Industries Minister inaugurates SME Product Fair

Published : 24 Nov 2022 08:29 PM

Industries Minister Nurul Majid Mahmud Humayun MP inaugurated the 10th National SME Product Fair at the Bangabandhu International Conference Center in the capital today. The SME Foundation under the Ministry of Industry has organized this fair for 10 (ten) days from November 24 to December 3. Meanwhile, the Industries Minister distributed the prizes to the winners of the 'National SME Entrepreneurship Award 2022'.

SME Foundation Chairperson Professor Dr. Under the chairmanship of Md. Masudur Rahman, State Minister for Industries Kamal Ahmed Majumder MP, Industry Secretary Zakia Sultana and FBCCI President Md. Jasim Uddin were special guests.

Speaking as the chief guest at the event, Industry Minister Nurul Majid Mahmud Humayun MP said, sustainable and quality industrialization is the political commitment of our government. The Ministry of Industries is working with the goal of achieving economic prosperity and qualitative change in the industrial sector through the implementation of Vision 2041 announced by the Honorable Prime Minister Jannetri Sheikh Hasina. As a result, the contribution of the industrial sector to the GDP is gradually increasing. Already, the contribution of the overall industry to the GDP has exceeded 32 percent. About 78 lakh MSE industries have been established in the country at present. These SME industries contribute 25 percent to DGP and 80 percent to total industrial employment. We have already transitioned from the list of least developed countries or LDCs by continuing the progressive trend of the SME sector.

He said that the National Industrial Policy-2022 and 'SME Policy-2019' have been formulated by the Ministry of Industry which are being successfully implemented. In order to implement the government's development plans, the policy has set a target of increasing the contribution of the SME sector to the national income (GDP) from the existing 25 percent to 32 percent by 2024. Under the guidance of Prime Minister Sheikh Hasina, the Ministry of Industry is working to establish new factories, modernize old factories and replace machinery to continue the dynamism in the industrial sector. The minister also said that this fair will gradually gain international dimension for the development of domestic SME industry. As a result, domestic products will expand. Its contribution to setting up new industries, increasing employment and overall economic development will be far-reaching.

Congratulating the winners of the National SME Entrepreneurship Award-2022, the Industries Minister said that the SME Foundation is giving this award in male and female categories to recognize the contribution and participation of the SME entrepreneurs of the country in the overall economic development of Bangladesh.

In the speech of the special guest, State Minister for Industries Kamal Ahmed Majumdar MP said that the government of honorable Prime Minister Sheikh Hasina is working towards the elimination of poverty and unemployment from the country to become self-reliant. The importance of industrialization in building a developed and prosperous Bangladesh is immense. Every year there is a need to create a source of employment and work for a large number of educated youth in the country. The government is emphasizing on the industrial development strategy based on labor intensive small and medium industries to utilize the large number of labor force. He said that the refinancing program is continuing to support the development of small, medium and cottage industries, provide special incentives to weavers, blacksmiths, potters and potters to protect weaving industry and develop silk, Banarasi and Jamdani palli and ease loan conditions.