Earlier today, S.Amarsaikhan, Chairman of the UB Citizens' Representative Khural (Council) received delegates from the UB city Road Development Agency, the General Agency for Specialized Investigation, the Master Planning Agency of the Capital and the UB City Administration. At the meeting, the UB Mayor issued a decree to start the relocation of the Zuun Ail market from May.

The Zuun Ail market is located in the Sukhbaatar District of Ulaanbaatar to the north-east of the city centre.

To be operated as a subsidiary of ‘Erdenes Mongol’ LLC, the enterprise will produce improved fuel with the processed coal of Ukhaa Khudag mine.

It is one of measures to be implemented with the goal to reduce air and environment pollution. The enterprise will produce 90 thousand tons of improved fuel per year and fund its operational cost with its sales income. A ton of the condensed fuel is projected to be not higher than the price for a ton of raw coal.

M.Unurzul

‘Salkhit’, the first Mongolian wind power plant with independent energy resource and capacity of 50 MW was built in 2004. It produces 140-150 million kW of energy annually, reducing the greenhouse gas emission by 180 tons and saving 1.6 million tons of clean water and 122 thousand tons of coal.

“Mongolia produces 11.8 percent of its energy or 120 MW of electricity from renewable energy sources. In the future, renewable energy sources will increase significantly. However, we need to develop the renewable energy sector with definite regulations in coherecne with other installed energy source capacities. For instance, the renewable energy production stops when there is no sun or wind. Thus, in order to overcome these kinds of difficulties, we are planning to create a 100 MW national cumulative system for produced wind and solar energy in the next two years” said Minister Ts.Davaasuren.

Minister also noted that the initial investment will be high, but further production will be cheap. As the solar technology is getting cheaper, countries have policy to increase renewable energy use. At the same time, it is important to develop a system that accumulates energy during daytime and distributes electricity to customers during nighttime.

B.Misheel

Being regularly organized by the Mongolian National Chamber of Commerce and Industry, the ‘Business Breakfast’ meeting aims to deliver proposals and initiatives of private sector to policy makers and strengthen cooperation between them.

More than 80 businessmen and specialists from the ministry attended the meeting and exchanged views on pressing issues in agricultural sector.

“The sector requires development revolution. When a General Veterinary Authority is established, it will be in charge of controlling all agricultural products to be exported. By doing so, control will be raised and quality of products will be improved. It will be very important to satisfy healthiness, provide population with safe food and export agricultural raw materials and products,” said the Minister.

The Ministry plans to implement a Program ‘Industrialization 21:100’ and agriculture-based processing plants such as cashmere, leather, meat, milk and dairy products will be established in all aimags. Every province will have processing industry suitable for them.

“Mongolia’s livestock reached 66.2 million and is expecting to have 22 million head of offspring this spring. Therefore, we are working to have more quality raw materials and products and produce value-added final products for export,” added the Minister.

In the end, B.Batzorig summarized, “Businessmen said that the sector needs investment. We have received many proposals and suggestions, such as to lower the loan rate and increase loan volume being issued to small and medium-sized enterprises. Moreover, we shared views on what policy and solutions are needed in the sector and how to export agricultural products and raw materials.”

M.Unurzul

During the economic crisis in 2016, the corporate income tax revenue was 3.5 times lower than the current indicator. Foreign direct investment to Mongolia has increased due to commodity price hikes and intensification of construction projects.

The expansion in export volume also helped to increase revenue. The top 100 companies in Mongolia earned a net profit of 269.89 billion MNT, an 81.4 percent increase compared to 2016; gross losses decreased by 54 percent. The companies are raising their financial outlook accordingly in 2018.

The price per ton of unconcentrated fluorspar amounts to 75-92 USD and 92-97 USD for concentrated fluorspar. The Minister of Mining and Heavy Industry has set up a task force to prepare additional proposals based on analyses of the fluorspar industry extraction and exports.

Task force members met with industry representatives last week, and both sides agree that proper policies regarding fluorspar will help increase the value of the mineral.

The conference included discussions on Mongolia’s economy, investment environment, Asian investors, major projects and programs in mining industry and the stock market.

Major companies and investors of China attached great importance on the conference as it was organized shortly after Prime Minister U.Khurelsukh’s official visit to China. At the conference Minister D.Sumiyabazar called the investors to make investments in gold mining, minerals processing plants and making the Erdenes Tavan Tolgoi deposit to enter to international markets.

Deputy Director for Business and Development of the Erdenes Mongol LLC O.Odbayar gave information on financial performance, long-term goals, projects and programs of the Erdenes Mongol LLC and its subsidiaries, and the stocks issued by Erdenes Tavan Tolgoi JSC, which attracted interest of the conference participants.

B.Misheel

S. Batbold, Ulan Bator's mayor, and G. Dashnyam, CEO of bicycle maker Nickel Ganbaa, signed an agreement here Tuesday to implement the U-Bike project, which will place 500 bicycles in over 40 locations in the first phase.

The bicycles will have GPS devices to prevent theft.

By 2020, 2,000 bicycles will be deployed in 150 locations.

Electric bicycles, numbering 2,500, will be put in 250 locations by 2021-2026. By 2027-2033, their number will be doubled.

The fee for the service will be 500 Mongolian tugrik (20 U.S. cents) per 30 minutes, and 800 tugrik (about 33 cents) per hour.