Lehman Bush LLC

Viewpoint by David Beckstead of Lehman Lee Xu Mongolia LLC has been published in Oxford Business Group’s Mongolia Report 2014

Хамгийн эрэлт хэрэгцээтэй болон ажил олоход хэцүү мэргэжлүүд

http://www.businessinsider.com/worst-college-majors-2014-6

The 10 Worst College Majors Fine arts majors, brace yourselves.

Mongolia Business Summit – GROW WITH US
Bringing together business people, entrepreneurs and investors to discuss how they can collectively take advantage of Mongolia’s next phase of growth

ULAAN BATAAR, Mongolia--(BUSINESS WIRE)--Presented by the Mongolia Economic Forum, the Mongolia Business Summit will focus on global partnerships to facilitate business growth. A “deal-driven” approach enabling entrepreneurs, investors, bankers, both local and international, to interact directly will be used.

A huge focus of next month’s summit is to introduce corporations, bankers, investors and entrepreneurs, both local and international, to discover how they can explore the untapped potential of one of the world’s fastest growing economies.

International and local business people experiencing success in Mongolia will share unrivalled, first-hand experience of growing their business in this emerging market. One of the participants of the conference Mr. Robert Friedland is also expected to attend.

With one of the world’s fastest growing GDP rates at 9.5% in 2014 and 10% expected in 2015 (Asia Development Bank), Mongolia is setting the foundations for a period of high and steady growth expected in 2015/2016.

Mongolia serves as a key platform for markets in China and Russia. This landlocked nation is ideally situated between two influential neighbours with large economies.

The country’s target growth sectors, including agriculture, infrastructure, mining, real estate and manufacturing, will be explored at the event. Representatives from each of these sectors will also attend.

Participants have the rare opportunity of opting to visit various sites including cashmere factories, agricultural and food processing facilities, manufacturing plants and a mining site.

Join us for the Mongolian Business Summit from June 19-21, 2014 in Ulaanbaatar, Mongolia.

Grow with us.

For further information please contact or visit www.meforum.mn, www.business-in-mongolia.mn.

http://www.businesswire.com/news/home/20140530005624/en/Mongolia-Business-Summit-%E2%80%93-GROW #.U47g4nKSzkF

Mongolia Business Summit – GROW WITH US | Business Wire Bringing together business people, entrepreneurs and investors to discuss how they can collectively take advantage of Mongolia?s next phase of growth ULAAN BATAAR, Mongolia--( BUSINESS WIRE )--Presented by the Mongolia Economic Forum, the Mongolia Business Summit will focus on global partnerships to…

MONGOLIA MIGHT JOIN SOME CONVENTIONS OF ILO

Ulaanbaatar /MONTSAME/ Mongolia is one of the first nations in Asia to join eight fundamental conventions of the International Labour Organization (ILO).
At its regular meeting on Saturday, the cabinet discussed and backed a matter to join the ILO 88th convention on employment service (1948) and the ILO 181st convention on private employment agencies (1997). This issue will be consulted with a related parliamentary Standing committee.

If Mongolia joins these conventions, the country will be able to expand its international cooperation and to augment technical assistance from international organizations for upgrading the employment structure and system and empowering human resources.

In addition, Mongolia can protect labour and social interests of both consumers and mediators and prevent illicit employment thanks to having a general legal regulation and registration over private employment services.

www.montsame.gov.mn

Алтны экспорт 46 хувиар нэмэгджээ

Ашигт малтмалын бүтээгдэхүүний олборлолт, экспорт нэмэгдсэн талаар Уул уурхайн яамнаас мэдээллээ. Тодруулбал, энэ оны эхний дөрвөн сарын байдлаар зэсийн баяжмалын үйлдвэрлэл 305.8 мянган тонн болж, молибдений баяжмал 1.2 мянган тонн, алт 1.4 тонн, нүүрс 6.9 сая тонн, жонш 92.2 мянган тонн, төмрийн хүдэр 0.9 сая тонныг олборлосон байна.

