1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Building an Entrepreneurship Ecosystem for Women in Mongolia www.asiafoundation.org

For many Mongolians, the booming capital, Ulaanbaatar, is synonymous with economic opportunity and a new life. Half the population now lives in the capital, most of them in the so-called ger areas, unplanned districts often lacking essential infrastructure like water and electricity and isolated from commercial activity. Starting a business here and keeping it running is hard, and even harder for women. Yet, with women comprising nearly 40 percent of the country’s entrepreneurs, Mongolia’s economic future is tied to their ability to participate in the marketplace.

While the female-to-male ratio of labor-force participation in the formal sector is relatively high in Mongolia compared to other countries in the region, women in business still face steep challenges in acquiring business skills, developing networks, and securing financing.

Take 27-year-old Undrakh, who started her handicraft business several years ago in her home but struggled to sell her products. Although full of passion, she lacked the skills at the outset to keep accounts, market her products, establish sales channels, and understand customer feedback—it was all uncharted water. Living in a ger area, she faced the constant challenge of traveling with large and unwieldy baskets to deliver to customers, a few at a time, in the city center.

Fast-forward to today, and Undrakh has a registered LLC with a well-appointed studio office in the center of Ulaanbaatar, two assistants, and a steady stream of regular orders from bigger businesses.

Undrakh is one of 28 graduates of Mongolia’s first-ever Women’s Business Center and Incubator Project, funded by the Korea International Cooperation Agency (KOICA) and The Asia Foundation’s Lotus Circle. The WBC supports a growing number of women business owners like Undrakh by providing high-quality business support services and an enabling environment for women entrepreneurs.

Since opening in 2016, the WBC has trained over 5,000 women and developed a regular client base of 2,000 entrepreneurs. For clients like Undrakh, the center is valuable not only for its high-quality business support and development services, but also for its open environment, where women from all walks of life gather to share information and exchange ideas.

While business-support centers do exist in Mongolia, the WBC stands alone in addressing the unique needs of women entrepreneurs, particularly single mothers and those with disabilities or from low-income groups. Close partnerships with grassroots service organizations allow the project to attract participants from marginalized communities, who are typically excluded from capacity-building efforts. Services include basic and intermediate business training and one-on-one advising, finance training and consulting, a coworking space, a business library, and a children’s playroom.

The WBC’s flagship initiative is an accelerated business incubator providing an intense four-month, tailored, business-development program to selected women entrepreneurs. The incubator offers participants a wide range of opportunities with practical, positive outcomes. Five to nine women are chosen for each class—28 women have graduated from the incubator to date—and the selection process has become increasingly competitive.

The program provides four stages of intensive business support: product development, identifying target clients and developing marketing strategy, achieving successful market penetration, and establishing binding contracts with investors and larger vendors. Incubator participants also have access to regularly organized pop-up-shop events and other sales or investment opportunities. Those without their own office may use the incubator at no cost while in the program. This four months of intensive development becomes a platform for networking and companionship, and alumni often return to the center to help other women.

The WBC has been recognized domestically and internationally, most recently by a visit from President Khaltmaagiin Battulga on May 14. The president met with incubator graduates to discuss their challenges and achievements, viewing their various products and expressing support for women’s economic empowerment.

The WBC’s social impact can be measured in the lives of its clients: women who are creating employment opportunities for other women, shifting from informal cottage enterprises to formal businesses, and experiencing higher self-esteem and improved status in their communities. As the most active network of women entrepreneurs in Ulaanbaatar, the WBC is helping to create a vigorous ecosystem of Mongolian women entrepreneurs.

Amarzaya Naran is The Asia Foundation’s project manager for the Women’s Business Center and Incubator Project in Mongolia. She can be reached at amarzaya.naran@asiafoundation.org. Soomin Jun is the Women’s Business Center and Incubator Project consultant in Mongolia. She can be reached at soomin.jun@asiafoundation.org. The views and opinions expressed here are those of the authors and not those of The Asia Foundation.

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First dual registration approved www.montsame.mn

Ulaanbaatar /MONTSAME/ On May 23, at the meeting of the Financial Regulatory Commission the request from Erdene Resource Development Corp. (TSX:ERD) for dual registration of shares on Mongolian Stock Exchange was approved. The company listed on Toronto Stock Exchange requested to register 4 million shares worth of CAD 1.2 million.

The introduction of new product into the Mongolian stock market opens up a door for more than 30 mining companies operating in Mongolia, but listed on foreign stock exchanges to trade their stocks here. It will allow the public to become shareholders and benefit from natural resources. In addition, it will be a step forward to the development of Mongolian stock market towards the global benchmark.

B.Misheel

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Discovery minerals LTD. signs agreement on Mongolia gold www.news.mn

Discovery Minerals Ltd. has signed an agreement for its Mongolia Gold Project. The Board of Directors is pleased to announce that after several months of negotiations an agreement has now been executed with Canadian company Meritus Minerals Limited.

