Ulaanbaatar, August 12, 2025 /MONTSAME/. Under the auspices of the President of Mongolia, Khurelsukh Ukhnaa, the “World Women Entrepreneurs Forum” will be held from August 25 to 26, 2025, in Mongolia.

The fourth major event, initiated by the President in support of women, is being organized under the theme “Inspire, Impact, Invest,” bringing together over 216 women entrepreneurs from 25 countries. Before the Forum, Montsame National News Agency interviewed B. Javkhlan, Advisor to the President on Project Coordination and Civil Society Policy.

-The President of Mongolia Khurelsukh Ukhnaa pays significant focus on enhancing gender equality, women’s participation, and leadership. Let’s start our interview by introducing the main initiatives and legal reforms initiated by the President in this area.

-Mongol people hold great pride in their history and unique nomadic cultural values. The Mongols’ ancient, deep-rooted culture of loving reverence toward mothers and women, as well as their teachings and actions, expands beyond tradition, remaining a conviction firmly instilled in the foundational value of modern society to this day. The rights of women were provided and honored in all Mongol states throughout history. Our country has undergone relatively tangible progress and rich experience in fostering gender equality, with sufficient achievements to share, compared to other countries in the region. Mongolia adopted its first Constitution in 1924, recognizing the equal rights of men and women and granting women the right to vote and to be elected. This was a historical event marking a first in the Asian continent. Mongolia celebrated its 100th anniversary last year, as well as the centennial anniversary of the establishment of the first non-governmental organization safeguarding women’s rights and interests, “Mongolian Women’s Union.” Although Mongolia should be proud of its historical achievements, studies indicate that women’s participation in politics hasn’t reached sufficient levels. The “Revised Law on Political Parties” and the “Amendment of Law on Election of the State Great Khural” were adopted last year. Consequently, while 60, or only 10 percent, of the 608 Members of Parliament elected through the past eight elections were women, 32 women were elected in 2024, comprising 25 percent of the total representation in the Parliament now. This made Mongolia a country with the highest number of women’s participation in Parliament on the Asian continent. The previously mentioned Law stipulates that, starting from 2028, no less than 40 percent of a political party’s candidates must be of the same gender. If Mongolia can meet this requirement, Sustainable Development Goal 5, “Gender Equality,” will become fully achievable.

-In recent years, since 2022, the International Conference of Women Peacekeepers, Female Foreign Ministers’ Meeting, and World Women’s Forum have been organized under the auspices of the President in Mongolia. The fourth event in the series, the “World Women Entrepreneurs’ Forum,” will be held this year. How do you evaluate the features, significance, and outcomes of the previous events?

-The President of Mongolia, Khurelsukh Ukhnaa, considers leadership in enhancing gender equality, particularly at the decision-making level, important, and implements numerous initiatives under His auspices annually. Member countries of the United Nations highly regard Mongolia’s contributions to human rights and freedom, as well as women’s rights, by launching a significant initiative to safeguard gender equality at the international level. The President is incorporating a policy of supporting women’s rights and participation in the country’s foreign relations through a feminist foreign relations policy and consistent expression of this ideology on the global stage. By feminist foreign relations policy, we mean a more compassionate, nature-friendly, education-supportive, and family-respecting policy with transparency on social issues.

The events organized under the auspices of the President of Mongolia are indicative of Mongolia’s regional and international contributions to gender equality, affirming its support for gender equality.

In 2022, the International Conference of Women Peacekeepers was organized under the auspices of the President. Mongolia makes a significant contribution to peacekeepers’ endeavors, with over 20,000 participating soldiers in the past 20 years, recognized for their skills, talent, reputation, and resilience. Mongolia is ranked 18th out of more than 120 countries in terms of the number of female peacekeepers, indicating that our country is making tangible contributions to strengthening women’s participation in line with the international community toward peace and security.

As for the Female Foreign Ministers’ Meeting held in 2023, its significance lies in it being the first not only in Mongolia, but on the continent of Asia.

In recent years, the number of female foreign ministers has been rising annually, reflecting global efforts to advance gender equality. While there were almost 20 female foreign ministers in UN member countries 10 years ago, that number has increased to 40 today. With profound changes in global foreign relations giving rise to a new world order, countries face similar challenges. A crucial question of what female ministers can contribute in such conditions was discussed at this Meeting.

The high-level international World Women’s Forum was organized last year in Ulaanbaatar. Over 200 delegates from 47 countries, including Heads of State, Heads of Parliament, Chairpersons of Parliament, Ministers, Heads of international organizations, Heads of United Nations organizations and non-governmental organizations, representatives from art, culture, sports, and business, participated in the event.

-How do you view the significance and benefits of the World Women Entrepreneurs’ Forum planned to be organized under the auspices of the President of Mongolia? What outcomes are expected?

