Action plan for SMEs needed to face LDC graduation challenges: Experts
The small and medium-sized enterprises (SMEs) in the country need specific action plans to meet the challenge of Bangladesh's transition from a least developed country (LDC) to the developing country status, said experts at a seminar in Dhaka.
The seminar titled LDC Graduation of Bangladesh: Challenges and Opportunities for SMEs' was organised on Wednesday by the SME Foundation and German development organisation Friedrich-Ebert-Stiftung (FES), Bangladesh at Agargaon in the capital.
Abu Hena Reza Hasan, professor of the Department of International Relations at Dhaka University, emphasised the need for specific action plans to address the challenges facing Bangladesh's SME sector in light of the country's transition from an LDC to a developing country.
Keep updated, follow The Business Standard's Google news channel
He pointed out that the lack of skilled manpower, managers, and technology is a major hurdle that needs to be addressed.
To tackle this issue, he recommended that the government invest in producing skilled human resources for the manufacturing and service sectors.
"The existing training institutes should be upgraded to meet the demands of SMEs and the economy following LDC graduation, and if necessary, new training institutes should be established," he said.
State Minister for Planning Dr Shamsul Alam as chief guest said, "While we face challenges during the LDC graduation, we must also focus on the opportunities. The quality of the products, environmentally friendly factories, and good agriculture must be emphasised."
SME Foundation chairperson Dr Masudur Rahman, managing director Md Mafizur Rahman, Dhaka Chamber of Commerce & Industry (DCCI) President Sameer Sattar, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Senior Vice President Mostofa Azad Chowdhury Babu also spoke at the event.
