Daily Business News Mongolia

Mongolian artists showcase native crafts

www.middletownjournal.com writes that,

By Eric Robinette
Staff Writer

Local residents will get a closer look at Middfest International’s featured country of Mongolia and how art in that country felt.

Mongolia is one of the leading feltmakers in the world, and two native artists will show off their craft over the weekend. Tuul Sanjdorj and Naraa Sambun will demonstrate the art of feltmaking from 10 a.m. to noon Friday, Aug. 1, at the Middletown Arts Center at 130 N. Verity Parkway and from 6 to 9 p.m. at the Mongolian Grill in Mason, at 8655 Mason-Montgomery Road, also on Friday.

“This is the kind of pre-event activity that Middfest does to educate the public on the featured country,” said Christina Papakirk, the publicists for Middfest. (more…)

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Frontiers of Freedom Urges Secretary Rice and Ambassadors Danilovich and Minton to Defend Free Enterprise in Mongolia

foxbusiness.com writes that,

FAIRFAX, Va., July 25, 2008 /PRNewswire-USNewswire via COMTEX/ —-Recently, Frontiers of Freedom urged Secretary of State Condoleezza Rice, Millennium Challenge Corporation CEO John Danilovich and U.S. Ambassador to Mongolia Mark Minton to encourage the Mongolian government to support democracy, rule of law, and free markets.

The Mongolian government has begun to violate the rights of businesses in the mining sector in an attempt to nationalize resources belonging to privately held companies, resorting to confiscation of private property and the levying of crippling taxes. Despite this, the country continues to receive hundreds of millions of dollars in aid through the taxpayer-funded Millennium Challenge Corporation. (more…)

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New Central Library is to be Constructed

New central Library worth USD 20 million and met to-date requirements is to be built in front of U.S. Embassy. During the visit of the President of Mongolia N.Enhbayar to Kuwait, this money was promised to be contributed as aid by Kuwait Government to Mongolia. Director of the Library G.Akim says, “No major repairs were done for the Library since its launch in 1951 to protect the funds. Construction draft of the library is under formulation and the ceremony for laying foundation for new Library with modern design shall be held on June 13.

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MCA Starts Operating on July

Governing Board of the Millennium Challenge Corporation (MCC) approved the general agreement proposal of USD 285 million to be concluded with the Government of Mongolia in order to eradicate poverty through economic growth. The agreement focused on four main sectors such as railways, ownership, professional education and health and especially on key support of Mongolia’s economic development, including efficient network of railways operation and improvement of capacities.

With reference to the establishment of MCA in Mongolia, Robert Reed, Representative of MCC of the United States and N.Bayarbaatar, Executive Director of MCA of Mongolia held a meeting with journalists and introduced on the Account. Established on January, MCA elected its Governing Board and is into the preparation of operation. (more…)

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North Americans’ Attitude to the Mongolian Minerals Law

North American-Mongolian business meeting organized in Calgary of Canada last week. Mr. L.Gotov, Mongolian ambassador to Canada, and L.Bold, Head of Minerals and Oil Authority of Mongolia, has participated from the Mongolian side. Also they gave a speech on Mongolia-Canada bilateral relationship, latest mining issues, and oil. Moreover, officials of Mongolian embassy in the USA, Canada, honorary consuls, and approximately 40 business representatives of Rio Tinto, Centerra Gold, Pan-Asia-Petroleum, Ivanhoe Mines, has attended.
Today, almost 20 Canadian companies invested amount of 395 million dollar in Mongolia. That means Canadians held 2nd place after China. During the meeting, bottom line was legal environment of Mongolian mining sector. (more…)

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Mongolian Ambassador Presents His Credentials to the President Bush

On 8 April, 2008, His Excellency Kh.Bekhbat, newly appointed Mongolian Ambassador to the USA presented his credentials to President George Bush, marking the beginning of his mission as Mongolian Ambassador to the United States.

During the meeting with Ambassador in Oval Office, president Bush stated, “the agreement on Millenium Challenge Account, which signed in last year, and other USAID programs in Mongolia mean our support for Mongolian Democracy and Freedom.”     

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American Taxpayers Call on President Bush to Protect Western Interests in Mongolia

Nearly 35,000 Letters Sent to President Bush Expressing Concern about Backsliding on the Rule of Law, Infringement of American Property Rights and Increased Corruption

ALEXANDRIA, Va., April 2, 2008 /PRNewswire-USNewswire/ — Today, the Center for Individual Freedom (CFIF) announced that its supporters have sent nearly 35,000 letters to President Bush and Administration officials, asking that they reconsider foreign aid to Mongolia in response to government-sanctioned expropriation of Western interests there. (more…)

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Mongolian Economic Development Lacks Good Management

According to the World Bank, economic growth in developing East Asia would drop down by 1-2 percent, reaching 8.5 percent approximately. “This change is related to the worldwide slow-down outcome, resulted by fiscal crisis in USA. In recent years, East Asia, especially China has become the supportive ground for the world economic growth, which maintains equilibrium of industrial countries of which growth has slowed down. In addition to it, East Asian countries, not depending upon US import decline and instability in the world financial market, maintain economic stability from 2007 to the commencement of 2008. (more…)

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Donald Kerry: This Draft Might Scare Investors Off

With relevance to draft law on amendments to minerals law, we got views of Mr. Donald Kerry, Staff of C-consultancy LLC of the United States who came for research in mining sector of Mongolia at the request of Barrick Gold Corporation, one of mining giants in the world.

You’ve mentioned that you undertake research in mining sector of Mongolia. Could please give us some detail on it?

It is good that world companies are interested in investing in Mongolian mining sector. One of them is the Barrick Gold operation in your country. I’ve just happened on the time to make amendments to the minerals law. We are studying Mongolia’s legal environment. As for me, I carry out researches only. (more…)

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Director General of the U.S. Foreign Service Visits Mongolia

U.S. Embassy Press Release
March 19, 2008

Ambassador Harry K. Thomas, Jr., the Director General of the U.S. Foreign Service, visited Mongolia March 18-19. Ambassador Thomas is the top State Department official for human resources, and met with Mongolian and American staff and family members at U.S. Embassy Ulaanbaatar.

He called on State Secretary for Foreign Affairs Bekhbat, and the two talked about comparative personnel systems and training. Ambassador Thomas exchanged views on U.S.-Mongolia relations with the Foreign Policy Advisors to the President and Prime Minister and the Foreign Ministry’s Deputy Director General for the Americas, Africa, and Middle East.

This was the first visit of a Director General to Mongolia.

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