The Ministry of Mining in Mongolia has the mission of developing responsible and transparent mining practices through policies that encourage environmentally friendly and socially acceptable operations. The mining sector generated over 2 trillion MNT in tax revenue for the state budget in 2012, accounting for about 41.3% of total revenues. Investment and production in the mining sector has increased substantially between 2008-2012. Coal exploration and exports have also increased over this period. The government aims to improve the regulatory environment for mining and support the development of downstream industries.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories:
1) Rio Tinto is close to striking a deal with Mongolia on developing the second stage of the Oyu Tolgoi mine, as an engineering contractor has begun hiring workers for the project.
2) Mongolian Mining Corporation has secured $150 million in pre-export loan financing and a $50 million option to fund working capital and investments.
3) Mongolia Growth Group has appointed a new CEO, Paul Byrne, to lead the company in its next phase of development.
Bayarmaa A., Chair of the Environmental Working Group of BCM & Carbon Finance Specialist, Clean Energy & Member of Study Working Group, Asia Super Grid, Newcom
The document summarizes news from Mongolia across business, economic, and political topics. In business, a feasibility study for a coal washing plant in Mongolia was completed. Erdenes-TT expects to repay its debt to Chalco by the end of the year from coal sales. Mongolian and Japanese banks established a new leasing company called TDB Leasing. A Mongolian company acquired a 20% stake in a North Korean oil refinery to diversify Mongolia's energy sources away from Russia and China.
- The presentation summarizes the Selenge Iron Ore Project in Mongolia, which contains four primary iron ore targets with a total exploration target of 250-400 million tonnes.
- Drilling at the Bayantsogt target has outlined an initial JORC resource of 33 million tonnes at 24.4% iron and metallurgical testing indicates the ore can produce a high-grade 65-66% iron concentrate.
- The project is well located for supplying iron ore to inland steel mills in northern China, with strong demand and prices for magnetite concentrate.
The document summarizes a presentation given in 2015 on investment opportunities and challenges in Mongolia. It notes that while progress had been made in meeting investment needs, challenges remained including fiscal policy, infrastructure development, and laws governing mining and investment. Major projects like Oyu Tolgoi and Tavan Tolgoi presented both opportunities and risks. Overall the outlook was that continued investment, especially in mining and infrastructure, could help Mongolia benefit from its natural resources despite slowing growth in China.
The Ministry of Mining in Mongolia has the mission of developing responsible and transparent mining practices through policies that encourage environmentally friendly and socially acceptable operations. The mining sector generated over 2 trillion MNT in tax revenue for the state budget in 2012, accounting for about 41.3% of total revenues. Investment and production in the mining sector has increased substantially between 2008-2012. Coal exploration and exports have also increased over this period. The government aims to improve the regulatory environment for mining and support the development of downstream industries.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories:
1) Rio Tinto is close to striking a deal with Mongolia on developing the second stage of the Oyu Tolgoi mine, as an engineering contractor has begun hiring workers for the project.
2) Mongolian Mining Corporation has secured $150 million in pre-export loan financing and a $50 million option to fund working capital and investments.
3) Mongolia Growth Group has appointed a new CEO, Paul Byrne, to lead the company in its next phase of development.
Bayarmaa A., Chair of the Environmental Working Group of BCM & Carbon Finance Specialist, Clean Energy & Member of Study Working Group, Asia Super Grid, Newcom
The document summarizes news from Mongolia across business, economic, and political topics. In business, a feasibility study for a coal washing plant in Mongolia was completed. Erdenes-TT expects to repay its debt to Chalco by the end of the year from coal sales. Mongolian and Japanese banks established a new leasing company called TDB Leasing. A Mongolian company acquired a 20% stake in a North Korean oil refinery to diversify Mongolia's energy sources away from Russia and China.
- The presentation summarizes the Selenge Iron Ore Project in Mongolia, which contains four primary iron ore targets with a total exploration target of 250-400 million tonnes.
- Drilling at the Bayantsogt target has outlined an initial JORC resource of 33 million tonnes at 24.4% iron and metallurgical testing indicates the ore can produce a high-grade 65-66% iron concentrate.
