President Runs Meetings during UNGA
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) The leader of Mongolia Ts.Elbegdorj held several bilateral meetings in New York city on September 23.
The Japanese Prime Minister Shinzo Abe, for example, said Japan is ready to promptly signi with Mongolia the Agreement on economic partnership in order to boost an industrialization in Mongolia. In response, the President congratulated Mr Abe on his 60th birthday and quoted the Mongolia proverb "the 60 years bring a new energy".
The Japanese PM thanked for the handwritten letter sent by the President, after which the two dignitaries shared opinions on issues of their interests and of regional relations.
At the meeting with Belarusian PM Mikhail Myasnikovich the President said the relations between the two countries have intensified after an opening of the Embassy of Belarus in Ulaanbaatar. To this the PM expressed a willingness to cooperate with Mongolia in transit transportation, to launch export loan program for improving mining technologies, to cooperate in agriculture, especially in poultry farming and fertilizer production.
The leader of Mongolia also met with Albert the Prince of Monaco and with Hasan Rohani, the President of Iran, to discuss bilateral relations and other matters as well, during the 69th meeting of the UN General Assembly.
Our Woman Shooter Grabs "Gold" at Asian Games
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) At the 50meters horizontal shooting with 60 bullets category, held Wednesday in Incheon, international sports master Mongolian Ch.Narantuya won the gold medal scoring 624.1 points and setting a new record for Mongolians.
Thanks to it, a number of Mongolia's gold medals has reached four so far. In overall, our shooting team has been the fifth among 13 competed in this category.
Turquoise Hill Provides Update on Oyu Tolgoi Tax Ruling
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) Turquoise Hill Resources announced September 22 that it completed a detailed review of the tax ruling of the Tax Dispute Resolution Council of the Mongolian General Taxation Department issued September 10 of 2014.
The ruling has reduced the amount of tax, interest and penalties claimed to be payable by Oyu Tolgoi LLC, from approximately USD $127 million to approximately USD $30 million.
While this significant reduction is welcome, there are aspects of the ruling that require further clarification. Oyu Tolgoi LLC will continue to work with the Mongolian Tax Authority to obtain further clarity on some of the findings in the ruling.
Turquoise Hill, Rio Tinto and the Government of Mongolia continue to engage in order to resolve outstanding shareholder issues, reported Turquoise Hill Resources Ltd.
Bank expansion strategies for the new banking market
By L. Byambaa
September 24 (Mongolian Economy) What is today’s banking market?
Mongolia’s current banking sector has been fundamentally cemented to the point where it now plays the main role in the financial sector. Banks currently supply the majority of private sector, business, and citizen demand. The amount of the sector’s active assets has increased regularly over the past decade, last year reaching 119 percent of Mongolia’s GDP—near equivalent to the international average.
Year-to-year loan amounts have been on the rise in general, despite a temporary decrease in 2009 after the financial crisis. According to statistics by the Bank of Mongolia, loan growth has been around 40 percent a year since 2004. As of the first half of this year, the total loan amount has reached MNT 12.4 trillion.
Yet the statistics also show Mongolia’s banking sector to be fast approaching market saturation, in terms of the aforementioned indicators, the number of banks per citizen, and the number of bank clients and card holders.
Clearly there are too many banks in such a small market. Over the past years, four banks have dominated, comprising 77 percent of total market share as of 2013. An analysis of this issue reveals that the individual banks are differentiated only in terms of their access to corporations or citizens. But in terms of their strategic play and position in the market, there is little difference between each bank.
The saturation of any business sector means that its growth percentage is reduced, expansion is insubstantial, and potential organic growth is slight. For the banking sector, it is doubtful that its loan issuance percentage can maintain 40 percent growth. As a result of the sector’s current focus and outdated loan requirements, new borrowers are unlikely to be created.
Given the condition of loan saturation and lessened growth, banks’ must rely on a more competitive strategy. If a bank could determine the appropriate strategy and take advantage of market opportunities, it would enjoy a greater likelihood of continuing its growth successfully into the future.
What strategy do banks need to use?
As the market becomes saturated, banks need to come up with an answer on how to expand their business. On the one hand, expansion can be achieved by increasing a conventional product, service, or service customers. But expansion can be similarly achieved by introducing a new product or business line to the market.
To increase the conventional product and service customers, and expand the market and partners’ circles, banks will have to reach out to companies that were unable to receive loans in the past, or they will have to increase the credit ability of their existing clients. Expansion aimed at increasing credit ability can include mitigation of risk, formation of financial history and deposit, improvement of governance, and so on.
The banking sector might be seen as privileged—without competition in the financial sector—but in reality, this not the case. Most companies have a rational financial structure, and reduce their financial risks by having funds from two sources: loan and investment. Companies would find it hard to expand or run their operations cost-effectively by using only loan sources. If a company can attract increased investment, then its potential to receive loans can be increased to the same extent.
