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New method of cooperation needed for business owners in Mongolia www.montsame.mn
Domestic companies and entities will soon be faced with major challenges, such as necessary technological updates and inflation caused by the pandemic. In order to save their businesses, business owners have to follow new way of operation and work together to overcome the new challenges, highlighted the participants of the ‘Executive Summit 2021’ event that took place on December 7.
In order to support the implementation of the Government’s New Revival Policy for the country’s economy, it is necessary to reduce the burden that is put on businesses, the participants agreed. Noting that obtaining nearly 1,400 permissions from the government counts as a loss for businesses as it requires a lot of time, they highlighted that a reform is needed for the legal environment of businesses. During the discussion, it was also mentioned that some countries have temporarily lifted certain specific regulations that are normally implemented in order to save jobs, allow private entities to freely run their operations, and attract foreign investment.
As dynamic skills and performance-based models have begun to be of higher importance during the current pandemic situation, it has also become necessary for human resource managers to have a certain set of skills including utilizing employees’ personalities and agility in continuing to keep the quality of work.
The second ‘Executive Summit’ organized by the Business Academy under the Mongolian National Chamber of Commerce and Industry, was attended by CEOs, CFOs, and HR Directors of about 200 companies.
Published Date:2021-12-12