- The project is well located for supplying iron ore to inland steel mills in northern China, with strong demand and prices for magnetite concentrate.
The document summarizes a presentation given in 2015 on investment opportunities and challenges in Mongolia. It notes that while progress had been made in meeting investment needs, challenges remained including fiscal policy, infrastructure development, and laws governing mining and investment. Major projects like Oyu Tolgoi and Tavan Tolgoi presented both opportunities and risks. Overall the outlook was that continued investment, especially in mining and infrastructure, could help Mongolia benefit from its natural resources despite slowing growth in China.
The document summarizes a newsletter from the Business Council of Mongolia covering business, economic, and political news in Mongolia. It discusses ongoing parliamentary debate on an investment agreement for the Oyu Tolgoi copper-gold mine, changes made to the proposed windfall profits tax, and indications from the Mongolian government that it is willing to show flexibility on taxes for gold mining companies. It also provides a recap of the most recent BCM monthly meeting which discussed Mongolia's economic situation and relations with the IMF, US, and other countries.
The document summarizes notes from an informal meeting of the BCM legislative Working Group on May 20, 2014. It discusses concerns about the stability of laws, unclear country strategy, poor investor relations, and use of bond proceeds in Mongolia. Specifically, it notes laws on foreign investment have changed twice in recent years and lack of resolution on OT discussions raises questions about stability agreements. It stresses the need for clear, consistent messages, laws and actions to engage investors who have lost patience and attract others looking for investment opportunities in Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It discusses negotiations over mining agreements for the Oyu Tolgoi and Tavan Tolgoi deposits. The draft agreement for Oyu Tolgoi would give the Mongolian government 34% initially, increasing to 50% after 30 years, and includes provisions for taxes, smelting in Mongolia, employment, and infrastructure. The Western Prospector company is eager to begin work on its Gurvanbulag uranium project and believes production could start within 2-2.5 years if its mining license is approved. Mongolia's politics appear increasingly cooperative for major mining projects to bring in external capital needed to support the economy.
1) The Revised Securities Market Law aims to modernize Mongolia's regulatory framework for its securities market and bring it in line with international standards.
2) New provisions recognize concepts like beneficial ownership, depositary receipts, and derivative financial instruments to improve the market.
3) Implementation will require additional regulations from regulatory agencies on various aspects of the new law and amendments to other laws.
4) The changes are intended to increase transparency, protect investors, and improve liquidity on Mongolia
This document provides a summary of business and economic news from Mongolia in Issue 130 of the Business Council of Mongolia NewsWire dated August 6, 2010. Key highlights include:
- Khan Resources winning a second court case reinstating its uranium exploration license in Mongolia.
- Petro Matad's shares rising after tests confirm the presence of oil in its first exploration well and it beginning a three-well drilling campaign.
- Ivanhoe Mines having "interesting discussions" with potential new strategic investors after easing restrictions on its shareholder registry.
- The EBRD and Khan Bank signing Mongolia's first co-financing facility agreement worth $10 million to expand Khan Bank's
- Centerra Gold produced 675,592 ounces of gold in 2009 and expects production of 640,000-700,000 ounces in 2010.
- The document discusses Centerra's operations in Mongolia and the Kyrgyz Republic, including the Boroo and Kumtor mines.
- It provides details on recent developments and reserves at the Boroo and Gatsuurt projects in Mongolia, including construction of a road to access Gatsuurt which could extend Boroo's operating life by over 10 years.
Undur Tolgoi Minerals is an emerging copper explorer focused on its 9,620 hectare license located 106km from the giant Oyu Tolgoi copper deposit in Mongolia. The company was founded by the Firebird Mongolia Fund and has raised $7 million to finance exploration activities including soil and rock sampling, geophysical surveys, and an upcoming drilling program. Undur Tolgoi's property shows evidence of copper mineralization at surface and is situated in a region with other large copper and gold deposits, positioning it for near-term catalysts from exploration results.
This document provides an overview of foreign mining investment in Mongolia, including:
1) Mongolia has attracted significant foreign investment in mining from companies around the world, though most projects are still in exploration or early development stages.
