Minister of Finance Khurelbaatar Chimed and ADB Country Director for Mongolia Yolanda Fernandez Lommen signed the agreement at a ceremony in Ulaanbaatar. Members of the ADB Board of Directors, led by Executive Director Kshatrapati Shivaji, witnessed the event. Representatives from the Ministry of Environment and Tourism also attended.

“This marks ADB’s first project loan in Mongolia to focus on tourism and protected area management,” said Fernandez Lommen. “ADB’s support promotes the country’s strategies and efforts to diversify the economy, improve climate-resilient infrastructure, protect the environment, and increase economic opportunities for residents in rural areas.”

The project will benefit around 11,000 residents as well as improve local environmental conservation and climate change adaptation and mitigation efforts. Khuvsgul Lake in Khuvsgul Lake National Park is Mongolia’s largest freshwater resource, while Onon-Balj National Park is the birthplace of Genghis Khan, a revered leader in Mongolia’s history.

In 2017, tourism comprised 11.4 per cent of Mongolia’s GDP, while generating $1.2 billion in revenue and providing 121,500 jobs. Developing tourism is a government priority to help diversify the economy. By 2028, tourism is forecast to provide 11.0 per cent of GDP, $2.1 billion in revenue, and provide 149,000 jobs. International visitors alone are expected to double to one million.

The Sustainable Tourism Development Project will improve planning for community-based tourism that will both support visitors but also create local income generation opportunities.

It will also upgrade tourism infrastructure, including tourism centres such as the Genghis Khan Tourism Complex and ticket booths, install toilets and other waste management facilities that will benefit both tourists and the host communities, and improve park management to safeguard wilderness areas. It will also pilot test Mongolia’s first tourism concession manuals and eco-certification programmes for protected areas.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Last year, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members – 49 from the region. GOGO MONGOLIA/ASIA NEWS NETWORK

Asia Cup 2017 winners Mongolia continue impressing with every new event. The Asian 3x3 powerhouse defeated Russia 21-14 and then Estonia 20-17 to finish undefeated on Day 1 at the World Cup and top Pool B. Puerto Rico, Ukraine and Russia are tied with one win and the third day of competition will decide who will stamp their tickets to the quarter-finals.

In the other men's pool, Asia Cup reigning champs Australia started with a split record. After defeating Brazil, the Aussies lost to Poland in a really intense game that was decided in the last seconds. Europe Cup 2017 winners Latvia also started with a victory over Japan. Brazil could not bounce back after their first loss against Australia and were defeated by Japan in their second game of the day. Latvia and Poland met in a rematch of last year's World Cup Quarter-Finals with Poland going back to the hotel with a 15-13 win in the pocket.

In the women's category, Sonia Ursu stole the spotlight after leading Romania to a 2-0 record in women's Pool C thanks to two wins over Czech Republic and Mongolia in the Tissot Fastest Game of the day. Spain are second with two victories over Czech Republic and Iran.

Scholars and professors from Jilin University of China, Moscow State University of Environmental Engineering, East Siberia State University of Technology and Management and the University of Salford of the United States took part in the international conference, organized by the Institute of International Affairs of the MAS, having discussions on over 10 presentations under topics ‘Mongolia-Russia-China Economic Corridor’, ‘Governance and regional cooperation between China, Japan and S.Korea in globalization’, ‘Foreign trade and economic development of Mongolia’ and ‘New achievements in relations between Mongolia and China in the regional integration’.

Senior researcher of the Institute of International Affairs, Dr J.Bayasakh said “In general, the feasibility studies of projects and programs to be implemented within the Economic Corridor of the three countries have been made. Next year, International Energy Network Center will be established in Ulaanbaatar. Therefore, our country should pay attention on improving its infrastructure, developing highways and forwarding modernization of railways."

The installation will supply 23.1GWh per year to the national grid, which powers Ulaanbaatar city and a new national airport that is scheduled to complete this year. The plant, representing 18,000-plus tonnes in CO2 savings, was built with support from the Japanese government.

The Khushight Khundii project follows Sharp’s completion last year of a PV plant, also boasting 16.5 MW of capacity, in the southern desert province of Dornogovi. The firm was also behind a 10MW project announced in 2016 northwest of Ulaanbaatar, described at the time as Mongolia’s first utility-scale PV scheme.

Mongolia is progressing towards a 30% renewable target share by 2030 as it works to power fast-growing Ulaanbaatar and other areas.

