Mongolia to construct second solar power plant www.news.mn

Japan's electronics giant Sharp Corp. is to build Mongolia's second megawatt-level solar power plant in the country's northern province of Darkhan-Uul. Sharp will build the plant together with local Mongolian partner Darkhan-Selenge Electric Distribution Network LLC.

Rosneft signs long-term contracts for oil product supply to Mongolia www.news.mn

Russia’s Rosneft has signed several long-term contracts for the supply of gasoline and diesel fuel with 12 Mongolian importers at the St. Petersburg International Economic Forum, the company said in a statement.

Import of heavy trucks to Mongolia increases www.news.mn

Mongolia is a country that imports a significant number of vehicles every year. As coal exports continue to increase, so too does the demand for heavy trucks; in the first four months of this year, the country imported 5,582 vehicles. This figure is 2.2 times higher than in the same period of 2017. The cost of the trucks import is USD 84.4 million - this being 2.8 times up on the previous year. This clearly is indicative of the robust growth mainly to mining activities and economic expansion. Mongolia hosts 10% of the world's known coal reserves.

Turkey & Gazprom agree on construction of land portion of Europe-bound Turkish Stream www.rt.com

Russian state energy giant Gazprom and the Turkish government have reached a deal on the construction of the land-based part of the Turkish Stream branch that will bring Russian gas to European consumers.
The parties signed a protocol that would allow the construction, which was stalled by a legal rift over gas prices, to go forward. Gazprom and Turkey’s state-owned BOTAS struck an agreement detailing the terms and conditions of the works, the Russian company said in a statement. It noted that the deal “allows to move to practical steps for the implementation of the project.”

South Korea eyes Mongolian pharmaceutical market www.news.mn

The Mongolian pharmaceutical market was worth 160 billion tugriks (USD 66.3 million) in 2015, according to the Ulaanbaatar Office of the Korea Trade-Investment Promotion Agency (KOTRA). Demand is increasing. About 80 percent of the nation’s total medicine demand relies on imports from 57 countries. Korean drugs are quite popular among Mongolians, as Korea ranks eighth among the 57 drug exporters in terms of export volume.

"Invest in Mongolia" Roadshow 13. June 2018, Frankfurt am Main www.oav.de

After a shaky year 2016, the Mongolian economy has recovered and is back to an economic growth of 5.1% in 2017, backed by investments in the mining sector and an increased resource production. How can European and German investors benefit from the reinvigorated Mongolian market?

We would like to inform you about the "Invest in Mongolia" Roadshow in Frankfurt, organized by the National Development Agency of Mongolia, the Embassy of Mongolia in Germany and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).

High level representatives of the Mongolian Government, including the Ministry of Mining and Heavy Industry, the National Development Agency and the Mongolian Development Bank, as well as representatives from the private sector will attend the roadshow and deliver presentations on the current Mongolian economic situation, favorable investment environments and profitable projects to potential investors and entrepreneurs.

The "Invest in Mongolia" Roadshow is a practical and efficient event for all enterprises and individuals that are actively seeking new investment and business opportunities in Mongolia. It is the ideal chance to meet representatives of the Mongolian government.

The event will be held in English. Participation is free of charge but requires a registration on the official website of Invest in Mongolia.

“Golden Triangle of Development” to boost economy in Mongolia’s central zone www.ubinfo.mn

In cohesion with the development of the Darkhan and Erdenet cities under international development trend of larger cities and settled areas, the Golden Triangle of Development policy was recently presented. According to the Mayor of Ulaanbaatar City Batbold Sundui, the policy was formulated with the governors of five aimags geographically located in the central zone. At present, the central zone comprises only 8 percent of the country's total territory, 10 percent of livestock, 10 percent of water reserve and 27 percent of the forest reserves. However, the central zone inhabits nearly 61 percent of the total population, produces 78 percent of GDP and sells 85 percent of industrial products.

The population density is around 286 persons per square kilometer in Ulaanbaatar, which is 150 times higher than the country’s average, and the capital is facing problems, such as air pollution, traffic jam, growing load of infrastructure and social services, which are 2-3 times than the proper amount. On the other hand, it plays a significant role in improving economic capacity of the country, the mayor noted. For example, the capital city economy was the fundament which sustainably ensured the country’s economic growth when mining and agricultural sectors were facing a crisis. “47 percent of its population and 60-70 percent of its economy and businesses are centered in one city. This raises a challenge to create leverages to analyse and resolve the urban centralization,” he added.

The goal of economic diversification of the three-pillared development policy, which was approved by the government early this year, is to plan the development of agriculture, tourism, industrialization, trade and infrastructure spheres in coordination with information technology, finance, transportation and logistics, and increase the country’s economic competitiveness, the mayor highlighted.

He announced that Ulaanbaatar will be a free economic zone in the near future and working group has been established in this regard.

The city governor’s proposed conception is to develop Ulaanbaatar, Darkhan and Erdenet under the Golden Triangle model of economic development as well as to ensure their sustainable development by increasing accessibility of human resources and workforce and improving market opportunities and resources in local areas using economic and administrative means together with Tuv, Selenge and Bulgan aimags, which are in gravitation and impact zone of the mentioned cities.

Also, a Memorandum of Understanding was signed between the Governors of the abovementioned cities and aimags to help decentralize Ulaanbaatar. For example, Selenge aimag expressed that it will be a reliable provider of healthy food and welcome some faculties of agricultural university. Selenge aimag’s deputy governor noted that out of its 17 soums, 16 were included in the crop farming zone of the country.

While, Darkhan-Uul aimag, where processing factories operate, offered to welcome all hide and skin processing factories at its territory. Darkhan-Uul aimag’s governor emphasized that the city utilizes only one third of its available capacity of producing heat and plans to increase electric power generation. Moreover, the Governor of Erdenet city underscored that infrastructure with fully resolved electric power and engineering networks have been established in 452 hectares of land. In addition, the Governor mentioned that its Science and Technology Park is successfully running its operation. With its profit, the Governor's office is planning to establish a development fund to provide loans to micro businesses.

As for Tuv aimag, its Governor highlighted that the aimag will be the most active zone of Mongolia’s development soon, as the Khushig Valley Airport and Great Maidar projects are finalizing. In addition, a power plant project, which is expected to generate 7 thousand jobs, will be implemented in the area.

Oyunbayar.N

Air corridor between India and Mongolia www.news.mn

An air corridor between India and Mongolia could start soon. A decision to explore the possibility of starting direct air services to Mongolia was taken during the recent visit to Ulaanbaatar by India’s External Affairs Minister Sushma Swaraj. The Mongolia air corridor is part of the India’s Act East policy to reach out to close nations. “We agreed to remove institutional and logistical impediments to boost our trade, tourism, and people to people contacts. In this regard, we also agreed to explore the possibility of launching direct air connectivity between our two capitals,” Sushma Swaraj said during the joint media briefing with Foreign Minister of Mongolia D.Tsogtbaatar.

Russia & France to talk nuclear energy partnership in third-party countries www.rt.com

Russian and French power companies are considering joint nuclear projects in third-party countries, says Russia’s Rosatom.The talks will take place during the St. Petersburg International Economic Forum this week.

Tesla is cutting prices in China www.cnn.com

The company is cutting the prices of its Model X and Model S cars in China by about 6% after Beijing said it would slash duties on imported passenger vehicles, starting July 1.