Mongolia: Plans for pan-industry investment

1 July 2013

The government of Mongolia has committed itself to look at upgrading existing leather factories in the region, as well as financing a new complex in Darkhan-Uul province.

The Minister of Industry and Agriculture, Kh Battulga, foresaw potential income of one trillion MNT from leather industry sales. "Our country is capable of introducing technology from Italy, Spain and Turkey, the countries that are leading in the technology sector, by 2016 and producing leather products domestically," he said.

According to forecasts, nearly 24,700 jobs could be created by suggested investments in the leather goods industry. Within Mongolia, there are 35 leather processing factories and over 170 leather product manufacturing factories.

Only 25.8% of raw leather produced within the region is currently processed domestically, the vast majority being exported to China.

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