July 19, 2017

In Mongolia, where many people have mostly only been exposed to crony capitalism, the community can become very pessimistic when it comes to free-market solutions to succeeding in the business world — especially for entrepreneurs. The Silk Road Foundation (SRF), an Atlas Network partner based in Ulaanbaatar, Mongolia, is working to educate Mongolian people about free-market economies, liberalization, and limited government in hopes of giving the public a better understanding of the benefits of a free society.

SRF recently held its fifth annual Free Market Academy. The three-day event was a way to enlighten people about the basic principles of a free society, and has been typically attended by students and young entrepreneurs.

Mongolia has been harmed by crony capitalism, creating a great demand for training targeted to entrepreneurs because there are many who are still struggling to stabilize their business in the Mongolian market. Free Market Academy attendee G. Sodnom said he appreciates the work SRF is doing to combat this sentiment. “Thanks to the workshop, I’ve understood that we don’t need to be afraid of any obstacles and challenges.”

Participants heard from prominent leaders within the entrepreneurial field — like Ken and Li Schooland of the Acton Institute, an Atlas Network partner based in Michigan, who were the headliners of the event. The academy included the chance to get comprehensive information from fellow innovators and entrepreneurs, especially people based in Mongolia. Participants also discussed topics like human dignity, human rights, rule of law, fairness, and free economies with well-known international economists.

“The young businesses and entrepreneurs were not only active, but able to hold discussions at advanced levels,” said SRF Manager Khaliun Chimeddorj.

In order to obtain a more prosperous and well-developed Mongolia, SRF believes in educating the youth about the basics of freedom. “We believe that our participants will contribute in spreading the ideas of a free market and society to the public,” continued Chimeddorj. “[This] is the best group we’ve ever seen.”

“For me personally, the training has completely changed my way of thinking and changed my vision and [I] have gained some ideas as a businessperson,” said another attendee, U. Munkhdavaa.