Staff Reporter :
The government will extend full support to young people aiming to become entrepreneurs in the small and medium-sized enterprise (SME) sector, said Lutfey Siddiqi, Special Envoy for International Affairs to the Chief Adviser.
Speaking at a programme marking International MSME Day 2025 in Dhaka on Sunday, Siddiqi highlighted that developing the SME sector and fostering entrepreneurship are key priorities in the country’s current economic strategy.
The event was jointly organised by the SME Foundation and the International Labour Organisation (ILO).
Siddiqi noted that for Bangladeshi entrepreneurs to remain competitive, aligning their businesses with global standards was essential. “Expanding international networks is vital for the development of MSMEs and increasing global market access,” he said.
To that end, he stressed the need for support in areas such as participation in international trade fairs, obtaining standard certifications, receiving export incentives, and accessing digital export platforms.
Bangladesh observed International MSME Day 2025 on 27 June under the theme “Enhancing the Role of MSMEs as Drivers of Sustainable Growth and Innovation.”
The United Nations first designated the day in 2017 to recognise the sector’s importance in achieving the Sustainable Development Goals.
By 2030, the global economy will require 600 million new jobs, with MSMEs expected to create seven out of every ten. Worldwide, MSMEs account for 90% of all businesses, 60-70% of employment, and around 50% of GDP, according to UN data.
Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), emphasised that strengthening the SME sector is crucial for building an innovative, inclusive, and sustainable economy.
“SMEs and investment go hand in hand,” he said. “Through its one-stop service centre, BIDA is offering a wide range of services-trade licence, VAT and tax registration, investment registration, and utility applications-to support SME growth.”
He noted that large industries often struggle with backward linkage issues. A robust and skilled SME sector, he added, would enhance the competitiveness of larger industrial enterprises and should be treated as a strategic priority in national industrial policy.
SME Foundation Chairperson Md Musfiqur Rahman stated that the foundation has directly and indirectly supported over two million entrepreneurs, including 250,000 direct beneficiaries-55% of whom are women.
Under the Credit Wholesaling Programme, launched in 2009, the foundation has disbursed over Tk 1,010 crore to nearly 11,000 entrepreneurs, with women making up at least 25% of the recipients.
He also highlighted the foundation’s efforts in entrepreneur development, skills training, promotion of ICT-enabled business practices, and policy advocacy.
However, Rahman acknowledged limitations in meeting nationwide demand due to financial and institutional constraints, and called for increased government support.
On a global scale, access to finance remains a major barrier for entrepreneurs.
The UN reports that 41% of entrepreneurs in least developed countries, 30% in middle-income countries, and 15% in high-income nations face difficulties securing credit.
Distinguished Fellow of the Centre for Policy Dialogue (CPD), Debapriya Bhattacharya, reiterated the SME sector’s crucial role in Bangladesh’s economy.
He urged political parties to clearly outline their commitments to SME development in their forthcoming election manifestos, stating that political backing is essential for sustained progress.
Industries Secretary Md Obaidur Rahman and Pedro Jr Bellen, Officer-in-Charge of the ILO Country Office in Bangladesh, also addressed the event. Anwar Hossain Chowdhury, Managing Director of the SME Foundation, delivered the welcome remarks.
On the sidelines, The Asia Foundation hosted a daylong product exhibition featuring 70 women entrepreneurs who showcased their products, further celebrating the contributions of MSMEs to the economy.
