Home / Knowledge / News / Textiles / Mongolia raising funds to support wool sector
Mongolia raising funds to support wool sector
18
May '11
To support the wool and cashmere sector, Mongolian Government is raising MNT 110 million by selling bonds.

The decision has been welcomed by both the Mongol Cashmere Association and the Union of Wool and Cashmere Producers.

Mongolia produces about 23 percent of the total world production of cashmere or between 6,000 and 7,000 tons annually. However, most of this (80 percent) is exported to China free of tax – a reason why national companies are in need of Government support.

Government loans from the MNT 110 million fund would provide the national companies the much required capital to purchase cashmere from herders in Mongolia.

This may not only save about 6,000 jobs but also create 1,600 new ones. The additional capital would also enable companies to produce goods worth MNT 250 billion, but again, most of it could be exported.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Courtesy: Bebe

Apparel/Garments | On 24th Mar 2017

Bebe Stores exploring strategic alternatives

Bebe Stores has announced that its board of directors is exploring...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search