BDSec MONGOLIA DAILY DIGEST: MONGOLIA SUPPORTS CASHMERE INDUSTRY
April 1 (BDSec) In line with cashmere being one of the Mongolian brand products, GOM decided to support the technological improvement of cashmere sector by issuing MNT 95 billion loan from Chinggis bond. The "Cashmere Sector's Technological Renovation" project will create 20,000 new jobs and over 200 new (small) cashmere factories. The project will limit raw cashmere export and support export of value-added products.
Amended Draft of Securities Market Law (#4-th item on the list), and Amendment Draft of Strategic Foreign Investment Law (#3 item) will be discussed by the Spring Parliamentary session (udriin sonin p. 5)
• Passing these two laws will have critical effect on Mongolian capital market. Spring parliamentary session will start this Friday, April 5th.
Zamyn Uud's heavy load road is financed by MNT 33 billion (politics p.2)
• The GOM has decided to finance 8.7 kilometer road between customs X-ray area and transshipment area with MNT 33 billion.
• As a result, the customs capacity will increase and will generate easier access for heavy load trucks.
• "Tavan Tolgoi power plant" 34% state owned company is to be founded (www.news.mn/economy)
• GOM has decided to incorporate 34% state owned "Tavan Tolgoi power plant" company with 66% private ownership. The capacity of the plant will be 450 Mwatt.
Mongolia Seeks to Play Peacemaker as North Korea Declares 'War' (Bloomberg)
• Mongolia called for six-party talks to be resumed after North Korea said it's in a "state of war" with its neighbor to the south.
• "Mongolia would like to extend its relationship with North Korea," Prime Minister Norovyn Altankhuyag said at a press conference in Ulaanbaatar with his Japanese counterpart Shinzo Abe.
• "Mongolia can contribute if they initiate any meetings."
• The Japanese leader announced a 4.2 billion-yen ($45 million) loan to upgrade Ulaanbaatar's Power Station No. 4, built by the Soviets in 1981.
• Japan also aims to assist Ulaanbaatar to build its first metro line, a 10 1/2-mile train line with 3.7 miles to be dug underground, according to a press release issued by Mongolia.
• The cooperation agreement also includes the development of a new international airport and Mongolia's first oil refinery.
• Passing these two laws will have critical effect on Mongolian capital market. Spring parliamentary session will start this Friday, April 5th.
Zamyn Uud's heavy load road is financed by MNT 33 billion (politics p.2)
• The GOM has decided to finance 8.7 kilometer road between customs X-ray area and transshipment area with MNT 33 billion.
• As a result, the customs capacity will increase and will generate easier access for heavy load trucks.
• "Tavan Tolgoi power plant" 34% state owned company is to be founded (www.news.mn/economy)
• GOM has decided to incorporate 34% state owned "Tavan Tolgoi power plant" company with 66% private ownership. The capacity of the plant will be 450 Mwatt.
Mongolia Seeks to Play Peacemaker as North Korea Declares 'War' (Bloomberg)
• Mongolia called for six-party talks to be resumed after North Korea said it's in a "state of war" with its neighbor to the south.
• "Mongolia would like to extend its relationship with North Korea," Prime Minister Norovyn Altankhuyag said at a press conference in Ulaanbaatar with his Japanese counterpart Shinzo Abe.
• "Mongolia can contribute if they initiate any meetings."
• The Japanese leader announced a 4.2 billion-yen ($45 million) loan to upgrade Ulaanbaatar's Power Station No. 4, built by the Soviets in 1981.
• Japan also aims to assist Ulaanbaatar to build its first metro line, a 10 1/2-mile train line with 3.7 miles to be dug underground, according to a press release issued by Mongolia.
• The cooperation agreement also includes the development of a new international airport and Mongolia's first oil refinery.
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