ASEM Summit could be Mongolia’s time to shine


Mongolia is hosting the Asia-Europe Meeting (ASEM) Summit in the last week of July 2016. Over 7,000 participants are expected to attend the 2016 ASEM Summit, according to Head of the President’s Office P.Tsagaan, who is leading the working group managing hotel accommodations and conference halls for the ASEM meeting.
Mongolia also expects around 1,000 journalists to arrive, following the visits by state heads of 53 countries. The summit is a great chance for Mongolia to get promoted by the guest journalists from all over the world, and observers suggest that it could be a gateway to attracting international tourists and investors to Mongolia.
The accommodations for high ranking international delegates is one of the most important issues that organizers face. Several working groups have been appointed to execute preparations to receive the event guests at a high level. According to working group members, large hotels in Ulaanbaatar are to receive the ASEM guests under the same management.
The ASEM organizing committee decided to carry out joint management at those large hotels by issuing them loans for maintenance and preparations for the event. Preliminary estimates show that 44 hotels with 3,586 rooms and 5,379 beds will receive the ASEM guests.
The ASEM Villa Complex Project is underway in Ikh Tenger to provide suitable accommodations to honored guests from all over the globe. Funding for the project was discussed during the most recent irregular session of the government. The government decided to have Development Bank finance the villa project through a concessional loan, with terms to repay the loan from project revenue.
A total of 150 billion MNT (75 million USD) is to be issued to the hotels in loans for ASEM preparations. Each hotel will receive a soft loan of up to 30 billion MNT.
The hotels to receive the guests are the city’s most well reputed, famous, and most luxurious hotels, such as Shangri-La, Blue Sky, Best Western Premier Tuushin, Ulaanbaatar Hotel, Bayangol, Corporate, Continental, and Puma Imperial. The names of several more hotels, which will start operations next year, are also included in ASEM hospitality plans.
With the loans hotels say they will execute all decor and maintenance work, from buying sheets, beds, and dishes to hiring more security. Also, professional chefs and managers will be invited from overseas to conduct training for hotel staff. The loans are to be paid back in three to five years with an annual interest rate of nine percent.
ASEM consultant Michael Mattison said at a press conference during a visit to Mongolia, that he believes that Mongolia’s hosting of the summit is of great importance, and added that ASEM will give its full support for the successful organization of the summit.
It is very common that investment and development are advanced in the host country following the summit. In addition, this opportunity will open doors for Mongolia to sign long and short-term development and financial agreements, and enhance investor confidence in Mongolia. Other countries will likely become more available to Mongolia for cooperation in cultural spheres.


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