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|Start-up Trade Mission: Slush 2023, Helsinki, Finland
We are pleased to invite you to join EuroChamber's Trade Mission to Finland. In Helsinki, you will be able to attend Slush, the world's largest gathering of VC, and EuroChamber will organize a dedicated program for attendees of the trade mission.
Please refer to the program of Slush 2023.
- 27 Nov: Arrival in Helsinki
- 28 Nov: Departure to Estonia and Visit to E-Estonia
- 29 Nov: Attending the Founders' Day (Side-Event of Slush) in Helsinki
- 30 Nov- 1 Dec: Attending Slush 2023 in Helsinki
- 2 Dec: Departure to Mongolia
The cost of trade mission will be EUR 5000 including event participation fee, airplane ticket, accommodation, and in-country transportation. Meals are not included.
Please express your interest here by 20 October, 2023.
|Exporting Mongolian Textiles to Europe: What is Next?
EuroChamber is delighted to extend an invitation to you for the upcoming event, "Exporting Mongolian Textiles to Europe: What Comes Next?" scheduled for October 19, 2023. We are grateful for the generous support of the Italian Embassy in Mongolia, which has made this event possible.
Our event will showcase prominent figures within the industry, offering valuable insights and perspectives.
While this event is free for all attendees, please note that number of seats is limited. We encourage early registration to secure your seat. Early registrants will be given priority seats.
Your participation would be greatly appreciated, and we look forward to your presence on this occasion.
EuroChamber Mongolia is proud to announce that Bodi International LLC has renewed its membership as a Premium member. We are grateful for your generous and continued support!
We thank Sandvik Mongolia for renewing its membership as a Corporate Plus member at EuroChamber Mongolia!
We thank Moët Hennessy Korea for renewing its membership as a Corporate Plus member at EuroChamber Mongolia!
|Orano signs a Protocol for the development and operation of a uranium mine project in Mongolia
Orano signed a Protocol for the development and operation of a uranium mine project in Mongolia The signing took place at a ceremony at the Elysée Palace on 12 October 2023 in the presence of Mr. Emmanuel Macron, President of the French Republic and of Mr. Ukhnaagiin Khürelsükh, President of Mongolia, as well as of Claude Imauven, Chairman of the Board of Directors of Orano, and of Sanjaagiin Narantsogt, CEO of Erdenes Mongol LLC.
This Protocol sets out the framework for an investment agreement that will be mutually beneficial to both partners. The envisaged investment agreement will lay the foundations for a relationship between Orano, and the Mongolian Government set to span several decades, in the development and industrial operation of the Zuuvch-Ovoo uranium mine project located in the Southwestern part of Mongolia, in Dornogovi province. The investment agreement is expected to be signed by the end of the year.
With a 25-year long presence in the country, responsible mining player Orano successfully deployed an industrial pilot in 2021 and 2022, confirming the economic, environmental and societal feasibility of operating the Zuuvch-Ovoo site, a project developed by Badrakh Energy, the joint venture between Orano Mining and the Mongolian state-owned company MonAtom.
The joint Franco-Mongolian project will be based on international standards and best practices in terms of safety, security and the environment, setting a benchmark for the development of the industry in Mongolia.
Through this project, Orano is committed over the long term, alongside communities for responsible mining with a development and cooperation program in favor of local populations.
With the prospect of high uranium demand worldwide over the next few decades, Mongolia is positioning itself as a strategic player and a significant contributor in the global climate effort.
Claude Imauven commented: "I am very proud to sign this protocol today, which extends a relationship we have had with Mongolia for over 25 years. The signature marks a decisive step in this historic partnership.This cooperation will enable us to develop the uranium sector in Mongolia while furthering the Group's strategy of diversifying its mining activities.”
|Cooperation Documents Signed between Mongolia and France
During the State Visit of the President of Mongolia Khurelsukh Ukhnaa to the French Republic, the following documents were signed. These are:
- Financial agreement between the Government of Mongolia and the Government of the French Republic on the financing of a project for additional training for the Air Search and Rescue Unit of the National Emergency Management Agency was signed by Olivia Grégoire, Minister Delegate for Small and Medium-Sized Enterprises, Trade, Small-Scale Industry and Tourism of France and B.Javkhlan, Minister of Finance of Mongolia.
- Financial agreement between the Government of Mongolia and the Government of the French Republic on the financing of the project for the supply of special firefighting vehicles to the National Emergency Management Agency was signed by Olivia Grégoire, Minister Delegate for Small and Medium-Sized Enterprises, Trade, Small-Scale Industry and Tourism of France and B.Javkhlan, Minister of Finance of Mongolia.
- Protocol of negotiations of the Working Group on the development of a draft of the Investment Agreement between the Government of Mongolia and Orano Mining Company was signed by Claude Imauven, Director of Orano Group and S. Narantsogt, CEO of Erdenes Mongolia LLC.
