DOCSLIB.ORG

Mongolia 101 Mongolia

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Mongolia 101 Mongolia Res ource Investment Res Cap Capital January 2 4 2011 Res Cap Mongolia 101 Initiating country coverage on one of the last remaining mining frontiers Res ource Investment Res Cap Capital January 24 2011 ResCap Mongolia 101 – One of the Last Remaining Mining Frontiers Mongolia - One of the Key Global Economic and Mining Stories of 2011 Nestled between two political giants - China and Russia, Mongolia is a vastly undeveloped resource rich country on the brink of an economic transformation. Thanks to positive recent political and economic developments, Mongolia is set for spectacular growth which is becoming noticed globally. And backed by its resource rich landscape of world class deposits, Mongolia has been coined the “Saudi Arabia of Coal” with strong parallels to previous natural resource booms around the world. The Mongol Rally Has Literally Just Begun A rally to attract foreign investment, re-develop the stock exchange, re-urbanize much of the population into sustainable housing and reignite a process to unlock much of the country’s wealth in state owned mineral assets, has brought many foreigners rallying into Ulaanbaatar. The potential for discovery of more world class assets such as Oyu Tolgoi has unlocked a wave of financiers and geologists flooding into Mongolia. But quite simply the fascination of the unknown in a country not very well understood but linked with enormous potential has naturally played into human nature and curiosity – root to many visitors arriving in Ulaanbaatar, financiers and tourists alike. Patriotism and History Underpinning Development Modern humans first arrived in Mongolia over 40,000 years ago and battled through waves of liberation, bloodless democratic revolution and one of the harshest climates on earth, now prospering through a young but developing free- market economy. Mongolia is a nation proud to have partners but also very proud to remain unique and independent and central to success in Mongolia is prospering through strong, local partnerships. ResCap Mongolia 101 Country Guide 2011 will be a fascinating year and a potential turning point for Mongolia. As investors continue to ask the questions of “how, what, where and when” in Mongolia, ResCap has developed a user guide to the country. This ResCap Mongolia 101 is an account of Mongolia in a detailed handbook as part of our initiation of coverage on one of the last remaining mining frontiers. ResCap Mongolia 101 P a g e | 2 Res ource Investment Res Cap Capital January 24 2011 Abstract Abstract Mongolia's national identity has been dominated by the talismanic figure of Chinggis Khan. This legendary warrior-nomad conquered vast tracts of Central Asia in the 13th century to found the Mongol Empire, which remains the largest contiguous empire to have existed in the history of the world. He remains the subject of great national pride, and understanding the history, the culture, the laws, politics and the economy can not only help investors understand the nature of these proud, nomadic people and Mongolian society, but also help them better judge where to put capital to work in this large, resource-rich country. ResCap Mongolia 101 P a g e | 3 Res ource Investment Res Cap Capital January 24 2011 Executive Summary 1 Executive Summary 1.1 History Chinggis Khan founded the Mongol Empire in 1206. By the end of the XVII century, most of Mongolia had fallen under the rule of the Qing Dynasty. With the demise of the Qing Dynasty in 1911, Mongolia declared independence, but had to struggle until 1921 to firmly establish de facto independence from China. Mongolia came under strong Soviet influence in 1921. The Mongolian People's Republic was declared in 1924. After the collapse of the Soviet Union, Mongolia saw its own peaceful Democratic Revolution in early 1990. 1.2 Government Mongolia follows a parliamentary type of governance. The highest executive power is the Prime Minister. The President of Mongolia has limited powers but acts as the Head of State and Commander-in-Chief of Mongolia’s army. The biggest political parties are the Mongolian People's Party (MPP), formerly the Mongolian People's Revolutionary Party (MPRP), and the Democratic Party (DP). Since the Democratic Revolution, there has been continuous replacement of governments. The current Prime Minister is Sukhbaataryn Batbold and the current President is Tsakhiagyn Elbegdorj. In 2008 a coalition government was formed between the MPP and DP, which facilitated the greatest advancements in the economy. “The State Great Khural” or the “Parliament” is the legislative authority of Mongolia and consists of a single chamber with 76 seats, led by the house Speaker. 