Mongolia Business and Mongolian Daily Business News

Mongolia expects to welcome half a million tourists this year and Ministry of Environment and Tourism is working together with the tourist camps operators to achieve this target during this summer. Their policy is to attract group of tourists rather than individuals says the representatives of the Ministry. They are working closely to improve and develop the standards of the tourist camps as this is their main priority this year. Another policy to increase the number of visitors annually is to implement improved tourist guides and programmes to attract group of tourists. Statistics shows that most tourists come from China and Russia. Read the rest of this entry »

Red Hill Energy of Canada will extract coals from north of Mongolia. They agreed to transport the coals with Nakhodka port in Primorks of Russia. They are planning to involve Russian and Chinese experts to decrease their costs. Minarco-Mine-Consult of Australia said that the Ulaan-Ovoo coal mine has 208 million tonnes of coal reserve. This mine is planned to be used for about 21 years and the constructions are starting to be built from this year. The coal will be ready to extract in the year 2011. Mining license given from the Mongolian government is for 30 years and can be extended up to 40 years. In order the speed up the process they are to use Russian and Chinese technology and also to hire experts. Read the rest of this entry »

Red Hill Energy announced that it will authorize the construction of a USD 250 million project at its Ulaan Ovoo coal site. This follows the release of a pre-feasibility study at Ulaan Ovoo indicating there are some 208 million tones of coal available for mining and shipment to the Port of Nadhodka on the Russian eastern seaboard.

Officials said that infrastructure construction at the site should begin in the latter half of 2009 with mining and the sale of coal to begin in 2011. Read the rest of this entry »

AIDS first recorded in Mongolia in 1996 and reached 46 as of September 8, 2008. Mostly reproductive age generation is committed to HIV/AIDS. Mongolia is listed among countries where HIV occurrence is low, however it has high risk. Unemployment, poverty and migration among the population are high. AIDS occurrences do not fall down because Mongols visit to China and Russia where occurrence number goes up.

In order to assess these complex issues in the Asia Pacific region, the second regional consultative meeting on universal access to HIV prevention, treatment, care and support took place in Manila 26-28 August 2008. Ten Mongolian scientists participated in the meeting. They are going to mobilize related ministries in order to keep the fund adequate for HIV/AIDS prevention and protection. Also they discussed to insert diagnosis and treat HIV/AIDS without any charges in the curriculum of secondary education institutions.

At a training centre west of Ulan Bator, troops from Mongolia, the US and a host of other nations are taking part in the Khaan Quest 2008 military exercises.

Over a three-week period, almost 500 soldiers and military representatives from around the world will participate in drills aimed at improving multinational peacekeeping operations.

Two hundred and twenty of the troops are Mongolian and another 100 are from the US. Representatives from Thailand, Nepal, France and India are also taking part. Read the rest of this entry »

IRKUTSK, September 9 (Itar-Tass) – The 5th Baikal Economic Forum (BEF) that opens here on Tuesday is held under the motto “Europe-Russia-Asia-Pacific Region: Roads of Integration and Cooperation”.
An official at the BEF organising committee has specified that the meeting of the political, business and scientific elites on the shores of Lake Baikal will be dedicated to the development of this country’s eastern territories and removal of economic development imbalances between Russia’s west and east.

It is planned to discuss the role of Siberia and the Far East in the socio-economic development of the entire country, the competitive advantages of Siberia’s potential, the development of Russia’s transportation system for eastern regions and a rise in transport accessibility to the population. Read the rest of this entry »

MUMBAI (Thomson Financial) – Fitch Ratings said capital inflows to Asia have started slowing down given the heightened risk aversion of global investors and the deteriorating economic fundamentals of the region along with the global economy.

Fitch said although first quarter 2008 data suggests the region continues enjoying strong net FDI inflows and is still receiving cross-border loans from international banks, foreign purchases into local equity markets have already recorded net withdrawals, while international issuances of debt securities seem to have slowed down.

During the first quarter, among capital importers in the region, the major support came from China, India and Singapore, while net FDI inflows remained stable for Mongolia, Thailand, Indonesia and the Philippines. Read the rest of this entry »

CHANGCHUN, Sept. 2 (Xinhua) — Vice Premier Wang Qishan told a forum here on Tuesday that China was willing to strengthen energy, trade and investment cooperation, and push forward regional logistics development with other countries in northeast Asia.

“China will make concerted efforts with other countries in this region to further lower trade barriers and boost investment in infrastructure, high technology, agriculture and modern service industries,” he added.

Top officials from China and other northeast Asian countries said that they would strive for joint regional development at the Second High-Level Forum on Northeast Asia Economic and Trade Cooperation.

The forum is a part of the ongoing Fourth Northeast Asia Investment and Trade Expo held here in the capital of northeastern Jilin Province. Read the rest of this entry »

Recently, Chinese Hong Kong-based company’s website www.sdcc.com posted a map that shows Mongolia as a part of China. The Ministry of Foreign Affairs of Mongolia addressed the Embassy of the People’s Repiblic of China to Mongolia requesting to determine and explain this matter.
The Chinese Embassy in Ulaanbaatar made a contact with this Chinese company and got an information that this map is a part of the Taiwan-made world map. The Embassy of the People’s Republic of China in Mongolia clarified this matter through its Ministry of Foreign Affairs and informed that will have that company make corrections.
The Embassy of China in Ulaanbaatar officially announced that the map-related issue is not a position of the People’s Republic of China.

The Summit of the Shanghai Cooperation Organization is continuing in Dushanbe, Tajikistan.
President of Russia, Tajikistan, Kyrgyz Republic, Kazakhstan, China and Uzbekistan attended the session of the Council of heads of states of the SCO member states. Representatives of observer states – India, Iran, Mongolia and Pakistan – and honourable guests joined them later.

The participants of the summit discussed perspectives of development of trade-economic cooperation and humanitarian partnership, issues on combating terrorism, drug trafficking and transnational crime, political and legal aspects of the SCO expansion.

On the result of the session, several documents on cooperation within the framework of the SCO, joint communiqué and Dushanbe declaration was signed.

Dushanbe declaration included separate point on South Ossetia. The SCO member states expressed their concern and supported the role of Russia in peace-keeping and cooperation in the region.

SOURCE: www.uzreport.com