Three Mongolians appointed to OT Board

P.Tsagaan says Mongolians should benefit from mining sooner

On May 5, the State Property Committee appointed three authorized members to represent Mongolia on the Board of Directors for Oyu Tolgoi LLC. N. Bagabandi former President of Mongolia, P.Tsagaan advisor to the current President, and Ch. Ganbold, Head of the Board of Directors of Xac Bank were appointed. P. Tsagaan told the MONTSAME reporter, “Oyu Tolgoi Project is a large scale project. Establishing the project is an act of resolving legal and political matters first. However, I think that people who represent the Mongolian side in the project are responsible to expedite work so that Mongolia can implement and enjoy the actual benefits from the project sooner. Being appointed to this position, I am bearing very important responsibilities.” He also underlined the importance of considering national independence, security and foreign policy, and in particular, avoiding too much dependence on one country, and being separate from other countries, as well as revering friendship with countries while bringing foreign investment to national strategic deposits. To determine the other two members to represent Mongolia, P. Tsagaan said, “I think that former President N. Bagabandi is a realistic person. I was Finance Minister when he was President. Actually, people know he is diligent. For Ch. Ganbold, he is well educated and a good manager. We collaborated in the cultural field. He could gain success in careers within a short period and became head of the Board of Directors of Xac Bank. Therefore it means he has been selected with high criteria. He is not a ‘freshman’.” He did not confirm information of some sources about receiving salaries of USD 40,000. He said, “It may be at that rate for a whole year. If not, it means we will be getting a higher salary than the US President. I do not know about it. I think we may be given fixed pay if we work hard. I’m not doing this for the high salary. I am receiving a trusted responsibility for doing right things for Mongolians, agreeing with foreign investors and protecting the national interest. It is a very responsible job. Of course it is very difficult. For me, I previously worked as head of the Board of Directors of Mongolian side at the Mongolrostsvetmet Joint Venture. In that period, I disagreed and agreed with the Russians many times and resolved issues positively. Ownerships of the two sides were 49x51. However in the Oyu Tolgoi Project, the proportion stands at 34x66. It is too unbalanced. I think that the investor is experienced and civilized in following Mongolia’s history, culture, legislations and agreements and obeying the agreement properly. Although there is nothing to fear, a minority is a minority. There is a lot to do. I believe my experience and knowledge studied and gained thanks to the Mongolian people in the past is needed. I will try hard"

source: The Mongol Messenger" newspaper


Post a Comment

Facebook page

Powered by Blogger.


Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Israel Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Kyrgyzstan Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and US Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive