Investing remittances in SMEs can create jobs, strengthen local economy: IOM chief
Mock parliamentary debate event highlighted migrant protection and productive investment.
Investing a portion of remittance inflows in small and medium enterprises (SMEs) will create new jobs, strengthen the local economy and open up new opportunities for future generations, IOM Bangladesh Chief of Mission Laura Tomm Bonde said today (22 August).
"When migration is safe, regular and orderly, its benefits are not limited to an individual migrant," she said while addressing a mock parliamentary debate as chief guest at the Bangladesh Film Development Corporation (FDC) in the capital to mark International Day of Family Remittances 2026.
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The event was jointly organised by Debate for Democracy and IOM Bangladesh, with support from the European Union.
Laura Tomm Bonde said safe, regular and orderly migration contributes to the overall development of families, society and the country, while every remittance reflects the hard work, resilience and sense of responsibility of Bangladeshi expatriates.
She emphasised that directing a portion of remittances into the SME sector would boost local economic momentum and create sustainable opportunities for future generations.
"IOM is working closely with the government to improve migration management and ensure the protection of migrants," she added.
Chairing the event, Debate for Democracy Chairman Hasan Ahmed Chowdhury Kiron described expatriate workers as the nation's economic heroes, saying remittances serve as a key driver of the economy and a major pillar of foreign exchange reserves.
He said migration is directly linked to the employment of nearly 25% of Bangladesh's workforce, adding that the national poverty rate would have been roughly 10% higher without overseas employment opportunities.
Kiron stressed the importance of channelling remittances into productive investments, particularly SMEs, rather than using them solely for consumption, to ensure the long-term financial stability of migrant families.
In the debate competition titled "Investing Remittances in the SME Sector is the Best Strategy for Protecting Migrant Families", Dhaka International University emerged as the winner, defeating the debating team from the State University of Bangladesh.
