Coordination among agencies and structural reforms are crucial for SME development, said experts at a focus group discussion on Saturday.
The Dhaka Chamber of Commerce and Industry organised the discussion titled 鈥楻eform of SME Policy-2019 for Sustainable Growth and Innovation鈥�, according to a press release.
DCCI president Ashraf Ahmed emphasised that the economy must move beyond agriculture to industrialisation and expand the export service sector.
He highlighted the capacity of the CMSME sector to generate employment, especially for the 0.5 million graduates entering the job market annually.
He recommended redefining the SME criteria across government agencies, including Bangladesh Bank, to facilitate loan access.
Key areas of focus included financing ease, adoption of electronic nano-financing, automation of licensing processes, access to technology, and addressing non-tariff measures.
Additionally, Ashraf proposed a 鈥楴ational Industrial Standard鈥� to ensure product quality for the international market and a comprehensive SME database.
Additional secretary Md Salim Ullah from the Ministry of Industries stated that the government aims to develop an international standard SME policy, addressing previous shortcomings.
Md Anwar Hossain from the Export Promotion Bureau highlighted the need to strengthen backward linkages in the SME sector and suggested simplifying the tax filing process.
He also advocated for setting domestic standards for export products.
NASCIB president Mirza Nurul Ghani Shovon stressed the importance of coordination among agencies and securing funding for the new policy鈥檚 implementation.
