Ulaanbaatar Women’s Business Center Opens, Business Services and Training Now Available for Women Entrepreneurs
Ulaanbaatar, July 5, 2016 — Today, Ulaanbaatar’s first Women’s Business Center (WBC) is opening on the first floor of the Capital City Administration Building no. 4. The WBC welcomes new and existing female business owners to avail of the center’s business, marketing, and select financial support services. This center is being established under a three-year pilot Women’s Business Center and Incubator Project, funded by the Korea International Cooperation Agency (KOICA) and implemented by The Asia Foundation jointly with the City Municipality and other partners including Development Solutions, Mongolian National Chamber of Commerce and Industry, and Golomt Bank and Golomt Securities LLC.
Women in Ulaanbaatar continue to face a range of cultural, financial, and legal barriers to their ability to start and grow businesses. In response, The Asia Foundation aims to foster women’s entrepreneurship, improve gender equality in the business sector, while also boosting economic growth and supporting the city’s small and medium-sized enterprise (SME) sector.
The center is expected to support a rising number of women-owned businesses, and provide an enabling environment for women entrepreneurs to receive high-quality business support services. WBC clients will have access to facilities, including computers, high-speed internet, and meeting and co-working space. The center will be open Mondays to Saturdays from 9.00-21.00 hours during summer and 9.00-19.00 hours during winter.
In addition, WBC offers comprehensive business services such as business information, regular business training, targeted consulting services including financial consulting and training, incubation, mentoring, networking events and workshops. These services will be provided through collaboration with a number of local partners.
The center will support the WBC Project’s goal to increase the contribution of women’s entrepreneurship to the urban economy in Mongolia. The main impacts of this project are to promote gender equality, increase job creation, contribute to women economic empowerment, and support the Ulaanbaatar Economic Development Strategy, particularly the aim to create a better enabling environment for SMEs.
The Asia Foundation is a nonprofit international development organization committed to improving lives across a dynamic and developing Asia. Informed by six decades of experience and deep local expertise, our programs address critical issues affecting Asia in the 21st century—governance and law, economic development, women’s empowerment, environment, and regional cooperation.
Read more about the Foundation’s work.
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