Mongolia Business and Mongolian Daily Business News

John Hill is the Principal Director for East Asia for the U.S. Under Secretary of Defense for Policy. Speaking at a forum hosted by the Asia Foundation in Mongolia’s capital, Ulaanbaatar, Mr. Hill noted that democracy took root in nations like Great Britain, France, Japan, Germany, and the United States only after centuries of evolution, which included violent conflict.

“So it is in this context of a long-term perspective that we should look at the progress Mongolia has already achieved in just a little more than twenty years of democratic government,” said Mr. Hill. “It is indeed a remarkable progress,” he said, “that reflects the free and independent spirit of Mongol culture over the millennia and a determination to protect that freedom and independence in a modern system of democratic government that provides the basis for economic development, that affords equal protection under the law, and that ensures the government serves the people by providing them the secure legal and social framework within which they can pursue their dreams.” Read the rest of this entry »

Sept. 13 (Bloomberg) — The European Bank for Reconstruction and Development plans to boost investment in Mongolia by almost 50 percent this year, in industries ranging from retail to mining.

The bank will increase spending in the Asian nation to 50 million euros ($70 million) this year, and forecasts another gain to 100 million euros in 2009, John Chomel-Doe, the bank’s director for Mongolia, said on Sept. 10 in Ulan Bator.

“This is a good demonstration of the potential Mongolia has for private-sector investments,” Chomel-Doe said during the Euromoney Mongolia Investment Forum. Read the rest of this entry »

LONDON. September 10. KAZINFORM. The EBRD’s Trade Facilitation Programme (TFP) has successfully extended its risk cover to Mongolia. The Bank’s first transaction under the programme in the country will facilitate imports of cars from Germany and covers 100 per cent of the payment risk of a letter of credit worth $600,000 issued by Khan Bank to BHF Bank in Germany.

Established in 1999, the Trade Facilitation Programme supports trade to, from and within the EBRD’s 29 countries of operations. TFP assists participating banks in building track records with their correspondent confirming banks, reducing cash collateral requirements and freeing up clients’ working capital by providing guarantees to confirming banks for the payment of various trade finance instruments issued by local banks. Read the rest of this entry »

ULAN BATOR, Sept 5 (Xinhua) — Mongolian and German leaders pledged here Friday to boost bilateral relations in various fields.

After Mongolian President Nambaryn Enkhbayar’s meeting with his German counterpart Horst Koehler, the two sides issued a joint statement, vowing to boost cooperation in the fields of politics, economy, culture, education, security and science.

Enkhbayar said that Germany was “the third neighbor country” to Mongolia. Mongolia hoped that Germany would invest more in the sectors of mining, infrastructure and agriculture.

Germany is willing to assist Mongolia in personnel training and the use of regenerative energy sources, Koehler said.

Mongolian Prime Minister Sanj Bayar also met with Koehler Friday. Read the rest of this entry »

Germany and Mongolia agreed on a comprehensive military partnership during a state visit by German President Horst Koehler to the Asian country.

Both countries said on Friday, Sept. 5, that they want to collaborate in the future on UN peacekeeping missions and agreed to regular meetings between their governments.

Mongolian President Nambaryn Enkhbayar said there would be a “new level” of relations with Germany that would further foster Mongolian-German cooperation.

Germany’s government is also interested in investing in Mongolia’s mining sector and sent a delegation there last month.

Mongolia, with a population of 2.6 million, is sandwiched between Russia and China and has large reserves of raw materials, such as copper, gold, uranium and coal.

Germany’s president is to travel next to China, where he is to take part in the opening of the Paralympics, the Olympic games for athletes with disabilities.

SOURCE: Deutsche Welle

Horst Koehler, President of Germany, arrived in Ulaanbaatar yesterday. During the visit, German and Mongolian presidents will sign “Declaration of high level collaboration”. Mr.Koehler also plans to meet with Mongolian youths, to discuss with German activists in Mongolia, and to get acquainted Mongolian traditional lifestyle of herdsman. Apparently, his most interesting schedule should be seeing “Small Naadam” celebration.

www.guardian.co.uk reports that,

By Lee Chyen Yee
BEIJING, Aug 13 (Reuters) – Mongolia’s Gundegmaa Otryad qualified for the women’s 25m pistol event on Wednesday taking a massive 3-point lead into the finals.
Otryad, 30, scored 291 of a possible 300 in the 30-shot precision segment before hitting a near-perfect 299 in the 30-shot rapid fire part for a total 590 that equalled an Olympic record set by China’s Tao Luna in Sydney in 2000.
Germany’s Munkhbayar Dorjsuren, who was born in Mongolia but became a German citizen in 2002, was second on 587. Read the rest of this entry »

Summertime is the season of visitors, travelers and foreign officials. We assume that a half million visitors would come to Mongolia this summer and high-ranking guests also visit Mongolia at this time. As for this year, Kuwaiti Emir is the first one of those guests. It’s likely he came to Mongolia to enjoy vacation, not at the invitation of the President. He had not met any politicians and state figures, even he came several days ago. It is said that he would meet the president and the Prime Minister at the beginning of next month. August tends to be showered by foreign visitors. H.E. Stjepan Mesic, President of Croatia is to visit Mongolia on the 2^nd of August, and H.E. N.A.Nazarbayev, President of Kazakhstan is to visit us as well.

New Zealand Governor is to visit us during mid-August and at the end of the month Frederik André Henrik Christian, Crown Prince of Denmark and Prince Albert of Monaco are visiting. After school starts Horst Koehler, President of Germany is to visit Mongolia to attend regular session of the Mongolia-Germany Forum. Prime Minister of Luxembourg is to visit Mongolia at the end of fall, Turkish and Slovak Foreign Ministers are coming on September.

www.sciam.com writes that,

By Klaus-Peter Schröder

So that you can prepare and not miss this event on the first day of August, here are a few tips for observing the partial solar eclipse that will be visible in Germany and most of Europe. Those of you who are able and willing to travel to Russia, Mongolia or northern China can view the more than two-minute-long totality and also see the sun’s corona and the moon’s deepest shadow (umbra).

In Germany and Europe, those who are unaware of or uncaring about this fairly rare event will probably not even notice it. The moon’s dark limb will achieve maximum partial coverage of the sun in northeastern Germany. Nevertheless, about 20 percent of the diameter of the sun will be in shadow over Berlin at around 11:32 Central European Summer Time (3:32 A.M. Eastern Standard Time); in Freiburg, in southern Germany, unfortunately, only about 6 percent. Read the rest of this entry »

In framework of consultative meeting between the Government of Mongolia and the Government of Federal Republic of Germany and negotiation on development policy cooperation in 2007, technical cooperation society of Germany launched a new project on “Confirming stable economic environment”. This project shall be implemented jointly by Ministry of justice and internal affairs, Supreme Court and State General Prosecutors Office, and the Government of FRG grants €2.5 million for project financing.
The goal of the project is to regulate market and political regularity through activities of court and legal organizations and legal policies. Read the rest of this entry »