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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"China will defeat the virus" www.zgm.mn

(OPINION by Tsenddoo)
One only a bad man would exaggerate virus

A new kind of flulike virus spread through China. Mongolians are exaggerating the situation, demanding to close the border. They act like they will be the only ones who will survive if it was the world’s end. Three centuries ago, it would have been possible to bear deadly disease and to remain peacefully in the steppe. Our ancestors had been reminding us by saying “Only a bad man would encourage war. ”But even before the war, we are frustrated to hear the name of the virus, acting like a mad yak. (Yak is a Tibetan animal, but it's so alike Mongolians when it goes mad. It could even run through seven mountains with its disheveled hair fly in the wind, reminding us of our overreaction to poisonous bananas) Some people are even speaking of taking advantage of this opportunity to fight with China. Generally, our ancient personality has started to emerge. The protection from the coronavirus that has spread in China seems to be developing to defense against China among some parts of society. We must understand one thing. The world today is flat. Once the world is doomed, Mongolia will not survive alone. Even if China is destroyed, there is no chance for Mongolia to be left behind that. One nation fails, so does the other as the destiny of humanity is united. Therefore, it would be more understandable to God if we pray “May China defeat the coronavirus” instead of wishing it to bypass Mongolia. Many people believe that China, on the verge of its breakthrough, could defeat the coronavirus as it did with the SARS. The Government of China is also showing its aspiration to prove it and demonstrate its full potential. You may think I’m on the Chinese side but I’m not. Here is the reason. I only know that If China does not conquer the coronavirus...if they cannot...there will be no need to use the flour and rice we stocked. The majority of people understand it, but almost none of them speak about it. Even the monasteries that have been praying for animals killed in Australia’s wildfire a few days ago is being silent. Although the monks are praying “For the sake of all the living creatures, including the Chinese in danger,” they whispered it without even hearing it themselves. Because they are afraid of being blamed for “praying for the Chinese. ”The Government of Mongolia, which assists in earthquakes in Japan and burning animals in Australia, is doing nothing to its eternal neighbor. Because is ashamed to be said as a government that helps China. Is it a normal phenomenon? The Chinese are infected with the virus, or on the contrary, we are eaten by a different virus which is more dangerous than that.Yes, this is a “virus”. A virus that is spreading along with the coronavirus and will last longer than that. The virus was created in our mindset in the mid-twentieth century, with the coldness in Soviet-Chinese relations.

Two. When vitamin turns into virus

This deadly virus was initially a useful vitamin. It has been mutated for hundreds of years since it came into our perspective. This is a Sinophobia or Anti-Chinese sentiment that was created following the weakened relationship between the Soviet Union (USSR) and China. If you look at the publications and leaflets of that time, this is exactly the Mongolian scandal surrounding coronavirus. The time that we used to eat Sinophobia vitamins and appreciated it has passed, and we did not notice that our expired vitamins began to turn into viruses. By the end of the twentieth century, the Soviet Union collapsed, and Moscow and Beijing remained the same “viruses” that they had previously partnered. Well, it is enough time to realize. It was announced in 1984 that Sinophobia was no longer a vitamin. Tsedenbal Yumjaa was fired from his post and was taken to Moscow, for he did not know the Soviet Union and China were in discussion to improve their relationship. Leonid Brezhnev died at that time, and a new leader appeared in the Soviet Union. It seems that he needed to prove his loyalty to the new Soviet leadership. In the early 1980s, he banished Chinese people who were in Ulaanbaatar to the countryside, thinking that Chinese-Soviet relations were still distant. However, he had just made an effort to reestablish his loyalty to the Soviets. He must have thought “Hostiling China will make Moscow satisfied.” For a while it was. That’s the reason why Chinese in the capital were suddenly expelled. Meanwhile, Kremlin was on its way to ease its relationship with Beijing, but the “old man” of Ulaanbaatar barged in, ruining the plan. Moscow was angry. In September 1983, one month after Tsedenbal expelled Chinese people from Ulaanbaatar, the Minister of Foreign Affairs of the USSR, Andrei Gromyko, held an emergency meeting and implemented a plan to oust Tsedenbal. Two officials were sent to Ulaanbaatar for the ideology and security of the plan. They are the Adviser to the Ministry of Social Security, General Vsevolod Radchenko and the Ambassador to Mongolia S.Pavlov (1983-1985). Special missionaries completed their work in August 1984 and were soon dismissed. Unfortunately, the Kremlin had not explained the reason for this mission to Mongolians. A noble USSR might have thought that a weak country, such as the People’s Republic of Mongolia (PRM), should not hear the explanation saying, “We are doing well with Beijing, and you will no longer despise China.” The Kremlin had proved its will to develop the relationship between the Soviet Union and Chine by removing Tsedenbal Tsedenbal, who did not realize the current situation. Shortly after Moscow took its next major step in partnering with Beijing and suddenly recalled about 100,000 troops from the PRM. The PRM was just a ‘brother who had to obey’ for the Societ Union. The Soviet leader, Mikhail Gorbachev, did not let Ulaanbaatar know when he decided to withdraw troops from Mongolia to normalize Chinese-Soviet relations in 1989. The Democratic Party of the PRM at that time had been in a panic for a while after he watched the news on Soviet Central Television. Perhaps, if the Kremlin told about its relations with China, Tsedenbl would have done things differently. Al least, he would not have expelled the Chinese people from Ulaanbaatar. But most of the Mongolians left with uncertainty due to the Kremlin’s “disregarding”. In other words, the confusion remains the same as "the more you dislike the Chinese, the more you Moscow will love you.”

