Dhaka Chamber of Commerce and Industry (DCCI) submitted a total of 25 proposals hopefully to be included in the upcoming Industrial Policy 2021.
DCCI President Rizwan Rahman handed over the recommendations in writing to the Secretary of Ministry of Industries, K M Ali Azam, the Chamber said in a press release on Thursday.
The Chamber proposed reconstituting the definition of SME (Small and medium-sized enterprise), and bringing the Medium category out of Cottage, Micro and Small and adding it to Large category of Industries.
The DCCI feels that if the proposal is accepted, the cottage, micro and small enterprises can get financial and policy benefits with ease.
The Chamber recommended establishing a National SME Cluster Development Authority which it says will foster the sector specific cluster to ensure more productivity and diversification.
Considering that after the graduation from LDC status, Bangladesh may lose duty and quota free access in different markets, the DCCI suggested that the government should initiate signing of FTA or PTA with potential countries in order to sustain in the export market.
To grab the opportunity that due to the fourth industrial revolution 3.9 million new jobs will be created, the DCCI suggested taking re-skilling and up-skilling initiatives from now on.
Mentioning that a balanced taxation structure will expedite local and foreign investment in the country, the Chamber urged the government to establish technology adoption and dissemination centre to increase product’s diversification and quality.
Specific guidelines have also been sought to strengthen logistic support in order to make the e-commerce sector effective, the DCCI added.
The Chamber also feels that separate incentive packages should be allocated for the import substitute SMEs in the Special Economic Zones.
The DCCI proposed forming an SME bank in the country to give the SMEs easy access to credit and also recommended allocating a Crisis Mitigation Fund under the central bank.
Moreover, the DCCI recommended the next Industrial Policy should be consistent with the policies of BEZA, NBR, BEPZA, BIDA, BSCIC and Bangladesh Bank.