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2016 Investment Climate Statement issued by the US Embassy; link to full text of annual analysis

2016-11-30T18:54:22+00:00 November 30th, 2016|Categories: Home Page|

Prime Minister Erdenebat’s government appears to be addressing many of the issues listed in the US Embassy’s 2016 “Investment Climate Statement,” which was released this past summer after the June elections. As US Ambassador Jennifer Z. Galt stated in remarks on September 22, “The new government has acted quickly both to publicly define problems and to address them.” Ambassador Galt noted that “Government leaders have met with investors and vowed to correct missteps that contributed to Mongolia’s economic decline.”  This annual review of the investment climate is issued by every American embassy around the world for each host country, as [...]

NAMBC Chairman Frank Herbert and board delegation meet with President, Parliament Chairman and Prime Minister

2016-12-03T04:40:24+00:00 December 3rd, 2016|Categories: Home Page|

NAMBC Chairman Frank Herbert and a delegation of the NAMBC board of directors held meetings over a period of four days with senior Mongolian Government leaders in late October and came away cautiously optimistic about Mongolia’s economic recovery and the government’s commitment to welcome back foreign direct investment. Chairman Herbert said he was “impressed” with the sincerity of the government’s “renewed commitment to stability, consistency, and transparency.” Herbert also noted with approval  the extent of sharp official focus on moving forward on essential infrastructure and big mining projects, ratifying the Mongolia-Canada Foreign Investment Protection and Promotion Agreement (FIPA), implementing the US-Mongolia [...]

Ambassador Altangerel signs MOU to bring Philadelphia Symphony Orchestra to Mongolia for concerts, public outreach, June 5-9, 2017

2016-08-04T18:24:16+00:00 May 23rd, 2016|Categories: Archives|

Mongolia’s Ambassador to the US Bulgaa Altangerel and the CEO of the Philadelphia Symphony Orchestra, Allison Vulgamore, signed an MOU in the US Capitol building in Washington DC in March to bring the world-famous Philadelphia Symphony Orchestra to Ulaanbaatar, notionally during June 5-9, 2017. The orchestra will be “in residence” to engage in people-to-people cultural diplomacy, including two full orchestra concerts, as well as a series of special events throughout Ulaanbaatar designed in partnership with Mongolian musicians, local schools and cultural institutions. The Philadelphia Orchestra will be the first Western orchestra to perform in Mongolia. Similarly, it was the first [...]

NAMBC Founder Eugene A. Theroux receives Polar Star medal from Ambassador B. Altangerel

2016-11-23T19:03:17+00:00 May 19th, 2016|Categories: Archives|

Mongolian Ambassador to the US Bulgaa Altangerel presented the Order of the Polar Star, Mongolia’s highest decoration, to Eugene A. Theroux, Senior Counsel Emeritus of Baker & McKenzie law firm, in behalf of President Ts. Elbegdorj, citing Theroux for his contributions to US-Mongolia relations over the past quarter century. Theroux and Jalsa Urubshurow, CEO of Nomadic Expeditions, founded the NAMBC in Washington DC in 1990. One of America’s leading international lawyers, Theroux opened the first foreign law office in Beijing. Theroux served as an NAMBC officer and director continuously for 26 years, a record unmatched by any other member. He [...]

Centerra President Frank H. Herbert is elected NAMBC Chairman; first Canadian, first mining exec

2016-11-23T19:04:34+00:00 May 19th, 2016|Categories: Archives|

Frank Herbert, President of Toronto-based Centerra Gold, has been elected Chair and CEO of the4 NAMBC, the first Canadian and the first mining company executive to serve in that post. Frank has been Vice Chairman of the NAMBC since 2012. Centerra was the first Western foreign company to start mining operations in Mongolia and the first Canadian company to join the NAMBC in the early 1990’s. Frank succeeds Ambassador Pam Slutz, who retired as chairman after three years but will continue to serve on the board of directors.   Prior to becoming Centerra’s President last year, Frank Herbert had been [...]

