The Asia Foundation is commemorating its 70th anniversary in 2024 by highlighting its significant contributions to the region over the past seven decades. The organization has collaborated with diverse stakeholders from government, civil society, the private sector, and academia to address the most pressing challenges facing Asia and the Pacific.
One notable achievement is the establishment of the Mongolia Women’s Business Center (WBC) in 2016. This initiative has fostered an environment where women can thrive as entrepreneurs and has paved the way for greater women’s leadership in Mongolia’s economy.
Tuya Baigal-Erdene, a Mongolian entrepreneur, faced significant challenges when she returned to her home country after working in South Korea. She launched her own business, Nogoodoi, to produce packaged vegetable juices from local organic ingredients. Despite her experience in food production technology, Tuya lacked business skills related to distribution and marketing. She struggled to break into the broader marketplace and maintain her inventory and finances.
Tuya’s fortunes changed when she discovered the WBC. The center provided her with the necessary support and resources to overcome the unique challenges faced by women entrepreneurs in Mongolia.
Women entrepreneurs in Mongolia, like many countries, face significant cultural and financial barriers. Traditional gender roles often discourage women from pursuing business aspirations, and they are often offered smaller business loans with higher interest rates. Additionally, the time-intensive responsibilities of caregiving can hinder their ability to build successful enterprises. As a result, women-owned businesses in Mongolia tend to be informal micro-enterprises with limited growth prospects.
The Asia Foundation is committed to continuing its work in empowering women and fostering economic growth in the region. By sharing its successes and lessons learned, the organization aims to build on its achievements in the decades ahead.
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