Saturday, February 7, 2015

Mongolia Brief February 3, 2015 Part IV

Boxers to compete in Hungary
By B. Khuder
Ulaanbaatar, February 3 (MONTSAME) Boxers of the national selected team left Tuesday for Hungary to take part in the international “A” class tournament named after Istvan Bockain to start Wednesday in Derbecen city, Hungary.

The team has comprised G.Gan-Erdene (men’s 49 kg), A.Nurlan (52 kg), E.Iderkhuu (56 kg), D.Otgondalai (60 kg), B.Chinzorig (64 kg), B.Tuvshinbat (69 kg), N.Shinebayar (75 kg) and S.Erdenebayar (81 kg).
Meanwhile, a State Honored Sportsman and Olympic medalist U.Monkh-Erdene won a silver medal in the 38th international tournament named after Duishonkul Shopokov, a Hero of the Soviet Union, concluded on February 1 in Bishkek, Kyrgyzstan. This tournament attracted boxers of Mongolia, China, Estonia, Latvia, Russia and Thailand.  

Mongolian People’s Party delivers proposal to overcome the economic crisis
February 3 ( At its regular meeting, the Mongolian People’s Party discussed a proposal on how to overcome the economic crisis and elaborated on appropriate policy for doing so, and submitted the proposal for discussion by the government. 
MPs S.Byambatsogt, Ch.Khurelbaatar, and O.Sodbileeg were active in the meeting.
A working group to elaborate on policy to end the economic crisis and elaborate on the implementation of plans to strengthen the economy is being headed by MP Ch.Khurelbaatar.
Presently, the working group has reportedly made distinct conclusions about the present economic crisis, and proposed that the government take measures for the stabilization of the macro economy, encouraging and taking a series of measures for the growth of concrete sectors, and measures for the introduction of legal innovations and social protection.
Although Mongolia's economic growth increased by 17.5 percent in 2011, during the last three years, economic growth has slowed down. In 2012 it reached 12.3 percent, and in 2013 it was 11.7 percent, falling to 6.9 percent growth in 2014.
Analysts say that the rapid decline of economic growth is due to the influence of foreign and domestic factors, but it is also due to unbalanced foreign and domestic trade policy, and poor policy put in place by the Government of Mongolian and Mongol Bank, which have supplied a lump of money to the market. The decline is also attributed to the uncontrolled utilization of financial resources and misunderstandings with several large investors, which critics say has resulted in a significant drop in foreign investment in all sectors. 

813 million USD in investments came to Mongolia in 2014
February 3 ( According to Mongol Bank, as of 2014, the payment balance of Mongolia stands at a deficiency of 985 million USD.
The deficiency of payment balance has decreased by 69 percent in comparison with the same period of last year. Herein, the loss of foreign trade accounts has decreased by 176 percent (2,322.7 million USD), with a profit of 1,002 million USD.
The asset and financial balance stands with profits of 813.1 million USD. In other words, in 2014, investments of 813.1 million USD came to Mongolia.
This amount has decreased by 43 percent, or 625 million USD. 

Over 200 thousand votes received
By E. Orgil
February 3 ( PM Ch.Saikhanbileg asks the nation which route Mongolia is to choose for its development.
The voting started on January 31 and is to close at 10PM today. As of evening of February 2nd over 200 thousand residents have voted reported Ts.Munkhtur, Media and PR Advisor to PM.
Mobile phone subscribers of four providers are to send text messages to special number 15151111 with their choice of 1 or 2 and no charges are to be applied.
Voting results will be officially announced at 11AM tomorrow at the cabinet meeting. Goverment is to discuss the vote results and to decide, which route to take and will work further on having it approved by State Great Khural.

