Exporters of non-mining products to receive financial support

2021-07-05 13:15:36

Ulaanbaatar /MONTSAME/ Mining products accounted for 95 percent of the Mongolia’s USD 7.6 billion worth of exports sold in 2020. The remaining 5 percent were non-mining products. Most of the mining products were non-value-added raw materials, while 97 percent of the non-mining exports were nine types of products. Even though around 1,500 companies have exported in the past 3 years, 70 percent of total exports remain to be made by only 30 companies.  


Therefore, to boost and diversify non-mining exports, Export Development Project is being implemented with funding support from the World Bank.


As part of the project aligned with the government’s plan to diversify the country’s mining-dependent economy, export-oriented companies and business clusters that meet certain criteria will receive financial support worth USD 50 to 100 thousand.


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