Covid-19 impact survey Report on Businesses

FORWORD

The Mongolian National Chamber of Commerce and Industry (MNCCI) as main representative body of the private sector is responsible for constant monitoring of the changes occurring in the business environment and of its impact. To this end it conducts regular policy research and develops recommendations based on research findings for review by both politicians and other decision makers.

In line with these obligations, the MNCCI conducted a study on the impact on business of the measures taken by the Mongolian Government to prevent the spread of the corona virus infection in Mongolia. Based on the results of the survey MNCCI compiled a report “Economic Risk Management Package”, which was presented to the President of Mongolia, the Speaker of the Parliament, and the Prime Minister, the National Security Council and several Ministers of key ministries. Furthermore, studies were conducted on the impact on jobs, on operation of several sectors, the potential risks, on measures to be taken under these circumstances, and the results were reported in due time.

International organizations, economists and researchers are predicting a worldwide crisis, as the COVID-19 pandemic spreads rapidly across the globe and, diminishes economic growth even in large economies. The slows down is aggravated because the world has become totally globalized and as such the economies and supply chains are even more interdependent. Hence, MNCCI is pleased to introduce to you the results of several surveys conducted in March 2020, on the changes to the economy and businesses caused by the spread of the corona virus and by the mitigative measures taken by the Mongolian Government. We hope this report will help you in carrying out your decisions regarding management of risks posed to the economy and businesses, and in considering to provide support especially to the small and medium-sized businesses in Mongolia, and in doing so help to save income and employment.

We would like to thank the EU-Trade Related Assistance for Mongolia (TRAM) project team for their kind support in translating these reports into English for benefit of our international partners.

THE MONGOLIAN NATIONAL CHAMBER OF COMMERCE AND INDUSTRY