2) The Mongolian government aims to balance attracting foreign investment with national development goals like economic diversification and ensuring social benefits, under pressure from competing domestic interests.
3) Mongolia's legal system and mining laws, including the 2006 Minerals Law, establish the framework for the industry but require further regulatory clarity in some key areas around strategic deposits and administrative discretion.
The document provides a summary of business and economic news from Mongolia. It discusses Mongolian Mining finalizing a debt restructuring plan, a report calling the Northern Rail Corridor a competitive route for China-Europe trade, an oil explorer abandoning its operations in Uvs Aimag, a miner dying in an accident at a Chinese-owned mine, and a Japanese ramen chain considering expanding to Mongolia and Greece. It also summarizes Mongol Bank currency auctions and procurement of gold, the tugrik reaching a new low against the dollar, and Mongolia rejecting most project funding requests in its 2017 budget.
The document provides an overview of Sharyn Gol JSC, a coal mining company in Mongolia. It summarizes that Sharyn Gol has large coal resources, currently produces around 500,000 tons annually but plans to increase production significantly. It also has its own rail line providing access to domestic and international markets. The company aims to become a major coal supplier in Mongolia and the Asian region to meet growing energy demand.
The document summarizes Mongolia's macroeconomic policies in response to balance of payments shocks and after economic adjustment. It discusses:
1. Mongolia implemented countercyclical monetary and fiscal policies to ensure stability during a 2013 balance of payments shock, maintaining balanced economic growth.
2. In response, Mongolia absorbed shock impacts through exchange rate flexibility and reserves while implementing economic stimulus measures and reforms.
3. Going forward, Mongolia aims to maintain a prudent and stable macroeconomic policy mix of fiscal discipline and flexible, non-inflationary monetary policy to support sustainable growth.
The document provides a summary of business and economic news from Mongolia. Some of the key points include:
- SouthGobi Resources suspended plans to build a railway from its coal mine to the Chinese border due to uncertainty over Mongolia's rail policy, and will instead focus on upgrading the road.
- Ivanhoe Mines said its Oyu Tolgoi copper mine may get a new partner in addition to Rio Tinto, as most large copper mines have multiple owners.
- SouthGobi Resources reported a net loss for the first quarter of 2010 due primarily to the partial conversion of a convertible debenture from China Investment Corporation, but revenues increased compared to the first quarter of 2009.
The document summarizes business and economic news from Mongolia. Key points include:
- Ivanhoe Mines is confident its power deal with China will come through in time for its 2013 copper production target.
- The Mongolian government established a state-owned firm, Erdenes Oyutolgoi, to manage its interest in the Oyu Tolgoi mine.
- Xanadu Mines reported total coal resources of 497 million tons across its projects after a new resource estimate.
- The Coal Mongolia conference will be held in Ulaanbaatar to attract investments into Mongolia's coal sector.
- GE will provide technical training to support Mongolia's Salkhit wind farm
This document discusses Mongolia's legal environment and international trade. It covers Mongolia's Romano-Germanic legal tradition, its court system including levels of courts and training for judges. The development of business and international trade law is also examined, including key legislation and Mongolia's accession to the WTO. Main trade related laws are listed and foreign investment framework and trends are outlined. Finally, dispute resolution options are mentioned including the national arbitration court and international litigation under the New York Convention.
1) The document compares Mongolia's competitiveness to other countries across several metrics from the perspectives of consumers, companies, and the state. Mongolia scores highest in areas like price, product quality, and tax environment.
2) It outlines Mongolia's goals to increase coal production and exports over the period of 2014-2018, with exports projected to reach 59 million tons by 2018. A large portion of increased state budget revenue is expected to come from coal.
3) The government aims to improve infrastructure, expand markets and buyers, set up a commodities exchange, reduce taxes and barriers to bilateral trade, and increase border port capacity to achieve these goals. Companies are encouraged to improve efficiency and cash flow.
This document provides an overview of Mongolia's investment climate and recent trends that are impacting foreign direct investment. It notes that while Mongolia has traditionally supported FDI, recent legislative changes have increased uncertainty and perceived investment risk. Specifically, it discusses the passage of the 2012 Strategic Entities Foreign Investment Law, which limits foreign ownership in key sectors like mining and imposes new approval requirements. Overall, the document suggests that Mongolia's legal and regulatory environment for investment has become more volatile as the government and parliament attempt to balance revenue demands with public expectations around major resource projects.
