New industrial parks on the cards to expand MSME sector: Commerce Minister
Reflecting on past challenges, the Commerce Minister pointed out that the rate of creating new entrepreneurs over the last 17 years was critically low.
Commerce Minister Khandaker Abdul Muktadir today (28 June) announced that the government has taken various initiatives to expand the Micro, Small, and Medium Enterprises (MSME) sector including plans to establish new industrial parks alongside existing BSCIC industrial estates.
The minister made the announcement while addressing an event organised at the Bangladesh Investment Development Authority (BIDA) auditorium in the capital to mark the International Day of Micro, Small, and Medium-sized Enterprises.
Highlighting the sector's economic significance, Muktadir said MSMEs currently contribute 34% to the national economy.
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"As the lifeline of our economy, the more dynamic this sector becomes, the higher our GDP growth will be," he said.
Reflecting on past challenges, the Commerce Minister pointed out that the rate of creating new entrepreneurs over the last 17 years was critically low.
Furthermore, existing industrial units could not utilise their full production capacity due to acute gas shortages, which ultimately widened income inequality, he said.
Assuring business owners of policy interventions, the minister emphasised that the current government is working with sincere dedication to resolve the prevailing gas crisis to boost the manufacturing capacity of factories across the country.
Senior government officials, business leaders, and representatives from the SME sectors were present at the event.
