1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

Category

Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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GoGo News Agency to cooperate with Mongolian Immigration Agency www.mongolia.gogo.mn

 
GoGo News Agency signed a cooperation memorandum with Mongolian Immigration Agency, the Government Implementing Agency of Mongolia. Thus it enables readers of mongolia.gogo.mn to keep up with the latest news, updates, and rules of the agency.
The signing ceremony was attended by G.Gantuya, CEO of Mongol Content LLC and Head of Mongolian Immigration Agency D.Murun.
About Mongolian Immigration Agency
Immigration status is an independent body responsible for central residents, immigrants and stateless persons to register controls in Mongolian implements the following functions.
Монгол Улсад байнга оршин суугч, цагаач, харьяалалгүй иргэдийн бүртгэл хяналтыг төвлөрүүлэн хариуцах
Mongolia Immigration Agency is an independent Government body responsible for managing the registration and controls of foreign citizens residing in Mongolia, immigrants and stateless people.
The main function of the agency as follows:
Organize at visa issuance for foreign nationals, who is applying for a temporary residence, for official or personal reasons; issue a visa permit or a residence permit; extension of visas; permit a personal invitation; electronic identity card; create and integrate registration database of controls, visas and visa permission
Provide professional assistance and methodological support for the Diplomatic Missions of Mongolia abroad
Resolve issues related to the civil citizenship and immigration, adoption a child who has a citizenship of Mongolia for the foreign family and issues related to the Representative Office of the International or foreign Non-Government Organizations.
Put control on the implementation of the laws and regulations about the civil citizenship and migration process, to resolve the violations found.
About GoGo news agency
GoGo news agency was founded in 2007 and dedicates its actions towards trustworthy, most up-to-date, unbiased, independent news spread about Mongolia. In addition, we prepare major articles and coverages which cover social, political and economic sectors.
Apart from gogo.mn, we are running mongolia.gogo.mn, daily news website for English-speaking people and yolo.mn, a website for teenagers.
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A lobby group established at Parliament www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ A lobby group against having accounts in offshore zone, was established at the Parliament, submitting a document to the Parliamentary Speaker and making a statement yesterday, April 11.
 
A bill against having accounts in offshore zone or officially, a bill on amendments to the law on managing and preventing from conflict of interests in the public service is under parliamentary discussion. The lobby group will work to ensure the law enforcement after the bill is approved and to organize actions in collaboration with foreign legal organizations to investigate money source in offshore zone and draw the source back.
 
The lobby group is also working to form a temporary committee fighting against illegal economic activities, said MP T.Ayursaikhan, the initiator of the group. MPs Ts.Davaasuren, M.Oyunchimeg, N.Uchral and B.Bilegt have joined the group.
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Bills regarding customs tax to be submitted to Parliament www.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting held today, the cabinet discussed bills on exemption from customs tax and on the procedure of adhering to law on exemption from customs tax and decided to submit the bills to the Parliament. Law on exemption from customs tax was approved in 2008, exempting imported new tractors, combine harvesters and other machinery for agricultural use, equipment for flour milling and irrigation, fertilizers and plant protection substances (pesticides) until December 31, 2016.
 
The exemption has given significant support to restore agriculture sector, which had been in breakdown, to keep the stable growth, to improve the economic capacity of cultivators and producers, to encourage employment firmly and to provide people with healthy and safe food. Therefore, the Government considered it proper to extend the exemption term.
 
Currently, renovation of wheat seeds is running with 65 per cent and the most works of planting, harvesting and sorting are being made by hand as mechanization is not sufficient yet. Moreover fertilizers and protection substances are mostly imported.
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President recommends Cultural Campaign II www.en.montsame.mn

 
President of Mongolia Ts.Elbegdorj attended a meeting on soil, water and air pollution in Ulaanbaatar with representatives of the capital city residents and public organizations on April 12, Wednesday.
Government officials including Environment Minister D.Oyunkhoroal, Ulaanbaatar Mayor S.Batbold and Members of Parliament Kh.Nyambaatar and G.Batzorig were present at the meeting during which 18 presentations were given in 4 main areas – Urban planning and infrastructure, Engineering solution to reduce air and environmental pollution, Citizen participation and solutions and Bank and financing.
Mayor S.Batbold said that the presentations featured several ideas worth putting into work. “I invite you all to send these presentations and projects to the capital city administration. We will review them and cooperate on those we choose to finance”, he said.
In his closing speech, President Ts.Elbegdorj noted that the important issues discussed and forwarded at the meeting must be implemented. “We must see improvement in these areas”, he reiterated. He also expressed intentions to visit some of the factories introduced at the meeting. Moreover, the President suggested that Cultural Campaign II be forged to make the capital city a clean city, and gained support from the participants of the meeting.
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Gold sold to Bank of Mongolia to be spent for increasing currency reserve www.en.montsame.mn

