“The Ministry has been assisting in organizations concerning the visa issuance and diplomatic reception. It can be said that the preparation is complete. This conference is of great significance for Mongolia as it is creating great networking opportunities”, said Deputy Foreign Minister B.Battsetseg.

“It is a golden opportunity for Mongolia to present itself through an international network of young people, which is represented in 120 countries”, highlighted P.Batkhishig, President of JCI Mongolia.
“This is the largest event, in terms of the scope of participation, among the regional events of JCI. The sole purpose of the conference is to facilitate the JCI members, who are of age 18-40, with possibilities to share experiences gained and lessons learned”, JCI President Dawn Hetzel noted.

The JCI ASPAC will incorporate actions targeted to personal development of youth, training sessions for business plan, identifying business opportunities and sharing practices of information and technology cooperation. Each training will award certificates to the trainees. Also, forums will be held under nine key topics concerning regional development.
The General JCI Assembly will be attended by more than 1,800 delegates to outline action plans until 2020.

The proposed multi-user railway would enable Aspire to exploit the second largest coking coal reserves in Mongolia. In August 2015 Northern Railways was granted a 30-year concession to build and operate the line, and it is now negotiating funding for the completion of a bankable feasibility study as well as progressing negotiations for the EPC contract and construction financing.

Northern Railways is being supported in this work by China Railway Construction Corp subsidiaries China Railway 20 Bureau and China Railway First Survey & Design Institute.

Under the latest agreement, Northern Railways is to provide the CGGC subsidiary of state-owned China Energy Engineering Corp with access to its technical database, and the companies will work together to source debt and equity funding.

CGGC is ‘one of the pre-eminent international Chinese contractors with a deep experience base in arranging funding for large projects that they participate in, as well as providing direct investment’, said Aspire Managing Director David Paull on June 6. ‘The combination of CR20BGC and CGGC further demonstrates the strategic regional importance of the Northern Rail Corridor.’

The signing of the agreement was discussed by Mongolian Minister of Road and Transport Development D.Ganbat and Deputy Minister of Infrastructure and Construction of Poland Jerzy Schmidt as the two met on the sidelines of the International Transport Forum’s 2017 Summit in Germany.

The parties discussed bilateral cooperation in the transport field and pending questions to be resolved jointly. They also agreed to maintain transport links under temporary regulations until signing of the agreement.

Poland and Mongolia also agreed to cooperate more closely in transit transport.

Chairman of the capital Governor’s Office M.Otgonbayar said - 'One family One job program was approved by the Citizens Representative's Meeting of the capital with aims to achieve 60 per cent employment, making that every family have stable income by being employed. Now we are planning the two subprograms. It is time to boost scientific and technological achievements and introduce them in practice, grow the economy with product innovations and develop national production”.

There are 72182 companies and entities in the business registration data nationwide and 64 per cent or 46153 of them are operating in Ulaanbaatar, among which 8219 companies or 17.8 per cent belong to industrial sector. In 2009-2016, over 20 thousand citizens and legal bodies enjoyed VAT and customs tax exemption or reduction worth of MNT78.8 billion and MNT37.5 billion each for importing industrial equipment and spare parts.

SME Development Fund of the Capital issued 5-year loans of MNT5.6 billion with 5 per cent interest in 2014-2015. 55 projects, including 34 SMEs, 14 dairy production and 7 breeding farm projects received the loan and as a result of the projects, 331 jobs have been kept, annual milk yield raised by 1 million liter and SME production increased by 44 per cent.

Japan has large amounts of natural gas locked in ice deep under its seabed. Government officials have been trying to tap it as a domestic energy source.

Researchers at the Agency for Natural Resources and Energy succeeded in extracting natural gas from methane hydrate earlier last month. It was taken from deposits below the seabed off the pacific coast of central Japan.

But the officials temporarily halted the test mining on May 15th after huge amounts of sand clogged the pipes bringing up the gas.

They took steps to keep sand from entering the pipes, and resumed the work. If the trial extraction is successful it could lead to the development of mining technology.

This new web-based registration system represents a significant milestone under the Secured Transactions Reform Project. It enables creditors to search for existing interests on movable assets that they intend to use as collateral for a particular loan and to file security interest on their approved collaterals and establish priorities. It is an important foundation for the development of a movable-asset finance market in Mongolia. Typically, in developed markets, about 60 to 70 percent of business lending involves movable assets in various forms. 

Over the past several years, the IFC team worked with the Ministry of Justice, the Bank of Mongolia, the Mongolia Bankers’ Association, and other stakeholders to prepare the law and get it approved, develop the registry, and promote movable-asset finance to lenders. Of the more than 10,000 registrations to date, 38 percent is equipment, 25 percent livestock, 5.4 percent account receivables, and 1.7 percent vehicles. Women account for 23 percent of registrations. 

“The Pledge-Notice Registry has strengthened the confidence of lenders. This supports the further improving of access to capital for MSMEs, including agricultural businesses, in Mongolia,” said Unenbat Jigjid, CEO of the Mongolian Bankers’ Association. “The use of movable assets as the basis for lending is a new deepening of our financial markets, which will benefit the economy and help generate more employment and income for the population.” 

“We are very encouraged to see the strong and early results from the new registry,” said Tuyen D. Nguyen, IFC Resident Representative in Mongolia. “Mobilizing moveable collateral to boost access to finance, especially for MSMEs, can play a significant role in Mongolia’s sustainable economic recovery.” 

Previously, IFC has helped develop modern secured financing systems in about 40 emerging markets including China, Cambodia, Vietnam, Sri Lanka, and Ghana. In China alone, around $3 trillion debt financing backed by movable assets is disbursed every per year, benefitting a large number of MSMEs and others.