CASHMERE TECHNOLOGY RENOVATION WILL BE SUPPORTED

Ulaanbaatar /MONTSAME/ The cabinet decided to support a technical renovation in the cashmere sector in a view that it will make the Mongolian brand products on March 30. The cabinet ordered the Minister of economic development to issue 95 billion togrog from the "Chingis" sovereign bonds. This is not more than a one third of the financing required for a "Technical renovation of the cashmere production" project. All entities engaged in this project want to install equipment and technologies needed in 2013-2014. As expected, a realization of the project will stop an export of raw cashmere, increase a production of export-oriented cashmere products with VAT, create 20 thous. jobs at over 200 new small enterprises in regions. D.Enkhbileg