Харин экспортоор 5.4 сая тонн нүүрс, 316.5 мянган тонн зэсийн баяжмал, 1.4 мянган тонн молибдений баяжмал, 2.5 тонн алт, 83.0 мянган тонн жонш гаргажээ. Үүнийг өнгөрсөн оны мөн үеийнхтэй харьцуулахад зэсийн баяжмал 41 хувиар, алт 46.5 хувиар, газрын тосны бүтээгдэхүүн 32.3 хувиар, нүүрсний экспорт 7.3 хувиар, тус тус өссөн дүн юм байна.

Алтны хувьд олборлолт 1.4 тонн ч гэсэн экспортын хэмжээ үүнээс давж, нөөцөөсөө нийлүүлээд 2.5 тонныг экспортолсон дүр зургийг харж болно. Өнгөрсөн дөрөвдүгээр сарын эцсийн байдлаар улсын хэмжээнд 75 компани алт олборлох үйл ажиллагаа явуулж байна. 2005 онд алтны салбарт 110 орчим компани ажиллаж, 24 тонн алт олборлосон бол 2011 онд 5.7 тонн алт олборлож байжээ. Алтны олборлолт, экспорт Алтны худалдаанд ид тод байдлыг хангах тухай үзэл баримтлалыг хуульчилснаар энэ жилээс идэвхжихийг эдийн засагчид хэлдэг бөгөөд ийнхүү эерэг үзүүлэлт гарах боллоо.

www.news.mn

Алтны экспорт 46 хувиар нэмэгджээ Ашигт малтмалын бүтээгдэхүүний олборлолт, экспорт нэмэгдсэн талаар Уул уурхайн яамнаас мэдээллээ.

Mongolia Growth Group Acquires Centrally Located Retail Center

TORONTO, CANADA, May 29, 2014 (Filing Services Canada via COMTEX) -- Mongolia Growth Group Ltd. (YAK - TSXV and MNGGF - USA), ("MGG") or ("the Company") www.mongoliagrowthgroup.com , a real estate investment and development company participating in the dynamic growth of the Mongolian economy via ownership of institutional-quality commercial property assets in Ulaanbaatar, Mongolia, announces the acquisition of a centrally located retail center along with an adjoining development site in two separate transactions.

The total cost of the two transactions is approximately CDN $8,300,000 consisting of approximately CDN $5,950,000 in cash and the transfer of MGG's two largest "held for sale" assets along with one of its development sites. It is expected that this transaction will be accretive to cash flow beginning in early 2015, as the three assets transferred in this transaction produced negligible operating income over the past year. MGG is currently finalizing plans to modernize and expand the recently acquired building structure and development site into a bustling retail shopping center.

MGG has partially financed the cash portion of the acquisition through a 5-year, US $3 million dollar lending facility with one of the leading banks in Mongolia. To date, CDN $1,304,120 (1,200,000 USD) has been drawn on this facility. It is anticipated that borrowings under the lending facility will be repaid through the continuation of planned asset sales.

"This transaction is the culmination of nearly nine months of negotiations and due diligence, where we have swapped mostly non-core assets for a premium retail asset and contiguous development site in downtown Ulaanbaatar," said Harris Kupperman, Executive Chairman of MGG. "We are true believers that Mongolia's economic development over the next few decades will fuel a retail spending boom. Following the success that we have experienced with our previous redevelopments, we intend to upgrade the existing building, expand its footprint and make it one of the busiest retail centers in Ulaanbaatar."

"From a strategic and operational standpoint, it is substantially easier to manage one larger asset, compared to three smaller ones," said Paul Byrne, CEO of MGG. "This transaction continues our process of disposing of smaller and marginal assets while we upgrade our portfolio into high quality assets in prime locations. In the case of this asset, we have the potential to achieve accretive cash flows while we await the full blue-sky development potential of the site.

It is anticipated that the redevelopment of this location will begin during the second half of 2014.

www.marketwatch.com

Mongolia's Premier Property Investment & Management Company | Mongolia Growth Group Mongolia Growth Group Ltd. is a real estate and financial services conglomerate focusing its operations on the rapidly growing economy of Mongolia.

Mongolia Sees $1 Billion Investment From Doubling Area for Mines

Mongolia is seeking to expand its area available to mining to a fifth of the country, and by the close of the decade to end its dependence on foreign oil, according to a senior government official.

