MEETING WITH REPRESENTATIVES OF PRIVATE SECTOR
On August 2, the President of Mongolia Khaltmaagiin Battulga welcomed representatives of Mongolia’s private sector.
President Battulga noted: “I know quite well about business sector and difficulties faced in developing the national production. In order to promote the national production, we should make revolutionary change.
Mongolia’s economy is dominated by trade sector. It is time for us to shift from trade economy into an industrial economy. Mongolia’s economy is heavily dependent on import products. Lack of proper state policy on private sector eventually brought more difficulties to the entrepreneurs. We cannot develop industrial sphere by commercial bank loan with high rate. National production needs certain policy and program, and I would like to emphasize that Mongolia should produce value-added goods”.