- Memorandum of Understanding between the Ministry of Digital Development and Communications of Mongolia and Thales Alenia Space France of France was signed by Hervé Derrey, President and Chief Executive Officer of Thales Alenia Space of France and N.Uchral, Minister of Digital Development and Communications of Mongolia.
- Memorandum of Understanding between the Bureau of Geological and Mining Research (BRGM) of France and the National Geology Service of Mongolia on geological science and technical cooperation was signed by Christophe Poinssot, Director of Operations of BRGM of France and U.Nyamkhuu, Ambassador Extraordinary and Plenipotentiary of Mongolia to the French Republic.
- Letter of Intent between the Bureau of Geological and Mining Research (BRGM), the General Geophysics Company of France and the National Geology Service of Mongolia was signed by Christophe Poinssot, Director of Operations of BRGM, Nicolas Salaun, Geology Manager of General Geophysics Company of France and U.Nyamkhuu, Ambassador Extraordinary and Plenipotentiary of Mongolia to the French Republic.
|Mining Week-2023 Highlights Transparent and Responsible Mining
"Mining Week-2023", a conference to share the latest news and information on the mining industry, which is a pillar of Mongolia's economy is taking place on October 9-13.
The Ministry of Mining and Heavy Industry and the Mongolian National Mining Association are jointly organizing this year's conference. The conference aims to attract investment, provide investors with government policy and legal reforms of the industry, present new projects, market trends, and the investment environment, openly discuss and seek solutions for the issues facing the industry, and to outlook future development.
More than 300 representatives from 20 countries and more than 3,000 from enterprises and organizations of Mongolia are participating in the conference.
Minister of Mining and Heavy Industry J. Ganbaatar called on investors to invest in the mining sector of Mongolia for mutual benefits, noting that the Government of Mongolia is working to create a favorable environment for long-term stable investment.
In addition to investment, Mining Week-2023 is highlighting transparent and responsible mining. Within the framework of the "New Revival Policy", the Government is focusing on increasing ports, building paved roads, improving infrastructure and logistics, expanding the railway network, shifting the mining sector from extraction to processing, and intensifying industrialization.
At the Conference, representatives of the Government and the private sector made presentations for discussion on the international competitiveness of the mineral resources sector, the investment environment, legal reforms, transportation of mining products, responsible mining, and the environment.
The mining sector dominates the economic sector, making up 23.6 percent of Mongolia's gross domestic product, 24.8 percent of budget revenue, 93.7 percent of total exports, and 82.5 percent of foreign direct investment alone.
The mining exchange system for the open sale of minerals provides an opportunity for export trade to be transparent, and fair, and to trade the products at global market prices. Legal reform continues in the mining sector, the main driver of today’s economy of Mongolia. Specifically, drafts of the Law on Subsoil, the Law on Minerals, the Law on Heavy Industry, and the Law on the National Wealth Fund have been developed, open discussions are being held at the level of the public and stakeholders, receiving opinions of scholars and researchers.
|Foreign Minister Battsetseg Meets Special Ambassador of Bid Committee for Expo 2030 Roma
Foreign Minister of Mongolia Battsetseg Batmunkh received Romeo Orlandi, Special Ambassador of the Bid Committee for Expo 2030 Roma, on October 9, 2023.
Italy has submitted a bid to host the World Expo 2030 in Rome and the Italian delegation provided information on the importance of holding the Exhibition in their country.
The two sides discussed Mongolian-Italian relations and exchanged views on cooperation in the processing and production of wool and cashmere products.
Three countries are in the running to host World Expo 2030: the Republic of Korea (in Busan), Italy (in Rome), and the Kingdom of Saudi Arabia (in Riyadh). The host country will be elected by the Member States of the Bureau International des Expositions during the Organisation’s 173rd General Assembly, to be held on November 28, 2023.
|Energy Minister Choijilsuren: An agreement has been reached to finalize a loan agreement with China for the Erdeneburen Hydropower Plant.
According to Minister of Energy B. Choijilsuren, President of Mongolia U. Khurelsukh is set to participate in the "Belt and Road" Forum on October 17-18, 2023. During the forum, the Governments of Mongolia and China will sign several important documents. Notably, both parties have reached an agreement to conclude a loan agreement for the Erdeneburen hydropower plant, with relevant decisions from Chinese government agencies already in place. The Mongolian side has also made the necessary preparations for this agreement.
China will provide 95 percent of the financing for the Erdeneburen hydropower plant construction project, with a total cost of USD 266 million. The loan will be disbursed over a 20-year period, featuring a 2 percent interest rate, and the repayment process will begin after seven years.
As per the government's directive, the Minister of Energy is tasked with signing the loan agreement. The Western Region Energy System will act as the borrower, representing the government, and the Ministry of Finance will oversee the financial aspects of this agreement.
If the loan agreement is finalized in October, the hydropower station is expected to be operational within five years, and loan repayments will begin two years after its commissioning.
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