Policy Workshop for Development of SME and Venture Business in Mongolia | Asian Development Bank

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Policy Workshop for Development of SME and Venture Business in Mongolia

Event | 8 - 9 February 2018 Ulaanbaatar, Mongolia
Time of event

09:00–18:00

Background

Small and medium-sized enterprises (SMEs) are the backbone of Asian economies, accounting on average for 98% of all enterprises, 66% of the national labor force, and 38% of gross domestic product (GDP). In Mongolia, SMEs also make up 98% of all enterprises, three-quarters of which are microenterprises. While Mongolian SMEs face many obstacles to unlocking their full potential, 30% cite lack of access to finance as the foremost constraint. Only 10% of about 37,000 Mongolian SMEs regularly access finance through banks.

To improve Mongolian SMEs’ access to finance, it is essential to consider implementing a credit guarantee scheme, a credit risk database, and direct government investments. A credit guarantee scheme is needed but it is important to find the optimal support level and suitable fee structures. A credit risk database is necessary to overcome the problem of information asymmetry faced by SMEs. Meanwhile, national development banks are crucial for crowding in private sector investments for SMEs, especially SME startups.

ADBI, in cooperation with Mongolia’s Ministry of Food, Agriculture and Light Industry (MFALI), and the MFALI SME Development Fund will organize a course-based training in Ulaanbaatar to enhance the capacity of policy makers to support SME development in Mongolia. All local partner agencies will share their unique policy experiences and knowledge of SME development, building on best practices of other developing Asian countries. Furthermore, the workshop will host the ADBI Alumni Reunion Reception on 8 Feb 2018 (18:00–19:30 at the Blue Sky Hotel & Tower). ADBI Dean Naoyuki Yoshino will discuss policy issues during the reception to help strengthen ADBI’s efforts to promote economic development in Mongolia.

Objectives
  • Help participants obtain critical knowledge in SME development, especially regarding SME financing
  • Build the capacity of officials to design and implement innovative approaches to SME and entrepreneurial financing for enhanced competitiveness
Participants
  • 40 participants from the Mongolian government and 8 experts from Japan and other Asian countries involved in SME development and financing
  • 20 Mongolian government officials who have participated previous ADBI workshops will attend the ADBI Alumni Reunion Reception
Output
  • Government officials trained in the theoretical and empirical framework of SME policy and financing, and in unlocking private investment into SME sector
  • Enhanced knowledge and understanding of current policy issues in the areas of SME development
  • Enhanced dialogue and networking among government agencies, academic institutions, and international organizations to promote effective policy making
How to register

By invitation only.

Partners

Ministry of Food, Agriculture and Light Industry of Mongolia; the SME Development Fund of Mongolia; and the Small and Medium Business Corporation of the Republic of Korea