Agreement on establishment of Mongolia-Tianjin transportation and logistics center signed www.montsame.mn

Ulaanbaatar/MONTSAME/ Chinese delegation headed by Li Hongzhong, Member of Politburo Standing Committee of the Communist Party of China and Communist Party Chief of Tianjin is visiting Mongolia these days. Within the visit, two sides signed a general agreement on cooperation for the project ‘Mongolia-Tianjin's Dongjiang transport and logistics center’.

Bill on mine rehabilitation to be drafted www.montsame.mn

Ulaanbaatar /MONTSAME/. As of 2012, there was 4,256 hectars of area that was left unrehabilitated, while now such area has increased by two times, becoming 8,800 hectars.

Ger district households to enjoy nighttime tariff discount from November 1 www.montsame.mn

Ulaanbaatar /MONTSAME/ In accordance with the revised regulations on nighttime electricity tariff discount for ger district households, nighttime electricity tariff of ger districts in Capital city is to be cut by 100 percent whereas of the centers of each aimag and soum that have a population of over 10 thousand by 50 percent during cold seasons.

President meets with Roberto Azevedo, Director-General of the World Trade Organization www.montsame.mn

Ulaanbaatar /MONTSAME/ On the sidelines of the World Investment Forum taking place in Geneva, Switzerland, President of Mongolia Khaltmaagiin Battulga visited the World Trade Organization headquarters and met Director-General Roberto Azevedo on October 22.

The Ultimate Luxury Gers In Mongolia's Expansive Gobi Desert www.forbes.com

The best places in the world are often the hardest to get to. I’ve found this time and time again at places such as the Clouds Mountain Gorilla Lodge in Uganda, the Galapagos Safari Camp in Ecuador, Nihi Sumba in Indonesia, and the Explora resort in Patagonia. Now on my list is the Three Camel Lodge in Mongolia, a wildly obscure and pristine luxury ger camp set in Mongolia’s expansive Gobi Desert. I’ve long wanted to see Mongolia, and the Three Camel Lodge provides an unmatched way in which to experience it.

Most of Mongolia would be considered “remote,” and that’s an understatement. One can drive for hours on dirt roads (most of which Mongolia is) and never spot a person, road sign, cell tower, or ger. Half of Mongolia’s three million people live the centuries’ old nomadic lifestyle, and this way of life relies on felt padded ger “tents,” herds of animals, and the gifts of nature such as rain, wind, and river systems. To a Westerner tourist, this nomadic lifestyle is utterly romantic and unbelievable all at once, and Three Camel Lodge, despite its many comforts, does a good job at showcasing this simple, pristine way of life.

Three Camel Lodge rests in the flat “steppe” region of the Gobi-Altai Mountains of Gurvansaikhan National Park, about 300 miles from the capital, Ulaabaatar. The best way to get to the lodge is one hour by SUV from Dalanzadgad, a very small regional airport. Three Camel Lodge does a tremendous job in ensuring guests don’t get lost (no roads, as mentioned above), and each party is given a guide from the airport to manage each stay. Ours was lovely, spoke great English, and worked with our talented driver to spot eagles and herds of camels in the distance during our excursions. Every day, we had an adventure of riding two hump Bactrian camels in the sand dunes or hiking a mountain to view petroglyphs. My favorite sunset excursion was to the orange hued Flaming Cliffs, the legendary area also known as Bayanzag where dinosaur eggs were discovered nearly a century ago.

secretly enjoyed the lodge as much as the daily adventures. The property’s 40 gers, each meticulously handmade with wood, felt, and traditional colorful furniture, are surprisingly spacious. All the gers faces south, a Mongolian tradition, and my travel companion and I loved playing guitar and reading books while gazing out at the endless grasslands every afternoon.

This was a rare treat, and since there’s no wi-fi or cell service at the lodge, one can truly soak up the quiet, majestic beauty of the land at Three Camel Lodge. Also rare, given the extraordinary location of the resort, are the fantastic stone en-suite bathrooms complete with camel milk lotions, 24-hour electricity through the property, a luxury movie theater at the main lodge, and a full-service restaurant and bar lounge. There’s even a ger dedicated to Mongolian massage, a tradition practiced for hundreds, if not thousands, of years.

