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
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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