 
Since the beginning of 2017, all of the gold sold to the Bank of Mongolia (BoM) by domestic entities and individuals has been used to increase foreign currency reserve of the country, reports the central bank.
Over the last years, the BoM had borrowed short-term loans from foreign banks with a condition to repay it with gold. Some officials of the Bank say that the loans' cost was high, the terms were too short and the condition of repayment was not economically efficient. For example, the Bank borrowed USD60 million in 2014 and USD160 million in 2015 with an interest rate of 9.3 per cent and a total of 12.1 tons of gold was sent for the loan repayment in 2014-2016.
Starting last August, the authorities of BoM has been adhering to a principle to stop getting loans and to fully repay all loans and as a result of this action, all loans of the central bank were repaid.
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Singaporean company to construct Mongolian coal aerification plant www.news.mn

 
The Mongolian Ministry of Energy has signed a Memorandum of Understanding with Poh Golden Ger Resources Pte Ltd, which is the Mongolian subsidiary of Singapore's "Poh Group Pte", for coal aerification and power generation. The Singaporean company will cooperate with Mongolia for constructing the coal aerification plant, which will generate power through the process of burning a combination of coal dust and gas.
 
The cooperation between the two sides first discussed during Singaporean Prime Minister Lee Hsien Loong’s visit to Ulaanbaatar in July, 2016.
 
The Poh Group, which specialises on mining and energy was founded by Poh Kay Ping, currently its CEO. Poh Golden Ger Resources Pte Ltd holds mining and exploration rights for coal and copper in the south of the Mongolia.
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Hogan Lovells publishes free analysis of Mongolia-Japan EPA/FTA; full texts of analysis and EPA www.nambc.org

 
Mongolia’s first and only free trade agreement (FTA) is with Japan. The “Japan–Mongolia Economic Partnership Agreement” (EPA) inevitably has had various adverse impacts on exports to Mongolia from the US and Canada, because of preferential tariffs accorded to Japanese competitors of North American companies. Previous Mongolian Governments had consistently offered to start FTA negotiations with Washington and Ottawa. Hogan Lovells (Mongolia) LLP has published a useful summary of the EPA, which was concluded in February 2015 and entered into force on June 7, 2016. One of the Mongolian partners of Hogan Lovells will speak at the NAMBC’s AGM on April 27 in Washington, DC.
 
In late March 2017, Japanese Foreign Minister Fumio Kishida and Mongolian Foreign Minister Tsend Munkh-Orgil signed a bilateral action plan in Tokyo for 2017-2021 for further implementation of the EPA, plus bilateral cooperation in political, security and economic fields not covered in the EPA. On the economic front, the plan calls for speedy implementation of the bilateral FTA and improving the FDI environment. Separately on the same day, Japan committed US$850 million in soft loans to Mongolia as part of a bailout to help rescue the country's economy; details are still under discussion..
 
For Hogan Lovells Japan EPA analysis, go to: http://ehoganlovells.com/rv/ff00002f8127205c90d12e6b35de4094dc8a2329
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“Mongolia rises again” – Last chance to sign up for 27th NAMBC AGM & Investors Forum, April 26-28 www.nambc.org

 
With the theme of “Mongolia rises again,” the NAMBC’s 27th AGM & Investors Forum opens on the evening of Wednesday, April 26, with a reception hosted by Ambassador Bulgaa Altangerel at the Mongolian Embassy in Washington DC commemorating the 30th anniversary of US-Mongolia relations. Working sessions will be 9:00 AM to 5:00 PM on Thursday, April 27, at the Residence Inn Pentagon City Arlington, adjacent to Washington’s Reagan National Airport. Distinguished experts from Mongolia and North America will discuss the outlook for Asia policy under President Trump and prospects for renewed Mongolian economic growth. Eight US Ambassadors to Mongolia will share their views on three decades of US-Mongolia relations. The optional second day, Friday, April 28, features private door-knock meetings with US government officials for US registrants; requires a transportation fee of $25 per person.
 
