160502 mining industry self regulation
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The document discusses issues facing the mining industry in Mongolia including a lack of regulation, problems with public-private partnerships, and the need to improve professional education and social responsibility. It proposes establishing self-regulation through an undergraduate program, a professional institute, a professional society, and recognition of life-long learning to develop a self-regulated industry with participatory development.
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The document summarizes proposed revisions to three Mongolian laws:
1) The draft revised law on state registration aims to improve transparency while protecting personal privacy. It allows for electronic access and sharing of property information between registration and cadastral databases.
2) The draft revised law on registration of property rights integrates land and property registration and allows professionals to assist with applications. It provides more detailed first-time registration procedures.
3) The draft revised law on public service defines public service and government organizations. It establishes public oversight of government performance and requires customer satisfaction surveys.
Proposed Amendments to the Banking Law and the Law on the Central Bank
Proposed Amendments to the Banking Law and the Law on the Central BankThe Business Council of Mongolia
The document summarizes proposed amendments to Mongolia's Banking Law and Law on the Central Bank. Key proposed changes to the Banking Law include improving governance requirements for banks, introducing early intervention measures, improving bank resolution processes, and shifting supervision from compliance-based to risk-based. Proposed changes to the Law on the Central Bank include clarifying the Bank's powers and functions, and promoting its operational independence. The amendments aim to ensure financial stability and reduce bank risks in line with international standards.2ND ANNUAL BCM SUMMIT NOTES
The 2nd Annual BCM Summit focused on regional connectivity in Asia. Over 250 individuals attended, including Chairman B. Byambasaikhan and Prime Minister J. Erdenebat. Panel discussions covered topics like regional economic integration, infrastructure needs, and ESG performance. Speakers emphasized that regional integration is important for Mongolia's development as an 80% landlocked country. Governments can support by promoting information sharing, building infrastructure, streamlining processes, and creating favorable trade policies. The China-Mongolia-Russia economic corridor was highlighted as a key initiative, with 32 projects planned, including railways. Completing infrastructure links was seen as important for unlocking opportunities and reducing Mongolia's high logistics costs.
BCM 2nd Annual BCM Summit
The 2nd Annual BCM Summit focused on regional connectivity in Asia. Over 250 attendees heard from government and business leaders about opportunities for regional economic integration through infrastructure projects. Key points included Mongolia's aims to diversify its economy and improve transport infrastructure through initiatives like the Belt and Road Initiative and Russia-Mongolia-China Economic Corridor. Speakers discussed the need for political consensus, a favorable business environment, and creative financing mechanisms to realize over $26 trillion in infrastructure investment needs across Asia.
Presentation by Declan Magee, ADB Senior Country Economist for Mongolia: “Ove...
Presentation by Declan Magee, ADB Senior Country Economist for Mongolia: “Ove...The Business Council of Mongolia
Presentation by Declan Magee, ADB Senior Country Economist for Mongolia: “Overcoming Asia’s Infrastructure Needs” (report)Presentation by Shigeki (Sean) Miwa, Director, Executive Vice President, Soft...
Presentation by Shigeki (Sean) Miwa, Director, Executive Vice President, Soft...The Business Council of Mongolia
Presentation by Shigeki (Sean) Miwa, Director, Executive Vice President, SoftBank Group: “Northeast Asia Power System InterconnectionPresentation by Benoit Ribesse, CEO of Engie Mongolia, on “Future Summit Tren...
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Presentation by Benoit Ribesse, CEO of Engie Mongolia, on “Future Summit Trends: Environment, Social and Governance (ESG) performanceNew members, 15 May2017
Seven new members joined the organization in May 2017, including Airlink Mongolia, AGMARCO LLC, CRM, Glogex, HR Mind Solutions, Promotion Craft, and Mongol News LLC. Airlink Mongolia is a ticketing services provider established in 2001 with 5 branches and 62 employees. AGMARCO LLC is a wholesale food supplier operating since 2006 with nearly 20 employees and over 1,500 corporate customers. CRM LLC is a distributor of spirits and wine operating for over 14 years with a portfolio of over 20 premium brands.
Regional Economic Development
The document discusses the economic outlook for Asia and the Pacific region. It notes that near-term growth remains strong but faces significant downside risks from factors like tighter global financial conditions. In the medium-term, growth faces challenges from trends like population aging and slow productivity growth. The document recommends policies to reinforce growth, address risks, and boost productivity in order to deal with upcoming demographic changes.
BCM update on May Monthly Meeting
The monthly BCM meeting update provided information on:
1. A 3-day training on collaborative action against corruption that engaged 60 public and private representatives to identify corruption causes and stakeholders' roles.
2. Feedback received from policymakers on BCM members' concerns regarding tax increases and the investment banking draft law.
3. Upcoming events including the BCM Summit, Innovation Summit, and Malaysia-Mongolia investors forum.
Innovation: Case studies and how can we collaborate
This document discusses innovation and provides examples from ABN Amro bank in the Netherlands. It notes that ABN Amro has an innovation center that generates 100 new ideas per week through a process involving prototyping, testing, and customer feedback. The document also addresses challenges for large corporations in fostering innovation, noting they can be too slow, complex, and lack excitement, posing career risks. It includes quotes on the importance of failure for learning and innovation, and insanity of repeating mistakes without change.
Draft Law on Investment Banking, Presentation
The document summarizes a draft law on investment banking in Mongolia. The key points are:
- The law would allow foreign banks to operate in Mongolia without a full banking license by limiting their activities to corporate banking.
- Investment banks would be licensed and regulated to carry out specific banking activities related to financing large projects, such as long-term loans over $40 million.
- Investment banks would need a minimum capital of $200 million, and loans must be over $40 million, to be licensed by the Bank of Mongolia and Financial Regulatory Committee.
Introduction to the Draft Mining Law
The document provides an overview of the current mining legislation in Mongolia and summarizes the key aspects of a new Draft Mining Law. The current legislation includes several laws that regulate various aspects of mining but leave some issues unaddressed. The Draft Law aims to address these issues by regulating the full mining lifecycle, improving transparency, and harmonizing with other relevant laws. It introduces changes like additional licensing requirements, a classification system for mines, stricter closure processes, and allowing license area mergers. However, critics argue it has unclear drafting and duplication of other laws.
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160502 mining industry self regulation
- 1. INDUSTRY SELF-REGULATION May 2016 MINING INDUSTRY OF MONGOLIA
- 2. Current Problems Problems due to lack of regulated players in the Industry, Problems around PPP Capacity/Capability of professional societies Quality of professional education Responsible Mining, Competitiveness of mining companies Capability of Professional Services Companies Mining Industry Social License Competitiveness, Environmental and Mine Closure Related issues.
- 3. Self-regulation Undergraduate programs Professional Institute Professional Society-1 Professional Education Providers Recognition Life-long learning modules Practitioner programs Local administrations Professional discipline, self-regulated industry, participatory development
- 4. Thank You QMC Group Suite 202, Regency Residence UNESCO Street, Sukhbaatar District Ulaanbaatar 14210, Mongolia Tel: (976) 7711 1100 qmc.mn Industry Self-Regulation: What’s Working (and What’s Not)? Michael W. Toffel Prof. HBS http://hbswk.hbs.edu/item/in dustry-self-regulation-whats- working-and-whats-not … Some of this research focuses on firms working together to address collective action problems: cases where firms would benefit through coordination, but where it would be costly to them unless a significant number of players got involved. Classic examples of such industry coordination that resulted in their developing self-regulation programs were sparked by crises, including the chemical industry after the Bhopal accident and the nuclear power industry after the Three Mile Island incident.