1.3 Foreign Relations “In developing its relations with other countries, Mongolia is guided by universally recognized principles and norms of international law as defined in the UN charter.” ResCap Mongolia 101 P a g e | 4 Res ource Investment Res Cap Capital January 24 2011 Executive Summary Mongolia has bilateral relations with 140 and diplomatic relations with 149 countries. Mongolia almost certainly has the strongest relationship with Russia. Russia helped Mongolia to ward off the Chinese invasion. In December 2010, Mongolia and Russia signed an agreement to develop the Dornod uranium deposit. Russia holds 190 reports on Mongolia’s 6 uranium fields, while Mongolia only has access to 34. As the Soviet Union had been Mongolia’s main ally and the most influential neighbouring power up until 1990, foreign relations between the PRC and Mongolia used to be predominantly determined by the PRC and USSR relations. With adoption of democracy and transition to a market economy, Mongolia’s relationships with China began to improve. Currently the PRC is the largest trading partner of Mongolia. Mongolia will soon have the capacity to supply 25-40 mtpa of coal to the PRC. The People’s Republic of Mongolia established diplomatic relations with Japan in February 1972. The ties were strengthened after the Democratic Revolution in Mongolia. Japan has historically been the largest aid benefactor to Mongolia, until the US had approved a “Millennium Challenge Compact” aid worth $285 million in October 2007. 96% of Japan’s rare-earth metals are imported from China and the latter restricted their export quotas by 72% and 35% in H2 2010 and Q1 2011 respectively. Japanese geologists and scientists launched exploration of rare- earth elements in Mongolia. The People’s Republic of Mongolia established diplomatic relations with North Korea in October 1948. Mongolia is one of the few countries in the world that maintain warm relations with the Democratic People's Republic of Korea (DPRK). Mongolia endeavours to maintain close relationships with European countries. In 1991, Mongolia signed an economic cooperation agreement with the UK, and investment promotion and protection agreements with France and Germany. Canada and Mongolia established bilateral ties in November 1973. Canadian FDI thus far has been mainly flowing to the mineral resource sector of Mongolia. Negotiations are ongoing on the signing of a foreign investment promotion and protection agreement (FIPA). The United States agency for International Development (USAID) has continuously been one of the key aid donors to Mongolia. In October 2007, the Mongolian government signed a Compact agreement with the Millennium Challenge Corporation (MCC) for the receipt of a grant worth $285 million. ResCap Mongolia 101 P a g e | 5 Res ource Investment Res Cap Capital January 24 2011 Executive Summary 1.4 Geography and Climate Mongolia is ranked 19 th in the world by country size after Iran. It covers 1.56 million square km. The climate is generally dry and the temperature varies significantly across the year, making the winters extremely cold and summers very warm. 1.5 Administrative Regions Mongolia is divided into 21 aimags. Each aimag is subdivided into a number of soums. 1.6 Economy Economic activity in Mongolia has historically been focused on agriculture and herding, but recent discoveries of mineral deposits have attracted large levels of foreign direct investment (FDI) into the mining sector. The global economic downturn in late 2008/early 2009 had a harsh impact on Mongolia. Mongolia is about to experience a period of remarkable growth. The IMF forecasts the real GDP growth to be over 25% in three years time driven by advancements in the mining sector. In 2010, the real GDP growth was 6.1%, nominal growth was 25.3% (GDP reaching $6.6 billion), general government budget showed a surplus of $611 million and the external trade deficit amounted to $378.7 million (both exports and imports were up around 53%) Inflation smoothed down to 13% in 2010 from the soaring 36% in August 2008. FDI into the country has been growing 30% annually and is expected to reach $11 billion in the next four years. In 2010, the total industrial output increased 10% to approximately $1.5 billion 9at 2005 constant prices) compared to the previous year In December 2010, the MNT/USD rate gained in value 15% since January 2010, when it was 1,446, which made it the second best-performing currency against the dollar in 2010. By the end of December 2010 Mongolia’s official international reserves has exceeded $2.0 billion, growing 82.6% yoy. 1.7 Banking Sector The Mongolian financial sector consists of 14 commercial banks, 188 NBFIs and 207 S&C (saving and credit) Cooperatives. ResCap Mongolia 101 P a g e | 6 Res ource Investment Res Cap Capital January 24 2011 Executive Summary The minimum capital requirement for commercial banks ordered by the Bank of Mongolia is MNT 8.0 billion ($6.4 million) In Q3 2010 non-performing loans with arrears in principals as percentage of total outstanding loans declined to 17% from 25% in November 2009. General levels of NPLs were considerably high throughout 2010.
