Mongolian
On March 3, Prime Minister G. Zandanshatar met with representatives of the cashmere industry and the banking sector to discuss policy measures aimed at expanding exports.
In 2025, Mongolia exported 4,000 tons of cashmere, generating USD 335 million in revenue, a 5.7-fold increase year-on-year. The agricultural sector accounted for 40 percent of the country’s 6.8 percent economic growth last year, with cashmere exports serving as a key driver.
Industry representatives said that better access to finance and export incentives would support higher production and export growth.
The Prime Minister also held discussions with the Bank of Mongolia and commercial banks on making lending requirements more flexible. Commercial banks reaffirmed their commitment to supporting export-oriented businesses, noting that the non-performing loan ratio has declined to 4.6 percent, its lowest level in 15 years.
The Government prioritizes expanding employment opportunities for youth, women, and senior citizens. In parallel, the Ministry of Family, Labor and Social Protection is drafting amendments to the Law on the Promotion of Employment to modernize employment services, introduce case management approaches, develop a unified big data–based labor market information system, and strengthen public–private partnerships.
The initiative aims to enhance workforce participation, improve policy coordination, and ensure Mongolia’s readiness for the evolving global labor market.
