Mongolia has implemented a “no-roll (cashmere) program” in the textile industry as part of strengthening the industrial base.
The government expects a direct economic effect of stabilizing the workplace of about 5,500 people in the textile industry, securing 3600 new employees, and increasing the export of industrial products by 5.7 times. According to the statistics for FY2017, the company produces about 5,13㌧ of cashmere, about 509㌧ of worsted, and about 915,000 cashmere products. It is said that 90% of domestic cashmere production has undergone initial treatment, while 10% is industrial products. However, the operating rate of the cashmere factory is at a low level of 40% to 60%.
Some say that this is due to the deterioration of the cash flow of domestic companies and the bombing by foreign capital. The government-proclaimed “no-roll program” not only strengthens the domestic cashmere processing industry and manufacturing industry production system, but is also expected to earn foreign currency of approximately 2.3 trillion to 430 million tongue rugs from cashmere product exports. . In addition, it is expected that various problems such as deterioration of cash flow, poor business performance, and securing of raw materials will be solved, which will lead to protection of domestic companies and promotion of the industry.