On May 14, Friday, Prime Minister L.Oyun-Erdene worked at the state-owned enterprise - Erdenet Mining Corporation (EMC) during his working trip to Orkhon aimag.

In the past two years, the Erdenet Mining Corporation has paid a total of MNT 1.9 trillion to both state and local budgets. Operating at the copper and molybdenum deposits in Erdenet since 1978, the Erdenet Mining Corporation has gradually increased its ore exploration capacity to 37 million tons and ore output to 32 million per annum.

During the PM’s visit to the mining factory, EMC General Director Kh.Badamsuren introduced about the technological reforms and current situation of the ore mining and processing. “Despite the lockdown measures and challenging times posed by the pandemic, the mining corporation had been yielding great achievements and exceeding its targets” highlighted the General Director. “In particular,

• output performance targets have been fulfilled with the help of technological improvements at the factories,

• 36.9 tons of ore were explored with total ore output amounting to 32.5 tons in 2020,

• 2020 sales revenue target set at MNT 2.2 trillion was exceeded by 16 percent,

• MNT 1.5 trillion were paid for state revenues in 2020 alone.”

“In addition, the 2021 production surpassed its targets by 100-143 percent by the first quarter of this year, which resulted in 38-percent of growth in sales revenues and 2.5-times of increase in net profit target. By the first three months of 2021, MNT 149 billion has been paid to local and state budgets, and the number is on the rise to MNT 266 billion as of current. Between 2017 and 2020, geological explorations with total cost of USD 29.4 million were performed by the corporation, extending the mine life by approximately by 30 years and making it possible to operate for another up to 70 years.”

Prime Minister L.Oyun-Erdene expressed gratitude on behalf of the government to the Erdenet Mining Corporation for its contribution to the Mongolian economy. The PM emphasized that the company has developed feasibility studies over the past two years to prove that it holds the capacity to take up the baton for one-tenth of the country’s MNT 10 trillion general budget and its operations can span another 60-70 years.

After noting that the government of Mongolia, on March 6, 2019, announced an emergency regime at the Erdenet Mining Corporation and Mongolrostsvetmet LLC to ensure that no operational interruptions occur and the government announced, on March 21, 2019, that the Erdenet Mining Corporation became fully state-owned enterprise, Prime Minister Oyun-Erdene said that the agenda of his visit to the Erdenet Mining Corporation is to present the government resolution which approves new developments at the mine.

According to PM, the aforementioned government decision was made on the basis of the current possibilities and economic resources of the EMC and the corporation has managed to save MNT 65.8 billion in 2019 and MNT 88 billion in 2020 only from its procurement activities throughout the period of emergency regime since 2019. “After becoming a state-owned company, the EMC for the first time become free from domestic and external debts for the first time in ten years.”

During the visit, the Prime Minister has become acquainted with the project proposal on the Industrial and Technological Park at the Erdenet Mine Corporation, consisting of ore dissolution project, molybdenum ore processing plant, copper smelting and concentrate and green growth center. The project aims to produce value added end products and increase the corporation’s daily sales revenue to MNT 28 billion by 2028.

Total investment funding of MNT 1.8 trillion is required for the Industrial and Technological Park development. The Erdenet Mining Corporation has delivered a proposal, feasibility study and design for the copper smelting and concentrate project to the Ministry of Mining and Heavy Industry for approval. The copper concentrate will have with annual capacity of 125,000 tons of cathode copper.

After hearing the presentation, the Prime Minister handed over the copy of the government resolution on the establishment of Copper Smelting-Metallurgical Plant and a certificate approving to establish the Industrial and Technological Park.

May 17 (Xinhua) -- Mongolia reported 533 new local cases of COVID-19 in the last 24 hours, bringing its national tally to 49,175, the country's health ministry said Monday.

Meanwhile, seven more fatalities and 1,065 more recoveries were reported, bringing the death toll to 226 and the total number of recoveries to 41,844, the ministry said in a statement.

The Asian country launched a mass COVID-19 vaccination campaign in late February, aiming to cover at least 60 percent of its population of 3.3 million.

