National program on small and medium-sized enterprises approved
SocietyUlaanbaatar/MONTSAME/. Today, the Cabinet approved
the National Program on promoting small and medium-sized enterprises (SMEs) and
assigned Ch.Ulaan, Minister of Food, Agriculture and Light Industry, to oversee
its implementation. Required funding for the program will be issued from annual
state and local budgets, basic guidelines and foreign and international loan
and assistance.
The program will be implemented in 2019-2022 through
two phases. The program will give impetus
to SMEs to make technical and technological modernization, improve efficiency
and competitiveness of their products and produce export-oriented
import-substitute products.
Moreover, the percentage of SMEs in the GDP is
expected to reach 21 percent, making its percentage in the gross export to be
5.3 percent and creating 30 thousand new jobs.
As of 2017, over 78 thousand out of 155 thousand
total registered entities are operating in the country, of which over 60
thousand are SMEs that employ more than 900 thousand workers.