Bangladesh experienced a robust economic performance in recent years. Living standards to have improved significantly, as the country remains committed to its broader objectives of transforming Bangladesh into an Upper Middle-Income Country by 2031 and a High-Income Country by 2041.
SMEs now occupies an important position in the national economy. They account for about 45 percent of manufacturing value addition, about 80 percent of industrial employment, about 90 percent of total industrial units, and about 25 percent of the labor force. Their total contribution to export earnings varies from 75 percent to 80 percent. SMEs play a huge role in such large-scale development in livelihood and conditions. It is generally accepted that Small and Medium-sized Enterprises are endowed with the potential for innovation, job creation, and income growth, impacting the lives of the vast majority of the population in every country. Driven by entrepreneurship, SMEs represent a real lever for economic and social growth, especially in emerging economies like Bangladesh.
• Highlight the growth and proliferation of Bangladesh’s SMEs, and the massive informal market that yet to be tapped completely.
• Inform the distinguished participants on the policy support and simplification of complex procedures made in recent years, especially during Covid, and the sustained prioritization of the segment by the Government of Bangladesh.
• Propagate the continued role of Banks, MFIs and NGOs in providing vital financial services to SMEs, along with guidance on business development, market linkage and improving the digital and financial literacy of SMEs.
• Highlight the impact of SME development on livelihood improvement and human development and increased vibrancy in rural economy.
• Discuss the high potential of SMEs in providing critical supply-chain linkage and further increasing productivity in the industrial sector.
THE INDUSTRIAL SECTOR MAKES UP 31% OF THE COUNTRY’SGROSS DOMESTIC PRODUCT (GDP), MOST OF WHICH IS COMING FROM SMES