A delegation of Japan Bangladesh Chamber of Commerce and Industry (JBCCI) has met industries minister Nurul Majid Mahmud Humayun at his ministry office at Motijheel in the capital on Sunday.
JBCCI proposed to organize an inter-ministerial meeting for addressing the issues of SMEs under the leadership of the Ministry of Industries. The minister appreciated the proposal and agreed to take action in this regard.
JBCCI delegation showed the development of SMEs in Bangladesh. They have also shared the Study Report on recommending a framework for the development of the SME sector in Bangladesh jointly conducted by JBCCI and the International Cooperation Organization for Small and Medium Enterprise in Asia (ICOSA).
JBCCI pointed out some major suggestions including establish a separate division in the name of SME under the ministry of the industry for dealing with SME affairs, set up a SME Bank to facilitate lending to SMEs, form a specific chamber or an association for SMEs, allocate a separate Special Economic Zone (SEZ) for SMEs.
Formulation of SME Act to ensure legal protection of the sector, Involvement of local government in facilitating SME activities.
Industries Minister appreciated the findings and proposals of the study. He mentioned about the potential role of the SME sector in the economic development of a country citing the example of many Asian countries and European countries.
Both sides expressed their views on prospects and problems, access to formal finance, SME loan constraints, and experiences in other economies like Japan, Malaysia, Indonesia, Thailand, Germany, and Turkey. They mentioned that SMEs played a vital role in employment generation and contribution to GDP in their respective economies.
From JBCCI Abdul Haque (Past President), Dr. Md. Abdul Mazid (Honorary Member), Tareq Rafi Bhuiyan (Jun) (Secretary-General), Yuji Ando (Director), Tetsuro Kano (Director), Md. Emran (Executive Director) and other JBCCI officials were present at the meeting.