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AmCham Mongolia Daily Newswire

November 19, 2018

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MPP rejects President Battulga's state budget veto
The Mongolian People’s Party(MPP) Caucus in Parliament met on Friday to discuss  President Battulga’s full veto of the 2019 state budget and stated that they reject the veto. Members of Parliament  J. Erdenebat and G. Zandanshatar said that the president should veto specific parts of the budget, if necessary, and should give valid reasons for a veto. They noted that they are willing to cooperate with the president on addressing Mongolia's social and economic issues. Member of Parliament D. Oyunkhorol noted that the 2019 state budget's expenditures didn’t increase compared to last year. 

The National Post /page 2/
Erdene Resource Development Corporation  releases its Q3’18 report
Erdene Resource Development Corporation, registered on the Toronto and Mongolian stock exchanges, published its financial and operational report on the third quarter of 2018. The company’s drilling expenses decreased by 42 percent (4.8 million CAD), business administration expenses decreased by 17 percent, and the net deficit decreased by 14.7 percent (2.9 million CAD). The company's recently reported that they have the largest proprietary geologic database in southwest Mongolia, including 22 high-priority targets. 

Today /page B1/
AmCham Mongolia holds its 2018 Annual General Meeting
The American Chamber of Commerce in Mongolia (AmCham Mongolia) held its Annual General Meeting (AGM) on Friday, November 16, 2018, hosting the Chargé d’affaires of the U.S. Embassy, Manuel P. Micaller, and over 50 AmCham members and leaders from the business community.

During the AGM, AmCham members elected several new members of the Board of Directors: Mr. David Reiner, Board Member of MSM Group; Ms. Enkhtsetseg Damdinsuren, Vice President at MCS Holding; Mr. Gary Biondo, Chairman of the Board of Trustees of International School of Ulaanbaatar; Mr. Jay Liotta, Partner at Mahoney Liotta LLP; Mr. John Bell, CEO of Khan Bank; Ms. Maryna Tarnavska, Senior Manager at PwC Mongolia; and Ms. Sunjidmaa Jamba, General Manager of External Affairs and Communications at Oyu Tolgoi LLC. Mr. Oybek Khalilov was appointed the new Chairman of AmCham Mongolia’s Board of Directors.

Border crossing remains delayed at the Gashuun Suhait border checkpoint
Delays for border crossing persist for trucks carrying Mongolian coal to China through the Gashuun Sukhait border checkpoint. On  November 17th, it was reported that only seven or eight coal trucks had crossed the border by 5:00 p.m. and that 80 trucks were still waiting to enter the border inspection point. Gashuun Suhait Road LLC reported that the line of trucks waiting to cross the border was as long as 118 km last Friday. Oyu Tolgoi and Tavan Tolgoi halted their export completely last week.  Chinese officials say that they are developing a  new system for registering trucks, but that imported coal will not be clearing customs inspections until the end of the year.
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