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    

Events

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

NEWS

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Central bank decides to keep policy rate unchanged www.montsame.mn

At its meeting held today, the Monetary Policy Committee of the Bank of Mongolia took into consideration the current state and outlook of the economy and financial markets, as well as the uncertainties and risks inherent in the domestic and external environments, and reached a decision to:
Keep the policy rate at 6 percent;
Increase the amount of long-term repo financing which is to be issued in the third quarter of 2021 by up to MNT 250 billion.
The inflation rate is projected to remain at the target level of 6 percent in the near future. Currently, it stands at 6.7 percent nationwide and 6.2 percent in Ulaanbaatar city. This was mainly due to the economic growth, cash provided to the citizens, and the increase in the price of meat.
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Energy development projects to be intensified www.montsame.mn

During the cabinet meeting dated June 23, Minister of Energy N.Tavinbekh delivered a presentation on the work load of the country’s energy industry for 2020-2021 winter season and future issues of concern.
The government concluded that it is now of importance to intensify developments in the energy industry, such as extension, refurbishment and establishment of energy sources. Corresponding ministers were charged with ensuring preparations for the upcoming winter season and keeping reserves of raw materials for the refined coal briquette used in the country.
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CPC's great practice offers inspirations, says Turkish party leader www.xinhuanet.com

Interview: CPC's great practice offers inspirations, says Turkish party leader

Source: Xinhua| 2021-06-21 21:00:19|Editor: huaxia
 

ISTANBUL, June 21 (Xinhua) -- China, led by the Communist Party of China (CPC), has accomplished an extraordinary success in eradicating absolute poverty and upholding multilateralism, Dogu Perincek, chairman of Turkey's Patriotic Party, has said.

Perincek, a well-known politician in his country, has paid several visits to China, during which he was most impressed by the tremendous efforts that Chinese people have put in creating a better life.

In a recent interview with Xinhua, Perincek said that the New China was one of the poorest countries when established in 1949, "but the country created a 'miracle' in such a short time" as it developed to become an engine of world economy.

"We can call this century-old history a heroic history or a legendary history of the CPC," he said, speaking of the upcoming 100th anniversary of its founding early next month, with a belief that the party will lead China to another century of great success.

Perincek noted that the CPC, the world's largest political party with more than 90 million members, has acted "equally and sincerely" in its relations with other parties.

"It does not impose its position," he stressed. "When telling its stories, it always says 'these are our experiences.'"

In his view, the CPC is truly "admirable" for respecting other parties' choices of path in line with each country's unique conditions.

Perincek also spoke highly of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, saying the book "Xi Jinping: The Governance of China" has showcased the Chinese president's exceptional leadership skills.

Hailing China's success in securing a "complete victory" in the fight against poverty, Perincek said "this is a great historic achievement for humanity."

Perincek said China also achieved a peerless success in the fight against the COVID-19 pandemic, he said.

China is actively promoting multilateral cooperation and building a community with a shared future for mankind, Perincek said.

"It is not egotistic and not selfish. And in this respect, it represents humanity's hopes and aspirations," he noted. (Video reporter: Wang Feng; Video editor: Liu Ruoshi)

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Microsoft reaches a $2 trillion market cap www.cnn.com