At this moment, most businesses in Mongolia are subject to bank loans. The main constraint of continuously receiving loans is in the insufficiency of their deposit assets—a company’s assets that are deposited in a bank when receiving a loan—and of their own assets. For citizens, loans for consumption, apartment purchasing, or small businesses comprise the majority of loans that are issued. In the future, property deposit registration and citizen loan history are expected to play larger roles in increasing the opportunity to receive a loan.
Banks also must adopt a new strategy to introduce new products and services. In addition to loans, many businesses need opportunities such as direct investment, bonds, leasing, and short-term financing, to name a few. In order to expand a bank’s market volume, a new type of service such as office leasing has to be actively sought out to supply their clients’ financial demand. The corporate bond market likewise should be developed in the future. This includes the introduction of products and services other than loans. For example, Mongolia’s commercial banks have already expanded into selling insurance products throughout the sector.
To introduce a new business line, there are a number prospects, including evolving into a custodian bank or investment bank, investment consulting services, underwriting, and so on. A legal setting for the formation of such institutions is already established in Mongolia. Banks additionally have the opportunity to specialise in areas such as mining, infrastructure finance, construction, agriculture, and trade.
The market demand has developed rapidly in Mongolia to the point where there are signs that the banking sector is approaching market saturation. To survive among the competition and to continue to expand business into the future, Mongolia’s banks must face the necessity of formulating and applying new strategies.
By D. Bekhbayar
September 24 (Mongolian Economy) Should the current government, headed by N. Altankhuyag, resign? Mongolia’s current situation clearly reveals its main economic indicators have dropped, a number of businesses have shut down, and the number of unemployed is on the rise. Citizens are fast running out of cash. The currency rate against the USD exceeds MNT 1,800 and foreign trade has dropped by more than 70 percent this year.
For foreign investors, the market is risky. The debt chain has increased and debt management issues are apparent. Even the construction sector, a leading industry for Mongolia last year, is in sharp decline. Ongoing construction projects are rarely found, as there are just a few potential apartment buyers in Ulaanbaatar and materials are expensive.
In other countries, if the economy had deteriorated like Mongolia’s, government officials would have already handed in their resignation. We have seen in media reports, many times, that government officials around the world are forced to resign.
According to other nations’ experiences, if the government’s decisions leads to such a negative impact on citizens’ lives, then citizens may demonstrate against their government and protest until its resignation.
But in Mongolia, the situation is different. Its government is acting like it is innocent and did not make any mistakes. Government officials explain that the current difficulties are due to a global economic crisis, but is that the case?
People often say current economic difficulties are not due to external factors, but are due to internal issues such as conflicts between political parties and factions among the ruling party; desperate fights for better positions; money and power; useless policy putting the parties’ interests before the country’s; corruption; red-tape; and a lack of education and experience.
In June this year, the International Monetary Fund’s (IMF) deputy managing director Naoyuki Shinohara and other officials visited Mongolia to meet officials and advised them to revisit their economic policy. The visiting officials recommended tighter expansionary monetary and budget policies in order to overcome short-term economic difficulties.
According to Mongolians who work at the IMF and World Bank in Washington, DC, Mongolia is fast headed toward becoming the next Argentina – renowned for flirting with economic default. A new economic policy and responsible government is necessary to prevent this looming crisis.
There are two options:
To continue until the end of next year with the current government, or to see the resignation of the government.
What would it be like to spend another two years with the current government? Confidence could possibly be restored if it confesses its setbacks and mistakes to the extent that it is reflected in further policy.
Prime Minister Altankhuyag needs to learn responsibility, as does his party – the Democratic Party of Mongolia (DP). We can see from today’s situation, the government seems quite unsure of its ability to restore voter confidence. R. Amarjargal, member of parliament and member of the DP, doubts if his Government can do just that.
In an interview he said, “Political leaders should stand in the front with the shield to establish a government with mainly non-party representatives and preferably professional requirements. And this government should be the one to save the national economy by lifting up the economy, to revive it and to create the right way to do this.’’
Former Vice Minister of Finance G. Chuluunkhutagt, however, said that the best way to get over this economic difficulty is through political agreements between the two parties.
We have the common ground, time, and opportunity to get rid of economic difficulties and lead the economy in the right direction for the short term, but if we can get a new government that works responsibly with experienced and knowledgeable professionals, and that is inclusive of non-party members as well, then stable long-term agreements may be reached.
The main role of a new government would be to revive the economy, to set policy in the right way, to define a development strategy, and to create system that subsequent governments comply with. However, every time a new government wins an election, they reject the concerns and past doings of previous governments because Mongolia doesn’t have a sustainable strategic policy.
Mongolians care about the leaders of the future. The two major parties—the DP and the MPP—say their policies are divided into right and left wings; interviewed experts on a recent television show, however, say that the parties have almost no difference.
It’s hard to differentiate between each party’s policy and what they stand for. Common to each party is their need to hold power and get rich through public money and authority, by lying to their people. How can Mongolia really develop if this is the development policy we’re stuck with?