Sanjgaagiin Bayar was elected as Mongolia's new Prime Minister by Parliament with 97.1% of the vote. An international brokerage firm identified five Mongolian companies that meet the criteria to be listed on the Hong Kong Stock Exchange. Khan Bank signed agreements with the European Bank for Reconstruction and Development, making it the first Mongolian recipient of $50 million in funding to provide loans to businesses and individuals. The government is facing inflation of 13.2% and implemented measures to control rising prices such as subsidizing transportation costs and monitoring meat prices.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened Three Camel Lodge in 2002 as the only luxury eco-lodge in the Gobi Desert. Built by and staffed by locals, Three Camel Lodge offers travelers a way to experience the nomadic spirit of the region alongside modern comforts while protecting the natural beauty and culture.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened the only luxury eco-lodge in the Gobi Desert, Three Camel Lodge, in 2002. Built by and staffed by locals, Three Camel Lodge offers travelers a variety of activities to learn about nomadic culture while enjoying modern comforts in a way that showcases the nomadic spirit without destroying the natural environment of the region.
The Business Council of Mongolia published its January 2020 Macroeconomic Updates report which contained the following key points:
1) Mongolia's GDP grew 6.3% in Q3 2019 while inflation was at 5.2% in December 2019. Exports reached a historic high of $7.6 billion in 2019, driven by record coal exports.
2) Foreign direct investment in Mongolia totaled $21.5 billion as of 2019, with the majority from Canada, China, Singapore, and Luxembourg invested mainly in mining.
3) The Mongolian currency, the togrog, depreciated 3.8% against the US dollar in 2019 as the central bank supplied $2.
The document summarizes a newsletter from the Business Council of Mongolia covering business, economic, and political news in Mongolia. It discusses ongoing parliamentary debate on an investment agreement for the Oyu Tolgoi copper-gold mine, changes made to the proposed windfall profits tax, and indications from the Mongolian government that it is willing to show flexibility on taxes for gold mining companies. It also provides a recap of the most recent BCM monthly meeting which discussed Mongolia's economic situation and relations with the IMF, US, and other countries.
The document summarizes notes from an informal meeting of the BCM legislative Working Group on May 20, 2014. It discusses concerns about the stability of laws, unclear country strategy, poor investor relations, and use of bond proceeds in Mongolia. Specifically, it notes laws on foreign investment have changed twice in recent years and lack of resolution on OT discussions raises questions about stability agreements. It stresses the need for clear, consistent messages, laws and actions to engage investors who have lost patience and attract others looking for investment opportunities in Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It discusses negotiations over mining agreements for the Oyu Tolgoi and Tavan Tolgoi deposits. The draft agreement for Oyu Tolgoi would give the Mongolian government 34% initially, increasing to 50% after 30 years, and includes provisions for taxes, smelting in Mongolia, employment, and infrastructure. The Western Prospector company is eager to begin work on its Gurvanbulag uranium project and believes production could start within 2-2.5 years if its mining license is approved. Mongolia's politics appear increasingly cooperative for major mining projects to bring in external capital needed to support the economy.
1) The Revised Securities Market Law aims to modernize Mongolia's regulatory framework for its securities market and bring it in line with international standards.
2) New provisions recognize concepts like beneficial ownership, depositary receipts, and derivative financial instruments to improve the market.
3) Implementation will require additional regulations from regulatory agencies on various aspects of the new law and amendments to other laws.
4) The changes are intended to increase transparency, protect investors, and improve liquidity on Mongolia
This document provides a summary of business and economic news from Mongolia in Issue 130 of the Business Council of Mongolia NewsWire dated August 6, 2010. Key highlights include:
- Khan Resources winning a second court case reinstating its uranium exploration license in Mongolia.
- Petro Matad's shares rising after tests confirm the presence of oil in its first exploration well and it beginning a three-well drilling campaign.
- Ivanhoe Mines having "interesting discussions" with potential new strategic investors after easing restrictions on its shareholder registry.