New York (CNN Business)Microsoft has officially entered the most elite of clubs: corporations with a market value exceeding $2 trillion.
The tech giant is only the second publicly traded American company, behind Apple (AAPL), to reach such a valuation. Oil company Saudi Aramco, which went public in 2019, has also previously passed that mark, though its market cap on Tuesday was $1.88 trillion.
Microsoft's (MSFT) market capitalization topped $2 trillion during trading on Tuesday, and closed just $300 million shy of that mark. Its stock on Tuesday climbed 1.1% to $265.51.
The company reached the $2 trillion milestone just over two years after it first passed the $1 trillion market cap mark.
Covid-19 helped get it there. The pandemic meant people were spending more time on their devices, boosting demand for Microsoft's computers, gaming systems and cloud computing platform. And a stock market rally — along with the success of tech companies in particular — lifted its shares.
Microsoft buys Nuance for $16 billion in a major push into health care AI
Microsoft buys Nuance for $16 billion in a major push into health care AI
Microsoft's stock has gained 64% since March 2020, when pandemic lockdowns began going into effect in the United States.
In April, Microsoft reported sales were up 19% year-over-year to $41.7 billion for the three months ended March 31.
"Over a year into the pandemic, digital adoption curves aren't slowing down," CEO Satya Nadella said in a statement at the time. "We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform."
Apple's market value passed $2 trillion last August, and it currently stands at $2.24 trillion. Now, Microsoft has joined its ranks, with two other Big Tech firms, Amazon (AMZN) and Google (GOOGL GOOGLE), nipping at their heels. Amazon's market cap hit $1.77 trillion on Tuesday, and Google parent Alphabet's reached $1.67 trillion.
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Millions become millionaires during Covid pandemic www.bbc.com

More than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic.
While many poor people became poorer, the number of millionaires increased by 5.2 million to 56.1 million globally, Credit Suisse research found.
In 2020 more than 1% of adults worldwide were millionaires for the first time.
Recovering stock markets and soaring house prices helped boost their wealth.
Wealth creation appeared to be "completely detached" from the economic woes of the pandemic, the researchers said.
Anthony Shorrocks, economist and author of the Global Wealth Report, said the pandemic had an "acute short term impact on global markets", but added this was "largely reversed by the end of June 2020".
"Global wealth not only held steady in the face of such turmoil but in fact rapidly increased in the second half of the year," he said.
However, wealth differences between adults widened in 2020, and Mr Shorrocks said if asset price increases, such as house price rises, were removed from the analysis, "then global household wealth may well have fallen".
"In the lower wealth bands where financial assets are less prevalent, wealth has tended to stand still, or, in many cases, regressed," he said.
"Some of the underlying factors may self correct over time. For example, interest rates will begin to rise again at some point, and this will dampen asset prices."
Total global wealth grew by 7.4%, the report said.
Since the start of the 21st century, the number of people with wealth between $10,000 and $100,000 had more than tripled in size from 507 million in 2000 to 1.7 billion in mid-2020.
They said the increase reflected the "growing prosperity of emerging economies, especially China, and the expansion of the middle class in the developing world".
Nannette Hechler-Fayd'herbe, chief investment officer at Credit Suisse, said: "There is no denying actions taken by governments and central banks to organise massive income transfer programmes to support the individuals and businesses most adversely affected by the pandemic, and by lowering interest rates, have successfully averted a full scale global crisis."
She added: "The lowering of interest rates by central banks has probably had the greatest impact.
"It is a major reason why share prices and house prices have flourished, and these translate directly into our valuations of household wealth."
But she added that these interventions "have come at a great cost".
"Public debt relative to GDP has risen throughout the world by 20 percentage points or more in many countries.
"Generous payments from the public sector to households have meant that disposable household income has been relatively stable and has even risen in some countries."
Ms Hechler-Fayd'herbe said a "major reason" why share prices and house prices had "flourished" was due to the lowering of interest rates by banks, which, she added, translated "directly into our valuations of household wealth".
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Total COVID-19 cases exceed 100 thousand in Mongolia www.montsame.mn

At the regular press briefing of the Ministry of Health for today on June 23, it was reported that 2,213 new cases were detected in Mongolia. More specifically, 1,179 new cases were detected in the capital city, 1,024 cases in aimags, nine hospital-acquired cases and one imported case.
As of today, the total number of COVID-19 confirmed cases in Mongolia now stands at 100,263.
Furthermore, ten COVID-19 related deaths have been also reported. Of the 12,479 patients currently undergoing treatment, there are 8,070 patients in mild, 3,149 in serious, 1,053 in critical, and 207 in very critical condition. In addition, 21,745 people with mild cases of COVID-19 are being isolated at home.
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Copper supply needs to double by 2050, Glencore CEO says www.mining.com

