Mongolian cashmere giant joins EBRD project www.news.mn

Mongolian cashmere giant the Gobi Company is implementing a project entitled ‘from Mongolian Herders to World Brand’ in cooperation with the Sustainable Fibre Alliance and the European Bank for Reconstruction and Development (EBRD). The project will last from 2019-2021 and aims at preventing land deterioration, protecting wild animals and developing a sustainable cashmere industry.

Central bank presents monetary policy stance for 2020 www.news.mn

Ulaanbaatar /MONTSAME/. On October 21, the Bank of Mongolia organized an open discussion on the monetary policy of Mongolia for the third year with a view to shed light on the formulation of the country’s monetary policy outline on the basis of macro-economic factors and basic economic indicators.

The discussion heard presentations by B.Bayardavaa, Director General of Monetary Policy Department of the central bank on ‘Economic forecast – Monetary Policy’, by N.Urgamalsuvd, Director of Monetary Policy Projection Department on ‘General guidelines of state monetary policy for 2020’. Also, Deputy Governor and officials of the Mongol Bank attended to deliver information on the given issues.

During the event, the Bank of Mongolia introduced general guidelines of state Monetary policy for 2020 where objectives for economic growth to pay close attention on potential risks and challenges to be faced during the next few years are reflected in it as well as solutions for maintaining economic stable growth. In addition, risk-taking capacity of the banking sector will be improved by applying Basel standard regulatory framework to the banking control and monitoring tools. Moreover, the Bank of Mongolia will be guided by a policy aimed at stabilizing the inflation next year and banking legal framework reform will be introduced to protect the customers’ rights.

As Mongolia’s economic growth is expected to remain solid next year, it is needed to ensure balance of external and internal sectors and implement most appropriate policy of exchange rate, according to the Bank of Mongolia.

In terms of factors having influence on the monetary policy, the central bank officials remarked the high percentage of imports in the production and consumption, inadequate foreign exchange reserves, necessity to decrease the burden of foreign debts, insufficiency of economic diversification, in particularly, over-dependence on mining, dependence in foreign environment and positive correlation between business and financial cycles. The state monetary policy for 2020 will be aimed at tackling these issues.

The country’s economic conditions prone to international economic shocks, which lead to economic and financial crises make it more difficult to stabilize the macro economy and prevent from crisis. B.Bayardavaa, Director General of Monetary Policy Department said exchange rates, budget and salary are main things that cause the monetary policy rate to grow and also noted that budgeted salary raise for next year will have a positive effect on the economic growth”.

Regardless of the country’s overall economic state, Deputy Governor B.Lkhagvasuren informed that there is no risk for domestic tugrug currency to weaken depending on some p[positive economic indicators, such as economic growth of 6.5 percent and foreign exchange reserve of USD 4 billion.

At the event, the Bank of Mongolia also presented about the Mongolia’s economic forecast projected by international financial companies, such as International Monetary Fund, Asian Development Bank, S&P and Fitch.

Mongolian startups present their business at Google Asia HQ in Singapore www.montsame.mn

Ulaanbaatar /MONTSAME/. 27 startup companies from Mongolia took part in the Mongolian Startup Showcase 2019 (MSS) event jointly organized by the Mongolian Embassy in Singapore and Mongolian START Company. Within the framework of the event, the Mongolian entrepreneurs presented their businesses on October 14 at the Google Asia Pacific Headquarters in Singapore.

China, Mongolia sign a military agreement www.politicallore.com

Chinese and Mongolian defence ministers signed a protocol and agreement to provide assistance to Mongolia, Akipress news agency reported. Both countries have already cooperated in the military and technical fields.

330 kV Ulaanbaatar-Mandalgobi transmission line commissioned www.montsame.mn

Dundgobi /MONTSAME/ The 330 kV power transmission line stretching for 250 km between Ulaanbaatar and Mandalgobi soum of Dundgobi aimag and two electric substations which have been built with a soft loan of USD 113.04 million from the Exim Bank of China and an investment of USD 5.95 million from the Government of Mongolia were commissioned and handed over on October 18.

Tetra Tech Awarded $30 Million Mongolia Water Supply Program Management Contract www.business.financialpost.com

PASADENA, Calif. — Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the government of Mongolia, through a Compact formed under the Millennium Challenge Corporation (MCC), awarded Tetra Tech a $30 million, seven year, single-award contract. Tetra Tech will provide program management services for a comprehensive water supply project in Mongolia to increase bulk water supply and meet future demand in Mongolia’s capital city, Ulaanbaatar.

MCC is assisting the government of Mongolia in addressing Ulaanbaatar’s water supply constraints with a project that includes installing new groundwater wells, an advanced water purification plant and a new wastewater recycling plant. As the Program Management Consultant, Tetra Tech will oversee and review detailed designs and environmental and social impact assessments, and provide planning, financial oversight, and program management services.

Under a previous MCC contract, Tetra Tech provided technical support services to the government of Mongolia to support innovative wastewater recycling and groundwater conservation projects. Tetra Tech evaluated the use of recycled wastewater at large combined heat and power plants (CHPs) in Ulaanbaatar and prepared impact assessments and feasibility studies. Tetra Tech also developed the process and design of a tertiary treatment wastewater recycling plant and connecting infrastructure to use recycled water at the CHPs.

“Tetra Tech is pleased to continue supporting MCC and the government of Mongolia in securing a safe and clean water supply for the people of Ulaanbaatar and supporting economic growth in Mongolia,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to using our expertise as a premier, high-end consulting, engineering, data analytics, and program management firm to support MCC’s innovative, evidenced-based work promoting stability and reducing poverty.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions (“Future Factors”), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section “Risk Factors” included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

Defense Minister of Mongolia visiting China www.montsame.mn

Ulaanbaatar /MONTSAME/. Minister of Defense N.Enkhbold is paying a working visit to the People’s Republic of China upon the invitation of Chinese Defense Minister Wei Fenghe and held official talks with the Chinese minister.

Mongolian PM to attend enthronement of Japanese Emperor www.news.mn

Mongolian Prime Minister U.Khurelsukh flew to Tokyo earlier today in order to represent Mongolia at the enthronement of Naruhito, Emperor of Japan. The ceremony will take place on 22-23 October.

President Kh.Battulga: Participation of scholars is crucial for policy on minerals www.montsame.mn

Ulaanbaatar /MONTSAME/. The celebratory conference on the occasion of the 80th anniversary of the establishment of the geology sector in Mongolia took place at the State House on October 18.

Norway’s $1 trillion fund builds Rio stake after dirty mine sold www.mining.com

After freezing out Rio Tinto Group for more than a decade for owning a highly polluting copper mine, one of the world’s biggest sovereign wealth funds has brought the company back into the fold.