President of Mongolia visits business incubator for women
President of Mongolia Battulga Khaltmaa visited the Ulaanbaatar's first Women's Business Center opened in 2016 from Asian Foundation and got acquainted with the business products.
President of Mongolia Battulga Khaltmaa visited the Ulaanbaatar's first Women's Business Center opened in 2016 from Asian Foundation and got acquainted with the business products, both on the market and ready for sale, produced by the women involved in its incubator project. The project addresses a critical demand from women entrepreneurs to receive day-to-day professional and high-quality business support and development services in an enabling environment that fosters women’s entrepreneurship and supports small and medium businesses. At the time of the arrival, around thirty women who were selling their products had the opportunity to introduce their businesses and share their challenges to the President. Those women, particularly the ones with lower income and disabilities and single heads of household are raising their business through the Incubator Project. The projects participants have received USD 135.0 million worth of technologies for sophisticating their products including cosmetics, souvenirs, and textiles. By being involved in the project, the women capture the chance to get professional consultancy on how to run business based on one’s own abilities and how to penetrate markets. The project not only increased some women’s income but also provided workplaces for the disabled and pensioners who find it difficult to place jobs. Although the project had been set to continue for three years with the financing of USD 1.2 million, the businesswomen say the project needs to be carried out for a longer term with additional funding. After getting acquainted with the Women’s Business Center, the President wished success to their business endeavors. The Women Business Center funded by the Korean International Cooperation Agency (KOICA) and support of the Office of the Mayor of Ulaanbaatar and the Asia Foundation has trained more than 5200 women and recruited 2100 clients since the project commenced in 2016.
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