Glencore Chief Executive Ivan Glasenberg said on Tuesday that a supply gap was growing in the metals necessary for the world to replace fossil fuels with renewable energy, but he stopped short of predicting a so-called super cycle.
Glasenberg said at the Qatar Economic Forum that copper supplies needed to increase by one million tonnes a year until 2050 to meet an expected demand of 60 million tonnes.
“Today, the world consumes 30 million tonnes of copper per year and by the year 2050, following this trajectory, we’ve got to produce 60 million tonnes of copper per year,” he said.
Shares of many mining companies have doubled in the past year, as policy support measures in advanced economies in response to the covid-19 pandemic stoked inflation.
Commodities serve as a hedge against inflation, meaning their prices are expected to stay strong.
At the same time, the transition to a low-carbon economy and channeling of stimulus funds into infrastructure is generating demand for raw materials.
Demand for copper is rising for use in renewable energy projects and electric vehicles. Prices hit a record high above $10,000 a tonne in May, before falling about $1,500 a tonne.
The nickel and cobalt markets are facing similar supply deficits over the next few decades. Glasenberg said nickel supplies needed to grow by an extra 250,000 tonnes a year compared with a historic rate of just 100,000 tonnes.
He projected annual nickel demand to rise to 9.2 million tonnes from the current 2.5 million tonnes.
(By Clara Denina and Julia Payne; Editing by Alexander Smith and Paul Simao)
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They relied on Chinese COVID vaccines. Now they’re battling outbreaks. www.seatletimes.com

