May 15, 2018

President Kh. Battulga meets with women entrepreneurs


President of Mongolia Kh. Battulga visited the Women’s Business Center and Incubator Project and met with women entrepreneurs who have been participating in the project. During the visit, 28 entrepreneurs introduced their products and services and received grant aid of 135 million MNT in the form of technical assistance. The Women’s Business Center and Incubator Project was established in 2016, with financing from Korea International Cooperation Agency (KOICA) and support from the Ulaanbaatar Mayor’s Office and Asia Foundation. Since the launch of the project, roughly 5,200 women entrepreneurs have attended training offered, and the center has more than 2,100 permanent clients. The project team focuses its work on  women entrepreneurs with low income and women living with disabilities.

Keywords: startups, international development, project   The Official Gazette  /page 2/


Mid-term investment program to be introduced during Mongolia Economic Forum


The second phase of Mongolia Economic Forum 2018 will take place on May 21 and 22, at the State Palace, under the theme “Let’s Unite Strength”. During the forum, the Government of Mongolia is planning to introduce a mid-term investment program. The forum will be focused on finding solutions to challenges in the business environment and mega projects. Chief of the Cabinet Secretariat G. Zandanshatar reported that 12 sub-sessions will be held on topics such as “The Development Model of Mongolia”, “Investment Policy”, “The Fourth Industrial Revolution”, and “Public-private Partnership”.          

Keywords: MEF, foreign direct investment, GoM   The Official Gazette /page 12/


ETT makes a deal with Chalco on the price of coal


On May 10 and 11, officials from Erdenes Tavan Tolgoi JSC met with representatives from Chalco Trading Hong Kong Co. The parties agreed on increasing the price of coal by 70 cents to 60 USD per ton, and to update the mechanism for pricing of the coal, depending on market conditions every season. This decision provides ETT with the opportunity to increase the price of coal at Baruun Tsankhi. Officials highlighted that the proposed updates to the mechanism for pricing will allow for an increase in the price of coal as it relates to market recovery and that it could prevent potential risk if coal prices fall in the global market.           

Keywords: coal export, Erdenes Tavan Tolgoi, China   The National Post /page 6/

online story  

Minister of Mining visits Dongsheng Petroleum Mongolia


A working group led by Minister of Mining and Heavy Industry D. Sumiyabazar visited the oil exploration site of Dongsheng Petroleum Mongolia LLC. In line with the company's production sharing contract with the government, Dongsheng Petroleum Mongolia exports 33,000 barrels (4,700 tons) of crude oil each month. Prices for oil are set based on the London Stock Exchange’s daily price for crude oil. The company plans to export 343,000 barrels of oil in 2018. The proven reserves at the Dongsheng site total 14.9 million barrels (2 million tons) of oil. Minister of Mining and Heavy Industry D. Sumiyabazar recommended to improve the capacity of the Mongolian workforce, and to conduct environmental rehabilitation according to government standards and effectively collaborate with local administrators.

Keywords: petroleum, exports, MMHI

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia