A strong and globally standard small and medium enterprises sector is a must to foster an innovative, inclusive and sustainable national economy, said experts.
They also said that sufficient governmental supports and a strategic priority of industrial policy were mandatory to strengthen the capacity of the SME sector of the country.
They were speaking at an event celebrating International MSME Day 2025, organised by the SME Foundation in cooperation with the聽International Labour Organisation in the capital Dhaka on Sunday.
At the event, Lutfey Siddiqi, special envoy for international affairs to the chief adviser, said that the government will provide all necessary support to youths, who can harness their skills to become SME entrepreneurs.
He said that prioritising small and medium-sized enterprises sector and entrepreneurial development was important in the country鈥檚 current economic strategy.
Lutfey Siddiqi said that if the entrepreneurs could maintain global standards, their businesses would be competitive.
鈥楽trengthening global networking is essential for the development of the MSME sector to increase international access,鈥� he added.
He stated that, in this regard, entrepreneurs required support in participating in international trade shows, achieving standard certification and receiving incentives to promote export-oriented SMEs, along with access to digital export platforms.
On June 27, Bangladesh observed International MSME Day 2025 with a series of events under theme of 鈥楨nhancing the Role of MSMEs as Drivers of Sustainable Growth and Innovation. 鈥�
The United Nations designated June 27 as MSME Day in 2017, highlighting the sector鈥檚 crucial role in achieving Sustainable Development Goals.
By 2030, the world would need 600 million jobs, with seven out of every ten created within the MSME sector.
Globally, the MSMEs contribute to 90 per cent of businesses, 60-70 per cent of employment and 50 per cent of GDP, the UN said.
In his speech, Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority, emphasised the importance of strengthening the SME sector to foster an innovative, inclusive and sustainable economy.
鈥楽ME and investment are complementary to each other and through its one stop service centre, the BIDA has brought multifaceted assistance for the sector, including trade licence, VAT and tax registration, investment registration, application for gas, water and electricity and others,鈥� he added.
He said that the large-scale industrial sector of the country usually faced complexity regarding backward linkage.
鈥業f we can establish a skilled, innovative and standard SME sector, it would accelerate the competitiveness of large-scale industries,鈥� he added, saying that strengthening the capacity of the SME sector should be a strategic priority of industrial policy.
SME Foundation chairperson Md Musfiqur Rahman stated that the foundation had served over two million entrepreneurs directly and indirectly since its inception, including 2,50,000 direct beneficiaries, with 55 per cent being women entrepreneurs.
鈥楾hrough the Credit Wholesaling Programme launched in 2009, we disbursed over Tk 1,010 crore to nearly 11,000 entrepreneurs, at least 25 per cent of whom are women,鈥� he added.
He also emphasised the foundation鈥檚 ongoing efforts in creating new entrepreneurs, enhancing skills and capacities, promoting ICT-friendly business practices and advocating for policy support to strengthen the SME sector.
However, he noted, due to financial and institutional limitations, the foundation cannot fully meet nationwide demand, highlighting the need for government support.
Meanwhile, the UN also acknowledged that access to finance remained a major challenge, with 41 per cent of entrepreneurs in least-developed countries, 30 per cent in middle-income countries and 15 per cent in high-income countries facing difficulties in obtaining loans.
Centre for Policy Dialogue distinguished fellow Debapriya Bhattacharya said that the SME sector played a pivotal role in the national economy.
He urged political parties to explicitly outline their plans for SME development in their upcoming election manifestos, emphasising that political commitment was crucial for progress in this sector.
Industries secretary Md Obaidur Rahman and Pedro Jr Bellen, officer in charge of the ILO Country Office, Bangladesh, also spoke at the event, where Anwar Hossain Chowdhury, managing director of the SME Foundation, delivered welcome remarks.
On the sidelines of the event, the Asia Foundation organised a daylong product exhibition for women entrepreneurs, where 70 entrepreneurs showcased their products.