Mongolia promised its people a “COVID-free summer.” Bahrain said there would be a “return to normal life.” The tiny island nation of the Seychelles aimed to jump-start its economy.
All three put their faith, at least in part, in easily accessible Chinese-made vaccines, which would allow them to roll out ambitious inoculation programs at a time when much of the world was going without.
But instead of freedom from the coronavirus, all three countries are now battling a surge in infections.
China kicked off its vaccine diplomacy campaign last year by pledging to provide a shot that would be safe and effective at preventing severe cases of COVID-19. Less certain at the time was how successful it and other vaccines would be at curbing transmission.
Now, examples from several countries suggest that the Chinese vaccines may not be very effective at preventing the spread of the virus, particularly the new variants. The experiences of those countries lay bare a harsh reality facing a post-pandemic world: The degree of recovery may depend on which vaccines governments give to their people.
In the Seychelles, Chile, Bahrain and Mongolia, 50% to 68% of the populations have been fully inoculated, outpacing the United States, according to Our World In Data, a data tracking project. All four ranked among the top 10 countries with the worst COVID outbreaks as recently as last week, according to data from The New York Times. And all four are mostly using shots made by two Chinese vaccine makers, Sinopharm and Sinovac Biotech.
“If the vaccines are sufficiently good, we should not see this pattern,” said Jin Dongyan, a virus expert at the University of Hong Kong. “The Chinese have a responsibility to remedy this.”
Scientists don’t know for certain why some countries with relatively high inoculation rates are suffering new outbreaks. Variants, social controls that are eased too quickly and careless behavior after only the first of a two-shot regimen are possibilities. But the breakthrough infections could have lasting consequences.
They relied on Chinese vaccines. Now they’re battling outbreaks.
Our collected COVID-19 news and resources
In the United States, about 45% of the population is fully vaccinated, mostly with doses made by Pfizer-BioNTech and Moderna. Cases have dropped 94% over six months.
Israel provided shots from Pfizer and has the second-highest vaccination rate in the world, after the Seychelles. The number of new daily confirmed COVID-19 cases in Israel is now around 4.95 per million.
In the Seychelles, which relied mostly on Sinopharm, that number is more than 716 cases per million.
Disparities such as these could create a world in which three types of countries emerge from the pandemic — the wealthy nations that used their resources to secure Pfizer-BioNTech and Moderna shots, the poorer countries that are far away from immunizing a majority of citizens, and then those that are fully inoculated but only partially protected.
China, as well as the more than 90 nations that have received the Chinese shots, may end up in the third group, contending with rolling lockdowns, testing and limits on day-to-day life for months or years to come. Economies could remain held back. And as more citizens question the efficacy of Chinese doses, convincing unvaccinated people to line up for shots may also become more difficult.
One month after receiving his second dose of Sinopharm, Otgonjargal Baatar fell ill and tested positive for COVID-19. The 31-year-old miner spent nine days in a hospital in Ulaanbaatar, the capital of Mongolia. Otgonjargal said he is now questioning the usefulness of the shot. “People were convinced that if we were vaccinated, the summer will be free of COVID,” he said. “Now it turns out that it’s not true.”
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Beijing saw its vaccine diplomacy as an opportunity to emerge from the pandemic as a more influential global power. China’s top leader, Xi Jinping, pledged to deliver a Chinese shot that could be easily stored and transported to millions of people around the world. He called it a “global public good.”
Mongolia was a beneficiary, jumping at the chance to score millions of Sinopharm shots. The small country quickly rolled out an inoculation program and eased restrictions. It has now vaccinated 52% of its population. But on Sunday, it recorded 2,400 new infections, a quadrupling from a month before.
In a statement, China’s Foreign Ministry said it did not see a link between the recent outbreaks and its vaccines. It cited the World Health Organization as saying that vaccination rates in certain countries had not reached sufficient levels to prevent future outbreaks, and that countries needed to continue to maintain controls.
“Relevant reports and data also show that many countries that use Chinese-made vaccines have expressed that they are safe and reliable, and have played a good role in their epidemic prevention efforts,” the ministry said. China has also emphasized its vaccines target severe disease rather than transmission.
No vaccine fully prevents transmission and people can still fall ill after getting inoculated, but the relatively low efficacy rates of Chinese shots have been identified as a possible cause of the recent outbreaks.
Pfizer-BioNTech and Moderna have efficacy rates of more than 90%. A variety of other vaccines — including AstraZeneca and Johnson & Johnson — have efficacy rates of around 70%. The Sinopharm vaccine developed with the Beijing Institute of Biological Products has an efficacy rate of 78.1%; the Sinovac vaccine has an efficacy rate of 51%.
The Chinese companies have not released much clinical data to show how their vaccines work at preventing transmission. On Monday, Shao Yiming, a public health researcher with the Chinese Center for Disease Control and Prevention, said that China needed to fully vaccinate 80% to 85% of its population to achieve herd immunity, revising a previous official estimate of 70%.
Data on breakthrough infections has not been made available either, though a Sinovac study out of Chile showed that the vaccine was less effective than Pfizer-BioNTech and Moderna at preventing infection among vaccinated individuals.
A representative from Sinopharm hung up the phone when reached for comment. Sinovac did not respond to a request for comment.
William Schaffner, medical director of the National Foundation for Infectious Diseases at Vanderbilt University, said the efficacy rates of Chinese shots could be low enough “to sustain some transmission, as well as create illness of a substantial amount in the highly vaccinated population, even though it keeps people largely out of the hospital.”
Despite the spike in cases, officials in both the Seychelles and Mongolia have defended Sinopharm, saying it is effective in preventing severe cases of the disease.
Batbayar Ochirbat, head researcher of the Scientific Advisory Group for Emergencies at Mongolia’s Ministry of Health, said that Mongolia made the right decision to go with the Chinese-made shot, in part because it has helped keep the mortality rate lower in the country. Data from Mongolia showed that the Sinopharm vaccine was actually more protective than the doses developed by AstraZeneca and Sputnik, a Russian vaccine, according to the health ministry.
The reason for the surge in Mongolia, Batbayar said, is that the country reopened too quickly, and many people believed they were protected after only one dose. “I think you could say Mongolians celebrated too early,” he said. “My advice is the celebrations should start after the full vaccinations, so this is the lesson learned. There was too much confidence.”
Some health officials and scientists are less confident.
Nikolai Petrovsky, a professor at the College of Medicine and Public Health at Flinders University in Australia, said that with all of the evidence, it would be reasonable to assume the Sinopharm vaccine has minimal effect on curbing transmission. A major risk with the Chinese inoculation is that vaccinated people may have few or no symptoms and still spread the virus to others, he said.
“I think that this complexity has been lost on most decision-makers around the world.”
In Indonesia, where a new variant is spreading, more than 350 doctors and health care workers recently came down with COVID-19 despite being fully vaccinated with Sinovac, according to the risk mitigation team of the Indonesian Medical Association. Across the country, 61 doctors died between February and June 7. Ten of them had taken the Chinese-made vaccine, the association said.
The numbers were enough to make Kenneth Mak, Singapore’s director of medical services, question the use of Sinovac. “It’s not a problem associated with Pfizer,” said Mak at a news conference on Friday. “This is actually a problem associated with the Sinovac vaccine.”
Bahrain and the United Arab Emirates were the first two countries to approve the Sinopharm shot, even before late-stage clinical trial data was released. Since then, there have been extensive reports of vaccinated people falling ill in both countries. In a statement, the Bahraini government’s media office said the kingdom’s vaccine rollout had been “efficient and successful to date.”
Still, last month officials from Bahrain and the United Arab Emirates announced they would offer a third booster shot. The choices: Pfizer or more Sinopharm.
This story was originally published at nytimes.com.
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Is Mongolian Government putting economy before health? www.news.mn

