Speakers at a meeting on Monday urged to address definition of CMSME & WE, Logistics in upcoming National Industrial Policy 2021 & Revisit SME Policy
The demands were made in the 7th meeting of the SME Development Working Committee of BUILD, held on Sunday.
The meeting was co-chaired by K M Ali Azam, Secretary, Ministry of Industries and Mahbubul Alam, President, Chittagong Chamber of Commerce and Industry (CCCI).
Ferdaus Ara Begum CEO, BUILD presented two key notes presentations on Industrial Policy 2016 and Support for CMSMEs in Bangladesh & Revisiting the Action Plan of SME Policy 2019 to Address COVID-19 Situation.
CEO BUILD informed in the very beginning of her speech that among the 26 recommendations placed in the 6th SMEDWC, 10 have been implemented and 2 are in process. She stressed on the importance of the inclusion of Logistics as a High Priority Sector in the National Industrial Policy 2021. Bangladesh is going to graduate from LDC by 2024.
This will be a huge achievement for Bangladesh. On the other hand, we will lose some preferential treatment in the export market. To attain sustainable cost competitiveness, there is no alternative to improve the logistics scenario in Bangladesh. Replacement Cost and Value of Fixed assets excluding and buildings may need further clarification.
She emphasized on the design of action plan for the fruitful implementation of National Industrial Policy2021’ by addressing the impact of COVID-19 in the socioeconomic context. She urged the inclusion of the definition of CMSME and Women Entrepreneurs in theIndustrial Policy 2021. National Policy for SME cluster base development as well as to ensure ease of finance for the clusters needs to be ensured.
K M Ali Azam, Secretary, Ministry of Industries thanked BUILD for presenting two time being presentations as well as for organizing such a wonderful meeting.
To reach the goals set by the government by 2041, it is very essential to implement demand based individual Cottage, Micro, Small, Medium & Large industries. The Ministry of Industries will consider all the recommendations placed by BUILD in the National Policy 2021.
Mahbubul Alam, President, Chittagong Chamber of Commerce and Industry (CCCI) in his welcome speech said that there is no alternative to harmonized and synchronized policy advocacy for the sustainable SME growth in Bangladesh. 99% of the industries in Bangladesh belong to the SME sector. This sector contributes 86% of total employment generation in Bangladesh.
The way forward to resolve the constraints faced by SMEs needs to be addressed in the upcoming Industrial Policy and SME Policy properly. President CCCI drew the attention of the government to ensure ease of financing for the WEs.
Professor Dr. Momtaz Uddin Ahmed suggested including handicrafts to the cottage industry to ensure its growth. Policies for Cottage, Micro & Small industries should get individual concentration. On the other hand medium & large industries need to be treated under a separate policy.
“Because of these policy gaps, contribution of SME could not be calculated though their contribution to GDP and total employment generation is huge. Separate ministry for the development of CMSME would be formed”, he added.
Dr. Nadia Binte Amin, President of WEND raised that WEs are deprived from availing financial assistance of the government announced FSP to cope up with the aftermath of pandemic. WEs have been suffering a huge financial loss and unavailability of the FSP makes the situation worse.
