Friday, April 19, 2019 | ePaper

Enhancing roles of SMEs to develop BD's economy stressed

  • Print
Economic Reporter :
Speakers at a seminar on Thursday underscored the need for enhancing the contributions of the Small and Medium Enterprises (SMEs) to advance the country like Japan.
The speakers came up with the observation at the International Cooperation Organisation for Small and Medium Enterprises in Asia (ICOSA) seminar on "The Role of SMEs in the National Economy-the Case of Japan and How Bangladesh should go ahead" at the Banani Club in the city.
The Japan Bangladesh Chamber of Commerce and Industry (JBCCI), Bangladesh Aots Alumni Society (BAAS) and Chattogram Aots Alumni Society (CAAS) jointly organised the seminar.
Economist Professor Dr Wahiduddin Mahmud attended the seminar as the chief guest while ICOSA President Professor Dr Kurose Naohiro delivered the key note paper.
Chittagong University Professor Dr Mohammad Saleh Jahur, Former Secretary Dr Muhammad Abdul Mazid, and JBCCI Member Secretary Dr AKM Moazzem Hussain were, among others, present on the occasion.
In Japan, Kurose Naohiro said, SMEs account for 99.70 percent of enterprises or 3.8 million companies, including 4,10,000 manufacturing companies and those who work there share 70.10 percent of employed workers or 33.61 million for non-primary industry.
"SMEs are contributing as a place of labor for many people in any era, but in addition to that, SMEs play a different role for the national economy in each era than large enterprises," he added.
Abdul Mazid said SMEs are the backbone of the national economy and it is also vital for sustainable and viable economic development of the country.
The government should take more initiatives, including credit facilities and tax incentives, for further development of the sector, he added.
Saleh Jahur said the development of SMEs in Bangladesh like other developing economies depends on four important factors- macroeconomic aspect, business environment, growth opportunities and historical determinants.
Despite continuous endeavor on the part of government and its agent to develop SMEs in Bangladesh, SMEs face problems and challenges in all four aspects specifically market and networking, technology, finance, poor infrastructure and policy support of government, and entrepreneurial professional and managerial credibility, he added.
He urged the authorities concerned to take necessary steps to overcome the challenges and increase the roles of SMEs in the country's national economy.

More News For this Category

BD a remarkable success story in Asia: ICCB president

BD a remarkable success story in Asia: ICCB president

Business Desk  :International Chamber of Commerce Bangladesh (ICCB) President Mahbubur Rahman Thursday said Bangladesh has become one of Asia's most remarkable success stories in recent past.  "Bangladesh is an

BPO summit on 21 April

BPO summit on 21 April

Staff Reporter :Business Process Outsourcing (BPO) summit will be held on April 21, 22 with the title 'BPO Conference Bangladesh 2019' to purpose of represent the position of this

Nagad likely to come under BB's supervision

Nagad likely to come under BB's supervision

Gazi Anowar :Nagad, a digital financial service of Bangladesh Postal Department, is likely to come under the regulatory supervision of Bangladesh Bank (BB) to avoid complexities and maintain stability

Bangladesh business seminar in Japan today

Bangladesh business seminar in Japan today

Business Desk :The 'Bangladesh Business Seminar' will be held today (Friday) at Fukuoka Chamber of Commerce and Industry conference room in Fukuoka, Japan for expanding bilateral trade and investment

Traders for more capacity building at Benapole port

Business Desk :The bilateral trade figure between Bangladesh and India now stands at $ 9.4 billion and Benapole port is mainly playing the pivotal role of facilitating export and

New budget to boost motorcycle manufacturing

New budget to boost motorcycle manufacturing

Economic Reporter :Motorcycle production in the country would be encouraged in the upcoming national budget, said National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan on Thursday.Besides, the

Hafiz Imroz Mahmud, Head of Retail Banking Division of NRBC Bank Limited and Georgiy Perezhogin, Director of PRB Branch of Trest Rosspetsenergomontazh Limited Trade Corporation, Russia, the general contractor of Rooppur Nuclear Power Plant Project exchanging a MoU signing document to provide all kinds of banking services to the project at the bank's Rooppur branch on Tuesday. Senior executives from respective organizations were also present.

Hafiz Imroz Mahmud, Head of Retail Banking Division of NRBC Bank Limited and Georgiy Perezhogin, Director of PRB Branch of Trest Rosspetsenergomontazh Limited Trade Corporation, Russia, the general contractor of Rooppur Nuclear Power Plant Project exchanging a MoU signing document to provide all kinds of banking services to the project at the bank's Rooppur branch on Tuesday. Senior executives from respective organizations were also present.

.

Asian markets in retreat ahead of Easter break

AFP, Hong Kong :Asian markets fell Thursday as investors in most countries wound down going into the long Easter break, with positive comments on the China-US trade talks and

New Zealand abandons plans for capital gains tax

AFP, Wellington :Prime Minister Jacinda Ardern on Wednesday abandoned plans for a capital gains tax despite strongly backing it at the last election, leaving New Zealand among a handful

16 companies to take part in Putin's meeting with French businessmen

TASS, Moscow :A total of 16 companies will take part in Russian President Vladimir Putin's meeting with French businessmen on Thursday, the head of the Russian-French Commerce and Industry