Ulaanbaatar
President hears some pressing issues of cashmere industry
Society
Ulaanbaatar/MONTSAME/ On February 25, President Kh.Battulga got familiarized with operations of ‘Evseg’ cashmere factory of ‘Cashmere Holding’ LLC, hearing pressing issues in wool and cashmere sector.
Established in 1981, the ‘Cashmere Holding’ LLC provides about 1000 people with jobs, produces knitted, stitched and woven cashmere items worth some MNT30 billion per year and pays a tax worth MNT2.5 billion per year. The company sells its products in Russia, Italy, Switzerland, Germany, UK, Japan and Kazakhstan.
At the company, the President was heard pressing issues that the company and other cashmere factories are encountering, including value added tax and higher loan interests of Mongolian banks. Moreover, the President was introduced some proposals regarding support to the development of general cashmere industry, alongside the social issues of workers in cashmere sector.
The sector’s representatives suggested to spend money on marketing Mongolian cashmere products on the world market, to establish an export bank and to exempt casmere products from customs tax. They also noted that supports such as an issuance of soft loans to modernize their equipment and machinery under an certain program would be a big boost to producers and such support could be given to companies that run stable production operation, sell products worth more than USD1 million for consecutive three years and do not have tax debts.
Established in 1981, the ‘Cashmere Holding’ LLC provides about 1000 people with jobs, produces knitted, stitched and woven cashmere items worth some MNT30 billion per year and pays a tax worth MNT2.5 billion per year. The company sells its products in Russia, Italy, Switzerland, Germany, UK, Japan and Kazakhstan.
At the company, the President was heard pressing issues that the company and other cashmere factories are encountering, including value added tax and higher loan interests of Mongolian banks. Moreover, the President was introduced some proposals regarding support to the development of general cashmere industry, alongside the social issues of workers in cashmere sector.
The sector’s representatives suggested to spend money on marketing Mongolian cashmere products on the world market, to establish an export bank and to exempt casmere products from customs tax. They also noted that supports such as an issuance of soft loans to modernize their equipment and machinery under an certain program would be a big boost to producers and such support could be given to companies that run stable production operation, sell products worth more than USD1 million for consecutive three years and do not have tax debts.
M.Unurzul
