DHAKA, Sept 24, 2020 (BSS) – Industries Minister Nurul Majid Mahmud Humayun today urged all to work together for sustaining the country’s Small and Medium Enterprises (SMEs).
“As a rising economy of the South Asian region, the scenario of Bangladesh’s SMEs is not different. Small and Medium Enterprises (SMEs) are facing severe trouble due to the pandemic crisis. In this situation, many SMEs have suffered tremendous set back amidst Covid-19 in terms of their production, marketing so on and so forth,” he said.
The minister made the remarks while speaking as the chief guest at a Webinar titled ‘The Pandemic and SMEs: Shock-absorbing policy measure and future debates – Impacts in Bangladesh and Lessons from Responses around the World’, said a press release.
Small and Medium Enterprise (SME) Foundation under the Industries Ministry and the Friedrich-Ebert-Stiftung (FES) Bangladesh Office jointly organised the webinar.
Humayun said the Covid-19 has brought tragic consequences for the health and livelihood of hundreds and thousands of people around the globe. “The crisis has already transformed into an economic and labour market shock. During this difficult time, it is important that jobs need to be preserved, enterprise remain sustainable, affected workers and their families are protected, in particular the most vulnerable and those who are performing silently in the informal economy,” he
added.
The minister said SMEs are considered as the engine of economic growth and development vehicle of a country.
“It has commendable contribution to GDP growth, employment generation, women empowerment, as well as export earnings. The labor-intensive nature and the fascinating art of SME products have made the South Asian region, including Bangladesh capable enough to be competitive in the global market in terms of both quality and price,” he added.
Particularly in Bangladesh, he said, SMEs have been treated as the driving force of our national economy. It has the pivotal role in achieving our National Goals like- `Vision-2021’; LDC graduation by 2024, achieving SDGs by 2030 and to be developed country by 2041.
SME Foundation Chairperson Dr Md Masudur Rahman presided over the discussion.