Equities firm MST Access believes changes to the Government of Mongolia’s mining code has the potential to benefit foreign investment with revisions to the nation’s laws expected later this year. One of the potential beneficiaries of the proposed changes is ASX-listed Xanadu Mines that is aiming to develop its Kharmagtai copper-gold project in Mongolia.
Minister of Foreign Affairs of Mongolia B.Battsetseg today held official talks with Minister of Foreign Affairs of the Republic of Korea Park Jin, who is paying an official visit to Mongolia on August 28-30.
At these meetings and forums, the Mongolian side will present to Turkish investors 94 projects of infrastructure and energy, which will be implemented on the basis of a public-private and investors’ partnership within the framework of ‘New Revival Policy’ of the Government of Mongolia.
The Cabinet made the decision to have a 226-km railroad be constructed en route Zuunbayan-Khangi through a concession agreement on February 23 this year. Prime Minister L.Oyun-Erdene highlighted that the project is being implemented in the framework of the government’s ‘New Revival Policy’ due to how there has come to be disruptions in the “blood flow” of the country’s economy.
On April 4, Minister for Foreign Affairs B.Battsetseg had a telephone conversation with China’s State Councilor and Minister of Foreign Affairs Wang Yi to exchange views in detail on the international situation, issues of mutual interest including bilateral relations and cooperation, opening of border checkpoints and increasing exports and imports.
At the Green Finance Regional Forum organized at the initiative of the President of Mongolia, discussions were held on accelerating regional cooperation in fighting against climate change, desertification, and soil degradation, resolving pressing issues, developing sustainable, green financing, and implementing a policy on ‘Revival of Green Development’.
Ahead of the Mongolian Economic Forum 2022, discussions are taking place on six main topics for the ‘New Revival Policy’ being implemented by the Government of Mongolia.
L. Oyun-Erdene, Prime Minister and Chairman of the National Committee in charge of climate change and reduction of desertification, gave a keynote speech at the opening of the panel discussion ‘Green Finance-Regional Forum’ being organized as part of the series of discussions ahead of the Mongolian Economic Forum 2022.In his speech, PM Oyun-Erdene expressed confidence that the forum would approve the national roadmap for sustainable financing within the framework of ‘New Revival Policy’, issue final recommendations for presentation at the plenary session of the Mongolian Economic Forum 2022, and play an important role in elevating the public-private partnerships against climate change to a new level. He stressed, “In Mongolia, the frequency of natural disasters has doubled, 76 percent of the total territory has been struck by desertification, and 90 percent of pastures are at the risk of desertification. In addition, the country is among the 20 countries with the lowest water resources. The indication is worsening every year. The truth is that climate change is not only a developmental but also a life-limiting factor.That’s why the Green Development Revival is a component of the ‘New Revival Policy’ of Mongolia, which aims to lay the foundation for the successful implementation of the ‘Vision-2050’ long-term development policy, remove the barriers to the development, and expand the economy.”In his speech, the PM emphasized that our country is committed to contributing to global cooperation in the fight against climate change, and has the opportunity to cooperate closely with international organizations, development countries and the private sector within this framework.The PM stated that within the New Revival Policy, the Government will provide all-round support for the increase of capital flows for sustainable and green development and the successful introduction of financing instruments such as Green Financing, Green Sustainable Loans, Green Sustainable Bonds, Green Insurance, and Green Fintech in Mongolia.As the Prime Minister of Mongolia and Chairman of the National Committee in charge of climate change and reduction of desertification, he said that he would work for the full realization of the ‘Green Development Revival’ and make a real contribution to the great deeds of mankind for the Mother Earth.
Deputy Prime Minister of Mongolia S.Amarsaikhan received
ADB Country Director for Mongolia Pavit Ramachandran, ADB Senior
Urban Development Specialist A.Heckmann and Ger areas development
project coordinator D.Avirmed. Over the past 28 years, the Asian Development Bank has issued a
total of USD 3.9 billion in funding to Mongolia by providing substantial
support in wide range of areas including education, health, society, economy,
infrastructure, urban planning, and green development aside from the assistance
during COVID-19 pandemic. Commending the timely implementation of appropriate measures in
the fight against the pandemic taken by Government of Mongolia and National
Emergency Commission Agency, which made it possible to move back to normal
life, recovering its economy, ADB Country Director for Mongolia Pavit
Ramachandran expressed commitment to expand the cooperation with Mongolia
and promote the ‘New Revival Policy’ being implemented by the Government. ADB expressed an interest to cooperate in projects and programs
including Satellite city to be established in Khushig Valley,
public transport modernization, as well as ‘Green
growth recovery’ and 'Urban and rural revival' to be implemented
in the framework of the ‘New Revival Policy’. “With the establishment of the Bayankhoshuu and Selbe
Sub-Centers, some works reflected in the affordable housing program are planned
to be realized and its construction work will be launched this spring. I
am pleased to inform that Bayankhoshuu and Selbe Sub-Centers project being
implemented within the framework of the ‘Ulaanbaatar Urban Services and
Ger Areas Development Investment Program’ (GADIP) has become international
benchmark. Further, the feasibility study for the ‘Rural development’ project
to be implemented in 8-9 aimags was approved and its financing was
resolved. Within the framework of the project, small and medium-sized
enterprises, including processing plants, will be promoted, creating more jobs
in the local areas. Therefore, it should be decided by the Government in which
aimags the project will be implemented,” said ADB Senior Urban
development Specialist A.Heckmann.
Deputy Prime Minister of Mongolia S.Amarsaikhan
noted “We became able to move into ‘Yellow’ level thanks to the
five-phase strategy measures implemented by the Government and the support of
people during Covid-19 pandemic. I would like to express my appreciation to the
ADB for making valuable contribution in overcoming the Covid-19. We fully agree
with suggestions put forth by the ADB on the successful implementation of
projects and programs of the ‘New Revival Policy’. In particular, the
development of satellite cities is a priority to reduce the centralization and
traffic congestion of Ulaanbaatar city. Therefore, we are willing to
co-implement the projects and programs towards the establishment of
infrastructure, affordable housing and free economic zone.”
Deputy Prime Minister of Mongolia S.Amarsaikhan received ADB Country Director for Mongolia Pavit Ramachandran, ADB Senior Urban development Specialist A.Heckmann, Ger areas development project coordinator D.Avirmed.