BCM is organizing delegation from Mongolia to MINExpo 2016, Las Vegas, September 26-28; registration deadline is July 29, 2016

2016-11-23T19:04:08+00:00 May 18th, 2016|Categories: Archives|

The Business Council of Mongolia (BCM), the NAMBC’s brother organization in Ulaanbaatar, is organizing a Mongolian business delegation to participate in the quadrennial MINExpo International 2016, at the Las Vegas Convention Center (Nevada, USA) on September 26-28, 2016, with the support of the US Embassy. The registration deadline is July 29. Please contact BCM at 976+ 7011-4442, [email protected] to register and for additional information. For details on MINExpo, visit Held every four years, MINExpo International is the world's largest mining show with the most comprehensive exhibition of mining equipment, products and services. More than 1,800 exhibitors in twelve exhibit [...]

Mongolia section in latest US State Department Annual Human Rights Report

2016-11-23T19:03:42+00:00 April 30th, 2016|Categories: Archives|

The US Department of State (DoS) released the 2015 Country Reports on Human Rights Practices in Washington DC, on April 13, 2016, which documents the status of human rights conditions in 199 countries and territories around the world. Issued annually for 40 years, these reports are mandated by Act of Congress in the Foreign Assistance Act of 1961 and the Trade Act of 1974. The section on Mongolia comprises 10,885 words. Click HERE for full text of the Mongolia Section of the 2015 DoS Human Rights Report

Jim Dwyer retires as Executive Director of Business Council of Mongolia; Mergen Chuluun appointed as his successor at NAMBC’s brother organization

2016-06-23T04:22:27+00:00 April 26th, 2016|Categories: Archives|

International banker Jim Dwyer retired in April 2016 as Executive Director of the Business Council of Mongolia (BCM), the NAMBC’s brother organization, which he helped found in 2007 and during eight years of distinguished leadership, built into the most important Mongolian business organization in Ulaanbaatar. For the previous four years, Jim had served as Vice President and UB Resident Chief Operating Officer of the NAMBC. Jim has lived in Mongolia since 2001, when he arrived to manage the successful privatizations of Mongolia's two largest commercial banks. His prior 30-year Wall Street career included serving as Global Head of M&A for [...]

Jeff Tygesen, CEO of Turquoise Hill Resources, Is bullish on Mongolia in Bloomberg TV interview

2016-11-23T19:04:51+00:00 April 20th, 2016|Categories: Archives|

Jeff Tygesen, CEO of  Vancouver-based Turquoise Hill Resources (TRQ),  which owns 66% of the massive Oyu Tolgoi copper and gold mine in the south Gobi, was bullish on Mongolia, the start of the Oyu Tolgoi underground phase and future global demand for copper. Interviewed on Bloomberg TV News Canada on June 17, he said he has not heard one word from Rio Tinto about increasing its stake in Turquoise Hill but  a “lot of people have interest in Oyu Tolgoi” which will be one of the three largest copper mines in the world.  Part One of the Tygesen interview -- [...]

Centerra President Frank Herbert nominated to be first Canadian Chairman of the NAMBC, Teddy Baldwin, Baker & McKenzie, as Secretary-Treasurer

2016-10-27T05:27:35+00:00 April 14th, 2016|Categories: Archives|

Bruce Wagner, CEO of Wagner Equipment and Chairman of the 2016 NAMBC Nominating Committee, announced the committee will propose at the Ottawa Annual Meeting & Investors Forum on May 18 a slate of officers for 2016-2017 headed by Frank Herbert, President of Centerra Gold, who would become the NAMBC’s first Canadian Chairman. Frank has been Vice Chairman of the NAMBC since 2012. Centerra was among the first Canadian companies to join the NAMBC in the 1990’s. The Nominating Committee will also propose Teddy Baldwin, a partner in the Washington DC office of Baker & McKenzie, as Secretary-Treasurer to succeed Gene [...]