Discovery will now embark on an intense programme to bring the project into production as soon as possible. The Project has already been granted a 30 year Mining Permit which will shorten the lead up time to go into bullion production.

“The drilled target at Gutain Davaa has a resource that has excellent potential to be expanded to about 500,000 ounces of gold and possibly more. Other targets on the mining license have potential to add resources of similar grade.

District wise there is excellent potential to locate substantial gold resources of similar nature to those at Toordogiin Shil, or possibly large tonnage lower grade resources similar to those at Boruu and Gasurt. There is a high chance of the district turning into a new gold camp.

Providing MMGL is able to work with the Soum authorities and enter into arrangements with them that are of distinct benefit to the local community, there is an excellent probability that MMGL will be able to establish itself as the preferred operator within Batshireet Soum and have advantages in obtaining new exploration titles.”

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National currency appreciation indicates positive economic tendency www.montsame.mn

Ulaanbaatar /MONTSAME/ The Central Bank presented Mongolia’s economic review today as of the first four months of 2018.

Money supply reached MNT 16.2 trillion and money flow rose by 30 percent compared to same period of the previous year. Savings grew by MNT 144.5 billion and Tugrik savings make up 55 percent of it whereas dollar savings have decreased.

Investment worth USD 547.9 million was made in Mongolia in the first quarter of 2018 and most of it went to mining sector. Balance of payments had MNT 42.2 million deficit, however, it is a decreased amount compared to 2017.

Generally, according to the four months' review, money supply and value of tugrik are rising as well as amount of consumption loan increases, highlighted the Bank of Mongolia.

B.Batchimeg

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Mongolian visa issuance regulation facilitated www.montsame.mn

Ulaanbaatar/MONTSAME/ Mongolian visa issuance regulation has been facilitated. A single and double-entry visa for up to 90 days of ‘H’ classification will be granted without permission to emigrants, foreign national born from Mongolian citizen and their family members. ‘H’ visa is issued for a foreign national who is to visit for private purpose.

In case the foreign investor, foreign national who is to work in public or inter-governmental organization and family members of these people reside in Mongolia, getting a visa prior to arrival was necessary. According to the new modified regulation, temporary visitors /J-tourism, B-business and H-private purpose categories/ will be permitted taking their residence application into consideration.

It also includes many improvements, such as availability of applying visa and invitation requests online. 
It aims at creating favorable condition to issue visa to foreign investors, emigrants and foreign nationals born from Mongolian citizens, facilitate visa issuance conditions and deliver public services promptly.
In addition, the Cabinet approved a renewed regulation on ‘Residence of foreign nationals in Mongolia and the registration’.

M.Unurzu

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Cabinet plans privatising MIAT and other key state assets www.news.mn

Earlier today, the Mongolian Cabinet discussed privatisation of certain key state entities.

The cabinet has approved a plan to privatise over 18 state-owned enterprises including 49 percent of MIAT, the State Bank, the Mongolian Stock Exchange, Telecom Mongolia, the Information and Communication Network, the Mongolian Commodity Exchange and the Mongolian Securities Clearing House. In addition, 20 highway maintenance companies operating in the provinces will be privatized. The proposal will now be discussed by parliament.

However, the cabinet decided to postpone and reconsider the privatisation of 30-40 percent of Thermal Power Plants III and IV, which are strategically important for Ulaanbaatar, the world's coldest capital, and the lives of the people who live there.

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Russia & other countries can demand $3.5bn in compensation from US over tariffs www.rt.com

Turkey, Japan and Russia have calculated how much US tariffs would add to the cost of steel and aluminum exports to America, and submitted their claims to the World Trade Organization.

The countries followed similar moves by the European Union, India and China. Russia estimated that it would lose $538 million because of the US tariffs, which President Donald Trump imposed in March. Japan reported $440 million, while Turkey added a further $267 million.

Earlier, China, the EU and India estimated their losses at $612 million, $1.6 billion and $165 million respectively. The countries that have turned to the WTO say the tariffs – 25 percent on steel and 10 percent on aluminium – cannot be explained by the US security concerns, the issue on which Washington is basing its actions.

Under WTO rules, if any country seeks to cut its imports, thus protecting local producers, it should compensate its trade partners with a net increase in imports of other goods. Washington has refused to do so. Japan and Russia have not provided the details on retaliation, but Turkey has said it would target 22 American goods, ranging from nuts, rice and tobacco to cars and steel products.

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IPTV accounts for 11.7 percent of telecommunications revenue www.ubinfo.mn

Communications Regulatory Commission of Mongolia informed that the total number of Internet Protocol television (IPTV) users increased to 241.7 thousand by the end of 2017, which is 27.7 percent higher than the previous year.

According to the report, IPTV made up 11.7 percent of the total revenue in the mass media and communications sphere. Information and communications technology has rapidly improved the lives of people and the number of cable television channels drastically increased in recent years. It has been a while since the Over-the- Top technology was introduced to the public. For instance, based on this technology, the Unitel Group launched LookTV service, which enables users to access the media contents through their mobile phones and notebooks.

