On Monday, the Ministry of Industry and National Industrial Council organized Road to Development 2016, an exhibition to intensify cooperation between the state and private sector and to domestically develop high-tech basic industry.
Over 50 domestic producers engaged in metallurgy, machine production, and engineering took part in the exhibition, promoting their products. Basic industries create materials and products needed by manufacturers and for construction, which are products with export potential.
Presenting opening remarks, Speaker Z.Enkhbold underlined, “Many projects have moved forward since the Law on Supporting Production was adopted. When we meet domestic producers they say that they are able to produce everything domestically if the state exempts taxes on raw materials, spare parts, and equipment. Over the next five to ten years, we will support domestic production through tax policy and by purchasing their products.”
Industry Minister D.Erdenebat said, “Developing basic industry is one of Mongolia’s challenges that needs to be tackled. It is great that Mongolians are manufacturing industrial products by utilizing domestic potential. Today’s exhibition showed the importance of developing basic industry in the future. I saw today that we are learning to produce and install industrial products. The main raw materials for industrial products are alloy steel and carbon steel. Domestic producers have told us that if we don’t help many factories along, in addition to producing metals, producers will become inactive in the future.”