Three. New china and the old mindset

The interdependence between the two neighbors of Mongolia has entirely changed from the XX century. China, the great founder of socialism and communism with the help of Russia became a history. Further, China, which endured Soviet pressure and threats, has reformed and strengthened, competing with the USA and Europe with technology. That’s how powerful China was forged, giving hope to Russia, which was entered in international sanctions, to develop. We all see that Russia's biggest hope in the West is China, which is building its competitiveness against the Westerns. Journalists from credible media sectors such as CNN and BBC are talking about it. The time that we hoped that “as long as you dislike Beijing, we will be loved by Moscow” passed by already. However, Tsedenbal Yumjaa is an example in the mid-’80s, the XX century of what will happen if one barges between China and Russia again. I did not say to “hate Russia” or to reduce to love. We owe respect and love for the Soviet Union, which have guaranteed the independence of Mongolia in the 20th century. However, the way we show love and respect to Russia is out of ages. Beijing expressed their anxiety and delivered a referendum to Moscow following the decision to expel Chinese people from Ulaanbaatar in 1983. (Beijing did not express resistance to Ulaanbaatar) Moscow responded to id immediately and murdered Tsedenbal if you remember. “What I mean is, trying to offend China and make Russia happy” may offend both. Interrupting when two superpowers are trying to reach an agreement is not a good option.

Four. Tomorrow without virus

China and Russia are our eternal neighbors. Do not hate and envy both of them. As of ’70-’80s in the 20th century, a mindset that “as much as hate China, it will be loved by Moscow’ assumed as past history. Also, we need to understand and cope with Russian westernization. Even though they are white and Europe they have been discriminated to other Europeans. It would not seem that difficult to understand this. Moscow and Beijing have no obligation to handle our peace. Finally, China will win (to Coronavirus). If they will not conquer the disease, we will be defeated by that illness either. That is why we should Pray for China...In the meantime, we need to get rid of the virus that stuck in our minds.

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Tugrik rises against yuan as Mongolia closes border with China www.news.mn

Mongolia’s currency has risen against the Chinese Yuan as the country closes the border with its southern neighbour in a raft of measures to prevent the spread of coronavirus.

Normally, the exchange rate of the Mongolian Tugrik against the yuan weakens before Tsagaan Sar (Lunar New Year); this is due to the increased flow of small traders to China. However, this year is quite different following Mongolia’s suspension of train travel between Ulaanbaatar and Erlian, which is the Chinese nearest city across the border. The ban will last until 2 March.

Currently, one yuan (RMB) buys 391 Mongolian Tugriks (MNT); last month it was MNT 400.

Meanwhile, people are buying US dollars; today’s rate is USD 1 for MNT 2745 – an increase from MNT 2727.34 in December, 2019.