Although luxury is an attribute of Three Camel Lodge, the camp’s other notable asset is its dedication to sustainability, both environmentally and culturally. Jalsa Urubshurow, the founder and owner of Three Camel Lodge and a Mongolian-American, created Nomadic Expeditions, the sister company of Three Camel Lodge, in 1992. Nomadic Expeditions remains dedicated to taking travelers sustainability to obscure, unbelievable places throughout Asia, including Bhutan and Tibet. A decade later, Three Camel Lodge opened with the same ethos. Today, the Lodge recycles its organic waste to local farms for use as fertilizer, builds and supports greenhouse projects, employs 100% local Mongolians, and assists local families with goods and supplies to weather intense winters. In addition, Three Camel Lodge launched a ‘No Plastic Bags in the Gobi’ program that works with locals and small businesses to encourage the use of cloth shopping bags. I always prefer to stay at a property that doesn’t diminish its setting but instead enhances and cherishes it, and Three Camel Lodge is a pillar example.

Meeting with Arancha Gonzalez, Executive Director of the International Trade Center www.president.mn

On the sidelines of the 2018 World Investment Forum taking place in Geneva, Switzerland, President of Mongolia Khaltmaagiin Battulga met Arancha Gonzalez, Executive Director of the International Trade Centre, on October 22nd.

2019 budget plan brings attention to Future Heritage Fund www.zgm.mn

Along with the submission of the draft of 2019 State Budget, the Minister of Finance Khurelbaatar Chimed announced that the bill allocated around MNT 500 billion to the Future Heritage Fund (FHF). However, the fund, which was supposed to have over MNT 800 billion in its initial plan, is still under deficit and the fiscal plan may affect the Government’s initiative to create the treasury until 2030. Approved by the Parliament in 2016, the Law on Future Heritage Fund took effect last year. The purpose of the fund is to save certain portion of mining sector revenue to cover budget deficit and major debt repayments. Finance Minister Khurelbaatar previously announced that the fund will not be touched until 2030 with the revised plan for the fund. The FHF was previously called the Human Development Fund (HDF), which was responsible for several social welfare, such as the child money program, and had an accumulated debts of MNT 1.71 trillion by the FHF was established. The Government’s idea was to finance the fund from the State Budget in an amount equal to about 70 percent of mining revenue. Accordingly, a total of MNT 357.7 billion was allocated last year and MNT 508.7 billion is expected to be financed this year. But the balance of FHF is currently under deficit as the fund’s asset was drawn for fiscal balance and HDF debt repayments.

10 percent of FHF net profits to be drawn to budget starting from 2030
On the contrary, the budget bill expects around MNT 3 trillion from mining sector in revenue. This is around 76.4 percent higher than 2018 expectation of MNT 1.7 trillion. The draft expects to fulfill this amount by exporting 42 million tons of coal and 1.4 million tons of copper. Thus, failure to fulfill this target may affect potential financing to the fund.

According to the Ministry of Finance, the budget estimation is calculated in a triennial basis. The draft of 2019 budget bill allocated about MNT 1.1 trillion to the fund, of which MNT 600 billion will be spent to settle HDF debts and MNT 553 billion will remain in the fund according to a spokesperson of the Ministry of Finance. As for 2020, the ministry currently estimates MNT 754.5 billion financing for the fund and MNT 774.4 billion in 2021. The FHF will be financed from the State Budget until 2030 and will continue to operate as a sovereign wealth fund. The fund’s 10 percent of net profit will be drawn to the State Budget starting from 2030 according to the Law on FHF. Additionally, Finance Minister Khurelbaatar previously noted that the first MNT 500 billion will be circulated to raise fund as same as wealth funds of other countries and remarked, “We are currently studying Singaporean Temasek Holdings and Government Pension Fund of Norway.” Regarding the management, the Law on Future Heritage Fund states that a state-owned enterprise Future Heritage Fund Corporation will be responsible for the fund’s operation. A spokesperson of the Ministry of Finance informed that the ministry is currently drafting the rules and regulations of the corporation.

Sub-regional Workshop by UNCTAD and ITTLLDC succesfully organized in Ulaanbaatar, Mongolia www.news.mn

Sub-regional Workshop on “Fostering Structural Transformation and Export Diversification in Selected Asian Landlocked Developing Countries” was jointly organized in Ulaanbaatar, Mongolia, from 16 to 17 October 2018 by the International Think Tank for Landlocked Developing Countries, UN Conference on Trade and Development and the Government of Mongolia.

B.Batzorig: Domestic need of wheat and potatoes to be fully ensured www.montsame.mn

Ulaanbaatar /MONTSAME/ The Ministry of Food, Agriculture and Light Industry reports that volume of harvest per hectare of land has been increased this year. Specifically, grain was harvested at a yield of 14 centner this year whild it was 8.48 centner last year.

China stocks see biggest spike since 2015 www.bbc.com