USAID BEST Program’s Women Entrepreneurs Forum: Ambassador’s Remarks

Remarks of Ambassador Richard L. Buangan 

Opening Of the USAID BEST Program’s Women Entrepreneurs Forum 

March 06, 2024

Shangri-La Hotel Ballroom, Ulaanbaatar

As delivered

Good morning, ladies and gentlemen. It’s an honor to be here. Happy International Women’s Day. Mongolia’s economy is fueled by people, not only men, but also women. It’s heartening to see all of you here, playing roles, fulfilling your dreams and being the engine for economic growth. We come together under the USAID’s Business Excellence for Sustainability and Transparency, or BEST, program, which has been transformative for Mongolia’s small and medium sized business, especially for women-run businesses. I extend my heartfelt congratulations to all participants and the brave women entrepreneurs who have significantly contributed to Mongolia’s economic landscape.  You are all pioneers of Mongolia’s young democracy.  

Promoting the rights and empowerment of women is a U.S. foreign policy priority, not merely because it is right, but because gender equality is a moral imperative. The U.S. Government’s initiatives in Mongolia exemplify our deep-rooted belief in the power of women to drive social and economic advancement. Seeing the tangible outcomes of our initiatives—whether it’s through increased business opportunities, improved entrepreneurship skills, or stronger networks—reaffirms our commitment to gender equality and economic empowerment. 

Two years ago, during our “American Days” event, we underscored our dedication to gender equality through the panel discussion highlighting women in STEM. We were honored to have Aisha Bowe, a former NASA rocket scientist and founder of STEMBoard, share her insights, further affirming our commitment to break down barriers for women in science and technology.

Our USAID-funded projects are making tangible differences in the lives of women across Mongolia. During my visit last year to Khuvsgul aimag, I met an inspiring young woman entrepreneur who runs a bustling coffee shop on the shores of beautiful Khuvsgul Lake. She started with a small grant to buy an oven, then got a bank loan to grow her business even more. This visit served as a vivid reminder of how our initiatives are changing lives by empowering women entrepreneurs and providing them with the resources and support they need to succeed.

This year, as we mark the final year of our five-year journey with the BEST program, we’re grateful for our partnerships with the private sector, especially our banking and financial partnerships, that have helped us achieve shared development goals. These collaborations have been instrumental in providing over 2,400 women-led enterprises with access to loans and training over 14,000 women entrepreneurs, fostering economic growth and resilience.

These partnerships are essential for enhancing women’s economic participation. The U.S. Government remains committed to working alongside local stakeholders to promote gender equality and empower women entrepreneurs. This forum symbolizes our collective effort to share practical experiences, exchange valuable insights, and foster an environment conducive to the growth of women-led enterprises in Mongolia.

Today, let us focus on innovative strategies and collaborative solutions to transcend existing barriers and create opportunities for women entrepreneurs. Our discussions will delve into crucial topics, from organizational leadership to expanding business networks, managing stress, and understanding market positioning. By empowering female business owners and fostering collaboration, we aim to achieve collective victories for economic growth and societal progress.

Thank you for your dedication and participation. Together, let’s ignite real change, elevate the status of female entrepreneurs, and lay the foundation for a more inclusive and equitable business environment.  I wish you all a Happy International Women’s Day.  I wish you all much success in your careers and ambitions. 

By U. S. Embassy Ulaanbaatar | 6 March, 2024 | Topics: Ambassador, News, Press Releases