public service,” noted Mr Khurelbaatar.

The Ministry of Finance considers that the revisions to tax laws will bring more favourable and healthy tax environment in the country.

In the beginning of this year, the International Monetary Fund’s staff team worked together for two weeks on formulating the draft of the Revision to the General Taxation Law. The Ministry of Finance believes that the bills will be presented to the Parliament by April and take effect starting from January 2019.

Oyunbayar.N

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USD 1 billion soft loan may be settled during PM's visit to PRC www.gogo.mn

Prime Minister Khurelsukh Ukhnaa is planning an official visit to People’s Republic of China (PRC) between April 10 and 13. Mongolia’s key gateway of raw materials export, Gashuunsukhait- Gantsmod border checkpoint, has been operating on half-capacity since last July, drastically reducing coal sales of Mongolia. As for June 2017, the coal export reached 3.9 million tons, which went down to 2.2 million tons in July due to implicit sanction.

In October 2017, Prime Minister Khurelsukh has received Ambassador of PRC to Mongolia Xing Haiming and requested to focus on settling the implicit economic sanction. Thus, the Minister of Foreign Affairs of Mongolia Tsogtbaatar Damdin paid a visit to PRC in early-December, which helped reduce inspection to coal and increase exports amount. As a result, the coal export has reached 3.2 million tons in November and December respectively. During the visit, the Foreign Minister signified the importance of frequent high-level visits and agreed on organizing the PM’s visit to PRC.

Mongolia-China business forum on trade and economic cooperation to take place

Whether to reconcile the unsettling relations between the two countries and expand comprehensive strategic partnership will be decided during this visit. In addition, President of PRC Xi Jinping has agreed to provide USD 1 billion soft loan during his visit to Mongolia in 2014. If Mongolia finalizes the investment plans, USD 1 billion worth investment will be released. Furthermore, within the frame of PM’s visit, Mongolian National Chamber of Commerce and Industry (MNCCI) will co-organize Mongolia- PRC business forum on trade and economic cooperation with China International Economic and Trade Arbitration Commission. Representatives of private entities willing to participate in the forum can register at MNCCI until March 10.

On the side note, Minister of Road and Transport Development Bat-Erdene Jadamba paid a visit to PRC in February, and negotiated on settling the finances of Tavan tolgoi-Gashuunsukhait railroad development within the frames of increasing mining exports and supporting economic development of Mongolia. Sides also agreed on establishing new airway in the second half of 2018. As for actions on reducing loads at Zamiin-Uud- Erlian border crossing, sides touched upon the issues of implementing Zuunbayan-Khangi route railroad project and establishing Khangi-Mandal border crossing.

PM’s first visit to the PRC may settle the above-mentioned issues and the PM will sign the Agreement on Transport of Freight to Pacific Ports in the PRC through the Zamiin-Uud-Erlian port.

Davaatogtokh.B, Tugsbilig.B

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WHO releases policy brief on Mongolia's air pollution www.gogo.mn

Mongolia’s air pollution level is 6-10 times higher than those considered safe by the World Health Organization (WHO) air quality guidelines. According to WHO, the data from 2011 to 2015 shows that annual mean concentrations of PM has been decreasing, however, annual mean concentrations are around 2-3 folds higher than the national guideline values. Other pollutants such as SO2 have progressively augmented in the last twenty years and NO2 values have remained high.

Last decade, a couple of surveys on ambient and household air pollution and its impact were locally conducted and findings of these surveys have been used for evidence-informed decision making. A joint research team of Mongolia and Canada estimated in 2011 that 29 percent of cardiopulmonary deaths and 40 percent of lung cancer deaths in Ulaanbaatar city are attributable to ambient air pollution.

The 2017 National Program on Reduction of Air and Environmental Pollution provides a roadmap to decrease air pollutants by 80 percent, prohibit the use of unprocessed coal anywhere except for thermal power plants in Ulaanbaatar, and reduce air and environmental pollution by at least 50 percent by 2025. WHO reviewed that it is crucial to conduct systematic assessment of the sources of air pollution, and identify the most effective interventions to eliminate or control them.

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Selection of road concession overruled www.montsame.mn

Ulaanbaatar /MONTSAME/ On March 7, in its regular meeting the Cabinet decided to delist Project on 204.6 km Road Renovation in route Ulaanbaatar and Darkhan from the List of State Property Concession and overrule the concession selection.

According to general financing agreement between Government of Mongolia and Asian Development Bank, renovation works of 204 km road in route Ulaanbaatar and Darkhan and 113 km road in route Darkhan-Altanbulag will be made within the framework of projects and programs to be implemented with allocated loan capital in 2017-2018. Therefore the concession selection has been overruled. Ulaanbaatar-Darkhan road will be first class road with cement concrete paving and having 4 lanes.

B.Batchimeg

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Industrialization 21:100 is under implementation www.gogo.mn

One of the national programs commencing this year is Industrialization 21:100 that was approved by the cabinet in late January. The program will cover all sectors, except the mining, such as agriculture, light industry, construction and steel industries. Within the frame, 100 factories that will manufacture export-oriented and import-substituting products will be established. According to an initial estimate, the program will require approximately MNT 1.4 trillion investment, produce over six thousand workplaces and will be implemented in two phases from 2018 to 2019 and from 2019 to 2020.

It is decided that the projects will be financed from local and state budget, foreign soft loans and aids.

The goal of the program is to develop sustainable and competitive industrialization involving value added production, meeting international quality and standardization requirements and market economy demands by introducing advanced technology, based on the local community features and resources. In addition, it is believed that it will increase number of workplaces, circulation of domestic and foreign trade and economic growth.

As of the end of 2016, total sales of the industrial sector resulted MNT 11.06 billion and out of this, 20.3 percent or MNT 2.3 billion was accumulated from the processing sector. This is 8.1 percent of the country’s GDP or 3 fold lower compared to middleincome countries.

In accordance with the results of a study conducted by the United Nations Industrial Development Organization, the country’s structure of industrial sector is highly dependent on raw materials of mining and agricultural sectors based on simple technology, and about 95 percent of export products are subject to only the first stage processing. This shows that the real value added production, which is the base of sustainable development of any country, is very poor in Mongolia.

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Russia to open 3 polling stations in Mongolia for presidential vote www.xinhuanet.com

ULAN BATOR, March 6 (Xinhua) -- Russians who live in Mongolia will be able to participate in the March presidential election at three polling stations here, Rygzyn Rakshaev, minister-counsellor of the Russian Embassy in Mongolia, said Tuesday.

Over 1,300 permanent and temporary Russian residents can vote at the polling stations from 8 a.m. local time (0000 GMT) to 8 p.m.(1200 GMT), the diplomat said.

The Russian presidential election will be held on March 18. There are eight candidates running for president this year, including incumbent President Vladimir Putin, who is running as an independent candidate.

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