Private financial institutions urged to promote SMEs

15 Apr 2017, 21:24

Online Desk

Dhaka:  Planning Minister AHM Mustafa Kamal on Saturday called on the private financial institutions to play a greater role alongside the government's initiatives in the development of Small and Medium Enterprise (SME) sector.

"The role of small and medium entrepreneurs is very important for economic growth. The contribution of SME sector must be increased to accelerate the growth," he said.

The minister was addressing the 12th Citi Microentrepreneurship Award-giving ceremony, arranged by Citi Foundation at a city hotel.

Placing statistics on the SME sector's contribution to the GDP growth in Vietnam, Thailand, Australia and India, the Planning Minister said it is essential to have an independent research center at the SME foundation.

The government is determined to do all possible things for the development of the sector, said the minister adding that the SME sector must be brought into the mainstream of the economy.

He said quick poverty alleviation is possible through an inclusive growth. "Sustainable development is not possible leaving anyone behind."

Noted economist Dr Wahiduddin Mahmud moderated the award-giving ceremony, while State Minister for Finance and Planning MA Mannan and Bangladesh Bank Deputy Governor SK Sur Chowdhury spoke on the occasion, said a PID handout.