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Mongolia – EU – ILO project on labor launched www.montsame.mn

Ulaanbaatar /MONTSAME/ The International Labor Organization (ILO), government agencies, Mongolian Employers’ Federation (MONEF), Confederation of Mongolian Trade Unions (CMTU) and labour right advocates gathered on May 22 to discuss their joint action on forced labour, child labour and trafficking in persons for labour exploitation.

Since 2015, the ILO has received financial support from the European Union to implement core labour standards to realize decent work and support Mongolia’s bid for economic diversification. Aligning national labour laws and regulations with international standards is central in this partnership. The EU has provided further support to ILO-Mongolia cooperation to implement the project on ‘Sustaining GSP-Plus Status by Strengthened National Capacities to Improve ILS Compliance and Reporting-Mongolia Phase 2’, which promotes greater understanding about trafficking in person for labour exploitation and alignment of national laws and policies with the ILO Protocol of 2014 to the Forced Labour Convention, 1930 (No. 29).

Forced labour in its modern form is widespread. According to the ILO’s Global Estimates of Modern Slavery, trafficking in persons for labour exploitation in the private sector is on the rise and that there are about 16 million victims at any given time. The global community, including Mongolia, is committed to “tak[ing] immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers and by 2025 end child labour in all its forms.” The Alliance 8.7 supports countries around the world to share knowledge and experiences.

A panel discussion on national response to trafficking and labour exploitation at the GSP+3 project launch welcomed action to tackle trafficking in persons for labour exploitation. Greater awareness about forced labour, labour exploitation and knowledge of international good practices on preventative measures and victim protection would contribute to improved services to protect both Mongolian and migrant workers in Mongolia and Mongolian workers going abroad. The ILO was recommended to implement the project with the stakeholders of Mongolia’s National Programme to Combat Human Trafficking (2017 -2021).

The details and progress on project implementation are available at the project office in Ulaanbaatar. The EU-ILO-Mongolia partnership for this project is within the framework of the EU’s action to support GSP+ beneficiary countries to effectively implement international labour standards and comply with their reporting obligations.
source: ILO

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Rio Tinto to Mongolia: Back Off if You Want More Investment www.investingnews.com

In a presentation at the Mongolia Economic Forum on Monday (May 21), Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) copper and diamond chief executive, Arnaud Soirat, handed out advice to Mongolia’s leaders on how to attract — and keep — foreign investment.

In short: stick to the rule of law and don’t meddle in projects, or investors and their money will flee.

Soirat described Rio Tinto’s multi-billion dollar Oyu Tolgoi copper mine as a “test case for future investment in Mongolia,” and noted that the world is watching what the government is doing.

The company has been experiencing difficulties in Mongolia over the last few months, with delays in the construction of an underground expansion weighing down profits. What’s more, it’s faced extra tax bills from the government and changing demands on power supplied to the mine.

The forum Soirat was presenting to was attended by the highest-ranking members of the government, including the president, the prime minister and members of parliament — which has been in dispute with mine operators this year.

Rio Tinto is the operator of Oyu Tolgoi through Turquoise Hill Resources (TSX:TRQ), and the Mongolian government owns a 34-percent stake in the mine.

Soirat was diplomatic in his presentation, schmoozing with Mongolia’s leadership, but delivering a sharp message: hands off.

“There is no doubt Oyu Tolgoi Underground is a complex and difficult project and it will require Rio Tinto’s balance sheet and technological competence to succeed,” he said.

“We are confident we can pull it off but we do need your trust, patience and support, please let us get on with the work of continuing to build a world class business,” Soirat added.

He used Chile as an example of what Mongolia could become in regards to copper production, saying that mining investment can act as a springboard for future diversification.

“Mongolia has all the ingredients to become a successful resource nation and to use her mineral revenue to fuel sustainable, long-term, diversified growth,” he commented.

He said that for Mongolia to maintain a course for success, it must become a stable investing environment with laws that the government abides by.

Further, he said that companies rely on “the sancity of key investment agreements” to ensure stability, and that “fair and consistent application of the law requires working with partners and investors so they have confidence in the system.”

The company will no doubt be hoping the message was heard loud and clear. Rio Tinto has so far invested US$7 billion in Mongolia, and Soirat said that by the end of the ongoing underground development works the company could have invested US$12 billion — more than Mongolia’s annual GDP.

Upon completion of the Oyu Tolgoi underground expansion, the mine is expected to produce 560,000 tonnes of copper a year.

Rio Tinto isn’t the only company Mongolia has been scuffling with; earlier in May, Mongolian Copper fended off more attempts by Ulaanbaatar to nationalize the 49 percent of the Erdenet copper mine that the government didn’t control.

Mongolian Copper Chairman Mukhbaatar Myagmar clearly feels the same way as his fellow miners, having warned previously that the government’s attempts to seize Erdenet could damage the country’s reputation as a place to invest.

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