- The EBRD and Khan Bank signing Mongolia's first co-financing facility agreement worth $10 million to expand Khan Bank's
- Centerra Gold produced 675,592 ounces of gold in 2009 and expects production of 640,000-700,000 ounces in 2010.
- The document discusses Centerra's operations in Mongolia and the Kyrgyz Republic, including the Boroo and Kumtor mines.
- It provides details on recent developments and reserves at the Boroo and Gatsuurt projects in Mongolia, including construction of a road to access Gatsuurt which could extend Boroo's operating life by over 10 years.
Undur Tolgoi Minerals is an emerging copper explorer focused on its 9,620 hectare license located 106km from the giant Oyu Tolgoi copper deposit in Mongolia. The company was founded by the Firebird Mongolia Fund and has raised $7 million to finance exploration activities including soil and rock sampling, geophysical surveys, and an upcoming drilling program. Undur Tolgoi's property shows evidence of copper mineralization at surface and is situated in a region with other large copper and gold deposits, positioning it for near-term catalysts from exploration results.
This document provides an overview of foreign mining investment in Mongolia, including:
1) Mongolia has attracted significant foreign investment in mining from companies around the world, though most projects are still in exploration or early development stages.
2) The Mongolian government aims to balance attracting foreign investment with national development goals like economic diversification and ensuring social benefits, under pressure from competing domestic interests.
3) Mongolia's legal system and mining laws, including the 2006 Minerals Law, establish the framework for the industry but require further regulatory clarity in some key areas around strategic deposits and administrative discretion.
The document provides a summary of business and economic news from Mongolia. It discusses Mongolian Mining finalizing a debt restructuring plan, a report calling the Northern Rail Corridor a competitive route for China-Europe trade, an oil explorer abandoning its operations in Uvs Aimag, a miner dying in an accident at a Chinese-owned mine, and a Japanese ramen chain considering expanding to Mongolia and Greece. It also summarizes Mongol Bank currency auctions and procurement of gold, the tugrik reaching a new low against the dollar, and Mongolia rejecting most project funding requests in its 2017 budget.
The document provides an overview of Sharyn Gol JSC, a coal mining company in Mongolia. It summarizes that Sharyn Gol has large coal resources, currently produces around 500,000 tons annually but plans to increase production significantly. It also has its own rail line providing access to domestic and international markets. The company aims to become a major coal supplier in Mongolia and the Asian region to meet growing energy demand.
The document summarizes Mongolia's macroeconomic policies in response to balance of payments shocks and after economic adjustment. It discusses:
1. Mongolia implemented countercyclical monetary and fiscal policies to ensure stability during a 2013 balance of payments shock, maintaining balanced economic growth.
2. In response, Mongolia absorbed shock impacts through exchange rate flexibility and reserves while implementing economic stimulus measures and reforms.
3. Going forward, Mongolia aims to maintain a prudent and stable macroeconomic policy mix of fiscal discipline and flexible, non-inflationary monetary policy to support sustainable growth.
The document provides a summary of business and economic news from Mongolia. Some of the key points include:
- SouthGobi Resources suspended plans to build a railway from its coal mine to the Chinese border due to uncertainty over Mongolia's rail policy, and will instead focus on upgrading the road.
- Ivanhoe Mines said its Oyu Tolgoi copper mine may get a new partner in addition to Rio Tinto, as most large copper mines have multiple owners.
- SouthGobi Resources reported a net loss for the first quarter of 2010 due primarily to the partial conversion of a convertible debenture from China Investment Corporation, but revenues increased compared to the first quarter of 2009.
The document summarizes business and economic news from Mongolia. Key points include:
- Ivanhoe Mines is confident its power deal with China will come through in time for its 2013 copper production target.
- The Mongolian government established a state-owned firm, Erdenes Oyutolgoi, to manage its interest in the Oyu Tolgoi mine.
- Xanadu Mines reported total coal resources of 497 million tons across its projects after a new resource estimate.
- The Coal Mongolia conference will be held in Ulaanbaatar to attract investments into Mongolia's coal sector.