The outlook hangs on the passage of laws governing mining and energy, Vice Minister for Mining Erdenebulgan Oyun said last week in an interview. Both could be signed off by parliament within a month, he said.

The mining plans alone could unlock $1 billion in developments this year, easing pressure on Mongolia’s mineral-dependent economy. As recently as 2011, its growth was a world-beating 17.5 percent. That moderated to 11.7 percent last year, amid a collapse in foreign investment that has continued into 2014. The government last month embarked on a 100-day race to improve economic performance via dozens of measures to boost investment and cut imports.

Replacing Mongolia’s 1991 Petroleum Law would expand investment opportunities to include different types of contracts between parties, and regulate new energy sources including the nation’s nascent oil shale industry.

“The law is outdated and many industries are unregulated,” said Erdenebulgan, speaking in Ulaanbaatar. The new law is based on the “best international petroleum laws from different countries.”

Erdenebulgan said the mining law amendments would increase Mongolia’s area available to mining and exploration to 20 percent from around 8 percent, by lifting a 2010 ban on new licenses. The period of exploration would also increase from nine years to 12 years.

New Investment

The restart of exploration could provide Mongolia with $1 billion in new investment this year, Erdenebulgan said, in an economy with a gross domestic product of $10.3 billion in 2012. Mining disputes, including a high profile spat with Rio Tinto Group over the Oyu Tolgoi copper and gold mine it shares with the government, have chilled foreign interest in the sector.

Extending the term to 12 years “would be an improvement and potentially a competitive advantage to attract investors back to Mongolia,” said Sam Spring, president of Kincora Copper, a Vancouver-based miner with operations in Mongolia.

The amendments “get Mongolia back in the game” Spring said, with the caveat that more needs to be done to make the country competitive. Other than the 12-year extension “I haven’t seen anything in the proposed changes which would help favorably differentiate Mongolia to other jurisdictions,” he said.

Shale Bet

Mongolia’s shale oil bet, meanwhile, drew Newark-based Genie Energy Ltd. (GNE) into signing a contract in 2013 to explore for deposits in central Mongolia. After five years, the deal can be converted to a production sharing contract, which would give the government a share of any projects, said Erdenebulgan.

The U.S. Energy Information Administration estimates Mongolia’s technically recoverable shale oil resources at 3.4 billion barrels, of a total in the ground of about 85 billion barrels, according to a June 2013 report. Its shale oil and gas reserves are “limited but locally significant,” the report said.

Based on its own surveys, the nation has the potential to be among the top ten oil shale producing countries worldwide, according to Khashchuluun Chuluundorj, chief executive of the Mongolia Shale Association.

The nation of 3 million’s conventional oil sector is small, although annual output will increase in 2014 to around 7 million barrels of crude, said Erdenebulgan. By comparison, Mongolia’s neighbor Russia is the world’s top producer with 10.4 million barrels of oil a day.

Rosneft Contracts

Mongolia imported almost 1.2 million tons of diesel and gasoline in 2013, according to its National Statistical Office. Russia’s Rosneft OAO (ROSN) last week signed three contracts to supply $2.3 billion in oil products over 5 years to Mongolian importers.

Mongolia can wean itself off foreign oil-product imports by 2020, and the government is planning to build its first refinery in southeast Mongolia to process domestic oil, said Erdenebulgan.

The nation is far richer in coal, with 160 billion metric tons of reserves. It’s exploring coal-to-gas or liquid projects, attracting investment interest from China Petroleum & Chemical Corp. (386), Asia’s biggest refiner, and Posco, South Korea’s biggest steelmaker, as well as domestic companies.

China Petroleum, known as Sinopec, signed an agreement in October to develop coal gasification plants in Mongolia. Erdenebulgan said that, while most of that gas would be exported to China, some would be used to help heat homes in the capital, where temperatures in winter plummet to minus 30 degrees Celsius. Most residents currently heat their homes with raw coal, a significant source of the air pollution that made Ulaanbaatar the world’s second most polluted city, according to a 2011 report by the World Health Organization.

