Mongolia launches its first satellite, diversifies resource dependent economy

Posted on:19 Apr 2017 18:00:24
Mongolia launches its first satellite, diversifies resource dependent economy
19 April 2017 Current Affairs:

Mongolia launched its first satellite on Wednesday, part of its efforts to make use of new technology to diversify its resource-dependent economy.The 1,227-megahertz satellite, called Mongol Sat-1, will help landlocked Mongolia expand its television, telecoms and broadband services, according to a video posted on the official website of Mongolia’s parliament.The satellite was launched in partnership with Asia Broadcast Satellite (ABS), a telecoms and broadcast provider for the region. No details about the cost of the satellite and the launch were provided, and government agencies could not be immediately reached for comment.“The project that began over 10 years ago has been finally accomplished,” said Parliament Speaker Miyeegombo Enkhbold in a meeting with ABS Chief Executive Officer Thomas Choi at the satellite’s launch.”This is a historic advance, and we are proud that Mongolia sends its first satellite off into space.”Enkhbold said the satellite would also be used to help with space research, map making and with preparing for natural disastersMongolia has been adopting new technologies to help connect its most remote and inaccessible regions, and dozens of new television broadcasters have also been launched in the last decade.Mobile phones have also become an essential part of life for Mongolia’s traditional nomadic herders, providing remote settlements with access to banking and weather alerts.The International Monetary Fund has urged Mongolia to diversify its economy as part of a $5.5 billion bailout.Mongolia plunged into an economic and financial crisis last year after a collapse in commodity prices eroded growth and sent its currency, the tugrik, plummeting.


Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 June

20 JUNE
NEWS
19 JUNE
NEWS
18 JUNE
NEWS
17 JUNE
NEWS

Current Affairs 2018 May

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
28 MAY
NEWS

Current Affairs 2018 April

30 APRIL
NEWS
29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS