THE PRESIDENT VISITS NATIONAL FACTORIES

Ulaanbaatar, April 19, 2023 /MONTSAME/. With the "Food Revolution", we are aiming to fully meet our domestic needs of 19 staple food products, enabling domestic producers in the next 5 years, create an animal disease-free zone and further become a food exporting country. To that extent, specific financial inducements have been proposed. For example, long-term concessional loans up to MNT 1 trillion with an interest rate of 3-5 percent for national producers, 90 percent of income tax reduction for enterprises with annual sales of less than MNT 1.5 billion, and 100% customs duty exemption for new equipment for processing food and agricultural raw materials until 2027. The customs duty-exempted equipment includes all types of equipment for processing skin and hide, wool and cashmere, milk, and meat, and producing beverages, flour, baked goods, packages, and packaging films, furniture, and woodenwares.

On April 13, the President visited “Eden” LLC, and “Cheese Republic Mongolia” LLC.

“Eden” LLC produces about 20 types of fruit juice and jam. The company has the capacity to produce 20,000-25,000 pcs of products a day, and has over 300 suppliers in Uvs, Zavkhan, Khuvsgul, Bulgan, Selenge, Tuv, Khentii, and Khovd aimags and 80 employees. In the future, the company is planning to expand the production capacity by introducing a new product line, and building deep-freeze storage and finished goods warehouse with an area of 648m2 and 837m2, respectively. Moreover, as a contribution to the “One Billion Trees” National Campaign, they are working to establish a fruit farm in Mongolia. Ts. Khurelbaatar, the Executive Director of “Eden” LLC, said, “We are enjoying the state's support in means of long-term and low-interest loans, and tax incentives under the Food Revolution, which enable us to run business for long-term, and further expand the business.”

The President met with cheese producers during his visit to “Cheese Republic Mongolia” LLC. According to the statistics, Mongolia produces 150-160 tons of cheese domestically, while importing 3000 tons per year. The cheese producers are determined to achieve their goals to improve production technology and product quality to meet international standards and their competitive advantages by leveraging on the above-mentioned financial inducements. Therefore, they have high hopes for not only fully meeting the domestic needs of cheese but also exporting Mongolian specialty cheese with all-round support from the government in near future.

Source: https://montsame.mn/en/read/317068