Public-Private Dialogue on Digitalization of Government Services and Trade Finance held

2022-03-17 15:51:04

Ulaanbaatar /MONTSAME/. On March 14, EuroChamber Mongolia conducted a round-table meeting on Digitalization of Government Services and Trade Finance in cooperation with the Mongolian National Chamber of Commerce and Industry.

This public-private dialogue was organized as part of the Export Capacity Building project funded and supported by the EU and EBRD. The participants in the meeting were the Ministry of Foreign Affairs (key speaker), Bank of Mongolia, Ministry of Digital Development and Communications, Development Bank of Mongolia, General Customs Administration, Small and Medium Enterprise Development Fund, Khan Bank, Export SMEs - project participants, EuroChamber and MNCCI member companies.

The parties have discussed in the first part of the event the progress of digitalization of government services to date, with the stress on services for exporting companies. 

In the second part, Bank of Mongolia and DBM provided update on policy priorities and implementation of export financing support. Khan Bank introduced its trade finance services for SMEs. The discussion focused mainly on problems faced by exporting SME's, especially access to export financing and possible solutions, incl. the role of DBM in the future export financing and promotion. 

The main takeaway from the meeting was that even though the government has made considerable progress in digitalizing its services, the government's efforts in this field need to be more coordinated and user-centered. Exporting companies need to get more acquainted with and use digital public services and channels.

The export financing part concluded that the creation of a transparent, well-governed Export credit guarantee agency is an indispensable institutional framework development, critical for promoting Mongolia's exports, especially in non-mining sectors.