Load more

Recommended publications
  • Doing Business G in Mongolia 2012
    www.pwc.com/mn Doing Business Guide 2010 - 2011 Doing Business Guide in Mongolia 2012 - 2013 Doing Business Guide 2012 - 2013 CONTENTS KEY STATISTICS 1. MONGOLIA – APROFILE 1.1 Introduction ..............................................................................................................................................................................................................................65 1.2 Government structure.......................................................................................................................................................................................86 1.3 Legal System ................................................................................................9 1.4 People ..........................................................................................................9 1.5 Economy ....................................................................................................11 1.6 Foreign Trade ............................................................................................13 1.7 Mining in Mongolia....................................................................................13 2. BUSINESS ENVIRONMENT 2.1 Business Climate........................................................................................15 2.2. Free Trade Zones................................................................................................................................................................................. 1615 2.3 International Agreements..........................................................................16
    [Show full text]
  • Committee on the Human Rights of Parliamentarians
    138th IPU ASSEMBLY AND RELATED MEETINGS Geneva, 24 – 28.03.2018 Governing Council CL/202/11(b)-R.2 Item 11(b) Geneva, 28 March 2018 Committee on the Human Rights of Parliamentarians Report on the mission to Mongolia 11 - 13 September 2017 MNG01 - Zorig Sanjasuuren Table of contents A. Origin and conduct of the mission ................................................................ 4 B. Outline of the case and the IPU follow up action ........................................... 5 C. Information gathered during the mission ...................................................... 7 D. Findings and recommendations further to the mission ................................ 15 E. Recent developments ................................................................................... 16 F. Observations provided by the authorities ..................................................... 17 G. Observations provided the complainant ....................................................... 26 H. Open letter of one of the persons sentenced for the murder of Zorig, recently published in the Mongolian media ................................................................ 27 * * * #IPU138 Mongolia © Zorig Foundation Executive Summary From 11 to 13 September 2017, a delegation of the Committee on the Human Rights of Parliamentarians (hereinafter “the Committee”) conducted a mission to Mongolia to obtain further information on the recently concluded judicial proceedings that led to the final conviction of the three accused for the 1998 assassination of Mr. Zorig
    [Show full text]
  • Harvard Polo Asia by Abigail Trafford
    Horsing Around IN THE HIGHWAYS AND BYWAYS OF POLO IN ASIA We all meet up during the six-hour stopover in the Beijing Airport. The invitation comes from the Genghis Khan Polo Club to play in Mongolia and then to head back to China for a university tournament at the Metropolitan Polo Club in Tianjin. Say, what? Yes, polo! Both countries are resurrecting the ancient sport—a tale of two cultures—and the Harvard players are to be emissaries to help generate a new ballgame in Asia. In a cavernous airport restaurant, I survey the Harvard Polo Team: Jane is captain of the women’s team; Shawn, captain of the men’s team; George, the quiet one, is a physicist; Danielle, a senior is a German major; Sarah, a biology major; Aemilia writes for the Harvard Crimson. Marina, a mathematician, will join us later. Neil and Johann are incoming freshmen; Merrall, still in high school, is a protégé of the actor Tommy Lee Jones—the godfather of Harvard polo. And where are the grownups? Moon Lai, a friend of Neil’s parents, is the photographer from Minnesota. Crocker Snow, Harvard alum and head of the Edward R. Murrow Center at Tufts, is tour director and coach. I am along as cheer leader and chronicler. We stagger onto the late-night plane to Ulan Bator (UB), the capital of Mongolia, pile into a van and drive into the darkness—always in the constant traffic of trucks. Our first camp of log cabins is near an official site of Naadam—Mongolia’s traditional summer festival of horse racing, wrestling and archery.