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The Hu Effect: Mongol Music on the Global Stage www.news.mn

A public discussion entitled, ‘The Hu Effect: Mongol Music on the Global Stage,’ will take place at University of Arkansas on Monday (10 February). The discussion will be hosted by Professor Charlotte D’Evelyn, assistant professor of music at Skidmore College in Saratoga Springs.

This talk investigates the sudden worldwide popularity of the Mongolian folk rock band The Hu, whose song “Yuve Yuve Yu” reached over a million hits on YouTube less than a month after its release. What was it that made this song so popular and what can we learn about Mongolian traditional music by studying The Hu?

D’Evelyn’s talk introduces The Hu and their breakout success firstly, to illustrate the new ways that global media circulate in today’s world, and secondly, as a gateway for understanding traditional and contemporary Mongolian music cultures.

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Mongolia Looks at Boosting its Presence in Southeast Asia www.asian.travel

Wilderness and vast untouched landscapes, snow and a unique mode of living, this is how Mongolia wants to attract travellers from Southeast Asia and particularly Thais as Bangkok is the only city in ASEAN to benefit from a regular –although seasonal– air connection to Ulan Bataar, Mongolia’s capital.

For a long time, Mongolia remained like a white spot on the tourism map. But it has radically changed over the last decade. In 2000, the country registered only 137,000 international arrivals. A decade later, Mongolia already accommodated over 450,000 foreign visitors. And last year, it reached a new record with 638,000 foreign travellers, up by 6.4% over 2018. “We target a million tourists for 2020 but it is more like a task rather than a number to achieve. If we pass the 700,000 tourists’ mark, it would be a very good result, especially as we might be affected as well by the current virus epidemic from China,” explained Namsrai Tserenbat, Minister for Environment and Tourism at a press conference hosted in Bangkok.

Mongolia tourism still faces hurdles. Such as transport links that the Minister deems as insufficient due to the landlocked situation of the country. “They have been some improvements and we work hard to get more air connections. We would love to have the Bangkok-Ulan Bataar turning into a year-round flight. We are currently linked from the end of October to the end of March with two flights a week by our national carrier MIAT. We also need to find ways to lower the cost of domestic transportation,” said Namsrai Tserenbat. Flights are also available from Beijing, Hong Kong, Seoul and Tianjin in Asia.

Thailand is so far the largest market in Southeast Asia. “We receive some 6,000 tourists from Thailand. It is a far outcry from our two largest Asian markets, China with 209,000 travellers and South Korea with 103,000 travellers. However, we feel encouraged as the market progresses regularly. We also recorded last year good growth from Vietnam and Malaysia,” added the Minister. Over 61% of all international arrivals came last year from Asia and the Pacific.

To boost arrivals, authorities are working to the expansion of the new website Mongolia.travel, which was launched at ITB Berlin last year. The Ministry was inspired by the website set up for the Mekong Tourism Coordinating Office with its hashtag campaign #Mekongmoments. They consequently worked with the same company, Chameleons Strategies.

“Images were the core of the project as most visitors to Mongolia are first-time traveller. Mongolia.travel is divided into regions and themes but also let local trade to advertise their product on it,” told Jens Thraenhart, Executive Director of the MTCO who introduced Chameleon Strategies to the Minister. Mongolia.Travel will come as a mobile phone app. this coming March and that will be again unveiled at ITB Berlin.

A campaign has been launched under #FeelMongolia. When travellers to the country tag their picture with #FeelMongolia on Instagram, Twitter and YouTube, they not only give others a glimpse into Mongolia’s wild beauty but they also enter a contest to win a trip back to one of the world’s most mysterious countries. ” Pictures speak more than anything else to describe Mongolia, a country of undescriptive beauty,” stressed Thraenhart.

Themes that the Ministry would like to emphasize in Asia are the vast unpopulated landscapes –tundra, lakes or mountains, the nomadic way of life of locals as well as culture and religion. “Snow is also important for our promotion in Southeast Asia as we can guarantee pristine snowy landscapes in winter,” added Namsrai Tserenbat.

