Young en­trepreneurs call for gov­ern­ment sup­port

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The first Young En­trepreneurs’ Con­fer­ence kicked off at the Great Hall of the State Palace on Satur­day to de­velop and strengthen en­trepreneur­ship in Mon­go­lia...


The first Young En­trepreneurs’ Con­fer­ence kicked off at the Great Hall of the State Palace on Satur­day to de­velop and strengthen en­trepreneur­ship in Mon­go­lia.

The con­fer­ence at­tracted Mon­go­lian and Korean en­trepreneurs, rep­re­sen­ta­tives from the Pres­i­dent’s Of­fice and Mon­go­lian Young En­trepreneurs’ Coun­cil who hope to sup­port young busi­ness­men, share ex­pe­ri­ence, and ex­pand co­op­er­a­tion be­tween busi­nesses.

Pres­i­dent of Mon­go­lia Kh.Bat­tulga opened the con­fer­ence, ex­press­ing his great hopes for the fu­ture of en­trepreneur­ship in the coun­try.

“Now is the time for young Mon­go­lian and Korean en­trepreneurs to make a con­tri­bu­tion to stim­u­late the Mon­go­lian econ­omy and keep­ing it on par with the rest of the ever-evolv­ing world. Sit­ting back and do­ing noth­ing but crit­i­cize doesn’t suit young peo­ple. You need to re­al­ize that if you don’t change, noth­ing will change. The mo­ti­va­tion to change, re­form and im­prove is a cru­cial char­ac­ter­is­tic for young peo­ple. I hope you all can uti­lize it to the best of your power for the well­be­ing and de­vel­op­ment of your na­tion­als,” he said.

He men­tioned about his ne­go­ti­a­tions with South Korean Pres­i­dent Moon Jae-in dur­ing their meet­ing in Rus­sia last year. Mon­go­lian and South Korean have de­vel­oped a close re­la­tion­ship and the two coun­tries have no prob­lem col­lab­o­rat­ing as there are over 100,000 Mon­go­lians who can speak Korean, of which over 40,000 are work­ing and liv­ing in South Ko­rea, the pres­i­dent stated. The two state heads agreed to in­crease ex­port-di­rected busi­ness op­por­tu­ni­ties and as the first step, de­cided to host the first Con­fer­ence for Young En­trepreneurs.

Next, Pres­i­dent Kh.Bat­tulga shared about lo­cal poli­cies on agri­cul­ture, farm­ing and tourism to urge col­lab­o­ra­tion in these sec­tors. The pres­i­dent’s speech was fol­lowed by pre­sen­ta­tions of suc­cess­ful en­trepreneurs.

From the Mon­go­lian side, Founder of Taliin Ezen (Steppe Owner) LLC S.Saikhan­ba­yar, Founder of Mega In­ter­na­tional Com­pany B.Man­lai and Project Co­or­di­na­tor for Gen­eral Pol­icy of Green De­vel­op­ment and Tourism S.Ochir-Er­dene shared about their ex­pe­ri­ence.

Di­rec­tor of Mega In­ter­na­tional B.Man­lai said, “Be­fore young peo­ple start busi­nesses, there’s a need to cre­ate a busi­ness en­vi­ron­ment. This con­fer­ence is the start of this work. It is aimed to fi­nan­cially sup­port young peo­ple in­ter­ested in start­ing their busi­ness and find other op­por­tu­ni­ties to as­sist their ac­tiv­i­ties.”

“Tech­nol­ogy, tourism and agri­cul­ture are be­ing high­lighted at the con­fer­ence. Rather than fo­cus­ing on tra­di­tional mat­ters, we strive to fol­low the cur­rent and fu­ture trends, and meet pub­lic ex­pec­ta­tions while mak­ing sure to con­duct re­lated stud­ies. We must share our op­por­tu­ni­ties with each other. Fi­nan­cial sup­port is crit­i­cal to young busi­ness­men. Even though we’re full of pas­sion to know more, do bet­ter and cre­ate new things, we have in­suf­fi­cient sup­port,” he un­der­lined.

Mean­while, Ex­ec­u­tive Di­rec­tor of Kakao Mo­bil­ity Com­pany John Joohwan Jung, Ex­ec­u­tive Di­rec­tor of South Korean In­vestors’ Part­ner­ship Jonghyun Kim and Founder of TMON Com­pany Daniel Hyun­sung Shin par­tic­i­pated in the fo­rum as guest speak­ers from South Ko­rea.

“I first es­tab­lished TMON with four of my friends in 2010,” said Daniel Hyun­sung Shin. “Back then, many peo­ple were shocked to see a group of US grad­u­ates run a food busi­ness in Seoul. It’s very hard to open a restau­rant in Seoul. We used to go around res­tau­rants, ask­ing for dis­count vouch­ers. We opened an of­fice and even lived there. Many peo­ple crit­i­cized us for go­ing into the food busi­ness even though we grad­u­ated in the USA. Our busi­ness may have started in Seoul but ex­panded to other re­gions. To­day, we have mil­lions of cus­tomers.”

Af­ter un­der­lin­ing the im­por­tance of a good team to run a suc­cess­ful busi­ness, Daniel said, “I heard that young en­trepreneurs face all kinds of chal­lenges in Mon­go­lia. Of course, there will be dif­fi­cul­ties when try­ing to re­ceive fi­nan­cial sup­port from a bank. I’m sure that many good col­lab­o­ra­tion op­por­tu­ni­ties will emerge in the fu­ture.”

Pres­i­dent Kh.Bat­tulga opens the Young En­trepreneurs’ Con­fer­ence

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