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    

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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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UK to open first new coal mine in 30 years – media www.rt.com

The UK government is weighing the feasibility of opening a new coal mine to reduce dependence on Russian energy, according to a report by the Daily Telegraph on Saturday, citing sources in the Conservative Party.
According to the sources of the publication, Michael Gove, the UK’s housing and regional development minister, is inclined to approve the construction of a new coal mine in the city of Whitehaven, Cumbria in the northwest of England. The project was originally presented several years back and greenlighted in October 2020, but six months later, the UK Cabinet of Ministers stalled certification and launched a new review of the project amid protests by environmentalists.
However, against the backdrop of the situation in Ukraine and the sweeping restrictions placed on Moscow, which include scrapping Russian coal imports by the end of the year, the UK authorities could end up approving the project despite previous objections, The Telegraph writes. Gove is expected to reach a decision on the new mine by July 7, but sources say this could happen as early as mid-May. According to the Cabinet, the mine will provide coal for key steel mills.
If approved, the Whitehaven project will be the first new coal mine in Britain in three decades. The project will focus on extracting metallurgical coal (met coal), which is used in the production of steel. Until recently, 40% of the UK’s met coal needs were covered by Russia.
However, contracts were scrapped amid the sanctions that followed the launch of Russia’s military operation in neighboring Ukraine. On April 6, UK Foreign Secretary Liz Truss announced that by the end of 2022, London will stop all coal and oil imports from Russia and take measures to stop Russian gas deliveries as well.
The EU, which is also pressuring Moscow with economic restrictions amid the Ukraine crisis, has already decided to abandon Russian coal. Earlier this month, Brussels said it would ban the purchase, import, or transit of coal and other solid minerals from Russia starting on August 10.
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The HU announces Australia tour dates www.news.mn

Mongolian rockers The HU have announced they’ll be returning to Australia on tour this August. Beginning in Melbourne on 3 August, the band will head to Brisbane and Adelaide, before ending in Sydney on 7 August.
The metal favourites rose to worldwide prominence after the release of their 2019 debut album The Gereg, which reached number 11 on the ARIA Albums Chart. The album also debuted at number on the World Album and Top New Artist Charts.
It quickly gained them some notable celebrity fans: Papa Roach’s Jacoby Shaddix called the band “the real deal”, while even Sir Elton John hailed them as “my band of the year” on his Beats 1 Rocket Hour show. A deluxe edition of The Gereg was released one year later in 2020, featuring guest appearances by Shaddix, U.S. rock outfit From Ashes to New, and Halestorm’s Lzzy Hale.
The HU have been preparing The Gereg‘s follow-up, with their highly-anticipated sophomore album set for release later this year from Better Noise Music. The Black Thunder Tour will offer fans the opportunity to hear new music from the forthcoming album.
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China's Inner Mongolia sees robust export growth in Q1 www.xinhuanet.com

HOHHOT, April 24 (Xinhua) -- North China's Inner Mongolia Autonomous Region saw its exports grow 20.9 percent year on year in the first quarter (Q1) of the year, according to the local customs.
The region's foreign trade totaled 29.8 billion yuan (about 4.6 billion U.S. dollars) in Q1, of which the export value reached 13.1 billion yuan, according to the customs of Hohhot, the regional capital.
During the period, the region's imports and exports of processing trade surged 146.8 percent year on year hitting 2.3 billion yuan. The region's foreign-invested enterprises also saw fast growth in foreign trade, increasing by 53.2 percent year on year in Q1.
Its major export products maintained strong growth momentum, as the exports of mechanical and electrical products, agricultural products and basic organic chemicals grew 56 percent, 15.6 percent and 33.3 percent respectively in the period.
The imports and exports between the region and the Regional Comprehensive Economic Partnership (RCEP) countries stood at 9 billion yuan, up 9.3 percent year on year, the customs said.
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Mongolia Requests Offer From TCDD Teknik for the Freight Wagon Factory to be Established www.raillynews.com

