Dhaka Chamber, SME Foundation join hands for CMSME development
Country’s two strongest SME promoters join hands to work on easy access to finance and skills in the sector
Dhaka Chamber of Commerce and Industry (DCCI) and Small and Medium Enterprise (SME) Foundation have inked a Memorandum of Cooperation (MoC) for the inclusive development of the Cottage, Micro, Small and Medium Enterprises (CMSME) sector.
SME Foundation Managing Director Dr Md Mafizur Rahman and DCCI Secretary General Afsarul Arifeen signed the document on behalf of their respective organisations at the DCCI office in Dhaka on Sunday.
DCCI President Rizwan Rahman and Chairman of SME Foundation Dr Md Masudur Rahman were also present on the occasion.
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During the signing ceremony, DCCI President Rizwan Rahman said, "The CMSME sector sometimes faces various challenges like easy financing, industry infrastructure, innovation, skill and modern technology, even though this sector contributes more than 25% of the GDP."
"Under this cooperation memorandum, both the parties will also work for SME entrepreneurship development, policy advocacy, policy reforms, cluster development, export diversification, market exploration and capacity development to face the challenges of LDC graduation," he added.
Chairman of SME Foundation Dr Md Masudur Rahman said it would not be possible to attain inclusive growth with the existence of disparity in society.
"The development of the SME sector will ensure this inclusivity as the sector covers the major portion of the economy," he said, adding that both SME Foundation and DCCI will join hands to move together for policy advocacy.
"Bangladesh is going through a transition period and now we have to work for technological advancement. For product innovation, we need research and development. Moreover, we have to go for high-end skills with higher wages to get better output," he said.
Masudur termed the private sector as the main engine of growth and said the private sector should lead the economy by having a good synergy with the public sector.
Managing Director of SME Foundation Dr Md Mafizur Rahman said, "CMSME sector creates 85-89% employment generation in the country. The SME sector's contribution to GDP is now about 27-28%. We have more than 50% women in the country and we have to facilitate them to be entrepreneurs."