- GE will provide technical training to support Mongolia's Salkhit wind farm
This document discusses Mongolia's legal environment and international trade. It covers Mongolia's Romano-Germanic legal tradition, its court system including levels of courts and training for judges. The development of business and international trade law is also examined, including key legislation and Mongolia's accession to the WTO. Main trade related laws are listed and foreign investment framework and trends are outlined. Finally, dispute resolution options are mentioned including the national arbitration court and international litigation under the New York Convention.
1) The document compares Mongolia's competitiveness to other countries across several metrics from the perspectives of consumers, companies, and the state. Mongolia scores highest in areas like price, product quality, and tax environment.
2) It outlines Mongolia's goals to increase coal production and exports over the period of 2014-2018, with exports projected to reach 59 million tons by 2018. A large portion of increased state budget revenue is expected to come from coal.
3) The government aims to improve infrastructure, expand markets and buyers, set up a commodities exchange, reduce taxes and barriers to bilateral trade, and increase border port capacity to achieve these goals. Companies are encouraged to improve efficiency and cash flow.
This document provides an overview of Mongolia's investment climate and recent trends that are impacting foreign direct investment. It notes that while Mongolia has traditionally supported FDI, recent legislative changes have increased uncertainty and perceived investment risk. Specifically, it discusses the passage of the 2012 Strategic Entities Foreign Investment Law, which limits foreign ownership in key sectors like mining and imposes new approval requirements. Overall, the document suggests that Mongolia's legal and regulatory environment for investment has become more volatile as the government and parliament attempt to balance revenue demands with public expectations around major resource projects.
Sanjgaagiin Bayar was elected as Mongolia's new Prime Minister by Parliament with 97.1% of the vote. An international brokerage firm identified five Mongolian companies that meet the criteria to be listed on the Hong Kong Stock Exchange. Khan Bank signed agreements with the European Bank for Reconstruction and Development, making it the first Mongolian recipient of $50 million in funding to provide loans to businesses and individuals. The government is facing inflation of 13.2% and implemented measures to control rising prices such as subsidizing transportation costs and monitoring meat prices.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened Three Camel Lodge in 2002 as the only luxury eco-lodge in the Gobi Desert. Built by and staffed by locals, Three Camel Lodge offers travelers a way to experience the nomadic spirit of the region alongside modern comforts while protecting the natural beauty and culture.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened the only luxury eco-lodge in the Gobi Desert, Three Camel Lodge, in 2002. Built by and staffed by locals, Three Camel Lodge offers travelers a variety of activities to learn about nomadic culture while enjoying modern comforts in a way that showcases the nomadic spirit without destroying the natural environment of the region.
The Business Council of Mongolia published its January 2020 Macroeconomic Updates report which contained the following key points:
1) Mongolia's GDP grew 6.3% in Q3 2019 while inflation was at 5.2% in December 2019. Exports reached a historic high of $7.6 billion in 2019, driven by record coal exports.
2) Foreign direct investment in Mongolia totaled $21.5 billion as of 2019, with the majority from Canada, China, Singapore, and Luxembourg invested mainly in mining.
3) The Mongolian currency, the togrog, depreciated 3.8% against the US dollar in 2019 as the central bank supplied $2.
Faro Foundation Mongolia is a non-governmental organization that promotes digital literacy and safe internet use in Mongolia. It works to educate the public on topics like online safety, proper social media use, and cyberbullying prevention. The organization's primary goal is to create positive social change through social media. It has developed a digital literacy curriculum and library on Facebook to teach essential digital skills to students, teachers, and parents.
The Business Council of Mongolia (BCM) is an independent non-profit organization established in 2007 to advocate for economic freedom and a competitive business environment in Mongolia. It has over 240 member organizations from various sectors. The BCM aims to equip its members with policy research, training, and networking opportunities. It is organized with a Board of Directors, Executive Committee, and six working groups focused on key issues. The Growth and Innovation working group works to promote digital transformation in Mongolia.
The One-Stop-Service Center (OSSC) was established in February 2019 under the Prime Minister's order to provide centralized public services to investors in Mongolia. The OSSC was created as part of Mongolia's three-pillar development policy and on the recommendation of the Investment Protection Council. It allows five government bodies, a bank, and notary office to render services to foreign investors from one location.
