Invest Mongolia Tokyo on November 19 www.mongolianbusinessdatabase.com

It is only about 7 days until Invest Mongolia Tokyo will be held on November 19.
Already more than 200 people are registered to the event. 
The conference will be from 9am to 6pm on November 19.

An “Alternate Economy” Run by Chieftains www.blogs.ubc.ca

The term “informal economy” or “shadow economy” applies to a segment of the economy that is not registered, regulated, monitored, nor taxed, and yet manufactures, offers trade and services, and earns and spends income. It may also refer to the underground economy of robbery, corruption, illegal trades, and organized crime.

Alternatively, in Mongolia, a different type of economy led by parasite chieftains has formed, suppressing economic growth and social development. An “economy” so self-sustainable and circular, to the point that it extracts finances from the state budget and in turn has the political rights to spend the state budget. They approve laws and develop programs with the best possible humanitarian names, such as developing SMEs, supporting agriculture, innovation, for herders, locals, protecting animal husbandry, and promoting disabled people, which sound as if they’ll indisputably serve the citizens. Billions are allocated for these laws and programs in the state budget. Not only state funds, but tenders, concessional loans, bond loans, and whatever other ways to extract money from the state budget is an option for financing. This is not an underground economy; these processes are being registered, and their loans, budgets, taxes, and reports all seem like they’re running smoothly, legally, all according to the policy and regulations. Unfortunately, those funds will be distributed as loans, tenders, and grants in all stages only benefitting a few number of chieftains, ministers and political groups, without a penny going to the real owners or citizens. The allocation is done by chieftains of political groups unofficially. While the Mongolian economy belongs to 3.2 million people, this economy revolves around 10,000 (?) people, eliminating any opportunities for others to run their own business and innovate, devouring the majority of the country’s net profit and revenue.

These parasite members of the economy gain advantages by borrowing billions in interest free loans through backdoor deals, and then build their “SMEs” easily, or even just put it in their bank savings account, establish a non-banking financial institution and launder money with high interest rates, and/or earn unrealistically high profit within a short amount. Meanwhile, real business owners will borrow those high interest loans for their business to barely survive.

As for the “tax” and dividends, the “business owner” has no choice but to compensate these to the group which enabled the owner to get the multi-billion interest free loan. This is the real reason behind the instant expansion of some businesses, sudden construction of extravagant buildings, money laundering through real estate rents, immediate gain of wealth, and the reason land prices goes through the roof. The profit is then used to finance politics, donate to their own political party, buy off media and followers, and create an army of commenters brainwashing for their side. Whoever has the most followers, collects the most bag-holders (workers), pays them, and feeds them, are political businessmen, corporate owners, and has the most power. Gradually, one fraction of the political party or the whole party will be privatized and a private party will be formed. This is the reason why whoever can carelessly spend money in elections, why people own private television channels, and put a stop to media using a non-disclosure agreement. This is also the reason why the “political party”, despite its name, has turned into a political corporation.

Certain units such as party branch committee who work with low salaries to do the dirty work exist to fraud voters, press on their soft spot and oppress them, and distribute cash. During the election, part-time job seekers of the “we can do it” club, who allegedly distribute money and influence certain voting within certain groups, also surround the candidates. This is how political part-time jobs make up quite a bit of the labor market and income share within the Mongolian economy, and how political businessmen and corporation owners have become bosses and benefactors.

These workers do not in their conscious minds realize that they’re supporting this political network, distributing money, brainwashing the public, oppressing them, and going so low as to back-scratch these politicians, at the expense of their children’s future and their chance for a better life, all just for a small amount of money. Even ordinary citizens in both the city and rural areas have polarized political views, dividing and arguing with their brothers and friends on behalf of the parasite chieftains that they’ve declared superior. They do so in hopes that after the election, they’ll get their fair share, a crumb of the giant cake, that is the money to be extracted from the state budget. Many young people, in the name of doing politics, are “hired” in this political corporation. They show their loyalty to their master, become a cell, a tissue in the well-being of this parasite economy while unaware that they’re destroying their own future. Political corporation owners’ income and playing ground expands as individuals and businesses become poorer, their lives and businesses more challenging and burdensome. Hence, it’s in the chieftains’ best interest to evoke political instability, counteract new force and healthy thoughts, instigating the public against foreign and domestic investment, local, fair businessmen and wealth creators, and creating confusion and disorientation. Foreign interests interfere as well.

Thus, a country has formed inside a country, an alternative parasite economy within an economy. This economy benefits no ordinary citizen or business, rather revolves around the “chieftains”, their followers, and the election team which will distribute money for them. In other words, an economy for chieftains. Because this economy sucks the most from newly created wealth and state budget, no money is then available to increase teachers’ and doctors’ salaries, to build kindergartens and elementary schools, or to lend the real business owners. This is the reason jobs are not available, loan interests do not decrease, currency is unstable, businesses grow only too little no matter how hard one tries, and life does not improve.

Mongolia, and every Mongolian is being robbed of their opportunity to build, make, work, and create their future because they are seized by this parasite system and unknowingly serve it. Real change will happen not only by dethroning a few ministers and parliament members, but by eradicating this political financing structure which feeds on the state budget and ridding the state of relevant politicians. This will only be easily achievable when Mongolian people stop opposing each other politically and rather, oppose these insatiable chieftains.

