Ulaanbaatar
SME boosting subprograms discussed
Economy
Ulaanbaatar /MONTSAME/ A discussion on subprojects “Made in Ulaanbaatar” and “Partnership of local industries’ was held at Tuushin hotel. These subprojects put goals to create jobs and improve competitiveness of trade, industries and services through implementing flexible investment and market policy targeted to small and medium enterprises and cooperatives, which run their activities in Ulaanbaatar, supporting producers in cluster, increasing sales of products with label and mark “Made in Ulaanbaatar” by promoting them.
Chairman of the capital Governor’s Office M.Otgonbayar said - 'One family One job program was approved by the Citizens Representative's Meeting of the capital with aims to achieve 60 per cent employment, making that every family have stable income by being employed. Now we are planning the two subprograms. It is time to boost scientific and technological achievements and introduce them in practice, grow the economy with product innovations and develop national production”.
There are 72182 companies and entities in the business registration data nationwide and 64 per cent or 46153 of them are operating in Ulaanbaatar, among which 8219 companies or 17.8 per cent belong to industrial sector. In 2009-2016, over 20 thousand citizens and legal bodies enjoyed VAT and customs tax exemption or reduction worth of MNT78.8 billion and MNT37.5 billion each for importing industrial equipment and spare parts.
SME Development Fund of the Capital issued 5-year loans of MNT5.6 billion with 5 per cent interest in 2014-2015. 55 projects, including 34 SMEs, 14 dairy production and 7 breeding farm projects received the loan and as a result of the projects, 331 jobs have been kept, annual milk yield raised by 1 million liter and SME production increased by 44 per cent.
Chairman of the capital Governor’s Office M.Otgonbayar said - 'One family One job program was approved by the Citizens Representative's Meeting of the capital with aims to achieve 60 per cent employment, making that every family have stable income by being employed. Now we are planning the two subprograms. It is time to boost scientific and technological achievements and introduce them in practice, grow the economy with product innovations and develop national production”.
There are 72182 companies and entities in the business registration data nationwide and 64 per cent or 46153 of them are operating in Ulaanbaatar, among which 8219 companies or 17.8 per cent belong to industrial sector. In 2009-2016, over 20 thousand citizens and legal bodies enjoyed VAT and customs tax exemption or reduction worth of MNT78.8 billion and MNT37.5 billion each for importing industrial equipment and spare parts.
SME Development Fund of the Capital issued 5-year loans of MNT5.6 billion with 5 per cent interest in 2014-2015. 55 projects, including 34 SMEs, 14 dairy production and 7 breeding farm projects received the loan and as a result of the projects, 331 jobs have been kept, annual milk yield raised by 1 million liter and SME production increased by 44 per cent.
B.Ooluun
