Sunday, July 6, 2014

Mongolia Brief July 4, 2014 Part III

Czech parliamentary delegation to visit

Ulaanbaatar, July 4 (MONTSAME) A delegation led by Mr Petr Gazdik, a deputy chairman of the Chamber of Deputies (lower house) of the Czech parliament, will visit Mongolia July 5-10.

The delegation will be received by Z.Enkhbold, the Chairman of the State Great Khural. They will also visit the “Khustain Nuruu” natural park in Tov aimag, get au fait with implementation of a project on repairing facilities that provide Ulaanbaatar with water resources. The guests are to leg a thermal power station in Erdenet city and national vocational training center to see a project on agricultural training and a scientific and training institute of plants and land farming in Darkhan city.

Representative of NBA to pay visit to Mongolia

July 6 (UB Post) Senior Vice President of events for the US National Basketball Association (NBA), Mark Aronson will pay a visit to Mongolia on July 10 to 12, by invitation of the Mongolian Basketball Association.
During his visit, Mark Aronson will take part in a basketball festival as an honored guest and plans to see a development in basketball sport in Mongolia. In addition, he will seek an opportunity to organize a big sports event in Mongolia in 2015.
The basketball festival will take place at the National Garden Park on July 10.
Mark Aronson manages the NBA league’s 80 million USD annual worldwide event programs and overseas coordination and production of many global league events, including games in Japan, Russia, Mexico, Brazil, and Latin America, and the league’s Basketball Without Borders international program.

Injury causes Olympic Champion N.Tuvshinbayar to sit out Chinggis Khaan Grand Prix

July 6 (UB Post) The Chinggis Khaan Grand Prix Judo Tournament will kick off today at 11:00 a.m. at Buyant-Ukhaa Sports Palace.
The opening ceremony will starts at 4:00 p.m. and the final fight will start at 5:00 p.m. The competition’s official draw took place yesterday.
Olympic champion and State Honored Athlete N.Tuvshinbayar’s name was not included in the draw.
Head of the Mongolian Judo Association M.Bukhbat said, “N.Tuvshinbayar was injured. That’s why he can’t fight at the Chinggis Khaan Grand Prix. I feel bad about this issue. But his injury will be healed soon.”

A.Enkhtuul becomes Grandmaster

July 6 (UB Post) Mongolian chess player A.Enkhtuul, 20, will be officially certified as Grandmaster during the 85th FIDE Congress in Tromso, Norway from August 4 to 15.
She will become the third Mongolian grandmaster. There were only two female grandmasters before A.Ekhtuul, grandmasters B.Munguntuul and T.Batchimeg.
E.Enkhtuul earned FIDE titles of the Women’s Candidate Master in 2010, Woman FIDE Master in 2011 and Woman International Master in 2012.

The Exciting World of Mongolian Art concert to be performed

July 6 (UB Post) The Mongolian State National Song and Dance Academic Ensemble is about to stage its latest concert titled, “The Exciting World of Mongolian Art”, from July 5 to 15.
The concert coincides with Naadam Festival and 93rd anniversary of the People’s Revolution.
A total of 135 artists; including 62 dancers, 53 musicians, and 20 singers including People’s Artist D.Sambuu, State Honored Artist L.Chuluunchimeg, Cultural Merit Worker S.Tsogtsaikhan, and Cultural Merit Worker B.Batmend, will perform at the concert.
Tourists and Mongolians will gain the opportunity to enjoy Mongolian folk songs and dances, long songs, throat singing, morin khuur performances and others at the event.

‘My Brother is a Gangster’ adventure film to launch

July 6 (UB Post) Fantastic Production and F Studio, which made the comedy film “Shock of Happiness”, is about to launch its new film named “My Brother is a Gangster”.
Artist B.Tamir wrote the script and will direct the film.
“My Brother is a Gangster” stars M.Bayarbat, J.Altanshagai, E.Aldar, B.Barslkhagva, State Honored Artist Ts.Tumurbaatar, J.Oyundari, M.Khulan, A.Altantur, and S.Ariunbyamba.
According to the makers, the movie is at 80 percent completion currently. The film is set to launch in September.

July schedule of Mongolian State Academic Theater of Opera and Ballet

July 6 (UB Post) The Mongolian State Academic Theater of Opera and Ballet has released its schedule for July.
The following is the schedule:
July 6 – “Best of Classic: Open Air Show” at Chinggis Square
July 12 – “Swan Lake” ballet by Pyotr Ilyich Tchaikovsky
July 13 – “Uchirtai Gurvan Tolgoi” opera by B.Damdinsuren and B.Smirnov
July 19 – “La Boheme” opera by Giacomo Puccini
July 20 – “Choijid Tara” ballet by E.Choidog
July 26 – “Giselle” ballet by Adolphe Adam
July 27 – “Chingis Khaan” opera by B.Sharav

Cooperation agreement on energy to be signed by GoM and Oyu Tolgoi

July 6 (UB Post) The Government of Mongolia established an agreement of cooperation, entitled “Cooperation in Energy Sector in Southern Region”, between the Government of Mongolia and Oyu Tolgoi LLC, and entrusted Minister of Energy M.Sodnompil and Chairman of the Energy Regulation Committee S.Otgonbayar with signing the agreement.
In constructing the Tavan Tolgoi Power Plant, strategically important to establishing an energy system in the southern region, participation of its main power consumer, Oyu Tolgoi, is significant.
Cooperation between the parties will be regulated under this agreement.
According to clause 7.3 of the investment agreement established in 2009 between the Government of Mongolia and Ivanhoe Mines Mongolia Inc LLC, Oyu Tolgoi agreed to take responsibility for the supply of its total power consumption from power sources within Mongolia, within four years of its commencement of production. By establishing the cooperation agreement, Oyu Tolgoi is fulfilling this responsibility.