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Belarus and Mongolia to cooperate on freight train assembly plant www.railway-technology.com

The governments of Belarus and Mongolia have reached an agreement to construct a freight train assembly plant in Mongolia.

Belarus’ Mogilev railway car construction plant will assist in the project.

According to news.mn, Mongolia’s Minister of Road and Transport Development, B. Enkh-Amgalan, met with the Belarussian Minister of Industry, Pavel Utyupin. During this meeting, Enkh-Amgalan put forward the proposal to cooperate on the project.

Enkh-Amgalan said that Mongolia has a high demand for cargo trains. These facilitate coal and ore mining projects that require rail for transport.

The Belarussian authorities confirmed that the countries can come to a bilateral agreement. They also confirmed that Mongolia can obtain loans from the Development Bank of the Republic of Belarus. This will fall under the terms of the €50m credit line between the two countries.

Enkh-Amgalan signed a memorandum of cooperation with the Belarusian Transport and Communications Minister Aleksei Avramenko on 27 January.

The five-year agreement deals with the implementation of joint transportation projects.

Belarus will also provide trucks and special purpose equipment to Mongolia for use in road maintenance.

MAZ, BelAZ, and other Belarusian manufacturers will supply the equipment.

In December, Ulan-Bator Railways contracted Russian Railways International for technical consulting services for the Tawan-Tolgoi to Zuunbayan rail line in Mongolia. Neither company revealed the financial details of the contract. The contract will be completed in the next twelve months.

In February 2019, the World Bank urged Belarus to introduce rail reforms and restructure the country’s railway sector in order to boost competitiveness and passenger experience.

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Mongolia-India to implement joint dairy development program www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Food, Agriculture and Light Industry Ch.Ulaan received Ambassador of India to Mongolia M.P.Singh on February 3.

At the meeting, the sides exchanged views on implementation of a working plan, which was established during the Mongolian President’s visit to the country, between the Mongolian Ministry of Food, Agriculture and Light Industry and India’s Ministry of Fisheries, Animal Husbandry and Dairying on Cooperation in veterinary hospital and dairy sectors as well as a project on Mongolia-India joint dairy development program that will be newly launched.

Today India is the world’s largest milk producing nation with production of 175 million litres of milk per year and it takes up 21 percent of this field in the world market. The Indian Government has been realizing ‘Operation Flood’, the world’s biggest dairy development program since 1970, coherently developing all the stages from rural small farmers to consumers in the cities and creating sustainable supply system. To introduce the practice in Mongolia, the sides came to a decision to collaborate and launch the project ‘Mongolia-India joint dairy development program’ from April this year.

In frames of the project, the Mongolian side will develop cooperation with organizations including India’s National Dairy Development Board, Mujhkuwa dairy cooperative society and AMUL cooperatives to carry out activities in four main areas, namely development of institution, climate resilient product manufacturing, marketing, management and monitoring.

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A new unit at veterinary vaccine factory opens www.montsame.mn

A second unit of a virus vaccine factory named after State Prize Laureate veterinarian Kh.Tsodoi opened yesterday, February 4.

Aimed at improving its vaccine manufacturing capacity to prevent from foot-and-mouth-disease, Mongolia launched a MON5023 project in 2014 with support from the International Atomic Energy Agency (IAEA).

As part of the project with EUR 360 thousand financing from the IAEA, the Government of Mongolia has provided a total of MNT 100 million for developing vaccine processing technology.

The newly-built factory enables domestic manufacturing of veterinary vaccines, including dilution and packaging of vaccine thickening agents and is deemed to facilitate progress in preventive measures against the disease of livestock animals and a quick response to any emergency situations.

Due to various factors of global population growth and density, migration, climate change, global trade and tourism, the overall number of outbreaks of viral infection diseases among population and animals has been increasing.

“As 75 percent of emerging infectious diseases are zoonotic, world countries are facing challenges to prevent and take control on the spread of infectious diseases” said Minister of Food, Agriculture and Light Industry Ch.Ulaan during the opening ceremony of the new factory unit.

The Mongolian government purchased a small factory named “Station against Cattle Plague” operated by foreign nationals in 1923, laying the foundation for the first state-owned factory in the country’s agricultural, veterinarian and biotechnology field.

