SME sector will face growing challenges of 4IR after LDC graduation: DCCI

Managing Director of UN Technology Bank of LDC visits Dhaka Chamber

Published : 21 Oct 2021 10:00 PM | Updated : 23 Oct 2021 10:52 AM

After Bangladesh’s graduation from LDC in 2026, the SME sector will have to embrace the growing challenges of the fourth industrial revolution (4IR) to be competitive in the international market, said Rizwan Rahman, said DCCI President Rizwan Rahman on Wednesday.

He said technology transfer is no longer a choice but a necessity.

He was addressing a view exchange meeting with a delegation from the United Nations Technology Bank for Least Developed Countries at DCCI. The delegation was led by Joshua Setipa, Managing Director of that organization.  

DCCI President also said, Bangladesh has made a tremendous economic success in recent years and witnessed 5.47% economic growth in FY2021 and the foreign exchange reserve has already reached US$ 48 billion plus in August 2021.

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He said that the UN Technology Bank can play a vital role to promote technology transfer to make Bangladesh’s manufacturing sector more productive. He also requested the UN Technology bank to help Bangladesh’s SME sector to enhance their capacity development to cope with the growing challenges of the fourth industrial revolution.   

Joshua Setipa, Managing Director, UN Technology Bank for LDC mentioned that the role of their organization is to promote technology transfer, train up professionals and workers. 

He also said that they can identify sector wise technology requirements and will facilitate the technology adoption for the SMEs of this country to make them technologically advanced. 

"The UN Technology Bank can link up Bangladeshi businesses with technology providers under WTO’s technology transfer platforms which will help them adapt latest technologies and expand in a faster manner", he added. 

Setipa mentioned that, UN Technology Bank for LDCs is going to organize an International Summit in January 2022. Bangladesh will be co-chair of this summit. DCCI can also be the lead implementing partner of an upcoming enterprise development project, he added. 

Programme Management Officers of UN Technology Bank for LDC Yesim Baykal and Orient Muloongo were also present during the meeting.

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