The document provides a summary of business and economic news from Mongolia. Key points include:
- Erdene Resource Development has commenced its third and fourth quarter drilling campaign at gold projects in Mongolia.
- Aspire Mining has received interest from China Development Bank to fund construction of a railway in Mongolia.
- Baganuur coal mine in Mongolia is seeking $160 million to help finance an $870 million expansion project.
- Mongolia's currency and railway ticket prices have increased following operational losses and currency depreciation.
The document provides a summary of business and economic news from Mongolia. Key points include:
- Erdene Resource Development has commenced its third and fourth quarter drilling campaign at gold projects in Mongolia.
- Aspire Mining has received interest from China Development Bank to fund construction of a railway in Mongolia.
- Baganuur coal mine in Mongolia is seeking $160 million to help finance an $870 million expansion project.
- Mongolia's currency and railway ticket prices have increased following operational losses and currency depreciation.
- The document provides a summary of business and economic news from Mongolia. Key points include:
- The Oyu Tolgoi mine hit a record for material mined in a quarter and signed a major contract for underground development.
- Erdene's shares rose after positive drilling results at its gold project.
- Plans were discussed to build an electricity grid connecting Korea, China, Japan and Mongolia and a "high-speed data center" in Mongolia with Western tech firms.
This document discusses air pollution in Mongolia and its effects on children. It notes that children in Ulaanbaatar have significantly lower lung function and higher rates of respiratory diseases compared to rural children due to air pollution. Long-term exposure can also lead to chronic diseases later in life. It aims to reduce children's exposure to air pollution through various measures like improved construction, monitoring, and raising awareness. UNICEF seeks to partner with companies to take a coordinated approach to addressing this issue through initiatives such as providing air purifiers, electric heaters, and monitoring devices to kindergartens and clinics, while improving public awareness of air pollution's health impacts.
The Business Council of Mongolia held a meeting of its Energy and Environment Working Group on September 14, 2017 to discuss progress and plans on reducing air pollution and improving energy efficiency in Mongolia. Representatives from the Ministry of Environment and Tourism, Public Health Institute of Mongolia, and UNICEF provided updates on current initiatives and challenges. Key discussion points included the lack of information on funding for the National Program on Pollution Reduction, UNICEF's approach to crowd-funding and implementation, and indoor pollution assessment research. The group agreed to involve more permanent government members to provide policy guidance on future pollution reduction efforts.
The document summarizes the agenda and key details of the Business Council of Mongolia's September monthly meeting. The meeting was scheduled for September 11, 2017 from 4:45 PM to 7:30 PM at the Ministry of Foreign Affairs in Ulaanbaatar. The agenda included opening remarks, legislative working group updates, panel discussions on Mongolia's economic cooperation with Russia and China and proposed constitutional amendments, and a reception. The document also provides information on the Invest Mongolia working group and upcoming working group meetings.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
