Dhaka, Bangladesh
SME-centric policy vital for faster growth

Editorial

SME-centric policy vital for faster growth

The role of the Small and Medium Enterprises (SMEs) in our economy can hardly be exaggerated. It can accelerate the growth of Bangladesh economy in a faster way. The authorities concerned as well as all stakeholders have to be more visionary to reconnect with our roots and recognize SMEs as an integral part of the national economy. The immediate needs of the policymakers are to take into consideration how the nation would make SMEs as the cornerstones of the country’s economy. Unfortunately, country’s policymakers in the relevant areas hardly take into account, the role of the SMEs, in the long march of the country towards industrialization. Thus, the pivotal role of small-and –medium-size industries always fell by the wayside, instead of placing those in the mainstream functioning of country’s development strategy during the last few decades. With that end in view, the importance of SMEs came in the frontline in the discussion of a recently held five-day training programme organized for women entrepreneurs by the Standard Chartered Bank with the SME foundation. Speakers on the occasion in their deliberations mainly focused on women’s participation in all development drives. They gave special emphasis on SMEs saying that empowerment of women through SMEs, could, in different ways, ensure even faster growth and development of Bangladesh economy. The excellent initiative shined on the occasion for empowering women has opened a new pathway for country’s womenfolk in the mainstream of the national economic expansion. The vision surfaced as evidenced by the majority participation of women in our RMG sector. In the same way, a new visionary policy has to be developed for widening the next step of our development process. It does imply that more women’s participation and SME-centric policy directives would open a new window for the economic progress of the country as a whole through accelerated growth and development. All these new openings will ensure more benefits in propping up our SMEs. Thus a robust SME arena would, no doubt, help Bangladesh to march ahead with its dynamic strides. There is no denying the fact that our economy continues to make further strides. But we need to reconnect with our roots and recognize SMEs as an integral part of any healthy economy. It is high time that the country’s policymakers give more and more importance to SMEs to rise to the occasion in the best interests of wide-ranging growth and development of Bangladesh economy.

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