“Russia is a big exporter of gas products to China,” said Erdenebulgan. “We also want to pe*****te the Chinese market.”

www.bloomberg.com

Mongolia Sees $1 Billion Investment From Doubling Area for Mines Mongolia is seeking to expand its area available to mining to a fifth of the country, and by the close of the decade to end its dependence on foreign oil, according to a senior government official.

Mongolia’s Hunnu Air e-Tickets Asian Routes with Abacus

Mongolia’s second largest airline, Hunnu Air is contributing revenues of its own to the economy’s booming 12% GDP growth with expanded routes and new digital services, promoted with the latest Abacu technology.

An Abacus e-ticketing capability will now streamline business and leisure bookings to build volumes from Hong Kong and Bangkok, as well as attracting new traffic onto its Hailar and Inner Mongolian routes.

Seasonal services to the fast moving feeder markets of Shanghai in June, Haneda (Tokyo) and Sanya (Hainan) this winter will also be made more accessible with Abacus distributing the content to travel agents at over 20,000 locations in the region.

Hunnu Air intends to use Abacus to promote charter flights from South Korea’s popular Jeju into Mongolia’s capital and hub, Ulaanbaatar soon.

Margad Byambajav, VP and CCO for Hunnu Air explained the strategy, “We are working with the region’s technology leader Abacus to make it easier to arrange travel to Mongolia from Asia’s main Hong Kong, Thai, Malaysian and Taiwanese feeder markets, as well as at home with our domestic network. We aim to encourage more corporate bookings and improve access to the country’s many unique tourism experiences, leveraging our nomadic cultural heritage, especially through the summer peak with the July Naadam festival.”

Hunnu Air (formerly Mongolian Airlines Group) is investing in new Airbus A330-200s in anticipation of the increased demand, enhancing its A319 fleet.

www.asiatraveltips.com

ЗГ-ын дэргэдэх Эдийн засгийг эрчимжүүлэх зөвлөлийн Нарийн Бичгийн Дарга Б.Бямбасайхан: Итгэлцлийг буцааж авахгүйгээр хөрөнгө оруулалтыг татах ямар ч боломжгүй

Мөнгөтэй болохын тулд харилцаагаа өөрчилмөөр байна Эдийн засгийг эрчимжүүлэх зөвлөлийн нарийн бичгийн дарга Б.Бямбасайхантай ярилцлаа.

“Rio Tinto” компани Монголд асуудалтай байгаа төслөөсөө 300 ажилтан цомхотгохоор төлөвлөж байгаа талаар “Times” сонины өнөөдрийн дугаарт мэдээлжээ

“Оюу Толгой” компани бүтцийн өөрчлөлт хийж эхэлжээ “Оюу Толгой” компани бүтэц зохион байгуулалтаа оновчтой болгох арга хэмжээ авч эхэлсэн тухай мэдээлэл бидэнд ирлээ. Бүтцийн өөрчлөлтийн хүрээнд энэ сарын 27-ноос цомхотгож байгаа ажилтнууддаа албан ёсоор мэдэгдэж эхэлсэн талаар компанийн ажилтнууд мэдээлж байна. Харин энэ талаар “Оюу Толгой” компани…

“Эдийн засгийг эрчимжүүлэх ажил хэрэгжээд эхэлсэн”

“Эдийн засгийг эрчимжүүлэх 100 хоног” арга хэмжээний хүрээнд Монгол Улсын Ерөнхий сайдын дэргэд Эдийн засгийн зөвлөлийг байгуулсан. Зөвлөлд санхүүгийн салбар болон хувийн хэвшлийн 30 орчим төлөөлөгч гишүүнээр элссэн.

Тус зөвлөлийн гишүүн, Монголын санхүүгийн зах зээлийн холбооны дэд ерөнхийлөгч Л.Бямбаатай эдийн засгийг эрчимжүүлэх арга хэмжээний хүрээнд хийх ажлын талаар товч ярилцлаа.