    [Show full text]
  • Report of the Portfolio Monitoring Mission in Mongolia
    AFB/B.28/5 3 October 2016 Adaptation Fund Board Twenty-eighth Meeting Bonn, Germany, 6-7 October 2016 Agenda item 9 REPORT OF THE PORTFOLIO MONITORING MISSION IN MONGOLIA AFB/B.28/5 INTRODUCTION Context and scope of the mission 1. As part of the Knowledge Management (KM) Strategy and the secretariat’s work plan for FY16 which was approved by the Adaptation Fund Board (the Board) at its twenty-fifth meeting (Decision B.25/19), the Adaptation Fund Board secretariat (the secretariat) conducts missions to projects/programmes under implementation to collect and analyze lessons learned through its portfolio. So far, such missions have been conducted in Ecuador, Senegal, Honduras, Nicaragua, Jamaica, Argentina and Uruguay. This report covers the FY16 portfolio monitoring mission that took place in June 2016 in the project “Ecosystem Based Adaptation Approach to Maintaining Water Security in Critical Water Catchments in Mongolia” implemented by the United Nations Development Programme (UNDP). 2. The mission targeted this project for the following reasons: a) it enables to explore implications of the Ecosystem-Based Adaptation (EBA) approach, including its efficiency, effectiveness and sustainability; b) it may allow drawing lessons from the valuation of ecosystem services; c) it may allow taking stock of the arrangements for monitoring and evaluation, and the value of mid-term review in adjusting progress towards results. Methodology 3. The secretariat was represented by a senior climate change specialist and a junior professional associate. An Adaptation Fund Board alternate member was also part of the delegation. The mission was carried out from 12 to 18 June, and included field visits to project sites.
    [Show full text]
  • Life on the Open Road… Those Were the Days!
    8 JULY 2020 The Archer - www.the-archer.co.uk Life on the open road… those were the days! By David Melsome With nowhere to go over the last few months in her Car with character beloved 15-year-old Suzuki car, Tess Hadik has at least All competing cars have to had the memories of how the faithful four-wheeler took be under 1200cc. Tess bought her third-hand Suzuki over the her and her mum on a 17,000-mile round trip through phone from an unknown dealer some of the world’s harshest terrain. just a few weeks before the rally and it turned out to be a mini-marvel. Tess, 20, said: “My mother and I have zero mechanical knowledge but this was no problem thanks to our incred- ibly reliable yet tiny car. It has become our pride and joy. I graf- fiti painted him and named him Isibindi, which means brave warrior in Zulu.” Warm welcomes Change of transport: Astrid, left, and Tess on horseback in Highlights of their immense Kyrgyzstan, central Asia journey through 26 countries were watching horseback did not know existed, discov- and macular degeneration. archery and bone throwing in ering their culture and music Donations to the society are the World Nomad Games in and savouring different foods,” still welcome. Kyrgyzstan, and experienc- says Tess. “It was also amazing And as for Isibindi, despite Off road: Tess Hadik gives her beloved Suzuki a wash at home in ing the generosity of people because my mother and I got on a few squeaks and rumbles, he East Finchley through the whole of Iran, so well and had so much fun!” is still going strong.
