"Doing business with UK" Seminar was held in Ulaanbaatar www.mongolianbusinessdatabase.com

The 9th "MBD:B2B networking" seminar, "Doing Business with UK", was held successfully at the International Commercial Center in Ulaanbaatar on June 13 with support of the British Embassy in Mongolia and Trade & Development Company of UK.

Mongolia's foreign trade up 10.2 pct in Jan.-May www.xinhuanet.com

ULAN BATOR, June 12 (Xinhua) -- Mongolia's foreign trade of goods rose 10.2 percent year on year in the first five months of this year, amounting to 5.58 billion U.S. dollars, official data showed Wednesday.

Trade turnover reaches USD 5.6 billion as of May www.zgm.mn

Mongolia traded with 135 countries and the total trade turnover reached USD 5.6 billion, of which USD 3.3 billion were exports and USD 2.3 billion were imports. In May 2019, exports and imports reached USD 751.4 million and USD 548.8 million, respectively. Compared to the previous month, exports and imports increased by USD 11.1 million and USD 68.3 million, respectively.

Exports of mineral products, textiles, and textile articles, natural or cultured stones, precious metals jewelry make up to 96.6 percent of total exports. On the other hand, 68.9 percent of imports are mineral products, machinery, equipment, electric appliances, transport vehicle, and its spare parts and food products.

In May 2019, consumer price index increased by 7.9 percent from the same period of previous year, which was mainly contributed by increases in prices of food and non-alcoholic beverages group by 11.3 percent, alcoholic beverages and tobacco group by 4 percent, transport by 5.2 percent, housing, water, electricity and fuels group by 9 percent (electricity, gas and other fuels by 10.6 percent), and health by 9.5 percent.

At the end of May 2019, the amount of outstanding loan to entities, enterprises, and citizens amounted to MNT 18 trillion, increased by MNT 314.1 billion from the previous month and by MNT 3 trillion from the same period of the previous year.

In the first five months of 2019, 342.8 million units of securities worth MNT 86.5 billion were traded at the stock market, which is an increase of by MNT 21 billion or 32 percent compared to the same period of last year. The number of traded securities decreased by 7 million units.

Trades of government bonds in secondary markets amounted to MNT 26.1 billion in the first five months of 2019, which is lower by 482.5 million compared to the same period of 2018. In April 2019, MNT 1 billion worth of government bond was traded at the secondary market, while MNT 2.1 billion worth of government bond was traded at the secondary market in May 2019.

In the first five months of 2019, total equilibrated revenue and grants of the General Government Budget amounted to MNT 4 trillion and total expenditure and net lending amounted to MNT 3.8 trillion, resulting in a surplus of MNT 146.1 billion in the equilibrated balance.

General Government budget revenue was comprised of 81.5 percent of tax revenue, 8.3 percent of non-tax revenue, 9.6 percent of the future heritage fund and 0.6 percent of the stabilization fund. General Government Budget expenditure and net lending were comprised of 84.2 percent of current expenditure, 13.8 percent of capital expenditure and 2.1 percent of net lending.

In the reporting period of 2019, current and capital account balance deficit by preliminary result reached to USD 396.6 million, increased by USD 6 million compared to the same period of last year.

The Bank of Mongolia (BoM) has also reported that investment in mining declined from the previous year in the first quarter of 2019. It was dropped 16 percent to USD 443 million.

Sharp : Builds Mega Solar Plant near New Ulaanbaatar International Airport, Mongolia www.marketscreener.com

Sharp Energy Solutions Corporation (SESJ)*1 announces the completion of a mega solar power plant in Khushight Khundii, Sergelen district, Tuv province, Mongolia with partners including renewable energy company Sermsang Power Corporation*2 and Tenuun Gerel Construction LLC*3.

The power plant is located approximately 14 km southwest of the New Ulaanbaatar International Airport, which is currently under construction. Plans are to supply the electricity generated by the power plant to the central grid system which connected also capital of Ulaanbaatar and the new airport. In general, the longer the distance between a power plant and the facilities it is supplying, the greater the electricity loss. However, this new power plant will be able to efficiently supply electricity to the new airport and urban parts of Ulaanbaatar, areas predicted to see rising electricity consumption.

This power plant was constructed after selection as one of the Joint Crediting Mechanism (JCM) Model Projects*4 financially supported by the Ministry of the Environment, Japan.

The project is implementing under the cooperation between the Government of Mongolia and Japan. The 16.4 MW-dc solar power plant will generate 23,134 MWh per year, thus allowing reduction of greenhouse gas (GHG) emissions of 18,438 t-CO2 per year.

Mongolia's government aims to have renewable energy account for 30% of the country's energy mix by 2030, representing a 14% drop in greenhouse gas emissions compared to a BAU*5 scenario. Sharp remains committed to spreading the use of renewable energy in Mongolia.

Country

Mongolia

Location

Khushight Khundii, Sergelen district, Tuv province

Output (module capacity)

Approx. 16.4 MW-dc

Annual power generation capacity (estimate)

Approx. 23,134 MWh/year

Avoided greenhouse gas emissions (estimate)

Approx. 18,438 t-CO2/year

Start of operation

Mid June 2019

*1 SESJ is a subsidiary of Sharp Corporation, specializing in energy solutions such as the sales of PV systems and the installation of electrical equipment.
Headquarters: Yao, Osaka Prefecture; President: Hiroshi Sasaoka

*2 Sermsang Power Corporation invests, develops, and operates renewable energy projects currently in Thailand, Japan, Mongolia, Vietnam, with over 200 equity MW.
Headquarters: Bangkok, Thailand; CEO: Varut Tummavaranukub

*3 Tenuun Gerel Construction's main business is developing and operating solar power plants.
Headquarters: Ulaanbaatar, Mongolia; Representative: Odbaatar Sukhbaatar

*4 Ministry of the Environment, Japan has been implementing the 'JCM Model Projects,' which provides financial supports covering up to half of the initial investment costs. The purpose of this model projects is to financially support the implementation of projects which reduce GHG emissions by utilizing leading low carbon technologies in developing countries, and in return, to acquire JCM credits for achievement of Japan's GHG emission reduction and the partner countries emission reduction target.

