MONTSAME names 2016 Top 10 Events in Mongolia PART 1

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1. Mongolian People’s Party wins General Election by a landslide

The day of the General election, June 29 saw a 72.1 percent voter turnout and a landslide victory of Mongolian People’s Party (MPP).

In this election, total of 498 candidates competed for 76 parliamentary seats. As a result, MPP won 65 seats, Democratic Party 9 seats, Mongolian People’ Revolutionary Party 1 seat and independent candidate took 1 seat.

Elections of city and regional councils were also held simultaneously. MPP reconfirmed its success by winning majority seats in these elections.

2. Mongolia hosts the 11th Asia-Europe Meeting

The 11th Asia-Europe Meeting (ASEM) was held in Ulaanbaatar on July 15-16 under the theme ‘20 Years of ASEM: Partnership for the Future through Connectivity’.

Chaired by Mr Elbegdorj Tsahia, President of Mongolia, the high level meeting was attended by 11 heads of state and 23 heads of government and the remaining countries’ delegates were mainly Foreign Ministers with 3 special envoys.  

3. Mongolia acquires 100 percent ownership of Erdenet Mining Corporation

With ‘Mongolian Copper’ company purchasing 49 percent ownership of Mongolian-Russian Joint Venture Erdenet Mining Corporation (EMC) from Russian Rostech Corporation in June, the corporation came into 100 percent ownership of Mongolia.

The Mongolian-Russian Joint Venture ‘Erdenet’ ore-dressing plant was put into operation on December 14, 1978.

4. Mongolia-Japan trade sector advances to a new level

Mongolia-Japan Economic Partnership Agreement takes effect on June 7. In accordance with the Agreement, a total of 5700 types of goods exported from Japan and 9300 types of goods exported from Mongolia will be exempted from customs duty in four stages.

5. New VAT Law takes effect to combat shadow economy

The revised Value-added tax law adopted by Mongolian Parliament in July 2015 came into effect on January 1, 2016.

The Cabinet considered that implementation of the new VAT Law will result in a greater VAT-sourced revenue and tackle undeclared economy with broader citizen participation. Two main policy changes directed at increasing citizen participation were 20 percent VAT refund and introduction of VAT lottery.

6. Mongolia fully supplies its domestic wheat demand

On the national level, 475.8 thousand tons of crops including 460.7 thousand tons of wheat, 153.7 thousand tons of potatoes, 93.5 thousand tons of vegetables were harvested.

The above numbers indicate that Mongolia fully supplies its domestic demand of wheat and potatoes.

7. Mongolia bags four medals at Rio Olympics

The 31st Summer Olympic Games were held in Brazil's capital city, Rio de Janeiro bringing joy and excitement around the globe. Mongolian athletes grabbed 1 silver and 3 bronze medals.

Mongolia sent its biggest Olympic team yet consisting of 43 athletes to the Olympic Games.

8. Infrastructure development – Construction of New Ulaanbaatar International Airport and Oyu Tolgoi Underground mine

In 2016, two major projects have progressed in Mongolia. The New Ulaanbaatar International Airport is being constructed in Khushig Valley, Tuv Aimag. The Mitsubishi-Chiyoda Joint Venture of Japan has been working as the main Contractor with Samsung C&T of the Republic of Korea as the Prime Sub-contractor. The construction work will be fully finished on 10th of January 2017.

After being suspended for about two years, the Oyu Tolgoi underground mine development restarted on May 7. The development of the Oyu Tolgoi underground mine became possible with the signing of a US$4.4 billion project financing agreement with 15 commercial banks.

9. His Holiness the 14th Dalai Lama pays a religious visit

On November 18-23, His Holiness the 14th Dalai Lama graced Mongolian Buddhists on his 9th religious visit to Mongolia, following an invitation by D.Choijamts, Khamba Lama of Gandantegchenling Monastery.

10. Order of Chinggis Khaan bestowed to famous opera singer

State Honored Artist, opera singer G.Ariunbaatar was presented with the Order of Chinggis Khaan on the Day of Mongolian Pride, thus becoming the 10th and the youngest winner of the most reputed award in Mongolia.

The Grand Prix and Gold Medal Winner of the 15th International Tschaikovsky Competition is currently employed as a soloist of the Mariinsky Theatre and the Buryat State Academic Opera and Ballet Theater in Ulan-Ude, Russia as well as of the ‘Suld’ ensemble of the Mongolian Police Academy.