|
News -
Economy
|
|
Friday, 12 June 2009 14:01 |
see highlights
ELBEGDORJ’S PRIORITY IS TO REASSURE FOREIGN INVESTORS
Mr. Ts.Sukhbaatar, Foreign Relations Secretary of the Democratic Party, has said that President-elect Ts.Elbegdorj plans to meet with foreign investors immediately after assuming office.
He has noted the concern expressed in foreign media about his likely position on foreign investors, some of whom have also expressed their personal worries. The new President is also likely to grant interviews to foreign TV channels to reassure foreign investors that everything will be done under the law. He will tell them that Mongolia guarantees them help and safety once an agreement is signed.
Asked if the real reasons behind MPs’ refusal to approve the draft investment agreement for Oyu Tolgoi were corruption and disagreement between groups, and not their concern for national interests, Mr. Sukhbaatar said he also felt that way, but foreign investors prefer to blame the opposition for the delay. He said Mr. Elbegdorj will put an end to the present practice of groups with their own political and economic interests pulling strings through the working group.
Asked if Russian interest in mining will grow less now, Mr. Sukhbaatar said Russian interest in Mongolia was a fact of life and was welcome. However, Russia has to understand that putting too much trust in one individual may not be very productive. “Our other neighbor China has good and equal ties with all political forces in Mongolia,” he said.
Source:en.News.mn
MPS DEBATE EAVESDROPPING BEHIND CLOSED DOORS
Parliament is discussing the draft law to allow police and intelligence organizations to intercept cell phone conversations to prevent crime. The discussions are being held behind closed doors because of the sensitive nature of the issue. Mr. E.Munkh-Ochir feels police can be granted the access only under certain conditions and only if serious crimes such as human trafficking or trade in drugs are involved. The Director of the General Police Authority, Mr. D.Sandag-Ochir, assured MPs the provision, if adopted, would not be misused as decisions to eavesdrop would be taken only at the highest level. Mr. U.Enkhtur, head of the Mongolian Investigation Department, said criminals are adopting more and more sophisticated methods, and “we cannot just sit here not using modern technological aids”.
Source:en.News.mn
BHP BILLITON CLOSING OFFICE IN MONGOLIA
According to the public relations department of BHP Billiton Mongolia, the company will be closing down its office in Mongolia from July 1. All Mongolia-related affairs will be handled at the company’s Perth office. Mr. D.Ganbold, President of the Mongolian National Mining Association, has said the decision in no way indicates that the mining giant is withdrawing from Mongolia, but is just an administrative decision necessitated by economic considerations.
Source: Source: Zuunii medee
BCM Mongolia NewsWire Highlights
The Business Council of Mongolia aims to advocate increased trade and investment in Mongolia and serve as a forum for dialogue on the important business climate issues. Join us at Our Website
News Highlights
Business:
Boroo Gold negotiations may set pace for mining labor contracts; BHP Billiton closing office in Mongolia; UB Railway assets to be listed to assess investment needs; Railway repair work starts; Petro Matad plans 3 wells in 2009 at Block XX; Xanadu Mines to raise AUD12 million in fresh capital for work in Mongolia; Mongolia’s strategy to rein in Shenhua if it wins Tavan Tolgoi bid; BHP-Rio deal faces legal hurdles in Western Australia; Steel producers want competition probe of Rio-BHP JV deal; Chinese steel makers say BHP-Rio JV monopolistic;Japan steel body joins chorus against Rio-BHP venture; Specter of investment protectionism stalks China;China’s pockets aren’t deep enough during crisis; Deal collapse blow to China.
Economy:
Politics:
IMF happy with Mongolia’s performance; Moody’s sees improvement in Mongolia, but retains negative outlook;Part of USD430-million IMF soft loan to plug deficit; Elbegdorj’s priority is to reassure foreign investors; Putin’s global strategy best seen in Mongolia; Washington meeting pledges to develop U.S.-Mongolian trade relations;Asset manager probes investment opportunities in Mongolia; Builders assail bureaucracy, corruption; Commercial banks giving apartment loans, with conditions; Government needs MNT20 billion for herders; Tax waiver on cashmere export may be counterproductive; Government sanctions funds for Mon-Atom; Over 20% fall in both retail and wholesale trade; Downturn seems to lose momentum; Survey reveals popular perceptions of economy; Bees from Russian region start arriving; Audit director complains of curbs; Proposal to fine plastic bag importers rejected; Ulaanbaatar woman studies credit unions in Canada.
Lead Stories
Minister asks US to redirect funds nixed by Russia; Mongolia offers to “arrange and host” U.S.-N. Korea meeting;Medvedev wants meeting with Elbegdorj; Elbegdorj to take oath on June 18 at 12:06 p.m.; Attention shifts to Chingeltei by-election; Global corruption survey finds growing distrust of business; Abandoned garbage dump provided living for some; Development plan for Ulaanbaatar submitted; MPs debate eavesdropping behind closed doors; President pardons children and women; New Ulaanbaatar-Beijing train for tourists; 12 nationals of six countries deported in May; Poland to shut down Embassy; Visa section in German Embassy shifts for some time.
|
|
Last Updated on Sunday, 14 June 2009 03:07 |
Subscribe to this comment's feed