-Эдийн засгийг эрчимжүүлэх 100 хоногоор яаравчлан эдийн засгийн хүндрэлээс гарна гэж байгаа. Үнэхээр олон жилийн турш шийдэх гээд гарцаа олоогүй асуудлыг хэрхэн шийдэх вэ. Яг аль асуудлыг онцлох вэ гэдгээс ярилцлагаа эхлүүлье.

-Зөвлөл 30 хүний бүрэлдэхүүнтэй ч энэ хүрээнд санал, бодлыг сонсч, асуудалд хандах байдлаар хязгаарлагдахгүй. Үүн дээр нэмээд мэргэжлийн байгууллага, холбоодоос санал авч, давхардсан саналуудыг бид шийдэх ёстой гэж асуудал гэж үзэж, саналуудыг багцалж байгаа юм. Өөрөөр хэлбэл, эдийн засагт яаралтай шийвэрлэх асуудал олны саналаар шүүгдээд гарч ирж байгаа гэсэн үг. Эдийн засгийг эрчимжүүлэх 100 хоногийн арга хэмжээгээр хэд хэдэн багц асуудлыг авч үзэж байна. Энэ нь Эдийн засгийн өршөөлийн хуультай болох, гадаадын хөрөнгө оруулалтыг татах, хайгуулын лицензийг олголтыг сэргээх, татварын шинэчлэлийн асуудлыг яаравчлуулах, өөр стратегийн хөрөнгө оруулалттай ордуудын ажлыг эхлүүлэхэд анхаарах болно. Үүнийг богино хугацаанд хэрхэн шинэчлэл хийж чадах вэ гэдгийг тодорхой болгож, цаашдаа ч чиглэлээ болгон ажиллана. Эдгээр нь зах зээлд том үүрэг, оролцоотой учраас цаашид бизнес эрхлэхэд итгэл, үнэмшлийг нэмэгдүүлэх учиртай. Жишээ нь, Оюутолгойтой хамааралгүй бизнес байсан ч гэсэн гадаадын хөрөнгө оруулагчид бид Оюутолгойг сонирхоод ирсэн. Гэтэл та нар эхлээд Оюутолгойгоо шийдчихээч л гэдэг. Тиймээс бизнес эрхлэх орчинд аль аль талдаа итгэлцэл үүсгэх ёстой.

-Эхний асуудлууд хэзээнээс шийдэгдэх бол?

-Ер нь эхнээсээ шийдвэр гаргахад дөхсөн. Хайгуулын лиценз олголтыг сэргээх асуудлыг УИХ-д өргөн барьсан. Шинээр хайгуулын лиценз олгохгүй байгаа нь хөрөнгө оруулагч нарыг үргээж байна гэж сүүлийн гурван жил шүүмжилсэн. Тэгвэл энэ асуудал тодорхой шийдэлд хүрэх байх. Мөн Монголын банкны холбооноос одоогийн эдийн засагт үүсээд байгаа асуудлын нэг болох ам.долларын зээлийн нөхцлийг дахин шинэчлэх санал тавьсан. Энэ хүрээнд ам.доллараар зээл авсан бол эргэн төлөлтийн хугацааг сунгах байдлаар ч юм уу, анхаарал хандуулах талын зүйл ярьсан. Үүнийг Монголбанктай зөвшилцөж байж шийдэх асуудал юм.

-Эдгээр багц ажлуудыг хэрэгжүүлэхэд гадуур улс төрийн нам, хүчний оролцоо хэр байх бол гэж ихэд сонирхож байна лээ?

-Товчоор хэлэхэд, эдийн засгийг эрчимжүүлэх 100 хоногийн арга хэмжээ улс төрийн нам, хүчний нөлөөлөл, амбицаас холуур байх болно. Бид санхүүгийн салбарынхан болон бизнес эрхлэгчдийн саналыг тусгаж, эдийн засагт хэрэгтэй байгаа санааг л хэрэгжүүлнэ.

-2011 онд агуу их хөрөнгө оруулалтын жил байж, гадныхан Монголыг дээд зэргээр сонирхож байв. Одоо 100 хоногийн дотор хөрөнгө оруулагчдыг эргүүлэн татаж үнэхээр чадах болов уу?