*5 BAU (business as usual) means projections of greenhouse gas emissions based on the energy mix up to the present.

Presidents of Kyrgyzstan and Mongolia sign number of documents www.24.kg

A number of documents were signed following the meeting of the Presidents of Kyrgyzstan Sooronbai Jeenbekov and Mongolia Khaltmaagiin Battulga, which was held during his official visit to the Kyrgyz Republic. Press service of the Head of the Kyrgyz Republic reported.

Sooronbai Jeenbekov stressed the need to develop bilateral cooperation in trade, economic, cultural and humanitarian spheres. «We are working on the issue of opening a diplomatic mission in Mongolia. In the near future, we plan to open an Honorary Consulate in Ulaanbaatar,» he said.

In order to enhance trade and economic cooperation, Sooronbai Jeenbekov proposed to hold a business forum within the framework of the Kyrgyz-Mongolian Intergovernmental Commission.

The President expressed his interest in studying the Mongolian experience in the mining industry, exchange of views on the effective management and use of natural resources and digitization of the activities of state bodies, in joint work in the field of history and archeology.
«Our countries have a cultural similarity, common nomadic history. In addition, Kyrgyzstan and Mongolia are included in the habitat of the snow leopard. It is important to continue work on the preservation of snow leopards and their fragile habitat,» the head of state said.

«As far as I know, ethnic Kyrgyz live in Bayan-Ulgiy aimak. We are interested in attracting representatives of academia to conduct research in this area. I am sure that with further study of this issue, we will find more points of contact, as well as other information uniting our history,» Sooronbai Jeenbekov stressed.

The following documents were signed:

Agreement between the Government of the Kyrgyz Republic and the Government of Mongolia on cooperation in the fight against terrorism;
Agreement between the Government of Mongolia and the Government of the Kyrgyz Republic on cooperation in the military field;
Protocol on cooperation between the Secretariat of the Security Council of the Kyrgyz Republic and the Secretariat of the National Security of Mongolia;
Memorandum of Understanding between the Ministry of Education of the Kyrgyz Republic and the Ministry of Education, Culture, Sports and Science of Mongolia;
Memorandum between the Ministry of Culture, Information and Tourism of the Kyrgyz Republic and the Ministry of Culture, Tourism and Sports of Mongolia on cooperation in the field of tourism;
Agreement on cooperation in the field of protection of intellectual property rights and traditional knowledge between the State Intellectual Property and Innovations Service under the Government of the Kyrgyz Republic and the Intellectual Property Agency of Mongolia;
Memorandum on trade, economic, cultural and humanitarian cooperation between Issyk-Kul region of the Kyrgyz Republic and Uvs aimak of Mongolia;
Memorandum of Cooperation between the State Registration Service under the Government of the Kyrgyz Republic and the General Archival Authority of Mongolia;
Memorandum of Understanding between the National Academy of Sciences of the Kyrgyz Republic and the Academy of Sciences of Mongolia.

Online system for budget investment launches www.montsame.mn

Ulaanbaatar /MONTSAME/ The Ministry of Finance in collaboration with the World Bank developed an online system for state budget investment management. The system is available on publicinvestment.gov.mn website and smartphone app.

Cabinet issues permit of railway infrastructure construction www.montsame.mn

Ulaanbaatar /MONTSAME/ At its regular meeting on June 12, the Cabinet issued a permit of basic infrastructure construction of railroad in route Tavantolgoi-Zuunbayan to ‘Mongolian Railway’ state-owned shareholding company and obliged corresponding Ministers and governors of the aimags to promptly give permits of constructional works of power transmission line, signal, railway stations, and junctions in accordance with relevant regulations.

Making the deadly UB-Darkhan highway safe www.news.mn

The modernisation of the highway connecting Ulaanbaatar, the capital city of Mongolia, to Darkhan, a city near the Russian border, has just begun. The Asian Development Bank and the European Bank for Reconstruction and Development (EBRD) have financed a total of USD 83.8 million loans for the renovation of the deadliest road in Mongolia. The road will be renovated with four-lanes and concrete surfaces in accordance with international standards. However, only two-lanes of the road will be constructed by the end of the 2019 warm-weather window, said officials. Originally, it is planned to fully open the four-lane road on 25 December, 2019.

Cooperative technical and vocational education and training project launched www.montsame.mn

Ulaanbaatar/MONTSAME/. The Cooperative Technical and Vocational Education and Training /cTVET/ project’s launch event was held on June 10 at the Ministry of Labour and Social Protection of Mongolia.

Mongolia, Lithuania sign road transport agreement www.akipress.com

State Secretary of the Ministry of Road and Transport Development Batbold Sandagdorj and Vice-Minister of Transport and Communications of Lithuania Ričardas Degutis on June 10 signed an agreement betwen the two countries on international transport of passengers and goods by road, Montsame reported.