SME sector's contribution to GDP 'needs to be doubled'
Friday, 3 December 2010
FE Report
There is need to double the contribution of Small and Medium Enterprise (SME) sector to gross domestic product (GDP) for helping Bangladesh achieve mid-income country status, speakers said at a programme in the city Thursday.
Despite having huge potential, contribution of SME sector to the country's GDP is still lower than those of many other countries, they said.
"Presently, the country's SME sector contributes about 25 per cent to the country's total GDP… The rate has to be enhanced to at least 50 per cent," SME Foundation Chairman Aftab ul Islam said at the programme.
American International University-Bangladesh (AIUB) and SME Foundation signed a memorandum of understanding (MoU) in the programme for jointly organising SME Business Plan Competition (SBPC).
Managing Director and CEO of SME Foundation Syed Rezwanul Kabir and Vice-Chancellor of AIUB Dr Carmen Z Lamagna signed the MoU on behalf of their respective organisations.
Students from public and private universities and university colleges all over Bangladesh will be able to participate in the competition by developing a business plan on a creative idea for an SME. The competition will be held in January 2011.
Pro-VC of AIUB Dr Anwar Hossain and DGM of SMEF Mujibur Rahman were, among others, present at the programme.
There is need to double the contribution of Small and Medium Enterprise (SME) sector to gross domestic product (GDP) for helping Bangladesh achieve mid-income country status, speakers said at a programme in the city Thursday.
Despite having huge potential, contribution of SME sector to the country's GDP is still lower than those of many other countries, they said.
"Presently, the country's SME sector contributes about 25 per cent to the country's total GDP… The rate has to be enhanced to at least 50 per cent," SME Foundation Chairman Aftab ul Islam said at the programme.
American International University-Bangladesh (AIUB) and SME Foundation signed a memorandum of understanding (MoU) in the programme for jointly organising SME Business Plan Competition (SBPC).
Managing Director and CEO of SME Foundation Syed Rezwanul Kabir and Vice-Chancellor of AIUB Dr Carmen Z Lamagna signed the MoU on behalf of their respective organisations.
Students from public and private universities and university colleges all over Bangladesh will be able to participate in the competition by developing a business plan on a creative idea for an SME. The competition will be held in January 2011.
Pro-VC of AIUB Dr Anwar Hossain and DGM of SMEF Mujibur Rahman were, among others, present at the programme.