-Бизнесийн салбарт итгэлийг алдахад их амархан. Сэргээхэд их хэцүү. Тиймээс бид Стратегийн хөрөнгө оруулалтын тухай хуулийг өөрчлөөд Хөрөнгө оруулалтын тухай хууль болгосон. Ингэхдээ гадна, дотно гэж ялгахгүй боллоо. Үүн дээр нэмээд 100 хоногийн дотор ямар шат дараатай ажил хийх вэ гэдгээ санал авч багцлан тодорхой болгоно. Бид хамгийн гол нь хөрөнгө оруулалтыг татахын тулд шууд хөрөнгө оруулалтын сангуудтай харьцаж ажиллах чиглэл яригдаж байна. Зургадугаар сард Business summit чуулга уулзалт болно. Энэ үеэр хөрөнгө оруулагч нартай тулж харьцъя гэсэн бодолтой байгаа. Үүгээр хөрөнгө оруулалтын орчин сайжирсныг танилцуулахаас гадна тодорхой төсөл, хөтөлбөрүүдийг санал болгоно. Цаашдаа улсын, хувийн хэвшлийн хамтарсан хөрөнгө оруулалтын сан байгуулж болох асуудал ч яригдаж байна.

-Эдийн засгийг эрчимжүүлэх ажлаар зээлийн хүү буурах болов уу гэсэн хүлээлттэй байгаа. Хэрхэх бол?

-Банкинд хадгалуулсан хадгаламж дээрээ өндөр хүү авчихаад зээлийн хүү өндөр байна гэж бид гомдоллох эрхгүй. Энэ гаргалгаагаар зээлийн хүү өндөр байгаа бол хадгаламжийн хүүгээ бууруулахад иргэд хүлээн зөвшөөрөх хэрэгтэй. Ер нь зээлийн хүү хэзээ буурах вэ гэхээр, санхүүгийн шинэ эх үүсвэртэй байх хэрэгтэй. Тиймээс гадаадын банкыг оруулж ирэх, санхүүгийн өөр эх үүсвэрийг бүрдүүлэх хоёр арга зам бий. Ингээд л өөр эх үүсвэр гэхээр хөрөнгө оруулалтын сантай болох асуудал хөндөгдөж байгаа юм л даа.

-Таны яриандаа дурдсанаар гадны банкийг оруулж ирэх хэрэгтэй гэлээ. Яг энэ асуудлаар Хятадын банкыг оруулж ирэх саналыг иргэд хоёр өөр байр сууринаас хүлээж авч байна. Үнэхээр оруулж ирвэл Хятадын эдийн засгийн эрхшээлд орчих юм гэж үү. Эсвэл...

-Мэргэжлийн салбарынхны зүгээс хандахад эдийн засагт орж л байгаа мөнгө учраас айж ичих зүйлгүй. Хятадын банкыг оруулж ирнэ гэвэл тусгай зөвшөөрлийг Монголбанк өгч байгаа. Тиймээс эхнээсээ гэрээ, сэлтээ оновчтой хийгээд, явц дунд бүтэхгээргүй бол тусгай зөвшөөрлөө буцаагаад л татчихна. Манай талаас гэрээгээ зөв хийчихвэл эдийн засагт хэрэгтэй л байгаа цус сэлбэлт шүү дээ.

-Төв банк цаашдаа ч мөнгөний зөөлөн бодлогоор явна гэдэг. Үүнийг та санхүүгийн салбарын хүний нүдээр хэрхэн хардаг вэ?

-Хүмүүс нэг л юм ойлгочих хэрэгтэй. Инфляци, ам.доллар хоёр амьдралд нь шууд тусах уу, бизнес хумигдаж, ажилгүй болох нь илүү хор нөлөөтэй юу гэдгийг. Өнөөдөр хүмүүс ам.доллараар бус төгрөгөөр цалингаа авч, өдөр тутмынхаа худалдан авалт хийдэг. Шууд хор нөлөөлөл байх ёсгүй. Гэтэл бид ажилгүй болчихвол орлогогүй болж, хүнд байдалд орно. Тиймээс мөнгөний бодлого чангарах тусам бизнес хумигдаж, ажилгүйдэл ихсэх эрсдэл их болно. Гэхдээ нөгөө талдаа мөнгөний зөөлөн бодлого явуулахаар валютыг зохиомлоор ихэсгээд байна. Ийм бүтцийн гажуудал байгаа. Үүнийг бид дунд болон урт хугацаанд засч, залруулах болно. Импортоос хамааралгүй болвол энэ гажуудал аяндаа арилна. Дотооддоо үйлдвэрлээд эхэлнэ.