Hospitable Ulaanbaatar campaign given the go ahead
September 24 (Mongolian Economy) The ‘Hospitable Ulaanbaatar’ campaign was given the final tick of approval yesterday by the City Council. The campaign, specific to the city, aims to attract two million tourists by 2020 and five million by 2030.
Currently, Mongolia hosts no more than 500,000 tourists every year.
This year’s budget for tourism is MNT 35 billion, well above what it was in 2012 when only MNT one billion was spent. The state budgeted MNT 35 billion for the development of tourism and culture sector every year from now on.
This plan is based on the general development plan of Ulaanbaatar. In addition to increases in tourist numbers, the campaign – which will be conducted in three phases –aims to increase tourism’s contribution to the overall economy of city by 20 percent and create 35,000 new jobs.
Ulaanbaatar city is planning to have the metro network ready by 2020, to compete for the right to organise the 2030 Asian Games. Tourism sector development is no doubt necessary to achieve these ambitions.
Day 4: Mongolian National Judo Team Finishes 2014 Incheon Asian Games with 3 Gold, 3 Silver and 4 Bronze Medals
September 24 (infomongolia.com) Yesterday we reported that the final Judo Team competitions in the Men’s and Women’s categories would be held on the DAY 4 of the 2014 Incheon Asian Games or on September 23, 2014.
So, Mongolian National Judo Men’s Team defeated over the Turkmenistan Team by 5:0 in the first round and qualified for Silver medal contest, but lost to the Team of South Korea by 0:5. Thereafter, had to match against the Team of Japan for Bronze medal contest, where the Japanese Men’s Team was defeated to the Team of Uzbekistan by 2:3 and won over Saudi Arabian Men’s Team by 5:0. Consequently, for the third place competition Mongolian Men’s Team lost to Japan by 2:3 and stood in the fourth place. In the Judo Men’s Team tournament, South Korea took the first place, Silver went to Kazakhstan and the Bronze medal to the Teams of Japan and Uzbekistan.
In the Women’s Team competitions, Mongolian female judokas won over Thailand by 4:1 in the first round, but lost to host nation judokas by 2:3 and in the Bronze medal contest, Mongolian Women’s Team was defeated to the Team of China by 2:3 and also stood in the fourth place. The Women’s Team tournament was led by the Team of Japan, where Silver medal went to South Korea and the third place was shared by the Teams of China and North Korea.
However, Mongolian National Judo Team could not win a medal in the Team competitions, but stands in the third place in the Judo event winning a total of 3 Gold, 3 Silver and 4 Bronze medals after Japan (6+4+5) and South Korea (5+2+8).
Final results for Mongolian National Judo Team in the 2014 Incheon Asian Games finished on September 23, 2014:
N.Tuvshinbayar, Men’s -100 kg, Olympics Gold and Silver medalist, Hero of Labor, Merit Athlete of Mongolia
D.Tumurkhuleg, Men’s 66 kg, World Judo Junior two-time Silver medalist
M.Urantsetseg, Women’s 48 kg, World Judo Champion, Merit Athlete
G.Boldbaatar, Men’s 60 kg, World Judo Champion
U.Duurenbayar, Men’s +100 kg, IMS
G.Odbayar, Men’s 73 kg, IMS
L.Otgonbayar, Men’s 90 kg, IMS
N.Dagvasuren, Men’s 81 kg, IMS
D.Sumiya, Women’s 57 kg, IMS
Ts.Naranjargal, Women’s 70 kg, IMS
Mongolia National Team has been participating in the Asian Games since 1974 and only one time did not participate in the X Asian Games held in Seoul, South Korea in 1986.
In the 1982 Asian Games took place in New Delhi, India, Mongolian National Team grabbed a total of 3 Gold medals by B.Bold, Men’s 68kg and Z.Duvchin, Men’s 82kg in the Freestyle wrestling and Men’s Shooting Team 50m Rifle, in addition 3 Silver and 1 Bronze in other events, which was a record in Mongolian sports history up to date and after 32 years, only Judo Team repeated the success of this historic record.
The 2014 Asian Games - Day 5: Mongolian Female Shooter Ch.Narantuya Brings 4th Gold Medal to Its National Team
September 24 (infomongolia.com) The XVII Asian Games are ongoing on its Fifth Day as of September 24, 2014 and today Mongolian female shooter Chuluunbadrakh NARANTUYA has grabbed a Gold medal in the Women's 50m Rifle Prone Individual.
This is the fourth Gold medal achieved by Mongolian National Team so far and the second Gold in Mongolia’s Shooting history at the Asian Games and in the Women's 50m Rifle Prone competition, IMS Ch.Narantuya has collected a total of 624.1 points that breaks Mongolia’s national record as well. In this category, Mohamed Taibi from Malaysia with total points of 620.6 stood in the second place and South Korean shooter Eum Bitna won a Bronze medal with same 620.6 pts.
