The UB Post, Mongolia's independent English weekly newspaper, was invited today By Euromoney Conferences to make media partnership for the Mongolia-Asia Investment Forum, which will be held on March 31, 2009 at The Conrad Hotel in Hong Kong.
The UB Post has been sponsoring Euromoney Conferences' Mongolia forums since 2006. The events attracted high level government delegations, as well as several hundreds of investors from more than 50 countries worldwide.
Mongolia is a country which has come a long way turning around its economy in a short space of time, generating an average of 6-8 per cent growth of GDP over the past five years. Recent World Bank reports have announced Mongolia as one of the fastest growing and most stable economies in current turbulent times.The Euromoney Mongolia-Asia Investment Forum will bring together top level government officials, world class economists, some of the biggest investors investing in Mongolia and multilateral companies as speakers to help you identify where the best investment opportunities are in Mongolia and how best to access these opportunities.
Some of the topics the conference will discuss include:
• Mongolia’s economic outlook in the face of a global economic turmoil
• Work in progress: political, economical and legal reforms: what changes need to be made?
• Financing Mongolia’s infrastructure needs
• Developments and reforms in the mining sector
So far, Khan Bank, Trade and Development Bank are participating as lead sponsors, and Newscom Group as co-lead sponsor. Conrad Hong Kong Hotel is located in Pacific Place, 88 Queensway, Hong Kong.
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I think UB is doing a great job by having news items online in English. Unfortunately the website has not been updated regularly in the past couple of weeks. Is this due to illness or lack of support. In any event I would like to report that Ivanhoe have announced the following. Regards Gary Mellon, Sevenoaks, England
March 3, 2009
Ivanhoe Mines welcomes Mongolian Cabinet
endorsement of draft Oyu Tolgoi Investment Agreement
ULAANBAATAR, MONGOLIA – John Macken, President and CEO of Ivanhoe Mines, today welcomed
a Mongolian Government announcement that a comprehensive draft Investment Agreement to facilitate
the construction and development of the Oyu Tolgoi copper-gold mining complex now has been
endorsed in principle by Mongolia’s Cabinet and the country’s National Security Council.
The Mongolian Government said that the Cabinet had conducted its second review of the draft Oyu
Tolgoi Investment Agreement on March 2 and had resolved to present the draft agreement to the State
Great Khural, or national Parliament, for approval. To take effect, the investment agreement for Oyu
Tolgoi requires the approval of the national Parliament, and also the approvals of the boards of
directors of Ivanhoe Mines and its strategic partner, Rio Tinto.
The Cabinet authorized the Minister of Finance S. Bayartsogt, the Minister of Minerals and Energy D.
Zorigt and the Minister of Environment and Tourism L. Gansukh to initial the agreement to be
concluded between the government and Ivanhoe Mines Mongolia.
The Mongolian Parliament currently is meeting in a special session to address budgetary and other
national issues arising from the global financial crisis.
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