Saturday, 18th May, 2024
Saturday, 18th May, 2024

BUILD urges govt to revisit SME policy

The Business Initiatives Leading Development
(BUILD), a joint initiative of DCCI, MCCI and CCCI, has urged the government
to revisit the SME policy.

It has also urged the government to clarify the definition of CMSME & WE,
Logistics in the upcoming National Industrial Policy 2021.

The urge came from the 7th meeting of the SME Development Working
Committee of BUILD held yesterday. The meeting was co-chaired by KM Ali Azam,
Secretary, Ministry of Industries and Mahbubul Alam, President, Chittagong
Chamber of Commerce and Industry (CCCI).

Ferdaus Ara Begum CEO, BUILD made two key note presentations on Industrial
Policy 2016 and Support for CMSMEs in Bangladesh & Revisiting the Action Plan
of SME Policy 2019 to Address COVID-19 Situation, said a press release today.

Industries Secretary KM Ali Azam said to attain the goals set by the
government by 2041, it is very essential to implement demand-based individual
cottage, micro, small, medium & large industries.

He also said that the Ministry of Industries will consider all the
recommendations placed by BUILD in the National Industrial Policy 2021.

CCCI President Mahbubul Alam in his welcome speech said that there is no
alternative for harmonized and synchronized policy advocacy for sustainable
SME growth in Bangladesh. He said around 99 percent of the industries in
Bangladesh belong to the SME sector while this sector contributes to 86
percent of the total employment generation in Bangladesh.

“The constraints faced by the SMEs need to be addressed in the upcoming
Industrial Policy and SME Policy properly,” added Mahbubul.

The CCCI President also drew the attention of the government to ensure
ease of financing for the WEs.

The CEO of BUILD informed that among 26 recommendations placed before the
6th SMEDWC, 10 have been implemented while 2 are in process.

She stressed the need for inclusion of logistics as a high priority sector
in the National Industrial Policy 2021.

Ferdous Ara said Bangladesh is going to graduate from the LDC status by
2024 and this will be a huge achievement for the country.

On the other hand, she said Bangladesh would lose some preferential
treatment in the export market. “To attain sustainable cost competitiveness,
there is no alternative for improving the logistics scenario in Bangladesh,”
she added.

She emphasized the need for designing the action plan for ensuring
fruitful implementation of the ensuing National Industrial Policy 2021 by
addressing the impact of COVID-19 in the socioeconomic context.


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