-The World Women Entrepreneurs’ Forum, to be organized under the auspices of the President with the theme “Inspire-Impact-Invest” from August 25 to 26, 2025, is special as the fourth large-scale event in support of women. As of the present, 216 delegates from 25 countries, including the Republic of Türkiye, the Socialist Republic of Vietnam, the Republic of Poland, the Republic of Korea, the People’s Republic of China, the Republic of Kazakhstan, the Lao People's Democratic Republic, Japan, the United State of America, the Kingdom of Belgium, the Republic of Belarus, the Czech Republic, the Republic of Croatia, Turkmenistan, the State of Israel, the Republic of Iceland, the Kingdom of Bhutan, Federal Democratic Republic of Nepal, have confirmed their participation in the Forum. The event will include thematic panel sessions on “Breaking Barriers: Reimagining Leadership and Power,” “Financing the Future: Unlocking Capital for Women Entrepreneurs,” “Building Green and Inclusive Economies: The Role of Women-led Enterprises,” and “Digital Transformation and Innovation in Women’s Businesses”, as well as six sub-sessions on the following topics:

1. “Fostering Women’s Entrepreneurial Leadership”

2. “Financing Her Dreams: Unlocking Capital for Women Entrepreneurs”

3. “Digital Transformation and Innovation in Women’s Businesses”

4. “Building Green and Inclusive Economies: The Role of Women-led Enterprises”

5. “Bridging Borders: A Mongolia-Asian Women in Business Dialogue”

6. “Women Exporters in the Digital Economy Fund”

Additionally, an exhibition will be organized from August 24 to 26, 2025, aimed at promoting products and services by Mongolian women entrepreneurs in the global market and attracting investment.

Furthermore, in-person B2B meetings are planned. Information on businesswomen participating in the Forum has been sent out individually, allowing for research and expression of interest to make meeting appointments. As a result, recommendations made during these discussions will be sent to policymakers. Moreover, international scholarships for start-up businesswomen will be announced. I am confident that the Forum will reaffirm Mongolia as a regional advocate for gender leadership and women’s economic participation, offering inspiration, opportunities, and a platform to create a joint future. During the Forum, new policy-level gateways will open for gender-based economic support, strengthening cooperation, and cross-border partnerships and investment. Expectations include improvement in women entrepreneurs’ business skills, leadership, and strategic capabilities.

-What is the percentage of women’s contribution in the world’s as well as Mongolia’s business scene? In other words, what percentage of the global and Mongolian business sectors comprises women entrepreneurs?

-While women comprise 34 percent of small and medium enterprises worldwide, this number reached 71.3 percent in Mongolia, ranking high in the region. Particularly, the number of entrepreneurs’ participation in digital trade has increased fivefold within the last five years, comprising 24 percent of total trade. The utilization of digital platforms by women entrepreneurs to enter new markets has become key to their digital transformation.

However, workforce participation levels show a greater gap. Specifically, as of March 2024, while men’s participation was at 72 percent, women’s participation level was 17.2 percentage points lower – at 54.8 percent.

A study conducted by the Asian Development Bank (ADB), which concluded that if Mongolia can eliminate the gap in workforce participation, the country’s economy can expand by 16 percent within 30 years, further indicates that gender equality is not only a matter of human rights, but of great economic importance.

-International studies indicate that advancing gender equality creates tangible benefits to a country’s economy. What policies and measures are being taken in this area in Mongolia?

-Countries worldwide are yet to make sufficient progress to achieve the goal of gender equality. International organizations note that, although more than half of the time to achieve the Sustainable Development Goals (SDGs) has passed, progress on SDG No. 5, “Gender Equality,” remains unsatisfactory. As of June 2025, Mongolia ranked 65th out of 148 countries in the Global Gender Gap Report 2025 by the World Economic Forum (WEF), advancing 20 ranks from the previous year. However, legal regulations limiting women’s economic participation persist, with the percentage of women in decision-making levels remaining lower than that of men. For instance, women comprise the majority of unofficial and unpaid labor, with average wages 12 percent lower than those of men. A study by the International Monetary Fund mentioned that the world economy can expand by 23 percent if countries achieve full gender equality. Thus, organizing the World Women Entrepreneurs’ Forum will not only reaffirm our feminist foreign relations policy but will also contribute to the global economy.

Through the Forum, we are supporting equal gender participation, fostering favorable business conditions, attracting investment, and implementing tangible, new steps toward innovation.

The first gender bond was issued in July 2025 on the Mongolian Stock Exchange. The bond aims to provide financing to support the economic participation and leadership of women entrepreneurs, as well as to create workplaces. This was a novel initiative in line with SDGs and aimed at financing female owners of small and medium enterprises (SMEs). Gender bonds aim to support not only women but also to enhance gender balance and equal participation.

Mongolia has adopted the “Financial Code for Women Entrepreneurs” program, which is implemented across 26 countries.

According to a study by the International Financial Corporation (IFC), the financial accessibility disparity between men and women in Mongolia has reached USD 1.2 billion, further emphasizing the gender inequality. Additionally, according to the comparative research conducted on bank loans of SMEs as of December 2024, the average amount of loans, worth MNT 66.4 million, acquired by women-led SME is 45.6 percent lower than that of men-led enterprises. Moreover, the average interest rate of loans acquired by women is 0.8 percentage points higher than that of men, presenting further transparency gaps. The implementation of the “Financial Code for Women Entrepreneurs” program will enhance women entrepreneurs’ financial education, exporting capacity, and opportunities to enter new markets, increasing women’s participation in digital trade. Thus, the program is significant not only in expanding credit inclusivity but also in establishing new standards for financial institutions to conduct gender-based analyses, reflecting gender sensitivity in decision-making processes.

The “Center for Supporting Women’s Trade,” jointly established under the “Mongolian National Chamber of Commerce and Industry” with an international center, is fully operating. Moreover, a Working Group has been established and commenced its work to formulate a gender taxonomy, aiming to support gender equality at a policy level.