Economy
DCCI Seminar Underscores Role of SME Policy in Boosting Exports
During a seminar held on Saturday, speakers emphasized the need to enhance the capabilities of small and medium enterprises (SMEs) to help them navigate the challenges of LDC Graduation and boost exports.
They highlighted several crucial factors for the comprehensive development of the SME sector, including technological advancement, access to financing, marketing opportunities, research and innovation, product diversification, cluster-based skill development, and infrastructure.
The seminar, titled ‘Improving Export Capabilities of SMEs: Succeeding Globally upon LDC Graduation,’ was organized by the Dhaka Chamber of Commerce & Industry (DCCI).
Dr. Shirin Sharmin Chaudhury, MP, Speaker of the Bangladesh Parliament, attended the event as the chief guest. She acknowledged the resilience of Bangladesh’s SMEs, which contribute over 30 percent to the GDP. However, she also recognized the challenges facing the sector and urged policymakers to address these issues.
Dr. Shirin emphasized the importance of technology adoption to access virtual markets and encouraged SME entrepreneurs to use the Joyeeta Foundation platform for product sales.
Barrister Md. Sameer Sattar, President of DCCI, highlighted the need for preparation, as exporters, including SMEs, will face tariffs ranging from 8 percent to 16 percent on their exports after 2026. He emphasized the strong SME foundation in Bangladesh, contributing significantly to the country’s GDP, manufacturing value addition, and job creation.
Sattar proposed revising the SME definition to exclude medium-sized businesses, as they often enjoy privileges. He also recommended that banks offer SME-specific export financing, such as credit insurance, export development funds, and working capital loans, to address financial challenges related to exports.
He stressed the importance of maintaining an updated central SME database and endorsed foreign investment, technology transfer, and cluster development for export-oriented SMEs.
Dr. Selim Raihan, Executive Director of SANEM, delivered the keynote presentation during the seminar. He highlighted challenges faced by Bangladesh’s SMEs, including capacity limitations, policy and regulatory issues, financing hurdles, infrastructure gaps, and skills shortages.
Raihan suggested that the import tariff for SMEs in Bangladesh be made more investment-friendly, as it is currently relatively high.
Other speakers at the seminar included Kohinoor Yeasmin, CEO of Tarango; Rezbin Begum, MD of People’s Leather Industry; AFM Asif, CEO of Bengal Meat Processing Industries Ltd; and Dr. Md. Kabir Ahmed, Executive Director of Bangladesh Bank, who participated as panel discussants.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