As of other Mongolian female shooters, IMS G.Nandinzaya with 611 pts finished at the 28th place and IMS O.Yanjinlkham, 607.8 pts, at the 39th place respectively, where a total of 13 teams have competed and currently, Mongolian National Shooting Team stands at the 5th place.
The record of medals achieved by Mongolian National Shooting Team from Asian Games in 1974-2014
- Men’s 50m Rifle Prone Team (M.Jantsankhorloo, S.Enkhjargal, S.Adilbish and G.Ganzorig) held in New Delhi, India in 1982
- Women's 50m Rifle Prone Individual, Ch.Narantuya, 2014 Incheon Asian Games, South Korea
- G.Ganzorig, Men’s 50m Rifle Prone Individual, 1982 New Delhi Asian Games, India
- D.Munkhbayar, Men’s 10m Air Pistol Individual, 1994 Hiroshima Asian Games, Japan
- Women’s 25m Pistol Team (O.Gundegmaa, Ts.Munkhzul and T.Bayartsetseg), 2010 Guangzhou Asian Games, China
- T.Myagmarjav, Men’s 25m Rifle Individual, 1974 Tehran Asian Games, Iran
- Women’s 25m Pistol Team (O.Gundegmaa, D.Munkhbayar and D.Oyun), 1998 Bangkok Asian Games, Thailand
- O.Gundegmaa, Women’s 25m Pistol Individual, 2002 Busan Asian Games, South Korea
- Women’s 25m Pistol Team (O.Gundegmaa, Ts.Munkhzul and G.Kherlenchimeg), 2006 Doha Asian Games, Qatar
- Women's 10m Air Pistol Team (O.Gundegmaa, Ts.Munkhzul and T.Bayartsetseg), 2014 Incheon Asian Games, South Korea
- O.Gundegmaa, Women’s 25m Pistol Individual, 2014 Incheon Asian Games, South Korea
By bringing this 4th Gold medal to its National Team, Mongolia (4+3+6) is ranked at the 5th place after China (42+24+20), South Korea (21+21+22), Japan (16+22+23) and Kazakhstan (4+5+11) as of September 24, 2014.
First Mongolia-Australia consultative meeting held
September 24 (news.mn) A consultative meeting between the Foreign Affairs Ministries of Mongolia and Australia was held in Ulaanbaatar, on September 23rd.
The first consultative meeting of Foreign Affairs Ministries was chaired by the Director of the Department of Policy Planning and Research of the Mongolian Ministry of Foreign Affairs, Ts.Batbayar, and Australian First Assistant Secretary of the Department of Foreign Affairs and Trade of Australia Peter Rowe.
In the meeting the parties exchanged information on foreign affairs policy and had talks on bilateral relations, with a focus on extraction programs, the working holiday visa category, Mongolia’s involvement in Australia’s New Colombo Plan by 2015, and support for cooperation in peace keeping, mining and investment.
The parties also exchanged views on international and regional issues, agreed to support each other in the scope of multilateral cooperation, maintain the frequency of consultative meetings of the Foreign Affairs Ministries, and to hold the next consultative meeting in Australia in 2015.
Peter Rowe and other Australian officials meet Mining Minister D.Gankhuyag, Foreign Affairs Minister L.Bold and Economic Development Minister N.Batbayar.
Two Countries Run First Consultative Meeting – Montsame, September 24
President of Mongolia Delivers Speech at UN Climate Change Summit 2014
September 24 (infomongolia.com) The 69th session of the United Nations General Assembly (UNGA) is ongoing in New York and as part of session program, the UN Climate Summit 2014 commenced on September 23rd, which brought together more than 120 heads of state and government including President of Mongolia Ts.Elbegdorj and Foreign Minister L.Bold.
Next year marks the 70th Anniversary of the founding of the UN and this was the specificity of this year’s session.
In his speech at the UN Climate Change Summit, President Ts.Elbegdorj emphasized, “No one country is immune to climate change. Even my country - Mongolia, which has an extraordinarily friendly livelihood and tradition to live in harmony with nature - is suffering a lot because of climate change.
The climate change issue is no longer a science fiction. It is no longer a science debate.
The climate change has become a real life issue. If you still have doubts whether climate change is happening or not - come to Mongolia.
Ask herdsmen "is climate change happening?" Our herdsmen will give you a true answer. They already told me "It is happening, and happening for real".
One expert on climate change said that if global warming exceeds 2 degrees Celsius, the disaster that may have happened once in a million year might happen every year.
The climate change is created by us, by me, by you. Are we going to leave our children, grandchildren to the hands of this monster? No.
Let us act together".
Moreover, along with the heads of state and government from over 120 countries, the environmental activists, Hollywood stars and the UN messengers delivered their speech at Climate Change Summit. For instance, the former Vice President of the United States, Nobel Peace Prize winner Albert Gore noted in his speech: “Political leadership is the best way to fight against climate change” and the UN Messenger of Peace Leonardo DiCaprio said: “It is time for us to act”.
