Will Update SME Database Soon: Industries Minister

The SME database will be updated soon to ensure the benefits of the incentive package, Industries Minister Nurul Majid Mahmud Humayun said Tuesday.

He said this while addressing as a guest speaker at a virtual dialogue titled "Covid-19 Economic Crisis and SME Industry of Bangladesh”, said a press release.

'Resurgent Bangladesh' policy development platform, a joint venture of Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka Chamber of Commerce and Industry (DCCI), Chittagong Stock Exchange (CSE), BUIL and Policy Exchange, arranged the dialogue.

He said the SME Foundation and the Bangladesh Bureau of Statistics would update the database with the help of the industries ministry.

The minister hoped that this move will help provide incentives to the real affected cottage, small and medium enterprises at the grassroots level.

He said that monitoring activities have already been launched at the district level to ensure the benefits of the incentives announced by the Prime Minister for the real affected SME entrepreneurs at the grassroots level.

A scrutinizing committee has been formed, led by the deputy commissioner, to identify the real victims and this committee has started its work, said Nurul Majid.

The biggest challenge in this situation is to retain existing employment as well as create new employment. The SME sector can play an important role as the lifeblood of the economy in meeting this challenge.

Humayun added that the government has taken practical steps to keep economic activities and industrialization running even amid the coronavirus situation.

Apart from this, efforts are being made to involve the returnee migrants in the productive SME sector, said the minister.

''Coronavirus has created an opportunity to relocate foreign manufacturing industries to Bangladesh under the changed circumstances. This has brought new opportunities for the country’s SME sector,'' he said.

He sought the help of all concerned, including SME industrialists, to make use of this possibility.

Besides, the minister assured the dialogue organizers that the government would take immediate steps to implement the logical recommendations of the dialogue.

Source: UNB