The 2015 Program for Regional Horse Race Competitions Released
February 3 ( At the regular Cabinet meeting held on February 02, 2015, it was released the upcoming regional horse race program based on the Law of National Naadam Festival and upon the request forwarded by Federation of Mongolian Horse Racing Sports and Trainers (FMHRST).
The first biggest regional spring horse race competition, the "Dunjingarav 2015" will be taking place at the Tsagaan Khutul valley in Tuv Aimag scheduled on February 22, 2015.
Where, the spring horse race competitions for Khangai Region will be taking place in Selenge Aimag and for Gobi Region in Dornogovi Aimag both on March 01, 2015.
Moreover, the summer horse race competitions for Western Region is to take place in Uvs Aimag, Eastern Region in Sukhbaatar Aimag, Central Region - Uvurkhangai Aimag, Gobi Region - Umnugovi Aimag and for Khangai Region in Bulgan Aimag respectively on July 25-26, 2015.
Also, another big competition dedicated to the 20th anniversary of the establishment of FMHRST will be taking place in Govisumber Aimag on August 08-09, 2015.

Concession Agreements on Roads to Be Discussed
By B. Amarsaikhan
Ulaanbaatar, February 3 (MONTSAME/ The minister of Industry D.Erdenebat was obligated on Monday by the Cabinet to prepare the concession agreements ready for a cabinet discussion.
The list of state concession agreements include the agreements on constructions of roads connecting Bayankhongor with Altai (129.4 km), Altai with Darvi (165 km), connecting the Dashinchilen- Orkhon bridge road end with Moron-Tarialan road end (112.7 km), Songino soum with east coast of Khyargas lake (135.5 km), and Mandal soum with Zuunkharaa (15.8 km).

Stock Exchange News for February 3
By B. Khuder
Ulaanbaatar, February 3 (MONTSAME) At the Stock Exchange trades on Tuesday, a total of 78 thousand and 202 units of 25 JSCs were traded costing MNT 199 million 705 thousand and 087.00.
"Hai Bi Oil” /37 thousand units/, “Remikon” /20 thousand and 900 units/, “Olloo” /11 thousand and 199 units/, “Mongolia Development” /2,002 units/ and "Khokh gan” /1,570 units/ were the most actively traded in terms of trading volume, in terms of trading value were "Hai Bi Oil” (MNT 20 million and 350 thousand), "Gutal” (MNT two million 972 thousand and 700), “UB-BUK” (MNT two million and 850 thousand), “Material impex” (MNT two million and 088 thousand) and "Remikon” (MNT one million and 881 thousand).
The total market capitalization was set at MNT one trillion 386 billion 759 million 693 thousand and 657. The Index of Top-20 JSCs was 14,431.44, increasing 60.98 units or 0.42% against the previous day.

Nominees of MFF’s President Revealed
By B. Khuder
Ulaanbaatar, February 3 (MONTSAME) Prior to its 27th session to be held on February 27, the Mongolia’s Football Federation (MFF) has released a final list of nominees for the federation’s presidency.
The polling for selecting a new president of the MFF will run among A.Ganbaatar, an advisor on public relations policy to the President of Mongolia;
T.Lhagvadorj, chairman of the Board of Directors of the “Vulf Petroleum” company; and B.Medree, CEO of the Trade and Development Bank of Mongolia. Five people have been nominated for the position of vice president of the MFF as well.
New president and vice president of the MFF will be elected during the forthcoming session.

License issuance causes problems for the government
February 3 ( The issuance of exploration licenses, which was suspended for almost five to six years, resumed on January 26, which has lead to loud complaints, sensationalized stories, disputes, and claims.
The Ministry of Mining and the Head of the Mineral Resources Authority of Mongolia stated that the issuance of licenses would be transparent and clear, without any conflicts of interests, that it would use secure software with precise accuracy and high quality equipment. However, in the first three days, the system experienced errors and malfunction and which became a headache for the government.
The software program for license issuance was written in a secret environment by highly paid IT engineers. Frankly speaking, this was the correct procedure.
Recent practices show us that when information is provided mostly to powerful officials, we have to  resolve a so called  “battle of  wrestlers” at the gate of the Mineral Resources Authority. Applicants have been registering online with the help of technical engineers of the Mining Authority and the National Data Center, thus, applicants should consider that this a risk for the creation of indirect manipulation.
The Mineral Resources Authority keeps information about which company wrote the program highly confidential, along how much it cost them.      
So far, only three licenses have been issued, two of which were made with mistakes and one that became invalid.  The government should re-consider this issue and pay attention to it.
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