Also, President Ts.Elbegdorj attended the Clinton Global Initiative forum and the round-table on climate change at the Columbia University.
President Gives Speech at UN Climate Change Summit – Montsame, September 24
Our FM Meets Reps of Int’l Organizations
By B. Khuder
Ulaanbaatar, September 24 (MONTSAME) Taking part in the 69th session of the UN General Assembly in New York, Mongolia’s Minister of Foreign Affairs L.Bold Tuesday met with leaders and high officials of some international organizations.
For example, he met Mr Herve Ladsous, a head of the UN Department of Peacekeeping Operations and UN Under-Secretary-General. The latter thanked Mongolia for deploying to UN missions its peacekeepers "who have become a good example for their counterparts from other countries". They also touched upon a present situation around the UN peacekeeping operations.
Mr Ladsous said he plans to visit Mongolia. The same day, he awarded the Minister the UNMISS medal for his contribution to the peacekeeping operations in South Sudan.
His next meeting ran with Mr Hugo Hans Siblesz, the General Secretary of Permanent Court of Arbitration (PCA), and with Ms Tiina Intelmann, a president of the Assembly of States Parties to the Rome Statute of the International Criminal Court (ICC). "Mongolia intends to join the Kampala amendments on the crime of aggression which is included in the Rome Statute of the International Criminal Court," he said.
In response, they expressed a satisfaction with an active participation of Mongolia in the Kampala amendments and underlined an importance of providing opportunities to solve crimes of aggression under the ICC.
After this, our FM met with the secretary-general of the International Institute for Democracy and Electoral Assistance (IDEA) Mr Yves Leterme. The latter said the IDEA plans to consider an issue of proper exploitation of minerals during the 2014 annual forum on democracy, and congratulated Mongolia for chairing the IDEA Democracy Forum in 2016.
President Chairs "Climate Change–Science" Discussion of UNEP
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) Mongolian President Ts.Elbegdorj chaired on September 23 a "Climate Change–Science" themed discussion in frames of the UN Environmental Assembly, initiated by the Secretary-General Ban Ki-moon.
The UN Environmental Assembly has been held under purposes of intensifying the measures taken for climate change, in particular to urge the initiative of reducing the greenhouse gas and to reach an agreement by 2015 on containing the global warming within less than two degrees. It has gathered heads of states and representatives of finance, business, civil societies and private sectors of the UN member-countries.
At the “Climate Change–Science” discussion, chaired by our President, the main lectors were a director of International Union for Conservation of Nature Julia Marton-Lefuvre and a chairman of working group for Intergovernmental Panel on Climate Change Thomas Stoker.
Intergovernmental Meeting between Mongolia and Belarus Ends Successfully
September 24 (infomongolia.com) The Second Intergovernmental Meeting on Trade, Economy, Science and Technical Cooperation between Mongolia and the Republic of Belarus was successfully organized in Minsk on September 23, 2014.
Mongolian Government was chaired by Deputy Minister of Construction and Urban Development G.Baigalmaa and the Belarusian part was led by Deputy Minister of Industry A.S.Ogorodnikov.
During the meeting, the sides agreed on stimulating bilateral cooperation in the fields of trade, transportation, customs, industry, agriculture, urban development, education and science. In particular, issues were touched upon the elimination of difficulties Mongolia faces in transit transportation through the territory of Belarus, the promotion of business contacts between the private sectors, and the study of possibilities for founding a joint venture.
On September 22, Mongolian delegates were introduced with activities of leading Belarusian companies such as Maz, MTZ, Belaz and other facilities to exchange views on partnership and cooperation development.
Mongolia and Belarus to Broaden Cooperation in Some Sectors – Montsame, September 24
FM Meets His Counterparts
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) The Minister of Foreign Affairs of Mongolia L.Bold ran meetings with his counterparts on September 23 while taking part in the 69th General Assembly of the UN in New-York.
To the colleague from Principality of Lichtenstein he told that Mongolia is interested in cooperating several spheres and in preparing our national cadres.
United Arab Emirates' FM proposed increasing a trade turnover and launching consultative meeting between two Ministries of foreign affairs.
To the Albanian counterpart he said that, if Speaker and FM of Albania visit Mongolia on the occasion of the 45th anniversary of the diplomatic relations, it will significantly expand our bilateral ties in political and economic spheres.
The FM of Republic of Iceland Gunnar Bragi Sveinsson promised to support Mongolia in seeking a membership in the Arctic Council and said the Mongolian-Iceland relations should be expanded in spheres of education and environment protection, and that the 40th anniversary of the diplomatic relations must be celebrated solemnly.
Premier Attends Seminar of Province Governors
By B. Khuder
Ulaanbaatar, September 24 (MONTSAME) The Prime Minister N.Altankhuyag addressed a methodological seminar started Wednesday on ensuring transparency, participation and responsibility of localities' governance.