About Naidalaa
Naidalaa was born in Ulaanbaatar, Mongolia (1975). He holds a BA in Business Economics from the University of Finance and Economics of Mongolia and a MSc in Economics from the University of Kobe, Japan. Naidalaa mainly worked in banking and business industries, and lead the non-governmental institutions: Mongolian Bankers Association (MBA) and Mongolia Economic Forum (MEF). In his early career, he also lectured economics at the University of Finance and Economics (UFE) of Mongolia. Areas of his interests include national development strategy, nation building, economics, sustainable development, green finance and investment.

He is also a party leader and one of founding members of the National Labor Party of Mongolia.

British Columbia revises law that regulates the environmental assessment of major resource projects www.mining.com

The British Columbia government announced this week that, after one year of consultations with Indigenous peoples, industry, communities, environmental organizations and the public, it introduced legislation to modernize the environmental assessment of major resource projects.

In a media statement, the provincial administration said that the idea behind the changes is to provide "a clear and timely path for the approval of responsible resource projects, pursue reconciliation with B.C.’s Indigenous peoples, increase public engagement and transparency and deliver stronger environmental protections."

The new legislation is also part of the Confidence and Supply Agreement signed between the National Democratic Party and the Green Party when the former was pushing to form a minority government in last year's regional election.

“Revitalizing the environmental assessment process is a key shared commitment because we both recognize the need to strengthen public trust in government decision-making,” said Sonia Furstenau, MLA for Cowichan Valley, in the media brief. “It is vital to modernize the EA process so that important considerations like climate change, cumulative impacts and new scientific standards are properly incorporated. I look forward to discussing the legislation further, so we can ensure that the wealth of our natural resources and the well-being of our ecological systems can be enjoyed by British Columbians for generations to come.”

"As a significant private sector employer of Indigenous peoples and a major partner with Indigenous businesses in British Columbia, B.C.’s mining sector is a leader in advancing reconciliation," Bryan Cox.
The legislation is expected to provide increased clarity and certainty to project proponents through an early engagement phase that will identify the focus areas for the project assessment prior to proceeding through an environmental assessment.

Additionally, the law is expected to enhance public engagement by including additional comment periods and earlier collaboration between the Environmental Assessment Office and local communities. It is also aimed at improving the ability to more fully assess positive and adverse environmental, economic, social, cultural and health effects, including greenhouse gas emissions, and require their consideration in decisions. Finally, the plan is that it also strengthens compliance and enforcement for approved projects, along with audits, to make sure conditions included in EA certificates are mitigating identified adverse effects as intended.

"B.C.’s mining industry is committed to ensuring that responsible, community-supporting natural resource projects have a clear, fair and timely path to approval under the modernized Environmental Assessment legislation," said Bryan Cox, President and CEO of the Mining Association of BC, in the media brief. "B.C.’s mining sector also plays an essential role in our transition to a low carbon economy through the commodities we mine. MABC will continue to work with government, Indigenous peoples and other important stakeholders to provide critical input to ensure the smooth transition and practical implementation of British Columbia’s new Environmental Assessment Act," Cox added.

Alibaba Singles Day sales frenzy surpasses records www.bbc.com

Internet giant Alibaba has set new sales records on Sunday for its biggest shopping day, the annual Singles Day.

China’s oil imports surge to record high www.rt.com

China’s crude oil imports averaged 9.61 million barrels a day last month, customs data cited by Reuters has revealed, with the agency noting the amount is the highest on record.
Once again, it was the independent refiners, or teapots, that drove the increase as they seek to fulfill their import quotas before they expire.

UN adopts literacy resolution sponsored by Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ The ‘Literacy for life: shaping future agendas’ resolution introduced by Mongolia was adopted at the Third Committee meeting of the 73rd Session of the United Nations General Assembly (UNGA 73) on November 6.

Number of eco schools reaches to 286 www.montsame.mn

Ulaanbaatar /MONTSAME/ As of today, 286 secondary schools and 4 kindergartens have been registered in Eco School international program, based on ISO 14001 environmental management system, which aims at ingraining environmental-friendly lifestyle.

Small wastewater treatment plant begins operation in UB www.news.mn

A small wastewater treatment plant with a capacity of 20,000 cubic meters has been opened in the Khan-Uul District of Ulaanbaatar. The facility, which was opened on 6 November, will serve160,000 households from the Yarmag and Nisekh apartment complexes; it was constructed by the HNC Company at a cost of MNT 33 billion from the State Budget. This will help decrease burden on the central wastewater treatment plant which is currently operating with 190,000 cubic meters.

Mongolia celebrates birthday of Genghis Khan www.xinhuanet.com

Mongolia on Thursday celebrated National Pride Day, which commemorates the birth of the legendary conqueror Genghis Khan more than 800 years ago.

MPP defends scandal hit MP over SME fund www.news.mn

The public will be watching Mongolian Prime Minister U.Khurelsukh’s government for its reaction to massive allegations of misuse of its Small & Medium Enterprise Fund.