So far, more than 1,778,600 Mongolians have received their first dose and over 643,600 have got both jabs

The Mainstreaming Social Accountability for Improved Transparency and Participation in Mongolia or MASAM II project, has started in Mongolia. The main goal of the project is to mainstream social accountability across Mongolia, contributing to better service delivery and investments through effective use of public funds in health sector. The new phase of the project will aim to strengthen both civil society and public sector agencies’ capacities to generate information/data as well as to monitor the policy-making and implementation processes, with an emphasis on the links between, first, policy planning and implementation, including front-line health service delivery and, second, budget planning and execution including public investments.

The project, which will run from 2020 to 2023, is funded by the Swiss Agency for Development and Cooperation and the Global Partnership for Social Responsibility (GPSA) and implemented by the World Bank in Mongolia. In addition to our Globe International Center, the project will be implemented by World Vision Mongolia and Save the Children Japan in Mongolia.

Not only citizens of 21 provinces and 9 districts of Ulaanbaatar, national and local civil society organizations, technology leading outlets, but also central and local government, public service providers, and media and research organizations will benefit from the project.

Globe International Center will lead the project’s implementation in Khuvsgul, Arkhangai, Tuv, Darkhan-Uul, Selenge, Orkhon and Bulgan provinces, as well as Songinokhairkhan, Baganuur and Nalaikh districts of Ulaanbaatar city.

Social accountability is the extent and capability of citizens to hold the state “accountable” and make it “responsive” to their needs. Basically, this means the ability of citizens to engage with public institutions - or the private sector- and to participate in the decision making processes that affect their lives in order to achieve better outcomes.

Source: Globe International Center

In the first four months of 2021, Mongolia traded with 129 countries from all over the world, and the total trade turnover reached USD 4.5 billion, of which USD 2.5 billion were exports and USD 2.0 billion were imports. The total foreign trade turnover increased by USD 1.5 billion (50.6%), where exports increased by USD 1.1 billion (81.8%) and imports increased by USD 374.9 million (23.6%) compared to the same period of previous year. In April 2021, exports reached USD 496.3 million, decreased by USD 169.6 million (25.5%) and imports reached USD 437.5 million, decreased by USD 163.9 million (27.2%) compared to the previous month.

The foreign trade balance was in surplus of USD 535.4 million in the first four months of 2021, compared with deficit of USD 212.7 million in the first 4 months of 2020. Trade with China reached USD 3.1 billion in the first 4 months of 2021, which is 68.7% of the total trade turnover.

Bituminous coal and copper concentrates accounted for 30.5% and 33.5% of total exports to China, respectively, and bituminous coal accounted for 95.0% of total export to Singapore, while gold accounted for 85.6% of total export to Republic of Korea.

In the first four months of 2021, USD 1.1 billion increase in exports from the previous year was resulted from USD 147.6 million increase in Iron ores and concentrates, USD 287.7 million increase in copper concentrates exports and USD 430.2 million increase in coal exports. In April 2021, USD 169.6 million decrease in exports was mainly due to coal exports volume reached 710.6 thousand tons and decreased by 1.5 million tons from 2.2 million tons in March 2021.

In the first four months of 2021, 38.3% of the total imports were from China, 27.5% -- from Russia, 7.1% -- from Japan, 4.1% -- from Republic of Korea and 3.4% -- from USA, which are accounting for 80.5% of the total imports. In the first 4 months of 2021, 51.3% of the total imports from Russia -- petroleum products, 67.2% of the total imports from Japan -- cars, and 5.8% of the total imports from China -- electricity, 16.5% -- trucks and 77.7% -- imports of other products. The USD 374.9 million increase in imports from the previous year was mainly due to USD 42.1 million increase in wheat, USD 97.6 million increase in trucks, USD 30.3 million increase in diesel and USD 19.1 million increase in cars.

Exports of mineral products, food products, and vegetable origin products made up 91.7 percent of the total export. On the other hand, 65.7 percent of the total imports were mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.