This seminar is held in frames of the “Empowering the local self-governance bodies”, co-implemented by the Parliament Office and the Cabinet Secretariat for Government, with a participation of governors of aimags, heads of the local administrations and heads of the Citizens’ Representative Khurals.
Thanks to the prices stabilization program, the consumer goods prices have been stable, fuel prices in Uvs aimag dropped by 80 Togrog, the Premier noted. Other provinces can also minimize the consumer goods prices if the management is proper, he added.
It is vital to initiate and then implement various programmes that will improve people’s livelihood, the gathered said, "for example, Tov aimag could reduce wood prices". They also added that the aimags have gained some achievements in abolishing bureaucracy in state services and in running automatic machines of state services.
The Premier appreciated big works some localities have done in the construction, especially in roads sector, and obliged them to continue works actively and fruitfully.
Mongolia and China Host Its Regular Consular Meeting in Beijing
September 24 (infomongolia.com) The XVI Consular Meeting between the Foreign Ministries of Mongolia and the People’s Republic of China was in Beijing on September 23, 2014.
Co-chaired by Director of the Consular Department of the Ministry of Foreign Affairs of Mongolia, Mr. Sh.Sukhbaatar and Mr. Huang Ping, Director-General of the Department of Consular Affairs of the Ministry of Foreign Affairs of the PR of China, the meeting was conducted in a warm atmosphere, where parties reviewed the realization of consular relations agreements established between the two states and focused on issues pertaining to the protection of legal rights of citizens and entities, citizens’ reciprocal travel conditions and the consular representatives.
Mongolian delegates were represented by officials from the Foreign Ministry, Justice Ministry, Immigration Office, National Police Department, Marshal (Takhar) Authority as well as representatives from General Consulates of Mongolia to China’s Hohhot and Hong Kong SAR, Consulates of Mongolia to Erenhot, Hulunbuir and Shanghai.
During the meeting proposals requested from Mongolian side were warmly accepted, for instances, to resolve immediately on allocating a replacement of a lost or stolen national passport in Erenhot city and in the scope of effectiveness of the Agreement on Transfer of Prisoners between Mongolia and the PR of China, some nationals to continue serving their sentences in prison in Mongolia. Also, to alleviate some number of taxes collected at the border ports.
Moreover, Mongolian delegates were received by Assistant Foreign Minister of the PR of China, Mr. Liu Jianchao.
Mongolia has been co-organizing an annual Consular Meeting with Kazakhstan, Republic of Korea, Russia, and Turkey.
Mongolia-China Consultative Meeting Runs – Montsame, September 24
Ulaanbaatar Wants to Receive Five Million Tourists by 2030
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) The Citizens Representative Khural of Ulaanbaatar adopted a “Friendly Ulaanbaatar” program on its 19th meeting on September 22.
The meeting discussed the general development plan until 2020 and set goals to increase a number of tourists to two million per year, a share of the tourism in the capital city economy--to 20 percent, hospitality service personnel--to 35 thousand people by 2020. This way the number of tourists will reach five million by 2030, as estimated.
Many works will be realized to improve economic benefits of tourism, actualize policy enforcement for promoting businesses, provide tourists with safe and convenient environment, offer new products and services, advertize Ulaanbaatar as the city a major tourist attraction, reflect friendly attitudes to all kinds of services.
The Khural also decided that five percent of the city's annual budget will be dedicated to this program.
Mongolian Basketball Team Beats Jordan
By B. Khuder
Ulaanbaatar, September 24 (MONTSAME) At the 17th Asian Games in S.Korean Incheon, Mongolia’s national basketball men team defeated the Jordanian in the “D” group of preliminary round on Tuesday.
After four rounds, the game finished the ratio of scores 83:74 with the win of Mongolia. By the schedule, the Mongolians will compete with the S.Koreans on Wednesday.
Our team has 12 players and a coach O.Bayartsogt.
“Wonderful Mongolian Culture” closing performance
September 24 (news.mn) The State National Song and Dance Academic Ensemble of Mongolia staged a program of performances for the tourist season called “Wonderful Mongolian Culture” throughout the summer for visitors from over 60 countries.
The performances for tourists included the ensemble’s best new concerts such as “Nomadic Melody” by music director D.Ganbold, “Ballad of the Wind” by music director N.Bold, the ballet “Legend of the Great Queens of Mongolia” by music director D.Bayarbaatar, and numerous other popular performances of folk long songs, the horse head fiddle, khoomii (throat singing), folk dancing and traditional musical instrument performances by over 150 artists.
The State National Song and Dance Academic Ensemble of Mongolia will stage a closing performance, which will be seen by a national and foreign audience of up to 15,000 at 6:00 p.m., on September 25th.
“Wonders of Mongolian Arts” Concert to Close – Montsame, September 24
Mongolian Children’s Choir Festival celebrates 22 years
September 24 (news.mn) The annual Mongolian Children’s Choir Festival, named after State Prize Winner and People’s Artist, composer D.Luvsansharav, will be organized this year on the occasion of the 375th anniversary of Ulaanbaatar.
