Mongolian Economy and Finance

ULAN BATOR, Mongolia, May 14 (UPI) -- Japan's Mitsubishi Corp. and Chiyoda Corp. announced a 50 billion yen ($492.4 million) agreement to build an international airport in Mongolia.

An irregular meeting of the government was convened on Monday to discuss the “Project to Develop Soums,” which was developed by the Ministry of Economic Development, informed the Press, Media, and Public Communications Department of the Parliament.

Ulaanbaatar - Members of the MCC Board of Directors, Lorne W. Craner and Morton H. Halperin, from Washington DC visited MCA-Mongolia project implementation sites on April 26, 2013, while their stay in UB to attend annual Community of Democracies Ministerial being held between April 27 and April 29, 2013.

The first two civilian cooperation projects between NATO and Mongolia within the framework of the Science for Peace and Security (SPS) Programme were launched on February 28 in Ulaanbaatar.

September 28 – Projects Cargo Network (PCN) has welcomed V. Alexander International Logistics (VAIL) as a network member representing Germany and Mongolia. VAIL projects director Jurgen Weyhausen commented: “We believe that Mongolia is emerging as a key commodity supplier in Asia.” He said forecasts predicting that the country would become one of the world’s fastest-growing marketplaces over the next two decades had prompted the company to open an office in Mongolia. Established in 2006, the Bremen, Germany headquartered company handles “everything from crane equipment and submarines to complete industrial plants in the field of project forwarding” for a global list of clients, Weyhausen added. www.projectscargonetwork www.valexander-bremen.de

Ulaanbaatar, Mongolia, August 22 (Millenium Challenge Account – Mongolia) — Severe winter air pollution in Ulaanbaatar, the capital of Mongolia, has become a major concern for the city's 1.3 million residents, which is nearly half the country's population.

Ulaanbaatar, Mongolia /MONTSAME/ A closing measure of the "Land management and financial cadastre" project was held on Friday.

Ulaanbaatar, Mongolia /MONTSAME/ A two-times increase will be observed in both families' incomes and a poverty rate, as the "Rural development" national program says.

Ulaanbaatar, Mongolia /MONTSAME/ An agreement has been reached on implementing a programme on supporting governance and decentralization.

Ulaanbaatar, Mongolia /MONTSAME/ The administration of the city's Songinokhairkhan district has hosted a training on strengthening a public participation in improvement of medical assistance for the disabled.

Regional cooperation and integration is a high priority for Asian Development Bank (ADB), and the strategy for Mongolia includes assistance for stable broad-based economic growth by diversifying the sources and geographical distribution of growth, and stabilizing export earnings.

The Asia Foundation has launched a new environment program called “Engaging Stakeholders for Environmental Conservation” (ESEC).

Ulaanbaatar, Mongolia /MONTSAME/ Mayor's office of Ulaanbaatar and Millennium Challenge Account Mongolia signed on Friday a memorandum of understanding on cooperation.

The Asia Foundation in Mongolia today launched a new environment program called “Engaging Stakeholders for Environmental Conservation” (ESEC) . This three-year program will engage stakeholders and citizens to directly address the development of Mongolia’s mineral sector and key challenges the country is facing in protecting its natural resources from the adverse effects of industrialization and climate change.

The Nature Conservancy has launched a new conservation initiative to protect the globally significant grasslands of the Eastern Steppe of Mongolia. The Conservancy will share its conservation and scientific expertise to help the government of Mongolia balance conservation and economic needs. “This program will help Mongolia to set a new standard for sustainable development,” said Ms. Stephanie Meeks, acting president and CEO of The Nature Conservancy. “This unique effort will encompass policy initiatives with on-the-ground conservation techniques to protect more than 69 million acres of grasslands in Eastern Mongolia.”

Priority 4 IT Training and Production Hub Project – IT production for the domestic and foreign markets, hub of outsourcing for the domestic and foreign markets, training IT workers and HR.

Priority 3 Tavan Tolgoi Power Plant Project – production capacity of 400.0 megawatt electricity will be connected to the central electricity line. The plant will use less water with air cooler.

Priority 2 “Healthy food” Project – to treat animal, improve meat and milk production – to produce 50 thousand tons of meat and 20 thousand liters of milk from intensified farms. To establish dairy farm with cows of 8000 head at minimum.

Priority 1 Oyu Tolgoi Project – Copper Smelting Factory to smelt 100,000 tons of ore per day or 35 million tons of ore each year. Further to increase up to 150 thousand tons per day or 56 million tons per year

Ulaanbaatar, Mongolia, /MONTSAME/ A memorandum of understanding (MOU) was signed between the Ministry of Road, Transportation, Construction and Urban Development of Mongolia (MRTCUD) and a transport project of the Millennium Challenge Account-Mongolia (MCA) October 7. As expected, state organization's participation will improve in this project's realization and interrelations will refine thanks to the treaty.