Studies continue to improve railway cooperation between Turkey and Mongolia. At the meeting held at the General Directorate of Turkish State Railways (TCDD), a consensus was reached to improve railway cooperation between the two countries.
Cooperation Meeting in the Field of Railway Between Turkey and Mongolia was held at the General Directorate of TCDD. TCDD General Manager Metin Akbaş, Mongolian Ministry of Road and Transport Development (MRTD) Undersecretary Batbold Sandagdor, Railway and Maritime Policy Implementation Coordination Department Specialist Artur Byamba-Yu, Mongolian Railway KIT (MTZ), Head of Projects and Investment Department Myagmarsuren Zevgee, Ulaanbaatar Railways AŞ In the meeting held with the participation of (UBTZ) Deputy General Manager Luvsandash Enkhbold, brief information about the institutions was shared. After brief information was given by TCDD Teknik Mühendislik ve Müşavirlik AŞ Marketing and Sales Director Mustafa Özdöner and Turkey Rail System Vehicles Industry AŞ (TÜRASAŞ) Marketing and Customer Relations Branch Manager Fatih Karaköse, the parties discussed the cooperation opportunities between the two countries. Mongolia, the delegation stated that they wanted to cooperate in their new projects, and requested a proposal from TCDD Teknik for the feasibility studies of the freight wagon factory planned to be established in Mongolia, and that they would need railway vehicles when the projects were completed.
TCDD General Manager Metin Akbaş stated that this meeting, where the railway stakeholders of the two countries came together, formed a good basis for possible cooperation and that concrete steps should be taken in this direction. Akbaş noted that it would be beneficial to start the studies for the preparation and soon signing of a protocol that will involve all railway stakeholders for the development of cooperation between the two countries in the field of railways.
MRTD Undersecretary Batbold Sandagdorj emphasized that they appreciate Turkey's development and success in the field of railways. Sandagdorj stated that they can benefit from TCDD's experience in this field.
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Export of precious metals and foreign banknotes amounting to MNT 20 million to be restricted from today www.montsame.mn

In connection with the law on preventing the rise in price and shortage of key commodities caused by the international crisis and reducing their impact that was adopted last week, the State Great Khural made certain amendments to the Law on Anti Money Laundering and Combatting the Financing of Terrorism.
In its framework, the decision to restrict the export of precious metals and foreign banknotes amounting to MNT 20 million in cash comes into effect from today, April 22, reported the Customs General Administration.
The aforementioned decision will be implemented until January 1, 2023.
The decision to restrict the export of foreign banknotes and precious metals was made by the Cabinet at an irregular meeting on April 4.
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Foreign workers in Mongolia decreased by 2.7 percent www.montsame.mn

In the first quarter of 2022, 5.5 thousand foreign citizens from 92 foreign countries were working in Mongolia with labor contract with the purpose of earning pay or voluntarily. The number of foreign workers increased by 1.0 thousand (23.2 percent) from the same period of the previous year and decreased by 154 (2.7 percent) to compared with the previous quarter. In terms of gender of all foreign workers with labor contract in Mongolia, 4.8 thousand (87.0 percent) were male and 0.7 thousand (13.0 percent) were female.
In terms of country of all foreign workers in Mongolia, 56.8 percent is from China, 5.1 percent -- from Russian Federation, 4.9 percent -- from India, 4.6 percent --from South Korea, 3.8 percent --from United States, 3.5 percent -- from Vietnam, 3.2 percent-- from Australia, 3.0 percent -- from Philippine and remaining 15.1 percent--from other countries.
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President U.Khurelsukh virtually participates in Boao Forum for Asia www.montsame.mn

President of Mongolia U.Khurelsukh virtually participated in the Boao Forum for Asia, which is being held on April 20-22 under the theme “The World in COVID-19 and Beyond: Working Together for Global Development and A Shared Future”.
President U.Khurelsukh noted in his speech that the Boao Forum for Asia is an important platform for dialogue that combines the cooperation and efforts of the parties to ensure sustainable economic development in the region.
He stressed the need to take into account the post-pandemic period and the difficult international situation, and to work together to improve economic recovery, relations, and cooperation without delay. He emphasized that Mongolia welcomes China's Global Development Initiative, as well as the Belt and Road Initiative. He stressed the importance of ensuring equality as well as balanced and sustainable development in the world, and the implementation of the United Nations 2030 Agenda for Sustainable Development.
He noted that the countries of Asia are a real example of how they can maintain high-level relations, support each other and face challenges together, even during difficult pandemic circumstances.
Mentioning that 'Vision-2050', Mongolia’s long-term development policy, defined the fields of mining, agriculture, energy, information technology, tourism, transportation, and logistics as priority fields of development, the President expressed readiness to work together in the directions of infrastructure, and green growth, and environmental and ecological degradation.
President U.Khurelsukh also shared Mongolia’s ambition of becoming a bridge that connects Asia and Europe based on its geographical location to develop economic corridors in the region.
The heads of state, government, and international organizations participating in the forum will discuss issues such as deepening regional integration, global economic development trends, and green growth.
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Copper price down on China’s covid-19 worries www.mining.com