The Governor of the Capital and Mayor of Ulaanbaatar, E.Bat-Uul, issued a resolution regarding preparations for the festival. The first phase of the festival will be held on October 8, 9, and 10, and the second phase will be held at the Mongolian Children’s Palace on October 17.
The winning groups will perform a ceremonial grand concert dedicated to the 375th anniversary of Ulaanbaatar on October 29th.
New Oyu Tolgoi feasibility study finalized
September 24 (news.mn) Turquoise Hill Resources has announced that the new feasibility study for the underground mine at Oyu Tolgoi was finalized. The underground expansion of the Oyu Tolgoi project has been held up due to a tax dispute between the Government of Mongolia and Rio Tinto Group, and also caused a delay in the finalization of the feasibility study.
Turquoise Hill Resources says that the underground expansion of Oyu Tolgoi is underway, as the feasibility study was finalized and shareholders of Oyu Tolgoi finally resolved the tax debate on September 10th.
Turquoise Hill Resources has sent the new feasibility study to the Board of Directors of Oyu Tolgoi. If the board approves the new feasibility study, it will be delivered to the Mongolian Minerals Resource Council for permit approval.
Turquoise Hill Resources believes that if the new feasibility study is approved, funding for the underground expansion of Oyu Tolgoi, required documents, and permits will be resolved.
The Tax Dispute Settlement Council of the General Department of National Taxation discussed the tax dispute between the Government of Mongolia and Rio Tinto. Mongolian shareholders announced that the Tax Dispute Settlement Council cut the tax claim to 30 million USD from around 130 million USD, and investors confirmed the announcement.
As the new feasibility study is finalized, project holders have to determine the overrun cost of the first phase of development at Oyu Tolgoi.
Turquoise Hill Resources also announced that they will fix current damage at Oyu Tolgoi. As the result of the damage, the mine is processing at only 60 percent capacity.
Reform Government to be restructured with only 11 ministries
September 24 (news.mn) An unconfirmed report about the restructuring of the reform government has raised numerous speculations among politicians and the public.
The only thing that remains clear is that the restructuring process will be made in the scope of the "From Big State to Smart State" policy initiative of President Ts.Elbegdorj.
Speculation is circulating around news that the Government has agreed to merge ministries with the same direction and role, and restructure a government with 11 ministries instead of 16.
According to an unconfirmed source, 10 ministries, including the Economic Development Ministry, Finance Ministry, Ministry of Roads,Construction and Urban Development, the Energy and Mining Ministry, Ministry of Population Development and Social Protection, Labor Ministry, Ministry of Education, and the Ministry of Science,Culture, Sport and Tourism, will be merged into 5.
But it is still unknown which ministers will remain in Prime Minister N.Altankhuyag’s Government .
The current so-called “Reform Government” runs with 16 ministries and 19 ministers.
The Democratic Party stresses that a government made up of 11 ministries is good enough.
Teachers’ Day in Mongolia to be celebrated on World Teachers’ Day
September 24 (news.mn) Teachers’ Day in Mongolia will be celebrated on October 5th, the same day as World Teachers’ Day, announced by the Education Department of Ulaanbaatar City Administration.
Teachers in Mongolia are going to celebrate the holiday for the 48th year, but this is the first time teachers will celebrate with teachers around the world on October 5th.
Plans for numerous celebration and events are underway for the upcoming Teachers’ Day in Mongolia.
Sport Festival 2014, held annually since 2011, for teachers in Ulaanbaatar general education schools will be organized in six categories this year.
Sport Festival 2014 will be held at the Wrestling Palace on September 27-28th.
Under an initiative from the Ulaanbaatar City Mayor, top teachers will be awarded bonuses under a program to evaluate teaching quality and performance based on a general education school and kindergarten index in Ulaanbaatar.
Vice-Speaker participates in int’l conference
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) The vice-chairman of the State Great Khural and chairman of the Mongolian People party (MPP) M.Enkhbold has participated in the international conference of Asian Political Parties which ran in Colombo of Sri Lanka on September 18-21.
The "Building an Asian Community" action gathered 77 ruling and opposition parties from 33 countries. The Vice-speaker gave a speech under a topic “Mongolia’s involvement in the regional integration of Asia” at the conference panel.
He also held bilateral meeting--with a vice-director of the Standing committee on foreign affairs of the Russian Federal Council and director of foreign relations committee of United Russia Party, with vice-minister of foreign affairs of Communist Party of China, with a director of defense committee of DPRK National Assembly, to discuss regional issues of mutual interests.
MPP leaders attending British Labour Party's gathering
By B. Khuder
Ulaanbaatar, September 24 (MONTSAME) A delegation of the Mongolian People’s Party (MPP) is participating in a conference of the Labour Party of the United Kingdom.
The delegation includes J.Monkhbat, the MPP secretary-general; S.Byambatsogt, a head of the MPP faction at parliament; and N.Nomtoibayar MP.
