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http://zgm.mn/post/2793/

Naadam opening to be performed for foreign visitors

The standard ticket price is MNT 16,000-24,000

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http://zgm.mn/post/2793/


Naadam Festival 2019 will be held at the National Amusement Park at 21.00 pm for foreign visitors. The official opening ceremony of the Naadam Festival takes place at the National Sports Stadium in Mongolian. Therefore, foreign tourists cannot fully understand the meaning of content. This year, the Ministry of Environment and Tourism decided to re-organize the opening as Naadam Night show in English.

Also, there is a problem of lack of opening ceremony ticket. National Sports Stadium has only 12,300  seats and finding tickets is a big problem tourists face every year. A total of 15,000 tourists submitted a request to watch Mongolia’s traditional festival opening ceremony. However, around 1500 tickets were allowed to the tourists. This year, the standard ticket price is MNT 16,000-24,000 the same as the last year.

“The Stadium has 13,500 seats, and tourists can receive 3500 of it. This is our capability. If we allow all the tourists who want to attend the opening of the Naadam Festival to enter the Central Stadium, Mongolians cannot watch their traditional festivals. We are aiming to receive one million foreign tourists in 2020, making an effort to improve sanitation standards in tourism zones,” the Minister of Environment and Tourism Tseerenbat Namsrai said to the press.

In Mongolia, the tourism season starts in May, and travelers tend to attracted by Naadam Festival. There is statistical data on an average of 450,000 tourists visit Mongolia annually. However, according to the officials, the number of tourists visiting Mongolia only exceeds 90,000 per year.

Tourists came to Mongolia decreased by 4.8 percent last year

During Naadam, National Sports Stadium become extremely crowded, due to the centralized trade and trade services. “730 organizations, which include food, souvenirs, handicrafts, and other trading will work in the stadium and Khui Doloon Khudag. Under General Manager of Ulaanbaatar’s order related to Naadam, the Metropolitan Professional Inspection Department, Police Department of Ulaanbaatar city, and the Mayor’s office of all districts will jointly work in maintaining security,” said the spokesman.

The number of tourists came to Mongolia last year decreased by 4.8 percent. The decline in tourists from China and Australia was the key factor to it. Although the total number of tourists has dropped, tourists from Ukraine and Hong Kong have risen. In particular, the tourists from Ukraine increased by 37.2 percent compared to last year. Traveling flow between the two countries has doubled since the adoption of the non-visa law to Russia.

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President bans parliament decree on constitution

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The President of Mongolia has banned the Parliament decree on adopting the referendum and accepting the Constitution of Mongolia. The official note was sent to Parliament Speaker Zandanshatar Gombojav. President said that the amendment to the Constitution did not meet the requirements of the Constitution of Mongolia’s amendments and the Act was violated.


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APU JSC’s share price decreases

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The share price of APU JSC, one of the companies that have the highest market value, has fallen 22 percent since 2019. Due to the drop, the company’s stock became losers among the MSE tier-I listedcompanies of Top-20 Index. The company had a market value of MNT 687.2 billion at the beginning of the year, and by September 19, the value lowered by MNT 151.9 billion to MNT 535.3 billion. Compared to the financial performance of the first half of 2018, the company’s sales revenues have increased, but net income decreased by MNT 4.5 billion. The decline in market capitalization was major factor for the decrease. Even though the share prices have fallen, lower stock options among investors is increasing the number of shareholders. Specifically, the number of small shareholders in APU has increased by 7.4 percent to 6,000.

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India pledges additional USD 236 million for oil refinery

India to fund oil refinery with USD 1 billion in Mongolia

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President of Mongolia Battulga Khaltmaa met with Indian President Ram Nath Kovind and the sides released a joint statement on Strengthening Mongolia-India Strategic Partnership during a five-day visit in the country. It is the first visit by the head of state of Mongolia to India in the last decade.

Mr. Battulga said, “During the visit of Prime Minister Narendra Modi to Mongolia, India extended soft loan credit line of one billion dollars for the construction of oil refinery in Mongolia. We are concluding the construction of roads, railways and power line for the refinery. The construction of refinery provides many opportunities for Mongolian and Indian entrepreneurs”. 

The USD 1 billion oil refinery being built with Indian aid in Mongolia will be completed by December 2022 and will produce about three-fourths of Mongolian oil consumption, Indian Union Minister said.

India further agreed to extend an additional Line of Credit of USD 236 million for the project, taking India’s total commitment for the project to USD 1.2 billion. Both sides also agreed to train engineers and technicians to be employed at the “Mongol Refinery Project” in India through Scholarship from the Indian Government under the existing Indian Technical and Economic Cooperation (ITEC) program.

During his visit to the Taj Mahal, President Battulga and Prime Minister Narendra Modi jointly unveiled a statue of Buddha and his two disciples, installed at the Gandan Tegchenling Monastery in Ulaanbaatar, at a function in New Delhi on Friday. 2020 will mark the 65th anniversary of the diplomatic relationship between Mongolia and India.



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ERD commences second phase of Khundii Gold Project

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Erdene Resource Development Corp. announced its commencement of the second phase of the 2019 drill program at its 100 percent owned Khundii Gold Project.

During the second quarter of 2019, the company started drilling and discovered high gold mineralization from the undiscovered section of the Bayan Khundii area. ERD also had reported that they found 5.9 grams of gold per ton of soil at the time. The new drilling will continue on the Bayan Khundii’s special licensed field.

“The current drill program will follow up on our Q2 2019 program, which discovered high-grade gold in a previously untested area of the Bayan Khundii deposit and intersected 112 meters grading 5.9 g/t gold at Midfield, confirming the continuity of high-grade mineralization from near-surface in the heart of the Bayan Khundii deposit,” said Peter Akerley, Erdene’s President and CEO. “Exploration drilling will test the high-priority Khundii North and CSZ targets, as well as the newly discovered Khundii South zone of the Bayan Khundii Mining License.”

ERD’s share price rose 13.5 percent, to CAD 0.21 on the Toronto Exchange Exchange (TSX).