The copper price retreated on Friday as the number of covid-19 cases rose in China, making investors nervous about the country’s economic recovery.
China is the top consumer of copper globally, but it is facing factory shutdowns across the country.
A copper fabricator in Henan that produces pipes and parts used in household appliances and medical devices said its sales were down 20% to 30% in tonnage terms in the first half of April from a year earlier.
“Many customers are at a standstill due to restrictions,” said an official at the company.
In southwest China, Yunnan Tin Co., the country’s largest producer of the metal, said it had halted production at its mining unit to comply with local government virus restrictions.
Copper for delivery in May fell 1.4% from Thursday’s settlement price, touching $4.635 per pound ($10,197 per tonne) midday Friday on the Comex market in New York.
President Xi Jinping reaffirmed the goal of minimizing deaths from the virus in a speech on Thursday while emphasizing the need to expand cooperation to ensure the economy’s recovery.
China’s zero tolerance approach to covid 19 has seen banks including UBS Group AG and Nomura Holdings slash their growth forecasts for the country as lockdowns weigh on economic activity.
(With files from Reuters and Bloomberg)
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Diesel fuel to be exempt from excise tax until July 1 www.montsame.mn

At today's regular meeting of the Cabinet, a decision was made to exempt the excise tax on diesel fuel until July 1, 2022.

The Government came to this decision to keep the price of diesel fuel at a stable level and ensure its stable supply during the period when the mining, construction, and agricultural season begins. 

Minister of Mining and Heavy Industry G.Yondon and Director of the Authority for Fair Competition and Consumer Protection S.Munkhchuluun were instructed to take appropriate measures to maintain the supply and retail price of diesel fuel at a certain level and monitor their implementation.

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Prime Minister holds meeting with entities to receive suggestions on amending 2022 State Budget www.montsame.mn

On April 19, Prime Minister of Mongolia L. Oyun-Erdene held a meeting with representatives of the country’s TOP-100 entities to introduce the bill developed for making amendments to the 2022 State Budget and receive their suggestions. 

“It has been a year since I held a meeting with all of you during the time of strict lockdowns to introduce our MNT 10 trillion program. Although we have returned to our normal way of life thanks to vaccinations, the situation continues to be difficult abroad. Due to this, it has become necessary to amend the 2022 State Budget. 

The amendment consists of three parts: measures against increase in commodity prices, bill on Budget Saving, and measures for decentralization. In the future, it is planned to have the bills we developed discussed by entities through the Mongolian National Chamber of Commerce and Industry prior to the parliament’s first discussion,” said the Prime Minister. 

Following the Prime Minister’s statement, the companies’ representatives put forth suggestions and questions regarding ways to cooperate with the state, and voiced their opinions on a flexible tax policy, workforce shortages, and the implementation of the New Revival Policy initiated by the Government.

Advisor at Nomin Holding LLC A. Shagdarsuren said, “There is a lack of workforce in our country. In order to have Mongolia become a producer country, it is necessary for the state to implement a flexible tax policy. We want to fully process our livestock commodities domestically. The import of these products should be exempt from VAT and customs.”

Director of Jur Ur LLC B. Munkhzul said, “I would like to request that the percentage of VAT be reduced in the framework of the measures against increase in prices. Furthermore, it would be suitable to extend the due dates for large loans being taken by entities for the purpose of investment in their operations. Additionally, as the current legislation states that tax discounts are provided for entities running operations 500 km from the capital city, the distance should be decreased in the framework of the decentralization policy.”

After hearing the suggestions of the representatives, Prime Minister L. Oyun-Erdene said, “So far, 650 public services have become digitally available. If we hold discussions on possible solutions for issues, I believe that there will be a significant change in a year’s time. Thus, we will cooperate with the private sector. In connection with budget saving, there will be changes in the corresponding policy. We shall hold another discussion with entities regarding tax issues. In the framework of the New Revival Policy, works have accelerated, and about 70 percent of projects targeting economic growth have found appropriate solutions.”

At the end of the meeting, he noted that within the framework of decentralization policy, the policy support will be provided for entities creating job opportunities in other parts of the country, and that the article on tax discounts for operations being run at a distance of 500 km will be reconsidered. 

 

 

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