Mongolians are building a competitive Fintech sector with international ambitions by cultivating agile and innovative teams combining specialists and experts from 6 nationalities. To become truly internationally competitive, Mongolia must train professionals and executives to international standards by growing their next generation of innovative leaders and skilled experts. Overcoming these challenges will allow Mongolia to solve growing issues and compete in international markets.
The document discusses competitiveness rankings for Mongolia and its provinces. It analyzes Mongolia's performance in the IMD World Competitiveness Ranking, where Mongolia ranked 62nd out of 63 countries in 2018. The ranking evaluates countries across 4 factors: economic performance, government efficiency, business efficiency, and infrastructure. The document also summarizes findings from a provincial competitiveness report for Mongolia, which evaluated and ranked the competitiveness of Mongolia's 21 provinces. Finally, it outlines criteria and results from a competitiveness ranking of districts in Ulaanbaatar city across 5 factors of quality of life, living environment, safety and security, governance, and economic performance.
Digital transformation involves using digital technology in new ways to solve traditional business problems and drive organizational change. The presentation discusses how digital transformation differs from related concepts like digitization, analytics, and outsourcing. Key aspects of digital transformation include leveraging data as a strategic asset, adapting to digital natives, and undergoing cultural and technological changes. Methods like agile project management and design sprints are presented as ways to accelerate transformation. The presentation also provides examples of how companies have transformed, such as Domino's Pizza using digital strategies to regain market share.
DBS Bank was named the world's best digital bank by Euromoney in 2016 and 2018, beating competitors like Citi, BBVA, and ING. The CEO of DBS Bank, Piyush Gupta, accepted the award and said that banks of the future will be fundamentally different than today's banks due to their digital transformation. DBS Bank has spent three years focused on digital initiatives by changing employee mindsets and technology infrastructure to make banking simple and seamless for customers.
Mongolia transitioned to democracy in the early 1990s after a peaceful revolution. It now has a multi-party parliamentary democracy with freedoms of religion, expression, and private property rights guaranteed in its constitution. Mongolia's economy depends heavily on its mineral and agricultural sectors as it continues developing a market economy after transitioning from Soviet control.
The document discusses the Growth & Innovation Working Group of the Business Council Mongolia. The working group aims to:
1. Promote and advance business growth and innovation in Mongolian society through educating businesses, government, and the public on opportunities in research and development.
2. Enable all organizations to grow and innovate, not just start-ups or sectors traditionally thought of as innovative.
3. Focus on key objectives like digitalization, infrastructure, financial technology, data security, efficiency, public investment policy, and intellectual property protection to support the digital transformation of consumer and enterprise services through technologies like IoT, AI, fintech, blockchain, and more.
The working group plans events
The BCM held its January monthly meeting to discuss organizational updates. Key points:
- The BCM elected a new 15-member Board of Directors and appointed an Executive Committee and Working Groups.
- Two presentations were given on legal environments for asset management in Mongolia and on responsible mining.
- The BCM revised its mission statement to focus on providing members with policy research, training, and networking support for business in Mongolia.
- The BCM reorganized its working groups, which are now chaired by Board members, and strengthened its secretariat.
The document discusses Mongolia, Russia, and China's economic corridor program. It notes that the program aims to improve connectivity between the three countries through projects involving railway, roads, energy transmission lines, gas and oil pipelines, and high-speed internet. There are currently 32 projects across areas like infrastructure, energy, agriculture, border cooperation, trade, environment, education, medicine, and more. The document also discusses plans to establish a joint center for investment planning and projection in Ulaanbaatar to facilitate implementation of the economic corridor program projects and further trilateral cooperation.
This document provides information on business opportunities through procurement for Mongolia's Second Compact Agreement with the Millennium Challenge Corporation (MCC). It outlines that the total grant value is $350 million to fund activities supporting economic growth and poverty reduction in Mongolia. Key business opportunities include consulting services, goods, and construction works valued at approximately $44 million for the base year. The presentation also reviews MCC's procurement principles of transparency, fairness and competitiveness. It provides details on the procurement process and how opportunities will be advertised.