Thrust on access to finance, market for SME sector’s development

Seven-day National SME Products Fair 2019 begins in city

FE Report | Published: March 16, 2019 22:06:11

Easy access to finance, greater market access and necessary policy support from the government have been considered vital for developing the country's SMEs sector.
Besides, modern laboratory facilities for assessing the quality of products and adoption of modern technological know-how are needed for the small and medium enterprises (SMEs) to flourish.
These were viewed by speakers and entrepreneurs at an inaugural ceremony of a seven-day National SME Products Fair 2019 at the Bangabandhu International Conference Centre (BICC) in the capital on Saturday.
Industries Minister Nurul Majid Mahmud Humayun inaugurated the fair as the chief guest.
State Minister for Industries Kamal Ahmed Mojumder and Industries Secretary Md Abdul Halim also spoke at the inaugural function with the SME Foundation Chairperson KM Habib Ullah in the chair.
At the function, six SME entrepreneurs were awarded for their outstanding contribution to the country's economic development, with each receiving a Tk 100,000 cheque, a trophy and a certificate.
Speaking on the occasion, the industries minister said the government has already taken an initiative to set up a permanent sales and display centre in the city's Purbachal area, which will help entrepreneurs exhibit their products.
Mr KM Habib Ullah said the entrepreneurs are not getting loans at single digit rate of interest, which needs to be ensured accordingly.
The SME Foundation has so far provided loans amounting to Tk 800 million to the entrepreneurs, he said, adding that the amount is insufficient.
Taharima Begum, an award recipient, sought Bangladesh Bank's necessary intervention in reducing the banks' lending rate to 5.0 per cent from existing 9.0 per cent.
Being organised by the SME Foundation, some 280 SME entrepreneurs, consisting of 188 women and 92 men, are taking part in the fair with showcasing their products like jute goods, agriculture, food and leather products, electronic and electrical items.
Apart from this, the entrepreneurs also displaying light engineering products, herbal items, handicrafts, plastic and synthetics items, information technology, design and fashion products.
Taharima Begum in micro category (female), Md Oli Ullah in micro category (male), Sumona Sultana Sathi in small category (female), Mohiuddin in small category (male), Nazma Khatun in medium category (female) and Arifa Yesmin Moyuri, who is a transgender, in special category , received the 'National SME Entrepreneurs Award-2019' during the function.
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