    [Show full text]
  • Investment in Mongolia
    Investment in Mongolia KPMG in Mongolia 2016 Edition CONTENTS 1 COUNTRY OUTLINE 6 1.1 Introduction 6 1.2 Geography and climate 6 1.3 History 6 1.4 Political system 7 1.5 Population, language and religion 7 1.6 Currency 8 1.7 Public holidays 8 2 BUSINESS ENVIRONMENT 10 2.1 Mongolian economy overview 10 2.2 Economic trading partners 11 Exports 11 Imports 11 2.3 Business culture 11 2.4 Free trade zones 12 2.5 Foreign exchange controls 12 3 INVESTMENT CLIMATE FOR FOREIGN DIRECT INVESTMENT 14 3.1 Foreign investment opportunities 14 3.2 Foreign investment legislation 14 3.3 Commencing business in Mongolia 15 Practical considerations 15 Registration 15 Mergers, acquisitions and restructurings 16 Exit strategy 16 3.4 Financing 17 3.5 Intellectual property 17 Copyright 17 Trademarks and trade names 17 Patents 18 4 REPORTING, AUDITING AND THE REGULATORY ENVIRONMENT 20 4.1 Financial reporting 20 4.2 Auditing 21 4.3 Regulatory environment 21 Competition law 21 © 2016 KPMG Audit LLC, the Mongolian member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 2 / Investment in Mongolia Corporate governance 22 Land ownership and use 22 Anti-corruption law 23 Arbitration 23 5 TAXATION 25 5.1 General tax law 25 Overview 25 Rights and duties – taxpayers and tax authorities 26 Tax reporting and payments 26 Tax audits 26 Debt collection 27 5.2 Corporate tax 27 Overview of the corporate tax system 27 Taxable income 28 Losses 28 5.3 Transfer pricing 29 5.4 Double tax agreements
    [Show full text]
  • MONGOLIA CONSTRAINTS ANALYSIS a Diagnostic Study of the Most Binding Constraints to Economic Growth in Mongolia
    The production of this constraints analysis was led by the partner governments, and was used in the development of a Millennium Challenge Compact or threshold program. Although the preparation of the constraints analysis is a collaborative process, posting of the constraints analysis on this website does not constitute an endorsement by MCC of the content presented therein. 2014-001-1569-02 MONGOLIA CONSTRAINTS ANALYSIS A diagnostic study of the most binding constraints to economic growth in Mongolia August 18, 2016 Produced by National Secretariat for the Second Compact Agreement between the Government of Mongolia and the Millennium Challenge Corporation of the USA With technical assistance from the Millennium Challenge Corporation i Table of Contents Contents Table of Contents ............................................................................................................................................... i List of Figures ............................................................................................................................................... iv List of Tables ................................................................................................................................................ vi Glossary of Terms .......................................................................................................................................... viii 1. Executive Summary .................................................................................................................................
    [Show full text]
  • The Rotarian, One Rotary Understanding How Another Culture Thinks
    Mongol Rally adventurers get ready to have their passports checked at the Uzbekistan -.' border. For more, see page 30. .- contents VOU88 NO.11 IN FOCUS Planes, trains, automobiles, and how I found 30 myself running in a Mongolian marathon Here's a plan: Get an old car, start up the engine in England, and drive in a rally to Mongolia. Don't forget to raise money for charity and meet interesting people. Story and photography by Scott Brills FEATURES Day breaks for Alzheimer's families 48 Rotarians develop a program for patients and caregivers. Photography by Monika Lozinska-Lee Text by Eve Neiger The sound of virtue 52 Short-term ethical behavior may feel good in the moment, but will it matter? By Joe Queenan Illustration by Guy Billout Rotary stories 56 Radical politics disrupted his childhood, then Rotary helped shape his future. By Jason Grotto Illustration by Josh Cochran GLOBAL OUTLOOK Disaster relief and recovery 59 Quick response is important, but recovery is critical. DEPARTMENTS COLUMNS 6 Letters President's message 11 Up front Rotarian efforts in post-earthquake Haiti • Rotarian mountaineer Royal Robbins 4 Contributors page • Haiti earthquake recovery 23 Culture • Tackling polio with the Language is more Jacksonville Jaguars than vocabulary 21 Calendar 27 Technology High-tech etiquette 69 Insider • Outreach to youth 72 Crossword • Rotary coordinators 80 Facts of the matter • Health camp in New Delhi Mothers • Resource guide: Rota ry basics ON THE COVER Running through the Gobi. (Photography courtesy of Scott Brills) fotarian® CONTRIBUTORS Editor in chief • JOHN REZEK Creative director DEBORAH LAWRENCE Senior editor, features BARBARA NELLIS Senior editor, departments JENNY LLAKMANI Deputy senior editor JANICE S.
