Mongolia business news, articles, reviews and much more…
On October 8, the Japanese delegates, led by Japanese Deputy Minister Huroyuki Ishige, will visit Mongolia. According to “ITAR-TASS” agency of Russian Federation, the Japanese delegates are interested in the law environment to take part in the uranium exploration industry. Japan is planning to several nuclear power station and this urges it to be interested in uranium commodity. (more…)
The Government of Mongolia inserted the revoke of tax on gas and fuel. The tax was canceled, because of the increase of crude oil price in the world market. The Government of Mongolia presented the draft amendment law Special Tax Law, increasing Special Tax rate twofold, and the draft law on budget modification to the State Great Khural, in order to decrease the air pollution, traffic in the city and increase the budget income. Tax on gas and fuel will be imposed on starting from October 15 2008, due to the decrease of crude oil in the world market.
His Excellency the Speaker of the State Great Khural and Member of Parliament!
Here I present you the draft modification to the Mongolian State Budget of year 2008 in order to provide the implementation of the laws and resolutions of the State Great Khural and the Government of Mongolia, to calculate the fixed expense of the state entities, fund the most necessary investments, since the adoption of the state budget of year 2008.
As for the first 8 months of the Mongolian State Budget, the total income was 1 trillion 405 billion and one million MNT and total expenditure was 1 trillion 401 billion 8 million MNT. The state budget balance was positive with 3.6 billion MNT. But the state budget income was 895.8 billion MNT and expense was 1 trillion 73 billion 8 million MNT and the state budget balance has deficiency of 178.0 billion MNT. After the approval of budget law of year 2008, the tax waver laws and resolution were adopted and it was the main reason of the decrease of budget income. Also the construction of Oyu Tolgoi and Tavan Tolgoi mines was planned to be commenced this year, but it was postponed and leading to cancelation of state budget income of 90.3 billion MNT. (more…)
The decrease of copper commodity price is the main reason to shrink the budget of year 2009.
The first discussion was made on the state budget during the last Wednesday session of the State Great Khural. The Cabinet Ministers were invited to the session. Prime Minister S.Bayar provided speech at the beginning of the session. He stated the necessity of the policy to shrink the budget in order to harness the inflation, to modify the state budget and decelerate the increase of price in various services and products. (more…)
Today the State Great Khural will discuss about the compensation for goat. Cashmere price is decreased and it will affect living of herders. Therefore, the State Great Khural the resolution to buy with 30-32 thousand MNT for 1 kilo cashmere, was adopted in May 2008. The cashmere buying 10 billion Fund is allocated at the Trade and Development Bank of Mongolia. Unfortunately, no companies wanted to buy cashmere over 30 thousand MNT and this plan was stopped. (more…)
The draft resolution to distribute money for the goat herders as the difference of the cashmere price subsidy, during the Budget Standing Committee Meeting of the State Great Khural. But new MPs didn’t like the draft resolution of the previous MPs which was the election “show”.
As B.Dolgor, the Head of the Cabinet Secretariat, presented, 10 billion MNT from the Mongolia Development Fund to buy discounted cashmere wool from herders and select three cashmere producing factories out of 10 factories to distribute 8 billion MNT. But any factory took loan to buy cashmere. Basically, in the draft resolution, the Government of Mongolia is planned to allocate 30.5 billion MNT from the Mongolia Development Fund, literally 5000 MNT per each goat. But the situation is critical now. Price of 1 kilo dehaired cashmere was decreased from 70US$ to 60US$ in the foreign market. (more…)
“Mongolian Millennium Challenge Foundation” plans to spend 189 million US$ for “Mongolian Railway Innovation Project”. It is 66.3% of the total budget that was allocated for the “Millennium Challenge Foundation” from “Millennium Challenge Corporation” of USA. The main purpose of the project is to innovate the locomotive park and communication and signalization system, to purchase load carriage wagon, supply of new equipment of road repair and strengthening capacity. (more…)
By Yang Jung A
It has been only recently been revealed that President Lee Myung Bak shortly after being inaugurated, ordered a review of possible construction of refugee camps in the regions of countries such as Thailand and Mongolia where a fair amount of defectors reside. He also ordered more effort to be put in to international negotiations in order to have defectors recognized as refugees in foreign countries.
According to “presidential order list” documents received by Assemblyman Hong Jung Wook of the Grand National Party from the Ministry of Unification on the 30th, President Lee ordered last March 26th to “negotiate with countries that defectors are residing in, such as Mongolia and Russia, regarding the possibility of constructing refugee districts if China remains unrecognizing of the defectors as political refugees”. (more…)
1958 Born in Ulaangom city, Uvs aimag.
Education:
1976-1981 National University of Mongolia, occupation: bio-physician and teacher of physics.
1982-1984 Evening course of English at the National University of Mongolia
1992-1993 Administration Development Institute, majoring in State Administration.
Upgraded his education in State University of Moscow and Humboldt University in bio-physics and Germany in party leadership.
Language: Mongolian, English, Russian (more…)
1956 born in Malchin soum, Uvs province
Education:
1975 Secondary School of Uvs province
1981 State University of Leningrad
Lawyer
Languages: Mongolian and Russian (more…)
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