Source: National Statistics Office

May 16 (Xinhua) -- The COVID-19 cases in Mongolia increased by 541 over the past 24 hours to 48,642, with the death toll rising by two to 219, the country's health ministry said Sunday.

Meanwhile, 1,306 more recoveries were reported, bringing the nationwide count to 40,900, it said.

The Asian country launched a mass COVID-19 vaccination campaign in late February, aiming to cover at least 60 percent of its 3.3-million population.

More than 1,770,500 Mongolians have so far received their first dose, and over 641,000 have got both jabs. Enditem

Mongolia vaccinated 10,308 against COVID-19 for the past day.

The total nmber of people vaccinated against coronavirus infection reached 2,411,556.

1,770,527 received the first dose. 641,029 were administerd the second dose.

920,043 people in Ulaanbaatar received the first dose and 487,900 received the second dose.

850,484 were administered the first dose in aimags and 153,129 received the second dose.

Today, nine-tenths of the world's money is just numbers on a computer. In Mongolia alone, about seven percent of all money is stored in banknotes in cash and the remaining 93 percent in non-cash or digital format. We all know that digital money in people's accounts can be a means of payment, even if it is not real.

So what is the next evolution of digital money? More and more economists say that electronic algorithms based on cryptocurrency or blockchain technology will replace fiat currency soon. It has already started with more than 4,200 cryptocurrencies currently listed on CoinMarketCap, the largest crypto database platform globally. ArdCoin, a Mongolian loyalty reward project based on blockchain technology, has climbed to the top 500 of this list. The main reason for the project's success is that it has opened up numerous opportunities for Mongolians that were not feasible before. Such as:

● Listings on international crypto exchanges

● Ability to trade ArdCoin for fiat currencies such as MNT, USD, and other cryptocurrencies such as bitcoin, ethereum.

● Through ArdCoin, Mongolian nationals living abroad can access financial services from Mongolia

● Anyone can invest from anywhere in the world

ArdCoin opened up several new ways to earn alternative income and build wealth for many Mongolians. These came at the most fortunate time for many people, whose businesses had stagnated for a long time due to the Covid-19 pandemic. Furthermore, it is becoming increasingly clear that demand and value will increase as ArdCoin's liquidity and uses increase.

Also, ArdCoin is the most widely used blockchain-based loyalty program in the world. For example, Ard estimates that one in three Mongolians own ArdCoin.

On May 14, 2021, the working group held its first online meeting with the Singapore Cooperation Enterprise to study and develop proposals on the establishment, formation and financing of the Central Provident Fund.

The Mongolian side was represented by H.E. A.Ariunzaya, Working group leader, Minister for Labour and Social Protection, H.E. T.Lkhagvadorj, Ambassador of Mongolia to Singapore, N.Ankhbayar, State Secretary of the Ministry of Foreign Affairs, Kh.Batjargal, Director of the National Development Agency, B.Gunbold, Head of the Policy and Planning Department of the Ministry of Construction and Urban Development, A.Enkhjin, Director of Resource Management and Financial Markets Department, Bank of Mongolia, L.Sonor, Head of Financial Markets and Insurance Division, Financial Policy Department, Ministry of Finance, T.Tserenbadral, Deputy Chairman of the Financial Regulatory Commission, A.Khishigbayar, Director of Policy and Planning Department, B.Batjargal, Head of Social Insurance Division and Z.Khuslen, Head of Foreign Cooperation Division of the Ministry of Labour and Social Protection.

From the Singaporean side, Tan Poek, Director for Northeast Asia and the Middle East, and Eric Lee, Director for Southeast Asia, Central Asia and International Partnerships, Huey Khey Wong, Senior Manager and Zhang Yedi, Senior Manager, Middle East and North East Asia

of the Singapore Cooperation Enterprise attended the meeting.

At the beginning of the meeting, B.Gunbold, Director of the Policy and Planning Department of the Ministry of Construction and Urban Development, gave a brief presentation on the current situation and challenging issues of housing sector in Mongolia.

