1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Erdenet Mining Corporation able to operate another 60 years www.en.montsame.mn

 
Orkhon /MONTSAME/ During the central region forum of mining industry held in Orkon aimag on May 15-16 on the occasion of the 95th anniversary of the development of the mining sector in Mongolia, Director of Erdenet Mining Corporation Kh.Badamsuren briefly informed about the current state of the Erdenet - one of the largest copper mines and some major works completed within the first four months of 2017.
 
As of the first quarter of 2017, the company has allocated over MNT 190 billion to the state budget and completed formulating a plan for the development tendency of the company for the next 15 years. “Erdenet Mining Corporation has a potential to work for another 60 years” he noted.
 
Furthermore, an issue of white dust produced by the mining activity of the Erdenet Mining Corporation in Orkhon aimag was discussed. In this regard, D.Tsogtbaatar, head of the Professional Association of Mining (PAM) said a request to reduce the dust emssions has been forwarded to the company. "Talks are underway to develop and introduce a new technology from USA to reduce dust emission”.
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Japan's economy just logged its longest stretch of growth in over a decade www.businessinsider.com

 
Japan’s economy grew at the fastest pace in a year in the first quarter of 2017, according to data released by the government on Thursday.
 
Real GDP increased by 0.5%, marginally shading expectations for a smaller expansion of 0.4%. It was also an improvement on the 0.3% increase of December quarter.
 
It was the fifth consecutive quarterly increase, the longest stretch of uninterrupted growth since 2006.
 
While a notable achievement, the record provides an indication about the struggles the Japanese economy has endured over that period, buffeted by falling population growth, deflation and the global financial crisis.
 
The quarterly increase took the seasonally-adjusted annual rate to 2.2%, the fastest growth seen since the first quarter of 2016. That was ahead of market forecasts for an increase of 1.7%, and followed an upwardly-revised December quarter figure of 1.4%.
 
According to the government, domestic demand grew by 0.4%, driven by a similar increase in private consumption during the quarter.
 
The latter accounts for around 60% of the total Japanese economy.
 
Elsewhere private residential investment rose by 0.7%, while business investment grew by a smaller 0.2%.
 
Public demand expanded by a smaller 0.1%
 
External demand, or net exports, added 0.1% to the quarterly GDP figure as exports grew faster than imports.
 
However, while real GDP grew, nominal GDP — including price movements during the quarter — recorded a marginal decline.
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Foreign ministers of Mongolia and Thailand meet www.en.montsame.mn

Ulaanbaatar /MONTSAME/ On May 17, Ts.Munkh-Orgil, Minister of Foreign Affairs of Mongolia met with his counterpart of Thailand, Don Pramudwinai. The foreign ministers discussed a broad range of issues concerning Mongolia-Thailand bilateral relations and they noted the importance of broadening the cooperation in areas of trade, economy and tourism.
 
During the meeting, Minister Ts.Munkh-Orgil highlighted that Mongolia strives to enhance its participation in the regional integration process, for instance, by becoming an ASEAN Dialogue Partner and requested for continued support from Thailand in this regard.
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Renewable energy network to be established between Mongolia and Russia www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Prime Minister of Mongolia J.Erdenebat received Oleg Mikhailovich Budargin, Director General of Russian Rosseti LLC on May 16. On behalf of Rosseti LLC, Mr. Oleg Mikhailovich Budargin expressed the company’s intention to implement a project to establish a renewable energy network. And PM J.Erdenebat agreed upon the request to deploy working group to establish 500 kWh renewable energy line between Mongolia and Russia.
 
By establishing the network, Mongolia would be provided with sustainable energy. And the sides are aiming to establish an energy supply line with a capacity of 220 kWh. The line, which will be built with fiber optic cable, will enable the development of telecommunications.
 
The United Nations has made resolutions to use renewable energy in the Global Energy Grid. The sides were pleased to agree upon the possible establishment of a joint energy network between the two countries, which can also connect Asia and Europe. Presently, Mongolia negotiated on establishing a railway corridor between the two neighbors. And PM J.Erdenebat remarked the possibilities of establishing a renewable energy corridor as well.
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Lotte to sharply boost chocolate output capacity in Japan www.asia.nikkei.com

 
TOKYO -- In response to robust demand, Lotte Holdings will spend about 32 billion yen ($288 million) to set up a chocolate ingredient plant in Japan, aiming to increase its overall chocolate production by roughly 40%.
 