-Бизнесийн секторыг дэмжихийн тулд ямар ажил хийх вэ?

-Үүнд бол тодорхой хэдэн чиглэл бий. Товчоор хэлэхэд дээр дурдсан Эдийн засгийн өршөөлийн болон Татварын тухай хуулиуд бизнесийг эрчимжүүлэхэд зориулагдсан хууль. Үүгээр суурь болгоод явна.

-Макро эдийн засгийн асуудлыг онцлохоос гадна төрийн асар том аппаратыг цэгцэлж байж эдийн засгийн хөгжил зөв голдиролдоо орох ёстой гэдэг. Тэгэхээр төрийн байгууллагуудын хувьчлалын асуудлыг 100 хоногийн ажилд авч хэлэлцэх үү?

-Хөрөнгийн зах зээлд нэвтэрч, олон улсын стандартад нийцсэн, илүү ухаалаг менежменттэй болгохын тулд төрийн байгууллагыг хувьчлах нь зарчмын хувьд зөв ч гэсэн одоогийн шатанд бэлэн үү гэдгийг бодолцох л ёстой. Энэ асуудлаар тухайн төрийн байгууллага, үйлдвэр, компани тус бүрийг Төрийн өмчийн хороотой зөвшилцөж байж шийдэх асуудал. Бидний хувьд компаниудын санхүү, нарийн мэдээлэлтэй танилцаагүй байгаа тул одоо үүнийг хувьчилна гэх зэргээр шууд хэлэх боломжгүй байна.


Эх сурвалж: news.mn

“Эдийн засгийг эрчимжүүлэх ажил хэрэгжээд эхэлсэн” “Эдийн засгийг эрчимжүүлэх 100 хоног” арга хэмжээний хүрээнд Монгол Улсын Ерөнхий сайдын дэргэд Эдийн засгийн зөвлөлийг байгуулсан. Зөвлөлд санхүүгийн салбар болон хувийн хэвшлийн 30 орчим төлөөлөгч гишүүнээр элссэн.

Growing Pains: An external analysis of the Mongolian economy

By James Watkins

It is immediately clear to all external observers that Mongolia’s is a unique and fascinating economy. With the fifth highest growth rate in the world in 2013 according to the CIA World Factbook, Mongolia’s ongoing rapid transition from nomadic agriculture to booming industry, and from a planned economy to competitive markets, ever since the democratic revolution in 1990, makes the country a hugely interesting case study for an economist.
However, it is clear that the economic outlook is not all rosy. High inflation creates economic uncertainty, erodes wealth, and imposes unnecessary economic inefficiencies, all of which deter valuable investment, as well as diminishing the proceeds of growth that improve individuals’ living standards. Inflation threatens to derail the economy, as Mongolia increasingly becomes a less attractive recipient of foreign investment.
What problems face Mongolia?
The economy faces dual issues that create the need for both short-term and long-term strategies. The deeper issue is one of economic dependence on export revenues from primary industry (mining) and therefore the country relies on importing most of its manufactured goods, resulting in an unbalanced economy that is vulnerable to external shocks. This is exactly what has happened over the last few years in Mongolia – the business cycle has been almost wholly determined by the mineral demand of its main trading partners, Russia and China, which dipped substantially in 2007-2009, causing an economic crisis in Mongolia. This vulnerability and lack of balance must be tackled by long-term structural plans and fiscal policies pioneered by the government to change the emphasis of economic activity in the country.
The secondary problem is a consequence of the former: high inflation and a rapidly depreciating exchange rate,which are both threatening to run out of control. This must be tackled with short-term monetary policy changes led by MongolBank to stabilize the economy, but should not be considered impetus to change the necessary long-term economic strategy.

What needs to change?