Moreover, H.E. A.Ariunzaya, Working group leader, Minister for Labour and Social Protection, emphasized that the main obstacle to the implementation of the public housing program in Mongolia is not the construction related process, but the financial situation. Therefore, it is vital to learn from the best practices of Singapore's Central Provident Fund system, in particular how it successfully finances healthcare, medical services, social security and public housing programs.

Mr. Tan Poek, Director for Northeast Asia and the Middle East of the Singapore Cooperation Enterprise, concluded: “The success of Singapore's Public housing program is not only to provide housing for most citizens, but also to provide an environment in which people can live, play and learn comfortably. Currently, 80 percent of the population has been successfully enrolled in the Housing Program. We are ready to share our best practices to Mongolia.”

For the first phase, the working group agreed to conduct an in-depth study of the current situation, requirements and target group of the housing sector in Mongolia in cooperation with the Singapore Cooperation Organization.

Source: Ministry of Labor and Social Protection

On May 13, Prime Minister L.Oyun-Erdene’s working visit continued to Selenge aimag.

He became acquainted with the intensified farming of ‘Gazar Agro’ LLC, sowing process at the irrigated field of ‘Arvin Khur’ LLC, and the field that is possible to be utilized for growing fruits and irrigated greenhouse cultivation and discussed the farmers’ pressing issues.

Due to the spread of the COVID-19 infection and its lockdown as well as colder weather in the region this year, the most common pressing issue for farmers have become spring sowing process being late by about a month.

The sowing started throughout the province from April 23. Farmers in Orkhon soum are currently faced with certain pressing matters, including the issue of increasing greenhouse production in winter and summer, establishing a vegetable storehouse equipped with a modern refrigeration system, and extending the repayment term of soft loans with an annual interest of 3 percent.

Spring sowing is currently at 3.5 percent. During the PM’s visit, he saw the operations of ‘Gazar Agro’ LLC, which is expanding its operations in animal husbandry field with aims of being resilient to the climate, preserving the gene fund of the local ‘Selenge’ cattle and improving it by breeding with the Hereford cattle, and supplying breeding bulls that meet corresponding standards to herders. They have set their goal as to prepare meat that meets international quality standards, fully supply the domestic market, and export their products in the future.

As for the company, ‘Arvin Khur’, they carry out irrigated farming on 4,000 hectares of land in Zuunburen soum.

With a special focus on sustainable development of farming, increasing the yield per hectare, reducing soil erosion, and regenerating soil, the company introduced a new farming technology without the use of fallow starting from 2012. As a result, the fields were entirely put into circulation, with the farming of wheat, oilseeds, buckwheat, and barley and an annual harvest of 4,000-5,000 tons.

As for the Okhindoi area of Zuunburen soum, an irrigation system is planned to be installed for a total of 2,760 hectares in the framework of a project on vegetable project and irrigated agriculture being implemented by the Ministry of Food, Agriculture, and Light Industry with funding from the Asian Development Bank and Japan Fund for Poverty Reduction.

While getting acquainted with the spring sowing progress and intensified farming operations, Prime Minister L.Oyun-Erdene highlighted that the Government will support Darkhan and Selenge in developing into an agricultural region to replace mining as the top industry through policy.

(14 May), the Mongolian Supreme Court decided to release the defendants in the S.Zorig murder case on bail; the case will now be returned to further investigation. The trial was held behind closed door.

The three defendants – B.Sodnomdarjaa, T.Chimgee and Ts.Amgalanbaatar – were sentenced to 24-25 years in prison for the murder of S.Zorig, who was one of the heroes of Mongolia’s peaceful transition to democracy and a likely future prime-minister.

The investigation has lasted for two decades – in which there have been accusations of cover-ups and during which numerous people, including the victim’s wife, have been detained.

However, B.Khurts, the controversial former director of Mongolian’s General Intelligence Agency (GIA) and former Attorney General G.Erdenebat were sentenced on July, 2020 to three years in prison for using torture to obtain confessions in the investigation of the murder of politician S.Zorig and others.