White Gold Program initiatives accelerated Mongolia’s light industry expansion as President Khurelsukh Ukhnaa toured leading manufacturers this week. The visit underscored government efforts to strengthen domestic processing and boost export competitiveness nationwide.
During the visit, President Khurelsukh emphasized industrial modernization as essential for economic resilience and diversified growth. Moreover, officials highlighted value-added production as a long-term policy priority.
First, the president visited Tod Oims LLC, a wool-processing company established in 2011 employing more than 200 workers. The firm annually procures 1,000 tons of raw wool and produces yarn and finished textile products.
In addition, the company processes raw materials collected directly from herders through multiple production stages. Consequently, Tod Oims supports rural incomes while stabilizing domestic supply chains.
Through the White Gold Program, Tod Oims secured MNT 4.2 billion in working capital loans. As a result, the company expanded inventories and increased production capacity.
Next, President Khurelsukh visited Goyol Cashmere LLC, a knitwear producer operating since 2005 with more than 200 employees. The company exports finished goods to over 20 international markets.
Under the White Gold Program, Goyol received MNT 24 billion in working capital and investment loans. Therefore, the firm significantly expanded procurement, equipment capacity, and export volumes.
Compared with last year, raw material procurement tripled, while production output, exports, and equipment capacity each rose by 30 percent. Meanwhile, employment at the company increased by 25 percent.
Furthermore, Goyol introduced compost fertilizer production using food waste. This initiative reduces carbon emissions and supports environmentally sustainable manufacturing practices.
Business leaders praised the White Gold Program for improving financing access and encouraging long-term investment planning. They also urged authorities to accelerate construction of spinning factories nationwide.
Accordingly, industry representatives expect higher export earnings and increased incomes for herders and suppliers. Moreover, they anticipate stronger global recognition of Mongolian cashmere products.
President Khurelsukh expressed appreciation for enterprises creating jobs and supplying value-added products to domestic and foreign markets. He noted that domestic procurement reached 6,000 tons of cashmere.
As of December 15, authorities extended MNT 493 billion in loans supporting wool, cashmere, hides, and skins processing. Consequently, spinning capacity surpassed 2,000 tons nationwide.
Meanwhile, knitting capacity increased by 200,000 units, strengthening downstream manufacturing capabilities. In 2023, Mongolia exported USD 440 million in cashmere products.
Under the White Gold Program, exports of combed cashmere increased fivefold, reflecting rapid structural progress. Officials view this trend as critical for long-term industrial transformation.
The program runs from 2024 through 2028 and targets higher processing rates across livestock materials. Overall, the White Gold Program aims to create more than 8,000 jobs and nearly double export earnings.