An updated schedule and agenda follows below. A registration form is attached. This AGM is made possible by the generous support of our sponsors, who share the NAMBC’s confidence in Mongolia’s future: Centerra Gold, Wagner Asia, Nomadic Expeditions, Hogan Lovells (Mongolia) LLC, SOCO International, 5.11 Tactical and Mongolia Business Database.
 
“This year we have the largest-ever number of speakers and delegates from Mongolia,” said NAMBC Chairman Frank Herbert, “as well as the largest number of former American ambassadors to Mongolia ever assembled at the same place and the same time.” Also speaking are the Mongolian Ambassador to the US B. Altangerel and the Mongolian Ambassador to Canada R. Altangerel. Herbert also noted that the discussion on future Mongolian economic growth included experts from a broad variety of sectors including mining, equipment supply chain, infrastructure, finance, think-tanks, tourism, agriculture, investment, the legal community and the Canadian and US governments. This group includes CEOs or senior officers of four major mining investors in Mongolia.
 
Some group rate room reservations at the Residence Inn Pentagon City may still be available; the deadline was April 5 . If any are still available, group rate rooms are US$274.54 per night inclusive of tax, complimentary internet, hot breakfast buffet and free shuttle service to Reagan National Airport and the Metro station. To inquire about availability and to book rooms, please immediately call NAMBC Event Manager Sarah Bucy, 01+703-413-6588, Sarah.bucy@marriott.com, and be sure to reference the NAMBC AGM at the Residence Inn Arlington Pentagon City in order to obtain the group rate. Do not attempt to register for the group rate online at this late date.
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Oil edges up as Saudis reported to back extension of production cuts www.rt.com

 
Crude surged on Wednesday, putting oil prices on track for their longest winning streak since August 2016 on reports Saudi Arabia will back extending output reductions.
 
Brent crude futures were up 29 cents, or 0.52 percent at $56.52 per barrel. US West Texas Intermediate was trading up 25 cents, or 0.47 percent at $53.65.
 
On Tuesday, Bloomberg quoted a person familiar with the kingdom’s internal discussions that the Saudis are likely to back extending the curbs to end a three-year oil glut. However, the final decision hasn’t been made, the source said.
 
Saudi Arabia has made significant cuts, slashing production by 4.5 percent since late 2016 despite a slight growth in March to 9.98 million barrels per day (bpd).
 
"Saudi Arabian production reduction appears to be ahead of forecast and gave oil a boost," said Jeffrey Halley of futures brokerage OANDA in Singapore, as quoted by Reuters.
 
OPEC is scheduled to meet on May 25 to discuss whether to extend output cuts of 1.2 million barrels per day for another six months.
 
Russia, Mexico, Kazakhstan and several other non-OPEC countries have agreed to curb their production by 600,000 barrels per day. Russia has pledged half of the cuts.
 
However, prices are dragged down by information from the United States, where both production and inventories are rapidly growing.
 
US crude production is set to grow to 9.9 million bpd in 2018, from 9.22 million bpd this year. American stocks rose to a record 535.5 million barrels this month.
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Gold price jumps on Trump comments, North Korea www.mining.com

 
While industrial metals investors were offloading the sector's big names on Wednesday after sharp drops in iron ore and copper prices over worries about the robustness of the Chinese economy and heightened tensions surrounding North Korea, gold was enjoying one of its best trading sessions of the year.
 
Safe haven buying saw gold bulls chase the metal higher throughout the day and comments by Trump in an interview with the Wall Street Journal that the US dollar "is getting too strong" only added fuel to the fire late afternoon.
 
On the Comex market in New York gold for delivery was last trading at $1,289 an ounce, the highest since November 10 and up 2.6% so far this week.
 
Reaction from top gold stocks were fairly muted with Barrick Gold adding half a percentage point on Wednesday bringing the top gold producer's year to date gains to 26.5%.
 
Number two in terms of output, Newmont Mining ended the day slightly lower, before finding fresh buyers after hours, while Vancouver-based Goldcorp added 1.1% in New York.
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