As of 22 June, 459 Mongolians have died of Covid-19; 176 of them in June alone! Wrong decisions made by the authorities are being blamed for the worsening Covid-19 situation in Mongolia. Public health and the economy are challenged are being sorely tested by coronavirus as tally nears to 100,000; in some quarters, this is being blamed on the recent presidential election campaign and the distribution of medals and other awards by President Kh.Battulga.
Now, medical experts are demanding that the government orders quarantines to save lives from coronavirus; at the same time, economists are warning that people will suffer from default if a further lockdown is imposed.
Deputy Prime Minister S.Amarsaikhan said ‘the Cabinet decided to no longer issue quarantines. However, hospitals in Ulaanbaatar are approaching breaking point. If daily cases of coronavirus do not decrease, then the government will have no choice but to take strict measures’.
According to one source, Cabinet members are divided and arguing over whether to issue a lockdown order or not. Health experts proposed to Cabinet to authorise 14-21 days of lockdown. Therefore, Cabinet is considering issuing nationwide lockdown from 2 July until 21 July after U.Khurelsukh takes his oath as President on 25 June.
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First flight at NEW “Chinggis Khaan International Airport” www.news.mn

Originally scheduled to open in 2016, the Khushig Valley International Airport is now, finally, ready to open. According to officials, the airport is planning to conduct its first flight; this will be a direct MIAT, Mongolian Airlines flight enroute Ulaanbaatar-Tokyo-Ulaanbaatar on 4 July.
In May, 2020, air border checking at the old “Chinggis Khaan International Airport” at Buyant-Ukhaa airport was officially moved to the new airport in the Sergelen Soum of Tuv Province. Also, being transferred was the name: Khushig Valley Airport will now bear the name of the Great Khaan.
Located 52 km south of Ulaanbaatar, the new “Chinggis Khaan International Airport” will provide excellent safety and reliability standards, good links to the city and will contribute to the economic development of Mongolia.
Initial planning for Mongolia’s new airport was budgeted at USD 247 million in 2006 with Japanese assistance. Now, 15 years on, the cost of construction has ballooned to nearly USD 1 billion.
With the new international airport in Khushig Valley coming into operation this year, the national capacity for air traffic is expected to increase by over 40 percent.
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