The British Labour Party’s conference is held in autumn every year and is participated by representatives of political party, trade unions, socialist associations and by foreign delegates as observers.
In frames of the conference, some 400 sub-meetings have run under specific directions such as politics, economy, youths and women’s affairs. All participants are allowed to give their voice on the matters.
The MPP leaders will be there until September 27.
Speaker receives S.Korean delegation
By N. Khaliun
Ulaanbaatar, September 24 (MONTSAME) Parliament Speaker Z.Enkhbold Monday received a delegation led by the head of the Global Electoral Organization and the National Electoral Committee of Republic of Korea Lee In-Bok.
Mr. Enkhbold said he is glad to meet with the delegation, invited by the General Election Commission of Mongolia (GEC), and thanked them for signing of the Memorandum of Cooperation with the GEC, also for the cooperation in training staff of the GEC to share experiences, for providing the GEC with 7,000 ballot boxes of three types in 2004 and with 62 laptops in 2012. "All this contributed to conducting fair elections and to strengthening of the democracy here," he added.
Mongolia has been successfully implementing a reform in electoral system, in 2011, parliament adopted law on automated voting system, on which were held parliamentary elections in 2012 and presidential elections in 2013, he said.
In turn, Mr Lee thanked the Speaker for the audience and said that from the GEC head he had learned about riots of 2008 against election results. “We are using high technology in elections, but in some places there is a half semi-automated voting system which makes electorate doubt," he added.
The Speaker replied, "We had the doubts after the parliamentary elections of 2008, and this resulted in the riots in which five people were killed and the people trust was lost. We established a working group responsible for the adoption of the law on automated voting system, it was accepted, and now the trust was restored."
Mr. Lee said the Mongolian reform in the electoral system is the nice example not only for South Korea, but also for many countries who develop the democracy.
GHMAF head visiting India
By B. Khuder
Ulaanbaatar, September 24 (MONTSAME) Head of the General Headquarters of Mongolian Armed Forces (GHMAF) Lieutenant-General Ts.Byambajav is paying an official visit to India by invitation of Lieutenant-General Dalbir Singh, a Commander of Ground Military Force of India.
Mr Byambajav and accompanying him delegates started the visit by laying wreaths to the Flame of the Immortal Soldier (Amar Jawan Jyoti). After this, he ran a meeting with Lieutenant-General Dalbir Singh. Mr Byambajav expressed a satisfaction with a current cooperation between the military headquarters, and said Mongolia wants to expand the collaboration in new directions.
The Indian side supported these proposals and promised to take all possible measures for widening the bilateral cooperation.
Within the visit, Ts.Byambajav also exchanged views on the bilateral ties with Sri R.K.Matur, the Secretary of the Indian Ministry of Defense. They considered as necessity to continue the cooperation in specific directions.
Stock exchange news for September 24
By B. Khuder
Ulaanbaatar, September 24 (MONTSAME) At the Stock Exchange trades on Wednesday, a total of 4,628 shares of 18 JSCs were traded costing MNT seven million 995 thousand and 850.00.
"Genco tour bureau” /1,074 units/, “Hermes center” /1,000 units/, “Merex” /1,000/, “Tavantolgoi” /855 units/ and "APU” /284 units/ were the most actively traded in terms of trading volume, in terms of trading value were "Tavantolgoi” (MNT four million 437 thousand and 095), "APU” (MNT one million 050 thousand and 800), “Gobi” (MNT 970 thousand and 600), "Mongol keramik” (MNT 504 thousand) and "Baganuur” (MNT420 thousand).
The total market capitalization was set at MNT one trillion 593 billion 148 million 789 thousand and 643. The Index of Top-20 JSCs was 15,857.24, decreasing 40.53 units or 0.25% against the previous day.
Tournament of 9,999 chess players concluded
By B. Amarsaikhan
Ulaanbaatar, September 24 (MONTSAME) A three-day tournament called “Mongolian Teenage Chess Players–9999” completed on Tuesday in Zavkhan aimag. The tournament gathered 1,100 players, the greatest number in history of the locality tournaments.
The finals ran in the central stadium of Uliastai city of the aimag in five age categories in “Swiss System”. Present were Minister of labor Ya.Sanjmyatav, FIDE (World Chess Federation) president Kirsan Ilyumzhinov and others.
The first 100 children were awarded rights to travel abroad, other 100—with holiday tickets to the “Nairamdal” International Children’s Camp, and the third 100–with tickets to the local camp “Dayan-Ochir”.
The initiator of the tournament Ya.Sanjmyatav said it has been six years since his “three”-pillar policy launched, and that 666 children were granted computers, 999 Morinkhuur (horse-head fiddle) players performed at the Chingis Square, Naadam Complex and at the front of Otgontenger Mountain. This tournament was the third action, he added.
FIDE president K.Ilyumzhinov said he works with 181 member countries every year, but yet has not seen such wonderful event as the one in Zavkhan aimag. The local players have brought pride in themselves not only in the country, but also on international level, he stressed.