Ulaanbaatar
Minister of Food, Agriculture and Light Industry presents current issues and measures
Economy
Ulaanbaatar /MONTSAME/ P.Sergelen, Minister of Food, Agriculture and Light Industry presented the current issues and measures of food and light industry to the Members of Parliament on May 17.
From 126 thousand 560 entities registered in the Legal Entities Registration, 64 thousand 301 are actively operating. And 81 percent of them, which is 51 thousand 917 belong to small and middle enterprise category. Some 719 thousand 172 people work in these SMEs, which is 67 percent of the total labor force, while 297 thousand 828 people are herders and the rest 210 thousand 148 are self-employed.
SMEs compromise 17.8 percent of GDP and produce 2.3 percent of the total export products. Dividing them with the number of workers:
From 126 thousand 560 entities registered in the Legal Entities Registration, 64 thousand 301 are actively operating. And 81 percent of them, which is 51 thousand 917 belong to small and middle enterprise category. Some 719 thousand 172 people work in these SMEs, which is 67 percent of the total labor force, while 297 thousand 828 people are herders and the rest 210 thousand 148 are self-employed.
SMEs compromise 17.8 percent of GDP and produce 2.3 percent of the total export products. Dividing them with the number of workers:
- 85 percent of them have 1-9 workers
- 7 percent have 10-19 workers
- 5.2 percent have 20-49 workers
- 2.8 percent have over 50 workers.
As for the income range:
- From the 88,896 entities that make up to total of MNT 1.5 billion, 37,821 of them aren’t operational
- 4,837 of them are non-trading companies
- 30,123 of them earn up to MNT 50 million
And from the 51,075 SMEs, 60 percent of them consist of micro enterprises.
Minister of Food, Agriculture and Light Industry P.Sergelen noted that, in order to develop SMEs, improving legal environment and competitiveness, increasing financial accessibility and involvement, supporting market expansion, upgrading technology, making researches on innovation and technologies, providing support by state purchases, import and other tax policies, seeking export opportunities to the countries with free trade agreement, holding international trade fairs, expanding transboundary trades and exchanging practice on improving workforce capacity are necessary.
Minister of Food, Agriculture and Light Industry P.Sergelen noted that, in order to develop SMEs, improving legal environment and competitiveness, increasing financial accessibility and involvement, supporting market expansion, upgrading technology, making researches on innovation and technologies, providing support by state purchases, import and other tax policies, seeking export opportunities to the countries with free trade agreement, holding international trade fairs, expanding transboundary trades and exchanging practice on improving workforce capacity are necessary.
Source: gogo.mn
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