The virus vaccine factory produces around 40 types of biological substances designed for preventing animal infectious diseases.

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Mongolian Saiga antelope population reviving? www.news.mn

Recently, there has been great concern about the declining numbers of Mongolian Saiga antelopes. However, there is good news: the World Wide Fund for Nature (WWF) has reported that the population of the animals reached 5074 in January 2020, representing an increase of more than 1000 within a year.

There were less than 3,800 Mongolian Saiga antelopes, counted at the end of 2018, down nearly 40 percent year on year, according to the World Wide Fund for Nature (WWF).

Several factors, including infectious diseases, harsh weather conditions and poaching, have negatively affected the growth of the population.

To help the critically endangered species overcome harsh winters, experts from the WWF have been taking desperate emergency actions, including putting a ton of additional hay or 400 bundles in the animal’s ranges over the past winter.

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Coronavirus may cripple fuel demand in all of Asia www.rt.com

The coronavirus hasn’t just led to a slowdown in fuel demand in China, it’s also starting to impact the demand for transportation fuels in wider Asia.
Demand for jet fuel, gasoline, and diesel is likely to be suppressed in the coming weeks, potentially prompting Chinese and other Asian refiners to cut refinery rates, analysts say.

The slowdown in China’s fuel consumption is also aggravated by an extended period of public holidays for office workers and multinational corporations—including Google, Apple, McDonalds, and IKEA, to name a few—suspending operations or shutting down offices, stores, and restaurants.

The weaker fuel demand in China is spilling over onto weakening refining margins for processing crude oil into jet fuel, gasoline, and diesel. Therefore, refiners in China—and elsewhere in Asia—are likely to slow down refinery run rates amid depressed demand and an oversupply of fuels, sources who trade, supply, or refine crude oil across Asia told Bloomberg.

If refineries cut throughputs, a secondary victim of the virus outbreak could be crude oil demand in the world’s key oil demand growth driver, Asia.

“Fears of weaker demand have weighed on refinery margins, and continued weakness could see some refineries cut run-rates in China. If we were to see this, it would likely be the independent refiners who are first to cut, given their focus on the domestic market,” ING strategists said on Friday.

China has significantly boosted its fuel export quotas for 2020, but those quotas were handed only to large state-owned enterprises, not to small independent refiners.

The first hit comes to demand for refined products in China and across Asia, but a protracted health crisis with more travel restrictions could have a sizeable impact on China’s economic growth, which has already been weakening due to the US-China trade war.

Weaker growth could spill over to the crude oil demand growth of China—the world’s largest crude oil importer and the main engine of oil demand growth in recent years.

The World Health Organization (WHO) said on Thursday that the outbreak is now a Public Health Emergency of International Concern, but stopped short of advising travel or trade restrictions.

“The Committee does not recommend any travel or trade restriction based on the current information available,” the WHO Emergency Committee said on Thursday, prompting a mini relief rally in oil prices early on Friday.

Yet, overall sentiment in the oil market was decisively bearish for a second consecutive week, despite a massive loss of crude oil supply from Libya.

Analysts are still struggling to quantify the impact of the virus outbreak on the Chinese economy and on oil and fuel demand, and the unknowns are unlikely to clear up over the next few weeks.

According to S&P Global Platts Analytics, oil demand could drop by 200,000 bpd over the next two to three months. This demand erosion would represent around 15 percent of the expected oil demand growth this year. But if the coronavirus turns out to be as deadly as the Sudden Acute Respiratory Syndrome (SARS) was in 2003, then crude oil demand loss could be in the region of 700,000-800,000 bpd—more than 50 percent of the oil demand growth estimate for this year, S&P Global Platts Analytics says.

As per IHS Markit estimates, the potential maximum economic impact of the coronavirus on China’s economy—based on a benchmark using the SARS economic impact in 2003—could be a 1.1-percentage-point reduction in Chinese economic growth from the baseline IHS Markit forecast of 5.8 percent growth this year.

“Mainland China’s impact on the world economy is also much larger now than during the SARS outbreak, meaning the slowdown in Chinese growth may be a significant drag on global growth,” IHS Markit said this week.

