Daily Business News Mongolia

Mongolia kicks off parliamentary election

China Daily writes that:

ULAN BATOR - Mongolians went to the polling stations Sunday morning across the country to elect new members of the nation’s parliament - the State Great Hural.
Starting from 7 a.m. local time (2300 GMT), the polling stations opened for people to cast their votes to elect 76 members of parliament.
The election has registered 311 candidates nominated from 11 parties and one coalition, as well as 45 independent candidates. The new parliament members will serve a four-year term. (more…)

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Mongolians go to polls as mining deals eyed

Reuters reports that:

By Lindsay Beck

ULAN BATOR (Reuters) - On horseback, foot and motorcycle, Mongolians cast their ballots on Sunday in a tight race that will see the election of a government tasked with fighting inflation and tapping into huge mineral wealth.
A poll showed the ruling Mongolian People’s Revolutionary Party (MPRP) with a slight edge over the Democratic Party, but if neither wins a majority in the 76-seat parliament, or Great Hural, the smaller parties on the ballot could be the real power-brokers.
“Are you going to ask me who I voted for?” Prime Minister Sanjaagiin Bayar joked as he cast his ballot in the capital.
The last election four years ago resulted in a hung parliament, leaving the parties to scramble to form a government to rule the landlocked country of less than 3 million, whose empire under Genghis Khan once extended west as far as Hungary. (more…)

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It is Possible to Give 1 Million and Even 1.5 Million

Prime Minister S.Bayar worked in Khubsgul province during 6th and 7th of this month. After getting acquainted with activities of province administration and government agencies, Prime Minister team held meeting with civil representatives of the province, and worked in Shine-Ider and Jargalant soums. Investment amount made to the province increased dramatically and people are happy with a lot of social and economic activities.
In 2008, construction work of MNT 1.4 billion in province and MNT 218 million in soums will be distributed. Almost everyone asked about MNT 1 million to be provided by DP clarifying if it was a real promise. Prime Minister replied that not MNT 1 million but also MNT 1.5 million could be provided but fundaments must be created. “The most important priority was to modify the Minerals Law. (more…)

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Minerals Law is Kept for Next Parliament

Yesterday, Spring Parliament session has been temporarily paused. Temporary means that the parliament will gather after election and close the session officially. Majority of this parliament is to run for election 2008. The term for election campaign and promotion starts officially as well and allowing opportunities for Parliamentarians to run their election campaign, Speaker Lundeejantsan informed. He summed the activity, “Multi-party representatives operated in consistency.”
Spring session of the Parliament ratified 12 legislations, 29 resolutions and modified 38 laws such as land ownership law, criminal law and revised edition of tax law and tax exemption law. Also election date was announced and expense amount was estimated. (more…)

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MPRP and DP Members Contend

There were several issues to discuss at the Budget Standing Committee yesterday, however the meeting became ineffective due to contending of members of MPRP and DP. At first, DP members rejected to discuss a draft law on Grant of the Nation Fund. They said, “There is no need to make a show to give everyone MNT 50 thousand while Minister of Finance said the fund resource for Grant of the Nation was not clear. Let’s postpone it.” In turn MPRP boycotted, rejecting to discuss a draft law on nullifying some provisions of the law on taxation of price increase of some products. This is the draft law on not imposing 68 percent tax on gold. The Government had initiated the draft law however MPRP members postponed it because DP members were against gold windfall tax at the first time.

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Democratic Party Confirms Its Independent Participation in Election

National Consultative Committee is to be re-held on 25 May

The XXIV regular session of NCC of DP started its operation at 10.50 last Saturday with attendees of 80 percent out of 230 members. This session has been held close since it was related to the election. At the beginning of the Session, prerogative rights of 12 persons, won the re-election in NCC have been confirmed.
At the end of this month parties and coalitions must be registered at GEC. Thus next issue discussed at the session was all about it. NCC members confirmed that DP should take part in the election independently. In the Afternoon, Ts.Elbegdorj, DP Leader introduced and had approved his action program-10 right policies of DP for the election. Members think that the action program is the concise and precise yet lively in comparison to the MPRP action program. (more…)

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B.Erdenesuren(MPRP): We Agreed Because Percentile per the Public was High

MPRP group in the Parliament discussed the draft law on modifications to the Minerals Law of Mongolia during the Group Meeting. We got details on the meeting from Deputy Chairman of the group, B.Erdenesuren.

What issues did you discuss during the Group Meeting?
We discussed what the position of the Group would be at the first discussion of the draft law on modifications to the Minerals law of Mongolia which was initiated and submitted by MP Z.Enkhbold and E.Bat-Uul. Members expressed different positions and opinions on it. Some tend to criticize that only product-sharing is not the important thing and power was granted to the Government before the percentile became clear. (more…)

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Draft law Is To Be Modified During Discussion

Yesterday, Parliamentary Economic Standing Committee decided whether to discuss draft law on modifications to Minerals law. Since the draft law had been criticized before it went to discussion, the working group had modified and adjusted the draft again. However, the standing committee shall decide whether to discuss the draft law, submitted to the parliament, in accordance with legislations and discuss opinions proposed by the working group and supported by MPRP and DP groups.
Modified version of the draft law says the Government shall take 51 percent or more and foreigners get not more than 49 percent of strategic deposits not considering whether explorations are carried out by state or public assets. (more…)

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