PRESIDENT OF MONGOLIA VISITS BUSINESS INCUBATOR FOR WOMEN
Today, President of Mongolia Khaltmaagiin Battulga legged the Women’s Business Center and got au fait with the business products, both on the market and ready for sale, produced by the women involved in the project.
The Center has been operational since 2016 with funding of the Korean International Cooperation Agency (KOICA) and support of the Office of the Mayor of Ulaanbaatar and the Asia Foundation. The Center has been functioning to increase contribution of businesswomen to the economy, facilitate favorable environment for businesses, formalize informal businesses and promote women in starting their own businesses.
Since the project commencement, the Center has trained more than 5,200 women and recruited 2,100 clients. Women with lower income and disabilities and single heads of household are encouraged to be involved in the project, so that it can help them promote their products to the market.
As the President visited the Women’s Business Center’s Incubator, 28 women who were selling their products had the opportunity to introduce their businesses and share their challenges.
These women who are raising their business through the Incubator Project have been provided with technologies worth MNT 135.0 million for sophisticating their products, and have been producing final products including cosmetics such as hand soap and mushroom and black garlic extracts, souvenirs made of natural stones, handicrafts and textiles.
By being involved in the project, the women capture the chance to get professional consultancy on how to run business based on one’s own abilities and how to penetrate markets. The project not only increased some women’s income, but also provided workplaces for the disabled and pensioners who finds it difficult to place jobs.
Although the project had been set to continue for three years with financing of USD 1.2 million, the businesswomen say the project needs to be carried out for longer term with additional funding.
After getting au fait with the Women’s Business Center, the President wished success to their business endeavors.