The facility, which is expected to reach full operation in June 2019, will be situated on the premises of Lotte's mainstay Urawa production plant, in Saitama Prefecture. The snack maker, a key part of the Lotte business empire straddling Japan and South Korea, hasn't made an investment of this size since the 1960s, when it opened the Urawa factory.
 
The new plant will produce the intermediate ingredient for chocolate. The plant's output will be used to make such finished products as Ghana Milk Chocolate and Choco Pie. This will enable Lotte to lift its annual chocolate production capacity to about 110 billion yen in sales value.
 
Chocolate products touting health benefits have grown increasingly popular in Japan. With many chocolate makers rolling out snacks with high cacao content and probiotics, sales to middle-aged and senior consumers have been brisk. According to industry group All Nippon Kashi Association, the Japanese market for chocolate grew 18% over five years to 526 billion yen in 2016, based on retail value. Lotte decided on the major factory investment on expectations that demand will continue to grow, particularly for chocolate products featuring health-promoting ingredients.
 
Rivals are also ramping up production. In September, Meiji Holdings' core subsidiary spent over 500 million yen to double the production capacity of chocolate with high cacao content at an Osaka plant. Also last fall, Ezaki Glico more than doubled the output volume of Libera chocolate, which the company claims helps hold down fat and sugar absorption.
 
Lotte is separately working on increasing ice cream production as well. Its Lotte Ice Cream unit plans to install a 7 billion yen production line at the Urawa factory, with the goal of bringing it on line as early as fiscal 2018. With some upscale ice cream brands selling well even in winter, the confectionery maker hopes to capitalize on the strong demand.
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Korean Air to plant trees in Mongolia to prevent desertification www.koreanair.com

 
Korean Air has been taking the lead in saving the Earth by volunteering for 14 consecutive years to plant trees in Mongolia.
 
From May 15th to 26th, more than 200 Korean Air employees will be cooperating with 600 local residents to plant trees in Mongolia. This activity is part of Korean Air’s ‘Global Planting Project’ which aims to prevent desertification of the city and save the environment. What was once a deserted area now has more than 110,000 trees planted and has been renamed ‘Korean Air Forest’. The forest is located at Baganuur, a city 150 kilometers east of Ulaanbaatar, the capital of Mongolia.
 
‘Korean Air Forest’ covers an area of 440,000 square meters and consists mainly of poplar trees, sea buckthorn and Siberian elms. The fruits of the sea buckthorn are used as ingredients of vitamin drinks. Thus planting trees not only makes the city greener but also contributes to increasing the incomes of local residents. The airline is focused on maintaining the forest well and has hired a local professional to look after it and to train local residents in supervision.
 
Moreover, Korean Air has been donating educational materials such as computers, desks and chairs to local schools which participate with the airline in the tree planting activity. Thanks to Korean Air’s continuous effort, residents’ determination to save the environment has grown tremendously and they have become ardent supporters of the annual planting activity.
 
Apart from tree planting, Korean Air has engaged in an array of programs in the different markets where it flies to assist communities in need. Utilizing its extensive global network, the airline has provided relief goods to countries such as Myanmar, Nepal, Japan and Peru when they were affected by natural disasters. Korean Air will continue to roll out corporate social responsibility programs at home and abroad, in support of protecting the environment, maintaining sustainable development and supporting local communities.
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Mongolia will play its own music in Belt and Road orchestra, says PM www.news.cgtn.com

 
The Prime Minister of Mongolia, Jargaltulga Erdenebat, praised the Belt and Road Initiative as a “major development milestone” and insisted Mongolia would play its role in the project, in an interview with CGTN after the close of a crucial Belt and Road Forum in Beijing this week.
 
“We all witness the global affairs on political, economic and social areas are not easy these days. And this uneasiness remains a major challenge to all of us in maintaining our collective and sustainable development goal,” Erdenebat‍ told CGTN's Dialogue with Yang Rui.
The Belt and Road Forum brought together the leaders of 29 countries as well as of the United Nations, the World Bank and the International Monetary Fund, he noted. "That already testifies that the Belt and Road Initiative has already emerged as a major international event and a major international development milestone.”
 
