AmCham Daily Newswire

676 candidates will compete for 295 ballots in the local election

Summary: The General Election Committee has finished registering candidates for the local election. There are 15,209 candidates competing for 7,006 ballots in the Citizen Representatives Khural (Council). The election has 1,792 election districts, with 9 districts in the Capital city, and 330 soums in 21 provinces. The local election is scheduled to take place October 19^th and the Chairman of the General Election Committee U. Ganbold stated in an interview, “Only candidates from the Democratic Party and Mongolian People’s Party are competing in the Bayangol district and there are 38 independent candidates competing in the 9 districts of the Capital.”

Keywords: local election The Official Gazette /page 2/

The Government is planning to sell bonds worth 15 billion MNT

Summary: The Government is planning to sell two types of bonds to raise 15 billion MNT on September 20th. The first type of bond is set to raise 5 billion MNT and will have an annual interest rate of 15.7%, 3-month duration, and fifty thousand shares. The second type of bond is set to raise 10 billion MNT with a 16.4% annual interest rate and has 6-month duration. Discounted prices for a 3-month bond is selling for 96.513 MNT per share and a 6-month bond is selling at 91,906 MNT per share.

Keywords: bonds, government, debt Today /page B1/

Oyu Tolgoi LLC’s Board of Directors are dismissed

Summary: Oyu Tolgoi LLC’s board members, B. Byambasaikhan, D. Ganbold, and Ch, Otgonchuluu have been dismissed from their positions. The Erdenes Mongol LLC board made the decision and it is being reported that the Oyu Tolgoi board and the Erdenes Mongol LLC board will convene tomorrow.

Keywords: OT The Century News /page 1/

J. Erdenebat: Council to protect the interests of investors established

Summary: In AmCham Mongolia’s September Monthly Meeting, the Prime Minister of Mongolia J. Erdenebat met with Ambassadors from Canada, Great Britain and the United States of America; senior representatives from the IFC, ADB, World Bank, and IMF; AmCham members; and heads of the other foreign business groups to discuss the Mongolian economic situation and ways to improve the business environment. The Prime Minister was invited to discuss the Government’s Action Plan and ways to regain investors’ trust in Mongolia. The Prime Minister, J. Erdenebat stated that, “ First and foremost, the macroeconomic environment has to be stabilized in order to successfully implement our Action Plan. We will implement clear objectives to create a favorable environment for investors. One of the ways to help achieve our goal is creating a Council to protect the interest of investors.” The main goal of this council is to protect domestic and foreign investors from illegal requirements, harassment, and clear any misunderstanding between the Government and investors. Jay Liotta, Chairman of the Board of AmCham expressed his desire to cooperate with Government to improve the business environment. The members of AmCham expressed their wish to work with the Government to create real change in the economy. .

Keywords: prime minister www.ikon.mn