GOVERNMENT POLICY TOWARD SUPPORTING SMEs
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1 MINISTRY OF INDUSTRY AND TRADE GOVERNMENT POLICY TOWARD SUPPORTING SMEs By V.Enkhbold, Director Trade and Economic Cooperation Department GOVERNMENT OF MONGOLIA-EXTERNAL PARTNERS TECHNICAL MEETING
2 SUPPORTING SMEs DEVELOPMENT PROGRAMME FOR SUPPORTING SMEs. Government Decree 64 of To establish favorable legal environment for SMEs development To facilitate government services for SMEs To support through financial and tax policies To promote SMEs by providing training, information, consultancy and other related assistance
3 TO ESTABLISH FAVOURABLE LEGAL BASIS FOR SME DEVELOPMENT 1. Draft of Law on SMEs: Concept of the law in jointly by the Ministers for MIT and MOJHA. The draft was discussed by the Cabinet on The protocol of Cabinet meeting of Decided to discuss the draft of SMEs Law during the Parliamentary plenary session of autumn. Law on Special fund Supporting fund for SMEs development
4 TO ESTABLISH FAVOURABLE LEGAL BASIS FOR SME DEVELOPMENT Approach to developing industry in rural area / Government Decree 188 of 2003 / Developing industry based on regional development approach Food industry Consumer good industry
5 TO ESTABLISH FAVOURABLE LEGAL BASIS FOR SME DEVELOPMENT Rural area industrial development approach / Government Decree 188 of 2003 / Law on Leasing / / Centers for leasing Law on Industrial Park /Spring session of Parliament/
6 Legal preparation of loan Decree 29 of Minister for MIT/ / -working group Decree number 198 minister for MIT / / - regulation on budget loan, contract on cooperation with banks, commission and monitoring committee of project selection MIT held several meetings with commercial banks in order to reduce interest rate and expand the duration /X -1, 2/ On /10 MIT signed a contract with Mongolian Post Bank Zoos Bank Khas Bank and reached a decision that banks will provide 20-30% of funding with 1% interest rate, 2 years duration.
7 I 1,1, 1,2 Content Resources MIT Bank 1,3 Regional council 1,4 UB regional council II Unit Total Allocation KHAS Bank Mongol Post" Zoos Bank Percent 45,41% 45,95% 42,20% 48,53% MNT , , , ,00 Percent 25,07% 27,03% 19,44% 29,41% MNT , , , ,00 Percent 24,98% 27,03% 25,58% 22,06% MNT , , , ,00 Percent 4,54% 0,00% 12,79% 0,00% MNT , ,00 Total , , , ,00 Interest rate offer 2,1 éë àæèëëàãààíû çàðäàë Percent 5,00% 2,2 Risk and income Percent 3,00% 2,3 Duration 3 year 2 year 2 year 2,4 Minimum MNT , ,00 2,5 Maximum MNT ,00 Fund 20% ,00 2,6 I/rate per year Percent 12,00% 12,00% 12,00% 2,7 I/rate per month percent 1,00% 1,00% 1,00%
8 Allotments of financial resources generated from state budget in 2006 for the purpose of allocating concessional loans to SMEs are presented by regions. (million tug) Regions Financial resources from MIT Additional resources From Domestic budget From Commercial bank Total 1 Ulaanbaatar 450,0 100,0 252,0 802,0 2 Central 150,0 150,0 80,0 380,0 3 Khangai 150,0 150,0 80,0 380,0 4 Western 150,0 150,0 80,0 380,0 5 Eastern 100,0 100,0 60,0 260,0 Total 1000,0 650,0 552,0 2,202,0
9 Allotments of financial resources generated from state budget in 2007 for the purpose of allocating concessional loans to SMEs are presented by regions. (million tug) Regions Financial resources from MIT Additional resources From Domestic budget From Commercial bank total 1 Ulaanbaatar 450,0 450,0 252,0 1152,0 2 Central 150,0 150,0 80,0 380,0 3 Khangai 150,0 150,0 80,0 380,0 4 Western 150,0 150,0 80,0 380,0 5 Eastern 100,0 100,0 60,0 260,0 Total 1000,0 1000,0 552,0 2,532,0
10 Implementation of concessional loans to SMEs (Ulaanbaatar) Duration Number of applicants Limit of loan (million tug) New employment 1 4 th season , st season , Total ,9 204
11 Two steps loan of Japanese Government On signed on two steps loan contract. Amount: 25 million USD Purpose of loan: 1. Support SMEs 20 million USD 2. Protect environment 5 million USD Condition: 1. Interest rate - USD: 10% per year, MNT : 12 % per year 2. Free of interest rate for first 10 years /40/
12 Two steps loan of Japanese Government Commercial Bank TDB, Golomt, Khas, Zoos, Capitron, KHAN Type: USD, MNT Condition of loan : 1. Duration - 3 ~ 10 years / 1~3 years, free of interest rate/ 2. Interest rate - USD: Libor+margin/risk is included/ MNT: Average rate of tugrick
13 Implementing Programme on supporting SMEs ÀÀÍ-èéí òîî: 22547/39677/ ÓÁ, Äàðõàí, Ýðäýíýò ÀÀÍ Number Áóñàä of enterprises: 8598 ÀÀÍ22547 / 39677/ UB, Darkhan, Erdenet company Others-8598 company ÎÓÕÁ-èéí International ÆÄ Ý-èéí Labor òîî Organization ÀÀÍ number of entrepreneurs ÕÝÐÝÃÖÝÝ Needs /70%/ / 70%/ 1 enterprise-15 ÀÀÍ 000 million 000 tugriks ñàÿ.òºã billion òýðáóì.òºã tugricks employment ìÿí.àæëûí áàéð
14 DOMESTIC FOREIGN Development fund (Gov) Õºãæëèéí ñàí/çã/ ÇàñãèéíSpecial ÃàçðûíFund Òóñãàéof ñàí ÆÄ -èéãgovernment äýìæèõ Òºðèéí áîëîí õóâèéí õýâøëèéí ñàíãóóä State and Private funds for supporting SMEs Ìÿíãàíû Millennium Ñîðèëûí challenge Ñàí/ÀÍÓ/ fund ßïîíû Government Çàñãèéí ãàçàð/æä, of Japan ÁÎÕàìãààëàõ/ 25 ñàÿ.àì.äîëëàð (SMEs & Environment protection) 25 million USD foreign Government of Germany 2.5 million euro /KFW/ ÕÁÍÃÓ-ûí Çàñãèéí ãàçàð 2.5 ñàÿ.åâðî/kfw/ Á ñèéí Ýäèéí Çàñãèéí Õºãæëèéí Program õºòºëáºð /GTZ/ /ÃÒÕÀÍ/ Regional Economic Development
15 LOAN GUARANTEE FUND (LGF) Within the framework of Enterprise Mongolia project in order to create branch in rural area, it was discussed to fund USD to LGF. Within the framework of One Village One Product initiative MIT, UNDP and Khas Bank made contract on granting 450 million tugricks to LGF. LGF total fund-159 million USD, Loan resources- 416 million tugricks
16 Thank you for your attention Website:
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