Ulaanbaatar
State-owned enterprises had net profit of MNT 880 billion in 2017
Economy
Ulaanbaatar /MONTSAME/ The ‘Management and Corporate Social Responsibility of state-owned enterprises-2018’ event to promote the activities, achievements and further goals of state participation and state-owned companies to the public took place at Sukhbaatar square today, May 3. Total of 75 companies including Erdenet Mining Corporation, Erdenes Mongol, MIAT, Ulaanbaatar Railway and National Auto Transportation Center participated the event.
At the opening Prime Minister U.Khurelsukh mentioned that the Government of Mongolia is committed to strengthening equity in society, improving discipline of civil service and ensuring economic growth. He said “Unemployment, poverty, alcoholism and crime are our enemies. The main reason for the deterioration of the country's economy and people's livelihood is lack of jobs. Therefore, the Government is paying close attention to the creation of new jobs. I’m delighted that the state-owned entities are involved in this.”
More than 70 percent of 97 state participation and state-owned enterprises operated profitable in 2017. These organizations earned MNT 7.1 trillion with net profit of MNT 880 billion, accumulating MNT 1.7 trillion to the State budget. It helped to avoid the recession and promote economic growth.
“Some 18 of the TOP-100 business entities were state-owned. For instance, Erdenet Mining Corporation has been leading the TOP-100 entities for the past 18 years. In order to develop an independent economy, public and private enterprises must closely cooperate” said the Prime Minister.
In addition, Prime Minister U.Khurelsukh sent greetings online to the staff of Erdenet Mining Corporation and Eastern Energy System JSC,which included in the TOP-100 list for the first time in 2018.
At the opening Prime Minister U.Khurelsukh mentioned that the Government of Mongolia is committed to strengthening equity in society, improving discipline of civil service and ensuring economic growth. He said “Unemployment, poverty, alcoholism and crime are our enemies. The main reason for the deterioration of the country's economy and people's livelihood is lack of jobs. Therefore, the Government is paying close attention to the creation of new jobs. I’m delighted that the state-owned entities are involved in this.”
More than 70 percent of 97 state participation and state-owned enterprises operated profitable in 2017. These organizations earned MNT 7.1 trillion with net profit of MNT 880 billion, accumulating MNT 1.7 trillion to the State budget. It helped to avoid the recession and promote economic growth.
“Some 18 of the TOP-100 business entities were state-owned. For instance, Erdenet Mining Corporation has been leading the TOP-100 entities for the past 18 years. In order to develop an independent economy, public and private enterprises must closely cooperate” said the Prime Minister.
In addition, Prime Minister U.Khurelsukh sent greetings online to the staff of Erdenet Mining Corporation and Eastern Energy System JSC,which included in the TOP-100 list for the first time in 2018.
B.Misheel
