Ulaanbaatar
First cooperative store of domestic SMEs opens in Ulaanbaatar
Economy
Ulaanbaatar/MONTSAME/. In some countries, small and medium-sized entrepreneurs and farmers unite and create a ‘co-operative
store’ to offer customers their products at manufacturer prices. Taking an example from this practice, over 30
national SMEs and manufacturers established Mongolia’s first ‘COOP’ store and
made its opening on November 21 in Ulaanbaatar.
In the opening,
B.Battsetseg, Director of SMEs Development Fund, noted “A progress of this year’s
our work to issue credits to 101 entities of Ulaanbaatar and 360 provincial
entities is now at over 80 percent. We aim to provide SMEs with not only
financial but also non-financial support to increase export-oriented production.
As part of this work, we signed a memorandum of cooperation with the newly opened
cooperative store. When operating individually, SMEs face many difficulties and
risks, especially if they are intent to export their products. This
opportunity provides them to overcome difficulties together and share
experiences.”
Kh. Ikhbayar, Director of
the ‘Tengeri Coop Mongolia’ Cooperative, said: “After studying possibilities of
selling domestic products without intermediation and its competitiveness in the
world market, we came to the decision to open the cooperative store.
Currently, 30 manufacturers and entrepreneurs of leather, cashmere and cosmetic
products, clothes and food products have joined us. Further, we plan to expand our cooperative
store, opening branches in Erdenet and Darkhan cities, Dornod aimag as well as
abroad.”
