Workshop on SME Development Policy takes place

2019-04-03 12:31:11

Ulaanbaatar /MONTSAME/ A workshop titled ‘Supporting SME Development Policy of Mongolia’ is taking place April 2-3, co-organized by the Ministry of Foreign Affairs, Small and Medium Enterprises Development Fund, Organization for Economic Cooperation and Development (OECD) and the Ministry of Foreign Affairs of the Republic of Poland.

State Secretary of the Ministry of Foreign Affairs Ts.Davaasuren delivered opening remarks, emphasizing the importance of improving the Small and Medium-sized Enterprises (SME) development policies and taking actions based on the best international practices.

He also noted that with the implementation of the OECD project ‘Enhancing Competitiveness in Central Asia’ access to finance for SMEs was eased, giving the opportunity to expand domestic and foreign markets, increase investments, thereby positively impacting economic growth and employment.

In order to improve access to finance for SME, it was suggested to increase the number and types of services provided by the SME Development Fund, ease collateral requirements of the Credit Guarantee Fund and improve the administrative process for obtaining credit.

The workshop will be conducted in Darkhan city on April 5, involving the local administration and SMEs.