DHAKA, Jan 22, 2025 (BSS) – Newly appointed Chairman to the SME Foundation Mushfiqur Rahman today urged all concerned stakeholders to work shoulder to shoulder for the development of the SME sector.

He said this at a workshop titled 'SME Policy-2025: Potentials, Challenges, Thoughts of Media' held at the ERF auditorium in the capital’s Paltan area today.

The workshop was jointly organized by the Economic Reporters Forum (ERF) and the SME Foundation.

Presided over by ERF President Doulat Akhter Mala, SME Foundation's Managing Director Anwar Hossain and DCCI President Taskeen Ahmed spoke at the workshop as special guests.

The keynote presentation was made by the Foundation's General Manager Mohammad Jahangir Hossain.

Chairman of the SME Foundation said that if everyone works together, then it is possible to take forward the economy of Bangladesh a long way.

“The current and future era is the time of artificial intelligence (AI) while this is bagging the job markets. Due to this AI, 30 percent of job opportunities have already been declined in the garment sector of Bangladesh. In this situation, the opportunities for self-employment will increase in the future. Then the contribution of the SME sector to the national economy will increase further,” he added.

Mushfiqur said, therefore, policy support must be provided to the entrepreneurs in the SME sector. For this, he emphasized on the need for having a strong data bank based on which, opportunities for SMEs can be ensured.

He also emphasized on the need for ensuring day-care centers to involve more women entrepreneurs in this sector.

Managing Director of the SME Foundation Anwar Hossain said that if small entrepreneurs cannot be protected, then corporate would not survive either. “So, there will be initiatives in the new SME policy to ensure that SMEs do not get lost. It will be included in the policy on how to protect them,”

DCCI President Taskeen Ahmed said although the CMSME sector has a global market share of $750 billion, but Bangladesh exports amount only about $1 billion there.

In order to seize this market in the future, he suggested separating ‘CMS’ from ‘CMSME’ in the ensuing SME Policy-2025.

Taskeen also suggested imposing direct taxes instead of increasing VAT rates to boost the government’s revenue collection.