“Mr. Xi Jinping said it’s going to be an orchestra to be played by many different players from all over the world. In that sense, Mongolia, with her own musical instrument, with her own developmental agenda... will be playing our own music in this collective orchestra of the world.”
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'Trump Trade' turns to trepidation as investors unwind www.reuters.com

Investors were shelving rosy hopes for U.S. tax reform and rethinking strategies premised on Donald Trump's economic growth promises on Wednesday, as the President faced his loudest criticism yet over possible collusion between his election campaign and Russia.

From stocks to bonds to the U.S. dollar, a bevy of trades that have been fashionable since Trump's election last November, were getting dialed back or in some cases shredded as his reform agenda looked increasingly vulnerable amid the fallout from his firing last week of James Comey, the director of the Federal Bureau of Investigation.

The uncertainty about Trump's future increased in the last 24 hours over allegations Trump had sought to end Comey's investigation into ties between the president's first national security adviser, Michael Flynn, and Russia, and even some Republicans were now calling for a deeper probe into possible obstruction of justice.

The result was the harshest sell off yet in U.S. stocks since Trump was elected and a jettisoning of positions that were tied to the notion that his policies would stoke economic growth and inflation.

"The Trump Trade is over as of today," Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, who said they have been selling for the past 45 days and continued to be bearish on risky assets today. "We've seen cracks all year, but today, this is the first institutional selling we are seeing."

Indeed, some "Trump trades" have been unwinding for weeks, especially in the bond and currency markets where bets on inflation risks and economic growth prospects are most prevalent.

"This has created opportunities for investors," said Richard Benson, managing director, co-head of portfolio investments, Millennium Global Investments, London, who said they had been short U.S. dollars against European currencies. "And right now, we're looking at these opportunities."

On Wednesday, one key indicator of the level of inflation five years from now fell to its lowest since late November. Meanwhile, the U.S. dollar, which had surged more than 5.0 percent after Trump's election, was effectively back to its Election Day level.

The real pain trade on Wednesday, though, was in stocks. Through the end of last week the S&P 500 stock index had gained more than 12 percent since Trump won the White House, and while the index has seen one other day since last November's election in which it fell by more than 1.0 percent, Wednesday's drop of 1.7 percent was its largest one-day fall in eight months.

"It doesn't mean that institutions are saying: 'its time to leave the U.S.', but for various reasons it's time to go to the sidelines," said Michael Purves, chief global strategist at Weeden & Co.

Julian Emanuel, executive director of U.S. equity and derivatives strategy at UBS Securities, said clients were "certainly concerned because it increases the uncertainty".

With Washington policymakers distracted by Trump's political problems, investors were betting on a longer timeline to get to tax reform.

"Immediately after the election, we asked our analysts to use lower forward-looking tax rates in their models, and now in the last couple of days I'm starting to think whether we should reverse that to assume the status quo for tax rates," said Edward Perkin, Chief Equity Investment Officer at Eaton Vance.

U.S. House Speaker Paul Ryan said on Wednesday that Republicans were determined to keep pursuing tax reform, although such efforts could be seriously hampered. Democratic Representative Jim Himes, a member of the House Intelligence Committee, told MSNBC that the "legislative agenda...(was) lying in ruins."

Investors have become increasingly bearish on US equities versus international assets in recent weeks, pulling a total of $11.2 billion from U.S.-based domestic stock funds, according to Thomson Reuters Lipper data, and instead stampeding into U.S.-based stock funds that invest in Europe.

“We have been contemplating an increase in international stocks to kind of hedge our U.S. equity bet," said Phil Blancato, CEO of Ladenberg Thalmann Asset Management in New York. "So we are very much remodeling our portfolios."

A longshot worry is the uncertainty that could be presented if Trump is actually impeached by the U.S. Congress. A small but growing number of Trump's fellow Republicans called for an independent probe of possible collusion between his 2016 campaign and Russia, and one mentioned impeachment.

Investors said that was not necessarily a market negative, if Vice President Mike Pence were to take over.

"Policy wise it might not make such a difference," said Frances Hudson, Global Thematic Strategist at Standard Life Investments in Edinburgh.