    [Show full text]
  • The Great Naadam Festival of Mongolia 11 Day Tour to Ulaanbaatar, Elsen Tasarkhai, Karakorum, Hustai National Park Day 1 05 Jul 2019 Sydney  Beijing Karakorum Museum
    The Great Naadam Festival of Mongolia 11 day tour to Ulaanbaatar, Elsen Tasarkhai, Karakorum, Hustai National Park Day 1 05 Jul 2019 Sydney ñ Beijing Karakorum Museum. Overnight at camp Naadam Festival is the biggest Tonight you fly with Air China from Sydney Munkh Tenger or similar. to Beijing. festival in Mongolia. In the Day 5 09 Jul Karakorum Hustai opening ceremony of the Day 2 06 Jul Beijing ñ Ulaanbaatar National Park Meal: B/L/D Meal: D Today, we drive back towards Ulaanbaatar Naadam Festival, we will Arrive in Beijing early in the morning then with an overnight at Hustai national cheer on the dancers, athletes, take a connecting flight to Ulaanbaatar, park. The national park is surrounded by the capital of Mongolia. You are met at mountains, and is made up of thick pine wrestlers, archers, horse riders the airport after customs formalities and forests and lush meadows, which are home transferred to your hotel. The remainder of and musicians. Tour around to the Przewalski endangered wild horse the day is at leisure. Check in at 4* hotel in "Takhi" and other wildlife. Arrive at the ger Ulaanbaatar city, wander the city center for 2 nights. camp by lunch. We then trek through the national park to spot endangered Takhi on the grassland, sleep in Day 3 07 Jul Ulaanbaatar Elsen wild horses in the afternoon. Optional traditional Gers, devour Tasarkhai (Bayangobi) horse ride. Overnight at a Ger. Meal: B/L/D Mongolian barbecue in the After breakfast, we travel overland for 4 Day 6 10 Jul Hustai Ulaanbaatar grasslands, and experience hours westward towards Karakorum and Meal: B/L/D break your journey at the picturesque We drive to the east to Ulaanbaatar, and the joy of Mongolia! Bayan Gobi sand dunes also known as after arriving start the city tour.
    [Show full text]
  • Scanned Using Book Scancenter 5033
    Globalization ’s Impact on Mongolian Identity Issues and the Image of Chinggis Khan Alicia J. Campi PART I: The Mongols, this previously unheard-of nation that unexpectedly emerged to terrorize the whole world for two hundred years, disappeared again into obscurity with the advent of firearms. Even so, the name Mongol became one forever familiar to humankind, and the entire stretch of the thirteenth through the fifteenth centuries has come to be known as the Mongol era.' PART II; The historic science was the science, which has been badly affect­ ed, and the people of Mongolia bid farewell to their history and learned by heart the bistort' with distortion but fuU of ideolog}'. Because of this, the Mong ­ olians started to forget their religious rituals, customs and traditions and the pa­ triotic feelings of Mongolians turned to the side of perishing as the internation ­ alism was put above aU.^ PART III: For decades, Mongolia had subordinated national identity to So­ viet priorities __Now, they were set adrift in a sea of uncertainty, and Mongol ­ ians were determined to define themselves as a nation and as a people. The new freedom was an opportunity as well as a crisis." As the three above quotations indicate, identity issues for the Mongolian peoples have always been complicated. In our increas­ ingly interconnected, media-driven world culture, nations with Baabar, Histoij of Mongolia (Ulaanbaatar: Monsudar Publishing, 1999), 4. 2 “The Political Report of the First Congress of the Mongolian Social-Demo ­ cratic Party” (March 31, 1990), 14. " Tsedendamdyn Batbayar, Mongolia’s Foreign Folicy in the 1990s: New Identity and New Challenges (Ulaanbaatar: Institute for Strategic Studies, 2002), 8.