Since its establishment in 2006, Erdenes Mongol did not report any profit until 2015. However, the company’s net profit amounted to MNT 41 billion in 2016-2018. Such profitability was the result of increased coal prices and coal transportation from Tavantolgoi to China.

Despite the increase in total profitability, EM and its subsidiaries do not pay dividends regularly to the Mongolian State Fund. However, some state-owned mining companies such as China Shenhua Energy, India’s Coal India, and Indonesia’s Antam pay 30-100 percent of their profits regularly to the state fund.

According to a study, EM has received external loans and assistance due to the deficit in financial reports, but the government and authorities’ monitoring on the matter is inadequate. By the end of 2017, the debt totaled MNT 877 billion. This is becoming a high risk for taxpayers.

The Government of Mongolia is the 100 percent owner of Erdenes Mongol LLC. The Government can improve the living standards of its people by implementing the activities in four areas, including functionality, management, and human resource, transparency, and control in order to make Erdenes Mongol profitable until 2035.

The average tenure of executive director of Erdenes Mongol's subsidiaries is 1.7 years. When the executives are replaced, over 80 percent of management teams are replaced as well. It is one of the main factors that Erdenes Mongol is not being profitable.

Delegates attended the opening of the joint archaeological excavation of the Izmir Katip Celebi University and Mongolian University of Science and Technology (MUST). Excavations will be conducted in Orkhon Valley, near the ruins of Ordu Baliq.

During their visit, the delegates signed partnership protocols with the National University of Mongolia, University o fMedical Sciences and MUST respectively. They also visited the TIKA Ulaanbaatar Office, Embassy of Turkey in Ulaanbaatar and the National Academy of Governance.

Some organizations that are against animal abuse have uploaded a video of Mongolian herders combing a coat in a rude, old-fashioned way. This caused the world's apparel firms and cashmere processors to seek other options over Mongolian cashmere. H&M’s representative in Asia Sherry Gu said, “Some large-scale international brands are turning away from products that are environmentally harmful and abuses animals. However, this does not mean that cashmere products will come to a complete standstill. We are ready to purchase cashmere at a high price from Mongolia if it is prepared in a sustainable way, such as being environmentally friendly, and taken from healthy livestock without child labor.”

However, the Mongolian herding method is unique and has a long root in history. This is a part of our culture and tradition. Also, it is important for Mongolians to let the world receive and understand this culture, rituals, and traditions.

If Mongolia manages to improve its cashmere preparation system and proves that it is friendly to the environment, the country will be able to uplift commodity prices and dominate the world market.

Dr. Helen Crowley, the Conservation and Ecosystems Services Specialist at Kering, expressed her opinion on improving the value of Mongolian cashmere.

-How do multinational companies value Mongolian cashmere?

-Our company has been drawing cashmere from Mongolia for years. Over the last five years, we have been focusing on supporting sustainable cashmere production. It focuses on herders who play the main role in the supply chain of cashmere. We also studied the methods of attracting cashmere without harming the environment and any adverse impact on animals with the local specialists and non-governmental organizations. As we study the situation in Mongolia, it seems to have a high potential. The Mongolian livestock sector can supply cashmere with a sustainable, environmentally friendly way to improve material quality.

-How do you estimate the capacity of Mongolia’s cashmere supply?

-Mongolia is a global supplier of cashmere. There is also a history of a magnificent culture in Mongolia. Based on this tradition, I am sure the country can improve the quality of its cashmere.

Prime Minister U.Khurelsukh, Minister of Health D.Sarangerel, Minister of Foreign Affairs D.Tsogtbaatar, Minister of Foreign Affairs of Japan Taro Kono, Director of MNUMS J.Tsolmon and other corresponding officials attended the ceremony.

Alongside the construction work of the hospital, the installation of the latest equipment and technology, such as high-capacity diagnostic MRI and CT equipment, coronary angiography kit and fully automated analyzers were funded through the aid.

Surgery, internal medicine, pediatrics, gynecology, intensive care--health care services for a total of 17 specializations will be available. In his speech at the opening ceremony, PM U.Khurelsukh highlighted that the number of citizens going to other countries for health care will decrease as a result.

During the opening ceremony, Minister of Foreign Affairs of Japan Taro Kono was awarded an Honorary Doctorate of MNUMS in recognition of his contribution to the health sector of Mongolia and the development of the university.

After conducting tests of the equipment as well as training for the medical specialists, the hospital will start giving health care services to citizens from October 1, 2019.