Speaker M.Enkhbold meets with entrepreneurs

Speaker M.Enkhbold meets with representatives of Mongolian businesses

In response to eight demands made by the Mongolian National Chamber of Commerce and Industry (MNCCI), Speaker of Parliament M.Enkhbold met with MNCCI President B.Lkhagvajav and representatives of local businesses on Thursday, at the State Palace, to discuss the current economic situation and amendments to the 2017 state budget.

Director of Bars Group LLC Ch.Amarbaatar stated that he agrees with the proposed tax increases, but that there should be a monitoring mechanism to review how the government spends taxes collected from entrepreneurs.

General Director of BSB Service LLC B.Jargalsaikhan said that the government needs to focus on making Mongolian companies more competitive, and on executing a robust policy to promote them.

President of Max Group noted that the state needs to reduce its bureaucracy, make its rules clear, create a transparent state system, end the underground economy dominating tenders and concessions, and to bring the people responsible for the nation’s economic difficulties to justice.

Head of Mobicom Corporation’s Legal Policy Department Ts.Enkhbat pointed out that all the work that the government carries out should be clear, measurable, and open for anyone to review.

B.Lkhagvajav said that entrepreneurs are in support of the Government of Mongolia’s collaboration with the IMF to deal with the economy, but that they disagree with the government’s policy to overcome challenges by increasing taxes. He noted that the government needs to carry out smart and competent policy, cut operational expenditures for government officials, privatize state-owned companies that are operating at losses that harm the business environment, and properly explain to businesses why tax increases must be carried out.

Speaker M.Enkhbold pointed out that Parliament and Cabinet are working together to strengthen discipline, insure accountability, enhance the legal and regulatory environment for foreign and domestic investors and entrepreneurs in Mongolia, and to reduce state involvement in businesses. The Speaker said that he hopes entrepreneurs understand that Mongolia was left with no choice but to pursue an IMF bailout, so the state and private sector need to discuss matters related to the rights of businesses.