    [Show full text]
  • Mongolian European Chamber Of
    MONGOL Since 1991 the MESSENGER 500 ¥ No. 07-08 (1076-1077) MONGOLIA’S FIRST ENGLISH WEEKLY PUBLISHED BY MONTSAME NEWS AGENCY Friday, February 17, 2012 Mongolia Economic Happy Tsagaan Sar! Forum planned for early March The Mongolian Economic Forum 2012 will run on March 5-6. At a February 10 press conference, organizers of the forum reported about the preparations and measures for the forum. As of information given by MP S. Oyun; Deputy Finance Minister Ch.Gankhuyag; Ch.Khashchuluun, head of the National Development and Innovation Committee; and P.Tsagaan, senior advisor to the President, the forum that is to be organized for the third time, will run this year under the motto ‘Together for Development’. The forum will have sub-meetings under themes on economic development, social policy and competitiveness, and bring together over 1000 foreign and domestic participants. During the forum, it is planned to publicly introduce Mongolia’s development forum until 2021 issued by Open Society. MP S. Oyun said, “In reality, why isn’t poverty decreasing while the economy has grown over the past five or six years. We believe that issues on how to decrease poverty and what should be done for the fruits of economic growth to improve livelihoods will develop into hot discussions during the forum. For instance, the statistical figures on poverty percentages are very confusing. The National Statistical Committee evaluates the poverty rate at 39 percent while the World Bank says it is lower using a different methodology to evaluate poverty. Therefore,
    [Show full text]
  • The Great Naadam Festival of Mongolia
    The Great Naadam Festival of Mongolia 10 day Tour to Ulaanbaatar, Elsen Tasarkhai, Karakorum, Hustai National Park & Hustai Day 1 05 Jul 2018 Sydney ñ Beijing Empire and today, you still can see remnants Naadam Festival, the biggest Tonight you fly with Air China from Sydney to of the long standing walls that encircle festival in Mongolia. In the Beijing. Overnight flight. the city. This afternoon visit the newly established Karakorum Museum. Overnight opening ceremony of the Day 2 06 Jul Beijing ñ Ulaanbaatar at Camp Munkh Tenger or similar. Naadam Festival, we will Meal: D cheer on the dancers, athletes, Arrive in Beijing early in the morning then Day 5 09 Jul Karakorum Hustai take a connecting flight to Ulaanbaatar, National Park Meal: B/L/D wrestlers, archers, horse riders the capital of Mongolia. You are met at This morning’s drive takes us to the Hustai and musicians. Tour around the airport after custom formalities and National park, where Takhi wild horses graze Ulaanbaatar city, wander transferred to your hotel. The remainder of peacefully with the other wild life. Upon the day is at leisure. Check in at 4* hotel in arrival at the camp we will have lunch. The on the grassland, sleep in the city center for 3 nights. national park is surrounded by mountains, traditional Gers, devour thick pine forests and lush meadows which Mongolian barbecue in the Day 3 07 Jul Ulaanbaatar Elsen are home to the Przewalski endangered Tasarkhai Meal: B/L/D wild horse "Takhi" and other wildlife. Watch grasslands, what a joy and After breakfast we depart to the west a documentary and visit the small museum.
    [Show full text]