National Committee to Support the Agricultural Sector to be Formed
Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai has held his regular ‘Morning meeting” with representatives of the food and agriculture sectors.
Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai has held his regular ‘Morning meeting” with representatives of the food and agriculture sectors. The meeting was attended by representatives of farmers, producers of meat, milk, and other foodstuffs as well as veterinary hospitals, packaging and professional associations. The Prime Minister noted that the food and agricultural sectors are vital in contributing to the development of Mongolia and briefed the participants about the government's actions to reform the legal framework of the sectors. The Government is supporting producers with financial resources and tax policies. The Government has provided MNT 667.3 billion of soft loans to 1,851 citizens, enterprises, and cooperatives and the utilization rate of the funding is 68 percent. With the increase of milk incentives and expansion of its coverage, the supply of liquid milk has improved. In 2023-2024, the Government decided not to set a limit for the export of all kinds of animal meat, and as of November 15 of this year, 70,000 tons of meat worth USD 260 million were exported, which is a fourfold increase from the same period of the previous year, according to PM Oyun-Erdene. Prime Minister L. Oyun-Erdene emphasized the role of taxes in policy regulation in addition to generating budget revenues. Relevant officials were tasked to study the need for policy support for domestic products, for example, the necessity for changes in the principle of tender selection. Reminding the necessity to establish a specialized institution in the agricultural sector, the PM noted that a National Committee to Support the Agricultural Sector will be formed at the Government level and the Premier will head the Committee over a certain period.