Industries Minister Amir Hossain Amu on Wednesday asked the SME Foundation to recommend necessary incentives and policy supports from the government to further promote the country's small and medium enterprise (SME) sector.
He said SMEs are the main drivers of the country's economy and the government is always ready to support growth of the sector. Here the SME Foundation can help by suggesting required supports which can be given from the government, he said.
"Besides, the SME Foundation also needs to locate suitable regions of the country for small and medium enterprises," he added.
The minister's directive came while he inaugurated as chief guest the '5th National SME Fair-2017' at the Banganbandhu International Conference Centre (BICC).
The SME Foundation organised the five-day fair.
Chairperson of the SME Foundation K M Habib Ullah presided over the programme.
The inaugural ceremony was also attended, among others, by State Minister for Women and Children Affairs Meher Afroz Chumki, Industries Secretary Mosharraf Hossain Bhuiyan, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Matlub Ahmad and Managing Director of the SME Foundation Md Shafiqul Islam.
Mr Amir Hossain Amu said the country's economy is growing due to the SME sector's consistent contribution to export growth, product diversification, employment generation and poverty eradication.
He said about 90 per cent industries of the country are under the SME sector. It controls around 70 per cent economic activities. About 80 to 85 per cent industrial employment is being created by the sector.
"The significance of the SMEs in our economy can be understood by these indices," he added.