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Money supply slightly increases www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ According to the report of the Bank of Mongolia (BoM), the money supply (broad money or M2) has reached MNT 12.4 trillion at the end of April 2017, showing an increase by MNT 220.9 billion or 1.8 percent from the previous month and by MNT 1,892.8 billion or 18.0 percent compared with the same period of 2016.
At the end of April 2017, the national currency in circulation reached MNT 843.2 billion, up by MNT 45.9 billion or 5.8 percent from the previous month and by MNT 89.1 billion or 12.0 percent compared to the same period of 2016.
The amount of outstanding loan amounted to MNT 12.7 trillion in the reference period. This is a growth by 0.2 percent against the previous month and by 9.2 percent compared to the same period of 2016. At the end of April 2017, the principals in arrears reached MNT 1,009.3 billion, indicating a decrease by MNT 14.2 billion or 1.4 percent from the previous month, up by MNT 98.0 billion or 10.8 percent from the same period of 2016.
The non-performing loans in the bank system reached MNT 1 087.3 billion, up by MNT 51.8 billion or 5.0 percent from the previous month, up by MNT 13.4 billion or 1.3 percent from the same period of 2016.In April 2017, 4.9 million pieces of securities worth of MNT 178.4 billion were traded on the national stock market, up by MNT 46.2 billion or 34.9 percent from the previous month and by MNT 131.8 billion which is 3.8 times more from the same period of the previous year. The traded share number increased by 2.0 million or 69.1 percent from the previous month and decreased by 5.3 million pieces or 52.3 percent compared with the same period of the previous year.
In April 2017, the Top 20 index of the financial market was 12999.6, increased by 320.5 units from previous month and 1979.7 units from the same period of 2016.
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IMF Executive Board to discuss Mongolia's request next Wednesday www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The International Monetary Fund Executive Board is scheduled to discuss Mongolia's request to implement Extended Fund Facility (EFF) during its meeting on May 24. Minister of Finance B.Choijilsuren was interviewed on this matter and other issues concerning the EFF program.
 
Has the meeting schedule of the IMF Executive Board been confirmed? Is there a guarantee that the meeting will not be delayed again?
 
Deputy Governor of Bank of Mongolia and I attended the spring meeting of Asian Development Bank on May 08, during which we met with relevant IMF officials and confirmed the meeting schedule.
 
Do initial agreements and funding remain the same? Would there be any change?
 
The total financing package within the EFF will be around USD5.5 billion. USD2.2 billion of it covers an extension of swap line of the People’s Bank of China with the Bank of Mongolia. IMF will provide loan of USD440 million with 15 year term. The loan will be less than 2 per cent interest and the loan principal will not be repaid over the first 5 years. The Asian Development Bank will grant a loan of USD900 million, of which USD600 million will be spent for recovering state budget deficit and USD300 million for funding programs and projects. The World Bank pledged USD600 million with less than 2 per cent interest and 15 year term and we agreed to spend USD440 million of it for recovering state budget deficit in 2017-2019. Japan and South Korea are expected to together provide loans of USD1.3 billion.
 
When programs and projects start to be implemented and when the funding is provided?
 
We will not implement it directly. Ministries are preparing feasibility studies of projects to use the loans. After completion of feasibility studies by second quarter of 2017 and in 2018-2019, the fundings will be disbursed.
 
A request to postpone the realization of increased excise tax on passenger vehicles has been submitted. Is it possible to accept the request?
 
An increase of 7 types of taxes in stages to raise budget revenue has been agreed in detail with IMF within the policy. Therefore, it cannot be changed by a group of people. IMF has 182 member countries and the Executive Board has 24 members. It is difficult to make all members understand our internal problems. Increased tax took effect from the beginning of this month. In connection to the excise tax increase, customs organization worked extended hours during the last working days of April and over 1000 hybrid cars were imported.
 
Concerning the EFF implementation, some people criticize that government has given the country’s economic freedom to foreigners. What is your comment on it?
 
The situation was very hard when the Government got its authority on July 30, 2016. Then, we asked assistance from IMF, which put its requirements to decrease budget deficit and create debt stability. We had no choice because, if we did not accept the IMF program, the economy would have been bankrupted. The EFF will have positive effects on the economy.
 
How fruitful was the Prime Minister’s visit to China or how much benefit will the economy get from the visit?
 
The Parliamentary Speaker visited China in autumn of 2016 and forwarded two requests; to increase the quota of our traditional export products in 2017-2018 and to give support by creating a market. During the Foreign Minister’s visit, China expressed its position to accept the requests and increased quota of coking coal and iron ore to be exported from Mongolia and their prices have grown up. The PM’s recent visit was a continuation and next step of this policy.
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