Mongolians often despair that the government is pursuing policies for decades in the future while they see prices rising in the shops week by week, with annual CPI (Consumer Prices Index) inflation rate running at over 12 percent for several months, according to MongolBank, Mongolia’s central bank. There is a very real dilemma here, as structural economic reform is necessary. Consumers’ current woes are clearly a product of structural issues, as inflation is being caused by a weakening MNT as a result of the balance of payments deficit (imports are greater than exports), so the resulting low demand for the MNT makes the currency fall in value). This requires a long-term readjustment to improve the balance of payments by basing more production locally to boost exports and decrease reliance on imports. This would both strengthen the MNT directly, and also ensure that future international shocks, either from rising import costs or falling foreign demand, will have less of an inflationary impact in Mongolia.
However,it is clear that short-term instability in the form of inflation could weaken the strong growth of the last few years, so in addition to this long-term plan, more immediate action must also be taken now to tame inflation.
What policies can achieve both of these goals?
The trade-off between structural reform and short-term prosperity is not as stark as it currently seems. Firstly, accepted economic wisdom since the 1980s holds that the most important tool to tackle short-term inflationary issues is monetary policy. There is a proven link between money supply and prices, and monetary policy has faster effects than other policy options. Therefore, MongolBank should take bolder steps to reign in inflation and to control the exchange rate, as the IMF has proposed. In 2013, the IMF called for MongolBank to tighten monetary policy by halting its mortgage program and price stabilization program which have pumped excess liquidity into the economy, encouraging currency depreciation and inflation. Both programs are still in place. Reversing these policies, as well as more aggressive raising of interest rates to combat inflation, are steps that can quickly and effectively control the immediate inflationary crisis facing Mongolia.
Secondly, the long-term economic strategy that the government is currently pursuing should be promoted using different mechanisms. Currently, approaches such as the “Let’s Construct and Create in Mongolia” program involve high government spending, investment and effective subsidies, all of which create large government budget deficits, only worsening short-term inflation.
According to the IMF, government expenditure increased by 70 percent from 2010 to 2012 – an unsustainable strategy. Instead, incentives to promote domestic production could be created through a discretionary tax system, giving tax breaks to companies in desirable industries (those that manufacture goods locally, to replace imports), and increasing tax revenues in other areas. Industry incentive tax credits have been implemented in many successful economies, principally the United States. This policy shift would achieve the same end-goal that the government is already targeting, while lessening the negative short-term consequences that high government spending currently has.
An external perspective of Mongolia in the world economy
Economists often refer to the “resource curse,” a paradigm whereby most countries rich in natural resources suffer from worse development outcomes than countries who have to import minerals and fuel. This is because the resource-rich economies are excessively biased towards primary industries, leaving the nation open to turbulent and destructive boom-and-bust cycles, as well as the fact that prices rise faster in secondary products than primary goods. Whereas economies across Africa demonstrate the negative consequences of this, other nations such as Norway and the UAE show that an alternative sustainable and prosperous future is possible for resource-rich nations, so long as there is effective macroeconomic management. As these nations have shown, this involves government-sponsored investment in more diversified industries such as manufacturing and services, funded by efficient taxation policies.
All of this can be summarized as targeting sustainable growth. Mongolia’s extraordinarily high growth rates of recent years are to be admired, but they are difficult to achieve continuously without experiencing the negative externalities associated with growth—inflation, environmental degradation, underinvestment in both physical and human capital, and of course the bust that inevitably follows the boom.
Mongolia is well situated for the transition towards diversification and sustainability. Compared to other economies of the same size, Mongolia has a very successful education system (with high levels of numeracy and literacy) and a sound financial system, both of which act as a strong basis to allow a more diversified economy to flourish. The increasing prosperity of all Mongolians will surely be a consequence of this more balanced economic strategy.

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Growing Pains: An external analysis of the Mongolian economy | UBPost News It is immediately clear to all external observers that Mongolia’s is a unique and fascinating economy. With the fifth highest growth rate in the world in 2013 according to the CIA World Factbook, Mongolia’s ongoing rapid transition from nomadic agriculture to booming industry, and from a planned eco…