Shares of Gobi Corp. and Atar Urguu JSC reach an all-time high

July 6 (UB Post) On July 1, shares of cashmere manufacturer Gobi Corp. (GOV), registered with the Mongolian Stock Exchange, grew to an all-time high. One hundred and thirty-four shares of Gobi were sold at the unit price of 8,400 MNT, which was an increase of 7.01 percent from the previous day. As a result, the market value of the company has reached 65.5 billion MNT. For the past year, share prices of Gobi increased by a total of 61.5 percent.
During trading on Monday, share prices of Altan Urguu JSC reached 65,000 MNT, increasing by nearly 6.6 percent, and reached its highest price since it had its IPO on the Mongolian Stock Exchange.
Some analysts relate these share price increases to MNT depreciation. O.Odbayar, an analyst at BDSec JSC, noted that even if share prices stay stable, prices of shares on the Mongolian Stock Exchange in USD will decline as the MNT rate against the USD declines. The MNT depreciated against the USD by about 30 percent in the last year. Gobi’s release of financial reports is also believed to have contributed to their share price increase.

New report highlights Mongolia’s untapped potential

July 6 (UB Post) Oxford Business Group (OBG)’s new report, which marked OBG’s third analysis of Mongolia’s economy, was launched at Best Western Premier Tuushin Hotel, Ulaanbaatar, on July 1st.
The Report: Mongolia 2014 charts the country’s new infrastructural development, which, together with new legislation governing foreign direct investment and a regulatory overhaul, is expected to be instrumental in building investor confidence. There is also extensive coverage of Mongolia’s bid to encourage growth in lesser-developed areas of the economy, such as manufacturing, tourism and agriculture.
The report features contributions from President Ts. Elbegdorj and Prime Minister N. Altankhuyag, together with a detailed, sector-by-sector guide for investors. It also contains a wide range of interviews with leading political, economic and business representatives, including Japan’s Minister of Foreign Affairs Fumio Kishida, President of the European Commission José Manuel Barroso, and Canadian Governor General David Johnston.
Andrew Jeffreys, CEO of OBG, said that Mongolia’s efforts to diversify its economy were evident, while new, clearer rules for investing would bring benefits.
“In many ways, 2013 was a challenging year for Mongolia, although the country still managed to achieve double-digit growth, despite the difficult economic climate,” he said. “The legislative changes under way bode well for the country, especially if it can combine these reforms with political, macroeconomic and regulatory stability.”
OBG’s Country Director, Anne Delarue, said she was confident that The Report: Mongolia 2014 would serve as a useful tool for investors eyeing the country’s potential.
“Our publication highlights not only the wealth of untapped business opportunities which are ripe for development, but also the government’s commitment, through legislative change, to encouraging new investment,” she said. “It’s a pleasure to share our findings with the global business community and relay, in our new publication, Mongolia’s efforts to overcome the hurdles it faces and the country’s achievements.”
The Report: Mongolia 2014 marks the culmination of more than six months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments.

Sky Resort to Zaisan road paved

July 6 (UB Post) To reduce heavy traffic flow north of Bogd Mountain during Naadam Festival, especially around the Central Stadium, the ten km road from Sky Resort to Zaisan Hill has opened. Officials said that only base pavings have been completed at the road and that final layer will be completed after Naadam.
The road is part of the 17.6 kilometer road from Bayanzurkh auto checkpoint to Yarmag Bridge which has been under construction since last year and is scheduled to open on August 1.
Yarmag Bridge will be paved and launched by August 1 as planned, said officials.
When completed, the road is expected to reduce traffic load of central roads leading to Yarmag and Chinggis Khaan International Airport as drivers will be able to directly head to these destinations through the new road without having to pass central roads.
Three groups of road constructors of ESTO LLC are currently paving the road in two shifts.

Mitsubishi donates electric cars to Ulaanbaatar administration

July 6 (UB Post) On Wednesday, Japan’s Mitsubishi Motors Corporation donated two electric cars to Ulaanbaatar administrations with hopes to further cooperate in importing cars to Mongolia.
Senior trainer of Mitsubishi Motors Tsutomu Hagiwara introduced the electric car during the donation ceremony and highlighted, “This electric car is proven to be both ecologically and financially beneficial.
After the deadly tsunami in 2011, Japan has largely used electric cars for rescue operations in the affected areas.”
The car runs on fully electric motor and is capable of traveling 150 kilometers on full charge.
The electric cars do not emit toxic gasses, increase air pollution, affect the environment, make loud noises and their batteries can be charged in two options: fast and usual.
The Office of the Ulaanbaatar City Governor and the Ulaanbaatar City Authority for Environment and Green Development will use the electric cars on trial.
If proven beneficial to the city, Ulaanbaatar administrations are planning to sign a contract for electric car import with Mitsubishi Motors.
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