OUR FOCUS

Youth and Private Sector

Valuing human capital

Mongolia has a young population with nearly one in three classified as youth, that is between 15 and 34 years. A significant challenge facing many of these young people is income generation. With the current economic crises resulting in the fourth largest bailout package in (IMF) history (based on GDP), youth unemployment is nearly 21% (15-24 years, 2016), poverty has increased by 37% within two years (2016), and the school-to-work transition for urban Mongolians is up to 2.9 years. Within and outside Mongolia, entrepreneurship is being pursued by many as a means of addressing such challenges and advancing the achievement of the Sustainable Development Goals (SDGs). Whilst there is a vibrant innovation and entrepreneurship ecosystem in Mongolia, many of the projects and activities use international models often with minimal contextualization and results are often slow to have significant impact. Whilst there is a vibrant entrepreneurship and innovation ecosystem in Mongolia, particularly in Ulaanbaatar, results are often slow to have significant impact and young people are frustrated. On the other hand, poverty is also heavily segregated by geographic location and by industry. From this perspective, inclusive growth is one of the main priorities for Mongolia. Disparities need to be bridged, by creating economic opportunities, improving access to quality education and healthcare services, providing more accessible and efficient public services, and providing employment.

Opportunities and innovation

Our focus is on sustainable, inclusive and green jobs creation, integrity-based business development, private sector involvement in Sustainable Development Goals achievement, transparent and accountable, efficient and inclusive service provision, and equal and equitable access to economic opportunities. UNDP aims to strengthen policies that address barriers for the inclusion of women and youth in the labour market by tackling social stereotypes, ensuring access to affordable services, and promoting youth access to entrepreneurship support schemes.

 

Programmes and Initiatives

Piloting the Sustainable Cashmere Value Chain Business Model in the Eastern Region
Activated 2030

64%

of youth

accounts for total population in Mongolia. The youth will be the most directly affected population group by 2030.

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