THE MAIN CHALLENGES IN THE CASHMERE SECTOR HAVE BEEN SOLVED

J.Bat-Erdene, Chairman of the Mongolian Wool and Cashmere Association the draft resolution ‘Measures to be implemented in wool and cashmere sector’ was discussed by the State Great Khural and approved.
The working team of Mongolian Wool and Cashmere Association and leaders of the Mongolian Public Party the Industrial Policy Committee organised the meetings and introduced the resolution and reworked additional economic calculations in a short period of time.
As a result, the following issues have been resolved. These include:
1. The Government of Mongolia has decided to provide working capital loans in the cashmere sector with a term of 1 year and an interest rate of 3%, and the term has been extended to 3 years.
2. The amount of refinancing has been approved to be at least MNT 10 billion.
3. The technical regulation of washed cashmere will be approved and enforced from 2023.
4. The issue of exemption for spinning and weaving equipment from customs tax VAT will be experimented and submitted to the Parliament.

April 6, 2021