Until clearer indications of the virus impact on oil demand emerge, the market will continue to be weighed down by fears of sizeable demand destruction.

“This thing still in the process of rearing its ugly head and that’s why oil is taking this so hard because this could really turn into an acute drop in demand at least for a time,” John Kilduff, partner at Again Capital LLC, told Reuters.

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'Vision - 2050', development policy document submitted to the Parliament www.montsame.mn

Ulaanbaatar /MONTSAME/. On April 30, 2019, Prime Minister of Mongolia U.Khurelsukh issued an ordinance to establish a working group to evaluate the development stages of Mongolia in the past three decades and formulate an official document, determining the country’s long and midterm development policy.

The working group, headed by Chief of the Cabinet's Secretariat Ch.Oyun-Erdene, involving more than 1500 people, scholars and experts, secretaries of state of 13 government ministries, heads of some agencies, universities and civil society representatives worked on the document for eight months.

The completed “Vision – 2020” was presented to Prime Minster U.Khurelsukh on January 3, 2020 and the cabinet discussed and backed the draft document on January 26.

Today, January 31, Head of the working group Ch.Oyun-Erdene submitted the draft document to Parliament Speaker G.Zandanshatar for having it approved by the parliament.

The Parliament of Mongolia will discuss the draft “Vision - 2050” during its spring session of 2020.

The long term development policy of Mongolia titled “Vision - 2050” has 9 fundamental goals and 50 development targets, which are carefully divided into three groups of actions of 10 years for 2020-2030, 2031-2040, and 2041-2050. Following missions are identified to be achieved, focusing on the vision of “Mongolia becoming a leader with its economic growth and social development and a country that achieved sustainable preservation of its nature, language, territorial integrity and culture”.

1. Shared values of the nation – “Growing as a nation with a deep sense of national identity sharing common values”.

2. Human development - "Bringing Mongolia’s Human Development Index value to 0.9 and to be ranked in the top 10 countries of the World Happiness Index".

3. Life quality and middle class - "Increasing the population share of the middle-income groups sustained by favorable living conditions up to 80 percent by 2050”.

4. Economy - "Stepping over the threshold of developed countries by growing the GDP by 6.1 times and GDP per capita by 3.6 times to USD 15 thousand”.

5. Good governance - "Establishing a good governance with full respect for human rights and justice and zero tolerance for corruption".

6. Green growth - "Promoting environmental sustainability combined with green growth".

7. Peaceful and safe society -"Creating internal and external environment to protect the vital national interests”.

8. Regional development - "Developing in-country regions that have joined regional economic integrations and with sustainable structure of human settlement and competitive qualities".

9. Ulaanbaatar city and satellite cities - "Building people-centered cities with comfortable and environment-friendly living conditions".

Considering all this, emphasis of the long term development policy will be put on creating a nation with common principles and consciousness, improving the systems related to human development, health care, education, family, science, innovation and labor, and fostering middle class growth, engaging in reforms to the social protection and insurance systems, creating an efficient system of affordable housing provision, supporting startup businesses and promoting healthy and active lifestyle.

Owing to the fact that an adequate identification of key economic areas will help paving the way for further growth, creating healthy environment for economy; mining and agriculture driven by balance between extractive and processing industries, as well as manufacturing industry (Heavy and Light and Food industries), energy, transportation and logistics and tourism sectors and creative industry with knowledge-based approaches will be given higher positions.

Moreover, goals to ensure stability of governance, streamline to the distribution of power, and control, and organizational structures of government organizations, to develop e-governance and improve the professional capacity and expertise of civil servants and ethics, to strengthen the civil society-private-public partnership, to reinforce the rule of law and to build governance with no corruption are also incorporated.

The long term policy further encompasses reduction of urban bound migration and population density, implementation of economic policy across the country’s territory arranged into six economic regions, investment in the preservation of national culture, sustainable system of population settlement, inheritance of traditional and natural landscape with a balanced ecosystem achieved to future generations, economic diversification, development of green production and development of capital city Ulaanbaatar and satellite cities.

The full version of the ‘Vision – 2050’ long term policy development policy is made available online to receive comments and suggestions from the public for the document.

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