Ms. M.Oyunchimeg, CEO of the Mongolian National Chamber of Commerce and Industry (MNCCI), has taken part in a discussion of receiving proposals on a revised bill on small and middle entities (SME).
The discussion was co-organized on November 6 in the State House by the Parliamentary Standing Committee on Economy, Sub-Committee on SME Development, Ministry of Food, Agriculture and Light Industry and Ulaanbaatar City’s Department of Industry and Innovation, with an aim to hear proposals and opinions from SMEs.
Participated as a panelist, Ms. Oyunchimeg delivered a speech concerning principal proposals, policy recommendations and solutions for other issues formulated by the MNCCI, representing views from SMEs.
Making clear types of SMEs, a number of clauses have been included in the revised bill under discussion. Accordingly, those SMEs that employ up to nine people and have sales income of up to MNT 50 million are classified as extra small-sized entity, while those SMEs with up to 50 employees and sales income of less than MNT 250 million are classified as small-sized entity. Middle-sized entities shall employ 200 people with sales income ranging from MNT 250 million to 1.5 billion by the draft new version of the law. It was accepted by majority of the participants.
Some attendees talked about certain views on optimizing the support for SMEs. Company owners said they still encounter obstacles and bureaucracy when they ask support although there are various laws and regulations of soft-loans, guarantees, interest discount and tax exemption for factory equipment.
At the discussion, parliamentarians, who are working on the revised bill, pledged to reflect proposals and clauses about regionally boosting SMEs as well as designing a structure for implementing a policy on SMEs.