AmCham Daily Newswire

Speaker of the Parliament receives the U.S. Ambassador to Mongolia

Summary: Speaker of the Parliament M. Enkhbold received Ambassador of the United States of America to Mongolia Jennifer Zimdahl Galt. M. Enkhbold stated, “The U.S. holds a very special place in Mongolia’s foreign policy, and during these difficult times, the aid from countries that Mongolia has a good relationship with is important.” The Ambassador stated that her main goal is to strengthen the strong relationship between the two countries and to work with the government to revitalize the economy. The two parties discussed approving the Transparency Agreement, signing a contract for a second Millennium Challenge Corporation compact, and continuing the operations of Mongolian Peace Keepers in Afghanistan. The Ambassador noted that by implementing the Transparency Agreement, trade and investment will increase, and it will send a very positive message to other countries.

Keywords: bilateral relations, U.S. Embassy Today /page A2/

China postpones a meeting to negotiate a new loan

Summary: A meeting between representatives from the Mongolian and Chinese governments was scheduled to take place on November 28, but has been postponed at the request of the Chinese government. A working group headed by Deputy Prime Minister U. Khurelsukh will represent the Mongolian government in the meeting, and Minister of Finance B. Choijlsuren announced that the meeting will cover negotiating terms for a development loan requested by the Mongolian government with an up to 2% interest rate and 20-year term.

Keywords: loan assistance, bilateral relations, China The Century News /page 1/

AmCham Mongolia Hosts Its 2016 Annual General Meeting

Summary: The American Chamber of Commerce in Mongolia (AmCham) held its Annual General Meeting (AGM) on Wednesday, November 23, 2016, with U.S. Ambassador to Mongolia the Honorable Jennifer Zimdahl Galt, over 50 of AmCham’s members, and other leaders of the business community. During the AGM, AmCham members discussed, voted on, and set the priorities and directions of the organization for 2017, and elected several new members to the Board of Directors. Seven candidates competed for the three open seats on the Board of Directors and Mr. E. Dolgion, CEO of Bloomberg TV Mongolia; Mr. Erik Versavel, Country Representative for ING Mongolia; and Mr. S. Esentsengel, Deputy Executive Director for MCS Holding were elected to serve on AmCham’s Board of Directors in 2017. Jay Liotta, Chairman of AmCham Mongolia, stated, “2016 was a flagship year for the American Chamber of Commerce in Mongolia, having recruited 13 new members, hosted 33 events, and issued 6 position papers while becoming the first business organization to host both former and current Prime Ministers of Mongolia, the new Minister of Foreign Affairs, and the new Vice Minister of Finance. In 2017, AmCham will work toward building on the groundwork we laid in 2016 and achieving concrete results for our members and Mongolia.” Following the Chairman’s remarks, U.S. Ambassador to Mongolia Jennifer Zimdahl Galt noted, “As we highlight the robust U.S-Mongolia partnership throughout 2017, we look forward to continuing to work closely with AmCham to advance our shared priorities. I eagerly anticipate the further strengthening of our already strong partnership in the new year, and look forward to exploring new avenues of cooperation.”

Keywords: AmCham, AGM, BoD Today /page A3/

Mongolia sees 6.6 million barrels of oil exports as of October 2016

Summary: As of October of this year, Mongolia exported 6.6 billion barrels of oil valued at 270.1 million USD. Compared to last year, export volume decreased by 0.3%. In October, PetroChina Daqing Tamsag extracted 38,000 tons of oil from its XIX field and 45,800 tons of oil from its XXI field. The Mineral Resource Authority of Mongolia reported that 89,100 tons of oil was extracted and 93,000 tons of oil was exported. PetroChina Daqing Tamsag plans to extract and export 1.3 million tons of crude oil this year. All of the company's oil is exported to China.

Keywords: export, oil The Official Gazette /page 11/

General Director of Erdenet Mining Corporation appointed

Summary: The Board of Directors of Erdenet Mining Corporation has appointed former Member of Parliament Kh. Badamsuren General Director. Kh. Badamsuren is currently the Vice Minister of Mining and Heavy Industry. Kh. Badamsuren was the director of Mongolrostsvetmet from 1994 to 2006. From 2007 to 2008, he was the head of the Geology, Mining and Heavy Industry Department at the Ministry of Trade and Industry. He served as a Member of Parliament from 2008 to 2012, and has been an advisor to the head of the Democratic Party since 2014.

Keywords: Erdenet Mining Corporation, mining www.ikon.mn